All Real Assets articles in Web Issue – Page 53
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PropertyEU Archive
Great Portland adds to Hanover Square estate
British property major Great Portland Estate has carried out two transactions to add to its existing 48,000 m[sup]2[/sup] Hanover Square estate in the West End of London. The first transaction involved a property swap with South Yorkshire Pensions Authority. Great Portland bought 1 Tenterden Street for £14.95 mln (EUR ...
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PropertyEU Archive
Homburg wins Alexis Nihon takeover battle
Halifax-based real estate investment fund Homburg Invest has won the takeover battle for Montreal-based landlord Alexis Nihon, but only after agreeing to sell Alexis Nihon's industrial and office properties to rival bidder Cominar Real Estate Investment Trust.
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PropertyEU Archive
IFIL's buy of C&W gets go-ahead
IFIL, the investment vehicle of Italy's Agnelli family, has received approval from Italy's antitrust agency for the purchase of a 67.5% stake in Cushman & Wakefield, the world' largest privately-held real estate advisor, for EUR 430 mln. The acquisition was announced last December.
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PropertyEU Archive
Legal & General buys Solartron park
Legal & General, an insurance, investment management and financial services group, has acquired the 8,180 m[sup]2[/sup] Solartron retail park in Farnborough, southeast England, from CBRE Investors for EUR 94 mln. The transaction value reflects a net initial yield of 4.38%.
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PropertyEU Archive
Cushman Hotels poaches teams from KPMG and CBRE
Cushman & Wakefield Hotels has announced the appointment of specialist hotel teams lured from KPMG in London and from CB Richard Ellis in Prague. Nick Pattie, head of London-based KPMG hospitality and leisure advisory services, is joining C & W Hotels as managing director. He brings with him Philip Camble ...
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PropertyEU Archive
Corio expands further in Italian retail market
Corio, the Amsterdam and Paris listed retail property company, has reached agreement on the acquisition of a 49% interest in the Citta Fiera shopping centre in the north-eastern Italian city of Udine for approximately EUR 87 mln. The shopping centre is the largest in the region and comprises 70,800 m[sup]2[/sup] ...
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PropertyEU Archive
GMPA's PFI project declared a 'huge success'
The Greater Manchester Police Authority (GMPA) has announced its EUR 116 mln Public Finance Initiative (PFI), completed at the end of 2006, has been a 'huge success'. John Laing, awarded the contract in 2001, has delivered the 17 new police stations across 16 sites on time and on budget.
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PropertyEU Archive
Dutch firm joins Taxand real estate team
Dutch law firm Van Mens & Wisselink has become the latest member of the relatively new global tax alliance, Taxand, which, aside from VMW in the Netherlands, has property lawyers in at least 20 of the 36 countries it is active in. It also has specialists in several other areas ...
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PropertyEU Archive
Warburg-Henderson purchases German office portfolio
Hamburg-based Warburg-Henderson KAG has bought three properties in the German cities of Duesseldorf and Hamburg for a combined value of EUR 52 mln. In Duesseldorf, the company has purchased an office building of 9,670 m[sup]2[/sup] leased to London-based group KPMG.
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PropertyEU Archive
Metrovacesa's split plan unveiled
Metrovacesa's major shareholders Joaquin Rivero, Bautista Soler, and the Sanahuja family have agreed an exchange rate of 1.7 Metrovacesa shares for each share of its French unit Gecina. The deal values Metrovacesa's at EUR 75.67 per share and Gecina's at EUR 129.36, the investors have told the Spanish stock exchange ...
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PropertyEU Archive
Strategic Value Partners acquires Capri portfolio
Fund manager Strategic Value Partners has added the Capri portfolio to its German real estate business. The properties include five mixed-use properties located in Berlin, Hamburg and Essen with a total lettable area of over 134,000 m2; a residential estate in Berlin, Spandau with 1,089 apartments totalling over 75,000 m2; ...
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PropertyEU Archive
Islamic bank acquires French portfolio
Bahrain-based International Investment Bank (IIB) has acquired a 90% stake in a 'high-quality' commercial portfolio comprising five properties in strategic locations in Paris and one in Lyon for $105 mln (EUR 80 mln).
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PropertyEU Archive
Standard Life in first German acquisitions
Standard Life Investments (SLI) has made its first acquisitions in Germany in a bid to strengjthen its EUR 91 mln European Property Growth Funds (EPGF), the UK company said on Wednesday.
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PropertyEU Archive
Affine buys Fideimur
French property company Affine has purchased a 64.22% interest in peer Compagnie Fonciere Fideimur from three shareholders at a price of EUR 19.10 per share. Fideimur has a portfolio that includes seven buildings in the 8th arrondissement of Paris, as well as other real estate assets in the capital ...
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PropertyEU Archive
'TomTom to move to new Amsterdam development'
TomTom, the Dutch producer of navigation systems, is to lease 11,000 m[sup]2[/sup] in the Oosterdokseiland development in Amsterdam, according to sources in the sector. The company's headquarters are currently located on Rembrandtplein in the heart of the Dutch capital, but the company is believed to be planning to move its ...
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PropertyEU Archive
InterContinental to sell its 'trophy assets'
InterContinental Hotels Group (IHG) is considering selling its remaining 25 hotels, valued at £1 bn, among which its top-four 'trophy assets', the London, Paris, New York and Hong Kong hotels. In 2006, the hotels group sold 31 Continental European Hotels, valued at £680 mln, in a steadily continued sell-off pressured ...
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PropertyEU Archive
Bear Stearns buys Crane Capital, goes European
New-York based financial services firm Bear Stearns has acquired London-based Crane Capital Associates, a specialist in raising money for private equity and real estate investment funds. The terms of the deal have not been disclosed.
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PropertyEU Archive
Sonae Sierra begins construction of Colombo Towers
Construction has begun in Lisbon for the Colombo Towers, which will become one of the main office developments in the Portuguese capital. The project is a 50/50 partnership between Sonae Sierra and ING Real Estate, and will involve an investment of about EUR 90 mln, Sonae Sierra said in a ...
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PropertyEU Archive
Prupim buys Dutch warehouse
Prupim has purchased a distribution warehouse in the eastern Dutch city of Enschede from the German open-ended real estate fund manager WestInvest on behalf of the M&G European Property Fund. PRUPIM said it acquired the building off-market for a value of EUR 22 mln. The property provides some 40,000 m[sup]2[/sup] ...
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PropertyEU Archive
Schiphol to host Chinese trade centre
Amsterdam's Schiphol Airport has signed an agreement with Chinamex for the development of a trade and exhibition centre near the airport. The centre will promote 1,000 to 1,500 Chinese firms that plan to trade in the EU.
