All Real Assets articles in Web Issue – Page 49
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PropertyEU Archive
Kungsleden expands further in Germany
Swedish property company Kungsleden has bought a retirement home near Berlin for approximately SEK 150 mln (EUR 16.4 mln), the company said Friday. Located in Werder, some 25 km southwest of Berlin, the property has over 10,000 m[sup]2[/sup] of lettable floorspace and accommodation for 190 residents. The rental value is ...
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PropertyEU Archive
Jones Lang teams up with REAS in Poland
Global property advisor Jones Lang LaSalle (JLL) has signed a cooperation agreement with REAS Konsulting, a Polish market leader in residential consultancy. JLL said that the deal will enable both sides to make 'a premier service offer' to clients in the residential market in Poland.
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PropertyEU Archive
Hammerson gets backing for EUR 1 bn Leeds scheme
Hammerson and Leeds-based Town Centre Securities have received preliminary planning consent for a EUR 1 bn mixed-use development that will transform the centre of Leeds, northern England. The two property firms have set up a 90/10 joint venture to develop a 100,000 m[sup]2[/sup] retail-led scheme which will regenerate the Eastgate ...
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PropertyEU Archive
Land Securities buys Accor hotel portfolio
UK property firm Land Securities has said its property partnership business Land Securities Trillium (LST) has acquired a portfolio of hotels from the world's fourth-largest hotel operator Accor as part of a sale and leaseback deal. The group, whcih became a real estate investment trust (REIT) in January, will ...
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PropertyEU Archive
Hansteen acquires more European warehouses
Hansteen, the AIM-listed investor in continental European real estate, has acquired seven investment properties in the Germany, the Netherlands and France for a total of EUR 44.5 mln. The properties produce a combined rent of EUR 3.86 mln.
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PropertyEU Archive
Benson Elliot, GCI join forces in French portfolio
Private equity real estate firm Benson Elliot Capital Management and the French real estate investment and development company Générale Continentale Investissements, (GCI) have teamed up to acquire a portfolio of six office properties in the Paris area for EUR 240 mln.
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PropertyEU Archive
Washington offices in sell-off as Blackstone seals EOP deal
Private equity group Blackstone plans to sell the Washington portfolio held by Equity Office Properties, the Washington Post has reported three days after Blackstone closed the acquisition of the largest office manager in the US for a record $39 bn (EUR 30 bn) last week.
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PropertyEU Archive
Docks Lyonnais snaps up Paris office building
Property investment and management company Docks Lyonnais has acquired an office building from the French Société Vendôme Haussmann located at 6-8, boulevard Haussmann, in the ninth arrondissement of Paris for EUR 440 mln. The building, providing some 27,000 m[sup]2[/sup] of office space, is completely let to the information technology company ...
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PropertyEU Archive
Sparkassen sees Bulgarian expansion
Vienna-listed Sparkassen Immobilien is planning to invest EUR 180 mln in the development of one of the biggest retail and office centres in Sofia, the capital of Bulgaria. Sparkassen, the real estate investment company of Erste bank, is poised to develop the Serdika mall together with Hamburg-based retail specialist ECE ...
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PropertyEU Archive
ProLogis buys European shed developer unit
ProLogis, the world leader in managing and developing distribution facilities, has acquired the industrial development business of Parkridge, a European rival, for EUR 447 mln. In a separate transaction, Parkridge's joint venture partner has agreed to sell its 50% stake in the Central European joint venture to ProLogis for EUR ...
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PropertyEU Archive
Correction: Sonae Sierra and S. Joao da Madeira mall
Our article published on 9 February about shopping and leisure centre 8ª Avenida in S. João da Madeira, Portugal incorrectly stated that the mall had 'opened its doors'. The plans were presented by Sonae Sierra to the public last week and the mall is scheduled to open in the autumn ...
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PropertyEU Archive
Poland's RRT issues new retail data
A total of 94,100 m[sup]2[/sup] of retail space has been delivered in Poland in the second half of 2006, according to the Retail Research Forum (RRT), a consortium of real estate agencies including CB Richard Ellis, Colliers International, C&W, DTZ, Jones Lang LaSalle and King Sturge.
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PropertyEU Archive
Sal Oppenheim launches European property fund of funds
Sal Oppenheim's Swiss property investment banking arm has launched the 41P European real estate fund of funds to invest in non-listed European real estate funds and to set up a broadly diversified portfolio of indirectly-held properties. The fund will pursue a conservative investment strategy and is aiming for a total ...
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PropertyEU Archive
France to work with Vietnam on land registry
The Superior Council of French Notaries (CSN) has offered to help Vietnam develop a modern notary system for real estate management. Jean Paul Decorps, honorary president of the CSN, made the offer during a recent meeting with Ai Truc, the Vietnamese minister of national resources and the environment. Minister Truc ...
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PropertyEU Archive
Astroc to raise EUR 2 bn for international plans
Valencia-based property group Astroc Mediterraneo has announced it will raise as much as EUR 2 bn by issuing new shares to finance expansion abroad. In a statement to Spanish stock market regulator CNMV, the company said its board has already got approval during a shareholder meeting on Monday for the ...
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PropertyEU Archive
Citycon places 25m shares to fund expansion
Helsinki-based Citycon has placed 25 million shares, approximately 15% of the company's share capital, with Finnish and international investors in an accelerated book-building offering. The process began on Monday and was due for completion by 6.30pm on Tuesday. The offer price was not disclosed. Citycon's board said in a statement ...
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PropertyEU Archive
IVG set to issue EUR 400 mln convertible bonds
German IVG Immobilien is planning to raise EUR 400 mln by selling convertible bonds to finance further acquisitions, IVG informed in a press release issued on Tuesday. The bonds, with a maturity of 10 years, will be convertible into about 11.6 million shares for each bond.
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PropertyEU Archive
Befimmo in EUR 600 mln refinancing proposals
Brussels-based real estate investment vehicle Befimmo has asked 15 banks to come up with a EUR 600 mln refinancing proposal, Belgium daily De Standaard reported. The lenders will formulate proposals involving a capital hike by issuing shares or an equity-linked product, debt refinancing and the possibility to taking a co-investor ...
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PropertyEU Archive
Develica acquires Blue Star office portfolio
Develica Deutschland has exchanged contracts to acquire the Blue Star portfolio in Germany for EUR 266.3 mln in cash. It is understood that the properties are owned by Hamburg-based capital investment company Deutsche Fonds Holding (DFH). However, DFH has not made any comment.
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PropertyEU Archive
AMF may block Credit Foncier bid
Saving banks consortium Groupe Caisse d'Epargne and French property company Nexity have begun 'exclusive negotiations' to set up a major property group by July 2007, with Groupe Caisse d'Epargne merging its Credit Foncier real-estate financing unit with Nexity.
