All Real Assets articles in Web Issue – Page 438
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PropertyEU Archive
Pirelli RE sells property in Hamburg-Blankenese
Pirelli Real Estate has sold the Gossler's Park business premises in Hamburg-Blankenese to Paribus Real Estate for EUR 15.8 mln. 'The multi-purpose mixture of tenants from the retail, office, medical and residential sectors, combined with the Hamburg Blankenese location, ensures the investor long-term of continuous good returns,' said Paolo Bottelli, ...
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PropertyEU Archive
SNS REAAL completes EUR 135m equity issue
Amsterdam-listed banking group SNS REAAL announced the completion on Thursday of a EUR 135 mln equity issue through an accelerated bookbuild offering.
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PropertyEU Archive
PIK to get EUR 338m in new financing from Sberbank
Troubled Russian property developer PIK Group has reached agreement with Sberbank, Russia's largest state-owned lender, on a EUR 338 mln financing facility to fund new projects. The new loan is conditional on the developer servicing its existing debt of EUR 318 mln, Sberbank's chairman German Gref told newspaper The Moscow ...
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PropertyEU Archive
CA Immo, Deutsche Wohnen to raise EUR 400m of equity
Vienna-based CA Immobilien Anlagen has announced plans to raise between EUR 100 mln and EUR 150 mln through the issue of a corporate bond. The company has mandated UniCredit CAIB bank to manage the operation, which is scheduled for October.
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PropertyEU Archive
Great Portland makes EUR 50m acquisition in London
Great Portland Estates has exchanged contracts to purchase 90 Queen Street in London for £46mln (about EUR 50 mln). The office and retail building was built in 1996 and comprises just over 6,000 m[sup]2[/sup] of space. The property is the UK office of Italian bank Intesa Sanpaulo and is occupied ...
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PropertyEU Archive
Olav Line appointed new CEO of Norwegian Property
Olav Line has been appointed as new CEO of Norwegian Property. Aged 51, Line has been the CEO of shopping centre group Steen & Strøm since 2003. In total he has 25 years of experience in the Norwegian and Nordic commercial real estate markets, having held leading positions in NSB, ...
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PropertyEU Archive
Catella RE Germany appoints Michael Denk as head of business development
Michael Denk has been appointed head of Business Development/High Net-worth at Munich-based Catella Real Estate. His responsibilities will include the account management of financial intermediaries, churches, foundations, as well as the wealth management of high-net-worth-individuals and family offices.
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PropertyEU Archive
IVG purchases multi-let asset in Brussels
German investor IVG has acquired Estuary Properties, the owner of a prime multi-let asset in the heart of the Brussels central business district. The property, located just minutes walk from the European Parliament, is multi-let to a variety of tenants.
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PropertyEU Archive
Immoeast to sell some of its Romanian, Moscow assets
Austrian real estate developer Immoeast is planning to sell part of its EUR 750 mln property portfolio in Romania, CEO Eduard Zehetner told news agency Bloomberg. Zehetner said that the company is 'over-invested in certain countries like Romania' and will seek to reduce dependence on that market.
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PropertyEU Archive
Peach Property buys into German real estate
Switzerland's Peach Property Group has boosted its presence in the German real estate market with the acquisition of two residential and commercial projects from Germany's Vivacon. The company has acquired two developments in Hamburg and Berlin with total development costs of roughly CHF 253 mln (EUR 166 mln). The financial ...
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PropertyEU Archive
Trigranit resumes construction of Polus Center Constanta
Hungarian property company Trigranit said it is resuming construction of its Romanian shopping centre project, Polus Center Constanta, after halting the development at the end of 2008 due to the credit crunch. The CEE real estate builder, which slashed its development pipeline in half last year, will invest around EUR ...
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PropertyEU Archive
Menkveld steps down as CEO of SNS Property Finance
Marius Menkveld is stepping down as CEO of SNS Property Finance following strategy changes at the Netherlands-based real estate financier. Menkveld is leaving on 1 October and is also resigning from the board of directors of SNS Bank and the management committee of SNS Reaal.
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PropertyEU Archive
RREEF consortium completes EUR 1.1bn acquisition of BBVA assets
A consortium led by of Deutsche Bank's property fund RREEF has completed the sale-and-leaseback of the majority of the Spanish assets of BBVA bank for EUR 1.15 bn.
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PropertyEU Archive
Union Investment acquires office building in Paris for EUR 177m
Hamburg-based Union Investment Real Estate has acquired the office building 'A4C' in Paris Rive Gauche from asset manager Standard Life Investments for EUR 177 mln.
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PropertyEU Archive
Equest Balkan suffers EUR 71m loss
Equest Balkan Properties (EBP) has seen its loss widen to EUR 71 mln in the first six months of 2009 from EUR 9 mln a year ago. The company attributed the higher losses to 'a severe deepening in the decline of the commercial property values in South East Europe'.
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PropertyEU Archive
Deutsche Pfandbriefbank provides finance for Aurelis deal
Deutsche Pfandbriefbank has agreed an investment finance facility in excess of EUR 900 mln with Hochtief Projektentwicklung and Redwood Grove International.
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PropertyEU Archive
Orco bondholders reject restructuring plan
Orco Property Group has been forced back to the drawing board after bondholders rejected the ailing CEE investor-developer's debt restructuring plan. The bondholders voted down an enhanced proposal in relation to a debt-for-equity swap on 24 September.
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PropertyEU Archive
LaSalle completes major new development in Slough
LaSalle Investment Management has opened Windsor House, a 9,100-m[sup]2[/sup] HQ office proeprty in the centre of Slough, UK.
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PropertyEU Archive
DTZ coordinates projects for Zlote Tarasy
DTZ said that its project and building consultancy team in Poland had again been appointed to coordinate tenants and to provide project management for rearrangement of retail space at Zlote Tarasy in Warsaw.
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PropertyEU Archive
SWIP, C&W Investors to launch European retail fund
Scottish Widows Investment Partnership (SWIP) is teaming up with Cushman & Wakefield Investors (CWI) to launch a diversified pan European urban retail property fund, PURetail. Aimed at institutional investors, the fund’s focus will be on core city centres across Europe.
