All Real Assets articles in Web Issue – Page 485
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PropertyEU Archive
SPDE sells property in Stavanger to Oslo Areal
Hinna Park AS, a Scandinavian Property Development ASA subsidiary, has entered into an agreement with Oslo Areal AS, regarding the sale of Kanalpiren AS at Hinna, Stavanger. The property comprises approximately 16,000 m[sup]2[/sup] of office space and a parking garage. The transaction is based on a property value of NOK ...
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PropertyEU Archive
Del Vecchio's Delfin vehicle boosts stake in FDR
Delfin, the holding of Fonciere des Regions' main shareholder Del Vecchio, is further increasing its stake in the French office property group with the acquisition of warrants to be converted into shares representing 1.74% of the group's capital. The operation will allow the Luxembourg-based holding to control a 23.4% stake ...
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PropertyEU Archive
Pitch Promotion delivers Paris' Link building to La Lucette
French property developer Pitch Promotion said it has completed the development of the Link office building in the 15th arrondissement of Paris. The High Quality Environmental (HQE)-certified building, offering 10,500 m[sup]2[/sup] of space and 71 parking spaces on two levels, was delivered last week to the French SIIC La Lucette.
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PropertyEU Archive
Helaba strengthens French real estate business
Pascal Amann has been appointed senior director of origination for Helaba's real estate business in France. Amann has over 25 years of experience in various positions in the French real estate business covering the investment, treasury and lending side of the business. He has been chief financial officer for French ...
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PropertyEU Archive
EstCapital launches Venice property fund
Italian fund manager EstCapital has announced that its Città di Venezia real estate fund has become operational with the transfer by the city of Venice of seven properties in exchange for fund units worth EUR 41 mln. In addition, the fund acquired a further 11 properties in January from the ...
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PropertyEU Archive
Valad secures major letting near Munich
European multi-let specialist fund and asset manager Valad Property Group has secured a major letting at the former HQ of high-end fashion house Escada at Margaretha-Ley- Ring in Aschheim-Dornach, near Munich. One of Europe’s leading fashion wholesalers, Schustermann and Borenstein, has taken 9,600 m[sup]2[/sup] in the building on a new ...
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PropertyEU Archive
Allianz takes 50% stake in Budapest's Allee mall for EUR 100m
Allianz Real Estate Germany and ING Real Estate Development (ING RED) announced on Wednesday that they have reached agreement on the sale of a 50% share in the Allee Shopping Centre in Budapest to Allianz for about EUR 100 mln. ING Real Estate Development will keep the remaining 50% ownership ...
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PropertyEU Archive
Take-up in major German cities falls 29% in 2009
In 2009 approximately 2 million m[sup]2[/sup] of office space was leased in the five major German office markets of Berlin, Düsseldorf, Frankfurt, Hamburg and Munich, according to a report by the German subsidiary of real estate adviser Savills. This corresponds to a reduction of 29% when compared to 2008. As ...
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PropertyEU Archive
BNP Paribas: investment volume set to rise 35% in 2010
BNP Paribas Real Estate sees commercial real estate investment rising 35% in 2010 compared to 2009. 'Investors are making a moderate return to large deals as borrowing conditions have eased and they gain a better understanding of economic and real estate prospects,' the adviser said in its latest report Outlook ...
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PropertyEU Archive
Tesco-British Land JV arranges EUR 352m refinanicng
Tesco BL Properties (TBL), a 50/50 joint venture between British Land Company and supermarket giant Tesco has completed the refinancing of its retail portfolio with a new £315 mln (EUR 352 mln) five-year term loan. The funds were used to repay TBL's existing bank loan on its scheduled maturity ...
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PropertyEU Archive
RREEF buys 7 nursing homes for EUR 95m
German investor RREEF Spezial Invest has acquired seven nursing homes in three separate transactions with real estate firms Semmelhaack and the Diringer & Scheidel group and a developer from Cologne. The transaction price amounts to a total of EUR 95 mln.
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PropertyEU Archive
Gide Loyrette Nouel advised on largest Polish deal
International law firm Gide Loyrette Nouel said on Wednesday that it advised Mayland Real Estate on the sale of two Polish shopping centres to private equity firm MGPA in what has been described as the largest real estate transaction in Poland since 2007.
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PropertyEU Archive
DTZ appoints Patrick Delcol as Country Head of Poland
DTZ has announced the appointment of Patrick Delcol as country head of DTZ in Poland, with effect from 1 February 2010. Delcol, 45, joins from ING Real Estate Development, Poland, where he was Development Director and a member of the Board. Previous roles in Poland include CEO of Centrum Development ...
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PropertyEU Archive
Quinlan Private Golub to manage Budapest’s bank center
GLL Real Estate Partners has appointed Quinlan Private Golub, the Central European real estate investment and development group, to manage its centrally-located Bank Center. The 30,000 m[sup]2[/sup] office building is currently almost fully leased to tenants including Citibank, OTP, Regus and Amgen.
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PropertyEU Archive
Nexity launches mixed-use project in Brussels
The Belgian arm of French property company Nexity has launched the development of a new mixed-use project on one of the last available sites in the European district of Brussels. Designed by architects A2RC, the project consists of three elements, in particular a 110-room hotel, residential apartments and office space. ...
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PropertyEU Archive
SWIP buys distribution warehouse in Northampton
Scottish Widows Investment Partnership Property Trust has acquired the freehold interest of a prime distribution warehouse located on Swan Valley Park, Northampton for £27.525 mln (EUR 30.84 mln) from PMB Holdings Ltd. The price reflects a net initial yield of 6.73%.
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PropertyEU Archive
RED secures financing for first Cadran in Romania
Immorent is providing EUR 8 mln in financing for RED’s first Cadran commercial centre that is to be developed in Husi, North East Romania. Immorent Romania is part of the Erste Group.
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PropertyEU Archive
Union Investment acquires EUR 1.6 bn worth of assets
Union Investment was again one of the most active players in the European real estate market in 2009. The Hamburg-based property fund manager acquired properties worth EUR 1.6 bn over the past 12 months. A total of 18 properties and projects were purchased for its six open-ended retail and special ...
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PropertyEU Archive
MOT sells Frankfurt property for EUR 39m
Macquarie Office Trust has agreed terms to sell its Frankfurt property for EUR 39.5 mln (A$61.7 mln). MOT said the sale would contribute further to the Trust''s liquidity and eliminate the need for the Sydney-listed trust to inject EUR 3.8 mln into the loan facility for this property.
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PropertyEU Archive
Arab Investments buys Sankt Annen Galerie for EUR 53m
London-based Arab Investments has acquired the Sankt Annen Galerie shopping and leisure centre in Brandenburg an der Havel, Germany from High Gain House Investments (HGHI Berlin). The transaction, which is being financed by Eurohypo, involves an investment of around EUR 53 mln. Savills advised Arab Investments on the acquisition.
