All Real Assets articles in Web Issue – Page 462
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PropertyEU Archive
Aker acquires development land from SPDE for EUR 44m
Scandinavian Property Development (SPDE) announced on Monday that engineering and construction services group Aker Solutions has exercised an option to purchase two of its commercial land properties in Norway for a total of NOK 366 mln (EUR 44 mln).
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PropertyEU Archive
European bank take-up down 53% as London bounces back: C&W
European financial capitals can expect subdued performance in terms of banking office take-up as the wider sector remains on the cusp of significant change, according to Cushman & Wakefield's new European Banking Briefing. The retail banking sector in the UK can also expect to undergo a sea change over the ...
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PropertyEU Archive
PEPR to launch EUR 61m preferred equity offer
Euronext-listed Prologis European Properties, one of Europe's largest owners of modern distribution facilities, said it intends to raise EUR 61 mln of new equity in the form of fully underwritten perpetual convertible preferred units. PEPR intends to use the net proceeds from the offering to reduce outstanding debt and for ...
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PropertyEU Archive
IVG acquires multi-let property in Brussels CBD
IVG, represented by real estate advisor Savills, has acquired a multi-let office building in Brussels CBD for an undisclosed figure. The building totals 4,400 m[sup]2[/sup] and is located at Rue Guimard 7 in the vicinity of Square Frere Orban behind Avenue des Arts.
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PropertyEU Archive
Milan court approves Risanamento's restructuring plan
A Milan court has given the long-awaited go-ahead for the restructuring of Italian troubled real estate developer Risanamento. The court ruled that a EUR 500 mln debt restructuring programme, combined with the issue of EUR 350 mln of convertible bonds, was sufficient to keep the company afloat for the coming ...
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PropertyEU Archive
European outlet lobby association to launch at Mapic
A new organisation representing retailers and developers active in the growing outlet sector in Europe will be launched at the Mapic retail real estate fair in Cannes this week.
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PropertyEU Archive
Cordea Savills buys Aurealys building in Lyon
Pramerica, the property arm of US financial group Prudential Financial, has sold the Auréalys office building located in the French city of Lyon to Cordea Savills' European Commercial fund. The financial details of this transaction were not disclosed. The property was owned by IVG's Europroperty Fund, which is managed by ...
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PropertyEU Archive
Klepierre boosts presence in Northern Italy
French listed property company Klépierre has signed an agreement with the Italian group Finiper to acquire an additional 21.3% interest in IGC, the owner of nine shopping centres located in the vicinity of Milan. The EUR 76.5 mln acquisition should be completed by year-end, the Paris-listed company said.
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PropertyEU Archive
Hammerson France boss resigns
Hammerson announced on Monday that Christophe Clamageran, managing director of Hammerson France, has resigned from the board with immediate effect. He will be taking up a senior position at a major quoted French real estate company.
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PropertyEU Archive
UK posts third monthly capital growth: IPD
UK commercial property has posted the third consecutive month of capital growth in October, at 1.9%, according to the IPD UK Monthly Index. The year-to-date capital growth is now -10.5%. Since the market's upturn, which began modestly in August, UK commercial property has produced a compounded 3.2% capital growth. This ...
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PropertyEU Archive
Multi Development opens Czech shopping centre
Multi Development has celebrated the opening of Forum Ústí nad Labem in the Czech Republic. A large crowd of visitors attended the opening of the largest shopping and leisure centre in the region on 12 November 2009.
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PropertyEU Archive
Menno Maas leaves ING Real Estate Development
Menno Maas is stepping down as CEO of ING Real Estate Development in January 2010. His departure is a joint decision by ING and Maas himself, according to reliable sources. ING announced in a press release on Monday that Maas is leaving on 31 January 2010 'to pursue his career ...
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PropertyEU Archive
Eurocommercial buys two shopping centres for EUR 100m
Amsterdam-listed Eurocommercial Properties has announced it is acquiring two existing shopping centres in France and Italy for a total of EUR 100 mln, reflecting a combined net yield of 6.5%.
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PropertyEU Archive
Horus Capital sells Moscow properties for $270m
Russian lender Binbank and Bin Group have acquired a number of office and retail buildings in Moscow from UK-based Horus Capital for a reported sum of $270 mln (EUR 180 mln). According to a news report in Russian paper Commercial Real Estate, the two investors have purchased half of Horus ...
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PropertyEU Archive
WestImmo places second EUR 500m Pfandbrief
Westdeutsche ImmobilienBank (WestImmo) has placed its second EUR 500 mln benchmark mortgage Pfandbrief on the capital market. The coupon amounts to 2.5 %. The Pfandbrief runs until June 2013 and the yield mark-up is 23 basis points above swap-mid.
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PropertyEU Archive
Aberdeen halts withdrawals from Degi International fund
Aberdeen Immobilien (formerly Degi) has suspended both the redemption and issuance of fund shares for its Degi International fund with immediate effect, the fund manager said on Tuesday. Issuance of Degi Europa fund shares has also been suspended. Degi said the measure had been taken to safeguard ongoing business operations ...
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PropertyEU Archive
Risk aversion remains across Europe: DTZ
Commercial real estate investors across Europe show little willingness to move up the risk curve, according to DTZ's latest European Quarterly report. Over the third quarter, commercial real estate investment activity remained focused on the main liquid and transparent markets of Western Europe.
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PropertyEU Archive
Minerva rejects unsolicited offer from South African investor
London-based developer Minerva has rejected an unsolicited takeover offer from KiFin, a company controlled by South African businessman Nathan Kirsh. Minerva's board described the 50 pence per share offer as 'an opportunistic and unwelcome attempt to acquire Minerva at a price which significantly undervalues the company and its future prospects'.
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PropertyEU Archive
Estcapital appointed to manage Venice's property fund
The management arm of Italy's Estcapital has won an auction organised by the municipality of Venice for the management of some of the city's property assets. A partnership of SGR Estcapital and Unicredit Corporate Banking has emerged ahead of 11 bidders including Pirelli Real Estate for the creation and the ...
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PropertyEU Archive
Redevco expands focus to Asia
Retail property specialist Redevco has started to explore investment opportunities in Asia following its expansion in recent years in Eastern Europe. Redevco said China and India in particular are enjoying rapid economic expansion in Asia. Initially, the firm will focus on participating in new development projects in major cities in ...
