All Real Assets articles in Web Issue – Page 463
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PropertyEU Archive
Russian hotel group files for bankruptcy
Russian hotel operator Heliopark Group and its property management arm Heliopark Hotel Management have filed for bankruptcy in a Moscow court after failing to repay creditors.
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PropertyEU Archive
Skanska brings pension funds together to buy projects
Construction giant and developer Skanska announced on Tuesday that it is selling two ongoing projects to a group of pension funds in one of the largest property transactions in Sweden this year. Skanska's investment in the two properties amounts to SEK 1.25 bn (EUR 122 mln). The company estimated that ...
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PropertyEU Archive
Starwood buys City Tower in London
US private investment firm Starwood Capital Group Global has confirmed that funds it manages have purchased the City Tower building in the City of London from Prupim. Financial details were not disclosed. The building at 40 Basinghall Street consists of 13,200 m[sup]2[/sup] over 21 floors, and houses some 40 ...
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PropertyEU Archive
Buyside sceptical on Continental valuations: JP Morgan
Listed real estate companies in Europe need to increase their focus on property appraisals and their disclosure as a new survey shows widespread scepticism on property valuations, according to JP Morgan. The survey carried out by property analysts Harm Meijer and Osmann Malik at JP Morgan's European Equity Research division ...
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PropertyEU Archive
RICS unveils global climate change strategy
The Royal Institution of Chartered Surveyors (RICS) unveiled its global climate change strategy on Tuesday, saying it was committed to taking concrete action globally to stress the value and potential of an emerging low-carbon property market.
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PropertyEU Archive
Ex-Hammerson France chief takes top job at Gecina
Christophe Clamageran has been appointed the new CEO of French listed property group Gecina with immediate effect, the company announced in a press release. Clamageran, 46, was previously CEO of Hammerson France, in charge of the company's activities in Continental Europe. At Gecina, he will replace Antonio Truan ...
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PropertyEU Archive
EDF takes over 10,000 m[sup]2[/sup] of office space in Carre Vert
Jones Lang LaSalle's Paris office said it has advised UK home and business energy supplier EDF on leasing 10,300 m[sup]2[/sup] of office space within Le Carre Vert office building at Levallois in the north-western suburbs of Paris.
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PropertyEU Archive
IGD's net profit drops 64% to EUR 15m
Italy's real estate investment trust IGD Siiq saw net profit drop by 64% in the first nine months of the year to EUR 15 mln from EUR 41 mln in the same period a year before.
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PropertyEU Archive
Union Investment reports 17% increase in AUM
German investment fund manager Union Investment said its assets under management (AUM) have increased 17% since the start of 2009, bringing total property fund assets to a new record of EUR 18 bn. Total assets in the four retail real estate funds and two institutional funds passed the EUR 18 ...
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PropertyEU Archive
Spanish retail pipeline to dip further in 2010: Savills
The Spanish property market has reacted quickly to the downturn by cutting retail development in 2009, property adviser Savills said at the Mapic retail real estate fair in Cannes.
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PropertyEU Archive
Realia swings to loss of EUR 43m
Spanish property company Realia swung to a net loss of EUR 43 mln in the first nine months of the year on the back of devaluations in its property portfolio. The company posted a profit of EUR 39 mln in the corresponding period a year before. Its turnover dropped by ...
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PropertyEU Archive
Delancey acquires Royal Mint Court for EUR 57m
The Crown Estate has exchanged contracts to sell the freehold interest in Royal Mint Court, London, to a fund advised by Delancey for £51 mln (EUR 57 mln). Royal Mint Court, one of the largest in the City, comprises around five acres on the site of the former Royal Mint ...
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PropertyEU Archive
Time-Hotels finalises acquisition of 9 hotels in France
Time-Hôtels, part of La Financiere Patrimoniale d'Investissement group, has completed the acquisition of Compagnie Générale Hôtelière, the owner of a portfolio of nine hotels in France, French business newspaper Business Immo has reported. The financial details of the transaction were not disclosed. The portfolio, which was sold by Sopalia Compagnie ...
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PropertyEU Archive
Adagio City opens first apartment hotel in Germany
Adagio City Aparthotel, a joint ventre between French hotel chain Accor and holiday group Pierre & Vacances, has opened an establishment in Berlin, its first in Germany. The hotel, located near the Kurfürstendamm high street, comprises 133 apartments.
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PropertyEU Archive
Jan Doets joins US industrial developer IDI as adviser
Jan Doets, a former chairman of ING Global Real Estate, has been recruited by US industrial property developer IDI as an adviser to the firm's investment management group. 'Jan Doets' experience as the former director of ING Global Real Estate from 1996 to 2005 provides extra depth to advise in ...
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PropertyEU Archive
MAB and Neinver announce joint venture at Mapic
MAB Development and the Spanish outlet operator Neinver have signed an agreement in principle at the Mapic retail trade fair in Cannes to cooperate on the development of factory outlet centres (FOCs) in France and Germany. The combination of Neinver's knowledge of management, concept design and leasing in FOCs and ...
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PropertyEU Archive
LaSalle appoint Uwe Rempis head of asset management in Northern Europe
Uwe Rempis has been appointed head of Asset Management Northern Europe of LaSalle Investment Management. Uwe Rempis has been involved both in asset management and acquisition for a number of LaSalle's German and European funds in Northern Europe. Based in Munich Uwe reports to Insa von Jürgensonn, head of Portfolio ...
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PropertyEU Archive
Robert Bonwell named CEO of JLL's EMEA retail business
Jones Lang LaSalle has appointed Robert Bonwell to the newly created post of CEO of the broker's EMEA Retail Business. The move is part of a string of appointments designed to strengthen the EMEA management board and 'take advantage of opportunities as the region emerges from the recession', the company ...
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PropertyEU Archive
CEE retail markets in restructure and recovery mode: JLL
The five Central and Eastern European economies have been far from immune to the effects of the economic crisis, but they are expected to grow and gather momentum from 2010 onwards, according to the report 'CEE Retail in 3D' published by Jones Lang LaSalle at Mapic in Cannes.
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PropertyEU Archive
Shopping centre rents highest in Russia and UK: JLL
Russia and the UK command the highest prime shopping centre rents in Europe at EUR 2,000 per m[sup]2[/sup] per annum, according to new research released on Wednesday at Mapic by Jones Lang LaSalle.
