All Real Assets articles in Web Issue – Page 478
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PropertyEU Archive
Crein spends EUR 100m on Afirma stake
Valencia-based property development company Crein has acquired a 24.5% stake in Madrid-listed Afirma Grupo Inmobiliario from the company's main shareholder Martibalsa. The acquisition represents an investment of EUR 102.5 mln, based on Afirma's closing share price on the same day of the acquisition.
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PropertyEU Archive
Allianz RE buys office building in Munich for EUR 100m
Allianz Real Estate Germany has acquired a building complex in the Nymphenburger Straße in Munich for an investment volume of about EUR 100 mln. The complex was acquired from E.on Energie for various Allianz companies under the control of Allianz Lebensversicherung.
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PropertyEU Archive
GVA Sawyer JV to invest $100m in Russia's first outlet centre
A joint venture of Russia's GVA Sawyer, Belgium's Liebrecht & Wood and Poland's Fashion House Development is investing $100 mln in the acquisition and development of a site which will house Russia's first outlet centre near Moscow.
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PropertyEU Archive
Hammerson jv acquires Glasgow mall for EUR 334m
Hammerson and Canada Pension Plan Investment Board (CPPIB) have acquired Silverburn shopping centre in Glasgow for £297 mln (EUR 334 mln). The two parties said on Monday that they have entered into a 50:50 joint venture which has acquired Retail Property Holdings from The Elementary Property Company which acted as ...
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PropertyEU Archive
Casino sells EUR 85m worth of assets
French retailer Casino has reportedly sold two portfolios of retail assets to Sofidy and Uffi Ream for a total of EUR 84.5 mln. According to French magazine Business Immo, the company has disposed of 60 mini-markets to French property manager Sofidy.
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PropertyEU Archive
ING RE appoints new bosses to development and finance units
Banking group ING has announced the appointment of Hein Brand as general manager of Real Estate Development (RED). Brand, who has headed ING Real Estate Finance for eight years, replaces Menno Maas who is stepping down from the helm of ING RED in January.
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PropertyEU Archive
BNP Paribas RE boosts property management with new European mandates
France's BNP Paribas Real Estate said that its property management unit has increased assets under management by over 2.2 million m[sup]2[/sup] in the course of 2009, reaching a total of 28 million m[sup]2[/sup] of commercial space across Europe.
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PropertyEU Archive
Bouygues completes development of Technopole complex
French property developer Bouygues Immobilier said it has completed the development of its Technopôle business complex in Meudon-la-Forêt, in the French Hauts-de-Seine region. The scheme will house the new office of Bouygues Telecom which will relocate to the property in January 2010 with a staff of 3,000.
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PropertyEU Archive
Icade in talks to buy Morgan Stanley's La Lucette - report
French property company Icade is close to acquiring Morgan Stanley's Paris-based property investment arm Compagnie La Lucette, French newspaper La Tribune has reported, without quoting sources. La Lucette is 94.7%-owned by the US bank and has a market capitalisation of some EUR 270 mln at present.
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PropertyEU Archive
Corio pulls out of Turkish shopping centre developments
Dutch shopping centre specialist Corio said on Monday it has pulled out of the Akkoza (25% interest) and Akasya (7% interest) shopping centre development projects in Turkey (EUR 79.5 mln) and removed them from its pipeline. The company said it had reached an agreement with the developers to cancel its ...
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PropertyEU Archive
Reyal Urbis' main creditors make debt refinancing offer
Reyal Urbis' major creditors have made an offer to restructure the debt-laden Spanish real estate developer's EUR 4.8 bn of debt, Dow Jones reported, quoting a financial source close to the process. Reyal must agree to the creditors' conditions outlined in a term sheet which has been agreed by 10 ...
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PropertyEU Archive
ING RED sells seven court buildings to Dutch State for EUR 200m
ING Real Estate Development (ING RED) is selling seven court buildings in the Netherlands to the Dutch State for about EUR 200 mln. The properties were developed by ING RED at the request of the State in the 1990s and leased on a long-term basis to the Rijksgebouwendienst, the Dutch ...
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PropertyEU Archive
Mutuelle Médicis buys EUR 25m worth of projects
French pension fund Mutuelle Médicis has acquired four development projects in France from sellers JCA, Hill & Associés and Cirmad for a total of EUR 25 mln. The High Environmental Quality (HQE) projects will provide 7,500 m[sup]2[/sup] of space on completion in 2010 and 2011. Adyal advised Mutuelle Médicis on ...
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PropertyEU Archive
New fund acquires Rotunda leisure scheme for £42m
Derwent London Plc have completed the sale of The Rotunda leisure scheme in Kingston Upon Thames to a new fund established by Curo Property Fundsfor £42 mln, reflecting a net initial yield of 7.46%.
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PropertyEU Archive
Hammerson picks up EUR 450m mall development in Marseille
Hammerson has acquired Les Terrasses du Port, Marseille, one of the largest shopping centre developments anticipated in France in the next few years. The vendor is Foruminvest, a private developer based in Holland. The initial capital commitment, including acquisition costs, is expected to be approximately EUR 50 mln in the ...
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PropertyEU Archive
Realia sells stake in Nervion Plaza mall for EUR 94m
Spanish property company Realia has sold its majority interest in the Nervion Plaza shopping centre in Seville, Spain to Henderson Global Investors for around EUR 94 mln.
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PropertyEU Archive
Evans Randall kicks off new European drive with acquisition in Moscow
Evans Randall, the privately held UK investment banking and private equity group, has acquired Silver City, a prime office complex in central Moscow, as part of a renewed programme of prime property acquisitions in Europe. Silver City is a 41,650 m[sup]2[/sup] complex of grade A offices completed in 2007, located ...
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PropertyEU Archive
Cofinimmo reports string of acquisitions and disposals
Cofinimmo has added four care homes in Belgium to its portfolio and acquired a new office project in Antwerp for just over EUR 11 mln. The Brussels-based real estate firm also disposed of the property rights to a business park in the Belgian town of Wavre and sold the Astronomie ...
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PropertyEU Archive
Media Markt opens at Sistema-Hals' Detsky Mir mall in Kazan
Sistema-Hals, one of the biggest companies in the Russian and CIS real estate market, has announced the opening of the Media Markt and Detsky Mir stores in Detsky Mir shopping centre in Kazan. The grand opening of the first electronics store in the Tatarstan Republic took place on 16 December.
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PropertyEU Archive
Office sector leads recovery in Europe: DTZ
Year-end forecast figures published by DTZ on Tuesday show an ongoing trend of stabilisation in rental values across the major European markets. The figures indicate five-year annualised rental growth of 1.8% for the office sector, 1.6% for retail and 1.1% for industrial. All sectors are demonstrating significant improvement compared to ...
