All Real Assets articles in Web Issue – Page 315
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PropertyEU Archive
Metrovacesa seeks to delay payment for London complex
Spanish property company Metrovacesa has reportedly asked for a further extension on the £230 mln (EUR 292 mln) the company is due to pay to insurance group Legal & General. According to the Financial Times, the Madrid-based company has a deadline on October 31 to pay the remainder for the ...
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PropertyEU Archive
Prologis entends Quiksilver logistics park
Prologis, the international developer and owner of distribution facilities, said it has delivered two new logistics units with a total of 14,000 m[sup]2[/sup] within the Quiksilver de Rives logistics park near the French city of Grenoble.
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PropertyEU Archive
German open-ended funds lock the gates
The German open-ended property fund industry is in virtual lockdown following a flurry of redemption halts imposed by fund managers last week to prevent investors withdrawing their money.
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PropertyEU Archive
German funds re-live redemption nightmare
Germany's open-ended funds are getting an unwelcome blast from the past. As turbulence in global financial markets intensifies, some funds are starting to halt redemptions following panic withdrawals, in a scenario that is eerily reminiscent of the mass withdrawals from the country's open-ended funds at the end of 2005 into ...
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PropertyEU Archive
Retail rents highest in Moscow - JLL
Moscow boasts three of the top five most expensive prime retail locations in Europe in terms of rental costs, Jones Lang LaSalle has said in its first report on Prime High Street Rents in Europe. The top Moscow locations are Stoleshnikov Lane, Petrovka Street and Tverskaya.
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PropertyEU Archive
Chayton, CV Starr acquire Hungarian land owner for EUR 155m
Chayton Capital's Sava Fund and CV Starr have bought a 74% stake in Skoglund Holding, a Hungarian company that owns a 10 million m[sup]2[/sup] portfolio of residential and commercial development property in and around Budapest for EUR 155 mln.
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PropertyEU Archive
Union investment acquires Frankfurt development for EUR 93m
Union Investment has acquired a commercial building development in the German financial centre of Frankfurt from urban developer Vivico Real Estate for EUR 93 mln. The project is to be contributed to Union Investment's UniImmo: Deutschland open-ended real estate fund.
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PropertyEU Archive
AEW Europe begins search for new CEO
European real estate investment manager AEW Europe is launching a search for a new CEO to replace veteran Francois Pochard who retires early next year, well-informed sources claim.
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PropertyEU Archive
Kenmore agrees strategic alliance with Saudi group
Kenmore Property Group is entering into a strategic alliance with Saudi investment banking firm Watan Investments and Securities. The parties have signed a Memorandum of Understanding (MoU) on the alliance that will harness their real estate expertise.
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PropertyEU Archive
Pace of derivatives trading slows amid financial turmoil - IPD
The total volume of IPD Property Derivatives traded in the third quarter of 2008 fell 38% on the previous quarter, to £1.15 bn (EUR 1.8 bn). A total of 166 trades were executed during the three-month period to 30 September, the lowest number of trades since the third quarter ...
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PropertyEU Archive
Klepierre appoints new CEO as Clair moves to supervisory board
French real estate firm Klepierre has appointed Laurent Morel as CEO to replace Michel Clair who is stepping down to lead the supervisory board. Morel joined the Klepierre group four years ago, and was appointed to the executive board on 1 June 2005. He was appointed manager of retail firm ...
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PropertyEU Archive
Babcock & Brown founder steps down from board
Australian listed Babcock & Brown has announced that founder Jim Babcock resigned as executive director on 1 November. The asset manager said Brown had stepped down from the board for personal reasons and would continue to be a significant shareholder in the group.
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PropertyEU Archive
Real Estate Opportunities secures extra banking facilities
Real Estate Opportunities (REO), the listed investor and developer of property in the UK and Ireland, has secured two additions to its banking facilities totalling EUR 100 mln.
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PropertyEU Archive
Plaza buys out JV partner in Indian development
Plaza Centers, the emerging markets retail developer, has bought the 50% stake its joint venture partner, the Avinash Bhosale Group (ABIL), held in their Koregaon Park development in Pune, Western India for a total of $20 mln (EUR 15.6 mln).
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PropertyEU Archive
Catella goes in search of distressed property in Spain
Catella Property Group said it has opened a new office in Madrid to take advantage of opportunities in the distressed Spanish property market. 'In 1992 Catella’s property arm started in Sweden in what was then a distressed Swedish property market,' said Johan Ericsson, Group CEO of Catella Property Group.
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PropertyEU Archive
Deka purchases Vienna office property from Immofinanz
German fund manager Deka Immobilien Investment has acquired Silk 7, a modern office property located on Seidengasse in Vienna's 7th district from Immofinanz. Both sides agreed to keep the transaction volume confidential but Immofinanz said it exceeded the assessed value.
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PropertyEU Archive
AMB pre-leases 30,000 m[sup]2[/sup] at port developments near Paris
AMB Property Corporation has pre-leased 29,600 m[sup]2[/sup] of development projects in the Seine River corridor. The corridor connects Paris to the English Channel and serves as the main gateway for imports into France.
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PropertyEU Archive
GPR 250 Europe: October 2008 'worst month ever'
The GPR 250 Europe index returned - 22.4% in October, the worst monthly performance ever recorded by the index. On a country level, only Norway (Norwegian Property at 0.0%) avoided slipping into negative territory. The other European countries recorded losses varying from -44% for Austria to -18.3% for the Netherlands ...
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PropertyEU Archive
Nieuwe Steen acquires Swiss shopping centre for EUR 47m
Netherlands-based Nieuwe Steen Investments (NSI) has acquired the Perolles Centre shopping centre and apartments in the Swiss city of Fribourg for EUR 47 mln.
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PropertyEU Archive
JLL announces further cuts in England
Property adviser Jones Lang LaSalle has confirmed that it is to cut a further 30 to 40 jobs in England due to 'the continuing challenging financial and economic climate'. The redundancies come on top of the 80 job losses in England announced in mid September and are part of a ...
