All Real Assets articles in Web Issue – Page 332
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PropertyEU Archive
Christophe Cuny joins Eurohypo's property derivative business
Eurohypo, Europe's largest commercial real estate bank, has appointed Christophe Cuny to its London derivatives team, led by Ed Stacy, to offer clients a new range of property derivatives products.
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PropertyEU Archive
CA Immo to modernise Vienna shopping mall
CA Immo has announced plans to modernise the architecture and technology at the 20-year-old Galleria Landstrasse shopping mall in Vienna. The Austrian property investor has been increasing its stake in the centre from 2005 and will become sole owner on 1 January 2009.
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PropertyEU Archive
Steiner Group names Henri Muhr as new CEO
Switzerland's Steiner Group said it has appointed Henri Muhr (53) as the new Chief Executive Officer starting on March 1 2009. He will replace Peter Steiner who was temporarily in charge of the company. Muhr previously held the function of vice general director and a member of the board of ...
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PropertyEU Archive
New wave of distressed sales expected in New Year
A new wave of distressed properties is expected to come to the market at the turn of the year as funds struggle to meet investor redemptions and companies fail to meet bank covenants, according to Kim Politzer, European research manager at investment manager Invesco Real Estate.
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PropertyEU Archive
Valad denies report of move to ditch European platform
Valad has denied a suggestion that it is considering unraveling its European platform and looking for equity backers to launch a company buyback in Australia at about five times the price of its shares on the Australian Stock Exchange.
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PropertyEU Archive
Sistema Hals to focus on financed projects only
Sistema-Hals has said that it will concentrate solely on projects that have financing on place or can be carried out with co-investors. The Russian and London-listed developer announced the move as part of a strategic review to help it weather the global liquidity crisis.
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PropertyEU Archive
Valad lets 7,200 m[sup]2[/sup] at Hartlebury Trading Estate
International fund and asset manager Valad Property Group has let 7,200 m[sup]2[/sup] at its Hartlebury Trading Estate near Kidderminster, Worcestershire to UK timber products manufacturer Forest Garden. The letting takes the total space leased by Valad at Hartlebury to just under 55,740 m[sup]2[/sup] since it purchased the estate in March ...
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PropertyEU Archive
Madrid office market back to 2002 'dot-com crisis' levels, says Savills
The Madrid office market is back to 2002 trading levels, with a 50% decrease in leasing transactions over the summer months compared to 2007, and yields on the increase, according to international property services firm Savills.
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PropertyEU Archive
Lippo set to enter US, Europe with $500m of investment
Indonesian property group Lippo plans to invest about $500 mln (EUR 377 mln) in US and European cities to profit from falling property prices in these more mature markets. The Financial Times reported on Thursday that the company will be focusing on cities such as London, Chicago, and San Francisco. ...
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PropertyEU Archive
Aldi plans to invest EUR 57m in Welsh expansion
Aldi, the German discount food retail chain, is planning to invest around £50 mln (EUR 57 mln) in new stores across North and Mid Wales over the next five years. Local press has reported the company plans to open two stores next year and is also looking at sites for ...
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PropertyEU Archive
Banco Popolare raises EUR 750m for Eracle fund
Banca Popolare's Eracle real estate fund has been fully subscribed by Italian and international institutional investors. The fund has raised around EUR 751 mln of equity. Intesa Sanpaolo and Morgan Stanley acted as placement agents. The fund will be managed by Generali Immobiliare Sgr, an Italian asset management firm specialised ...
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PropertyEU Archive
Rugby Estates switches focus to asset management
UK listed property firm Rugby Estates said on Thursday it is to cut jobs and focus on asset management at the expense of development and direct property ownership. The moves are elements of a strategic review carried out in response to the 'continuing deterioration of market conditions in the property ...
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PropertyEU Archive
Delek RE eyes asset sale to repay debt
Tel Aviv-listed Delek Real Estate plans to sell EUR 245 mln worth of properties in the UK, Canada, Sweden and Israel to meet its debt redemption requirements in the next three years. The company expects that the quality of the tenants in the properties and the length of the rental ...
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PropertyEU Archive
Hotel investors keep hold of assets as financial crisis bites, says JLL
Hotel investor sentiment in Europe, Middle East and Africa (EMEA) has moved further in favour of 'hold' as the impact on the industry is felt through falling income, according to the latest Hotel Investor Sentiment Survey (HISS) research report by Jones Lang LaSalle Hotels.
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PropertyEU Archive
Big Yellow director resigns over share disclosure breaches
UK multi-millionaire David Ross has tendered his resignation from the board of Big Yellow Group, a UK real estate investment trust specialising in storage facilities. The company did not explain why Ross is stepping down, but it was later reported that he has also resigned from other directorship positions with ...
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PropertyEU Archive
Multi Vastgoed sells Stadsplein to Corio
Dutch property developer Multi Vastgoed has signed an agreement with Corio for the sale of the Stadsplein project in the centre of Spijkenisse in the southwest of Rotterdam. The total investment value of the project is around EUR 36 mln. The purchase was included as part of the fixed and ...
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PropertyEU Archive
Top deals Week 50 (8-12 December 2008)
The largest deal recorded by PropertyEU between 8 - 12 December was the acquisition of the office scheme at 14 Cornhill in the City of London by Libya's sovereign wealth fund for EUR 134 mln. The vendor was German property company IVG.
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PropertyEU Archive
Libyans return to London with EUR 134m acquisition
Libya has made its first investment in the London real estate market since the 1990s with the acquisition of an office property in the City of London district for £120 mln (EUR 134 mln). The 16,000-m[sup]2[/sup] asset at 14 Cornhill was sold by listed German property investor and developer IVG.
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PropertyEU Archive
Redevco sells office building in Lyon for EUR 43m
Retail property specialist Redevco has concluded the sale of the VIP office building in the French city of Lyon to Paris-based investor Fonciere Massena for a total of EUR 43 mln. Located in the Part Dieu district of Lyon the property was completed in 2001 and comprises 12,000 m[sup]2[/sup] of ...
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PropertyEU Archive
Warimpex sells Budapest redevelopment above fair value
Vienna-based developer Warimpex has sold the renovated Pauler office building in Budapest to an international private buyer. Company spokesman Christoph Salzer said the price for the relatively small asset was below EUR 10 mln. The exact investment volume for the 3,000-m[sup]2[/sup] asset was not disclosed but Warimpex said it was ...
