All Real Assets articles in Web Issue – Page 4
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PropertyEU Archive
Multi Development in EUR 521 mln Bath regeneration scheme
The UK division of Multi Development has confirmed that it signed a joint venture agreement with Morley Fund Management last week for a EUR 521 mln regeneration in the centre of Bath in the southeast of England. A subsidiary of the Dutch-based Multi Corporation, Multi Development also announced on ...
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PropertyEU Archive
Champs-Elysees property sells for EUR 68 mln
Property investment companies Societe Fonciere Lyonnaise (SFL) and Ile-de-France have agreed the sale of Parelys, which owns a property at 118 avenue des Champs-Elysees in Paris, for a net prize of EUR 68 mln. The buyer Risanamento Europe has agreed to repay Parely's debt as part of the transaction, valuing ...
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PropertyEU Archive
Aareal Asset Management increases stake in fund
Aareal Asset Management has increased its equity from EUR 150 mln to EUR 350 mln in the Aareal Eurologistics fund bringing the total investment capital of the fund to EUR 1 bn. The fund concentrates mainly on investment in Germany, and is also active in France, Spain, the Benelux, ...
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PropertyEU Archive
Cushman & Wakefield wins European Property Award
Cushman & Wakefield has won two of the four awards open to property advisors at the European Property Awards 2006 held during the Expo Real commercial property trade fair in Munich this week. The jury awarded Cushman & Wakefield the awards for European Office Agency Team of the Year 2006 ...
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PropertyEU Archive
YIT buys plots in St Petersburg for 15,000 homes
Finnish real estate manager YIT has acquired two residential plots in St Petersburg by purchasing the shares in a company that owns the land for EUR 37 mln. The plots, measuring a total of 46 hectares, are zoned for housing and YIT said construction of buildings with more than 15,000 ...
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PropertyEU Archive
Invesco in EUR 1 bn hotel spending spree
British asset manager Invesco Real Estate announced it has reached agreement with Generali France on the establishment of a separate investment account to invest EUR 300 mln of the French insurance company's equity in hotel real estate across Europe. As part of the deal Invesco will take over the asset ...
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PropertyEU Archive
Plaza Centers IPO priced at 180p
Plaza Centers, a developer of shopping malls in Eastern Europe, announced on Friday it has set a price of 180 pence per share for its initial public offering to institutional investors in London, valuing the company at £514.3 mln (EUR 766.6 mln). The offer consists of 85.71 million new ordinary ...
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PropertyEU Archive
UK investor acquires EUR 214 mln German portfolios
UK-based Dawnay, Day Treveria has acquired two retail property portfolios in Germany for a total of EUR 214 mln. The portfolios comprise 47 properties, including two large shopping centres, located in towns across Germany. Major tenants of the buildings include H&M, Reve, Media Markt and Deichmann. The gross current ...
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PropertyEU Archive
John Laing accepts Allianz takeover bid
Leading UK construction company John Laing has announced it has withdrawn support for a takeover bid by Henderson Global Investor in favour of a £957.5 mln (EUR 1.43 bn) cash offer by a subsidiary of German insurer Allianz. Henderson's bid in September valued John Laing at £887 mln (EUR ...
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PropertyEU Archive
German SPD makes small concession in REIT row
The German Social Democrat Party SPD has signalled it may agree to a partial inclusion of residential properties in legislation to introduce real estate investment trusts (REITs) in Germany. A party spokesperson said in an interview that the SPD still opposes REIT eligibility for purely residential properties, but may approve ...
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PropertyEU Archive
Savills enters Moscow market
Savills, the London-based international property services company, has entered the Moscow market through a partnership with Intermark, a British-owned residential estate agent operating in and around the Russian capital. Branded as Intermark Savills, the partnership will concentrate on the residential agency business in the most expensive property market in the ...
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PropertyEU Archive
Marseilles project acquired for EUR 64 mln
Two French financial groups have acquired a 19,800 m[sup]2[/sup] mixed use project in the major urban redevelopment in Marseilles, France for EUR 64 mln from developer Constructa. The finances were provided by Caisse d'Epargne Provence-Alpes-Corse, in association with Crédit Foncier de France. The 'Coeur Méditerranée', designed by architect Jean-Paul Viguier, ...
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PropertyEU Archive
DIFA sells Nautilus portfolio for EUR 860 mln
German investment fund DIFA has completed the sale of the Nautilis portfolio of German office properties to Tishman Speyer Properties and IVG for EUR 860.5 mln. Tishman Speyer is paying about EUR 670 mln for ten properties belonging to the DIFA-Fonds Nr. 1, while four properties, owned by DIFA-GRUND, were ...
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PropertyEU Archive
Warburg Pincus raises EUR 994 mln for global property fund
Warburg Pincus, the global private equity firm, has announced the final closing of its new EUIR 994 mln ($1.2 bn) Warburg Pincus Real Estate fund that will invest in real estate worldwide. 'Real estate investing has been a focus area for Warburg Pincus for more than two decades, so I'm ...
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PropertyEU Archive
CGI acquires Hamburg-America office development
Fund manager CGI, a member of Commerz Grundbesitz Group (CGG), has signed the deed for the Hamburg-America-Center office development in Hamburg's new Hafen City port district. The volume of the transaction is about EUR 26 mln and the anticipated gross acquisition yield is more than 5.5%. The building, with ...
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PropertyEU Archive
Astroc makes second big acquisition
Spain's Astroc Mediterraneo has acquired 60% of the property arm of Grupo Rayet for EUR 449.5 mln and it holds an option to purchase the remaining 40 % for EUR 299 mln. The transaction came a day after Astroc acquired Banco Sabadell's real estate unit, Landscape Promocions Immobiliaries, for EUR ...
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PropertyEU Archive
Guardian Asset Managers in first Warsaw investment
Guardian Asset Managers has made its first investment in Warsaw through a sale-and-lease-back acquisition of the Philips HQ in the Polish capital. Jones Lang LaSalle represented the seller Philips while King Sturge represented the Guardian Asset Managers. The property, comprising 5,751 m[sup]2[/sup] of rentable office space and with covered parking ...
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PropertyEU Archive
Breevast buys major real estate portfolio from MPC
Dutch company Breevast has reached agreement with Germany's MPC Münchmeyer Petersen Capital on the purchase of a huge office portfolio in the Netherlands. The transaction involves 99 office buildings with a total floor space of 530,000 m[sup]2[/sup] and 500 tenants located across the Netherlands. The properties come from 27 ...
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PropertyEU Archive
Cofinimmo posts rise in net profit
Belgian real estate company Cofinimmo has posted a nine-months net profit of EUR 86.6 mln, up from EUR 62.163 mln a year earlier. Net earnings per share was EUR 8.91, compared with EUR 6.40 in the same period last year. Rental income fell to EUR 101.8 mln from EUR ...
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PropertyEU Archive
Halverton takes complete ownership of German subsidiary
London-based Halverton Real Estate Investment Management has exercised an option to take 100% ownership of its German subsidiary from private equity group NAI Apollo Real Estate. 'At the time we established the German business, we selected a short term strategic partner in NAI Apollo. The business has grown rapidly in ...
