All Real Assets articles in Web Issue – Page 343
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PropertyEU Archive
'UK property losses could trigger second credit crunch'
Commercial property companies, banks and investors must look to broader restructuring and refinancing solutions, says Close Brothers, a European corporate finance adviser. The group is urging banks and investors in the UK property sector to devise alternative financing solutions in the face of a potential £140 bn (EUR 155 bn) ...
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PropertyEU Archive
Estcapital sells retail property in Verona
Italy's Estcapital, on behalf of its RealShops fund, has sold a building located in the historic centre of Verona, Northern Italy, and fully leased to the fashion retail chain Gruppo Coin. The property, with 6,000 m[sup]2[/sup] of lettable area, was sold for EUR 19 mln, a 17% increase on the ...
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PropertyEU Archive
UFG sells industrial project in St Petersburg
UFG Real Estate said it has sold two plots of land in its Fyodorovskoe Industrial Park project located south of St Petersburg, Russia, for an undisclosed amount. The company added that it is realising an aggregate net Internal Rate of Return of 67.75% from the disposal. The two sites were ...
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PropertyEU Archive
Top 5 deals, Week 3 (12 - 16 January 2009)
The largest real estate investment transaction reported by PropertyEU between 12 - 16 January 2009 was the acquisition by French fund manager BNP Paribas REIM of logistics and office properties in France for a total of EUR 229 mln.
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PropertyEU Archive
Vila Sol to invest EUR 186m in Portuguese tourist resorts
Portuguese tourist group Vila Sol has signed two public private partnership projects with the municipality of Alijo in Northern Portugal to develop two resorts in the Douro region of Porgual. The company will invest up to EUR 186.5 mln in these projects, which include the development of two hotels with ...
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PropertyEU Archive
IHG to add 20 new Holiday Inns in Germany
InterContinental Hotels Group (IHG) has signed a franchise agreement with Foremost Hospitality to introduce 20 new Holiday Inn and Holiday Inn Express hotels in Germany by 2016.
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PropertyEU Archive
Anglo Irish 'could face EUR 450m writedowns'
Anglo Irish Bank, which is being nationalised, may have to write down the value of its commercial property loan book by as much as EUR 450 mln following a legal ruling in Ireland.
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PropertyEU Archive
FdR signs big lease at La Defense tower
Fonciere des Regions has announced that French water treatment firm Suez Environment is to lease 42,000 m[sup]2[/sup] of space at the CB 21 Tower in La Defense business district in Paris. 'This transaction is excellent news for the office market and it confirms the attractiveness of La Defense to leading ...
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PropertyEU Archive
Union Investment receives DGNB certs for three buildings
Union Investment Real Estate has said that three buildings from portfolios it manages are among the first in Germany to be awarded certification by the German Sustainable Building Council (DGNB).
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PropertyEU Archive
Fall in UK commercial property capital values continues: IPD
UK commercial property returns ended 2008 at -5.3% in December, according to the IPD UK Monthly Index. December saw a third consecutive record capital value fall, this time by -5.8%. The final monthly figure brings All Property capital value declines over 2008 to -27.1%, while the overall peak-to-trough decline - ...
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PropertyEU Archive
Doughty Hanson names head of Nordic team
European real estate fund manager Doughty Hanson & Co Real Estate has appointed Anders Tagt as a principal and head of its Nordic team. Tagt, who is based in the firm's Stockholm office, joins Doughty Hanson following seven years at Hypo Real Estate Bank International. He served as a senior ...
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PropertyEU Archive
ICSC reports strong increase in European membership
The International Council of Shopping Centers Europe has reported an increase of almost 40% in membership numbers over the last year, making it the fastest growing region of ICSC between 2007 and 2008.
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PropertyEU Archive
Colliers CRE posts 33% drop in 2008 revenues, to cut 70 jobs
AIM-listed real estate consultancy group Colliers CRE saw its revenues fall by a third last year on the back of a deteriorating commercial property market, in particular in the UK, Ireland and Spain.
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PropertyEU Archive
French property investment drops by 54% in 2008
French property investment activity fell 54% to EUR 13 bn in 2008, from EUR 28.5 bn a year before, according to research published by Cushman & Wakefield.
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PropertyEU Archive
KPP leases 40% of flagship Galeria Victoria project
Keen Property Partners Retail (KPP Retail) has leased around 40% of its Galeria Victoria mixed-used complex in Walbrzych, Poland, before starting construction of the scheme. The group, which has hired CB Richard Ellis to market the project, said new lease agreements were signed with retailers Choco Cafe, Empik, Everest, Gatta, ...
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PropertyEU Archive
DIC sells Frankfurt's Grunhof centre for EUR 47m
DIC Group has sold the Grunhof commercial centre in Frankfurt which comprises 15,000 m[sup]2[/sup] of office and commercial space to Bayerische Versorgungskammer (BVK) for about EUR 47 mln.
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PropertyEU Archive
DTZ raises £49m from investors
Global property consultant DTZ said it has raised £48.7 mln (EUR 53.7 mln) of new equity through the sale of almost 80 million shares. The company received £35 mln from its largest shareholder, France's SGP Investors, and £13.7 mln from other existing and new investors.
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PropertyEU Archive
Caixa Catalunya buys 49% of troubled Spanish developer
Spanish bank Caixa Cataluna has acquired the remaining 49% stake it did not own in troubled real estate developer Alcala 120. The transaction is taking place as a debt-for-equity swap and totals some EUR 410 mln. The stake was sold by Grupo Silver Eagle, according to Spanish news agency EFE.
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PropertyEU Archive
Aerium launches EUR 675m Swiss property fund
London-based investment and management group Aerium has announced the launch of two institutional real estate funds focussed exclusively on the acquisition and development of property located in Switzerland. The funds have raised equity from a number of European, US and Middle Eastern pension funds, institutional investors and hedge funds, providing ...
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PropertyEU Archive
Redevco acquires prime property in Katowice
Dutch property group Redevco has increased its Polish portfolio with the acquisition of the Pedant building in Katowice, Poland. Redevco purchased the property from Centrum Development & Investment, a Belgian investor and developer, for EUR 4 mln.
