All Real Assets articles in Web Issue – Page 35
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PropertyEU Archive
GAGFAH acquires EUR 370 mln residential portfolio
Germany-based GAGFAH has announced the purchase of 5,900 residential units in Berlin for EUR 370 mln. The properties are in several areas of Berlin and have a total gross lettable area of 360,000 m[sup]2[/sup]. The vacancy rate for the portfolio comes to 11.2%. The gross yield ghas been estimated to ...
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PropertyEU Archive
Rezidor Hotel Group buys new hotels in 4 countries
Stockholm-listed Rezidor Hotel Group has acquired two new Park Inn developments in Sweden and the UK, and two more hotel developments in Ukraine and the United Arab Emirates. The Park Inn development in Stockholm, which adds to other 15 Park Inn hotels in Sweden, will provide 177 rooms on 18 ...
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PropertyEU Archive
Aberdeen property fund purchases 7 assets
Aberdeen Property Fund Denmark has acquired seven commercial properties in Denmark covering some 110,000 m[sup]2[/sup] for EUR 90 mln. Five of the properties are located in the Greater Copenhagen area and two logistics premises are located in Horsens, Eastern Jutland.
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PropertyEU Archive
Rodamco Europe sells office building for EUR 75 mln
Rotterdam-headquartered Rodamco Europe has announced the sale of the Robeco-huis office building to the German property investment fund KanAm Grundinvest for around EUR 75 mln. The transaction reflects a net initial yield of 5.3 %, the company said in a press release.
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PropertyEU Archive
Cerberus snaps at Blackstone's heels in EOP deal
US private equity firm Cerberus Capital Management is reportedly preparing to launch a rival bid for Equity Office Properties (EOP), the largest office landlord in the US. The prospect of a bidding war is the latest twist in a saga which began in November when EOP, part of the empire ...
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PropertyEU Archive
CapMan RE I's portfolio sale to be completed by January
CapMan RE has announced that the sale of 22 commercial properties managed by its Fund I to an investor group formed by Samson Properties, the Royal Bank of Scotland (RBS) and Ajanta Oy is expected to be completed on January 31, 2007. The company also said the transaction will not ...
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PropertyEU Archive
Pirelli RE to raise stake in Germany's DGAG
Pirelli RE has completed the purchase of 96.83% of Deutsche Grundvermoegen (DGAG), and said it intends to buy a further 2.54% in the German company, through an agreement with the entrepreneurs Abert Buell and Cornelius Liedtke. The total investment by Pirelli in the property group comes to EUR 465 mln.
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PropertyEU Archive
Standard Life launches two global REIT funds
Standard Life Investment, one of the largest property fund managers in Europe, has announced the launch of two new global property funds aimed at institutional and retail investors in the UK and Europe.
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PropertyEU Archive
REITs provide retail investors with 'new opportunities'
REITs campaign group Reita has emphasised that real estate investment trusts can provide retail investors with new opportunities to invest in commercial property. Reita comments follows a statement by F & C AM, which claimed that REITs 'will not provide a substitute for investing in property directly'.
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PropertyEU Archive
31,000 unit Blackstone portfolio in demand
Pirelli RE, GAGFAH, and Deutsche Annington are interested in buying a portfolio of 31,000 German residential units from Blackstone, newspaper Financial Times Deutschland (FTD) has reported. The portfolio is spread across the Schleswig-Holstein, Bremen and North Rhine-Westphalia regions.
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PropertyEU Archive
Custom House in 1st French purchase
Irish investment fund Custom House Capital has entered the French market with the purchase of two office developments in Marseilles from Bouygues Immobilier for EUR 55 mln. The Plein Ouest building is located in the new district Saumaty Seon and provides an area of 11,072 m[sup]2[/sup] with 290 parking spaces. ...
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PropertyEU Archive
Puma captures 2nd largest office building in Frankfurt
Puma Brandenburg, an investor in German real estate, has acquired a Frankfurt office complex from the Deka Immobilien open-ended fund for EUR 199 mln. The building, with an area of 88,000 m[sup]2[/sup] and 1,500 parking spaces, is the second largest office building in Frankfurt.
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PropertyEU Archive
Cofinimmo sells six properties for EUR 231.5 mln
Belgian real estate company Cofinimmo has disposed of six office buildings for a total of EUR 231.5 mln, an average of 12.8% above the investment value. The buyers were three German funds and a Belgian investor, but Cofinimmo did not identify them by name.
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PropertyEU Archive
Belgium may raise EUR 250 mln with office sales
The Belgian government plans to raise between EUR 200 mln and EUR 250 mln through the sale of office buildings in a sale-and-lease back agreement, Belgian newspaper De Tijd reported. The government will retain a 10% stake in the sold buildings. The transactions are expected to close before the elections ...
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PropertyEU Archive
German real estate investment hits EUR 49 bn
Commercial real estate transactions in Germany reached a record EUR 49.4 bn in 2006, approximately 109% more than the previous year. The strong rise 'reflects the unbroken confidence, particularly among foreign investors, in Germany,' the German section of real estate advisor Atisreal said.
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PropertyEU Archive
Simoga buys Porto plot for EUR 60 mln
Real estate firm Sociedade Imobiliaria de Gaia (Simoga) has invested about EUR 60 mln in the purchase of a two-hectare plot of land in Porto, northern Portugal. The company intends to invest about EUR 175 mln on the site to build a mixed-use development, Simoga's commercial manager Maria Massada said ...
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PropertyEU Archive
Fraport to develop Frankfurt Airport area
Fraport's real estate subsidiary has started the construction of its Monchhof property development area, which stretches along the southern bank of the Main river near Frankfurt Airport in Germany.
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PropertyEU Archive
CAAM RE sells the Archipel portfolio
Credit Agricole Asset Management Real Estate (CAAM-RE) has completed the sale of its mixed-use Archipel portfolio through its property investment fund SCPI Edissimmo for EUR 127.5 mln. The portfolio comprises 64 assets for a total lettable area of about 164,000 m2, including 24% for office use and 76% for commercial ...
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PropertyEU Archive
Hypo RE bank to finance DGAG's purchase by Pirelli
Hypo RE Bank will finance the purchase of 96.83% of Deutsche Grundbesitz (DGAG) by Pirelli RE, the bank has said in a press release. Hypo RE has already provided Pirelli RE with financing of EUR 290 mln and will provide the further EUR 900 mln in the next few months.
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PropertyEU Archive
Bedford to get retail makeover
St Mowden Properties has submitted plans to the Bedford Borough Council for a retail-led regeneration scheme in the centre of Bedford, Southern England. The proposals include the development of 117,348 m[sup]2[/sup] of retail space comprising a department store, a 130-room hotel as well as a new bus station, Property ...
