All Real Assets articles in Web Issue – Page 336
-
PropertyEU Archive
Mipim Horizons attracts 1,200 visitors
The first edition of Mipim Horizons, which was held in Cannes in early December, attracted 1,200 participants, a spokesperson said. This is significantly less than the 3,000 participants the organisers had originally targeted. 'But that was before the financial crisis got worse,' the spokesperson said. 'We are happy with this ...
-
PropertyEU Archive
First Industrial arranges new $110m loan for Calstrs JV
Industrial developer and investor First Industrial announced on Friday that it has arranged a new $110 mln (EUR 78 mln) term loan facility for its joint ventures with the California State Teachers' Retirement System (Calstrs), the second-largest public pension fund in the US. The facility includes accordion features, subject to ...
-
PropertyEU Archive
IGD buys retail gallery in Cesena for EUR 18m
Italy's IGD SIIQ said on Friday that it has acquired a commercial gallery in Cesena, Northern Italy, from retailer Coop Adriatica SCARL. The transaction price amounts to a total of EUR 18 mln, including equity of EUR 6 mln and debt of EUR 12 mln. The acquisition is part of ...
-
PropertyEU Archive
NAI, C&W broker 5,600 m[sup]2[/sup] letting in southern Rhine-Main
NAI apollo, the independent real estate consulting group headquartered in Frankfurt, has announced that it has jointly brokered the leasing of 5,600 m[sup]2[/sup] of space in the southern Rhine-Main area of Germany.
-
PropertyEU Archive
Colonia cuts 20% of staff
German listed Colonia Real Estate has said it is laying off 20% of its staff and restructuring its operations and external consulting expenses to save at least EUR 9.5 mln annually. Colonia said the measures focus on four areas: consolidation of non-operating subsidiaries, cut back by diversification, separation or restructuring ...
-
PropertyEU Archive
TK Development maintains profit guidance for 2008-9
TK Development has said it is maintaining its profit guidance of about DKK 200 mln (EUR 26.8 mln) after tax for the book year 2008-9. The Copenhagen-listed developer had originally forecast an after-tax profit of SEK 300 mln, but in its interim report published last September the company blamed the ...
-
PropertyEU Archive
IVG to invest EUR 35m in second Warsaw office project
IVG Development is to invest EUR 35 mln in the development of the Vector office complex in the Wola district of Warsaw. The development arm of German listed property investor IVG said construction will begin in the second quarter of 2009, with completion scheduled for the fourth quarter of 2010. ...
-
PropertyEU Archive
Corpus Sireo fund buys 4 health care facilities in Bavaria
Corpus Sireo's health care fund Sireo Immobilienfonds No. 5 SICAV-FIS has acquired four facilities from Domus Mea, the Bavarian assisted living care provider, in a sale-and-lease back transaction. The financial details were not disclosed. The properties provide 432 beds and are located in the southeastern part of the German state, ...
-
PropertyEU Archive
Over 40 OPCIs launched in France this year
France has seen the launch of over 40 OPCI investment vehicles with a total market capitalisation of EUR 5 bn since legislation was passed in late 2007 facilitating the creation of these new non-listed property investment funds. A total of 28 management companies were licensed by the French stock market ...
-
PropertyEU Archive
Colonia JV sells Cologne property for EUR 40 mln
Listed German real estate firm Colonia has said that one of its subsidiaries has sold its trophy office property 'Disch-Haus' in Cologne for over EUR 40 mln. The transaction with the unidentified buyer was achieved by the sale of the special purpose vehicle which owned the asset. The SVP was ...
-
PropertyEU Archive
Derwent Holdings spends EUR 44.5m in Warrington
Derwent Holdings, the property company owned by Welsh multi-millionaire Albert Gubay, has acquired the 13,000-m[sup]2[/sup] Alban retail park in Warrington in the UK from Blackrock for £40 mln (EUR 44.5 mln). Property Week said the yield was about 6.5%. Yarnold & Partners advised Blackrock, while Taylor & Company acted for ...
-
PropertyEU Archive
DTZ seeks to raise £55m in wake of crisis
Global property advisor DTZ is seeking to raise up to £55 mln (EUR59.2 mln) of new equity as it struggles to survive the fallouts of the credit crisis. The London-listed broker, which unveiled a pre-tax loss of £11.2 mln in the first half to October 2008, said the equity raising ...
-
PropertyEU Archive
Kungsleden agrees property swap in Sweden
Listed Swedish property company Kungsleden has said it is divesting one industrial property and two site leaseholds in Sweden for SEK 204 mln (EUR 18.4 mln) to fellow listed Swedish property company AB Sagax. At the same time Kungsleden is acquiring three warehouse and office properties from Sagax for SEK ...
-
PropertyEU Archive
Allianz Immobilien names new CIO
Allianz Immobilien said it has appointed Stefan H. Brendgen as the new Chief Investment Officer with effect from January 15, 2009. Brendgen will hold his new position until the end of March 2009 when will become the chairman of the company management. Karl Ralf Jung will continue to be CEO ...
-
PropertyEU Archive
Icade appoints new head of residential business
French property firm Icade said on Tuesday it has named Antoine Fayet as new head of its residential and public services property business in France. Marie Brouder, who was previously in charge of the public services assets, has resigned, Icade added.
-
PropertyEU Archive
Fabian approves Black Sea takeover offer
Rompetrol Holding's AIM-listed unit Black Sea Global Properties (BSGP) has reached an agreement with Fabian Romania to launch a takeover offer for the Romanian property investor for EUR 1 per share. The offer represents a premium of 93% over the closing price of Fabian Romania shares of EUR 0.51 on ...
-
PropertyEU Archive
Savills closes Budapest office
UK property advisor Savills confirmed on Friday it has closed its office in Hungary as the impact of the credit crisis deepens in the country. Savills opened an office in Budapest in 2006 and hired Peter Chatfield to lead the new business. Chatfield would not comment on the news on ...
-
PropertyEU Archive
Union Investment buys Marsans HQ in Madrid
Spain's Marsans Group has sold its Madrid headquarters to German open-ended property fund Union Investment, PropertyEU has learnt. The financial details of this deal were not disclosed, but based on similar transactions in the area, it is believed the investment amount is in the vicinity of EUR 100 - 130 ...
-
PropertyEU Archive
Dev Secs completes Carnival UK headquarters
Development Securities has announced the completion and handover of the headquarters building for cruiser operator Carnival UK, two months ahead of the scheduled programme.
-
PropertyEU Archive
Office rents in Kiev likely to drop, says CBRE
The office market in the Ukrainian capital of Kiev will witness a recession in 2009, which, in turn, could lead to a decline in rental rates, according to a report from CB Richard Ellis. 'The world financial crisis has already affected Western European property markets and its echoes are ...
