All Real Assets articles in Web Issue – Page 486
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PropertyEU Archive
NordCapital acquires ING RED's Facet project
German investment group NordCapital has acquired the Facet office project in the Netherlands from ING Real Estate Development. The financial details were not disclosed but it is believed the investment volume was EUR 65 mln.
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PropertyEU Archive
Deka agrees sale-and-leaseback with Tesco in Prague
Deka Immobilien has acquired the Tesco Distribution Centre in the Prague metropolitan area in the Czech Republic. The logistics property is part of the portfolio held by the open-ended property fund Deka-ImmobilienEuropa. The vendor is Tesco Group, the world's third largest grocery retailer. The purchase has been implemented as part ...
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PropertyEU Archive
KGAL sells Alba unit to Strauss & Partner
German fund manager KGAL has sold its fully-owned Alba BauProjektManagement unit to the Austrian group Strauss & Partner Immobilien. The transaction is part of KGAL's strategy aimed at focusing on the creation and marketing of closed-end funds, the company said.
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PropertyEU Archive
Hamborner set to become third German REIT
German property company Hamborner has applied for conversion to REIT status with effect from 1 January 2010. The company expects the change in status to be entered in the German Commercial Register in a couple of weeks, after which the company will change its name to Hamborner REIT. If approved, ...
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PropertyEU Archive
ECE, HSH RE receive green light for Bulgarian mall project
German developer ECE Projektmanagement has received a construction permit for a new shopping centre in downtown Plovdiv, Bulgaria's second largest city, Polish papers reported this week.
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PropertyEU Archive
CBRE names new head of Sweden
CBRE has appointed Johan Elfstadius to the position of managing director of CBRE's Swedish business. Before joining CBRE, Elfstadius was managing director and CEO of Colliers International's Swedish arm. He brings over 10 years of local market knowledge and experience to CBRE's rapidly growing Nordic operations. He will join the ...
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PropertyEU Archive
Citycon launches construction of Helsinki shopping centre
Finnish property company Citycon Oyj has unveiled plans to develop a new shopping centre as part of a larger mixed-use project near the metro station of Myllypuro in Helsinki. The project, involving total development costs of EUR 60 mln, will consist of a mall, 255 apartments as well as an ...
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PropertyEU Archive
Harbert close to launch third European fund
US investment management firm Harbert Management Corporation is planning to launch a third fund targeting European real estate. The company is set to start the marketing of its Harbert European Real Estate Fund III, which will seek to raise EUR 400-500 mln of equity from third-party investors, private equity magazine ...
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PropertyEU Archive
Rezidor to open new hotel in Russia
Belgian hotel group Rezidor has signed an agreement to open a new hotel in Russia. Park Inn Lipetsk, featuring 237 rooms, is under construction and scheduled to open in 2012. 'This hotel marked our 35th signing in 2009. Despite the challenging climate, we could add almost 7,000 rooms to our ...
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PropertyEU Archive
Pointpark, Panattoni lease 63,000 m[sup]2[/sup] in Poland
Arcapita's logistics property arm Pointpark Properties has signed an agreement with the Polish unit of Portuguese retail group Jeronimo Martins to expand its lease agreement at Pointpark's Mszczonow park in Poland. Following the transaction, JM will occupy over 40,000 m[sup]2[/sup] of warehousing and office space in a dedicated facility within ...
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PropertyEU Archive
Residential portfolio transactions in Germany exceed EUR 3b
The German market for residential portfolios picked up in 2009, with a significant number of portfolios actively transacted in the second half of the year compared to H2 2008, according to adviser Savills. In total, 107 residential portfolios worth an estimated EUR 3.2 bn and comprising a total of some ...
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PropertyEU Archive
Berenberg Invest picks up Paris office scheme for EUR 83m
Berenberg Invest has confirmed the acquisition of an office property in Paris from BNP Paribas Immobilier for just over EUR 83 mln. A spokesperson confirmed to PropertyEU that the investment arm of Germany's Berenburg Bank is contributing the 20,000-m[sup]2[/sup] property in Fontenay-sous-Bois at the south-eastern fringe of Paris to a ...
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PropertyEU Archive
Signs of recovery in hotel sector after sharp fall in values
The full impact of the recession continued to hamper transactional activity and reduce average property values across the UK hotel, pub, restaurant, leisure, care and retail sectors during 2009, according to Christie + Co’s Business Outlook 2010 publication.
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PropertyEU Archive
Alexander Zahrt joins Savills in Germany
Alexander Zahrt has joined Savills Immobilien Beratungs as senior investment consultant at its Munich office. The Finanzwirt (IHK) and Certified Financial Planner (EBS) has many years of experience in finance and investment. He last worked for Colliers CRE in London where he was responsible for UK/German investment and prior to ...
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PropertyEU Archive
Azora buys Cristal Park
Yareal Polska has sold the Cristal Park office building in Warsaw to Azora, one of Spain's leading private equity companies with more than EUR 700 mln under management. Completed at end-2009, the deal is just one of a few sales concluded in the Warsaw office market in 2009.
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PropertyEU Archive
Invesco Real Estate buys in France
Invesco Real Estate has acquired another office building in France for EUR 37 mln from Allianz Real Estate. The deal follows two previous transactions in Paris and Lyon at end-2009. Located on Avenue des Champs-Elysées in Paris, the retail and office building will be placed in Invesco's pan-European fund.
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PropertyEU Archive
Private investors launch Talisman Capital
A number of high net worth investors have backed the launch of a new company - Talisman Capital - to capitalise on the current opportunities in the UK property market. Founded by Mark Hancock and Adam Kerr, the new platform has equity to co-invest and is legacy free. Its management ...
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PropertyEU Archive
CBRE opens office in Rotterdam
CB Richard Ellis (CBRE) has announced that it will open its fifth office in the Netherlands in April 2010. CBRE will build an additional property team in central Rotterdam to complement its existing network of Dutch offices in Almere (Rietmeijer Huisvestingsadviseurs), Amsterdam, Hoofddorp and The Hague.
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PropertyEU Archive
Conwert achieves EUR 300m sales in 2009
Vienna-listed Conwert Immobilien Invest said it sold properties totalling more than EUR 350 mln in the 2009 financial year based on preliminary figures. The sales target was raised from an original EUR 200 to EUR 300 mln for the full year.
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PropertyEU Archive
Acciona sells building in Valencia for EUR 24m
Spanish energy and construction group Acciona has sold the Alameda office building in Valencia to the Zriser Group. The transaction price amounts to EUR 24.3 mln. The property offers 11,200 m[sup]2[/sup] of office space and an underground parking lot on three levels. Major tenants in the building include Vodafone and ...
