All Real Assets articles in Web Issue – Page 498
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PropertyEU Archive
Oslo Areal acquires office building in Stavanger for EUR 50m
Property company Oslo Areal has completed the acquisition of the Kanalpiren office building in the Norwegian city of Stavanger for NOK 410 mln (EUR 50.5 mln). The building was sold by Hinna Park, a wholly owned subsidiary of Fornebu Utvikling (FBU) - formerly Scandinavian Property Development. Settlement took place on ...
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PropertyEU Archive
Skanska sells Flat Iron project in Stockholm for EUR 85m
Skanska Commercial Development Nordic has sold the Flat Iron Building office project in Stockholm to Swedish real estate company Norrporten for SEK 850 mln (EUR 84.7 mln). The handover of the project is scheduled to take place in March 2010.
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PropertyEU Archive
Focus Nordic Cities plans new acquisitions in Northern Europe
Focus Nordic Cities, an open-ended real estate fund managed by Catella Real Estate AG KAG, is planning to make new acquisitions in Northern Europe with purchases in Helsinki, Copenhagen and Hamburg slated for the next couple of months.
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PropertyEU Archive
Occupier markets show signs of cautious optimism
Europe’s economies continue to show encouraging signs of economic recovery, according to Jones Lang LaSalle’s Q4 2009 European Property Clock. However, the time lag between the wider economy and European office occupier markets remains evident. There are also significant differences between markets in terms of their position in ...
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PropertyEU Archive
Wereldhave eyes Unibail-Rodamco's Dutch portfolio
Wereldhave has announced it is in talks with Unibail-Rodamco regarding a possible purchase of a number of Dutch shopping centres. The talks are reportedly centred on the Franco-Dutch company's smaller shopping centres in the Netherlands with a minimal surface area of 25,000 m[sup]2[/sup]. Analysts are ruling out the possibility that ...
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PropertyEU Archive
German property market remains weak: RICS
The near-term outlook for the German commercial property market remains a little downbeat, according to the latest Global Real Estate Weekly report from RICS. Capital values and rents are expected to continue edging lower, according to the RICS survey.
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PropertyEU Archive
SFL sees 2009 losses narrow to EUR 252m
French commercial property company Société Foncière Lyonnaise (SFL) reported net losses narrowed by 36% in 2009 to EUR 252 mln. '2009 saw a further improvement in operating indicators thanks to firm rental revenues and reductions in both operating expenses and financing costs', the company said in a statement.
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PropertyEU Archive
Nordic investment rebounds in Q4 2009
Nordic commercial real estate investment turnover grew to EUR 5 bn in the second half of 2009, up 60% on the first half of the year, according to figures from CB Richard Ellis. The rebound was witnessed across all Nordic markets and is confirmation that investor interest is spreading across ...
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PropertyEU Archive
BNP Paribas RE sees UK retail outperforming in 2010
UK retail property will be the ‘winner’ in 2010 with a 4.5% rise in capital values across both prime and secondary assets in the sector, according to the latest economic forecasts of BNP Paribas Real Estate. By comparison, the adviser is forecasting capital values in the office sector will grow ...
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PropertyEU Archive
Belgian property investment soars 205%: Savills
Investment levels in Belgium increased by up to 205% in the fourth quarter of 2009 compared with the previous quarter, totalling EUR 430.6 mln, according to a report published by property advisor Savills.
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PropertyEU Archive
Colonial to refinance EUR 4.9 bn of debt
The board of troubled Spanish real estate developer Colonial has approved the terms and conditions of a plan to restructure around EUR 4.9 bn of debt. In a statement to the Spanish stock market regulator CNMV, Colonial said that it will continue to negotiate with its creditor banks to receive ...
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PropertyEU Archive
Mazabi Gestion buys EUR 40m London hotel
Spanish company Mazabi Gestion de Patrimonios has acquired the Abba Queen's Gate hotel in Kensington, London valued at around EUR 40 mln. The property was bought through a sale-and-leaseback agreement with hotel operator Abba.
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PropertyEU Archive
Reyal Urbis to swap debt for EUR 400m of property
Spanish real estate company Reyal Urbis said it is negotiating a deal with its creditor banks to exchange debt for around EUR 400 mln worth of real estate. In a statement to the Spanish stock market regulator CNMV, the company said that the operation is part of its large plan ...
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PropertyEU Archive
Altarea sells Toulouse mall to Commerz Real for EUR 90m
French commercial property group Altarea said that it has signed a preliminary agreement to sell the Espace Saint-Georges shopping centre in Toulouse, France to German open-ended fund manager Commerz Real for EUR 90 mln.
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PropertyEU Archive
Aberdeen fund acquires shopping centre in Finland
Aberdeen Property Investors said on Monday that its European Balanced Property Fund has acquired the Chydenia-I shopping centre in Kokkola, Finland, from Rockspring PIM. Financial details were not disclosed.
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PropertyEU Archive
RBS set to book losses on German property portfolio: FT
Royal Bank of Scotland is poised to book a loss of several hundred million pounds after being forced to take back the keys on £1.8 bn (EUR 2.1 bn) in German properties bought by a fund run by Morgan Stanley, according to an unconfirmed report in the Financial Times.
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PropertyEU Archive
M1 completes largest London West End deal since 2007
Lebanese group M1 Real Estate has acquired Victoria House in Bloomsbury Square, London from Irish-based Moritz Group for about £175 mln (EUR 201 mln). Jones Lang LaSalle, which advised M1, said this was the largest office deal in the West End market since 2007. 'M1 secured the deal in front ...
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PropertyEU Archive
Silic acquires 14,500 m[sup]2[/sup] building in Nanterre
French business park owner Silic has acquired an office building with 14,500 m[sup]2[/sup] of space in Nanterre from CBRE Investors. The property, located at 21/29 Trois Fontanot, is fully rented out to French electricity company RTE and the social security assistance provider Epasa. According to market sources, the transaction price ...
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PropertyEU Archive
Sjælsø sells projects in Ballerup and Ørestad for EUR 22m
Sjælsø Gruppen announced on Tuesday that it has sold two projects in Denmark for a total of DKK 165 mln (EUR 22 mln). The listed Danish developer sold an office building in Ballerup to Dansk Ejendomsfond I for DKK 75 mln. IT assessment and certification group UL International has ...
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PropertyEU Archive
Fimit's Alpha Fund sells EUR 26m property in Rome
Fondo Alpha Immobiliare, a real estate investment vehicle managed by Italy's Fimit, has completed the sale of an office and retail property located on Via Cristoforo Colombo 70 in Rome, for an amount of EUR 25.5 mln. The buyer is an undisclosed private investor.
