All Real Assets articles in Web Issue – Page 454
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PropertyEU Archive
Sjaelso says 2010 will be 'a challenging year'
Danish property company Sjaelso expects to post a pre-tax loss of DKK 450 - 550 mln (EUR 60-74 mln) in the current year, with 2010 forecast to remain 'challenging' for the property market. In a statement this week, the company said it will likely remain in negative territory next year, ...
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PropertyEU Archive
Land Secs sells Welwyn Garden City mall for EUR 53m
Land Securities confirmed on Monday that it has exchanged contracts for the sale of its long leasehold interest in The Howard Centre, Welwyn Garden City, Hertfordshire to LaSalle Investment Management for approximately £48 mln (EUR 53 mln).
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PropertyEU Archive
LaSalle confirms first acquisition for office venture fund
LaSalle Investment Management confirmed on Tuesday that it has made its first acquisition in Continental Europe with the purchase of Le Blériot office building in Suresnes, Paris for a figure close to EUR 100 mln. The deal was signalled by PropertyEU and other media sources last week.
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PropertyEU Archive
Rockspring appoints Edmund Craston as MD
Rockspring Property Investment Managers has appointed Edmund Craston as partner and managing director. Craston will work alongside CEO Robert Gilchrist on the ongoing strategic development and expansion of Rockspring's fund management platform and the day-to-day running of the business.
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PropertyEU Archive
F&C completes largest distribution deal in British Midlands
F&C Commercial Property Trust announced on Tuesday that it has acquired three warehouses at Hams Hall National Distribution Centre near Birmingham in the UK for £34.8 mln (EUR 38 mln). The investment volume reflects a net initial yield of 9%.
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PropertyEU Archive
Edissimo leases Monolithe building in Lyon
GDF Suez, advised by Jones Lang LaSalle's French office, has taken 8,500 m[sup]2[/sup] of office space in Lyon, representing the French city's largest office property leasing so far this year. The French utility will occupy the Monolithe office property, which has been developed by a joint venture of ING Real ...
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PropertyEU Archive
St David's mall in Cardiff opens major new extension
The major new extension of St David's shopping centre in Cardiff opened last Thursday after three years in construction, offering over 50 new shops in a transformed city centre. The shopping centre is owned by St David's partnership, a joint venture between Land Securities and Capital Shopping Centres. The extension ...
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PropertyEU Archive
Deutsche Pfandbriefbank sells CDOs
Munich-based Deutsche Pfandbriefbank said on Tuesday it has sold distressed Collateralised Debt Obligations (CDOs) with a notional value of EUR 759 mln to bolster its balance sheet ratios. The portfolio consists primarily of US structured finance assets. The transaction resulted in a small single-digit million euros book gain.
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PropertyEU Archive
Zublin signs lease for most of Holbeinstrasse property in Zurich
Züblin Immobilien said it has signed a 15-year lease with the Zurich office of international law firm Baker & McKenzie for roughly 4,200 m[sup]2[/sup] in its Holbeinstrasse 22-30 property.
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PropertyEU Archive
BBVA puts EUR 122m London hotel on the market
The flagship Marconi building in London has reportedly received as many as 140 expressions of interest after its administrator PricewaterhouseCoopers (PWC) put it on the market last month with a price tag of EUR 122 mln.
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PropertyEU Archive
Carlyle completes EUR 135m HQ in Madrid
Global private equity firm The Carlyle Group has announced the completion of the new headquarters for the National Registrars Association of Spain in Madrid. The 30,000 m[sup]2[/sup] building has been developed on a site that Carlyle acquired in a joint venture with Therus Invest in June 2006.
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PropertyEU Archive
Grosvenor tips London office recovery in 2010
Grosvenor Fund Management has predicted a sharp recovery in London office returns starting in 2010 and generating 12-13% per annum returns over five years. This follows capital value declines in excess of 45% since mid-2007. Rents are expected to increase by about 60% from their trough through 2011-2016, Grosvenor ...
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PropertyEU Archive
LaSalle pumps EUR 400m into UK out-of-town retail assets
LaSalle Investment Management has spent £360 mln (almost EUR 400 mln) in the last 12 months as it pursues counter-cyclical investment in the UK out-of-town retail market. LaSalle accounted for 29% of all out-of-town retail acquisitions over the last 12 months including Borehamwood Shopping Park, Silverlink Retail Park in Newcastle ...
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PropertyEU Archive
Real I.S. acquires E.on Bayern HQ project for EUR 70m
Munich-based real estate investor Real I.S. has acquired an office building which will house the Bavarian headquarters of energy company E.on for EUR 70 mln. Property adviser BNP Paribas Real Estate acted for the vendor, German developer Fay Projects. Real I.S. is to develop the project in a joint venture ...
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PropertyEU Archive
Outlet centres continue to buck recession across Europe
Outlet centre management across Europe report their centres are trading above expectations and above previous year's figures. The announcements were made at the International Council of Shopping Centers (ICSC) European Factory Outlet Conference, held for the first time this year in Milan, which has now grown to be the largest ...
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PropertyEU Archive
Echo Investment begins activity in Ukraine
Poland's Echo Investment said its first development in Ukraine will be a 100,000 m[sup]2[/sup] office park in the capital Kiev. The company has purchased 100% of the shares in Ukrainian company Yevrobudgarant for approximately $26 mln to acquire a property on Diehtiarivska street in Kiev for the project.
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PropertyEU Archive
Terrace Hill agrees forward funding with Aviva for Sainsbury store
UK developer-investor Terrace Hill Group has completed a forward funding agreement with Aviva Investors Pensions for the development and sale of the 8,600 m[sup]2[/sup] Sainsbury's food store at its retail and leisure scheme at Tindale Crescent, Bishop Auckland, County Durham, UK.
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PropertyEU Archive
UBS lifts redemption ban on German fund
UBS has lifted the year-long freeze on redemptions from its German open-ended fund UBS 3 Kontinente due to its favourable liquidity position. Since the ban on investor withdrawals was lifted on 27 October, around EUR 10 mln has flowed out of the fund.
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PropertyEU Archive
Charities Property Fund buys B&Q warehouse in Worcestershire
The Charities Property Fund in the UK, advised by Cordea Savills, has completed the purchase of a B&Q warehouse in Redditch, Worcestershire for £16.3 mln (EUR 17.7 mln). The vendor was UK real estate investment manager Prupim.
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PropertyEU Archive
Carlyle signs 30,000 m[sup]2[/sup] of new lettings in the Nordics
US private equity firm Carlyle has announced the leasing of over 30,000 m[sup]2[/sup] of commercial space in the Nordic region. Carlyle said it has secured lettings of approximately 10,000 m[sup]2[/sup] in Denmark and 16,000 m[sup]2[/sup] in Finland, which will add to a further 6,000 m[sup]2[/sup] which had already been leased ...
