All Real Assets articles in Web Issue – Page 51
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PropertyEU Archive
Hochtief to manage 150 Generali assets
Essen-based Hochtief will take over the management of 150 properties owned by AMB Generali Immobilien, the third-largest direct insurance company in Germany and a subsidiary of Italy's Assicurazioni Generali. Several of the assets, which are spread across Germany, have been developed by Hochtief. The contract is initially for a period ...
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PropertyEU Archive
Ireland's Blackrock to invest EUR 200 mln
Irish listed property company Blackrock International Land has reported pre-tax profits of EUR 13.9 mln for the period since it was spun off from fruit distributor Fyffes in May 2006. Its property assets grew by 87% over the same period. Carl McCann, Blackrock's chairman, said the company is targeting EUR ...
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PropertyEU Archive
Hungary seeks bids for EUR 260 mln government complex
The process opened in Hungary on Thursday for tenders to design and build a new 30-hectare complex in Budapest to house most government departments. Bids will be accepted up to the end of May and the winner will be announced in mid June, the head of the evaluation committee told ...
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PropertyEU Archive
Halladale, Citigroup buy mall for EUR 40 mln
Halladale Group and Citigroup's real estate investment arm Citigroup Property Investors (CPI) have acquired the Crown Glass shopping centre in Nailsea, south-western England, for EUR 40 mln. The price reflects a net initial yield of 5.5%.
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PropertyEU Archive
Banif acquires Paris office
Spanish bank Banif, a subsidiary of Santander Group, has acquired an office building located at 33 Rue Galilee in the 16th arrondissement of Paris for EUR 21.4 mln. The 2,224 m[sup]2[/sup] property is let to the European Business Centre. The transaction value reflects an initial yield of about 4.4%.
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PropertyEU Archive
Magnetti plans to revamp industrial area
Italy's Magnetti, a 200-year-old company specialising in the production of bricks, has made a joint call with the northern municipalities of Cisano Bergamasco and Pontida for architects and development companies to help regenerate an industrial area of 150,000 m[sup]2[/sup] that was previously occupied by Magnetti's factories.
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PropertyEU Archive
BPD snaps up major site in Sofia
Bulgarian Property Developments (BPD) has completed the purchase of a major site in Bulgarian capital Sofia. The contracts were exchanged on July 7, 2006. The site is half-way between the southern section of the inner-city ring road and the centre of Sofia, well located for a business and retail development.
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PropertyEU Archive
Office development shifts to Bucharest's outskirts
Office developers have started to orient towards the outskirts of Bucharest because of the scarcity of quality plots in the centre of the Romanian capital. Over 200,000 m[sup]2[/sup] of mostly Class A office space will be delivered in Baneasa, north of Aurel Vlaicu airport, within the next two to three ...
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PropertyEU Archive
LaSalle IM buys offices in Munich
LaSalle Investment Management has acquired an office complex in the centre of Munich for close to EUR 16 mln. The property comprises 5,000 m[sup]2[/sup] of office space, of which some 15% is leased to Dresdner Bank.
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PropertyEU Archive
Fabege purchases Stockholm complex
Sweden's Fabege has acquired a fully occupied office-educational property from peer Akademiska Hus for EUR 41.6 mln. The Mimer 5 complex, located in the capital city of Stockholm, has a gross lettable area of 12,100 m[sup]2[/sup] and is 'in good condition after a thorough renovation a few years ago', Fabege ...
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PropertyEU Archive
Parcoval up for sale
French real estate company Societe de la Tour Eiffel is in talks to acquire the property group Parcoval for EUR 110 mln. The firm owns six business parks providing some 80,000 m[sup]2[/sup] and 30,000 m[sup]2[/sup] of build-on land. The transaction should generate rents of about EUR 8 mln per annum, ...
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PropertyEU Archive
Wichford seeks EUR 111 mln for European expansion
AIM-listed property investment company Wichford has announced it will place 35.4 million shares at 212 pence a piece to raise EUR 111 mln (£75 mln) to expand its portfolio in the UK and to fund acquisitions in continental Europe. Chairman Michael Sheehan said the company had decided to enter the ...
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PropertyEU Archive
NEPR spends EUR 134.8 mln on sheds and hotels
Northern European Properties (NEPR), a real estate investor active in the Nordic and Baltic regions, has purchased two property portfolios for EUR 134.8 mln from LR Nordic Properties, a subsidiary of the London & Regional group.
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PropertyEU Archive
Irish investors buys UK mall for EUR 139 mln
The BHL consortium of Irish investors has acquired the Pentagon Shopping Centre in the Kent town of Chatham in the UK for EUR 139 mln. The 30,657 m[sup]2[/sup] shopping centre is anchored by Sainsbury's and Wilkinston. BHL plans to redevelop and expand the property. The acquisition is the first stage ...
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PropertyEU Archive
Rome to get Europe's 2nd largest tourist centre
Construction is to start shortly on the Valmontone Tourist centre, a mixed-use scheme 50 km south of Rome. Italy's Investeco will invest EUR 165 mln in the hotel and conference centre situated within the new 200-hectare tourist complex, which will also feature a EUR 300 mln theme park, Europe's ...
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PropertyEU Archive
Hochtief contracted to manage 260 Commerzbank outlets
Germany's Hochtief Facility Management will take over the management of 260 Commerzbank outlets located in the south and southwest of Germany over the next four years. The statement follows a press release issued on Thursday by Hochtief's subsidiary regarding the handover of 150 properties owned by AMB Generali Immobilien, the ...
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PropertyEU Archive
SPD raises EUR 370 mln through private placing
Scandinavian Property Development (SPD), a new company established by the financial group SEB Enskilda and Aberdeen Property Investors, has raised EUR 370 mln through a private placing with international investors. The company said the 'highly successful,' equity offering was four times oversubscribed and attracted more than 230 investors from ...
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PropertyEU Archive
Niam, the Whitehall Funds acquire EUR 400 mln portfolio
Sweden's Niam Fund III and the Goldman Sachs-managed Whitehall Street Real Estate Funds have acquired a property portfolio from the Finnish real estate company Sponda for about EUR 400 mln. The portfolio consists of parts of the Kapiteeli portfolio, the office and retail portfolio sold by the Finnish government in ...
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PropertyEU Archive
Macquarie Goodman plans EUR 600 mln UK logistics fund
Australian industrial real estate investor Macquarie Goodman plans to launch a major UK logistics fund next year. The fund will be seeded with assets worth AUD $1 bn (EUR 598 mln), but the total amount could grow quickly due to acquisitions and developments in the pipeline, ceo Greg Goodman said ...
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PropertyEU Archive
Zara moves into Canary Wharf
Spanish fashion group Inditex is to anchor a new retail development in London's Canary Wharf business estate. Inditex has taken Unit 9, totalling 1,765 m[sup]2[/sup] spanning three floors, on a 15-year lease in the retail development at Cabot Place West. The space will house new outlets for Inditex's Zara and ...
