All Real Assets articles in Web Issue – Page 520
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PropertyEU Archive
Servicer lodges negligence claim over Gateshead Metro Centre
Hatfield Philips International (HPI), Europe's largest independent Primary and Special Servicer, has launched a change of usage investigation and served a valuer negligence claim relating to Gateshead Metro Centre.
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PropertyEU Archive
MAB and Neinver seal outlet centre jv
Netherlands-based MAB Development and Spanish outlet centre operator Neinver have signed a joint venture to cooperate on the development of Factory Outlet Centres (FOCs) in France and Germany.
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PropertyEU Archive
Finland's Technopolis expands into Estonia
Finnish property company Technopolis said it is stepping into the Estonian market with the acquisition of a 51% stake in a 70,000 m[sup]2[/sup] portfolio valued at EUR 63.5 mln.
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PropertyEU Archive
Guido Piñol joins IVG from Fortress
Guido Piñol is leaving Investment Group in Germany to take responsibility of IVG Immobilien's on-balance-sheet real estate business. He is replacing Rüdiger von Stengel, who is leaving the largest listed real estate group in Germany after seven years.
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PropertyEU Archive
2010 set to be best years of cycle to sell: Savills
2010 could be the best year of the cycle for current vendors of leisure assets to sell as a result of a wider than usual spectrum of buyers entering the market, according to the latest commercial leisure bulletin from Savills
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PropertyEU Archive
Commerz Real puts £260m City office on the market
German open-ended fund manager Commerz Real has put its 10 Aldermanbury office building in the City of London on the market with a price tag of £260 mln (EUR 300 mln), market sources told PropertyEU. The asking price is said to reflect a yield of 5.5%.
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PropertyEU Archive
Estavis acquires site for EUR 65m residential development
German residential property specialist Estavis has acquired a property of around 37,600 m[sup]2[/sup] in Berlin comprising several listed buildings in the direct vicinity of the Spree. The listed properties on the site of the former Glanzfilmfabrik, a film factory in Köpenick, is to undergo high-quality renovation and conversion. Some 230 ...
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PropertyEU Archive
MAB and Neinver's Honfleur outlet centre wins Magdus award
The Honfleur The Style Outlets, the outlet centre developed by MAB Development and Neinver urban planner-architect Edouard François, has been awarded the 2010 award in the best project category at the Magdus conference, the European meeting on factory outlet centres.
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PropertyEU Archive
LaSalle invests in Bavarian retail centres
LaSalle Investment Management has acquired a total of seven retail centres in Bavaria, Germany for its LaSalle German Income and Growth Fund (LGIG). All the assets are new developments and have been leased on a long-term basis to national retailers, including REWE, Edeka, Lidl and Rossmann.
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PropertyEU Archive
Election jitters unsettle UK market: C&W
Real estate investors operating in the UK grew slightly more cautious during March, with the budget in particular focussing minds on what may lie ahead and the uncertainty of an election period, according to Cushman & Wakefield's latest UK business briefing.
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PropertyEU Archive
Investors turn to Spanish retail parks: Savills
Investors looking to satisfy an appetite for retail parks have turned to Spain, where international real estate advisor Savills predicts that transaction volumes could reach between EUR 70 and EUR 100 mln in 2010, up considerably from a total of EUR 19 mln in 2009.
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PropertyEU Archive
Office letting in Frankfurt hits low in Q1
The total letting performance in Frankfurt in the first quarter of 2010 came to just under 55,000 m[sup]2[/sup] of office space - the second-worst result since 2002, property adviser NAI apollo said on Monday. In the first quarter of 2004, an even lower figure - of 36,500 m[sup]2[/sup] - was ...
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PropertyEU Archive
Gedeco Avantis sells H2Ocio mall for EUR 84m
Spanish family-owned real estate group Gedeco Avantis has sold the H2Ocio shopping centre in Rivas near Madrid for around EUR 84 mln. Well-informed market sources told PropertyEU that the buyer is Alpha Pyrenees Trust, a closed-end real estate fund focusing on investment in France and Spain. Alpha Pyrenees declined to ...
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PropertyEU Archive
Land Secs acquires O2 Centre in London at 6% yield
UK REIT Land Securities announced on Monday it has completed the off-market purchase of the O2 Centre in London for £126 mln (EUR 143 mln), reflecting a yield of 6%. The investment volume was 27% higher than the vendor, Matterhorn Palos Partnership, paid when it purchased the retail and leisure ...
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PropertyEU Archive
Baneasa unveils EUR 22m extension plan
Baneasa Developments unveiled a major retail space expansion programme on Monday. The developer of one of the largest shopping areas in the Central and Eastern Europe noted that it is expanding at a time when other developers are scaling back or even stopping investment.
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PropertyEU Archive
Fergo Aisa completes EUR 330m debt refinancing
Fergo Aisa, the Spanish real estate developer formerly known as Astroc, said it has reached an agreement with its banks to refinance around EUR 330 mln of debt. In a statement to the Spanish stock market regulator CNMV, the company said that the restructuring was agreed with a consortium of ...
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PropertyEU Archive
Iberdrola sells Barcelona tower for EUR 60m
Spain's Iberdrola Inmobiliaria has sold the Torre Diagonal Litoral office building in Barcelona for EUR 60 mln. An Iberdrola spokesperson told PropertyEU that the buyer is a family-owned business from Valencia.
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PropertyEU Archive
GOEFs lead race to acquire Realia trophy asset
A number of German open-ended real estate funds, including Deka and Union Investment, are pushing ahead with attempts to buy the Diagonal 640 office building in Barcelona, well-informed market sources told PropertyEU. Madrid-based Realia put the trophy asset on the market in early 2010 through CB Richard Ellis.
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PropertyEU Archive
NPS, Hines in exclusive talks to buy Sony Center
A joint venture of Korean pension fund NPS and US developer Hines is in exclusive talks to buy Morgan Stanley's Sony Center in Berlin for just over EUR 500 mln, well-informed sources have told PropertyEU.
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PropertyEU Archive
European prime yields stabilise: CBRE
Prime rents stabilised across Europe during the first three months of 2010, with the majority of markets showing little or no change in any sector, according to CB Richard Ellis's latest EMEA Rent and Yield Indices.
