All Real Assets articles in Web Issue – Page 376
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PropertyEU Archive
CBRE names new head of CEE hotel unit
CB Richard Ellis has announced the promotion of Jean-Francois Laporte and Martin Thom as joint heads of department for the Hotels Consultancy team for Central and Eastern Europe. Jean-Francois Laporte who joined CBRE in 2006 has been working in the hotel industry for 10 years and was previously employed by ...
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PropertyEU Archive
MGPA, Concerto lease Logiffine in Valence
Private equity group MGPA and Concerto European Developer have announced the leasing of the Logiffine logistics park development in Valence, Southern France, to LPG Finance Industrie, a leader in professional technologies in treatment and aesthetic care. Recently, MGPA said it had leased the Logiffine site in Lille to Simastock of ...
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PropertyEU Archive
Credit Suisse launches first green property fund in Switzerland
Credit Suisse has described its new real estate green fund as the first in Switzerland to invest in Swiss real estate projects and properties that meet sustainability and energy efficiency criteria. The CHF 300 mln (EUR 197 mln) Credit Suisse Real Estate Fund Green Property (CS REF Green Property) will ...
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PropertyEU Archive
IGD signs new JV with Domo for Romanian malls
Igd Siiq, Italy's only real estate investment trust, has signed a partnership with Romanian electronic retailer Domo under which Domo will take space in nine of the 15 Winmarkt commercial centres that Igd purchased in Romania in April 2008. Domo will open a 1,000 m[sup]2[/sup] store in the Bistrita shopping ...
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PropertyEU Archive
The Junction Fund talks with potential investors
Capital & Regional, the co-investing property asset manager, has confirmed that The Junction Fund is in discussions with potential equity investors as part of its plans to strengthen its financial position. The Financial Times said the potential investor is US-based Area Property Partners.
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PropertyEU Archive
Union Investment to spend EUR 138m on Emporio extension
Germany's Hochtief Construction has been awarded the development of the new Emporio district in Hamburg from its owner Union Investment. The project, which will extend the multy-storey building previously occupied by Unilever, will require an investment of EUR 138 mln. Construction work will begin in the spring 2009 with completion ...
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PropertyEU Archive
Prologis announces pricing for 152 million share offer
New York-listed Prologis has announced the pricing of 152 million common shares in a public offering at a price of $6.60 per share. The company has granted the underwriters a 30-day option to purchase up to an additional 22.8 million shares to cover over-allotments, if any. Merrill Lynch & Co., ...
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PropertyEU Archive
VTB Bank takes 20% stake in Sistema-Hals
VTB Bank has bought a 19.5% stake for 30 roubles a share in Russian property developer Sistema-Hals, the company said on Wednesday. The stake was sold by the group's major shareholder, Sistema, which previously owned a 69.4% stake in the company. VTB also received a call option to acquire a ...
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PropertyEU Archive
Helvetica fund yields 24.3% return in 2008
Helvetica Property real estate fund has announced that it recorded a 'very high return by international standards' of 24.3% in 2008.
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PropertyEU Archive
Corio acquires Turkish mall for EUR 68m
Dutch property company Corio has acquired the Tekira shopping centre in Tekirdag, Turkey. The transaction price amounts to EUR 68 mln, reflecting a gross yield of 8.9%. The current occupancy rate of the centre, with a gross lettable area of 30,600 m2, is 94%, Corio said. The firm has managed ...
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PropertyEU Archive
Cambridge Place takes over asset managment of EB8 fund
London-based Institutional investment manager Cambridge Place real has taken over the asset management mandate for European industrial property fund EB8 from GPT Halverton. The fund owns EUR 250 mln of warehouse and light industrial properties. The lion's share of the properties are in Germany (23), with seven located in Denmark, ...
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PropertyEU Archive
Gecina plans 'definitive abandonment' of split-up plan
French property company Gecina said it is considering the 'definitive abandonment' of the separation plan agreed with Spanish parent company Metrovacesa in February 2007. In a separate statement on Wednesday, Metrovacesa said that, as a member of Gecina's board, it has not approved the decision taken by Gecina and has ...
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PropertyEU Archive
STE boosts asset management with new appointments
Societe de la Tour Eiffel said it has strengthened its asset management unit, Awon Asset Management, with two new appointments. The company has named Odile Batsère and Nicolas Ingueneau as Asset Management and Investment Director of Awon Asset Management
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PropertyEU Archive
Cap & Reg sells London asset to repay debt
Capital & Regional, the UK co-investing property asset manager, said on Wednesday that its 19.4%-owned and managed X-Leisure Fund has completed the sale of the 02 Centre on London's Finchley Road for £92.5 mln (EUR 103 mln). The property has been sold to US investment management firm Matterhorn Capital. The ...
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PropertyEU Archive
British Land signs major pre-lets for Ropemaker
British Land, the UK's second largest REIT, said that the Bank of Tokyo-Mitsubishi UFJ and Mitsubishi UFJ Securities International have signed a pre-letting agreement for up to 38% of its new 586,000 sq ft Ropemaker office development in the City of London, EC2. The 20-storey office building will achieve practical ...
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PropertyEU Archive
Colliers CRE plunges into the red
Colliers CRE, one of the UK's leading commercial real estate consultancy service groups, has reported a post-tax loss of £10 mln (EUR 11 mln) in 2008 compared with a profit of £7.9 mln a year before following 'profoundly difficult markets'. In its preliminary figures issued on Tuesday, the broker said ...
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PropertyEU Archive
Crowne Plaza hotels open in Paris and London
InterContinental Hotels Group (IHG) has announced that Crowne Plaza hotels are opening in Paris and London this month. The 328-room Crowne Plaza Paris République, owned by Westbridge, is the fifth Crowne Plaza in France and the second in Paris. The other hotel of the chain in Paris is the Crowne ...
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PropertyEU Archive
'New' Orco to ditch secondary stock exchange listings
Troubled Central and Eastern European real estate group Orco said on Wednesday that its full-year net loss of EUR 390 mln in 2008 was largely due to a devaluation of its investment portfolio and impairments reflecting deteriorating economic conditions and the downturn in real estate markets.
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PropertyEU Archive
ECE takes over management of Moscow's Vremena Goda mall
German shopping centre operator ECE Projektmanagement has taken over the management of the Vremena Goda shopping centre in Moscow, Russia. The first-class shopping gallery is located on the busy Kutuzovskiy Prospekt boulevard and houses over 150 shops on approximately 30,000 m[sup]2[/sup] of leasable area.
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PropertyEU Archive
MGPA tipped to buy half of British Land's £2.5 bn Broadgate estate - report
British Land is in talks to sell half of its £2.5 bn (EUR2.8 bn) Broadgate office estate in the City of London to private equity investors, the Financial Times has reported. The company is locked in negotiations with Macquarie-backed Australian fund manager MGPA about a partial sale of the office ...
