All Real Assets articles in Web Issue – Page 392
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PropertyEU Archive
Student accommodation proves counter-cyclical - Savills
Rental growth and high occupancy rates continue to attract investors to the student accommodation sector in the UK, though the limited availability of appropriate investment vehicles risks frustrating attempts by individual investors to benefit from the sector, according to a new report from Savills Research.
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PropertyEU Archive
DTZ appointed to manage strip mall in Tököl
Real estate adviser DTZ has has been selected for the property management of the new strip mall located near Airport Center in Tököl, Hungary. The strip mall opened last week with 23,500 m[sup]2[/sup] of lettable retail area and comprises a hypermarket, a drugstore, an electric store, a bank and some ...
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PropertyEU Archive
Segro makes takeover approach to Brixton
UK industrial property REIT Segro has confirmed that it has approached its struggling peer, Brixton, about a potential takeover bid. In a statement on Friday, Segro said it envisaged that any offer would be in Segro shares but it said it reserves the right to vary the form of consideration. ...
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PropertyEU Archive
Bengt Kjell leaves Kungsleden's board
Brengt Kjell, chairman of the board of listed Swedish property company Kungsleden is stepping down with immediate effect, the company announced last week. Kjell will leave the company to take on other commitments in the property sector.
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PropertyEU Archive
UK sees first property IPO this year
Max Property Group saw its share price rise 30% to 130 pence on its first day of trading on Thursday on the London Stock Exchange. The flotation of the real estate investment company, headed by British entrepreneur Nick Leslau, is the UK's first initial public offering of the year and ...
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PropertyEU Archive
Atrium sees losses widen in Q1
Atrium European Real Estate reported a pre-tax loss of EUR 260 mln in the first quarter of 2009, resulting in an after-tax loss per share of EUR 1.036. The losses reflected a downward adjustment to the value of the development and land portfolio by EUR 110 mln to EUR 701 ...
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PropertyEU Archive
UK office market sees take-up fall between 15-50%
Leasing levels in the UK office market fell sharply again in Q1 2009 as the credit crunch continued to impact on occupational demand, according to Digby Flower, head of Central London Agency at CBRE.
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PropertyEU Archive
Sponda to launch EUR 200m rights issue
Finnish property company Sponda said on Monday that its board of directors has approved the launch of a rights issue to raise up to EUR 208 mln. The company will issue a maximum of 166 million new shares at a price of EUR 1.25 per share. Sponda's existing shareholders will ...
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PropertyEU Archive
BNL fund to sell 5 assets
BNP Paribas REIM's Portfolio Immobiliare Crescita fund in liquidation has approved the sale of five properties in northern Italy. The company is selling two office buildings in Miland and three commercial galleries in Civitanova Marche, Prato Calenzano and Trevi respectively.
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PropertyEU Archive
Mikeva sells 7 nursing homes in Finland
Mikeva has sold seven residential care properties to Ilmarinen Mutual Pension Insurance Company in a sale-and-leaseback transaction for an undisclosed amount. The care homes are located in Kaskinen, Kotka, Vaasa, Teuva, Oulu and Haukipudas.
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PropertyEU Archive
ULI trends conference sees more pain ahead
While politicians and commentators have been heralding 'green shoots' of recovery in recent weeks, the expert consensus at the ULI trends conference organised by ULI Europe in London last week was that most banks remain 'in paralysis' and that further corporate pain, decreasing values and downward pressures on rents ...
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PropertyEU Archive
Redevco to develop office building in Glasgow
Dutch property company Redevco has submitted development plans for a new landmark building at George Square, in the heart of Glasgow, Scotland. The Amsterdam-based company has put forward plans to Glasgow City Council which propose redevelopment of George House, a 1970's office block located on the northern corner of George ...
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PropertyEU Archive
Sun Microsystems move to Millennium City Center
Global IT company Sun Microsystems is moving from Buda Business Center in Budapest to TriGránit's Millennium Tower II. The tenant was represented by Jones Lang LaSalle, while Cushman & Wakefield represented the landlord in the office leasing transaction.
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PropertyEU Archive
Prologis signs leases in northern Germany
International logistics property operator Prologis has signed two new lease agreements for more than 11,850 m[sup]2[/sup] of recently developed space at distribution parks in northern Germany.
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PropertyEU Archive
Karstadt and Metro in merger talks
German retail concern Arcandor has held talks on a possible merger between its Karstadt department store chain and Metro subsidiary Galeria Kaufhof. An initial exploratory talk between Arcandor's CEO Karl-Gerhard Eick and Eckhard Cordes, the CEO of the Metro Group, took place last Thursday.
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PropertyEU Archive
Pinnacle leases 1,500 m[sup]2[/sup] in PointPark
Arcapita's logistics property arm Pinnacle has announced the leasing of 1,500 m[sup]2[/sup] of logistics space in its PointPark Mszczonow centre to Jeronimo Martins Distribution. JMD is the owner of Poland's largest retail store chain and is part of the Portuguese Jeronimo Martins Group.
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PropertyEU Archive
Colonial's operating results up 12% in Q1
Spanish property company Colonial said its operating profit increased by 12% to EUR 65.5 mln in the first quarter of 2009 compared with the year-earlier period partly due to the sale of a number of assets and land. The company posted a net profit of EUR 1.4 mln in the ...
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PropertyEU Archive
Sacyr Vallehermoso offers residential units at 35% discount
Spanish property developer Sacyr Vallehermoso said this week it is offering residential units in a number of Madrid developments at a discount of up to 35% on their estimated value. The offers will be made available during SIMA, the real estate fair which will take place in Madrid from Wednesday ...
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PropertyEU Archive
Cap&Reg's X-Leisure fund to raise £50m in discounted offer
Capital & Regional, the co-investing property asset manager, has announced that its 19.4%-controlled X-Leisure Unit Trust is planning to raise around £50 mln (EUR 57 mln) through a heavily discounted offer to existing unit holders. The new units are being offered at a price of 10p, representing a discount of ...
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PropertyEU Archive
Liberty International adjusts bond conversion price
Liberty International has lowered the conversion price of its convertible bonds due 2010 from £8 (EUR 9.07) to £7.16 per ordinary share. The new conversion price is effective from 28 May.
