All Real Assets articles in Web Issue – Page 46
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PropertyEU Archive
Polis purchases property near Milan
Real estate fund Polis has acquired a mixed-use complex from Italian Societa Alfa Logic and Holding Cinque V in Gorgonzola, near Milan, for €40.4 mln. The complex includes three logistics premises and an office building providing a gross lettable area of 47,800 m[sup]2[/sup]. The initial yield of this transaction comes ...
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PropertyEU Archive
Ablon raises EUR 132 mln in IPO
Hungarian real estate developer Ablon has raised EUR 132 mln in an initial public offer (IPO) in London designed to help fund expansion. Ablon said in a statement it has sold 35 million shares at EUR 3.78 each to institutional investors, which amounts to 33% of the company's share capital.
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PropertyEU Archive
Vivum, Matrix Immobilien to invest EUR 20 mln in German mall
Germany-based Vivum and Matrix Immobilien will invest about EUR 20 mln in a shopping centre located in Waiblingen, northeast of Stuttgart, Germany. The mall provides some 6,500 m[sup]2[/sup] of retail space and 219 underground parking spaces, German newspaper Immobilien Zeitung reported. The occupancy rate of the retail development is currently ...
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PropertyEU Archive
Land Securities buys PPP firm for EUR 798 mln
Land Securities Trillium (LST), the property partnership unit of British property giant Land Securities, has completed the acquisition of the specialist public private partnership (PPP) firm Secondary Market Infrastructure Fund (SMIF) for £527 mln (EUR 798 mln). The sellers were STAR Capital Partners, Halifax Bank of Scotland and AMP Capital. ...
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PropertyEU Archive
IVG buys Gherkin office for EUR 950 mln
IVG has confirmed it acquired the London office building at 30 St Mary Axe for EUR 950 mln, in a 50/50 joint venture with Evans Randall. The statement by IVG follows market rumours last week about the German property fund's interest in the landmark office building known as the ...
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PropertyEU Archive
Paris stays ahead of London in investment league: ULI
Paris has beaten London for the second year in a row to retain first place in terms of European property development and investment prospects for 2007, according to a report launched at the Urban Land Institute (ULI) European conference in the French capital on Tuesday.
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PropertyEU Archive
Sonae Sierra strengthens its presence in Algarve region
Portuguese shopping mall specialist Sonae Sierra has acquired two retail centres in the Portuguese cities of Albufeira and Portimao for EUR 32 mln. The investment was made through a 50/50 joint venture with GREP, a fund managed by the property group Grosvenor.
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PropertyEU Archive
Vornado sweetens offer as EOP battle continues
Vornado, the second-largest real estate investment trust (REIT) in the US, has offered to pay the cash portion of its $23.2 bn (EUR 17.9 bn) bid for its larger peer Equity Office Property (EOP) up front after EOP's board decided to continue to back the takeover bid by private equity ...
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PropertyEU Archive
Rodamco purchases office buildings
Rotterdam-headquartered Rodamco has acquired six office buildings in the Leidsenhage shopping centre in the Dutch city of Leidschendam from IEF Capital, a joint venture between Bouwfonds Asset Management and Inflation Exchange Fund (IEF), for EUR 24 mln.
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PropertyEU Archive
ProLogis set to buy Parkridge
Prologis, the world's largest owner, manager and developer of distribution facilities, is close to completing the EUR 800 mln purchase of John Cutts' Parkridge, in what it said to be Europe's biggest industrial property takeover, newspaper Property Week has reported.
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PropertyEU Archive
HSBC confirms HQ sell-off plan
HSBC, Europe's largest bank by market value, has confirmed it plans to sell its London headquarters in Canary Wharf through a sale-and-leaseback agreement. The building is expected to fetch up to £1 bn (EUR 1.5 bn), making it the most expensive single office building in Britain.
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PropertyEU Archive
Zlote Tarasy opens its doors this week
Dutch-based ING Real Estate has appointed international property advisor Cushman & Wakefield to manage Zlote Tarasy, the 225,000 m[sup]2[/sup] shopping mall in Warsaw. After a string of delays, the mixed-use complex will open its doors on February 7.
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PropertyEU Archive
Report highlights 'Eastern promise' and 'Teutonic triumph'
Cities in the emerging markets of central and eastern Europe as well as secondary cities in established markets are set to benefit from the excess of investment in European commercial property this year, a joint report by the Urban Land Institute (ULI) and PricewaterhouseCoopers has suggested.
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PropertyEU Archive
Hypo RE finances Luxembourg Plaza
Hypo RE Bank International has provided EUR 52.5 mln of senior debt to the Czech Orco Property for the financing of the Luxembourg Plaza building. This fully-let complex ranks among one of the most modern office buildings in Prague and provides 22,000 m[sup]2[/sup] of Class A office space, together with ...
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PropertyEU Archive
Terrace Hill gets go-ahead for Maidenhead offices
AIM-listed property group Terrace Hill has been granted planning permission to build two office buildings at the Vanwell business park in the south-eastern town of Maidenhead in England. Completion of this two Class A office buildings is scheduled for March 2008.
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PropertyEU Archive
MFI to plough EUR 1 bn into Turkish retail
Essen-based management company Management fur Immobilien (MFI) is planning to invest up to EUR 1 bn in the Turkish retail market, the company said during a press conference, attended by Turkish prime minister Recep Tayyip Erdogan.
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PropertyEU Archive
GIC acquires 10% of Brixton
Britain's largest mortgage and savings provider HBOS has sold half of its stake in property company Brixton to avoid running foul of tax rules for real estate investment trusts (REITs). Brixton said in a statement that HBOS has cut its stake from 20.6% to 10.2%, through the sale of about ...
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PropertyEU Archive
Avadis buys Swiss assets for EUR 137 mln
Swiss pension fund BLPK has sold 23 properties valued at EUR 137 mln to asset manager Avadis. The deal involved BLPK obtaining an interest in Avadis equal to the value of the assets sold. The assets are located in and around the Swiss city of Basel, north-west of the country.
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PropertyEU Archive
Ascencio in EUR 45 mln IPO
Ascencio, a Belgian commercial property real estate fund, is to sell EUR 45.6 mln worth of shares in an initial public offering, researchers at merchant bank Kempen & Co have said. Ascencio will offer some 894,000 existing shares, about 30% of the total, at EUR 47 to EUR 51 a ...
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PropertyEU Archive
Acciona snaps up Barcelona stadium mall
Spanish property company Acciona Inmobiliaria has acquired 100% of the retail space at the Real Club Deportivo Espanyol stadium, currently under development in Barcelona. The shopping centre, sold by property companies Grupo Lar and Grosvenor, is scheduled for completion in 2009, fifteen months after the opening of the stadium. Grupo ...
