All Real Assets articles in Web Issue – Page 48
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PropertyEU Archive
Cala snaps up Brandon mall
Edinburgh-based Cala Properties has acquired the Brandon shopping centre situated on a 80,937 m[sup]2[/sup] site in Motherwell, Scotland for EUR 98 mln and is planning to invest millions in a major upgrade of the mall. Acquired through a joint venture deal with the corporate division of the Bank of ...
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PropertyEU Archive
Henderson buys French portfolio
London-headquartered Henderson Global Investors (HGI) has acquired the GDG Participations mixed-use portfolio for EUR 61.5 mln. The portfolio comprises business and warehouse properties totalling some 111,500 m[sup]2[/sup] spread across 21 sites in and around Paris. The transaction reflects a net initial yield of 7.7%.
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PropertyEU Archive
Russian Church moves into commercial real estate
The Orthodox Church in Russia has set up an investment centre which will develop commercial real estate on church-owned lands. The Investment Programmes Centre has already earmarked over 100 locations in Moscow for development.
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PropertyEU Archive
Vivacon sells Cologne office
Vivacon Development, a wholly-owned subsidiary of Germany's Vivacon, is planning to develop a six-storey office building in the Rheinauhafen area of Cologne, western Germany. The development, providing a total lettable area of about 8,000 m2, has been sold to AXA Investment Managers Deutschland ahead of the start of construction. The ...
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PropertyEU Archive
Sonae Sierra set to invest in S. Joao da Madeira mall
Portuguese shopping mall specialist Sonae Sierra has presented its S. Joao da Madeira mall development to the public. Under construction since April 2006, the mall is scheduled to be inaugurated next fall, Sonae Sierra said in a press release.
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PropertyEU Archive
IHG, Palminvest to develop two Potuguese hotels
Intercontinental Hotels Group (IHG) and Palminvest said construction has started on two new hotels in Portugal. The hotels will provide some 253 rooms in Porto and at Lisbon's airport, and will be operated under a franchise agreement. The hotels are expected to open at the beginning of 2008.
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PropertyEU Archive
ProLogis to develop eco-friendly warehouse
Distribution facility operator ProLogis is to develop a 49,000 industrial warehouse for Sainsbury's, one of the main supermarket chain in the UK. The facility will be built at ProLogis's Park Pinham in the Midlands and will serve 50 Sainsbury's stores in the central part of the UK. The distribution centre ...
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PropertyEU Archive
Ikea keen to expand in Spain
Swedish retailer chain Ikea is planning to invest EUR 120 mln in two new stores in the cities of Girona and Tarragona in southern Spain. An additional Ikea store is scheduled to open in Sant Cugat del Valles, Catalunya, by 2010, regional newspaper Catalunya Expansion has reported.
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PropertyEU Archive
Heberger sees Romanian expansion
Heberger's Romanian unit Heberger Constructii intends to start developing its own real estate projects in the country this year. The construction group estimates to generate turnover of EUR 55 mln this year, up 57% year-on-year, and has said it is planning to develop its own commercial or residential projects.
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PropertyEU Archive
Safestore unveils listing plans
UK's largest self-storage provider Safestore is to list its shares on the London Stock Exchange. Safestore was set up in 2002 and now operates 98 stores, making it the largest self-storage provider in the UK and the central Paris region, as well as the second largest in Europe.
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PropertyEU Archive
Benson Elliot buys Nikko hotel in Dusseldorf for EUR 114 mln
British investment company Benson Elliot Capital Management has acquired the German-Japanese Center in Dusseldorf, which contains the Nikko Hotel, for EUR 114 mln. The property has been added to the Benson Elliot Real Estate Partner II fund, German property newspaper Immobilien Zeitung said. Apart from the five-star hotel, the complex ...
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PropertyEU Archive
Unite secures EUR 171 mln student flat portfolio
The Unite Group, a provider of student accommodation in the UK, has acquired a £114.5 mln (EUR 171 mln) portfolio of student apartments from peer Base Limited. The transaction comprised the purchase of five properties with a total of 1,592 bedd in Liverpool. Leicester and Sheffield for £76.4 mln. The ...
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PropertyEU Archive
Warburg-Henderson acquires retail property in Austria
Warburg-Henderson KAG has bought the retail warehouse 'Pannonia Shopping Park' in the eastern Austrian town of Neusiedl am See for its Osterreich Fonds Number 1. The financial details of the transaction were not disclosed.
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PropertyEU Archive
Italy's Aedes steps up foreign expansion
Aedes, the Italian property company, has taken stakes in joint ventures in Sweden and the Central and Eastern European region to 'apply the co-investor and asset management model developed in Italy' to the international stage.
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PropertyEU Archive
Paris offices set to become luxury hotel
An office property in central Paris is to be converted into the first Mandarin Oriental hotel in the French capital, property company Societe Fonciere Lyonnais(SFL) announced on Friday. The 150-room luxury hotel is scheduled for delivery at the end of 2010 and will be run by Mandarin Oriental under a ...
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PropertyEU Archive
Sanahuja clan denies talk of new Metrovacesa bid
Cresa Patrimonial, the largest shareholder in Spanish property giant Metrovacesa, has played down a newspaper report that suggested it is preparing to make a bid for 100% of the company. Cresa sent a statement to Spanish stock market watchdog CNMV to say it had no intention of launching ...
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PropertyEU Archive
Freeport breaks off takeover talks with Carlyle
Freeport, a UK developer and operator of retail outlet shopping centres in Europe, has ended discussions with all potential suitors, including Carlyle Real Estate Advisors UK. Explaining the decision to terminate the preliminary takeover talks, the company said in a statement last Thursday that it was concerned about the length ...
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PropertyEU Archive
German thinktank broadens property research
German economic thinktank Institut der deutschen Wirtschaft (IW) has added a new position to its research team in a bid to broaden its property research activities.
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PropertyEU Archive
Unibail, Paris team up on conventions
Unibail, the French-listed property company, and the Paris Chamber of Commerce and Industry (CCIP) have signed an exclusivity agreement to explore a potential merger of their operations in the convention-exhibition sector.
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PropertyEU Archive
Shaftesbury, McKay to convert to REITs
Shaftesbury and McKay Securities have become the latest UK-listed property companies to announce they are to convert to tax-efficient real estate investment trust (REIT) status. Nine UK property companies, including giants British Land and Land Securities, converted on 1 January. Shaftesbury and McKay Securities are to follow suit on 1 ...
