All Real Assets articles in Web Issue – Page 402
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PropertyEU Archive
Ropemaker buys office in London at 8.75% yield
Ropemaker Properties, the property holding company of BP Pension Fund, has acquired 200 Hammersmith Road, London from BlackRock's UK property fund for £24.55 mln (EUR 29 mln). CB Richard Ellis, which acted for Ropemaker, said the transaction volume reflected an initial yield of 8.75%.
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PropertyEU Archive
CBRE fund acquires office property in Belgium
CB Richard Ellis Investors has acquired the Aramis office scheme in Zaventem, Belgium. The financial details of the transaction on behalf of investment fund CB Richard Ellis Strategic Partners Europe Fund III were not disclosed.
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PropertyEU Archive
API to step up UK investment activities
Aberdeen Property Investors is seeking to step up its UK investment activities with the launch of a UK opportunity fund.
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PropertyEU Archive
Beni Stabili may sell Garibaldi towers to municipality
The municipality of Milan is considering Beni Stabili's Garibaldi Towers as one of the options for its new head office in the city, CEO Aldo Mazzocco told PropertyEU at the Expo Italia Real Estate (EIRE) fair being held in Milan this week. The project, which comprises around 40,000 m[sup]2[/sup] of ...
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PropertyEU Archive
Commerz Real buys Liverpool development
Commerz Real has said it intends to carry out EUR 1.5 bn of new real estate acquisitions in Europe. 'Our plans include other real estate acquisitions in a volume between EUR 1-1.5 bn on behalf of our open-ended real estate funds before the end of this year,' said Commerz Real ...
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PropertyEU Archive
La Lucette's CEO steps down
French investor La Lucette said that Stéphane Theuriau is stepping down from his roles of chairman and chief executive officer , effective July 1, 2009. Theuriau will remain as a director of the company after his resignation. He will also retain his role as chairman of the company's investment committee.
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PropertyEU Archive
PropertyEU Week Edition: Opportunities dawn
European property shares moved sideways over the last eight weeks and underperformed the benchmark MSCI Europe stock index by 10%, according to a new report by JP Morgan's property analysts. While warning stocks are unlikely to bounce back as quickly as happened in the 1990s, the report - The winner ...
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PropertyEU Archive
Spanish retail sees yields move out: Savills
Real price adjustments in the Spanish retail investment market are taking place and prime shopping centre yields have moved out 200 basis points since the start of 2008, according to new research issued by Savills. With product on the market as well as investors seeking opportunities, the international property advisor ...
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PropertyEU Archive
Reyal Urbis appoints JLL to market 51,000 m[sup]2[/sup] business park
Jones Lang LaSalle has been appointed by Spanish property developer Reyal Urbis to manage the marketing of a new 51,000 m[sup]2[/sup] office complex in Madrid - the seventh largest office scheme in the Spanish capital.
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PropertyEU Archive
Orchard Street acquires London asset for EUR 25m
Orchard Street Investment Management is acquiring 60 Cannon Street in London EC4 for its Special Situations Fund. The transaction volume of £21.38 mln (EUR 25.3 mln) reflects an initial yield of 8.23%.
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PropertyEU Archive
Vastned Retail sells non-core portfolio for EUR 36m
VastNed Retail has said it sold a portfolio of non-core properties in the Netherlands for EUR 36.2 mln, slightly above book value. The pan-European property investment fund said the proceeds from the sale will be used to strengthen its balance sheet.
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PropertyEU Archive
Echo agrees EUR 50m financing for Park Postepu project
Polish developer Echo Investment Capital Group has concluded a EUR 50 mln credit agreement with German real estate bank Eurohypo to refinance the building costs of the Park Postepu office project in Warsaw.
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PropertyEU Archive
Warburg-Henderson funds spend EUR 58m in UK debut
Hamburg-based Warburg-Henderson has acquired two properties in the Scottish city of Edinburgh for £50 mln (EUR 58 mln). In a statement, the Hamburg-based joint venture between M.M.Warburg & CO and Henderson Global Investors said Edinburgh has proved to be more stable and less affected than London by the global financial ...
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PropertyEU Archive
Starwood Capital acquires Golden Tulip hotel chain
Starwood Capital has announced that it is acquiring the multi-brand Swiss-based hotel group Golden Tulip which filed for bankruptcy earlier this year. The transaction is subject to due diligence that will be completed on 26 June.
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PropertyEU Archive
Waldeck hotel fund appoints non-executive chairman
The Global Hospitality Recovery Fund, which was launched by Waldeck Capital in March to acquire luxury hotels, has appointed Lord Anthony St John to the role of non-executive chairman. Waldeck had originally sought to raise EUR 500 mln in equity for the fund but it has since decided to increase ...
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PropertyEU Archive
Mateus, Banif JV to develop Portalegre mall
Portugal's Grupo Mateus has announced it is to develop a new 16,000 m[sup]2[/sup] shopping centre in the Portuguese city of Portalegre. City Shopping Portalegre will be built in a joint venture with bank Banif, private financial group Millenium BCP and the real estate investment fund Eminvest.
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PropertyEU Archive
PropertyEU Week Edition: Billionaire offers 'exit' to beleagured investors
Romanian billionaire businessman Dan Costache (Dinu) Patriciu has kicked off a new round of takeovers and stake-building in beleaguered UK-listed funds which invest in European commercial real estate.
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PropertyEU Archive
German funds boost foreign stake
German open-ended real estate funds have boosted their investment in foreign countries to 70.3% at end March 2009 from 68.6% a year earlier, according to figures from BVI Bundesverband Investment und Asset Management, the sector organisation for the German investment and asset management industry. The funds' home market Germany now ...
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PropertyEU Archive
London boss to leave Land Securities following shelved demerger
Land Securities has announced that Mike Hussey is to step down as head of the UK REIT's London division and leave the company at the end of June.
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PropertyEU Archive
UK, Norway and Poland to recover first, says C&W
Cushman & Wakefield says UK, Norway and Poland most likely to see early recovery followed by Denmark, Finland and the Czech Republic. Cushman & Wakefield makes the prediction in its bi-monthly Economic Pulse reports analysing business and commercial real estate interests and conditions in Asia, Europe and the Americas. The ...
