All Real Assets articles in Web Issue – Page 37
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PropertyEU Archive
Grosvenor purchases Paris retail park
International property group Grosvenor has acquired a 18,000 m[sup]2[/sup] retail park in Claye Souilly, France, for EUR 34 mln. The 17 retail units are located 25 km east of Paris and serve a population of about 200,000 inhabitants. Anchored by a Carrefour hypermarket that has been recently extended to include ...
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PropertyEU Archive
Gruppo Statuto buys Crowne Plaza for EUR 123 mln
Italian real estate investor Gruppo Statuto has acquired a 33.3% minority interest in Crowne Plaza Hotel in the financial district of London from a consortium of investors including InterContinental Hotels Group, the world's largest hotel company by room count, and two Middle Eastern investors through Jones Lang LaSalle Hotels. The ...
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PropertyEU Archive
German open-ended funds book 4.3% increase in 2006
German open-ended funds booked an average 4.3% increase in value in 2006, the highest level in four years, the German investment funds BVI said based on its examination of the results of 30 of the largest open-ended funds last year. Over a period of 10 years, the average value increase ...
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PropertyEU Archive
DEGI reinvests office proceeds in EUR 204 mln factory outlet
German real estate manager DEGI has ploughed the proceeds of what has been described as Italy's largest single office transaction of 2006 into the acquisition of a factory outlet centre in northern Italy. DEGI purchased the 'Franciacorta Outlet Village' in Rodengo Saino near Brescia in northern Italy from a consortium ...
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PropertyEU Archive
Warburg-Henderson invests EUR 238 mln Europe portfolios
The Warburg-Henderson property joint venture has completed the purchase of two warehouse portfolios in Europe for EUR 115 mln and EUR 123 mln respectively.
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PropertyEU Archive
Metrovacesa to develop 4th business park in Barcelona
Metrovacesa, Spain's largest property company, has acquired a plot of land in Barcelona for EUR 33 mln. The company purchased a 3,769 m[sup]2[/sup] plot in Barcelona's business district and intends to develop a business park on the site, the company said in a press release. The property has a build-on ...
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PropertyEU Archive
Banimmo buys EUR 45 mln Dolce Chantilly
Belgium-based Banimmo has acquired the hotel and conference centre Dolce Chantilly from the property company AEW for EUR 45 mln. The property, located in the heart of the 80-hectare Chantilly forest, 38 km north of Paris, features 32 conference rooms, two swimming pools, an 18-hole golf course, as well as ...
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PropertyEU Archive
ING Bank to sell 6.5% of Sol Melia
Amsterdam-based ING Bank has said it will sell up to 6.5% of hotel manager Sol Melia to a group of 'qualified investors' in Spain and overseas, confirming earlier market rumours. The Dutch group told the Spanish stock exchange commission CNMV on Tuesday that the offer comprises 12 million shares, which ...
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PropertyEU Archive
Pradera fund buys EUR 70 mln mall
Investment fund Pradera European Retail has acquired the Marina shopping centre from the property company Ballester for EUR 70 mln, Pradera's advisor Knigth Frank said on Monday. The mall is located 40 km from Alicante in southern Spain, next to the tourist town of Benidorm. Opened in 2000, the retail ...
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PropertyEU Archive
Henderson invests EUR 76 mln in France
London-headquartered Henderson Global Investors has completed four acquisitions on behalf of the AUB French Logistics fund for a total of EUR 76 mln. The asset management company purchased a 112,000 m[sup]2[/sup] business and warehouse portfolio comprising 21 buildings and a mixed warehouse, business and office building development of about 9,000 ...
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PropertyEU Archive
Acciona may get high profits through Endesa
While the battle for control of Endesa has not yet been resolved, Acciona's investments in Spain's biggest electric company are providing large revenues to the Spanish builder. The construction company has invested some EUR 7.55 bn to build up a total 21.03% stake in Endesa. This interest is currently ...
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PropertyEU Archive
AXA acquires Rotterdam tower for Immoselect fund
AXA Real Estate Investment Managers has acquired the Hofpoort office tower in Rotterdam on behalf of its German property fund Axa Immoselect. The vendor was IEF Capital, a joint venture between Dutch companies Bouwfonds Asset Management and Inflation Exchange Fund. The transaction price was not disclosed, but it is believed ...
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PropertyEU Archive
Atisreal boosts its presence in France
BNP Paribas RE's Atisreal unit has acquired the Paris-based hotel manager and property advisor SP & Partners for an undisclosed amount, and at the same time is creating the European-dedicated Atisreal Hotels unit in France. This new arm will focus on property transaction and consultancy, and will work in ...
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PropertyEU Archive
Foruminvest to build Italian mall
Foruminvest's Italian arm has been awarded the contract for its second shopping centre development project in southern Italy. The Mongolfiera Molfetta shopping centre will provide a gross lettable area of 35,000 m2, comprising 350 shops and restaurants anchored by a 10,000 m[sup]2[/sup] Coop hypermarket, and about 3,000 parking spaces. The ...
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PropertyEU Archive
ULI conference seeks to 'unlock' European growth
Europe's economies must be more resourceful to compete for growth at a time when much of the attention has been grabbed by the waking powerhouses of China and India, according to the Urban Land Institute.
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PropertyEU Archive
INREV sets out corporate governance guidelines
The European association of non-listed real estate vehicles (INREV) has launched the first pan-European corporate governance framework for private real estate funds.
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PropertyEU Archive
Immorente purchases Paris retail portfolio
French SCPI-listed property company Immorente has acquired a portfolio of Paris shops from Gecina for EUR 31.5 mln. The portfolio comprises 60 ground-floor shops located in the 17th arrondissement of Paris. Locare and Oudot & Associes advised on this transaction, French newspaper Business Immo reported.
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PropertyEU Archive
Roche & Dubar invests EUR 10 mln in Lille region
Lille-based property company Roche & Dubar has completed three acquisitions in northern France for about EUR 10 mln. The purchases include a 1,500 m[sup]2[/sup] office building under development acquired from developer Palm for EUR 2.7 mln. The transaction value reflects a yield of 8%. The group also purchased two 7,300 ...
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PropertyEU Archive
Riofisa to invest EUR 120 mln in Madrid project
Spanish property company Riofisa has acquired a 330,000 m[sup]2[/sup] plot of land in Torrejon de Ardoz, 18 km from Madrid, to develop a logistics and office centre on the site. The company said in a press release that it plans to invest EUR 120 mln in the Megacampus Logistico development.
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PropertyEU Archive
Boston Consulting to lease 6,400 m[sup]2[/sup] in Amsterdam's Zuidas
The Boston Consulting Group (BCG) has become the second major international company to announce this week that it is moving to the Zuidas business district in Amsterdam. The management consulting firm is to lease 6,400 m[sup]2[/sup] spread over the 5th, 4th and part of the 3rd floor of the SOM ...
