All Real Assets articles in Web Issue – Page 484
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PropertyEU Archive
Deutsche Pfandbriefbank finances Invesco deal in Paris
Deutsche Pfandbriefbank has provided a medium term EUR 42.5 mln investment financing facility for the acquisition of an office building located 148 rue de l'Université in Paris, France.
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PropertyEU Archive
SRV, Baltic Pearl team up to develop EUR 125m Russian mall
Finnish property company SRV is joining forces with Chinese property group Baltic Pearl CJSC to develop a $180 mln (EUR 125 mln) shopping centre in the Russian city of St Petersburg. The two companies have signed a letter of intent for the creation of a 50/50 joint venture which will ...
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PropertyEU Archive
GlaxoSmithKline renews 2,385m[sup]2[/sup] lease in Budapest
Cushman & Wakefield (C&W) has completed the lease renewal for 2,385 m[sup]2[/sup] office space at Mom Park Office Towers in central Budapest with pharmaceuticals giant GlaxoSmithKline .
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PropertyEU Archive
MGPA Europe Fund III invests EUR 236m in Polish retail
MGPA, the private equity real estate investment advisory company, has completed the acquisition of two new shopping centres in Poland for EUR 187 mln or EUR 1,765 per m[sup]2[/sup]. The deal marks the largest real estate transaction in Poland since 2007.
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PropertyEU Archive
Prime City rents record first rise in 3 years
A flurry of major office lettings in the last three months boosted London’s office market to 6.4 million sq ft (594,000 m2) in 2009, according to new figures from Cushman & Wakefield. Some 41% of the year’s total take-up of office space took place in the last quarter as corporates ...
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PropertyEU Archive
Telereal Trillium appoints CBRE to advise on £475m sale
Telereal Trillium has appointed CB Richard Ellis to advise on the potential sale of the Oak Portfolio. The UK-wide portfolio comprises 55 assets principally let to Royal Bank of Scotland until 2037, with the leases benefitting from annual Retail Price Index (RPI) rental uplifts. CBRE said that it is aiming ...
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PropertyEU Archive
IFM closes office deals for over EUR 66.5m
German investor IFM Immobilien has sold the office property westendFirst in Frankfurt am Main to Bayerische Apothekerversorgung for EUR 55 mln.
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PropertyEU Archive
Barclays takes 7% stake in Metrovacesa
British bank Barclays has acquired a 6.98% stake in Spanish property giant Metrovacesa after exercising options on shares held by the group's former owners, the Sanahuja family.
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PropertyEU Archive
Viveris Reim buys EUR 80m portfolio from Casino
French asset manager Viveris Reim has acquired a commercial property portfolio from retailer Casino for around EUR 80 mln. The acquisition was made through the group's SPPICAV RFA Viveris Odyssée investment vehicle, which counts several institutional parties among its investors. Casino holds a minority interest in the vehicle.
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PropertyEU Archive
Redevco acquires prime retail property in Groningen
Redevco Netherlands has acquired a retail property, plus commonhold covering 1,500 m[sup]2[/sup] at Herestraat 72-74 on the main shopping street of the northern Dutch city of Groningen. The financial details of the transaction were not disclosed.
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PropertyEU Archive
HIH agrees forward acquisition of Hochtief's maxCologne project
Hamburg-based real estate group Hamburgische Immobilien Handlung (HIH) has acquired the maxCologne project from developer Hochtief prior to the start of construction. The office project in Cologne has been purchased for an institutional special fund of Warburg-Henderson in which Rheinische Versorgungskassen is the sole investor. The financial details were not ...
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PropertyEU Archive
Segro's Continental European boss steps down
London and Paris-listed real estate company Segro announced on Monday that Inès Reinmann, managing director of Continental Europe, has resigned from the board with immediate effect. Reinmann was appointed as an executive director on 1 November 2008 having joined Segro in October 2007. She was responsible for the Continental Europe ...
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PropertyEU Archive
Kefren in talks with investor for capital injection
Sweden's Kefren Properties said on Wednesday that it has initiated negotiations with a potential investor for a capital injection that will allow it to improve its financial position. The operation comes after the company revealed a breach of its loan-to-value covenant in December, prompted by a sharp drop in the ...
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PropertyEU Archive
Fee changes limited despite market conditions
Only 22 out of 268 funds altered their fee terms in 2009, according to the latest report from Inrev, the organisation for non-listed real estate investors.
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PropertyEU Archive
Deutsche Pfandbriefbank issues EUR 1 bn jumbo Pfandbrief
pbb Deutsche Pfandbriefbank on Monday successfully issued a EUR 1 bn public sector jumbo Pfandbrief. The move follows two previous placements of jumbo Pfandbriefs in September and October 2009.
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PropertyEU Archive
Hochtief lets 2,400m[sup]2[/sup] at Lindley Carrée in Hamburg
Hochtief Projektentwicklung has let a further 2,400 m[sup]2[/sup] of office space at Lindley Carrée in Hamburg to Ipsos, the international corporation for survey-assisted market research, which will relocate its offices to the building in November. Prior to the start of construction work, life assurance company neue Leben Lebensversicherung had secured ...
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PropertyEU Archive
Servihabitat to sell EUR 20m building in Barcelona
Servihabitat, the property services unit of bank La Caixa, has put an office building on Barcelona's main avenue, Gran Via, on the market, Spanish news agency Efe has reported. The company is targeting a sales price of around EUR 20 mln for the property.
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PropertyEU Archive
HRE to create bad bank for up to EUR 200b in risky assets
Nationalized property financier Hypo Real Estate (HRE) is expected to unload EUR 180 bn to EUR 200 bn of high-risk assets into a bad bank during the coming weeks, according to a report in German weekly Der Spiegel. That would mean the assets would no longer have to be written ...
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PropertyEU Archive
UK mall transactions rise sharply in Q4
A flurry of activity in the UK shopping centre sector during the final quarter of 2009 generated annual turnover of more than £2 bn (EUR 2.2 bn), approximately 42% ahead of 2008, according to property consultant Cushman & Wakefield.
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PropertyEU Archive
LBO France buys in Saint Ouen for EUR 41m
French private equity company LBO France has acquired SCI Saint Ouen Biron, the owner of an office complex located in Saint Ouen, from French SIIC Compagnie La Lucette. The transaction price amounts to some EUR 41.4 mln, French property magazine Business Immo has reported. The scheme consists of two buildings ...
