All Real Assets articles in Web Issue – Page 52
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PropertyEU Archive
Multi in Swiss retail centre development
Netherlands-based Multi Development has teamed up with Vivico Real Estate in Frankfurt for its first retail project in Switzerland. The 30,000 m[sup]2[/sup] complex will be developed in Basel as part of Erlenmatt, a new district being developed by Vivico. German property newspaper Immobilien Zeitung reported that Vivico will also act ...
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PropertyEU Archive
M&A developing office in Poland
M&A Commercial Building Investment is poised to develop a modern office building within the Chopin Business Center in the western Polish city of Gorzow Wielkopolski. The three-storey property, designed by the local studio K2 Biuro Architektoniczne, will comprise 7,000 m[sup]2[/sup] of space and 60 parking spaces. M&A is currently in ...
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PropertyEU Archive
Gecina to set up logistics, residential subsidiaries
Gecina, the largest player in France's office market, has ploughed more than EUR 1 bn into logistics and healthcare property in 2006 as part of its strategic diversification. Logistics, healthcare and hotels now represent 7% of Gecina's overall business and this is expected to grow to 16% in 2007, Gecina, ...
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PropertyEU Archive
Sackville submits plans for major Reading scheme
Sackville Developments, a unit of Sackville Properties, has submitted plans for its EUR 743 mln Station Hill scheme in Reading, near London. The property investment and development company is planning a 130,060 m[sup]2[/sup] mixed-use scheme to be developed near Reading's station in the heart of the town.
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PropertyEU Archive
BLD to raise EUR 22 mln for future investment
Bulgarian Land Development (BLD) is to raise £15 mln (EUR 22.2. mln) through a placing of 15 million new ordinary shares at £1 each in London. Shareholders are to vote on the board's proposal at an extraordinary meeting on March 14, 2007. The company is planning to use the ...
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PropertyEU Archive
Moscow to get 25 new theatres
Twenty five theatre buildings will be developed in the Russian capital and a further 18 are to be renovated, the head of Moscow's culture committee, Sergei Khudyakov, has announced. 'The Moscow government works constantly to improve the city's cultural establishments,' he said. Construction of the Stanislavsky and Nemirovich-Danchenko State ...
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PropertyEU Archive
Fonciere des Regions poised to buy 35% of Beni Stabili
Fonciere des Regions (FDR) is to launch an all-share bid to acquire a 34.6% stake in Italy's second-largest real-estate company, Beni Stabili, from Delfin, a company controlled by Beni Stabili's chairman Leonardo del Vecchio. Fonciere Des Regions, France's fourth- biggest real estate investment trust, will also launch a mandatory exchange ...
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PropertyEU Archive
Billa Romania eyes expansion
Retailer Billa Romania, a subsidiary of German Rewe, is planning to expand its supermarket chain by eight to 10 outlets in 2007. The company's ceo Wolfgang Janisch said it will invest an average of EUR 5 mln in each supermarket, and plans to open new outlets in cities including Medias ...
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PropertyEU Archive
JER, IPAM buy German portfolio
JER Partners has set up a joint venture with Germany's International Property Asset Management (IPAM) to purchase three commercial properties in the north of Germany from a mortgage bank for EUR 18.5 mln. The transaction represents the first step for US-headquartered JER Partners towards the development of a commercial property ...
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PropertyEU Archive
Challenger Financial forms European joint venture
Australia's Challenger Financial Services Group has entered into a joint venture with Protego Real Estate Investors, a London-based real estate manager and investor, to expand its position in Europe. 'The European market represents a significant opportunity for our asset management division to secure high quality assets that offer returns consistent ...
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PropertyEU Archive
Sonae Sierra, Miller join forces in Granada complex
International retail developer Sonae Sierra and British company Miller Developments have established a joint venture for the construction of a new shopping and leisure centre in the Las Pulianas district of Granada, southern Spain. The total investment for the project will be EUR 107 mln.
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PropertyEU Archive
Core shareholders set to split up Metrovacesa
Metrovacesa's chairman Joaquin Rivero and the Sanahuja family are planning to split up Spain's largest developer in an agreement that will end a year-long battle for control of Metrovacesa. Under the plan, Rivero and his investor partner Bautista Soler will become 'reference shareholders' of France's Gecina, in which Metrovacesa holds ...
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PropertyEU Archive
Sainsbury talks rumour dismissed as 'red herring'
A newspaper report suggesting that Marks & Spencer has been in talks with Three Delta and Delta Two funds to launch a bid for the UK's third-largest supermarket chain Sainsbury have been dismissed as a 'red herring'.
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PropertyEU Archive
Dransfield set to re-develop Manchester site
Manchester city council has approved a plan by urban regeneration specialist Dransfield Properties for a £40 mln (EUR 60 mln) redevelopment of the Openshaw district of the city. The project involves the development of a new town centre comprising a large food store, 13 retail units, office accommodation and a ...
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PropertyEU Archive
Quinlan Private snaps up prime Munich property
A consortium of investors led and advised by the international property investment and advisory group Quinlan Private has acquired the Maximilianhofe complex, a flagship property on Munich's Maximilianstrasse, from Doughty Hanson & Co Real Estate for EUR 270 mln.
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PropertyEU Archive
Skanska pulls out of Russia
Swedish construction giant Skanska is pulling out of Russia to focus on more profitable markets in Europe and in the Americas. Skaska has been in Russia since 1902, but the Russian market only accounts for half a percent of the company's revenues.
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PropertyEU Archive
ProLogis pre-leases 10,700 m[sup]2[/sup] in Romania
ProLogis has pre-leased 10,700 m[sup]2[/sup] of industrial space in Bucharest to Kuehne + Nagel, a provider of third-party logistics services. Kuehne + Nagel will occupy space at ProLogis Park Bucharest A1, a new industrial park ProLogis is developing along Bucharest's A1 motorway. The facility is due to completion in the ...
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PropertyEU Archive
European investment reaches EUR 242 bn - JLL
Direct investment in European real estate reached a record EUR 242.2 bn in 2006, up 39% on the year before, according to Jones Lang LaSalle's latest European Capital Markets Bulletin. This figure represents the biggest volume increase (EUR 68 bn year on year ) ever recorded.
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PropertyEU Archive
Land Securities reckons on £315 mln conversion charge
Land Securities has estimated that it will have to pay a £315 mln (EUR 467 mln) conversion charge to the inland revenue in the UK next July following the company's decision last January to become a real estate investment trust (REIT). The charge represents 2% of the value of its ...
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PropertyEU Archive
Euroffice in third European acquisition
Investment manager Curzon/IXIS AEW Europe has acquired a 20,500 m[sup]2[/sup] office building in Hamburg for its pan-European Euroffice fund. The financial details of this transaction have not been disclosed. The asset is located in the Neuer Huhnerposten area of the city of Hamburg near the main railway station. It was ...
