All Real Assets articles in Web Issue – Page 394
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PropertyEU Archive
Golden Tulip hotels in receivership
Dutch hotel chain Golden Tulip has filed for adminstration for 13 of its hotels in Amersfoort, Wageningen, Beekbergen and Delft, the company's management and administrators announced this week. The 57 hotels operated by franchise holders will be excluded from the bankruptcy proceedings.
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PropertyEU Archive
Hotel investors sit tight
Hotel investors are choosing to hold onto assets as they wait for better conditions to emerge and greater consensus about pricing, according to the latest Hotel Investor Sentiment Survey (HISS) from Jones Lang LaSalle Hotels. There are some exceptions, however, including Dublin, Lisbon and the Spanish resorts. These locations have ...
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PropertyEU Archive
Prologis leases in Netherlands and Poland
Prologis European Properties (PEPR), Europe's largest owner of modern warehouse distribution facilities, has announced that it has extended a 4,500 m[sup]2[/sup] lease in Sosnowiec in Poland with Delta Plus Group for an additional 16 months to August 2012 at the passing rent and finalised a new lease for another 3,800 ...
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PropertyEU Archive
Kungsleden divests property for SEK 30m
Listed Swedish property company Kungsleden AB is selling a commercial property in Karlstad, west of Stockholm, for SEK 30 mln (about EUR 2.8 mln). The sales price is consistent with acquisition cost. The divested property has gross leasable area of 2,515 m[sup]2[/sup] and the rental value amounts to SEK 2.8 ...
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PropertyEU Archive
King Sturge: correction spreading across Europe
The correction in the property market is spreading across Europe. That is one of the key conclusions of the latest European quarterly survey of key indicators for the European property markets from property adviser King Sturge.
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PropertyEU Archive
Office vacancy set to rise in Budapest after record level of new supply
Despite the dramatic deterioration in Hungary’s real economy, and its visible impact on the property market, take-up continued to rise in the first quarter of the year. Office lease extensions and pre-leases were prevalent among the contracts signed in the first quarter. While the level of completions was roughly on ...
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PropertyEU Archive
Prologis leases space near Heathrow Airport
Prologis, the world's leading provider of distribution facilities, has leased 7,000 m[sup]2[/sup] of recently completed distribution space near Heathrow International Airport in the UK to parcel delivery service City Link.
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PropertyEU Archive
DTZ appoints new COO/CFO to group board
Property adviser DTZ has appointed Bob Rickert, the group's chief operating officer (COO) and chief financial officer (CFO), to the management board. . On joining the board, Rickert will assume the title of group finance director while retaining his post as COO.
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PropertyEU Archive
Banimmo signs two new credit facilities
Brussels-based Banimmo has signed two new credit facilities for a total amount of EUR 64.9 mln, the company said in a press release. The two new credit facilities will complete an existing syndicated loan of EUR 210 mln aimed at helping the 'grasp acquisition opportunities'.
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PropertyEU Archive
IVG brings new EuroSelect fund to market
IVG Immobilien has launched a new closed-end real estate fund, EuroSelect 17 Office Center Amstelveen for the new headquarters of Dutch subsidiary of the auditors KPMG. The annual payout is expected to be 5.15% after taxes.
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PropertyEU Archive
Kanam buys office building in Paris
Kanam's Special grundinvest funds has acquired the Pulsar office building in the 8th arrondissement of Paris for almost EUR 18 mln. Dating from 1892, the 1,810 m[sup]2[/sup] building was refurbished in 2008 and has long-term leases with good-quality covenants, the German open-ended fund manager said in a press release.
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PropertyEU Archive
C&W launches global business consulting unit for EMEA
Property adviser Cushman & Wakefield has expanded its global business consulting service line by launching a new team in EMEA to complement its US and Asia units. The EMEA team is being led from London by the new head of global business consulting, Tim Carnegie, alongside senior consultant Alex Ash.
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PropertyEU Archive
New IPD index for US shows negative capital growth
The Investment Property Databank's first annual commercial real estate index and quarterly indicator for the US revealed capital growth came to -12.2% in 2008. For the year to end-December 2008, the US all property income return totalled 5.4%, contributing to an overall total return of -7.4%.
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PropertyEU Archive
CBRE upbeat on CEE
Property investment turnover in Central & Eastern Europe (CEE) was about 32% higher than the monthly average for the first quarter of 2009, according to CB Richard Ellis. Overall, however, the market remains slow and is relying on investment by German open-ended funds, according to CBRE's CEE Property Investment MarketView ...
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PropertyEU Archive
Jones Lang LaSalle delivers first UK Courtyard by Marriott
Jones Lang LaSalle's Project and Development Services (P&DS) team has delivered the first new generation Courtyard by Marriott Hotel to be constructed in the UK.
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PropertyEU Archive
Credit Suisse puts London property on market - report
Credit Suisse has instructed CB Richard Ellis to begin marketing one of the investment bank's two office properties in Canary Wharf, London, according to the Financial Times.
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PropertyEU Archive
Degi sells office tower in Seoul
Frankfurt-based Degi, part of Aberdeen Property Investors, has sold the Hyundai Swiss Tower in Seoul to a South Korean buyer for EUR 39 mln. The German company said the sales price exceeded the latest valuation despite the difficult market conditions.
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PropertyEU Archive
Hilton Hotels to expand in Turkey
Hilton Hotels Corporation has entered into a franchise license agreement with Turkish operator Durmazlar Makina Sanayi ve Ticaret to open two new hotel properties in Bursa, in the northwest of Turkey.
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PropertyEU Archive
Multi groundbreaks Marmara Forum
Multi Turkmall, the Turkish unit of Dutch developer Multi Corporation, this week held the groundbreaking ceremony for a new project in Marmara. The ceremony was
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PropertyEU Archive
UNStudio selected for new hotel tower in Frankfurt
Amsterdam-based UNStudio and Kohn, Pedersen, Fox of New York have been selected to design a 110-metre Grand Hyatt hotel in Frankfurt.
