All Real Assets articles in Web Issue – Page 340
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PropertyEU Archive
Kenmore sells logistics plot in Dortmund
UK commercial property company Kenmore said on Wednesday it has sold a 140,000 m[sup]2[/sup] logistics plot in Dortmund, Germany in two off-market transactions for its Kenmore European Industrial Fund (KEIF). Financial details were not disclosed.
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PropertyEU Archive
Orion edges closer to EUR 1bn equity target for European fund
European real estate investment firm Orion Capital Managers has said that the second closing of its latest European real estate fund has left it near the target of EUR 1 bn in equity commitments from major investors. Orion European Real Estate Fund III will remain open to new investors through ...
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PropertyEU Archive
NCC sells Airport Plaza Business Park Largo for EUR 16m
Sweden's NCC Property Development has sold the Airport Plaza Business Park Largo in Helsinki to Real Estate Fund Finland I for about SEK 175 mln (EUR 16.3 mln). The deal with the fund - managed by Pohjola Kiinteistosijoitus - dates from mid-December.
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PropertyEU Archive
Hansainvest buys 2 Hardman Street for £56.7m
German property fund Hansainvest has bought 2 Hardman Street in Spinningfields, Manchester for £56.7 mln (EUR 63 mln). The property was sold by Legal & General (L&G) at a net initial yield of 6.75%. The 150,000 sq ft (14,000 m2) building, which was completed in April 2006, is currently let ...
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PropertyEU Archive
Top 5 deals, Week 2 (5 - 9 January 2009)
The largest real estate investment transaction reported by PropertyEU between 5 - 9 January 2009 was the acquisition of 284 properties by the Omega fund, managed by Italian fund manager Fimit, from Italian bank Intesa Sanpaolo for EUR 850 mln. Omicron Plus Immobiliare, a fund also managed by Fimit, ranks ...
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PropertyEU Archive
Lemminkainen sells EUR 200m worth of real estate in Finland
Helsinki-listed construction firm Lemminkainen has said that its subsidiaries sold 21 real estate properties worth about EUR 200 mln to Finnish real estate investors at the turn of the year.
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PropertyEU Archive
Finnish transaction volumes down 33% in 2008
The volume of commercial real estate transactions in Finland reached EUR 4 bn in 2008, about EUR 1.9 bn lower than the year before, according to preliminary statistics compiled by the Helsinki-based KTI Institute for Real Estate Economics.
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PropertyEU Archive
Gecina, Bami acquire 25% of nursing home group Sanyres
Gecina and Bami, the two real estate investment vehicles of Spanish businessman Joaquin Rivero, have bought a 25% stake in Union Sanyres, a group specialising in nursing home properties in Spain. Gecina, the French SIIC, is taking a 19.75% stake in Sanyres, with Bami buying the remaining 5.43%.
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PropertyEU Archive
Premio Group secures EUR 35m Shariah financing deal
UK property company Premio Group Holdings has completed a £31.5 mln (EUR 35 mln) Shariah-compliant refinancing with the Bank of London and The Middle East (BLME). This was the first time Islamic transaction carried out by Premio.
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PropertyEU Archive
Goodman and L&G raise £350m for ABPP
Legal & General Property and Goodman Group have raised £350 mln from existing investors for Arlington Business Park Partnership (ABPP), their UK specialised business park fund. The companies also said the raising will bring a significant relaxation of debt covenants within the fund's existing facilities.
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PropertyEU Archive
YIT sells assets to Finnish fund for EUR 39m
Construction group YIT sold a retail park and an office building in the Kauppakortteli Atomi city centre project located in Riihimaki, Finland to the Tapiola KR III Ky property fund for about EUR 39 mln. The buildings in the transaction provide some 16,000 m[sup]2[/sup] of space. Tapiola KR III is ...
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PropertyEU Archive
Telereal buys Trillium for £750m
London-based property investment and services firm Telereal has agreed to acquire Land Securities' outsourcing business Trillium for £750 mln (about EUR 831 mln).
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PropertyEU Archive
Euragone transfers EUR 953m worth of properties to OPCI funds
Euragone, the French asset manager for Union Investment Real Estate, has transferred five real estate properties to newly established OPCI non-listed investment vehicles, for a total value of EUR 953 mln. The buildings were formerly owned by Union Investment Real Estate, French paper Business Immo reported on Friday.
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PropertyEU Archive
Hypo RE completes sale of asset management subsidiary
Germany property financier Hypo Real Estate said on Thursday that it had completed the sale of its Collineo Asset Management subsidiary to private bank group Sal. Oppenheim.
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PropertyEU Archive
Philip Churchill moves to Gatehouse Bank
Philip Churchill has been appointed head of real estate at Gatehouse Bank, a Shariah-compliant wholesale investment bank based in the City of London.
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PropertyEU Archive
Berlin State puts massive portfolio up for sale
The State of Berlin has announced it will put its real estate company, Berliner Immobilien Holding (BIH), on the market despite the global liquidity crisis and challenging economic conditions. BIH owns a portfolio consisting of 39,000 apartments and 3,000 commercial units for a market value of EUR 4-5 bn. The ...
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PropertyEU Archive
Retail parks boss to leave Capital & Regional
Capital & Regional, the UK co-investing property asset manager, has announced that John Gately is stepping down as managing director of the firm's retail parks business.
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PropertyEU Archive
Union Investment buys Vienna office building
Germany's Union Investment said on Thursday that it has bought the Solaris office building in Vienna for an undisclosed amount. Austrian property developer S + B Gruppe sold the building which provides 9,000 m[sup]2[/sup] of space and is located in the St. Marx district of Vienna. The property is earmarked ...
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PropertyEU Archive
Dynamique Hotels names new director
Dynamique Hotels, the hotel investment company created by CB Richard Ellis in 2006, said on Friday that it has named Philippe Pichlak to the position of general director of its management unit. Pichlak, aged 42, started his career in 1991 working for Pizza Hut. He was promoted to the post ...
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PropertyEU Archive
Multi and Grupo Lena pull out of Forum Leiria project
Netherlands-based property company Multi Development and Portuguese developer Lena Construcoes said that they are pulling out of the development of the Forum Leiria shopping centre project in Central Portugal because of delays and the difficult economic and financial conditions.
