All Real Assets articles in Web Issue – Page 380
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PropertyEU Archive
Angus Dodd joins Lone Star Europe
Angus Dodd has joined Lone Star Management Europe as managing director responsible for identifying UK real estate investments for Lone Star funds. He was previously at JER Partners for five years, where he was managing director responsible for acquisitions in the UK and Germany.
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PropertyEU Archive
CBRE closes sale of Pacifica International
CB Richard Ellis has completed the sale of the remaining units of logistics park Pacífica International, located within one of the last major industrial areas of Madrid, Spain. In 2003, CBRE was chosen as co-exclusive agent by Pacífica Capital Gestión to market over 400, 000 m[sup]2[/sup] of space at the ...
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PropertyEU Archive
UK commercial property rental decline deepens, says IPD
Capital depreciation in UK commercial property ended the first quarter at a pace consistent with declines seen in the first two months of 2009, at -3.1% in March, according to the IPD UK Monthly Index. The compounded capital movement over the first quarter was thus -8.9%, according to the Index, ...
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PropertyEU Archive
AXA fund enters Sweden with EUR 40m retail buy
AXA Investment Managers Deutschland’s Immosolutions fund has made its first investment in the Nordics with the acquisition of a retail property in Sweden for EUR 40 mln. The fund has bought four fully-let units in the Bilen retail park in the southern city of Kalmar.
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PropertyEU Archive
Helaba provides EUR 90m funding to Boultbee in Sweden
German lender Helaba said on Monday that it has arranged funding of EUR 90 mln for UK-based group Boultbee for refinancing of its Punkt and Gallerien commercial properties in Västeras, as well as its St Per building in Uppsala. The properties are predominantly for retail use and provide total space ...
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PropertyEU Archive
Capital & Regional announces equity raising
Capital & Regional, the co-investing property asset manager, has announced it is seeking to raise around £65 mln (EUR 73 mln) in new equity for its Junction fund. Under the terms of the transaction AREA Property Partners, formerly Apollo Real Estate, is proposing to provide the bulk of the funds ...
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PropertyEU Archive
Worboys appointed as CEO of Pinnacle
Pinnacle has announced the appointment of Ian Worboys as CEO. The operator and developer of distribution facilities in Europe had earlier strengthened its management team with James Riddell joining from Hines UK to take up the position of chief financial officer.
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PropertyEU Archive
Valad signs pre-lease at new business park in Luxembourg
Australia's Valad Property Group and Antwerp-based Valeres Project Developments have announced that telecommunications multinational Mach has taken a lease of the first building at the new Campus Contern business park project in Luxembourg. The co-developers described the letting of 2,900 m[sup]2[/sup] as ' a coup' as the building is ...
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PropertyEU Archive
Italian capital values fell steeper than first indicated: IPD
Commercial property capital growth in Italy totalled -3.3% in 2008, according to the IPD Italy Annual Property Index. This implies a steeper value correction than the Bi-Annual Indicator revealed earlier this month. According to the index, income returns were steady in 2008, at 5.4%, contributing to a 2.0% annual total ...
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PropertyEU Archive
Pirelli RE unveils heavily discounted capital increase
Italy's Pirelli Real Estate will offer its shareholders the largest discount possible in the EUR 400 mln capital increase planned for June, an Italian newspaper has said, citing chairman Marco Tronchetti Provera. The company will issue up to 800 million shares 50 cents per share. Pirelli & Co, which controls ...
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PropertyEU Archive
International retailers continue to open in Turkey, says Savills
Decreasing income and economic uncertainty are anticipated to keep visitor numbers and turnover rents below expectations for many Turkish shopping centres but the modernisation of the market continues to attract international retailers to Turkey, according to international property advisor Savills. Further to the arrival of key fashion brands such as ...
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PropertyEU Archive
ING REIM sells De Wieën mall in Netherlands
ING Real Estate Investment Management (REIM) has sold De Wieën shopping centre in the Dutch border town of Venlo to a private investor for EUR 15 mln. The shopping centre, comprising around 6,400 m[sup]2[/sup] of gross lettable area, generates an annual rental stream of more than EUR 1 mln and ...
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PropertyEU Archive
Real estate stocks lead direct market by six months
Real estate stocks generally lead moves in the underlying direct property market by an average of six months, according to the latest research published by the European Public Real Estate Association (EPRA) in association with US investment firm Cohen & Steers.
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PropertyEU Archive
Rental prices down in Frankfurt office market
Some 135,500 m[sup]2[/sup] of office space was let in Frankfurt in the first quarter of 2009, compared to 98,000 m[sup]2[/sup] in the same period last year, according to property adviser NAI Apollo. But the 38% increase in comparative letting activity was largely due to two major transactions, the Deutsche Bahn ...
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PropertyEU Archive
Direct property outperforms pool funds in Q1, says IPD
Total returns for all UK pooled funds in the first quarter came to -11.1%, according to the IPD. The result was less severe than the previous quarter's -18.7% return, but a much steeper quarterly loss than the same period last year, which turned in a return of -4.9%.
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PropertyEU Archive
Pirelli RE posts EUR 15m loss in Q1
Pirelli RE remained in the red in the first quarter of 2009 but the loss narrowed compared with the last quarter of 2008, the company said on Tuesday. 'Again in the first quarter of 2009, the real estate industry felt the effects of the serious international crisis that began in ...
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PropertyEU Archive
Unibail Rodamco's turnover up 3.4% in Q1
Franco-Dutch property company Unibail Rodamco saw its first-quarter turnover increase by 3.4% year-on-year to EUR 417 mln. Turnover was boosted in particular by the high performance in the retail sector where revenues increased to EUR 259 mln in the first three months from EUR 248 mln in the same period ...
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PropertyEU Archive
Immac buys portfolio in Austria for EUR 64m
German investor Immac has acquired a portfolio of five nursing facilities in Austria for a total of EUR 64 mln. The properties with a total of 584 beds are located in Steiermark, in the vicinity of Vienna.
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PropertyEU Archive
Atrium announces new appointments
Atrium European Real Estate has announced the appointments of Ewoud van Gellicum as General Counsel, and Ljudmila Popova as the company's Financial Analyst.
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PropertyEU Archive
Sedes buys office in Istanbul's CBD
Yapi Kredi Koray REIT, advised by Savills and DTZ, has sold the freehold interest in Yapi Kredi Plaza office property in Istanbul's Central Business District Levent to Turkish group Sedes Holding for EUR 12 mln. The deal reflects a net initial yield of 7.75%.
