All Real Assets articles in Web Issue – Page 325
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PropertyEU Archive
HBOS forced to inject capital in Kenmore JV - report
UK banking giant Halifax Bank of Scotland (HBOS) has helped shore up the capital structure of its real estate partner Kenmore Property Group, after a £500 mln (EUR 589 mln) UK joint venture failed to meet debt payments due to a drop in the value of UK property, the Financial ...
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PropertyEU Archive
Rents drop as vacancies rise in Russia
Demand for office properties in Russia slowed down significantly over the last two months and vacant space has increased by 50%, according to the latest Market View research report released by Cushman & Wakefield's Russian office. The volume of vacant premises in existing buildings grew from 1 million m[sup]2[/sup] in ...
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PropertyEU Archive
Rezidor, Hilton, Scandic unveil new hotels in Europe
Rezidor, the Swedish hotel operator, is opening a new hotel near the Baltic Sea in Germany by the end of 2008 as part of its growth strategy in the country. 'We keep on growing in Germany which is one of our most important home markets', said Kurt Ritter, president & ...
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PropertyEU Archive
Metrovacesa leases 6,000 m[sup]2[/sup] to Capgemini in Barcelona
Spanish property group Metrovacesa has reached a lease agreement with French technology and consulting group Capgemini for around 6,000 m[sup]2[/sup] of office space in Barcelona. The five-storey building is located in the new 22@ district of the city and offers around 109 parking spaces.
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PropertyEU Archive
Segro seals 20,000 m[sup]2[/sup] lease agreement with Fluor
UK REIT Segro said on Tuesday that it has signed a pre-let deal with Fluor, a subsidiary of New York-listed Fluor Corporation, to take 210,000 sq ft (20,000 m2) of prime office space at its business park IQ Farnborough in Hampshire, UK. The pre-let is thought to be the largest ...
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PropertyEU Archive
Corporate disposals increase in H1 as financing dries up - JLL
Corporate real estate disposals in Europe totalled EUR 13.98 bn in the first half of 2008, up 14.6% from EUR 12.2 bn in the same period a year earlier, according to a new research report from Jones Lang LaSalle (JLL). They have nearly doubled as a percentage of total direct ...
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PropertyEU Archive
Warburg-Henderson sells for EUR 19m in Milan
Hamburg-based Warburg - Henderson KAG (Kapitalanlagegesellschaft für Immobilien) has announced the sale of an office building in Milan to an unnamed buyer for EUR 19 mln. The transaction reflects a gross yield of 6.5%.
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PropertyEU Archive
Skanska to shed 3,400 workers in Nordic region
Swedish construction giant Skanska has announced it is laying off 3,400 workers in the Nordic countries in anticipation of a decline in volumes in the region. The company said it is shedding 2,000 staff in Sweden, 600 in Finland and 800 in Norway at a total cost of SEK 600 ...
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PropertyEU Archive
PEPR sees continued leasing activity in the Netherlands
ProLogis European Properties, Europe's leading owner of warehouse distribution facilities, announced on Tuesday that it has signed two lease agreements for a total of 12,700 m[sup]2[/sup] in ProLogis Park Eemhaven, near Rotterdam.
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PropertyEU Archive
Attacks continue on UK 'empty rates' despite partial reprieve
Commercial property professionals have dismissed the decision by UK Chancellor of the Exchequer Alistair Darling to suspend the 'empty rate' tax on smaller buildings as too little, too late.
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PropertyEU Archive
BNP Paribas, Bouygues deliver new Paris HQ for Schneider Electric
A joint venture of French property developers BNP Paribas Immobilier and Bouygues Immobilier said on Tuesday that their Trianum office project opened its doors this week in Rueil-Malmaison, in the western suburbs of Paris. The scheme, which is owned by investor La Mondiale, will become the new head office of ...
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PropertyEU Archive
IPD champions Space Code as major cost cutter
Investment Property Databank (IPD) has calculated that its new standard for measuring the space performance of corporate property has the potential to produce cost savings in excess of £5 bn (EUR 5.8 bn) in the UK economy alone.
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PropertyEU Archive
Equest completes sale of Sofia mall
Equest Balkan Properties has completed the sale of the City Center Sofia shopping centre to Heitman European Property Partners III for EUR 101.5 mln. Equest, an investment company focused on commercial, retail and industrial property in South Eastern Europe, said the transaction volume represented a premium of EUR 7.5 mln ...
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PropertyEU Archive
UK REIT restrictions get mixed review
The decision by UK Chancellor of the Exchequer Alastair Darling not to open up the regime for tax-transparent real estate investment trusts (REITs) to a wider range of businesses with large property holdings has met with a mixed response.
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PropertyEU Archive
Lehman's European property portfolio only worth $1 bn, says PwC
PricewaterhouseCoopers has slashed the value of bankrupt US investment bank Lehman Brothers' European property portfolio to $1 bn, down from an earlier estimate of $15 bn, citing external debt and falling property values, it told PropertyEU today.
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PropertyEU Archive
Siemens transfers 9 million m[sup]2[/sup] to its real estate arm
German electronic equipment manufacturer Siemens is bundling the group's entire real estate portfolio in its international real estate arm Siemens Real Estate (SRE). Siemens currently has around 18 million m[sup]2[/sup] of office and production space worldwide, and SRE previously administered only about half of it. The remaining space is managed ...
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PropertyEU Archive
Private investor shops in Barcelona for EUR 29m
An unnamed private investor has sold an office property in central Barcelona to another unnamed private party for EUR 29 mln. The 6,000 m[sup]2[/sup] building is let to Barcelona's Council on a lease expiring 2011. It is located close to Avenida Diagonal and Passeig de Gràcia, the most important intersection ...
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PropertyEU Archive
Colonial gives banks option to acquire FCC, SFL stakes
Spain's troubled property group Colonial is offering its creditor banks an option to acquire its 15.45% stake in construction group Fomento de Construcciones y Contratas (FCC) as well as its 33% interest in French property firm Societe Fonciere Lyonnaise (SFL). In a statement to the Spanish stock market authorities CNMV, ...
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PropertyEU Archive
Ric Lewis leaves AEW Europe over culture clash
Ric Lewis is stepping down from his post as senior managing director and chief investment officer of European real estate investment manager AEW Europe and CEO of its London-based unit Curzon Global Partners, market sources have told PropertyEU.
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PropertyEU Archive
Colliers appoints new boss of Serbian business
Real estate services provider Colliers International has announced the appointment of Maja Sahbaz as new General Manager of its business in Serbia. Colliers was the first international real estate services provider to enter the Serbian market after the political changes of November 2000. Its projects include Serbia's first business park ...
