All Real Assets articles in Web Issue – Page 504
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PropertyEU Archive
F&C REIT purchases retail arehouses for EUR 20m
F&C REIT Asset Management has exchanged contracts to acquire retail warehouses in Ipswich and Luton, both let to Homebase, for a combined total of £18 mln (almost EUR 20 mln).
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PropertyEU Archive
Viveris Reim set to boost its OPCI business in 2010
French fund manager Viveris REIM unveiled plans to strengthen its OPCI fund management business this year through the creation of new partnerships with French corporates looking to divest their real estate. The company said it plans to carry out investments of over EUR 200 mln in 2010, mostly focused on ...
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PropertyEU Archive
KKR buys 250 UK stores
CB Richard Ellis (CBRE) said that it has advised private equity firm Kohlberg Kravis Roberts (KKR) on the purchase of British retailer, Pets at Home, from Bridgepoint and other co-investors for £955 mln (EUR 1 bn). The deal represents one of the largest private equity transactions of the past few ...
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PropertyEU Archive
Prupim acquires UK retail park from Henderson at 5.3% yield
Prudential Property Investment Managers (Prupim) has exchanged contracts to acquire the Stanley Green Retail Park in Wilmslow, Manchester for £47 mln (EUR 52 mln). The investment volume reflects a net initial yield of 5.3%, the lowest achieved for a retail park in the current market cycle.
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PropertyEU Archive
Pension funds acquire NCC projects in Denmark
Swedish construction firm NCC has sold an office project in the Danish capital Copenhagen to pension fund investor PFA Ejendomme. The transaction relates to the development of a new green head office building for the Danish IT company NNIT. The total investment in the project amounts to approximately SEK 900 ...
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PropertyEU Archive
Activum, Stam Europe buy building in Hannover
European real estate investors Activum SG and Stam Europe have jointly acquired a 19,500-m[sup]2[/sup] office building in the German city of Hanover from Immobilienverwaltungsgesellschaft Grammophon Büropark.
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PropertyEU Archive
Nexity targets expansion after curbing debt burden
French listed property developer Nexity will look to expand its activities particularly in the commercial property segment in 2010 after a year spent rebuilding its balance sheet. The company said it was able to significantly improve its financial position in 2009, curbing its net debt by EUR 668 mln over ...
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PropertyEU Archive
Sparkassen's Sun Plaza opens in Bucharest
Austrian property group Sparkassen Immobilien has announced the opening of its flagship Sun Plaza shopping centre in the Romanian capital. The project represents a partnership of the Vienna-based developer with the Romanian-French property company EMCT. The construction of Sun Plaza started three years ago and involved an investment of some ...
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PropertyEU Archive
European housing shows signs of recovery: RICS
The residential markets of Ireland, Spain and Greece were the worst performers in 2009, alongside most central and eastern European countries and the Baltic States where prices declined between -27% to -53%. Nevertheless, signs of recovery are visible in some European housing markets, especially in sales levels and prices, according ...
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PropertyEU Archive
RREEF confirms acquisition of Park Tower in Frankfurt for EUR 123m
RREEF Investment confirmed on Wednesday that the acquisition of the office building Park Tower in Frankfurt/Main has been completed. The property had been purchased from a Morgan Stanley fund at the end of December 2009 at a cost of around EUR 123 mln for the open-ended real estate fund grundbesitz ...
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PropertyEU Archive
Meyer Bergman buys 50% stake in Bentall Centre
Meyer Bergman has acquired a 50% stake in The Bentall Centre, one of London’s most high profile shopping centres, from Aviva for around £130 mln (EUR 143.3 mln).
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PropertyEU Archive
JLL advises on EUR 76m mall sale in Woking
Jones Lang LaSalle's Shopping Centre Investment team has advised IM Properties on the sale of Wolsey Place Shopping Centre in Woking to Woking Borough Council for £68 mln (about EUR 75.8 mln). The investment volume reflects a net initial yield of 8.2%. Woking Borough Council is the freeholder.
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PropertyEU Archive
DTZ Zadelhoff advises on Dutch portfolio sale
Property adviser DTZ Zadelhoff announced that it acted for the property management arm of Dutch insurer ASR in the recent sell-off of a residential portfolio valued at about EUR 86 mln. The Dutch arm of DTZ said its local network of offices put ASR Vastgoed Vermogensbeheer in contact with many ...
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PropertyEU Archive
Alitalia puts five office buildings on the market
Italy's airline group Alitalia has started the sale of a number of office properties in Italy and abroad. The company said its administrator Augusto Fantozzi will manage the procedure which involves the sale of five office buildings located in Sesto San Giovanni (near Milan), Barcelona, Vienna, Buenos Aires and Sao ...
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PropertyEU Archive
Savills to sell Irish embassy in Brussels
International real estate adviser Savills has been exclusively instructed to sell the former Irish Representation headquarters located on Rue Froissart 83 in the Leopold district of Brussels.
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PropertyEU Archive
CBRE to sell Grosvenor House Hotel
CBRE Hotels has been exclusively appointed to sell the Grosvenor House Hotel in London, the adviser announced in a press release. The Grosvenor House is the largest hotel asset to ever come to the EMEA market, the adviser added.
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PropertyEU Archive
Heads roll at German fund manager Degi
Bärbel Schomberg and Malcolm Morgan have stepped down from the board of managing directors at German fund manager Degi. According to a press release, the pair have decided to step back from their present positions 'for personal reasons'. The news of their resignation comes hard on the heels of massive ...
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PropertyEU Archive
LaSalle IM gears up to seize European opportunities
LaSalle Investment Management has announced that Susan Lloyd-Hurwitz has been appointed to the newly created role of managing director, Europe, and will be the newest member of LaSalle's nine person Global Management Committee. Lloyd-Hurwitz will also be an international director of LaSalle's parent Jones Lang LaSalle.
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PropertyEU Archive
Sberbank sells Alpi stores for $117m
Russian state-owned lender Sberbank has divested 23 Alpi supermarkets in an auction for $117 mln (EUR 86 mln). The retail properties were formerly owned by local retail and property development group Alpi and transferred to Sberbank at the end of 2009 in exchange for unredeemed debt. According to news reports ...
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PropertyEU Archive
Westimmo provides EUR 91m funding for Bentall Centre deal
German lender Westimmo has announced it provided an £82.6 mln (EUR 91 mln) loan to support Meyer Bergman's purchase of a 50% interest in the prestigious Bentall Centre in Kingston, London from Aviva Investors.
