All Real Assets articles in Web Issue – Page 477
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PropertyEU Archive
UBS to liquidate $6bn real estate fund - report
Swiss bank UBS plans to dismantle a $6 bn (EUR 4 bn) real estate fund by selling property assets and returning the proceeds to the fund's investors. The Zurich-based lender believes the sale to be in the best interest of investors because it creates liquidity quickly, while preserving value, Dow ...
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PropertyEU Archive
Warburg-Henderson acquires office property in London for EUR 83m
Warburg-Henderson has carried out its fourth acquisition in the UK this year with the purchase of an office property in London for £74 mln (EUR 83 mln).
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PropertyEU Archive
Peab sells Swedish Television building in Malmo
Swedish listed property company Peab said it has sold the Swedish Television (SVT) office building at Varvsstaden in Malmö, southern Sweden to Wihlborgs Fastigheter for around SEK 160 mln (EUR 15 mln). The sale follows closely on the completion of the building, which will house the new office of broadcaster ...
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PropertyEU Archive
Immofinanz and Immoeast set to merge
Austrian-listed property group Immofinanz is to merge with its CEE subsidiary, Immoeast, as the final element of the restructuring of the group.
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PropertyEU Archive
DIC Asset extends 10,000-m[sup]2[/sup] lease with Axa in Wiesbaden
Frankfurt-based DIC Asset has annnounced that it has extended an existing lease agreement with insurance company AXA Service in relation to an office building on Wiesbaden's City-Ring ahead of time. Cologne-based Axa Service has extended its lease on the 10,000 m[sup]2[/sup] of office and storage space in the Hessian capital ...
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PropertyEU Archive
Kungsleden sells four properties for EUR 11m
Listed Swedish property company Kungsleden is selling four commercial properties for a purchase price of about SEK 112 mln (EUR 10.7 mln), excluding transaction costs. The total sales price corresponds to book value and is about SEK 4 mln below acquisition cost.
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PropertyEU Archive
Office development pipelines across CEE fall by 30% since end-2008
The significant reduction in Central and Eastern Europe's (CEE) office development pipeline since the end of 2008 should create more investor-friendly conditions in certain markets, according to new CB Richard Ellis research.
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PropertyEU Archive
Mirland agrees new $30m loan with Uniastrum Bank
Mirland Development Corporation, a leading residential and commercial property developer in Russia, announced on Friday that it has entered into a loan agreement with CB Uniastrum Bank, under which the bank will extend a non-revolving credit facility of up to $30 mln.
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PropertyEU Archive
Citycon sells EUR 40m in bonds
Finnish property company Citycon said it has sold EUR 40 mln worth of bonds to investors to finance its development projects and potential acquisitions. 'The bond issue demonstrates Citycon's ability to raise long-term financing on competitive terms for its investments. The bond gathered subscriptions from some 400 investors and the ...
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PropertyEU Archive
Mirax finds partner for $400m project in Moscow
Russia's Tashir Group will partner with Mirax to develop a $400 mln office and residential building next to Mirax Plaza on Moscow's Kutuzovsky Prospekt, Russian newspaper Kommersant. According to the paper, Tashir will receive 55% of the development in exchange for financing the project next to Moskva-City.
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PropertyEU Archive
TAG acquires residential portfolio for EUR 43
Hamburg-based property group TAG Immobilien has acquired 787 residential units for a total of EUR 43 mln. The transaction increases the firm's residential portfolio by 51,300 m[sup]2[/sup] or almost 20%. TAG said the deal is being financed by assuming existing bank debt as well as the non-cash issue of 2.4 ...
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PropertyEU Archive
AEW-Mountgrange jv sells retail warehouse at 7%
A joint venture vehicle managed by AEW Europe and Mountgrange Investment Management has completed the sale of a B&Q retail warehouse in Nelson, Lancashire, UK. The property was acquired by IRP Holdings, a fund run by F&C REIT, at a yield of 7%. The sale follows a successful rent review ...
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PropertyEU Archive
Corio in talks to acquire part of Multi's portfolio
Corio revealed on Friday that it has entered exclusive talks with international inner-city retail developer Multi Corporation to acquire part of Multi's portfolio. The statement confirms longstanding market rumours of talks between the two Netherlands-based companies.
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PropertyEU Archive
Major European markets stabilise ahead of expectation: DTZ
European capital city rent indices are indicating stabilisation across all sectors, according to DTZ Research. The Retail and Industrial sectors are returning positive growth figures of 0.4% and 0.13% respectively for Q4 2009, and office markets are expected to turn positive in Q1 2010. This is a result of general ...
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PropertyEU Archive
Siemens RE buys Moscow office building
Germany's Siemens Real Estate has acquired an office building in the Moscow business district of Zamoskvorechye from Russian property company Legion Development. The financial details of this transaction were not disclosed.
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PropertyEU Archive
Fabege signs lease with Vectura in Solna Business Park
Vectura Consulting has signed a lease for 6,300 m2, including 5,900 m[sup]2[/sup] of office space, in Fabege's Fräsaren 10 property on Svetsarvägen 24 at Solna Business Park in Sweden.
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PropertyEU Archive
Swiss Life buys four nursing care facilities from Hochtief
Hochtief Projektentwicklung has sold its nursing care facilities in the German towns of Langweid, Albstadt, Fuldatal and Klettgau to the life assurer Swiss Life. It was agreed the purchase price would be disclosed. The properties, each of which will house up to 80 residents, will be run on the house ...
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PropertyEU Archive
UBS secures Valencia shopping centre
UBS Real Estate, acting on behalf of its fund UBS (D) 3 Kontinente Immobilien, has acquired Ribera del Xúquer shopping centre located in Carcaixent, Valencia, from Grupo Lar and Eroski. The scheme comprises a 22,000 m[sup]2[/sup] of retail gallery and a 12,476-m[sup]2[/sup] Eroski hypermarket and petrol station. The fund has ...
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PropertyEU Archive
Sponda starts development of City-Center scheme
Finnish property investment company Sponda said it is developing a new office and shopping centre in the City-Center commercial complex in Helsinki. The company plans to invest a total of EUR 125 mln in the construction of the mixed-use development, which is being built in several phases and will extend ...
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PropertyEU Archive
Züblin prolonged financing in Holland and Germany
Züblin Immobilien has successfully concluded its negotiations for upcoming mortgage refinancing obligations in the Netherlands and Germany. All mortgage financing contracts which were due to mature in the coming twelve months have been prolonged. The company also announced that it has sold its property at Avenue Hermann Debroux 17/19 in ...
