All Real Assets articles in Web Issue – Page 393
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PropertyEU Archive
Prupim appoints new COO
Global real estate investment manager Prupim has announced the appointment of Malcolm Smith as chief operating officer. Smith was formerly managing director and COO at Barclays Global Investors in Europe. Prior to this he was head of Investment Management Consulting at PricewaterhouseCoopers and was previously a consultant at Mercer Human ...
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PropertyEU Archive
Bosnian firm seeks cash-rich real estate investors
Sarajevo-based Unipromet has said it is actively looking for cash-rich real estate companies or funds to invest in projects and completed buildings in Bosnia. While Unipromet is just one of a list of hundreds of companies who are showcasing their projects at the Real Vienna international property fair this week, ...
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PropertyEU Archive
SFL sells Paris office building to RREEF
French SIIC Societe Fonciere Lyonnaise (SFL) has sold an office building located on Paris' famous Boulevard Haussmann to a fund managed by RREEF Spezial Invest, part of RREEF Alternative Investments, for a price of EUR 27 mln excluding taxes. The scheme, located in the 8th district of the French capital, ...
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PropertyEU Archive
Henderson launches second central London office fund
European asset manager, Henderson Global Investors, has launched a seven-year closed ended fund designed to capitalise on the cyclical nature of the central London office market. The Henderson Central London Office Fund II (CLOF II) will be marketed to UK and overseas institutional investors and has a target annualised IRR ...
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PropertyEU Archive
SEB launches real estate fund of funds in Sweden
SEB has developed a real estate fund of funds for the Swedish market, becoming the first fund management company to receive authorisation to distribute the fund to the Swedish public.
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PropertyEU Archive
Aberdeen wins EUR 1.4bn asset management mandate
Aberdeen Property Investors has signed an agreement with Gamla SEB Trygg Liv, part of Swedish SEB bank, regarding the property asset management of their property portfolio in Sweden. Aberdeen won the mandate in a competitive tender.
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PropertyEU Archive
CA Immo to sell assets after posting loss in Q1
Vienna-based property company CA Immo saw its losses widen to EUR 35 mln in the first quarter of 2009, from EUR 30 mln a year before, as a result of worsening conditions in the CEE and SEE markets. The company's portfolio lost EUR 52 mln in the first quarter of ...
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PropertyEU Archive
Union Investment buys Zurich asset for EUR 104m
Hamburg-based investment management company Union Investment has acquired the West-Park office building in Zurich for EUR 104 mln. The property, which is earmarked for the group's open-ended real estate fund Unimmo: Global fund, provides a total of 27,000 m[sup]2[/sup] of space. The property, sold by West-Park Zurich, was developed in ...
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PropertyEU Archive
GPT sells 32 European assets for EUR 129m
The GPT Group has agreed to sell its interest in the H20 logistics portfolio to Rynda Capital Partners Europe, an independent real estate investment management business, for the value of the debt secured against the portfolio (AUD$231 mln or EUR129 mln).
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PropertyEU Archive
Pirelli RE sells 20% of NPL management unit to DGAD
Pirelli RE's board has approved the definitive terms of the agreement to sell 20% of Pirelli & C. Credit Servicing, the group's NPL management arm, to DGAD International, part of Calyon. The operation is part of the previously announced plans to reduce the financial commitment to the business of non-performing ...
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PropertyEU Archive
Land Securities sells London office for £39m
UK REIT Land Securities has completed the sale of 22 Kingsway, London to an overseas client of Jones Lang LaSalle for approximately £39 mln (EUR 45 mln). The transaction volume reflects a yield of approximately 7.55%.
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PropertyEU Archive
Henderson appoints new manager for UK Property Fund
Henderson Global Investors has appointed Cameron Fraser as fund manager of its £150 mln (EUR 170.8 mln) Henderson UK Property Fund. Cameron will report to Andrew Creighton and, over the next two months to ensure an orderly handover, will work closely with Ludo MacKenzie, the fund's current manager who is ...
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PropertyEU Archive
Epra to move to Brussels
The European Public Real Estate Association (EPRA), the industry body representing the listed property industry in Europe, is to move its office to Brussels from Amsterdam in early July.
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PropertyEU Archive
Rewe to expand in Russia
German supermarket group Rewe plans to add 20 stores to its Russian network this year after reporting a 35% growth in sales last year. The company, which currently employs a staff of about 2,800 across 58 Russian stores said that, despite the challenges due to the current economic situation, its ...
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PropertyEU Archive
Hammerson lets 19,000 m[sup]2[/sup] at London office
UK REIT Hammerson has signed agreements with office occupiers for its major development at 125 Old Broad Street, taking the London EC2 building to 69%-let by income. Over 200,000 sq ft (19,000 m2) of office and retail accommodation has now been let at the London scheme.
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PropertyEU Archive
NSI sells six properties for EUR 11m
Dutch real-estate firm Nieuwe Steen Investments has sold six retail and office properties for a total EUR 11 mln to unnamed buyers. The assets, which were sold to a number of investors, generate rental income of EUR 860,000 per annum. Nieuwe Steen has sold assets worth a total of EUR33 ...
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PropertyEU Archive
Max Property Group raises £220 mln
Max Property Group raised £220 mln (EUR 252 mln) on its first day of trading on London-based AIM, the international market for growing companies. Max’s investment strategy is to take advantage of the current cyclical weakness of the UK real estate market through acquisitions, active asset management and judicious use ...
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PropertyEU Archive
DTZ: Prague office market 28% overvalued
Affordability of rents in the Central and Eastern European cities of Warsaw, Prague and Budapest remains a concern, according to the Office Affordability Index published this week by adviser DTZ. Despite relatively moderate rental levels these locations are amongst Europe’s least affordable cities in terms of office space. Slowing economic ...
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PropertyEU Archive
MGPA secures further lease agreement for Munich City Tower
Private equity group MGPA has let 2,500 m[sup]2[/sup] of Munich City Tower Campus Building to Go Yellow Media Group. The majority of Go Yellow Media Group's employees will relocate to the Campus building in August 2009. In addition the company will remain as a tenant in two floors of the ...
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PropertyEU Archive
NPRO's Petter Jansen steps down
Norwegian Property's CEO Petter Jansen has informed the Board of Directors that he plans to resign from his position. Jansen has led the company since the summer of 2006. He has agreed to stay in the position until a new leader is in place.
