All Real Assets articles in Web Issue – Page 374
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PropertyEU Archive
Jelmoli's newly listed Athris unit has EUR 330m warchest
Swiss property company Jelmoli has completed the separate listing of its Athris unit on the Swiss stock exchange. In a statement this week, the company said the listing, which was in line with its business plan, has boosted the group's combined market capitalisation to approximately CHF 2.05 bn (EUR 1.35 ...
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PropertyEU Archive
Helaba provides EUR 80m financing to Europolis
German regional bank Helaba Landesbank Hessen-Thueringen is providing a EUR 80 mln financing to Austria's Europolis for the development of the Saski Crescent office building and Europolis Park Phase I in Warsaw. The Saski Crescent building is located in the central business district of Warsaw, comprising 15,300 m[sup]2[/sup] gross lettable ...
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PropertyEU Archive
Julius Meinl detained over alleged real estate share fraud
Julius Meinl V, chairman of Austrian family owned Meinl Bank, was detained on Wednesday for questioning in relation to allegedly defrauding shareholders at real estate company Meinl European Land (MEL) and two other companies. Meinl has reportedly denied any wrongdoing.
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PropertyEU Archive
Multi Vastgoed completes leasing of Amersfoort office project
Multi Vastgoed has entered into a 10-year lease agreement with the HOB Support Agency for a new office at the Brouwershof office complex in Amersfoort.
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PropertyEU Archive
Atrium completes its first Romanian mall
Atrium, the shopping centre specialist focused on Central and Eastern Europe, has completed and opened the extension of 'Militari Shopping', its first shopping centre in Romania.
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PropertyEU Archive
IVG Immobilien tops list of week's best performers
Germany's IVG Immobilien was Europe's best performing real estate stock last week, figures from GPR show. The share price rose 37.6% between 23 and 27 March after the company reached agreement to combine EUR 1.3 bn of credit lines which were due to mature in the next two year into ...
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PropertyEU Archive
UK market may be bottoming out - JLL survey
The deterioration in confidence in the commercial real estate investment market has softened in the first quarter of this year, according to the findings of Jones Lang LaSalle's real estate investor confidence sentiment survey.
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PropertyEU Archive
Financial services cut jobs as incomes and business levels fall sharply - PWC
The UK financial services sector has been hit by record drops in income levels while business volumes have continued to fall sharply, according to the latest CBI/PWC Financial Services Survey released this week. The industry has cut jobs at the fastest rate since 1993 to try and trim costs and ...
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PropertyEU Archive
German property returns reveal minor correction in values
Investment in German real estate returned a total return of 3.5% in 2008, just one percentage point lower than in 2007, according to the IPD Germany Annual Property Index for 2008. The marginal fall on the prior 12 months is in sharp contrast to the significant re-pricing which most other ...
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PropertyEU Archive
PEPR renews 12,000 m[sup]2[/sup] lease in Germany
Prologis European Properties, one of Europe's largest owners of modern warehouse distribution facilities, announced on Tuesday that it has renewed a 12,000 m[sup]2[/sup] lease with one of Europe's leading fashion retailers. The lease agreement is a 10-year renewal, to February 2019, at current market rents at Prologis Logistic Park Muggensturm ...
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PropertyEU Archive
Multi opens phase 1 of largest German inner-city retail development
Multi Development has opened the first phase of the 76,000 m[sup]2[/sup] Boulevard Berlin, the largest inner-city retail scheme in Germany. The first phase provides 24,000 m[sup]2[/sup] of gross leasable area in the development located in the middle of the Schloßstraße, a major shopping streets in Berlin.
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PropertyEU Archive
Goodman receives permit to build £120m logistics facility
Australia-based property group Goodman said on Wednesday that it has secured full planning consent for the £120 mln (EUR 130 mln) development of the former Andover Airfield site. The proposal includes 1.25 mln sq ft (929,000 m2) of warehouse space incorporating a single building of 863,000 sq ft, along with ...
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PropertyEU Archive
Santander buys Abbey HQ in London for EUR 154m
British Land has completed the sale of 2-3 Triton Square, Regent's Place, London to Abbey, part of Spanish bank Grupo Santander, for £115 mln (EUR 154 mln). The investment volume reflects a net initial yield of 7.2%.
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PropertyEU Archive
Warner Estate finalises EUR 43m sale of St Johns Wood High Street
London-based Warner Estate has exchanged and completed contracts for the sale of its St Johns Wood High Street estate in London to NW8 Holdings for £39 mln (EUR 43 mln). Warner Estate said the property had a book value of £48 mln at end-September 2008 and contributed £2.1 mln ...
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PropertyEU Archive
Rreef appoints new head of asset management
Deutsche Bank's Rreef Management said that Robert Cervinka is joining the management board as head of Asset Management and Transactions for Germany, Austria and Switzerland with responsibility for the acquisition, management, development, leasing and disposition of core, value-added and opportunistic real estate assets. Cervinka will be based in RREEF's Eschborn ...
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PropertyEU Archive
Bank Hapoalim increases facility to cover development of Park Plaza Westminister
International hotel and resorts group Park Plaza has announced that its subsidiary, Marlbray, has signed an agreement with Bank Hapoalim to increase the size of its facility for the Park Plaza Westminster Bridge project in London to buy for the total development cost.
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PropertyEU Archive
Pik hires Sberbank Capital for debt restructuring
PIK, the London-listed Russian residential property developer, has mandated Sberbank Capital, an investment arm of Russian bank Sberbank, to advise on restructuring the company's debt portfolio. Pik said its total debts come to RUB 44.8 bn (EUR 998 mln). The group's major credits include Sberbank, Vnesheconombank (VEB), Rosbank, VTB, ...
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PropertyEU Archive
Hypo to consolidate staff in new complex north of Munich
Hypo Real Estate has announced it is to relocate in the third quarter of this year to a new office complex located in Unterschleissheim, north of Munich. All the property financier's staff based at five different locations across Munich will be brought together in the new complex.
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PropertyEU Archive
CAAM RE leases 50,000 m[sup]2[/sup] logistics facility in Chatres
CAAM Real Estate, through its SCPI Edissimo, has delivered a new logistics facility of 49,000 m[sup]2[/sup] in the Val Bréon logistics park in the Ile de France region. The scheme in Châtres was developed for logistics firm Kuehne + Nagel and represents the largest logistics leasing in Ile-de-France since January ...
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PropertyEU Archive
DebtX to sell EUR 138m European non-performing loans
DebtX, the Boston-based loan sale adviser, has announced it is selling EUR 138 mln in non-performing loans from three financial institutions in Germany and Italy. The company said it will sell EUR 94 mln in non-performing loans secured by commercial real estate located throughout Germany on 23 April. On 14 ...
