All Real Assets articles in Web Issue – Page 378
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PropertyEU Archive
Pinnacle awarded 123,000 m[sup]2[/sup] management contract in Spain
Arcapita Bank's logistics asset management unit Pinnacle announced on Tuesday that it has been awarded a new management contract for 123,000 m[sup]2[/sup] of logistics space in Spain. The company will manage seven distribution facilities in the cities of Madrid, Barcelona and Zaragoza. The agreement increases Pinnacle's assets under management in ...
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PropertyEU Archive
Rental values fall by up to 10% in Ile-de-France, says DTZ
While prime rents are still holding up, rental values for secondary office properties in the Ile-de-France region of France have fallen by up to 10% over the past 12 months, a new research report issued by property services firm DTZ shows. Jean-Luc Chalard, managing director and responsible for marketing and ...
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PropertyEU Archive
C&W expects shopping centre development to see slowest rate in 2010
Up to seven million m[sup]2[/sup] of planned shopping centre development in Europe has been put on hold or cancelled as a result of the credit crunch, a new research report issued by C&W shows. In its new European Shopping Centre Development report the broker said that it expects around 10 ...
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PropertyEU Archive
Santander hires CBRE to liquidate EUR 3bn in Banif assets
Spanish bank Santander has hired CB Richard Ellis to manage the sale process of EUR 3 bn in property assets representing around 90% of the portfolio owned by its Banif property fund, Spanish newspaper Expansion reported, citing a letter sent by Santander to the fund's shareholders. In February the bank ...
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PropertyEU Archive
Soffin extends Hypo's existing EUR 52bn in guarantees
The German Financial Markets Stabilisation Fund (Soffin) has extended the overall EUR 52 bn framework guarantee granted to Hypo Real Estate Group until 19 August 2009. The extension of the guarantee term was necessary due to the impending expiration of EUR 30 bn in existing guarantees on 15 April 2009, ...
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PropertyEU Archive
Sistema-Hals raises EUR 67m in bond issue to pay down debt
Russian real estate developer Sistema-Hals announced on Tuesday that it has fully placed three million bond securities with par value of 1,000 roubles (EUR 22.57) each. The bonds mature in 2014, the company said. The placement was lead-managed by Zao Raiffeisenbank and the proceeds, a total of EUR 67 mln, ...
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PropertyEU Archive
Unibail Rodamco to open new Docks 76 mall in Rouen
Franco-Dutch property group Unibail Rodamco is to open a new shopping and leisure centre in the French city of Rouen later this month. The Docks 76 shopping mall is at the heart of an urban renewal project on Rouen's westside with the former docklands along the Seine river having been ...
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PropertyEU Archive
CBRE Investors launches Affori project in Milan
Global real estate investment management firm CB Richard Ellis Investors has announced the opening of Affori Centre, a new eco-friendly office complex in Milan, in September 2009. The project, managed by CBRE Investors on behalf of the Strategic Partners Europe II Fund, commenced in 2008 and will comprise 12,000 m[sup]2[/sup] ...
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PropertyEU Archive
Apsys, Fonciere Euris sell Fleur d'Eau shopping centre
Fonciere Euris and Apsys have sold their award-winning Fleur d'Eau shopping centre in the French city of Angers for EUR 37 mln. The property was sold to Fonciere Investissement, a subsidiary of Credit Mutuel Arkea. The centre, a 50/50 joint venture of Apsys and Euris, was opened in May 2005 ...
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PropertyEU Archive
Pirelli RE plays down talk of asset sales to Generali
Italy's Pirelli Real Estate denied media rumours on Tuesday that the Milan-based property giant plans to demerge its real estate funds and sell them in a major restructuring of its activities. The company was responding to an article in Italian newspaper La Repubblica which reported that the company was mulling ...
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PropertyEU Archive
PEPR leases over 60,000 m[sup]2[/sup] in the Netherlands
Prologis European Properties announced on Wednesday that it has renewed a 19,435 m[sup]2[/sup] lease agreement at Schiphol, Amsterdam, with DHL Global Forwarding and completed four lease agreements in the Rotterdam area covering almost 42,000 m[sup]2[/sup]. As a result of these transactions, occupancy of the PEPR portfolio in the Netherlands has ...
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PropertyEU Archive
Investment in London commercial property falls 76% in Q1
The value of central London commercial real estate transactions in the first quarter of 2009 fell by 76% compared to Q1 2008 and by 83% compared to Q1 2007 when the market was at its peak, according to C&W's latest research report issued this week.
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PropertyEU Archive
Blackstone raises EUR 3.1 bn for third European fund
New York-based private equity firm Blackstone has raised EUR 3.1 bn to date for its third European real estate investment vehicle and plans to close the vehicle in the spring, periodical PERE reported. The Blackstone Real Estate Partners Europe III fund saw EUR 3.1 bn in commitments from a total ...
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PropertyEU Archive
European property investment down 44% in Q1
The European commercial real estate investment market continues to fall sharply, according to a new report by CB Richard Ellis. Turnover in the first three months of 2009 totalled just EUR 11.5 bn, compared to EUR 20.6 bn in the final quarter of 2008.
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PropertyEU Archive
Private equity real estate fundraising down to 2004 level
Seven private equity real estate (PERE) funds focused on Europe raisied a total of $3 bn (EUR 2.3 bn) on their final closing in the first quarter of 2009. Consultancy Preqin said another 13 PERE funds closed in the US having raised $9.7 bn in the first three months of ...
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PropertyEU Archive
FHH fund buys Frankfurt hotel for EUR 27m
Fondhaus Hamburg (FHH) has acquired a Park Inn hotel project in the Gateway Gardens district of Frankfurt for EUR 27.5 mln. The property was bought from developer Lang & Cie. Real Estate. The hotel is let under a 20-year management contract to international hotel operator Rezidor Group. It will provide ...
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PropertyEU Archive
Realia close to refinancing EUR 754m of debt
Spanish property company Realia said in a stock exchange announcement late on Tuesday that it expects to soon reach an agreement with its creditor banks for the refinancing of a EUR 754.5 mln pile of debt maturing at the end of 2009. In its 2008 results, the Madrid-based property developer ...
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PropertyEU Archive
Dolphin buys out Aristo for EUR 93m
AIM-listed South-Eastern European developer and investor Dolphin Capital Investors is acquiring the remaining 15% interest it did not own in Aristo Developers for a total of EUR 93 mln including a cash payment of EUR 50 mln. Aristo is the largest private land owner and the leading residential developer in ...
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PropertyEU Archive
Horizon signs tenant for Vitalys office building in Paris
Horizon Investment Management France has advised its fund, Horizon French Property Partnership, on the leasing of the Vitalys building located in the ZAC de la Porte de Lilas, in the 19th arrondissement of Paris.
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PropertyEU Archive
Fazer moves into Lindhagen office and shopping centre
Fazer has signed a leasing agreement for 3,000 m[sup]2[/sup] of office space in the new Lindhagen office and retail centre (Paradiset 29 property) in western Kungsholmen, Sweden. The agreement is for a seven-year period and Fazer will move in to its new premises in November 2009.
