All Real Assets articles in Web Issue – Page 439
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PropertyEU Archive
IVG fully places Protect fund for institutional investors
German firm IVG announced on Friday that its EUR 300 mln IVG Protect Fund has been fully placed. Protect is an open-ended, specialised real estate fund for institutional investors.
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PropertyEU Archive
Parcolog reaches agreement on EUR 100m refinancing
Generali's logistics property arm Parcolog has reached an agreement with French bank BNP Paribas on the refinancing of a portfolio of 10 logistics properties located mostly in Ile-de-France, Lyon and Lille. According to French newspaper BusinessImmo, the new financing facility amounts to EUR 100 mln and has a loan-to-value ratio ...
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PropertyEU Archive
Allianz RE to buy assets for up to EUR 2b in France
Allianz Real Estate plans to buy property assets worth up to EUR 2 bn in France within the next three years, Olivier Piani, global head of real estate at Allianz, told French newspaper La Tribune. The company will target shopping centres in the country with investments ranging between EUR 70 ...
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PropertyEU Archive
London & Stamford buys apartments for EUR 45m
AIM-listed opportunistic investor London & Stamford Property has completed the acquisition of a block of apartments in Highbury Square, London for £41.4 mln (EUR 45 mln) from Highbury Holdings.
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PropertyEU Archive
Terreis closes EUR 61m purchase of Paris assets
French property investment company Terreis has completed the acquisition of a retail and office complex located in the eighth arrondissement of Paris for EUR 61.5 mln. The property was sold by French fund manager Axa Reim on behalf of an unnamed client. The investment volume reflects a yield of 7%.
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PropertyEU Archive
Commerz Real buys logistics project at Frankfurt Airport
Commerz Real has acquired a logistics project development on one of the last remaining plots at the Cargo City Süd logistics park located south of the Frankfurt Airport runways.
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PropertyEU Archive
PEPR postpones EGM to review alternative capital raising plans
Prologis European Properties (PEPR) has announced that it has postponed the Extraordinary General Meeting (EGM) called for 30 September 2009, and will consult investors prior to reviewing alternative capital raising plans with its board.
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PropertyEU Archive
Jelmoli's Stucki mall opens its doors in Basel
Jelmoli Group's Stucki shopping centre has opened in the Swiss city of Basel. With 32,000 m[sup]2[/sup] of retail space, Stucki is the largest shopping mall in the region. Tivona Eta, part of the Jelmoli Group, has invested around CHF 260 mln (EUR 170 mln) in the development of the complex, ...
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PropertyEU Archive
Black Sea raises takeover bid for Deutsche Land
Romania-based investor Black Sea Global Properties (BSGP) has raised its offer to buy Deutsche Land, the London-listed German property investor, to 13 pence in cash per share.
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PropertyEU Archive
Opportunistic investors shun emerging markets as capital raising stutters
Capital raising by opportunistic real estate funds globally fell sharply during the first half of 2009, as institutional investors became far more risk adverse and fund managers turned away from emerging property markets in particular, according to the latest research from Clerestory Capital Partners.
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PropertyEU Archive
Court postpones decision on Risanamento
A Milan judge has decided to put off the decision on whether to declare Italian property company Risanamento bankrupt. The decision, which was expected last week, has been postponed until 15 October.
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PropertyEU Archive
Metrovacesa in talks to dispose of EUR 150m hotel
Spanish property group Metrovacesa is negotiating the sale of its Husa Princesa hotel in Madrid, according to Spanish newspaper Expansion. The Paris-based investment fund SA Continental Property Investments is the frontrunner in the bid to acquire the asset, whose value is estimated to be around EUR 150 mln. BNP Paribas ...
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PropertyEU Archive
Colonia closes EUR 67m asset disposal
Cologne-based Colonia has announced the completion of the disposal of 937 residential and 79 commercial units in Berlin for EUR 67 mln. The properties owned by three Colonia subsidiaries were acquired by a consortium consisting of Conwert Immobilien Invest SE and Kronberg RE.
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PropertyEU Archive
CBRE advises BBVA on largest deal of the year
CB Richard Ellis said it advised Spanish bank BBVA on the sale-and-leaseback of its real estate portfolio, comprising more than 948 bank branches and office buildings throughout Spain. This is the largest property disposal so far in 2009.
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PropertyEU Archive
CoreNet Global announces the retirement of CEO Prentice Knight
CoreNet Global has announced that its CEO for the last three years, Dr. Prentice Knight, is to retire. Dr. Knight was named CEO in April 2006.
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PropertyEU Archive
CBRE Investors sells office building in Leeds
CB Richard Ellis Investors announce that its Strategic Partners UK team has sold One Leeds City Office Park to Credit Suisse for £17.17 mln. representing a net initial yield of 8%.
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PropertyEU Archive
NH Hoteles, Hesperia to merge hotel management business
Spanish hotel chains NH Hoteles and Hesperia have signed an agreement for the integration of their hotel management businesses. The deal implies the creation of the largest Spanish hotel group within the urban segment, the two partners said in a statement.
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PropertyEU Archive
HSBC tower close to third sale in two years
Two Asian groups are reportedly competing to acquire the HSBC tower in London for about EUR 875 mln. If a deal goes ahead, it will be the third time the tower has changed hands in two years.
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PropertyEU Archive
Tide turning on institutional interest in UK commercial property
More than half of the UK's institutional pension funds are planning to increase their commercial property investment allocation - despite the dramatic falls in values since 2007, according to new research published on Monday by global real estate investment manager Prupim and the Pensions Management Institute (PMI).
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PropertyEU Archive
London office market heading out of recession - C&W
The third quarter ending on 30 September will be the best for the London office letting market since the collapse of Lehman Brothers, according to a report from real estate advisor Cushman & Wakefield.
