All Real Assets articles in Web Issue – Page 34
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PropertyEU Archive
Rokeby to develop 54,000 m[sup]2[/sup] plot
UK-based Rokeby Developments has been awarded a 54,864 m[sup]2[/sup] development for mixed use at Antelope Park, in Southampton. The project, located on the south coast of England, will include a 13,716 m[sup]2[/sup] of retail area leased to the department store The Range and 27,432 m[sup]2[/sup] of leisure space. Construction is ...
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PropertyEU Archive
Fadesa to develop EUR 187.5 mln housing projects
Spanish property group Fadesa has announced it will invest EUR 187.5 mln in three news housing projects in Spain. The projects will provide a total of 900 new homes spread across the cities of Granada, Southern Spain, Tenerife, in the Canarias island, and Guadalajara.
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PropertyEU Archive
SEB buys 2nd factory outlet in the Czech Republic
Germany-based SEB ImmoInvest has signed a preliminary contract for the purchase of the factory outlet development Airport Praha through its open-ended real estate fund for EUR 93 mln. Factory outlet centres are a virtually new concept for Czech consumers, the company said in a statement. Once completed, Airport Praha will ...
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PropertyEU Archive
German office market picked up in Q4
The German office market in the five major business cities performed far better than expected in the fourth quarter of 2006 despite forecasts in the first nine months of a decline in take-up for the full calendar year.
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PropertyEU Archive
Patrizia issues 4.73 million new shares
Germany-based investment company Patrizia Immobilien's Board has announced the issue of 4.73 million new ordinary shares, equivalent to 9.98% of the company's share capital. The proceeds are intended to finance the recent and future portfolio acquisitions. No further details on the pricing of the capital increase were disclosed.
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PropertyEU Archive
GE RE buys EUR 420 mln property specialty fund
GE Real Estate has acquired 100% of the German specialty property fund Immobilienspezialfonds for EUR 420 mln. The Fund's portfolio comprises 12 office properties across western Germany, located in the major financial centers, including Frankfurt, Munich, Hamburg, Dusseldorf, Stuttgart, Bonn, and Karlsruhe.
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PropertyEU Archive
San Jose invests EUR 466 mln in Parquesol
Spanish property company Grupo San Jose has won approval for to take a 50.79% interest in peer Parquesol. The success of the bidding was guaranteed, given that Grupo San Jose and New GP Cartera, which owns a 54.77% stake in Parquesol, reached agreement for a 100% buy-out by San Jose ...
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PropertyEU Archive
Fimit acquires EUR 76 mln office development
Fondi Immobiliari Italiani (Fimit) has acquired a 29,000 m[sup]2[/sup] plot of land from a private investor through its listed property fund Alpha, Beta, Gamma and Sigma Immobiliare. The total investment value comes to EUR 76.7 mln. The plot is located in the commercial district New Fair near Rome, between Fiumicino ...
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PropertyEU Archive
Newstone to invest EUR 80 mln in office development
Business property promoter Newstone will develop a 21,000 m[sup]2[/sup] office development in the Stade de France district of Saint-Denis, a northern suburb of Paris. The investment will amount to about EUR 80 mln. The operation will be carried out in partnership with a major Anglo-Saxon fund, French property newspaper Business ...
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PropertyEU Archive
Grupo Mateus to open 9 Portuguese retail centres
Portugal-based property development company Grupo Mateus has announced it is to develop a new shopping mall in Portalegre, Portugal. The centre, designed by Sao Mamed Shopping, is the second retail centre developed by the group, with the first one developed and sold in 2006. The company said it intends to ...
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PropertyEU Archive
Fondis acquires commercial portfolio in France
Ixis AEW Europe, the asset manager of the commercial property fund Fondis, has acquired the Emaux de Longwy commercial development from the property company Immobiliere Frey, in Meurthe-et-Moselle, Northern France.
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PropertyEU Archive
Savills may buy shares back
International property advisor Savills may seek to buy back a 5% of its own shares when the Los Angeles-based real estate agency CB Richard Ellis puts its 19.2% stake in Savills on the market.
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PropertyEU Archive
US law firm to open office in Berlin
The first continental European office of US law firm Kirkpatrick & Lockhart Preston Gates Ellis is to open in Berlin. The team of 11 partners, including five real estate specialists, formerly practised in the Berlin office of Taylor Wessing, an international form of British and German origins.
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PropertyEU Archive
CGI sells Dutch office property to Italian fund
German fund Commerz Grundbesitz Investgesellschaft (CGI) has sold the Gateway Centre in the Netherlands to Europa Immobiliare No 1, a real estate fund run by Italy's Vegagest, for about EUR 43 mln. The Gateway Centre is located in Amstelveen, a municipality neighbouring Amsterdam, and is leased to Fortis Bank Netherlands.
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PropertyEU Archive
Sistema-Hals to develop Saint-Petersburg mall
Russian property development company Sistema-Hals JSC intends to develop a 100,000 m[sup]2[/sup] Hals Mart retail and entertainment complex in Saint Petersburg. The company said that Sistema-Hals Group's unit Hals-Invest Development has signed a 12-year EUR 144 mln credit agreement with the bank Eurohypo to finance the development of the shopping ...
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PropertyEU Archive
DHCRE to re-develop London Howick Place
European real estate manager Doughty Hanson & Co Real Estate (DHCRE), through its DHCRE Fund II, has announced the purchase of Howick Place, London, in a joint venture with the AIM-listed property company Terrace Hill Group for EUR 37.5 mln.
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PropertyEU Archive
Foreign investors to swoop on Dutch listed funds
Dutch listed property funds will likely be targetted by foreign investors this year due to the removal of legal obstacles, researchers at merchant bank Merrill Lynch have suggested. In a report published this week on the European real estate sector in 2007, Merrill Lynch said: 'The greatest surprise comes from ...
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PropertyEU Archive
Westfield unveils Stratford vision
Shopping centre group Westfield has unveiled its vision for the 180-acre Stratford City development in east London, claiming the project will be underpinned by some of the most sustainable development standards ever applied to an urban development in the UK.
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PropertyEU Archive
D2 Private invests EUR 164 mln in Fortress House
Dublin-based property investor D2 Private has acquired the landmark building Fortress House in London for around EUR 164 mln. The building housed the former headquarters of English Heritage, the English commission on historic buildings and monuments.
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PropertyEU Archive
Savills slumps as CBRE sells 19% stake
Property advisor Savills suffered a drop on the London Stock exchange on Thursday when it emerged rival CB Richard Ellis had sold the 19% stake in Savills at 623 pence per share. CBRE obtained the stake, owned by Trammel Crow Company, when it bought Trammel last year for $2.2 bn.
