All Real Assets articles in Web Issue – Page 501
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PropertyEU Archive
Invesco buys 5 European hotels for EUR 154m
French hotel group Accor has divested five hotel properties with over 1,100 rooms in four European countries to Invesco Real Estate for a total of EUR 154 mln. In a statement on Friday, the hotel group said the move is 'part of the ongoing deployment of its asset-right strategy, with ...
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PropertyEU Archive
MGPA winds up 1999 vintage fund
MGPA, the private equity real estate investment advisory company, has wound up its Global Fund I, an opportunistic $480 mln global fund which delivered strong returns to investors and culminated in the successful sale of $5 bn of assets. The fund is one of the first of its time to ...
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PropertyEU Archive
Colonial to launch EUR 2b capital hike
Spain's Inmobiliaria Colonial will seek to raise EUR 1.95 bn of fresh capital as part of a long-awaited refinancing deal closed last week with creditors. In a statement on Friday to the stock market regulator, the troubled real estate company said it has reached a final and binding agreement with ...
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PropertyEU Archive
Union Investment to invest up to EUR 2 bn in 2010
Union Investment expects to invest between EUR 1.5-2 bn in European real estate this year, roughly in line with last year’s total volume, chairman of the board Reinhard Kutscher said in an interview with PropertyEU. The focus will be on core markets, he added, pointing to the UK, France and ...
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PropertyEU Archive
FDR sees 2009 losses narrow to EUR 262m
French office-focused group Fonciere des Regions reporeted losses narrowed to EUR 262 mln in 2009, from EUR 556.5 mln a year before. The Metz-based property group saw its net asset value (NAV) drop 18% year-on-year, mostly reflecting writedowns in the first half of the year. In H2 2009, NAV increased ...
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PropertyEU Archive
Corio has EUR 617 mln warchest for Multi portfolio
Retail specialist Corio has a warchest of EUR 617 mln for a potential acquisition of part of Multi Corporation's portfolio. As announced earlier, Corio is interested in gaining a stronger foothold in the German market.
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PropertyEU Archive
Mercialys to buy Grenoble mall for EUR 92m
French SIIC Mercialys said it is buying the Caserne de Bonne shopping centre in Grenoble for around EUR 92 mln. The retail specialist expects to sign the final purchase agreement during the second half of 2010.
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PropertyEU Archive
Hammerson books lower writedowns and losses
Anglo-French property investor Hammerson said on Monday that its 2009 net loss narrowed to £344.5 mln (EUR 390.8 mln) from £1.57 bn a year ago. Property sales pushed net rental income down by 2.1% to £293.6 mln, but the figure was up 1.1% on a like-for-like basis.
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PropertyEU Archive
CBRE named one of top global outsourcers
The International Association of Outsourcing Professionals (IAOP) has named CB Richard Ellis Group, Inc. to The 2010 Global Outsourcing 100 for the fourth consecutive year. The list recognises the world’s best outsourcing service providers across all industries, and is based on applications received and evaluated by an independent panel of ...
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PropertyEU Archive
London & Stamford sells Leeds property
London & Stamford Property Limited has announced the sale of No. 1 Whitehall Riverside, Leeds to the NFU Mutual Insurance Society Limited for £51.3 mln (EUR 58.3 mln). The 129,514 sq ft prime office building is multi-let to seven tenants including Cobbett's LLP, Mellon Analytical Solutions, Europe and Grant Thornton ...
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PropertyEU Archive
Icade completes La Lucette takeover, posts 70% rise in profits
French SIIC Icade said it has completed the purchase of the 94.5% stake in Compagnie La Lucette from Morgan Stanley's MSREF vehicle. The operation, which was first announced in December, envisaged the exchange of two Icade shares and EUR 32.5 in cash for 21 Lucette shares. As a result of ...
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PropertyEU Archive
Star Inn acquires Hotel Columbus in Bremen
European hotel operator Star Inn Hotels Group has acquired the leasehold interest of the Hotel Columbus in Bremen for an undisclosed amount. Christie + Co acted for the private investor who sold the property.
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PropertyEU Archive
Regus acquires BFI business centres from Affine
French property company Affine has announced the sale of its business centre unit, Business Facility International (BFI) to Regus. A Regus spokesperson said on Monday that the companies have agreed not to disclose the transaction price.
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PropertyEU Archive
Alstria Office enters JV to refurbish Hamburg's Kaisergalerie
Alstria Office REIT has agreed the terms of a joint venture with Hamburg-based developer and fund manager Quantum Immobilien to refurbish the Kaisergalerie in Hamburg. The asset is located in one of Hamburg's prime areas called Große Bleichen. Within the framework of the joint venture, Alstria sold a 51% stake ...
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PropertyEU Archive
Eurohypo appoints insider to head corporate banking Continental Europe
Stéphane Adolf is to head up the commercial real estate banking division for Continental Europe at German property financier Eurohypo. He succeeds Hartwig Glatzki who will take early retirement after 28 years at the bank.
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PropertyEU Archive
Vinci sells Lyon building to Banque de France
The real estate unit of French construction group Vinci has sold the Bayard office project in Lyon to the Banque de France. The financial details were not disclosed.
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PropertyEU Archive
Major cities hit by decline in prime office rents: C&W
The world's leading centres have suffered an unprecedented decline in demand for office space which has contributed to the first aggregated global fall in prime office rents since 2003. Global real estate adviser Cushman & Wakefield, in its new Office Space Across the World report, says that 2009 recorded ...
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PropertyEU Archive
ECE opens glass-topped Rathaus-Galerie in Leverkusen
German inner-city shopping centre specialist ECE opens its EUR 200 mln Rathaus-Galerie in Leverkusen, Germany on Wednesday. ECE said the project's 'architectural flagship', a glass rotunda, is visible from a long distance from the shopping scheme.
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PropertyEU Archive
Norwegian Property to split up into office and hotel firms
Oslo-based Norwegian Property has initiated a process to split into two independent firms, one for office and the other to manage its hotel portfolio. The move follows the completion of a strategic review.
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PropertyEU Archive
McArthurGlen opens La Reggia outlet near Naples
McArthurGlen, a developer, owner and manager of designer outlet villages, opened its fifth designer outlet village in Italy last week. La Reggia Designer Outlet is the first retail outlet in the region of Campania. The outlet village is located 30 km north of Naples.
