All Real Assets articles in Web Issue – Page 375
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PropertyEU Archive
KanAm acquires Zurich hotel for EUR 22 mln
German investor KanAm has acquired the newly built Holiday Inn hotel in Zurich for EUR 22 mln. The hotel, which opened its doors in mid March, was acquired on behalf of KanAm Spezial grundinvest Fonds. The deal represents the first hotel acquisition for the German open-ended fund. The property was ...
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PropertyEU Archive
WW Advisors launches with EUR 225m pan-European Shariah mandate
WW Advisors, a new UK-based advisory boutique set up to provide specialised real estate investment advisory and financing advisory services throughout Europe, has been approved by the UK's Financial Services Authority (FSA).
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PropertyEU Archive
AXA IM leases Tripolis office building in Amsterdam
Fortis Investments Management has reached an agreement with AXA REIM for the leasing of the Tripolis office building in Amsterdam. The lease on the property comprising 5,745 m[sup]2[/sup] of office space and 295 of archive space in the city's Zuidas area runs from 1 November 2009. Fortis was advised by ...
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PropertyEU Archive
ING RE appoints new portfolio manager
ING Real Estate Select, the global multi manager business of ING Real Estate, has announced that Ivo de Wit will be joining the Global Portfolio Management Team at the beginning of April. De Wit was previously a Global Portfolio Manager within the Global Executive Team at ING Real Estate.
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PropertyEU Archive
Sonae Sierra appoints new managers to Italian unit
Portuguese shopping centre developer Sonae Sierra has appointed two managing directors at its Italian business. The company said that it has named Giancarlo Bianchi as new Managing Director of Sierra Developments Italy, replacing Pietro Malaspina who is taking up a new position. Giancarlo Bianchi (51) joined Sonae Sierra in 2007. ...
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PropertyEU Archive
Caltagirone tipped to bid for MPS assets
Italy's Caltagirone Group is said to be the frontrunner in a bid to acquire the real estate assets that Monte Paschi di Siena bank put on the market last year, news agency Radiocor reported. The properties, worth a total of EUR 2.2 bn, are being sold in a sale and ...
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PropertyEU Archive
Canary Wharf offers to buy back bonds at heavy discount - report
Canary Wharf Group has offered to buy back £185 mln of its securitised debt from bond holders at discounts of up to 85% of face value to take advantage of the prices being offered on illiquid corporate debt, the Financial Times reported on Monday. Canary Wharf Finance II, the securitisation ...
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PropertyEU Archive
German market 'has the best prospects for fast recovery'
Property professionals in Europe believe the bottom of the cycle has yet to come, according to a survey conducted by Messe München, the organiser of the Expo Real international proeprty fair in Munich.
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PropertyEU Archive
Swiss pension fund buys Schroders lease in London
Swiss pension fund AFIAA has entered the UK with the acquisition of the long leasehold of an office building in the City of London for a price said to be around £70 mln (EUR 77 mln).
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PropertyEU Archive
Goodman closes major European transactions
Goodman Group has concluded the pre-leasing of a 42,700 m[sup]2[/sup] facility in France to a leading luxury group and subsequently sold the project for a total of EUR 22 mln to a 'leading pan-European listed property group.' The facility is fully leased for a nine-year period.
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PropertyEU Archive
Commerz Real shops in France
German investor Commerz Real has acquired an office building in Paris for its CGS Immo-Spezial institutional fund for EUR 14.5 mln. Built in 1876 and refurbished in 2003, the property is located on Avenue Kleber in the prestigious 16th arrondissement and was sold by European Property, a fund managed by ...
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PropertyEU Archive
Italian property market feels delayed credit crunch effects
Italian commercial property capital growth finally fell into negative territory, by -2.5%, in the six months to the end of December 2008, according to the IPD Italian Biannual Property Index. The IPD said that after posting flat growth for the first half of last year, the delayed effects of ...
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PropertyEU Archive
Henderson shareholders back £107m bid for New Star
Henderson shareholders have backed a £107 mln (EUR 118 mln) cash offer to acquire 85% of New Star Asset Management, the company said this week. The offer will remain open for acceptance until further notice, it added.
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PropertyEU Archive
CFH buys Paris hotel at 20% discount
Capital France Hotel (CFH), a fund managed by Algonquin Asset Management France (AAMF), has bought the hotel Radisson Paris Boulogne in the first hotel deal so far this year in the French capital.
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PropertyEU Archive
LaSalle IM buys retail park from British Land for £91m
LaSalle Investment Management (LaSalle) announced on Tuesday that it has completed the acquisition of Silverlink Shopping Park, on behalf of one of its pension fund clients. The Park was bought from British Land in an off-market transaction for £91 mln (EUR 101 mln). Situated east of Newcastle city centre, the ...
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PropertyEU Archive
French annual property returns slip into negative territory, says IPD
Investment in French real estate markets delivered a negative return in 2008, at -0.9%, for the first time in the 11-year history of the IPD French Property Annual Index. After three successive years in which total returns were above 15%, French markets finally succumbed to property markets' re-pricing cycle which ...
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PropertyEU Archive
Colliers appoints new MD for Czech Republic
Colliers International has named Karel Stransky as Managing Director of its Czech office, based in Prague. Before taking this position, Stransky had been the Czech office's Director of Industrial Services for 13 years. Stransky started at Colliers International in Prague as a Senior Property Consultant in 1996.
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PropertyEU Archive
Apsys, Fonciere Euris terminate shopping centre JV in Poland and France
French property companies Apsys and Foncière Euris have ended their 'exclusive partnership' launched in 2004 for the development of shopping centres in France and Poland . As such, the two companies will exchange their respective stakes in the different projects, in a move which will give Foncière Euris full ownership ...
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PropertyEU Archive
CR Capital set to become third German REIT
CR Capital Real Estate is set to become the third real estate investment trust in Germany after it was granted pre-REIT status by the Federal Central Tax Office with retroactive effect from 5 January 2009. Alstria Office REIT and Fair Value obtained the REITstatus in 2007.
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PropertyEU Archive
Retail landlords to cut costs, says BPF
Some of the biggest landlord members have agreed a 10-point plan to help retailers cut costs, sealing a truce with Topshop, Next and numerous other high profile chains, the British Property Federation said on Monday.
