All Real Assets articles in Web Issue – Page 348
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PropertyEU Archive
Sansedoni sells office building for EUR 20m
Italian real estate firm Sansedoni has sold a property in Milan for a total of EUR 20 mln. In a statement on Friday, the group said it has signed a preliminary agreement with Baumann, a company controlled by Italian businessman Pietro Zanzucchi, to sell a 5,000 m[sup]2[/sup] office building. The ...
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PropertyEU Archive
CEE office demand to fall in 2009, says CBRE
Central & Eastern European (CEE) office markets continued to perform strongly in 2008 despite deteriorating economic conditions, but demand is likely to fall this year as occupiers process the effects of the current economic situation, according to CB Richard Ellis' CEE Offices MarketView Full Year 2008 report.
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PropertyEU Archive
Orion fund buys 7.25% stake in SFL
The Luxembourg fund Orion III European 3 has acquired over 3 million shares, representing a 7.25% stake in the French SIIC Societe Fonciere Lyonnaise (SFL). As a result, the company complies now with the French SIICs' shareholding limit of 60%. Orion III European 3 is managed by the European real ...
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PropertyEU Archive
Immobilière Frey invests EUR 25m in Madrid retail park
Frey Invest, the Spanish arm of Paris-listed Immobilière Frey, announced on Thursday that construction work has started on its Parla Natura retail park in the southern outskirts of Madrid. The project, which is 100%-financed and leased, is Frey´s second development in Spain, and will add to the El Golf retail ...
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PropertyEU Archive
WDP acquires 3 Belgian assets for EUR 30m
Warehousing group WDP has expanded its Belgian portfolio with the acquisition of three logistics sites from DHL's parent company Deutsche Post for a total of nearly EUR 30 mln. The all-share transaction reflects a gross yield of 8.7%. The sites, with a total area of 85,000 m2, will be leased ...
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PropertyEU Archive
AEW Europe OPCIs in EUR 360m spending spree
French fund manager AEW Europe, on behalf of its Foncière Ecureuil OPCI investment vehicle, has acquired a portfolio consisting of 45 retail, office, and logistics properties for around EUR 280 mln. The assets were sold by French banking giant Caisses d’Epargne at the end of December. The Ecureuil OPCI is ...
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PropertyEU Archive
Nexity sells Credit Foncier stake to CNCE for EUR 540m
France's Nexity said on Friday that it has completed the sale of its 23.4% stake in Credit Foncier de France to banking group Caisse Nationale des Caisses d’Epargne. Nexity announced in December it was in talks with CNCE to sell the asset. The transaction amount comes to a total of ...
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PropertyEU Archive
Investment volume plunges 80% in Hungary
Property investment volumes in Hungary plunged 80% in 2008 to EUR 409 mln, real estate adviser DTZ said in a new report. Major transactions in 2008 included GLL' s EUR 130 mln purchase of Bank Center and UniImmo Global’s EUR 60 mln acquisition of Krisztina Palace. The main industrial transaction ...
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PropertyEU Archive
Kempen & Co. halts hedge fund activities
Amsterdam-based investment bank Kempen and Co. has decided to terminate its property hedge fund following significant losses last year, Paul Gerla, director investment management, told Dutch financial daily het Financieele Dagblad.
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PropertyEU Archive
CBRE launches new debt advisory office in Germany
Global property consultant CB Richard Ellis said that it is expanding its debt advisory business with the opening of a new German office. The group has named Dirk Richolt (38) as head of the new business. He has over 12 years of experience in real estate finance and is joining ...
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PropertyEU Archive
Aedes asks for extension on debt restructuring
Italy's troubled property company Aedes Immobiliare said on Friday that it has requested an extension from a consortium of potential bidders to reach an agreement with creditor banks on a restructuring of its debt. The property developer, which in early December announced that it had received a bid from a ...
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PropertyEU Archive
Provast, Bemog sell Emmeloord project to Altera
Dutch developers Provast and Bemog Projektontwikkeling have signed an agreement to sell the cinema and the commercial space at the Emmeloord Centrum project in Noordoostpolder, the Netherlands, to Altera Vastgoed for EUR 50 mln. The project, for a total investment of EUR 85 mln, consists of 10,000 m[sup]2[/sup] of retail ...
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PropertyEU Archive
PEPR appoints new CEO
Prologis European Properties, one of Europe's largest owners of modern distribution facilities, said on Thursday that it has appointed Peter Cassells, its current chief financial officer, to the post of chief executive officer per February 2, 2009. He will succeed Gordon Keiser, who has announced his retirement.
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PropertyEU Archive
Helaba opens offices in Berlin and Munich
Germany's regional bank Helaba Landesbank Hessen-Thüringen said on Thursday that it will open two offices in Berlin and Munich in January and February this year. The decision is part of the company's strategy aimed at expanding its domestic real estate business.
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PropertyEU Archive
Morgan Stanley vacates space at Canary Wharf
Morgan Stanley is to vacate a quarter of its office space at Canary Wharf from February 2010, Songbird Estates confirmed on Friday. In a press release, the company said that its subsidiary, Canary Wharf Group (CWG), has received notice from Morgan Stanley that it would on that date exercise the ...
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PropertyEU Archive
London & Stamford closes purchase of London's One Fleet
AIM-listed property investment company London & Stamford (L&S) said on Thursday it has completed the acquisition of One Fleet Place, EC4, London from Legal & General Assurance for £74 mln (EUR 80 mln). The deal was first announced at the beginning of January.
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PropertyEU Archive
Pramerica sets up London team to invest in European real estate debt
Pramerica Real Estate Investors, the US investment manager with $47 bn (EUR 35.8 bn) of assets worldwide, is expanding its real estate finance activities with the launch of a new team based in London which will invest in commercial real estate mezzanine structures across Europe. Prudential Financial's management arm said ...
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PropertyEU Archive
Degi Europa sells retail property in Mainz
Degi, part of Aberdeen Property Investors, has sold a retail property belonging to the portfolio of its Degi Europa open-end property fund. The price is believed to be around EUR 50 mln. In a statement on Thursday, the company said that the purchase price matches its market value. The property ...
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PropertyEU Archive
IFM Group strengthens management team
IFM Immobilien, an investor and project developer in commercial properties, has appointed Tobias Sauerbier as an additional managing director of its subsidiary IFM Asset Management. In his new capacity, Sauerbier will have particular responsibility for project development and project management, the company said in a press release.
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PropertyEU Archive
Henderson to acquire New Star for EUR 128m
UK fund manager Henderson Group is acquiring its troubled peer New Star Asset Management for a total of £115 mln (EUR 128 mln). Henderson, which will raise £65 mln from a share issue to finance the deal, said it expects to become the 5th largest UK retail fund manager with ...
