All Real Assets articles in Web Issue – Page 36
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PropertyEU Archive
Riofisa bets on Bulgaria
Riofisa, the Spanish shopping centre developer, has said it will invest EUR 72 mln in a mixed-use construction project in Sofia, Bulgaria. The development, to be started in 2008, will cover an area of 54,000 m[sup]2[/sup]. This adds to other four major international investments by Riofisa, and is its third ...
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PropertyEU Archive
Bob Burns sells Villa Feltrinelli
Russian billionaire Viktor Vekselberg has acquired a 50% stake in the historic Villa Feltrinelli building for EUR 40 mln. The Villa was sold by the American investor Bob Burns to Vekselberg's energy company Renova. It is understood that the front-runners in the bid for the Villa were Viktor Vekselberg, who ...
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PropertyEU Archive
Skanska to build in Norway and the Czech Republic
Skanska, the Swedish construction giant, has been awarded a contract for the construction of a EUR 34 mln office complex from Nonnen Utbygging, a subsidiary of the real estate company Entra Eiendom. The development, located in Bergen, Western Norway, comprises two buildings of 14 and 11 storeys, with a total ...
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PropertyEU Archive
Skanska to build office in Crown Place
Sweden's Skanska was awarded a contract to develop a EUR 95.4 mln building at Crown Place, central London, from Greycoat Crown Place Partnership.
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PropertyEU Archive
Slough Estates to build Polish office building
Slough Estates has signed a EUR 20 mln contract with Hochtief Polska Budokor Branch for the construction of the Tulipan House office building in the Warsaw's Mokotov district. The 4-storey property will provide an area of 18,000 m[sup]2[/sup] and a two-level parking. Completion is scheduled for April 2008, Polish newspaper ...
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PropertyEU Archive
Delta purchases Theodorpark centre
Delta Development's German property unit Delta Immobilienentwicklung has purchased the Theodorpark Logistics Centre development in Germany from the global developer AMB Property Corporation for an undisclosed sum.
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PropertyEU Archive
Endesa control saga continues
Spanish construction and energy group Acciona has announced it has increased its stake in Endesa to 21%, and said it wants to own as many shares as possible to exert a major influence on the running of the utility company. Acciona can hold a maximum of 24.9% stake in Endesa ...
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PropertyEU Archive
Warimpex to sell 10 million shares
Vienna-based Warimpex Finanz und Beteiligungs plans to raise EUR 130 mln through the sale of 10 million shares at a price between EUR 8.5 and EUR 13 per share. The offer comprises six million new shares and four million existing shares, including an over allotment option of one million shares, ...
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PropertyEU Archive
DDE buys German portfolio for EUR 266 mln
AIM-listed property company Develica Deutschland Limited (DDE) has announced it is to acquire a German first-class office portfolio for EUR 266.3 mln in cash. The price reflects a net initial yield of 5.87%, Develica said in a press release.
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PropertyEU Archive
Accor buys control of 52 Dorint hotels
International hotel manager Accor has announced the acquisition of a 90% stake in a hotel portfolio comprising 52 Dorint hotels in Germany. The transaction price comes to EUR 127 mln and brings the total number of hotels operated by Accor in the country to 331. The company previously owned a ...
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PropertyEU Archive
GBP acquires Foncia stake for EUR 800 mln
Paris-based bank Groupe Banque Populaire (GBP) has agreed to acquire a 60.93% stake in the property management company Foncia Groupe for around EUR 800 mln. Banque Popularie, France's fifth-largest bank, is acquiring the shares from the founder Jacky Lorenzetti and his family holding company SEIP, which will retain about a ...
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PropertyEU Archive
ING to develop Akzo Nobel's new Amsterdam HQ
Chemicals giant Akzo Nobel has chosen ING Real Estate to develop its new corporate headquarters in Amsterdam. Akzo chairman Hans Wijer said the company was moving from its current base in the eastern Dutch city of Arnhem to the Dutch capital to improve international access to the headquarters and help ...
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PropertyEU Archive
Scottish Widows buys BAM HQ
Scottish Widows Investment Partnership (SWIP) has acquired the regional headquarters of Dutch construction group BAM from BAM Utiliteitsbouw and OVG Projectontwikkeling who are developing the building together. Construction work on 7,000 m[sup]2[/sup] BAM house is to start in February and the building is to be delivered by February 2008. The ...
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PropertyEU Archive
Sunrise to boost its presence in UK
US-based Sunrise Senior Living is to invest up to EUR 770 mln to develop assisted-living communities in the UK in a joint venture with Prudential Financial's property investment arm. Sunrise plans to develop 18 communities in the UK over the next four years through its new joint venture with N.J.-based ...
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PropertyEU Archive
Pirelli RE may buy HVB property funds
Pirelli Real Estate and another unidentified fund are bidding for two property funds currently owned by the Unicredito Italiano's German unit HypoVereinsbank, Italian newspaper IlSole24Ore reported on Sunday. The combined value of the funds is estimated to be about EUR 2.5 bn.
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PropertyEU Archive
Corestate buys German residential portfolios
Frankfurt-based Corestate Capital has acquired six residential portfolios spread across Germany for EUR 58 mln. The portfolios include 1,640 residential units in Frankfurt/Main, Hanover, Leipzig and Erfurt. The net initial yield of the transactions ranges between 8.5% and 9.5%.
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PropertyEU Archive
Countrywide takeover vote rescheduled
Countrywide, the UK's largest residential real estate broker, has postponed a shareholder meeting to approve the EUR 1.473 bn takeover bid by the private equity group 3i after it became clear that the number of shareholders voting against it was much higher than expected. Europe's biggest publicly traded buyout ...
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PropertyEU Archive
Deutsche Wohnen purchases mixed-use portfolio
German listed property company Deutsche Wohnen has announced the purchase of 426 residential and 12 commercial units from the insurance company LVM. The acquisition price ranges between EUR 41 mln and EUR 43 mln.
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PropertyEU Archive
Slough Estates to undo Tesco joint venture
Slough Estates is to unwind its 50/50 property joint venture with Tesco, the largest supermarket group in the UK, newspaper the Sunday Telegraph reported, citing a statement by Slough's ceo Ian Coull.
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PropertyEU Archive
GE RE targets Italian retail
GE Real Estate has completed the purchase of its first retail mall in Rome from the Aareal Italy Fund for EUR 60 mln and said it plans to invest a further EUR 386 mln to EUR 540 mln in the Italian retail and office sectors in 2007.
