All Real Assets articles in Web Issue – Page 386
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PropertyEU Archive
Waldeck's new luxury hotel in Prague set to open
Waldeck Capital has handed over the keys of the Augustine Hotel in Prague to operator Rocco Forte Collection, ahead of the opening of the luxury hotel on 14 May. Waldeck said the 101-room hotel, which it developed in Malá Strana, the historic lesser town of Prague, is touted as one ...
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PropertyEU Archive
Renault to sell EUR 1bn of property - report
French car manufacturer Renault is seeking to offload around EUR 1 bn of real estate assets, or one sixth of its property portfolio worldwide in a bid to raise fresh equity, French newspaper Le Monde has reported. The portfolio inlcudes 138 assets across Europe, of which 72 in France.
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PropertyEU Archive
Catalyst Capital sells for EUR 23m in Lyon
Phone Part Dieu, an investment vehicle managed by Catalyst Capital, has sold a 14,000 m[sup]2[/sup] complex in the Part-Dieu district of Lyon, France, to the Perial Group for over EUR 23 mln, French property magazine Business Immo has reported. The property is fully leased to France Télécom with a six-year ...
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PropertyEU Archive
Orion snaps up Madrid shopping mall for EUR 235 mln
Banif Immobiliare, the Santander-managed real estate fund that froze payouts in February, has sold its landmark property, the Plenilunio shopping centre in Madrid for a total of EUR 235 mln.
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PropertyEU Archive
Stenham buys London prime asset at 9.44%
Global property fund manager Stenham has completed the purchase of 52 Grosvenor Gardens, a 93,601 sq ft (10,000 m2) leasehold mixed-use property in Victoria, London.
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PropertyEU Archive
Multi and ING get EUR 72m financing for Dutch redevelopment project
Multi Vastgoed and ING Real Estate Development (RED) have ecured EUR 72 mln in funding from ING Real Estate Finance (REF) for the first phase of the redevelopment and expansion of the centre of Nieuwegein, a suburb of the Dutch city of Utrecht..
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PropertyEU Archive
Private equity firm to take advantage of cheap debt
Arminius, the private equity firm founded in 2006 by former Lone Star director Peter Jun, has bought EUR 148 mln of commercial real estate loans in Germany for its Real Estate Opportunity Fund I (AREOF I). The portfolio, which is secured by one industrial asset and a number of hotels, ...
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PropertyEU Archive
UK commercial property capital value decline slows: IPD
UK commercial property capital values fell by a further 8.7% in the first quarter of 2009. However, the pace of decline has slowed noticeably since the record 14.3% fall recorded in Q4 2008, according to the IPD UK Quarterly Property Index published this week. Income return also edged up to ...
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PropertyEU Archive
First IPD Polish property index reveals negative capital growth
Capital growth in Poland was -2.4% last year, compared to 7.2% in 2007, according to IPD's first ever commercial real estate index for the country. Income return held stable at 6.1%, contributing to an overall total return of 3.5% for the 12 months to end-December 2008, compared to 14.6% the ...
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PropertyEU Archive
Chamartín, ING to open the largest shopping centre in the Iberian Peninsula
Spain's Imobiliaria Chamartin and ING Development announced on Wednesday that their flagship development, the Dolce Vita Tejo shopping centre is set to open its doors on Thursday in the outskirts of Lisbon. The mall, which has created over 15,000 jobs, is the largest shopping centre in the Iberian Peninsula, Chamartin ...
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PropertyEU Archive
Rivero to resign from CEO post at Gecina
Spanish businessman Joaquin Rivero is stepping down as CEO of French real estate investment trust Gecina but will remain on as chairman. Rivero's resignation from the day-to-day management comes after Gecina's board decided not to implement a plan to demerge from Spanish property company Metrovacesa.
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PropertyEU Archive
Rental declines expected to gather pace: RICS
Tenant demand across all sectors continued to fall in the first quarter according to RICS' UK Commercial Property Survey published this week.
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PropertyEU Archive
Total return for CEE drops to 0.5% in 2008
All Property total return for the IPD CEE index was 0.5% for the 12 months ended in December 2008, compared with 14.2% the previous year. The top sector was retail with a total return of 2.5%, the worst-performing sector was industrial with -4.4%, while offices generated a return of 1.5%.
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PropertyEU Archive
IVG posts EUR 45m loss in Q1, yields at 'preliminary peak'
IVG Immobilien, the largest listed real estate group in Germany, struck an upbeat note on Thursday despite posting a EUR 44.8 mln after-tax loss for the first quarter of 2009. A year earlier, IVG recorded a profit of EUR 21.1 mln.
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PropertyEU Archive
CBRE Investors leases 11,500 m[sup]2[/sup] of Copernic II
CBRE Investors said that it has leased 11,500 m[sup]2[/sup] in its Copernic II building in Noisy-le-Grand (Marne-la-Vallée), France, to Pole Emploi with a nine-year rental contract. Designed by architects Scau - Macary Delamin and developed by Les Nouveaux Constructeurs, Copernic II will comprise two independent buildings offering a total of ...
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PropertyEU Archive
ING RE books pre-tax loss of EUR 192m in 2008
ING Real Estate booked a pre-tax loss of EUR 192 mln in 2008 due to substantial writedowns of its direct real estate investments and holdings in listed and unlisted funds. In 2007, ING RE booked a pre-tax profit of EUR 723 mln.
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PropertyEU Archive
Corpus Sireo fund buys two office buildings in Paris for EUR 40m
Corpus Sireo Investment Management, on behalf of its Sireo Immobilienfonds N.4 Sicav-Fis, has acquired two office properties in the eighth arrondissement of Paris for a combined EUR 40.35 mln. The buildings, totalling 4,500 m[sup]2[/sup] of space, are located at 37-39 rue d’Anjou in Paris and were sold by European Property ...
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PropertyEU Archive
Soffin acquires 47% of Hypo and eyes rest
The German government, through the bank rescue fund Soffin, holds 47.31% of the shares of Hypo Real Estate Holding following the expiration of the acceptance period for the EUR 1.39 per share offer tabled for the troubled property financier in mid-April.
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PropertyEU Archive
Accounting change could double debt loads for corporates - JLL
Jones Lang LaSalle Corporate Finance has estimated that the debt loads of a quarter of FTSE all share companies will more than double if what it describes as 'dramatic' proposed changes in lease accounting are implemented.
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PropertyEU Archive
Sacyr to build new Repsol HQ in Madrid
Spanish construction giant Sacyr Vallehermoso will invest EUR 127 mln in the development of the new headquarters in Madrid of Spanish oil group Repsol. The new head office will consist of four office buildings connected to each other and will provide a total of 123,000 m[sup]2[/sup] of space. Sacyr, which ...
