All Real Assets articles in Web Issue – Page 395
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PropertyEU Archive
MGPA renewes Sony lease
MGPA, the private equity real estate investment adviser, has announced the renewal of a lease contract with global electronics company Sony Benelux for its Amsterdam-based Skyline Plaza Building. Sony intends to use the building as its flagship HQ for the Benelux region with new products on display to the ...
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PropertyEU Archive
Vivacon to sell assets due to 'acute liquidity crisis'
Vivacon, the German listed residential real estate investor, plans to sell property assets and investments in response to an 'acute liquidity crisis'. Vivacon blamed the ongoing capital market crisis and the market environment for its difficulties.
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PropertyEU Archive
FdR announces EUR 187m capital increase
French property company Fonciere des Regions has announced a capital increase of EUR 187 mln after 87% of shareholders opted for payment of the dividend in shares. All the shareholders represented on FdR's supervisory board opted for 100% of their dividend to be paid in shares.
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PropertyEU Archive
Renta completes EUR380m asset sale to banks
Spain's Renta Corporacion Real Estate has successfully completed the sale of EUR 380 mln worth of assets to a consortium of 17 financial institutions. As part of the agreement, the company has also refinanced a EUR 500 mln debt facility agreed with the creditor banks in February 2007.
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PropertyEU Archive
Risanamento unveils new plan to keep business afloat
Italian listed property company Risanamento has unveiled a new strategic plan to improve its cash resources and to guarantee that the group's financial needs will be met. The plan, which is currently being analysed by its creditor banks, envisages the transfer of its flagship Falck project in Milan's Sesto San ...
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PropertyEU Archive
SITQ leases 11,000 m[sup]2[/sup] in La Defense's B Building
French oil group GDF Suez has leased an additional 11,000 m[sup]2[/sup] of space within the B Building in Paris' La Defense business district. The rest of the building, which is owned by the property arm of Canadian savings bank Caisse de dépôt et placement du Québec, SITQ, is also occupied ...
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PropertyEU Archive
CEE activity in April beats Q1 monthly average
Property investment turnover in Central & Eastern Europe (CEE) totaled approximately EUR 100 mln in April through a total of five transactions, according to CB Richard Ellis' CEE Property Investment MarketView for April 2009.
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PropertyEU Archive
Caam Re sells logistics centre for EUR 24.5 mln
Caam Real Estate Italia, the manager of the closed-end property funds Caam Re Italia and Caam Re Europa, has agreed to sell a logistics platform in Basiano, near Milan, to an undisclosed investor. The transaction price of EUR 24.5 mln represents a 17% discount on the price Caam initially paid ...
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PropertyEU Archive
Top European real estate companies take EUR 44 bn devaluation hit
Europe's listed real estate companies suffered a EUR 44 bn non-cash devaluation hit to their investment portfolios in the last financial year, according to the second annual PropertyEU ranking of the top listed real estate investors in Europe. The largest devaluations were in the UK, which underwent a steep price ...
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PropertyEU Archive
Luxembourg office market hit by crisis
Luxembourg saw take-up fall 71% in Q1 to 14,200 m[sup]2[/sup] compared to the year-earlier period. This marks a fall of 60% compared to the Q1 five-year average, according to a new report by Savills.
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PropertyEU Archive
Frey starts development of Moulins retail park
French property company Frey has announced the launch of the development of the Moulins retail park located in Soissons, Northern France.
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PropertyEU Archive
Skanska and Platzer enter into property transaction
Skanska and Platzer have entered into a property transaction agreement in which Skanska will divest two parking garages and an office building in Gothenburg and acquire four development properties. Skanska will receive a net amount of SEK 168 M, generating a gain of SEK 97 M which is reported in ...
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PropertyEU Archive
Union Investment eyes Geneva
German open-ended fund Union Investment is now eyeing Geneva after its latest purchase of an office building in Zurich. Last week, the Hamburg-based fund announced it 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 ...
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PropertyEU Archive
Foruminvest sells Lille mall to Pramerica
Foruminvest France has sold shopping centre Le 31 in Lille, to two special funds of Pramerica, the Munich-based investment fund. The acquisition price was well above EUR 150 mln for a yield of around 6%, the company said in a press release. Negotiations on the deal became serious in the ...
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PropertyEU Archive
AMB Property Europe leases 11.000 m[sup]2[/sup] in Amsterdam
AMB Property Europe, a subsidiary of industrial real estate developer and operator AMB Property Corporation, said it has leased 11,000 m[sup]2[/sup] to an unnamed electronics firm at its Schiphol Distribution Center near Amsterdam in the Netherlands. The agreement means that the centre, which is located in a key distribution area ...
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PropertyEU Archive
New UK property lending down 41% in 2008
New lending to commercial property in the UK fell 41% in 2008, according to the latest edition of the annual Commercial Property Lending Survey conducted by De Montfort University in the UK. This sharp decline, which is expected to continue through 2009, has meant that little new debt is available ...
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PropertyEU Archive
Hammerson sells Paris jewel at 24% discount
UK REIT Hammerson has sold Les Trois Quartiers in Paris to private equity real estate investment group MGPA for EUR 210 mln - a 24% discount on the December 2008 valuation of the property at EUR 275 mln. Les Trois Quartiers comprises almost 30,000 m[sup]2[/sup] of retail and office space ...
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PropertyEU Archive
GPR 250 Europe returns slightly positive in May
The GPR 250 Europe index delivered a limited return of 0.8% in May, following on from a positive result in April. The best index performer in May was Italy at 20.2%, followed by France (5.4%); the Netherlands (5%), Finland (3.8%), Poland (GTC 2.9%), Switzerland (2.8%) and Germany (2.1%).
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PropertyEU Archive
Swiss Prime acquires 30% of Jelmoli Holding in takeover bid
Listed real estate investment company Swiss Prime Site (SPS) has made an unsolicited offer for all the shares in its largest rival, Jelmoli Holding. SPS said the proposed takeover would create an undisputed Swiss leader in real estate with a balanced portfolio valued at CHF 8 bn (EUR 5.3 bn).
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PropertyEU Archive
Metropol backs luxury hotel project in Montenegro
Russia's Metropol Group has entered into an agreement with Banyan Tree Hotels & Resorts to develop a luxury hotel at Metropol's Sveti Marko (Saint Marko) island resort in Montenegro.
