All Real Assets articles in Web Issue – Page 479
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PropertyEU Archive
Eurocommercial finalises EUR 100m mall acquisitions
Eurocommercial announced this week that it has completed the acquisition of Centre Commercial Plaine de France in Moisselles in the Val d'Oise, Paris region, and Centro Commerciale I Portali in Modena, Emilia Romagna northern Italy, for a total cost of approximately EUR 100 mln.
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PropertyEU Archive
Unite sells student housing assets to fund for EUR 107m
The Unite Group, a leading developer and manager of student accommodation in the UK, has sold a portfolio of five assets to the Unite UK Student Accommodation Fund for £95.4 mln (EUR 107 mln). The transaction followed the successful completion of the £167 mln capital raising, inclusive of Unite’s co-investment, ...
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PropertyEU Archive
L&G acquires Covent Garden portfolio for EUR 134m
Legal and General Property has acquired ING Covent Garden Limited Partnership's entire investment portfolio for £119.5 mln (EUR 134 mln), reflecting a net initial yield of 6.75%.
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PropertyEU Archive
Kesko carries out EUR 150m sale-and-leaseback operation
Nordic-Baltic retail group Kesko has sold 13 stores in different parts of Finland to Varma Mutual Pension Insurance Company in a sale-and-leaseback transaction. The debt-free selling price of the properties is EUR 156 mln.
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PropertyEU Archive
Kungsleden to sell 22 properties for EUR 44m
Listed Swedish property company Kungsleden has reached an agreement to sell 22 commercial properties for a total net price of SEK 460 mln (EUR 44 mln) after deducting taxes and transaction costs. The property yield amounts to approximately 7% and the estimated profit after tax is SEK 55 mln.
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PropertyEU Archive
GRR wins mandate to manage EUR 240m of assets
Germany's GRR Real Estate Management (GRR REM) has said it has received a mandate from an international investor for the management of assets totalling around EUR 240 mln. The portfolio consists of 42 properties located throughout Germany. Predominantly in the retail sector, the properties have a total area of just ...
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PropertyEU Archive
AIK shops in Brussels with EUR 25m acquisition
Germany's APO Immobilien-Kapitalanlagesellschaft (AIK) said it has acquired an office building in the central business district of Brussels for a total of EUR 25 mln. The asset is earmarked for one of the company's special property funds.
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PropertyEU Archive
LaSalle sells Wren Retail Park in Torquay for EUR 27m
LaSalle Investment Management has announced the sale of Wren Retail Park in Torquay for £24.4 mln (EUR 27.4 mln) to Aviva Investors Pensions Limited, on behalf of The Torquay Unit Trust. The transaction represents an initial yield of 5.5%.
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PropertyEU Archive
SEB purchases office building in Birmingham for EUR 35m
SEB Asset Management has acquired an office building in Birmingham for the open-ended real estate fund SEB Immoinvest. The total investment costs come to EUR 35.1 mln.
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PropertyEU Archive
RDG buys Italian shopping gallery for EUR 46m
Riqualificazione Grande Distribuzione (RGD), a 50/50 joint venture between Italian property companies Beni Stabili and IGD, has signed a preliminary agreement to acquire the Ducale shopping mall in Vigevano, near Pavia in Northern Italy. The transaction price amounts to EUR 46 mln, excluding costs.
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PropertyEU Archive
Henderson fund sells UK retail park to Aberdeen
Henderson Global Investors' Caspar fund has sold the Four Pools Retail Park in Evesham to Aberdeen Property Investors for £15.6 mln, reflecting a net initial yield of 6.79%. The bulky consented park, which extends to around 76,436 sq ft, includes Homebase, Halfords and Pets at Home within its line-up ...
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PropertyEU Archive
Capman acquires city-centre property in Helsinki
The Capman Hotels RE fund has signed an agreement to acquire the Vanhajämerä real estate company with a property located in central Helsinki from Helsinki-listed property company Sponda.
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PropertyEU Archive
DHL agrees major warehouse lease in Belgium
CB Richard Ellis said it has secured the leasehold interest on behalf of DHL Supply Chain for a new purpose built warehouse facility in Bornem, near Brussels in what the property adviser says is a huge boost to the Belgian warehouse market.
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PropertyEU Archive
Banimmo completes two further divestments
Brussels-based real estate firm Banimmo has completed the sale of two assets for EUR 20 mln, achieving its annual sales objective. The sales relate to, on the one hand, the retail centre in Eeklo and, on the other hand, a small office building located in Brussels which, given its size, ...
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PropertyEU Archive
JLL brokers major transaction in the British Midlands
Jones Lang LaSalle has acted for Capital One Bank which sold Loxley House on Station Street in Nottingham to Nottingham City Council for £22.5 mln (EUR 25.1 mln).
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PropertyEU Archive
Land Securities buys site in Glasgow shopping district
Land Securities announces has completed the purchase of the property known as 'The Atlas Site' on Glasgow's Buchanan Street directly opposite its Buchanan Galleries shopping centre, jointly owned with Henderson Global Investors, for just under £10 mln (EUR 11.2 mln).
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PropertyEU Archive
Gherkin subtenant paying highest rent in City: Wallace
Financial investor Sutherland Group has signed a tenancy agreement as a subtenant at the Gherkin for what has ended up being the highest rent in the City of London this year, according to adviser Wallace.
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PropertyEU Archive
New mixed-use development launched in Wroclaw
Centrum Metropol, a new mixed-use project located in the heart of the Polish city of Wroclaw, was officially launched in mid-December. The development will consist of a mid-scale business hotel under the Hilton Garden Inn brand together with modern office, retail and convenient residential facilities. McCarthy-Harte is the investor and ...
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PropertyEU Archive
Happy New Year
The first PropertyDay of 2010 following the Christmas break will be published on 4 January. The PropertyEU team wishes you a Prosperous New Year.
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PropertyEU Archive
Invista Trust sells Portman House stake
Invista Foundation Property Trust Limited has exchanged unconditional contracts to sell its 21.6% share in the joint venture that owns Portman Square House, London W1 for £23.11 mln. The deal is part of the disposal of the entire long leasehold property interest. Completion of the transaction is expected on 31 ...
