All Real Assets articles in Web Issue – Page 44
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PropertyEU Archive
Germany set to reform open-ended property funds
The structure of Germany's open-ended property funds is set to change radically in the wake of a draft bill submitted by the German finance ministry to reform the investment act which currently regulates the criteria of this type of fund. Under the new legislation existing open-ended property funds will ...
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PropertyEU Archive
Jones Lang La Salle opens Romanian office
International property advisor Jones Lang La Salle yesterday announced it has opened a new office in Bucharest, Romania. The new addition follows seven other new offices opened over the last year in Dubai, Rome, London Heathrow, Zaragoza in Spain, Kiev in Ukraine and Kazakhstan capital's Almaty.
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PropertyEU Archive
Neinver poised to develop EUR 125 mln mall
Construction has started for the Galeria Malta shopping mall, where Spanish property company Neinver plans to invest EUR 125 mln. The development will provide 52,000 m[sup]2[/sup] of shopping and entertainment areas, located on an eight-hectare plot near lake Malta in Poznan, central Poland.
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PropertyEU Archive
Vastned O/I share issue generates EUR 50 mln
Vastned Offices/Industrial announced yesterday it has successfully placed 1,683,502 ordinary shares for a total value of EUR 50 mln. The shares were sold at a price of EUR 29.70 each, which is equivalent to the share closing price on Tuesday, the Rotterdam-based property investor said in a press release. Vastned ...
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PropertyEU Archive
Alstria Office purchases German portfolio
Property company Alstria Office has acquired a German portfolios consisting of eight office buildings from the real estate fund UBS (D) Euroinvest. The financial details of the transaction have not been disclosed.
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PropertyEU Archive
Multi Development's Polish mall gets approval
Gdansk-based Multi Development Poland announced it has received planning approval for the construction of the Forum Koszalin shopping centre on the southern edge of the city of Koszalin in northern Poland. Multi Development said in a press release that the mall will be the biggest retail and leisure centre in ...
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PropertyEU Archive
Threadneedle launches first UK authorised property trust
Threadneedle Investments, a leading UK retail investment fund manager, has launched its first UK authorised property unit trust. The Threadneedle UK Property Trust will target a 4% net yield return based on income and capital appreciation primarily through investments in direct property and property-related securities and collective investment schemes.
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PropertyEU Archive
Bucharest set for further growth
The Bucharest market delivered sharp growth in 2006, with over 100,000 m[sup]2[/sup] in office take-up over the first six months alone, and 70% of space secured on a pre-let basis. This is one of the main conclusions of a new Emerging City Winners report by Jones Lang LaSalle. The global ...
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PropertyEU Archive
Credit Suisse buys office project in Stockholm
Credit Suisse Asset Management (CSAM) has acquired the Vasterport office development in Stockholm from the Swedish property development company NCC for about EUR 72 mln.
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PropertyEU Archive
Scamp buys two London offices
Investment and development company Scamp Holdings has purchased two office buildings in London for EUR 98 mln. The properties provide some 11,600 m[sup]2[/sup] of lettable area and were acquired from Pinder Fry Investment Fund and a private client of property investment consultant Lewis & Partners. The deals reflect a 5% ...
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PropertyEU Archive
Caisse d'Epargne to set up new property fund
Natixis, the corporate and investment banking venture between two French lenders, Groupe Caisse d'Epargne and Groupe Banque Populaire, may spend more than EUR 2 bn on acquisitions, chairman Charles Milhaud told daily Les Echos in an interview.
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PropertyEU Archive
Credit Foncier eyes Hungarian expansion
Credit Foncier de France, the real estate financing arm of Paris-based Groupe Caisse d'Epargne, will make a EUR 150 mln offer for Hungary's Ella Bank, French daily La Tribune has reported, citing an unidentified source. Credit Foncier began talks with the lender a year ago, the newspaper said. It is ...
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PropertyEU Archive
Orco plans Slovakian development
Luxemburg-based Orco Property Group intends to invest about EUR 20 mln developing a modern mixed-use complex in Bratislava, the capital of Slovakia, on the Stein Brewery site acquired last December. The project, covering a 1.6-hectare area, will include residential premises, civil infrastructure and possibly a hotel.
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PropertyEU Archive
Ferrovial seeks expansion in Eastern Europe
Spanish construction company Ferrovial is considering various potential acquisitions in Eastern Europe, newspaper El Economista reported, citing unidentified sources close to the real estate group. Ferrovial's favourite countries in the area include Romania, the Czech Republic and Hungary. The group intends to expand initially in the construction and real estate ...
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PropertyEU Archive
TriGranit targets Russian real estate
Budapest-based TriGranit will spend EUR 5.5 bn developing Russian real estate and is considering an initial public offering in Moscow. 'Russia is a difficult and complicated market, but it is developing fast and opportunities are enormous', the property developer said.
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PropertyEU Archive
Pradera European Fund expands further in Italy
Property management company Pradera announced it has acquired the Tuscia shopping centre in Viterbo, central Italy, on behalf of its Pradera European Retail fund II. The exact price of the transaction was not disclosed, but head of Italy at Pradera Roberto Limetti told PropertyEU that the 'transaction is valued sat ...
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PropertyEU Archive
Land Securities in EUR 756 mln bond issue
REIT-listed Land Securities has announced it will issue EUR 756 mln worth of bonds to reduce the company's debt. The bond will pay 5.12% interest semi-annually and the issue price is 99.898% with an expected maturity date of February 7, 2034, and a final maturity date of February 7, 2036.
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PropertyEU Archive
Dawnay Day acquires Hungarian retail portfolio
In the largest sale-and-lease-back deal in the Hungarian retail market, property investment company Dawnay Day Group has purchased 22 Interfruct cash-and-carry stores from the Hungarian developer SCD Group for EUR 82.5 mln. The transaction value represents a net initial yield of 7.8%. International property consultant Jones Lang LaSalle advised Dawnay ...
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PropertyEU Archive
Alpha Real purchases French properties
Property investment and management company Alpha Real Capital's French unit has acquired a mixed use portfolio from a private investor for EUR 19 mln. The properties, acquired through Alpha Real's investment fund Alpha Pyrenees Trust, are located in Val-de-Marne, south-east of Paris. The portfolio comprises a 6,500 m[sup]2[/sup] office ...
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PropertyEU Archive
Westbury to sell off UK assets
The EUR 267 mln Westbury Property Fund is to sell off about 90% of its property portfolio to focus on its ports business and development projects. The proposed sale, still subject to shareholders' approval, will involve 20 to 22 assets, ranging from multi-let offices, high-street and out-of-town retail to industrial ...
