All Real Assets articles in Web Issue – Page 481
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PropertyEU Archive
Icade buys Morgan Stanley's 94.5% stake in La Lucette
Icade and Morgan Stanley Real Estate Fund V have entered into a binding framework agreement for the acquisition by Icade of MSREF's 94.5% stake in Compagnie la Lucette, a Paris-listed real estate investment trust.
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PropertyEU Archive
Union Investment buys Hamburg property for EUR 60m
Union Investment Real Estate has acquired the Geschäftshaus Ottensen business premises in Hamburg from Pirelli Real Estate and the B&L Gruppe for EUR 60 mln. The deal follows the purchase of the Mercado shopping centre and the adjacent business premises earlier in 2009.
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PropertyEU Archive
Pirelli RE's Olinda fund sells Milan asset for EUR 65m
Olinda Fondo Shops, a closed-end real estate investment vehicle managed by Pirelli Real Estate, said it has sold an office property in Milan to an Italian private investor for nearly EUR 65 mln. The buyer was not disclosed.
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PropertyEU Archive
BNP Paribas funds buy and sell for EUR 66m
BNP Paribas REIM's asset management arm said that its Estense Grande Distribuzione property investment fund has acquired a retail park located in Camposampiero, Northern Italy, from Doss Spa. The transaction price amounts to around EUR 27 mln.
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PropertyEU Archive
Beni Stabili completes sales above book value
Beni Stabili has completed further sales of nine properties for a total of EUR 38.2 mln during the fourth quarter of 2009. This is slightly more than the book value at 30 September 2009 which stood at EUR 34.9 mln. The company also completed the sale of a property in ...
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PropertyEU Archive
CBRE sees deals concentrated in Big Three
For the coming year, CB Richard Ellis expect further increases in investment volumes in the UK, German and French markets. The adviser made the prediction in a preview of its forthcoming report ' After the Storm: Where Next for European Property?'. It pointed out, however, that the growth rate in ...
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PropertyEU Archive
Bouwfonds REIM buys in Norway and Germany
The Bouwfonds European Residential Fund has acquired properties in Germany and Norway with a total value of EUR 29 mln. The two residential properties in Germany were purchased at a subsantial discount follwoing insolvency proceedings.
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PropertyEU Archive
Max sells business park to Scottish Widows and Centurion
Max Property Group has announced the sale of Southwood Business Park to Scottish Widows and Centurion Properties for £16.5 mln (EUR 18.4 mln). The sale price represents a profit of £1.8m over the property's September valuation. Net of debt repayment, £7.8 mln of cash will be released for new acquisitions.
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PropertyEU Archive
Fabege sells in Nacka and Västberga
Swedish property company Fabege has sold its Sicklaön 145:20 property in Nacka to Järla Marknad for SEK 50 mln (EUR 4.8 mln) and its Elektra 20 leasehold to Fastighets AB TESST for SEK 7 mln. Sicklaön 145:20 comprises a lettable floor area of 3,300 m[sup]2[/sup]. The Electra 20 leasehold property ...
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PropertyEU Archive
Eurostate in EUR 150m hotel investment joint venture
Eurostate, a privately held fund manager based in Barcelona, has signed a partnership agreement with an undisclosed hotel investment fund, controlled by a large sovereign wealth fund, to purchase boutique hotels in the main Spanish cities and European capitals.
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PropertyEU Archive
Citadel buys French office building for EUR 33m
Citadel, the French property arm of London-based CLS Holdings, has acquired a 7,357-m[sup]2[/sup] office building at 7 rue Eugène et Armand Peugeot, 92500 Rueil Malmaison from Corio. The consideration inclusive of all costs was EUR 33 mln. The property, built in 1988, was partly refurbished in 2005/06, and substantially ...
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PropertyEU Archive
WP Carey enters Spain with EUR 36m retail deal
US investment group W. P. Carey said it has completed the acquisition of a portfolio of Eroski supermarkets in Spain for $51 mln (EUR 36 mln). The Spanish sale-and-leaseback purchase was carried out by CPA(R):17 - Global, one of W. P. Carey's publicly-held REIT affiliates, and comprises 13 retail facilities ...
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PropertyEU Archive
King Sturge predicts best returns for 4 years
2010 will be a boom year for commercial property investment with the best returns for four years, according to Angus McIntosh, Head of Research at London-based King Sturge. He cautioned, however, that the boom year may be a false dawn. 'Total returns may well stay positive but capital values may ...
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PropertyEU Archive
Ferrovial sells Madrid HQ for EUR 40m
Spanish construction and property group Ferrovial has sold its head office in Madrid to a private real estate investor for around EUR 40 mln. The company is leasing back the asset for 12 years with an option to extend the lease by a further 10 years.
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PropertyEU Archive
Fimit's Delta fund buys 5 cinemas for EUR 65m
Italian fund manager Fimit said that its listed Delta closed-end property investment fund has acquired a fully-let portfolio consisting of five multi-screen cinemas for a total of over EUR 65 mln. The transaction reflects a gross yield of 7.5%.
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PropertyEU Archive
SEB acquires first property in Austria
SEB Asset Management has acquired its first property in Austria for its SEB Europe REI real estate special fund from Dutch developer Redevco. No financial details were disclosed.
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PropertyEU Archive
UK bank lending restricted by lack of suitable stock
Only 12% of UK banks are willing to extend commercial property loans of over £100 mln. This is one of the conclusions of a survey-based analysis by Jones Lang LaSalle of the UK banking sector’s approach to commercial property lending between now and 2011. The survey indicates, however, that loan ...
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PropertyEU Archive
Colliers International merges with FirstService REA
Colliers International and FirstService Real Estate Advisors have announced they will combine their operations and global real estate services platforms. The combined entity will assume FirstService REA’s operating and partnership model and operate as Colliers International in 61 countries around the world.
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PropertyEU Archive
Nabarro concludes two deals for Hermes at year-end
Nabarro LLP has concluded two concurrent deals for its client Hermes REIM ahead of the Christmas break. The first, completed on 23 December, was the acquisition of the 18-property Hawk portfolio acquired from Friends Provident. The portfolio contains high-street retail, office, retail warehouses and multi-let industrial estates with over 100 ...
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PropertyEU Archive
Vivacon in land deal with Immovation
German listed company Vivacon has sold the Salamander area in Kornwestheim to Immovation Immobilien Handels in Kassel. Financial details were not disclosed.
