All Real Assets articles in Web Issue – Page 487
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PropertyEU Archive
Aberdeen completes £250m investment into UK property market
Aberdeen Property Investors (Aberdeen) said on Monday that it has acquired around £250 mln (EUR 284 mln) of UK commercial properties in the last three months on behalf of institutional clients. 'Our size and reach in the market has allowed us to complete 15 acquisitions,' said John O’Connor, managing director ...
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PropertyEU Archive
L&S buys £33m distribution unit in the UK
London & Stamford Property has made its first investment of 2010 with the acquisition of a freehold distribution unit in Tamworth, UK. In a statement on Monday, the company said that it has exchanged contracts with Clerical Medical Investment to buy the asset for £33.3 mln (EUR 38 mln), reflecting ...
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PropertyEU Archive
Corestate Capital acquires 4,700 apartments in Germany
Swiss real estate private equity firm Corestate Capital has entered into an agreement to acquire around 4,700 apartments from BGP Investment in Germany. The portfolio comprises over 300,000 m[sup]2[/sup] of lettable space in the west of the country and currently carries about EUR 150 mln of debt financing.
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PropertyEU Archive
European investment up 42% in Q4: CBRE
European commercial real estate investment turnover grew to EUR 25.7 bn in the fourth quarter (Q4) of 2009, up 42% on the previous quarter, according to new data issued by CB Richard Ellis. This is the highest quarterly total since Lehman's collapse in September 2008, and confirmation that the upturn ...
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PropertyEU Archive
Atenor places EUR 75m bond to fund development, new deals
Belgian property developer Atenor has successfully placed a EUR 75 mln five-year bond aimed at diversifying its sources of financing. The company said that the bond offering was raised from EUR 50 mln to EUR 75 mln as a result of 'considerable demand' from investors.
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PropertyEU Archive
WGF acquires German residential portfolio from Pirelli RE
German property group Westfälische Grundbesitz und Finanzverwaltung (WGF) has acquired a portfolio of 1,187 residential units in Germany from Italy's Pirelli Real Estate for about EUR 56 mln.
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PropertyEU Archive
Savills appointed as joint leasing agent for One New Change
Land Securities has appointed Savills to work alongside DTZ on the leasing of the remaining 205,000 sq ft of office space at its One New Change development in the City of London.
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PropertyEU Archive
Deutsche Bank and Don Stroy agree major Russian leasing
Deutsche Bank and DS Development (Don-Stroy) have announced they have completed one of the largest deals on the Russian office market in 2009. Deutsche Bank leased more than 7,000 m[sup]2[/sup] of office space in the Begovaya NordStar Tower business centre for a seven-year period. The leased floor space will provide ...
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PropertyEU Archive
Core funds increasingly popular among investors: Inrev
Institutional investors are signalling a return to the fundamentals of real estate investment by opting for core funds, according to the latest Inrev study. The results of the Inrev Investment Intentions Survey 2010 show that close to 70% of investors now prefer core-style funds compared to 38% in 2009. This ...
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PropertyEU Archive
Orco's bondholders reject debt proposal
Troubled Central European developer Orco has failed again to get bondholders' approval on a plan to restructure its debt. The Paris-based company, which has been under creditor protection since last March, had put forward a proposal to its bondholders to swap around EUR 400 mln of debt for stock.
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PropertyEU Archive
Mercialys, Coop d'Alsace team up in Strasbourg project
French retail property group Mercialys is joining forces with the Union des Coopérateurs d’Alsace (Coop d'Alsace) to carry out a full renovation of the retail gallery within the Leclerc shopping centre on the Geispolsheim site in Strasbourg. Mercialys said that Coop d'Alsace has transferred ownership of the shopping centre to ...
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PropertyEU Archive
Canary Wharf buys 1 Park Place out of administration
Canary Wharf Group (CWG) has acquired the long leasehold interest in 1 Park Place adjoining the Canary Wharf Estate. The site was purchased for £17.5 mln (EUR 20 mln) from Park Place acting through its receivers.
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PropertyEU Archive
CS Group to open 10 hotels in Portugal
Portuguese hotel group CS has unveiled plans to open 10 new premises in the Algarve, Lisbon and Alentejo regions of Portugal this year. According to president Carlos Saraiva, the new centres represent a total investment of EUR 440 mln and will bring the number of hotels managed by the group ...
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PropertyEU Archive
Affine divests EUR 26m worth of property
Affine has divested EUR 26 mln worth of property in France as part of its strategy to dispose of non-strategic assets. The French real estate investment trust, or SIIC, sold six 'mature' office buildings located in Avignon, Bailly, Nantes, Sèvres, Paris and Sophia Antipolis. This brings the group's total sales ...
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PropertyEU Archive
AXA REIM acquires two police stations for EUR 34m
AXA Real Estate Investment Managers (AXA REIM) has acquired two recently completed and occupied properties in Kalmar and Vastervikon, Sweden from the Sveafastigheter-managed Fund AEVS Sverige 1 for SEK 348 mln (roughly EUR 34 mln). The acquisitions were made on behalf of AXA REIM's Alternative Property Income Venture (APIV) fund.
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PropertyEU Archive
Inarcassa appoints Fabrica to set up EUR 600m fund
Inarcassa, the Italian pension fund for self-employed engineers and architects, has mandated fund manager Fabrica to create and manage a new EUR 600 mln real estate investment fund. The appointment of Fabrica follows a bidding process launched by Inarcassa in the summer of 2009 for the management of the pension ...
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PropertyEU Archive
Land Securities kicks off EUR 759m West End development drive
UK property giant Land Securities has announced the start of a £655 mln (EUR 759 mln) West End development programme with construction contracts agreed for three schemes. All are due to be completed by 2013.
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PropertyEU Archive
Prime yields under downward pressure across Europe
Widespread declines in prime yields were seen across the main European real estate markets in the final quarter of 2009, according to the latest data from CB Richard Ellis.
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PropertyEU Archive
Argo RE appoints DTZ to manage Romanian shopping centres
Argo Real Estate has appointed DTZ's Romanian arm, DTZ Echinox, to manage its Suceava and Sibiu shopping centres in Romania. 'By winning these two major retail schemes, DTZ triples the size of its property management portfolio, only four months after the restructuring of the department,' the broker said.
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PropertyEU Archive
Deka mandates CBRE to manage French assets
Deka Immobilien has appointed CB Richard Ellis to manage half of its portfolio s in France. The international property services group will manage 12 office, retail and logistics buildings which cover a total of 163,591 m[sup]2[/sup].
