All Real Assets articles in Web Issue – Page 42
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PropertyEU Archive
Eurohypo to finance property deals in Romania
German bank Eurohypo plans to grant loans worth a total of EUR 200 mln for property deals in its first year of business in Romania, financial newspaper Ziarul Financiar reported. Globally Eurohypo targets the commercial rather than the residential property segment and it will do the same in Romania, a ...
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PropertyEU Archive
Europe leads record investment growth
Global investment volume in commercial real estate rose by 33% last year to a record EUR 491 bn, according to the International Investment Atlas of property advisor Cushman & Wakefield. The growth was particularly strong in Europe and Asia with increases of 50% and 48% respectively.
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PropertyEU Archive
Macquarie, GCI join forces in Paris office
Macquarie Global Property Advisors (MGPA) and Generale Continentale Investissements (GCI) have teamed up to acquire a 32,000 m[sup]2[/sup] office complex development currently under construction in Saint-Denis, northern Paris, for EUR 113 mln. The Balthazar complex, acquired from French property company Fonciere Dixence, is being developed by construction group Sogelym Steiner.
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PropertyEU Archive
Rental growth lifts France's Klepierre
A strong increase in rents from shopping centre properties helped lift Klepierre's total revenues in 2006 by 16% to EUR 568.6 mln. The office segment also turned in a strong performance with rents on a constant basis up 11.9% thanks to a high occupancy rate of 98.7%.
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PropertyEU Archive
MSREF set to purchase Hamburg offices
Morgan Stanley Real Estate Funds (MSREF) is set to acquire an office portfolio in Hamburg, Germany, from German property investor Dieter Becken for EUR 670 mln, FT Deutschland has reported. The paper said on Wednesday US investment bank Morgan Stanley 'may be buying' the Berliner Bogen and Deichtorcenter office complex ...
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PropertyEU Archive
Plans for Ulster's highest skyscraper unveiled
Developer McAlister Holdings has submitted plans for a new 37-floor landmark tower in the heart of the city of Belfast which would become the tallest building in Northern Ireland, and second in Ireland only to the U2 tower in Dublin, website Belfast Today reported.
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PropertyEU Archive
Chelmsford gets EUR 2.27 bn facelift
The Borough Council of Chelmsford in eastern England has unveiled plans for a EUR 2.27 bn revamp of the town, including new homes, offices and up to 100,000 m[sup]2[/sup] of retail space. The scheme, named Chelmsford Tomorrow, aims to transform Chelmsford into 'the leading regional centre in the East of ...
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PropertyEU Archive
Russia to lead property growth in 2007
The economies of Central and Eastern Europe are expected to strengthen further in the next year, with the Czech Republic, Poland and Romania delivering strong growth. At the same time, Russia is expected to remain 'the major regional powerhouse' in 2007, according to a report by international property advisor Jones ...
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PropertyEU Archive
Kenmore buys European assets for EUR 202 mln
UK-based Kenmore has acquired five European properties for a total value of EUR 202 mln. The acquisitions include six office buildings providing 33,221 m[sup]2[/sup] in Oslo, Norway (EUR 52.4 mln), 21 mixed-use assets in the Helsinki Economic area, Finland (EUR 32 mln), a 13,000 m[sup]2[/sup] retail warehouse close to Helsinki ...
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PropertyEU Archive
Prasa buys 3% of Metrovacesa at EUR 95 per share
Spanish property group Prasa has acquired a 3% stake in peer Metrovacesa at EUR 95 per share from Metrovacesa's chairman Joaquin Rivero and board member Bautista Soler, Spanish newspaper Cinco Dias has reported.
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PropertyEU Archive
Repsol set to invest EUR 300 mln in Madrid HQ
Oil company Repsol will invest about EUR 300 mln in an industrial estate in Madrid which will house its new headquarters, Spanish national newspaper El Pais reported, without disclosing the source of its information. The oil and gas company has acquired a 30,000 m[sup]2[/sup] plot of land from its affiliate ...
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PropertyEU Archive
Groupe Caisse d'Epargne set to buy 4-6% of Icade
Groupe Caisse d'Epargne, a network of French savings banks, has denied reports in French newspaper Le Monde that it aims to become the majority shareholder of Icade.
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PropertyEU Archive
Credit Suisse buys Swedish offices for EUR 72 mln
Credit Suisse Asset Management (CSAM) has agreed to pay Sweden's NCC Property Development SEK 658 mln (EUR 72.4 mln) for the Vasterport office project in Stockholm. The project comprises approximately 20,000 m[sup]2[/sup] of office space and will be sold in the form of a company. Credit Suisse is scheduled to ...
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PropertyEU Archive
AEGON adds hotel rooms to its property portfolio
AEGON Scottish Equitable has become the first major pension provider to offer a direct hotel room purchase through a pension fund. The Edinburgh-based unit of the Dutch insurance giant AEGON has added GuestInvest, the UK buy-to-let hotel company, to its Self Invested Personal Pension (SIPP) investments, in what is said ...
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PropertyEU Archive
ULI extends deadline for excellence awards
The Urban Land Institute (ULI) has extended the deadline to submit entries for its Award for Excellence programme to February 23. The awards recognise best practices in Europe, the Americas and the Asia Pacific region along the full development process of a project, from design to management of the completed ...
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PropertyEU Archive
Homburg steps up battle for Canadian REIT
Homburg Invest has entered a binding agreement to acquire just under three million shares, representing approximately an 11% stake, in Montreal-based Alexis Nihon Real Estate Investment Trust for an undisclosed sum. Homburg already held 8.6% of Alexis Nihon following several transactions last month. This leaves Homburg with a holding of ...
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PropertyEU Archive
Warner Estate to buy JS Real Estate
Britain's Warner Estate has agreed to pay 700 pence a share for JS Real Estate in a deal that values the AIM-listed property company at £114 mln (EUR 173 mln). Warner said in a statement on Friday that the acquisition would improve its position ahead of conversion to a real ...
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PropertyEU Archive
City Inn targets European capitals
City Inn, the privately owned UK hotel company, plans to open new hotels in the major European capitals within the next few years. 'We are looking at cities like Paris, Rome, Madrid and Barcelona,' Sandy Orr, executive chairman of City Inn, said at a press conference announcing a new City ...
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PropertyEU Archive
Moorfield buys 24 hotels in UK
Moorfield Real Estate Fund has paid £400 mln (EUR 605 mln) to acquire 24 hotels in the UK from MacDonald Hotels & Resorts. The terms of the deal specify that MacDonald will continue to manage the properties in the short term. It will face off again two international hotel companies ...
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PropertyEU Archive
Develica acquires retail properties for EUR 48 mln
AIM-listed German property company Develica Deutschland has exchanged contracts to acquire a fully-let retail investment portfolio for a total of
