All Real Assets articles in Web Issue – Page 39
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PropertyEU Archive
British Land buys Birmingham prime office building
British Land has acquired a EUR 38 mln building in the British city of Birmingham. Previously occupied by the lender NatWest, the building is located in the prime city office site, in the heart of Birmingham. The UK group has appointed the architects Hamiltons to design a new 'high quality ...
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PropertyEU Archive
Erik Paulsson may buy state-owned Vasakronan
Former Fabege's ceo Erik Paulsson is interested in buying the Swedish state-owned real estate company Vasakronan, newspaper Svenska Dagbladet reported, citing Paulsson.
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PropertyEU Archive
C&W opens new office in Romania
International property advisor Cushman & Wakefield has opened an office in Romania as part of its strategy to become more active in central and eastern Europe. Romania is the largest market in the region after Poland.
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PropertyEU Archive
Amsterdam scraps 800,000 m[sup]2[/sup] of planned office space
The local authority in the Dutch capital has already scrapped 800,000 m[sup]2[/sup] of planned office space, alderman Maarten van Poelgeest revealed during the one-day PropertyNL Forum in Amsterdam last Thursday. Poelgeest, a leading member of green left GroenLinks party, announced shortly after taking charge of the planning department last year ...
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PropertyEU Archive
Canary Wharf gets go ahead for 370,000 m[sup]2[/sup] development
The London Borough of Tower Hamlets has granted planning permission to Norquill for the development of 372,660 m[sup]2[/sup] of commercial office space on the North Quay site that is immediately north of One Canada Square, Canary Wharf. Norquill is the freeholder of the site and is wholly owned by the ...
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PropertyEU Archive
Scarborough buys German portfolio for EUR 330 mln
Scarborough International Partners (SCP), a joint venture between the Scarborough Group and the Bank of Scotland, has acquired a mixed-use portfolio in Germany from a group of investors lead by the property investment and management company Beos GmbH. The transaction value comes to EUR 330 mln.
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PropertyEU Archive
IMW to acquire EUR 365 mln property portfolios
Berlin-based property company IMW Immobilien has signed a letter of intent for the acquisition of several property portfolios valued at EUR 365 mln from the Curacao-based Hofer 2 Corporation and its Amsterdam subsidiary Valbonne Real Estate. The portfolios consist of more than 7,200 residential and commercial units, with a total ...
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PropertyEU Archive
AAM picks up logistics centres for EUR 40 mln
Aaeral Asset Management (AAM) has acquired two logistics centres on behalf of its Aareal EuroLogistics Fund for EUR 40 mln. The properties cover respectively 12,500m[sup]2[/sup] and 41,000m[sup]2[/sup] and are located in Born, southern Netherlands. The centres let on long-lease leases to office-product maker Acco Brands Corporation, high-performance material supplier Saint ...
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PropertyEU Archive
NSI may form alliance with Habas
Dutch-based Nieuwe Steen Investments (NSI) may form a strategic cooperation with the Tel Aviv-listed Habas HZ Investments aimed at expansion of its real estate portfolio. NSI said in a press release that the investment company is willing to acquire a 20% of NSI' outstanding shares at a price of EUR ...
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PropertyEU Archive
ULI issues call to arms over 'silver economy'
City planners and developers must adapt their plans to take account of the aging of the population in Europe, William Kistler, president of the Urban Land Institute Europe, said during the one-day PropertyNL Forum in Amsterdam on Thursday.
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PropertyEU Archive
Pirelli RE to launch HVB bid
Carlo A. Puri Negri, managing director of Pirelli Real Estate, has confirmed rumours that the company intends to launch an offer for two property funds currently owned by Unicredito Italiano's German unit HypoVereinsbank (HVB). 'Pirelli RE will launch its offer for these property funds at the end of February or ...
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PropertyEU Archive
Immoeast completes biggest investment in Czech Republic
Immofinanz's subsidiary Immoeast has acquired an office portfolio in Prague for EUR 160 mln. The portfolio includes three properties in the BB Centrum office park providing a total lettable space of 73,700 m[sup]2[/sup]. BB Centrum is considered one of the most important office locations in the capital of the Czech ...
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PropertyEU Archive
Brookfield and Dawnay, Day join forces in Europe
Brookfield Asset Management and the Dawnay, Day have announced a joint venture to acquire and manage office properties in continental Europe. The new venture has completed its first acquisition by buying a pre-let office development in the German city of Dusseldorf for EUR 30 mln, Brookfield said in a press ...
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PropertyEU Archive
Gecina to develop logistics park near Paris
SIIC-listed Gecina has reached agreement on the purchase of a 26-hectare plot of land from the development company IMC Promotion in the north of the greater Paris region. The site will house a 90,000m[sup]2[/sup] logistic park developed by CIBEX, Gecina said in a press release. The financial details of the ...
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PropertyEU Archive
SLI makes first investment in Poland
Standard Life Investments (SLI), a leading property fund manager in Europe, has announced the completion of its first direct investment in the Polish property market through a joint venture with Panattoni Development Company (PDC).
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PropertyEU Archive
Meinl to raise EUR 1.5 bn in share issue
Austrian development company Meinl EL has announced it will raise about EUR 1.5 bn through the issue of 75 million new shares at a price of EUR 19.7 each. The offer period will start on January 22 and will end on February 9, 2007. The proceeds are expected to be ...
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PropertyEU Archive
ORN Capital launches 1st property derivatives hedge fund
Hedge fund manager ORN Capital has launched the first property derivatives hedge fund, capitalising on the growth in this emerging market. The ORN Property Derivatives Fund will focus initially on the UK where the property derivatives market is more developed. The fund has been seeded internally with ORN proprietary capital ...
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PropertyEU Archive
Vancouver mall sells for EUR 137 mln
A private investor has acquired the Vancouver shopping centre in Kings Lynn, southern England for EUR 137 mln. The price reflects a net initial yield of 4.7%. The scheme, recently completed, comprises 27, 870 m[sup]2[/sup] of retail space with a further 6,967 m[sup]2[/sup] scheduled for development. The mall is anchored ...
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PropertyEU Archive
US real estate fiancier seeks 15% share in Germany
US bank Wachovia is to proceed with a major expansion of its real estate financing business in Germany. 'Our plan is to become one of the market leaders in real estate financing in Germany within five years', Peter Riemenschneider, Germany director of Wachovia unit Real Estate Capital Markets, has told ...
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PropertyEU Archive
Riofisa backs EUR 2 bn takeover by Inmocaral
Riofisa is backing a EUR 2 bn takeover offer made by peer Inmocaral. At EUR 44.31 per share, the offer is 4.2% lower than Riofisa's closing price last Friday. The deal is expected to create the largest property company in Spain which, with a market value of EUR 14.846 ...
