All Real Assets articles in Web Issue – Page 329
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PropertyEU Archive
UK house builder sells £109 mln of commercial property assets
UK house builder Barratt Development is to realise net proceeds of £109 mln (EUR 127.4 mln) on the sales of a shopping centre and commercial land in the UK. The assets are part of the portfolio of developer Wilson Bowden which Barratt acquired in April 2007. Barratt has indicated it ...
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PropertyEU Archive
AMB leases 11,700 m[sup]2[/sup] in Milan
Industrial real estate developer and owner AMB Property Corporation said on Wednesday it has leased 11,700 m[sup]2[/sup] of its Milan development to Corriere Cecchi., a major Italian distributor of food products who is using the space to manage the global logistics of an olive oil products manufacturer.
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PropertyEU Archive
IVG announces pre-let for 9,300-m[sup]2[/sup] office in Hamburg
German-listed real estate company IVG Immobilien has announced that its investment and development units are working together to develop a 9,300-m[sup]2[/sup] office building in Hamburg. The entire property is pre-let to Hermes Logistik.
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PropertyEU Archive
Kenmore sells industrial asset for EUR 20m
Kenmore European Industrial fund has sold the Brackeler Hellweg industrial property in Dortmund, Germany, for around EUR 20 mln. The industrial property comprising around 140,000 m[sup]2[/sup] of land and a gross lettable area of 80,000 m[sup]2[/sup] was sold in two separate transactions. Kenmore said Tedi & Co., the current anchor ...
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PropertyEU Archive
Czech industrial market reached its peak in 2007, says C&W
A period of over 10 years of industrial property market growth will end in the Czech Republic this year, according to a research report released by property services firm Cushman & Wakefield. Approximately 640,000 m[sup]2[/sup] of industrial space are expected to be completed this year in the country, a 30% ...
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PropertyEU Archive
Sponda sells Helsinki office property for EUR 9m
Finnish real estate company Sponda has sold an office property in Helsinki to Nordea Henkivakuutus Suomi. The debt-free price for the property is EUR 9.1 mln. The office property, with a leasable area of 2,700 m2, is located at Museokatu Street 8.
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PropertyEU Archive
Supermarket sector proves resilient amid market crisis, says Savills
Growing competition amongst UK supermarkets looking to expand their market share is set to create opportunities for investors and developers, according to Savills' latest food sector report. The report states that the top four grocery retailers in the country have continued to complete sale-and-leaseback deals and Sainsbury's has also entered ...
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PropertyEU Archive
Stam Europe appoints portfolio and asset managers
Real estate investment manager Stam Europe has announced that Olivier Barbion has been appointed portfolio manager of the valued-added Stam REI III Fund. The fund, which was launched earlier this year, has an investment capacity of EUR 700 mln. It focuses on corporate real estate across France.
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PropertyEU Archive
Hansainvest boosts logistics exposure in face of downturn
German fund manager Hansainvest is increasing the share of logistics in the portfolio of its Hansaimmobilia open-ended property fund as a hedge against the potential effect of the global downturn on other real estate segments.
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PropertyEU Archive
Treveria severs ties with fallen Dawnay Day
Dawnay Day Treveria, the AIM-listed investor in German retail property, has severed its links with the Dawnay Day Group which collapsed in the summer. Treveria has dropped Dawnay Day from its name and internalised the asset management by appointing Treveria Asset Management (TAM), a wholly owned subsidiary of Treveria, to ...
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PropertyEU Archive
RBS sells Kaufhof logistics portfolio
The Royal Bank of Scotland (RBS) has reportedly sold a logistics portfolio to an unnamed Luxembourg firm advised by UBS. The financial details of this transaction were not disclosed. The portfolio includes some 172,000 m[sup]2[/sup] of floor space across three properties located in the German cities of Cologne, Frechen and ...
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PropertyEU Archive
Casino to realise EUR 100m from asset sales
French retail company Casino said it has reached an agreement on the sale of a portfolio of retail properties to its AEW Immocommercial property investment mutual fund vehicle. In addition, four Casino supermarket properties will be sold to an unnamed business partner.
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PropertyEU Archive
Rewe adds 13 Moscow supermarkets to its basket
German food group retailer Rewe has continued its expansion in Russia with the acquisition of 13 supermarkets from grocery chain Njam Njam in Moscow. The transaction was carried out by Rewe's Austrian subsidiary Eurobilla which oversees the group's supermarket business in Central and Eastern Europe.
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PropertyEU Archive
STE to sell Paris office building for EUR 15m
Paris-listed Societe de la Tour Eiffel has signed a preliminary sales agreement for an office property near the Arc de Triomphe in the French capital. The sale for EUR 15 mln is part of the company's strategy of selective non-strategic asset disposals.
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PropertyEU Archive
Banks take 65% of Metrovacesa
Metrovacesa's indebted majority shareholder, the Sanahuja family, said on Thursday it has reached a debt-for-equity agreement with creditor banks who will take a 65% stake in the company.
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PropertyEU Archive
New Star hands 75% stake to banks in debt for equity swap
A syndicate of banks is taking a majority stake in troubled UK fund manager New Star in a debt-for-equity swap. New Star said the restructuring will result in £240 mln (EUR 277 mln) of its £260 mln of gross debt being converted into equity.
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PropertyEU Archive
ECE to go ahead with Polish shopping centre scheme
ECE project management is set to go ahead with its Galeria Kaskada shopping centre in the Polish port city of Szczecin in spite of current economic conditions and the severe slowdown of development in Central and Eastern Europe, Alexander Otto, CEO of ECE, has said.
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PropertyEU Archive
Subsidiary of celebrity fund succumbs to credit crunch
Accountancy firm Grant Thornton has been appointed administrator to a key subsidiary of UK celebrity fund manager AAIM Group as the liquidity crisis continues to take victims in the UK. Several media sources suggested that the crisis affects the entire AAIM Group, that counts TV presenter Sir David Frost and ...
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PropertyEU Archive
Citicourt embarks on major UK investment drive
London-based Citicourt Investment Partners has kicked off what it says is a major investment drive in the UK with the acquisition of a 90,000-m[sup]2[/sup] portfolio of retail and commercial properties for £70 mln (EUR 81 mln).
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PropertyEU Archive
Louvre Hotels, Warimpex to develop four hotels in Poland
France's Louvre Hotels and Warimpex of Austria have acquired three plots in major Polish cities to develop Campanile and Premiere Classe hotels, comprising a total of more than 500 rooms, under the auspices of their joint venture.
