All Real Assets articles in Web Issue – Page 43
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PropertyEU Archive
ABN Amro sells office in central Amsterdam
Dutch bank ABN Amro has sold its office building on Dam Square, central Amsterdam, to a group of private investors for EUR 32 mln, or almost EUR 10,000 per square metre.
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PropertyEU Archive
EOP shareholders advised to back Blackstone
Shareholders of Equity Office Properties (EOP) have been advised to accept the enhanced buy-out offer made by private equity group Blackstone for EOP.
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PropertyEU Archive
Advisors see UK property boom ending
The commercial property boom in the UK may be finally ending, as new data suggests that prices started to fall in the latter part of 2006.
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PropertyEU Archive
Rodamco Europe announces share split initiative
Dutch-based Rodamco Europe plans to split its shares on a ratio of four new shares for one existing share to boost liquidity and 'make the share more accessible for private investors'.
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PropertyEU Archive
Irish banks to sell off more branches
The Bank of Ireland is poised to sell off more of its branches to investors in sale-and-leaseback deals, Irish business newspaper Sunday Business Post reported on the weekend.
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PropertyEU Archive
VastNed makes second Dusseldorf office buy
VastNed O/I has purchased a 8,500 m[sup]2[/sup] office building in the German city of Dusseldorf for EUR 18.2 mln, reflecting a net initial yield of 6%. The company said the annual rent income of EUR 1.2 mln, or EUR 130 per square metre, is below the market average.
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PropertyEU Archive
Caja Madrid, FCC to list property JV
Spanish bank Caja Madrid and construction company Fomento de Construcciones y Contratas SA (FCC) are to list 49% of their property joint venture Realia Business on the stock exchange.
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PropertyEU Archive
HSBC to sell Canary Wharf HQ
Banking giant HSBC is planning to sell and leaseback its headquarters building at Canary Wharf for £800 mln (EUR 1.2 bn). The deal is being touted as the biggest ever in Britain, with some observers saying the sale price may reach as much as £1bn.
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PropertyEU Archive
Toyoko in European hotel joint venture
Japanese hotel group Toyoko Inn has teamed up with Irish investor Frank Gormley of Howard Euroscape to expand the chain in Europe. The first phase of the contract is worth EUR 100 mln and involves the acquisition and development of five sites that will be leased back to Toyoko Inn, ...
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PropertyEU Archive
SCBSM buys EUR 150 mln property company
French Societe Centrale des Bois et Scieries de la Manche (SCBSM) is acquiring a real estate company with a property portfolio of about EUR 150 mln, newspaper Business Immo has reported. Some 45% of the portfolio comprises shopping centres in the Paris region, 24% of retail parks and 28% of ...
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PropertyEU Archive
Repsol sells EUR 160 mln in assets
Repsol YPF, Spain's largest oil company, announced it has sold property assets worth EUR 160 mln via an auction in Madrid. The disposals include a 8,300 m[sup]2[/sup] building with 90 parking spaces for EUR 65 mln, a 700 m[sup]2[/sup] office complex with seven parking spaces located in the Azca building ...
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PropertyEU Archive
Strategic Value Partners buys EUR 210 mln portfolio
American hedge fund Strategic Value Partners has purchased a German mixed-use portfolio for about EUR 210 mln. The Capri assets comprise eight properties spread across Berlin, Hamburg, Essen and Lubbenau providing a total space of 235,000 m[sup]2[/sup]. Approximately 48% of the properties are residential units, 34% consists of commercial business ...
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PropertyEU Archive
TKP invests EUR 52 mln in Standard Life's retail fund
Insurer Aegon's subsidiary TKP Pensioen announced it has invested EUR 52 mln in Standard Life's EUR 2.8 bn UK shopping mall fund, therefore becoming the first overseas investor in the retail fund. TKP's head of real estate Robert-Jan Tel said that the Netherlands-based pension group is willing to further invest ...
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PropertyEU Archive
Keops to sell EUR 943 mln of Swedish assets
Denmark-based Keops has announced it intends to sell real estate assets for a total amount of EUR 943 mln during the first quarter of 2007. Since 2004, the Danish property developer and investor has acquired Swedish real estate with a total value of EUR 2.6 bn . The acquisitions in ...
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PropertyEU Archive
St James, Tesco's revamp scheme gets approval
Tesco, the largest supermarket group in the UK, and St James Investment have received planning consent from the local authorities for a 10.8-acre regeneration scheme to be developed in Woolwich town centre.
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PropertyEU Archive
Atlassib set to develop hotels in Romania
Romania-based Atlassib group is in talks to acquire two plots of land in Bucharest, on which the group intends to develop two four-star Ramada hotels in spring 2007. 'We are in the final stages of negotiation to acquire a plot of land in the centre of the capital and another ...
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PropertyEU Archive
Rodamco Europe divests Frankfurt shopping centre
Rodamco Europe has agreed to divest 'Zeilgalerie' shopping center in Frankfurt, Germany to Signature Capital, an Irish based real estate company, for EUR 42.5 mln. The selling price represents a net initial yield of 5.3% and is 'well above latest book value', Rodamco Europe said in a press release.
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PropertyEU Archive
Multi Development starts Forum Como
Dutch project developer Multi Development has started construction of Forum Como, a project regenerating a former industrial area in the city of Como in northern Italy. The complex is scheduled to open in 2010.
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PropertyEU Archive
C&W continues European expansion
Cushman & Wakefield's global turnover rose by 23% in 2006 to a record $1.5 bn (EUR 1.1 bn), compared to a 21% increase in 2005. Turnover from operations in Europe, the Middle East and Africa rose by 29.4% to EUR 321 mln, with profits increasing by 52.2%.
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PropertyEU Archive
Urbas set to merge with Costa Rey, Guadahermosa
Urbas' shareholders have approved its merger with Spanish real estate groups Costa Rey and Guadahermosa. The property group also approved a plan to raise about EUR 46 mln through the sale of 71.8 million new shares at a nominal value of EUR 0.64 each, the company said in a regulatory ...
