All Real Assets articles in Web Issue – Page 531
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PropertyEU Archive
Qatar Holding acquires Harrods for EUR 1.7b
Qatar Holding, the investment arm of Qatar's sovereign wealth fund, has acquired Harrods, the iconic department store in London from Egyptian businessman Mohamed al-Fayed for £1.5 bn (EUR 1.7 bn). The acquisition was the largest single investment transaction in the UK retail sector since 2007.
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PropertyEU Archive
Ærium secures EUR 186m refinancing for Turkish retail portfolio
Ærium, a European real estate fund manager, has announced the refinancing of its Turkish retail portfolio, Bainbridge Capital Retail Properties through a $240 mln (EUR 186 mln) debt facility with Akbank. Describing the transaction as the first sizeable refinancing in Turkey since the onslaught of the global economic crisis, Ærium ...
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PropertyEU Archive
London & Stamford buys UK distribution portfolio for EUR 242m
AIM-listed real estate investor London & Stamford Property has acquired the Radial portfolio of prime distribution warehouses across the UK for £208.5 mln (EUR 242 mln), exluding costs. The vendor is Warner Estate Joint Ventures Limited and Uberior Ventures Limited.
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PropertyEU Archive
Bank of Italy to offload EUR 330m worth of assets
The Bank of Italy is holding a tender process to appoint the adviser to manage the sale of of its real estate portfolio. The mandate would be for three years, the bank said, with an option for a two-year renewal. The bank owns properties valued at around EUR 330 mln ...
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PropertyEU Archive
Union Investment buys Hofgarten Palais for EUR 60m
Union Investment Real Estate has signed an agreement to acquire Hofgarten Palais in Düsseldorf from Europa Capital for about EUR 60 mln. The 14,000 m[sup]2[/sup] office development was carried out by Luxembourg-based subsidiaries of Europa Fund II and was purchased by Union Investment for its open-ended property UniImmo: Europa.
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PropertyEU Archive
Degi Europa in EUR 77m London sale to generate liquidity
German-based Aberdeen Immobilien KAG (formerly Degi) has sold its King William Street office complex in London to the Scottish Widows SWIP Property Trust for EUR 77 mln. This is the second sale in recent weeks which Aberdeen Immobilien has carried out to help raise the liquidity ratio for the frozen ...
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PropertyEU Archive
DTZ appoints Menno Maas as head of CEMEA
Global real estate adviser DTZ has announced the appointment of Menno Maas to the role of CEO for Continental Europe, Middle East and Africa (CEMEA). Maas, formerly boss of ING Real Estate Development, will be responsible for DTZ's operations across 24 CEMEA markets.
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PropertyEU Archive
Helical Bar buys UK portfolio from ING REIM
Helical Bar has acquired a portfolio of nine assets comprising 129 industrial and offices units for approximately £50 mln (EUR 58.14 mln) from ING Real Estate Investment Management.
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PropertyEU Archive
Hines sells landmark office building in Barcelona
US privately held developer and investor Hines has sold a landmark office building at Barcelona's central Avenida Diagonal for an undisclosed amount to BFO, the investment holding of the Bernat family.
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PropertyEU Archive
HSBC REIM seeks new investors for Elysées Pierre
HSBC Real Estate Investment Management is offering investors 100,000 new units in its Elysées Pierre SCPI investment vehicle at a price of EUR 550 each. The company is hoping to raise up to EUR 55 mln of new capital through the offering, increasing the market capitalisation of Elysées Pierre to ...
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PropertyEU Archive
Shell selects JLL for EMEA mandate
Multinational petroleum firm Shell has appointed Jones Lang LaSalle's EMEA Corporate Solutions team as its primary provider of real estate support services across the EMEA region.
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PropertyEU Archive
Morgan Stanley extends freeze at P2 Value fund
Morgan Stanley has extended the freeze on redemptions from its EUR 2 bn P2 Value German open-ended real estate fund, warning of possible further writedowns amid ongoing market uncertainty.
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PropertyEU Archive
Italy's Aedes sells in London for EUR 20m
Italian property developer Aedes Immobiliare said that it has sold the Wilton 18 company, the owner of an office building located at 18 Wilton Crescent in London, to Grosvenor Street Trust Company. The transaction price amounted to £17.3 mln (EUR 20 mln) and is in line with the property's market ...
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PropertyEU Archive
AEW fund sells retail building in Cologne for EUR 25m
An AEW Europe fund has sold a retail property in the German city of Cologne for EUR 25 mln, representing a 4.7% yield. EPI Walkabout Köln, an entity of the EPI fund co-advised by AEW Europe and Tristan Capital Partners, sold the redeveloped high street retail property in Cologne to ...
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PropertyEU Archive
Orco Germany sells EUR 40m healthcare portfolio
Frankfurt-listed Orco Germany has announced the sale of a healthcare portfolio consisting of four properties in Germany for a total of EUR 40 mln.
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PropertyEU Archive
Genesta acquires two assets from API in Central Olso for EUR 67m
Nordic real estate investor Genesta has acquired two properties in central Oslo for a total of EUR 67 mln. The vendor is Aberdeen Property Investors’ fund Sameiet Aberdeen Eiendomsfond Norge I (Norge I). The assets are Karl Johans gate 14 and Kirkegata 23-25.
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PropertyEU Archive
Park Plaza buys Holiday Inn in Amsterdam
Park Plaza has acquired the 342-room Holiday Inn at Amsterdam's Schiphol Airport for over EUR 30 mln, according to a report in local paper Het Parool. The hotel was declared bankrupt last year and has since been operated by the hotel's main lender Germany's Areaal Bank. Areaal is also financing ...
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PropertyEU Archive
AXA REIM hires Realty Lab to sell Milan complex
Realty Lab, the new real estate brokerage firm founded by Pirelli RE's former director Roberto Nicosia and GE RE Italy's former CEO Alessandro Manetti, has been mandated by AXA REIM's European Office Income Venture (EOIV) to sell a 30,000 m[sup]2[/sup] office complex in Milan.
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PropertyEU Archive
Redevco jv brings first BREEAM project in China
Netherlands-based Redevco and Shui On Land, are the first to register a development in China for assessment under BREEAM, a leading rating tool for sustainable buildings. The partnership began working with BRE Global towards the end of 2009 and is nearing the final stages of development of suitable criteria for ...
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PropertyEU Archive
FdM, Fonciere Massena buy and sell in France
Foncière des Murs, the hospitality unit of Foncière des Régions, has sold four budget hotel properties in the French cities of Montpellier, Lille, Courbevoie and Nantes to different private investors for a total of EUR 24 mln. The disposal prices are in line with appraisal values, the company said.
