All Real Assets articles in Web Issue – Page 45
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PropertyEU Archive
Berlin property market hits investment record
Investment in Berlin's property market reached a record EUR 4.3 bn last year, more than double the 2005 figure, according to a report published Thursday.by CB Richard Ellis. Foreign investors were the biggest buyers, ploughing a record EUR 3.3 bn into the markt and accounting for 76% of the total ...
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PropertyEU Archive
Oak, Skanska to build Europe's largest leisure development
Aim-listed Oak Holdings announced it has received planning approval for Europe's largest covered leisure development in Rotherham, south Yorkshire, England. The property development and consultancy company will team up with Skanska's UK unit, one of Europe's leading construction services groups, in the construction of YES!, a EUR 530 mln leisure, ...
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PropertyEU Archive
Corio to refurbish French and Dutch malls
Property investment company Corio will invest EUR 67 mln in the redevelopment of 't Circus shopping centre in Almere, central Netherlands, and the Cote de Nacre mall in Caen, northern France.
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PropertyEU Archive
Prupim seals second Dutch property deal
British property manager Prupim has acquired a landmark office building in the central Dutch town of Amersfoort for EUR 47.5 mln on behalf of the M&G European Property Fund. The complex, which houses the headquarters of supermarket supplier Schuitema, was bought from Mondia Investments and represents Prupim's second deal in ...
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PropertyEU Archive
The Gherkin sold in largest UK office deal
Private investment bank Evans Randall has teamed up with German fund manager IVG Asticus to buy a 50% stake in insurer Swiss Re's Gherkin headquarters, located in the centre of London's financial district, for EUR 906 mln.
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PropertyEU Archive
MSREF to 'double its German portfolio'
MSREF intends to at least double its EUR 4 bn property portfolio in Germany in 2007, Morgan Stanley's executive director Boris Schran told German financial newspaper Boersen Zeitung. Schran said the main driver behind expansion in this country was the attractive yield compared to other locations like London.
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PropertyEU Archive
Hilton expands in Germany
Hilton International plans to open up to 40 new hotels in Germany over the next two to three years as part of its European expansion strategy. The hotel group is looking at 15-20 locations for its upmarket Garden Inn format and a similar number for its lower-budget Hampton accommodations, senior ...
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PropertyEU Archive
FCC set for Romanian property venture
Spanish developer FCC is keen to enter the Romanian real estate market this year, according to its European manager Alcibiades Lopez Peron. After having carried out solely infrastructure projects in the country over the last two years, FCC now plans to develop several real estate projects and is already in ...
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PropertyEU Archive
Hypo RE Bank issues €1.5 bn bond
Hypo Real estate Bank has launched a €1.5 bn Senior Unsecured Benchmark bond. It carries a variable coupon of three-months-Euribor +0.125% and matures in three years. The reoffer-spread has been set at +20 bp over three-months-Euribor and the reoffer price has been fixed at 99.786%.
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PropertyEU Archive
EOP rejects $41 bn Vornado bid
Equity Office Properties Trust has rejected a $41 bn offer from Vornado, saying a $38.3 bn bid by rival Blackstone is less risky for shareholders. Equity Office said a sale to New York-based Vornado would take months to complete while a buyout by Blackstone could be completed within days.
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PropertyEU Archive
Skanska acquires Stockholm development
Swedish property group Skanska has acquired a plot of land for residential development in Stockholm from construction company Trelleborg Group. The purchase price will amount to about €33 mln and will be based on the assessed development level. Skanska said it will initially pay €11 mln, raising this amount to ...
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PropertyEU Archive
CBRE buys into Portuguese company
Property adviser CB Richard Ellis is to acquire a 30% stake in Portuguese hotel and leisure property specialist Neoturis. Financial details were not disclosed. CBRE has secured the right to buy the remaining shares at a later date.
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PropertyEU Archive
Castellum snaps up Swedish commercial portfolio
Castellum has acquired a fully-let portfolio of five properties spread over the port city of Halmstad in southwest Sweden, for close to €24 mln. The lettable area of the portfolio amounts to about 30,000 m2, of which 9,300 m[sup]2[/sup] consists of retail, 6,700 m[sup]2[/sup] of office and 14,000 m[sup]2[/sup] of ...
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PropertyEU Archive
City office rates set to rise further
Office rents in London's financial district are expected to increase by more than 10% in 2007, fuelled by a surge in demand from lawyers and accountants, according to research by estate agent chain DTZ.
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PropertyEU Archive
Sainsbury's sale rumours confirmed
Private equity firms CVC, Kohlberg Kravis Roberts and Blackstone have admitted they are in the preliminary stages of assessing a possible offer for the UK's third-biggest supermarket group Sainsbury's. Market rumours that Sainsbury's was a takeover target boosted the company's shares by 18% to 526.5p on Friday, valuing the supermarket ...
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PropertyEU Archive
Dutch office market sees strong demand
The Dutch office market was characterised by increased demand and falling supply last year, according to a survey published Friday by property adviser Jones Lang LaSalle.
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PropertyEU Archive
Kazakhstan developer plans LSE listing
Kazakhstan property company Chagala is planning a £100 mln flotation on the London Stock Exchange in a bid to raise capital for further expansion. Run by British-born ceo Timothy Abson and Spaniard Javier del Ser, Chagala specialises in building western-style hotels and serviced flats for the oil industry based around ...
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PropertyEU Archive
Development Securities, Miller join forces in UK project
UK-based Development Securities has teamed up with the urban regeneration specialist Centros Miller to redevelop the Southern Gateway site in Crawley, south of England, for a residential-led, mixed-use scheme. The revamp includes a 18,580 m[sup]2[/sup] scheme on a 0.9-hectare site, including retail units on the ground floor and six storeys ...
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PropertyEU Archive
Newomij launches German residential fund
Dutch private property company Newomij is to start investing in German residential property via a new fund, Dutch Real Estate Investments. Based in Cologne, the fund aims to build up a portfolio worth EUR 200 mln over the next five years. The fund will invest mainly in existing and new ...
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PropertyEU Archive
Fund managers switch to office space
Property fund managers are shifting their attention to offices at the expense of shops and shopping centres, according to figures from Investment Property Databank (IPD). For the first time in five years, offices were more in demand than retail last year amid fears that some investors have paid too much ...
