All Real Assets articles in Web Issue – Page 470
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PropertyEU Archive
State Street to acquire European fund administrator
New York-listed State Street Corporation is acquiring Mourant International Finance Administration (MIFA) to expand its global fund administration and alternative servicing capabilities.
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PropertyEU Archive
Rockspring wins asset management contract in Hungary
UK-based Rockspring Property Investment Managers has been appointed to provide asset management consultancy for a portfolio, mainly comprising retail assets, in Hungary on behalf of Anglo Irish Bank.
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PropertyEU Archive
Drees & Sommer to manage construction of Ziraat Bank building in Istanbul
German project management specialist Drees & Sommer is to co-ordinate the construction of the office high-rise for the Turkish Ziraat Bank in Istanbul. Drees & Sommer won the tender for project management services against international competition and the contract was signed in Ankara at the beginning of November.
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PropertyEU Archive
Former Citi property boss sets up UK hotel group
Akkeron Group, an investment business formed by a former head of property at Citi's investment bank, has launched a new hotel platform.
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PropertyEU Archive
Helical contracts Skanska to build Polish shopping centre
Helical Poland, a subsidiary of London-listed real estate company Helical Bar, has contracted the Polish arm of construction giant Skanska to build a shopping centre in southeast Poland. The contract value is PLN 153 mln (about EUR 37 mln). The new Turawa shopping centre in Opole, situated between Wroclaw and ...
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PropertyEU Archive
EPRA to work more closely with pension funds
The Europe Public Real Estate Association (EPRA) is to pay more attention to pension funds that invest in property equities but remain an under-represented group within the association.
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PropertyEU Archive
H&M signs up for Leto mall in St Petersburg
Russian real estate company Sistema-Hals and French developer Apsys Group have announced that a H&M fashion store will occupy 1,700 m[sup]2[/sup] over two floors at their Leto shopping centre project in St Petersburg. The retailer entered Russia at the beginning of 2009.
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PropertyEU Archive
WGF purchases German portfolio for EUR 100m
Düsseldorf-based investor WGF has acquired a major residential and commercial real estate portfolio in Germany for about EUR 100 mln. The company said it was the 8th largest German residential property transaction so far in 2009.
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PropertyEU Archive
Hines fund eyes EUR 200m of acquisitions in Europe
US property developer Hines is in the process of raising new equity for its EUR 500 mln European core property fund to finance an acquisition drive during the first half of 2010.
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PropertyEU Archive
Sparkassen opens EUR 55m Bratislava hotel
Sparkassen Immobilien opened its Austria Trend Hotel Bratislava at the end of November following 14 months of construction. The project, offering 200 rooms, will involve an investment of EUR 55 mln for the Vienna-based property developer.
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PropertyEU Archive
Aberdeen fund buys office property in Stavanger
Aberdeen Property Investors (API) said that its Property Nordic Fund I has acquired a fully-let office development in the Norwegian oil town of Stavanger for around EUR 16 mln. The office project will provide a gross lettable area of 6,500 m[sup]2[/sup] and 150 parking spaces on completion.
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PropertyEU Archive
Deka acquires Freshfields House in Hamburg
German real estate investment group Deka Immobilien has acquired Freshfields House in Hamburg from the global private equity firm The Carlyle Group.
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PropertyEU Archive
VTB Bank takes controlling stake in Sistema-Hals
Russian bank VTB announced on Thursday that it has exercised a call option to acquire 31.5% of the shares of Sistema-Hals. The bank acquired the shares from the Russian real estate firm’s parent company AFK Sistema for a symbolic price of thirty roubles (about 67 euro cents).
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PropertyEU Archive
Orco's financing talks with Colony Capital fall through
Troubled Central European developer Orco Property Group said that discussions with Colony Capital about a EUR 80 mln equity injection have terminated as Orco failed to secure a refinancing agreement with its banks. Orco started negotiating with the American investment company last April.
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PropertyEU Archive
GE RE enters partnership for office complex at Paris-Charles de Gaulle
Aéroports de Paris (AdP) and GE Capital Real Estate France, through its subsidiary Fonciere Ariane, have signed a partnership agreement in relation to the Continental Square office complex project at Paris-Charles de Gaulle Airport.
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PropertyEU Archive
JM sells two nursing home projects in Stockholm
Swedish real estate developer JM has sold two senior housing projects in Stockholm to KPA, part of the Folksam Group, and Sockholm-based property company Diligentia. The total purchase price is SEK 209 mln (EUR 20 mln), the majority of which was received in November. The company said that it has ...
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PropertyEU Archive
UK sees real estate debt defaults double in H1: report
The value of UK commercial real estate debt in default or in breach of key lending agreements more than doubled to about £30 bn (EUR 33..15 bn) in the first six months of the year, according to a report in the Financial Times.
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PropertyEU Archive
Orion closes fund above target at EUR 1.28b
Orion Capital Managers has announced the final closing of capital raising for its Orion European Real Estate Fund III. The total of EUR 1.28 bn in commitments is higher than the original equity target set by the fund manager.
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PropertyEU Archive
Henderson UK Retail Warehouse Fund and USS seal £100m in deals
Henderson Global Investors' UK Retail Warehouse Fund has completed two transactions totalling more than £100 mln (EUR 110 mln) with Universities Superannuation Scheme (USS).
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PropertyEU Archive
Brokers see 2009 investment volume reaching EUR 60-80b
The total volume of European real estate investment volume in 2009 will range between EUR 60-80 bn, according to a group of international brokers polled by PropertyEU.
