All Real Assets articles in Web Issue – Page 313
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PropertyEU Archive
Lewis Charles targets Abu Dhabi with new fund
London-based independent stockbroker Lewis Charles Securities is launching what it says will be the first UK real estate fund aimed at Abu Dhabi to tap into the property sector in the Middle East.
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PropertyEU Archive
Union acquires 'green' business park property in Singapore
Hamburg-based Union Investment Real Estate has announced the acquisition of the Changi Business Park 3 property in Changi Business Park Vista, Singapore.
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PropertyEU Archive
Orco sells historic Budapest HQ
Orco Property Group has sold its historic head office in Budapest to Stena Realty for an undisclosed price. The Andrassy 70 office building is located on Andrassy Avenue. Dating back to 1880, the property was originally constructed as a private mansion but was converted and extensively refurbished to Class-A offices ...
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PropertyEU Archive
Supervisory chiefs quit Immofinanz/Immoeast
The chairman and deputy chairman of the supervisory boards of Austrian real estate companies Immofinanz and Immoeast resigned on Tuesday. Wolfgang Reithofer and Reinhold Süßenbacher informed the company's executive board of the move on Monday evening.
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PropertyEU Archive
House of Design comes to Rotterdam
Hamburg-based investor Garbe Group is teaming up with Dutch firms Volker Wessels Vastgoed and Synchroon in a development that builds on Rotterdam’s growing reputation as a city of cutting-edge architecture and design.
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PropertyEU Archive
KanAm acquires Paris office property for EUR 133m
German property fund manager KanAm has purchased an office building in the Paris region from French real estate company Gecina for EUR 133.5 mln. Located in Poissy commune, about 24km from the centre of Paris, the property comprises 48,396 m[sup]2[/sup] of space and is fully leased to automobile group PSA. ...
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PropertyEU Archive
JLL reports 68% drop in 3Q profits
International property advisor Jones Lang LaSalle (JLL) saw its profits drop by 68% in the third quarter in part as a result of acquisition and restructuring charges. Third-quarter net income fell to $15 mln, or 43 cents a share, from $47mln, or $1.38 per share, a year before, the company ...
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PropertyEU Archive
Skanska to expand Stockholm shopping mall for EUR 71m
Swedish construction giant Skanska has been contracted to construct the second stage of Bromma Center shopping centre in western Stockholm on behalf of KF Fastigheter. The EUR 71-mln contract covers rebuilding and expanding an existing airport hangar built in 1947 to create a modern three-story shopping center. The project involves ...
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PropertyEU Archive
Barcelona Meeting Point showcases Latin America and CEE
Barcelona Meeting Point (BMPSA) is an increasingly international real estate fair. The 12th edition being held on 4-9 November features over 40 symposium sessions and 130 speakers from 16 countries, including representatives from the Urban Land Institute (ULI), Investment Property Databank (IPD), Global Real Estate Institute (GRI) and Family Enterprise ...
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PropertyEU Archive
Apollo Real Estate announces name change
Apollo Real Estate Advisors is changing its name to AREA Property Partners effective from mid January next year. The company said the new name 'formalises the firm's independence and marks a new chapter in its history'.
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PropertyEU Archive
Multi wins BLRW award for Stadfeestzaal shopping centre
Multi Development's 20,500-m[sup]2[/sup] Stadsfeestzaal Shopping Centre in Antwerp has been chosen by the Belgium-Luxembourg Shopping Centre Board (BLRW) as winner of the Shopping Award for the best shopping centre in Belgium and Luxembourg of 2008.
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PropertyEU Archive
Westfield says mega White City mall won't be 'white elephant'
Australian shopping centre developer Westfield has expressed confidence that its massive White City scheme, which opens in London on Thursday, will be a success despite the fact the UK is heading into recession.
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PropertyEU Archive
Spain's property market restructuring continues
After several years of mind-boggling growth Spain's real estate sector has been plunged into crisis and the country's property firms - many of whom who mushroomed from minnows into giants practically overnight - are desperately trying to restructure to survive.
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PropertyEU Archive
Hypo Real Estate taps government's rescue fund
Hypo Real Estate became Germany's first listed bank to tap the government's recently set up EUR 500 mln rescue fund on Wednesday, asking for a short-term loan and saying that it may seek fresh capital.
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PropertyEU Archive
Institutional real estate mandates growing- survey
The majority of US and European institutional investors are increasing their allocation to real estate despite the global financial turmoil and North America is the most favoured investment location, according to a survey published by J. E. Roberts Companies (JER).
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PropertyEU Archive
Paris hit hardest as hotel profits fall
Profit and occupancy fell in most key European hotel city markets during September, according to the latest HotStats from TRI Hospitality Consulting. Average occupancy was down in all of the 10 cities surveyed, and only Hamburg reported a year-on-year increase in profit.
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PropertyEU Archive
Sanahujas mull sale of Metrovacesa stake
The Sanahujas, the owners of a 80.6% interest in Spain's largest property company Metrovacesa, are said to be negotiating a partial sale of their stake to creditor banks. According to Spanish media, Román Sanahuja, chairman of Metrovacesa, is in talks with banks HSBC and Banesto to swap debt with company ...
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PropertyEU Archive
Real I.S. shops in Paris
German investor Real I.S. has acquired an office building in central Paris for around EUR 32 mln. In a statement, the company said that the office property is earmarked for the institutional fund BGV Bayerische Grundvermögen III SICAV FIS (BGV III).
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PropertyEU Archive
UK commercial property values fall by 7.2% in 8 weeks - C&W
UK commercial property values have fallen by 7.2% in the last eight weeks, according to global real estate adviser Cushman & Wakefield (C&W). Figures in the broker's latest business briefing on the UK market also indicate that average prime UK yields had increased to 6.49% by mid-October, the highest since ...
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PropertyEU Archive
JLL lays off 50 staff in Russia and CIS
Global property advisor Jones Lang LaSalle (JLL) is laying off 50 staff across the Russia & CIS region. In a statement on Thursday, the company said that the layoffs affect mainly junior and support positions and form part of a wider strategic cost-reduction exercise in view of the current economic ...
