All Real Assets articles in Web Issue – Page 390
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PropertyEU Archive
AREA and Aviva invest £65m in The Junction
Apollo European Real Estate Fund III, managed by pan-European fund management group AREA Property Partners (AREA), has acquired a 40% stake in The Junction Fund for approximately £50 mln (EUR 56.7 mln).
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PropertyEU Archive
KLP Fastigheter acquires five-star Radisson SAS in Stockholm
Norway's KLP Fastigheter has acquired Pennfäktaren 12 from RBS Nordisk Renting in Stockholm. The property, which includes the five-star Radisson SAS Royal Viking Hotel. The 26,400 m[sup]2[/sup] Radisson SAS Royal Viking Hotel features 459 rooms, conference facilities, fitness centre, pool, spa, fish and seafood restaurant as well as the popular ...
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PropertyEU Archive
CBRE advises on largest industrial deal this year
CB Richard Ellis has said it acted as adviser to Curzon Capital Partners II fund on the acquisition of a portfolio of seven distribution warehouses in the Netherlands and Germany. The deal, which generated gross proceeds of EUR 119.5 mln, was the largest pan-European industrial portfolio transaction this year. CCPII ...
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PropertyEU Archive
Hypo Real Estate appoints new CFO
Troubled German property financier Hypo Real Estate Holding has appointed Alexander Freiherr von Uslar-Gleichen as its new chief financial officer (CFO) and member of the Management Board with effect from 1 October 2009.
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PropertyEU Archive
Sistema-Hals buys Lubyanka Development
Russian developer Sistema-Hals Group has acquired full ownership of a major development project in Moscow from AFK Sistema.
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PropertyEU Archive
Europa Capital secures funds for mall project in Slovakia
Europa Capital, the general partner of Europa Fund II, and developer ConvergenCE have announced that their joint venture for the development of Solivaria shopping centre located in Presov, Slovakia has agreed a EUR 38.8 mln loan facility with UniCredit Bank's Slovak subsidiary in Bratislava.
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PropertyEU Archive
Carlyle completes sale of London development
Global private equity company Carlyle Group has sold its 107 Cheapside development in the City of London after a protracted legal battle with Irish buyer Menolly Investments, the company announced in a press release on Monday.
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PropertyEU Archive
Nycomed Pharma signs new lease for Duna Tower
Pharmaceuticals company Nycomed Pharma has signed a five-year lease agreement for 533 m[sup]2[/sup] office space on the 14th floor in the Duna Tower in Budapest owned by Real4You Immobilien. The new tenant will move into the office building in October 2009.
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PropertyEU Archive
UK commercial property rental values hit 16-year low: IPD
British commercial property rental values have been trending downwards for 14 consecutive months on a rolling three-month basis, according to April’s IPD UK Monthly Index, ending April 2009 at -3.21%. This is the lowest rental value equivalent figure since December 1992.
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PropertyEU Archive
European banks' office take-up down by 80% in first three months of 2009
The global economic crisis has pushed banks' take-up of office space in the first quarter of 2009 down by 80% against the long term quarterly average with the London, Moscow and Warsaw markets most affected.
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PropertyEU Archive
Sonae Sierra's German mall 95% let
Portuguese shopping centre developer Sonae Sierra announced on Tuesday that 95% of the gross lettable area of its new German development - the LOOP5 shopping and leisure centre in Weiterstadt - is already let. The mall is scheduled to open on October 9, 2009.
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PropertyEU Archive
Brandeaux re-opens student accommodation fund, launches two more
Brandeaux has announced the re-opening of its Dublin-listed Student Accommodation Fund. The manager of specialist collective investment schemes said the fund had received subscriptions of more than £15 mln (EUR 17 mln) in the first seven weeks since the introduction of a new share class with longer redemption terms.
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PropertyEU Archive
Europa Fund II announces further lettings at Hofgarten Palais, Düsseldorf
Europa Capital LLP, the general partner of Europa Fund II, has announced the letting of 1,891m[sup]2[/sup] to Gleiss Lutz Rechtsanwalte at Hofgarten Palais, the 13,150 m[sup]2[/sup] office development at Bleichstrasse/Goltsteinstrasse, Düsseldorf owned through its Luxembourg subsidiaries. The building is nearing completion and is already 57% leased.
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PropertyEU Archive
Plaza Centers seeks opportunities beyond traditional borders
Retail specialist Plaza Centres is is looking beyond its traditional development business model and markets by seeking to acquire high-yielding mature assets in new regions, such as the US, the company said on Tuesday in an interim statement. Commenting on the plans, Ran Shtarkman, President and CEO of Plaza Centers, ...
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PropertyEU Archive
Buddy Roes joins Shroders in Germany
Schroders property business in Germany has announced the appointment of Buddy Roes as Head of Logistics Fund Management from 1 June. Roes takes over from Robbert Bergmann as fund manager for the Schroder European Logistics Fund and ill be based in the company’s Wiesbaden office.
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PropertyEU Archive
CEE hit hardest by falling capital values
Central and Eastern Europe was the worst performing emerging market region in the first quarter of 2009, with the pace of decline in capital values continuing to accelerate, according to the RICS Global Property Survey. All respondents in Ukraine, Russia, Poland and Croatia reported a fall rather than a rise ...
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PropertyEU Archive
Delancey and Shearer complete Iona office development in London
UK real estate investment manager Delancey and developer Shearer Property Group have announced the completion of their Iona office scheme located at Argyll Street in London. Iona forms part of the partners' redevelopment of the former Dickins and Jones store on Regent Street.
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PropertyEU Archive
RICS sees pace of construction decline slowing
The Royal Insitute of Chartered Surveyors (RICS) believes there are tentative reasons to expect the pace of decline in output in the European construction sector may begin to slow. But in the near term the outlook remains bleak with output likely to fall further as the wider economic downturn in ...
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PropertyEU Archive
DTZ sees UK market stabilising
Property adviser DTZ sees tentative signs of a stabilisation in Europe’s commercial real estate investment market led by the UK. Transaction volumes in the UK remained flat in Q1 2009 at EUR 3.5bn compared to Q4 2008 while prime yields in some UK markets such as Central London stabilised over ...
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PropertyEU Archive
Goodman delivers 50,000 m[sup]2[/sup] to CEE market
Australian logistics group Goodman has announced the completion of two developments in Central and Eastern Europe whilst a third scheme has been topped out. The three projects bring more than 50,000 m[sup]2[/sup] of warehouse and office space to market.
