All Real Assets articles in Web Issue – Page 445
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PropertyEU Archive
Hypo Real Estate squeezes out minority shareholders
Hypo Real Estate’s annual general meeting on Monday passed a resolution on the squeeze-out of its minority shareholders, who will receive a cash settlement of EUR 1.30 per no-par value share. The squeeze out was demanded by state-owned German Financial Markets Stabilisation Fund (SoFFin), which currently holds 90% of HRE’s ...
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PropertyEU Archive
OVG to redevelop IVG office in Frankfurt
Green Dutch developer OVG is to redevelop IVG's vacant Triton office in Frankfurt, OVG's CEO Coen van Oostrom announced Tuesday at EXPO REAL. The redevelopment of the 25,000 m[sup]2[/sup] building marks OVG's first step in the German market as an office developer. Earlier this year, it brokered the biggest leasing ...
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PropertyEU Archive
Colliers CRE sees H1 revenues slide, plans capital raise
UK commercial real estate consultant Colliers CRE saw revenues drop by 32% to £27 mln (EUR 29 mln) in the first six months of 2009 from £40 mln a year before. The company said that 'market conditions are among the most difficult faced by the industry given the virtual standstill ...
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PropertyEU Archive
EXPO REAL 'higher quality' as attendance drops 15%
The 12th edition of the EXPO REAL property fair in Munich registered a 15% decline in both visitor and exhibitor numbers, the organising firm Messe München announced on Wednesday.
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PropertyEU Archive
Sonae Sierra to open EUR 265m mall near Frankfurt
Sonae Sierra will open its Loop5 shopping centre in Weiterstadt near Frankfurt on 9 October, the second major project in Germany the shopping centre specialist has developed with French investor Foncière Euris. The mall comprises 56,000 m[sup]2[/sup] of GLA and represents an investment of EUR 265 mln.
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PropertyEU Archive
Allianz RE aims to boost portfolio to EUR 30bn
Allianz's real estate arm plans to increase its portfolio to around EUR 30 bn over the next four to five years following the German insurance group's decision to raise its allocation to property from 3% to 6%. Stefan Brendgen, CEO of Allianz Real Estate Germany, said during an Expo Real ...
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PropertyEU Archive
CBRE Investors sells London property for EUR 32m
CB Richard Ellis Investors said it has sold Mutual House on London's Regent Street for £30 mln (EUR 32 mln) to a private overseas investor.
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PropertyEU Archive
Ashtenne Industrial fund refinances EUR 395m of debt
Aviva Investors and Warner Estate said on Tuesday that their Ashtenne Industrial Fund has refinanced its existing £364 mln (EUR 394 mln) loan facility for a further four years with Royal Bank of Scotland and the Lloyds Banking Group. The fund has also raised £45 mln (EUR 49 mln) of ...
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PropertyEU Archive
Jernhusen snaps up Centralhuset in Sweden for EUR40m
Swedish government-owned property company Jernhusen has purchased the Centralhuset mixed-use asset in Gothenburg, Sweden from German fund Internationales Immobilien-Institute GmbH for approximately EUR 40 mln. The buyer was represented by real estate adviser Savills.
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PropertyEU Archive
Hercules gains bondholder consent to CMBS restructuring
Asset management company Schroders and UK REIT British Land announced on Tuesday that bondholders in the REC 4 retail park fund have unanimously approved proposals to restructure the terms of the £1 bn (EUR 1.08 bn) Commercial Mortgage Backed Security loan facility made to the Hercules Unit Trust.
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PropertyEU Archive
Rhein-Galerie mall receives DGNB gold certificate
The Rhein-Galerie shopping centre in Ludwigshafen has been awarded a preliminary gold certificate by the German Sustainable Building Council (DGNB) during the EXPO REAL fair held this week in Munich. The mall, which is part of Union Investment Real Estate's portfolio and which was developed by ECE, combines some 30,000 ...
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PropertyEU Archive
Multi’s Espacio Coruña opening in October
Multi Development Spain has announced it will open Espacio Coruña, a three-storey shopping and leisure project, on 20 October 2009. Located in the new residential area of Someso, next to the Elviña and Zapateira University, the 41,000 m[sup]2[/sup] development consists of a Mercadona supermarket, as well as retail units including ...
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PropertyEU Archive
Sonae Sierra presents three new projects at EXPO REAL
Portuguese shopping centre specialist Sonae Sierra showcased three projects in Romania, Germany and Italy at the EXPO REAL trade fair in Munich this week. The projects are in various phases of completion and each represents specific challenges in terms of development and construction, the company said.
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PropertyEU Archive
Serdika Center in Sofia already 90% leased
The construction of one of the biggest shopping and office centers in Southeastern Europe, the Serdika Center in Sofia, is running at full speed, German developer ECE reported in a press release. More than 90 % of the rental area is already leased out, it added.
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PropertyEU Archive
Aberdeen Property Investors 'ready to strike'
Aberdeen Property Investors is ready to capitalise on the current favourable market conditions for equity-rich players, Alessandro Bronda, head of investment strategy at the company, said in an interview at the EXPO REAL fair in Munich.
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PropertyEU Archive
Max Property finalises Industrious acquisition
Max Property Group, the UK real estate investment firm backed by entrepreneur Nick Leslau, said it has completed the acquisition of the Industrious portfolio from the receivers of the Industrious group for £227 mln (EUR 246 mln), including all acquisition costs. The purchase price is lower than stated earlier as ...
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PropertyEU Archive
Cross-border investment activity picking up again - Colliers
Austrian, British, Dutch and German investors in particular are becoming increasingly international in their acquisitions, accounting for a large proportion of activity in Central and Eastern Europe, according to the latest EMEA report from real estate consultant Colliers.
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PropertyEU Archive
Paris La Defense goes on the attack
French Deputy Prime Minister Patrick Devedjian provided some Gallic flair to the last day of Cityscape Dubai 2009, delivering a half-hour presentation on Paris La Defense, which aims to become the new commercial capital of Europe.
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PropertyEU Archive
Yields bottom out in Barcelona office market
Yields for prime office assets in the Barcelona market have bottomed out over the last nine months after rising from 4% in Q3 2007 to 6.25% in Q1 2009, according to the latest Barcelona Office Report by international real estate advisor Savills. This has generated 'a window of opportunity for ...
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PropertyEU Archive
MAB last bidder for Moers shopping centre
Dutch developer MAB Development is the last remaining bidder for the shopping centre at the Kö Royal Court in Moers, Thomas Daily reported on Friday. Thorsten Müller, spokesperson for mfi Management für Immobilien, which had been the competing bidder up to now, confirmed a report in the daily newspaper Neue ...
