All Real Assets articles in Web Issue – Page 526
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PropertyEU Archive
Austria's VBAG eyes sale of CEE arm Europolis
Austria's troubled Österreichische Volksbanken AG (VBAG) has mandated investment bank Lazard to evaluate the sale of its Central and Eastern European real estate investment unit Europolis, in efforts to reposition its loss-making business. Alexander Bosak, spokesperson for Europolis, confirmed to PropertyEU that the banking group has started 'a formal process ...
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PropertyEU Archive
WP Carey to sell French distribution centre portfolio
US real estate investor WP Carey has mandated CB Richard Ellis and BNP Paribas to sell a portfolio of distribution centres across France, according to well-informed market sources. The portfolio, worth some EUR 130 mln, offers 360,000 m[sup]2[/sup] of logistics space mostly let to French hypermarket Carrefour. The properties are ...
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PropertyEU Archive
Volcano fails to stop ICSC European Conference
The International Council of Shopping Centers (ICSC) has confirmed that its European Conference is going ahead in Prague on 28 & 29 April. Many industry events across Europe - including the annual conference of the European association of non-listed real estate fund's annual conference - were cancelled last week ...
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PropertyEU Archive
Investors take on more risk as French prime dries up
Institutional investors in France are turning to riskier asset profiles due to the scarcity of prime product on the market, according to Nicolas Verdillon, head of CBRE's Capital Markets in France.
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PropertyEU Archive
Prime European office rents continue to stabilise in Q1: JLL
Prime office rents and incentives continued to stabilise in the majority of European markets in Q1 2010, with the European Prime Office Rental index increasing 1.2% quarter-on-quarter. This marks the first rise since Q2 2008, according to Jones Lang LaSalle's Q1 2010 European Office Clock released on Monday. The index ...
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PropertyEU Archive
GE Capital RE sells EUR 75m Austerlitz 2000
GE Capital Real Estate has sold the Austerlitz 2000 office building in the 13th arrondissement of Paris to the US opportunistic real estate group CarVal Investors. Although the financial details were not disclosed, market experts say that the transaction price amounted to around EUR 75 mln.
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PropertyEU Archive
Klepierre sells Paris building for EUR 36m
French retail specialist Klepierre has sold an office building located at Place du Général Leclerc in Levallois-Perret, west of Paris. The transaction price amounts to a total of EUR 36 mln, including taxes.
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PropertyEU Archive
Stenham buys City asset from Aviva for EUR 36m
UK investor Stenham Property has completed the purchase of 24 Chiswell Street, a 76,393 sq ft (7,000 m2) virtual freehold property in the City of London. A spokesperson for Stenham said that the seller of the property is Aviva. The £31 mln (EUR 36 mln) purchase price reflects a net ...
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PropertyEU Archive
Meyer Bergman buys The Exchange Mall for £71m
Meyer Bergman, the European real estate fund manager, has signed a preliminary agreement to acquire the Exchange Mall in Ilford, UK from the Mall Fund, which is managed by Aviva Investors, well-informed market sources close to the process told PropertyEU. The acquisition price comes to £70.6 mln (EUR 82 mln), ...
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PropertyEU Archive
Prologis targets Europe for new development activities
Prologis, a leading developer, owner and manager of distribution facilities, plans to develop its way through its significant European land bank, provided market conditions are favourable, according to its European president and CEO Philip Dunne.
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PropertyEU Archive
Core funds perform better than value added: Inrev
Core funds performed better than added value funds in 2009, according to Inrev, the European sector organisation for the non-listed fund sector. Core funds returned -5.9% over the year while value added funds returned -14.3%. In local currencies, the Inrev Index returned -7.8% in 2009 compared to -19.8% in 2008.
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PropertyEU Archive
CBRE advises IVG on sale of Horizon Plaza
CB Richard Ellis has advised IVG on the sale of Horizon Plaza Office Complex in Warsaw, Poland, for around EUR 102 mln to German open-ended fund Union Investment. In a press release, the adviser said the deal was the largest commercial real estate transaction this year in Poland and as ...
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PropertyEU Archive
Henderson fund reopens for investment
Henderson Global Investors' Indirect Property Fund Europe (HIP) has reopened for investment by institutional investors after closing in early 2009 and now has over EUR 50 mln to invest in new opportunities. The fund of funds has benefitted from the revocation of over 70% of the redemption requests on the ...
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PropertyEU Archive
All property returns in UK increase in Q1
All-property total returns in the UK increased to 6.2% in Q1, according to the latest Jones Lang LaSalle UK Quarterly Property Index, Returns were boosted by the 4.5% increase in capital values, which was driven completely by falling yields across all three major sectors.
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PropertyEU Archive
NSI closes EUR 250m refinancing with ING Real Estate Finance
Amsterdam-listed Nieuwe Steen Investments (NSI) has reached agreement with ING Real Estate Finance on refinancing its current short-term credit lines with a new longer EUR 250 mln facility. The loan has a term of two to four years split over a revolving and fixed loan facility.
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PropertyEU Archive
Westimmo turns to Soffin for state aid
German real estate lender Westimmo has applied for billions of euros in German state aid as a way of sweetening the auction process for the unit, according to media reports. The aid request in the form of bridge financing guarantees aims to help prevent potential buyers from suffering a ratings ...
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PropertyEU Archive
Italy's MPS and Baglioni portfolios set to hit the market
Italian bank Monte dei Paschi di Siena (MPS) and luxury hotel group Baglioni both have plans to sell off properties in their home market to fund their future expansion. MPS is planning to sell around EUR 500 mln worth of non-strategic properties, Antonio Vigni, Chief Executive Officer of the financial ...
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PropertyEU Archive
Spain's Ballester to sell central Madrid office building
Valencia-based real estate developer Ballester has hired Savills and Catella to sell its landmark Paseo de Recoletos office building in Madrid. The property is currently 50% vacant, with the rest leased to Spanish construction materials producer Uralita.
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PropertyEU Archive
Deutsche Bank mandated to sell Catella Group
Catella's shareholders, the Catella Foundation and InterIkea, have mandated Deutsche Bank to divest the entire Catella Group, which is headquartered in Stockholm and employs a staff of 475 across Europe, with activities ranging from financial services, real estate advisory and asset management. The Catella Foundation holds a 91% stake in ...
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PropertyEU Archive
CBRE Investors buys B&Q store in Bristol
CB Richard Ellis Investors, the global real estate investment management firm, has announced the purchase of a B&Q Retail Warehouse on Muller Road, Bristol for £8.2 mln (EUR 9.4 mln).
