All Real Assets articles in Web Issue – Page 40
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PropertyEU Archive
ING REF arranges EUR 260 mln financing
ING Real Estate Finance (ING REF) has arranged a £174 mln (EUR 260 mln) credit facility for the acquisition of 88 Wood Street in London by a co-investment partnership. To date, 50% of the facility has been syndicated.
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PropertyEU Archive
C&W secures EUR 55 mln office building
Cushman & Wakefield Investors has completed the purchase of a Paris office building sold by the commercial property investment company Unibail for EUR 55 mln, excluding tax. Located in the 17th arrondissement of Paris, the building is 95% let and provides an area of 4,663 m[sup]2[/sup] with 98 parking spaces ...
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PropertyEU Archive
ING acquires French shopping centre development
ING Real Estate Investment Management (ING REIM) has acquired the Maison shopping centre development in Pas-de-Calais, on the northern coast of France, from the French property group Sopic . The Maison mall has been acquired on behalf of the retail-dedicated property fund ING Retail Property Fund France Belgium. The financial ...
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PropertyEU Archive
City Inn plans Amsterdam's largest hotel
Dutch real estate company Bouwfonds MAB is to develop the largest hotel in Amsterdam on behalf of London-based hotel group City Inn. The hotel, scheduled to open in 2012, will have 550 bedrooms, plus restaurants and conference facilities.
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PropertyEU Archive
Ballester, Monteverde 'to set new property group'
Property companies Ballester and Monteverde have agreed to jointly found a new real estate company and an agreement may be signed next week, according to unnamed sources from the sector. The new company will be owned 80% by Ballester and 20% by Monteverde and will start with a capitalisation of ...
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PropertyEU Archive
Hypo RE bank completes Moscow office financing
Munich-based Hypo Real Estate Bank International has provided London & Regional Properties with $61 mln (EUR 47 mln) senior financing for the purchase of the Ducat Place II office building in Moscow. Ducat Place II is a 10-storey, 19,146 m[sup]2[/sup] office tower. Its tenants include Morgan Stanley, Motorola, DTZ and ...
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PropertyEU Archive
NH Hoteles considers Sotogrande listing
NH Hoteles is looking to list up to another 49% of its luxury property unit Sotogrande in the next few months to finance acquisitions or cut debt, Spanish newspaper Expansion reported, citing NH Hoteles' chairman Gabriele Burgio.
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PropertyEU Archive
Telefonica, O2 move into Munich skyscraper
Telefonica's 1,800 employees in Germany are moving to a Munich skyscraper. The move is designed to unify the headquarters of Telefonica Deutschland and telecom company O2. The Spanish telecommunications giant acquired 02 in a EUR 24.2 bn takeover in early 2006. The headquaters move is to be completed by February ...
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PropertyEU Archive
RE investment in Europe tops EUR 230 bn
Turnover in the commercial real estate investment market in 2006 exceeded EUR 230 bn, more than a 40% increase on the turnover in 2005. Increased turnover was recorded in all of the 25 European countries covered by the survey, but the rate of growth differed significantly between countries, according to ...
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PropertyEU Archive
European retail real estate rings up EUR 26 bn
Retail real estate transactions in continental Europe reached a total of EUR 26 bn in 2006 - up 77% on 2005, and three times higher than the level in 2004, according to research by property advisor Jones Lang LaSalle (JLL). The number of transactions last year was up by two ...
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PropertyEU Archive
Irish commercial property delivers returns of 28.5%
Commercial property in Ireland outperformed the local stock market in 2006 with overall returns of 28.5%, the highest since 1999, according to the latest Jones Lang LaSalle Irish Property Index. 'The property market last year experienced the type of growth level previously seen before the millennium and, in spite of ...
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PropertyEU Archive
Inmoracal may raise EUR 700 mln in share issue
Spanish property giant Inmocaral may finance the acquisition of Riofisa by issuing EUR 600 mln to EUR 700 mln worth of new shares, Inmoracal's ceo Mariano Miguel told in an interview to the Spanish newspaper El Economista. It is understood that the company is also interested in increasing its stake ...
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PropertyEU Archive
Deutsche Land to issue EUR 75 mln shares
AIM-listed real estate company Deutsche Land has announced it intends to raise about EUR 75 mln through the issue of new shares to finance its ongoing investment programme. The move follows the EUR 217 mln acquisition of the Frankfurt Airport's Main Airport Center on 2 January.
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PropertyEU Archive
AIK acquires Brussels office
German property investment company APO Immobilien-Kapitalanlagegesellschaft (AIK) has entered the Belgium market through the purchase of the leasehold rights of an office building in Brussels from Belgian group Cofinimmo. The property is situated next to the Centre Culturel d'Auderghem in Souverain Plaza. The financial details of the transaction have not ...
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PropertyEU Archive
Alpha Real buys office portfolio in Paris
Alpha Real Capital's Alpha Pyrenees Trust investment fund has acquired a portfolio of three office buildings from the investment manager Oppenheim for EUR 44 mln. The portfolio includes a 6,338m[sup]2[/sup] building in Saint-Cyr-l'Ecole near Paris, entirely let to the agricultural company Syngenta and a 5,933m[sup]2[/sup] building in the Descartes-Nobel park ...
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PropertyEU Archive
Arlington launches UK property fund of funds
Property investment and management company Arlington Securities has announced the launch of its UK Fund of Funds, which will become the second sub-fund in its Fund of Funds umbrella product. The new Arlington product will invest in funds with a low-to-medium risk profile and will target to outperform the HSBC/AREF ...
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PropertyEU Archive
VastNed enters Turkey with buy of Istanbul mall
Dutch-based pan-European retail property investor VastNed Retail has entered Turkey through the purchase of the Elysium Shops shopping centre from developers Mimtur and Ofton for EUR 9.7 mln. The mall, located in the Sisli district in Istanbul, is newly built and provides 4,850 m[sup]2[/sup] of retail space on the ground ...
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PropertyEU Archive
Sparkassen completes largest German purchase
Austrian real estate investment and development company Sparkassen Immobilien has acquired a mixed-use property portfolio comprising 53 apartment buildings and the Berlin-Mitte tax office. The assets cover an area of 188,000 m[sup]2[/sup] and are distributed across Berlin. This is the company's largest acquisition in Germany, a market which represents 22% ...
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PropertyEU Archive
Sonae Sierra to open two malls in Spain
Sonae Sierra, the specialist in the development of shopping malls, is to open two shopping centres in Spain in the autumn. The malls, in Ponferrada and Malaga, will involve an investment of EUR 158 mln, the Portuguese company said on Tuesday.
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PropertyEU Archive
Spanish retail adds 28 shopping malls in 2006
The Spanish property sector recorded a total of EUR 4.1 bn in transactions in 2006, of which EUR 2.3 bn was spent in the retail property segment. Spending in the retail segment which delivered 23 new shopping malls and five expansion schemes was EUR 300 mln higher than a provisional ...
