All Real Assets articles in Web Issue – Page 532
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PropertyEU Archive
Corio sees portfolio increase in value in Q1
Listed retail specialist Corio booked a direct result of EUR 56 mln in the first quarter of this year, an increase of 12.7% compared to the same year-earlier period. The indirect result came to - EUR 12.8 mln compared to -EUR 154.8 mln in Q1 2009. The portfolio rose EUR ...
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PropertyEU Archive
Aberdeen fund acquires shopping centre in the Netherlands
Aberdeen European Balanced Property Fund has acquired the Arena shopping centre and adjacent Stoa shopping gallery in the centre of the Dutch city of Den Bosch.
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PropertyEU Archive
Capital & Regional sells Manchester concert arena
Capital & Regional, the co-investing property asset manager, confirmed that it has, together with its joint venture partner, acquired the companies that own the Manchester Evening News Arena (M.E.N. Arena). The group holds a 30% interest in the property.
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PropertyEU Archive
Greece weighs sale of state-owned assets
The Greek government has appointed investment bank Lazard to advise on its public finances including the sale of a number of state-owned assets. The state is also weighing the launch of a real estate investment trust to which it would transfer a large part of its real estate portfolio.
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PropertyEU Archive
IVG swings back into the black
German property giant IVG Immobilien swung back into the black in in the first quarter of 2010 for the first time since Q2 2008 with a net profit of EUR 10.2 mln. This compares to a net loss of EUR 44.8 mln in the year-earlier period. The profit reflected a ...
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PropertyEU Archive
Pan-European IPD Index shows modest capital depreciation,
European commercial property delivered a much improved euro-denominated total return of 3.7% last year, according to the IPD Pan-European Annual Property Index compared to -11.4% in 2008. Stripping out the modest currency adjustments of the year left the 2009 return still just in positive territory, at 1.4% (-4.4% in 2008).
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PropertyEU Archive
Kallevig to head property drive for Norwegian pension fund
Norway's massive state pension fund has appointed Karsten Kallevig to lead its multi-billion investment drive in the real estate sector. Kallevig will take up his position as head of the real estate team on 1 September.
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PropertyEU Archive
Bouwfonds buys Dutch carpark for EUR 12m
Bouwfonds REIM's European Real Estate Parking Fund has acquired its second car park in the Netherlands from Cocon Vastgoed. The investment volume was not explicitly stated but Bouwfonds said the deal increased the value of the fund to EUR 242 mln from the previously disclosed figure of EUR 230 mln.
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PropertyEU Archive
Barclays puts 34 Spanish bank branches on the market
London-based financial institution Barclays has put a portfolio of 34 bank branches in Spain up for sale. The lender, which is looking to sell through a sale-and-leaseback structure, has hired Jones Lang LaSalle to market the properties, which are worth EUR 25 - 35 mln.
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PropertyEU Archive
German developer buys complex in central Amsterdam
A German-based project developer has reportedly acquired the landmark Heredium complex in the centre of Amsterdam for about EUR 30 mln. Newspaper Het Parool said that the buyer is Stolp Holding which is based in Kassel, Germany, though the director lives in the Netherlands. The vendor is Heredium, a Dutch-registered ...
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PropertyEU Archive
CBRE to market Halifax bank branches in Ireland
CB Richard Ellis has been contracted to dispose of 44 branch locations on behalf of Bank of Scotland Ireland. The bank announced the closure in February this year of its Halifax branch network in the Republic of Ireland.
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PropertyEU Archive
ING REIM eyes Poland and Czech Republic
ING Real Estate Investment Management plans to invest again in Poland and the Czech Republic, the company said in a press release. 'The real estate markets in the two countries have recovered better from the crisis than other markets in the region. There is now a growing interest in investment ...
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PropertyEU Archive
Panattoni to develop logistics park in Poland
US logistics developer Panattoni Europe has bought 60,000 m[sup]2[/sup] of land in Grebocin near Torun, Northern Poland for the development of a new logistics facility, Panattoni Park Torun. According to a Panattoni spokesperson, the new built-to-suit complex is being developed for Cereal Partners Poland Torun-Pacific (CPP), a manufacturer and distributor ...
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PropertyEU Archive
Former Savills director launches nursing home venture
Savills' former managing director Felix von Braun has launched Deutsche Pflegeheim Fonds (DPF), a Berlin-based investment management company focusing on nursing homes. The company, which invests in existing properties and development projects for senior citizens as well as non performing loans, is seeking to invest EUR 200 mln in the ...
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PropertyEU Archive
Expo Italia eyes Mediterranean markets
Expo Italia (EIRE) is emphasising real estate opportunities in the Mediterranean region for its 2010 edition. EIRE's director Antonio Intiglietta told PropertyEU that the fair has gained a large following among Italy's major players, and is seeking to widen its focus to the leading institutions and private investors of the ...
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PropertyEU Archive
Kroon spins off German subsidiary
Dutch property group Kroon Real Estate has transferred its 50% stake in Kroon Group Germany in Frankfurt to co-shareholder Brigitte van der Jagt-Buitink, the current manager of the German unit.
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PropertyEU Archive
Helios Europe in EUR1bn European logistics development drive
Helios Europe, the European logistics developer headed by Mike Hughes, has entered into a joint venture with specialist fund manager Mansford Real Estate to develop a EUR 1 bn pipeline of future projects across Europe. The new partnership has received 'substantial financial backing' from two of the UK's largest pension ...
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PropertyEU Archive
Carphathian agrees refinancing of EUR 109m Riga mall
AIM-listed CEE commercial property investor Carpathian has been granted refinancing to complete construction of its landmark retail development project in the Latvian capital of Riga. 'Following extensive negotiations, a revised agreement has been finalised with the co-owner and development partner, Titan Invest and the senior lender, Nordea,' the company said ...
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PropertyEU Archive
German funds back 12-month holding period for new investors
Managers of German open-ended real estate funds (GOEFS) are in favour of a 12-month holding period for new investors to help tackle the liquidity crisis that has plagued the industry in recent years.
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PropertyEU Archive
ING RE books EUR 151m impairment on development pipeline
ING Real Estate booked EUR 151 mln in impairments in the first quarter of 2010, largely on its development pipeline. As a result, ING Bank saw its operational costs increase by ING Bank. In the year-earlier period, the figure came to EUR 22 mln.
