All Real Assets articles in Web Issue – Page 534
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PropertyEU Archive
MIPIM 2011 launches Gateway Netherlands
The fair organisers of MIPIM have announced that the 2011 event will put the Dutch real estate sector in the spotlight with the introduction of Gateway Netherlands, a content, conference and networking exhibition zone dedicated to promoting the country’s property industry to the 18,000 MIPIM delegates expected in Cannes.
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PropertyEU Archive
RICS slashes chief exec’s salary by almost 40%
RICS' chief executive in-waiting Sean Tompkins will be paid £255,000 a year, almost 40% less than former chief executive Louis Armstrong’s £406,000 a year, against a backdrop of salaries being frozen or slashed elsewhere.
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PropertyEU Archive
Christie + Co to help market 5-star Hilton Hotel Valencia
Christie + Co, the specialist property agent and adviser, has been appointed to participate in the marketing of the freehold of the 5-star, 304-bedroom Hilton Hotel Valencia in Spain's third largest city. The hotel was built in 2007 for a reported cost of EUR 110 mln, is the tallest building ...
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PropertyEU Archive
London & Stamford completes Radial acquisition
AIM-listed London & Stamford Property announced on Tuesday that it has completed the acquisition of Radial Distribution for £208.5 mln (EUR 242 mln) exclusing costs from Warner Estate Joint Ventures and Uberior Ventures. The deal was first announced last week.
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PropertyEU Archive
British Land plans new investment on back of profit recovery
British Land indicated on Tuesday that it intends to become more active in the investment market after posting robust preliminary earning figures for the year to end-March. The UK REIT posted a pre-tax profit of £1.13 bn (EUR 1.3 bn) for the year, up from a £3.9 bn loss in ...
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PropertyEU Archive
C&W signals growing caution in UK secondary market
Prime yields in the UK fell 8 basis points in April to an average of 5.79%, according to the latest capital markets business briefing on the UK from Cushman & Wakefield. This is the lowest level since May 2008, the adviser said, adding that yields are now reportedly stable in ...
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PropertyEU Archive
Transaction volume set to reach EUR 50b in H1
The three largest global property advisers are forecasting a total European real estate transaction volume of between EUR 40-50 bn for the first half of the year, according to a survey conducted by PropertyEU. Cushman & Wakefield's forecast is at the top of the range at EUR 50 bn after ...
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PropertyEU Archive
ING REIM favours retail and logistics for 2010-11
European retail and logistics property sectors look more appealing than most office markets over the 2010-2011 timeframe due to their proven defensive qualities -- notably the high and stable income component in investment returns -- during the economic crisis. That is one of the key conclusions of ING Real Estate ...
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PropertyEU Archive
Mirland sells Techagrocom-2 project in Moscow
Mirland Development Corporation has entered into an agreement for the sale of Techagrocom-2 business park development in Moscow. The London-listed developer of residential and commercial property in Russia holds a 50% interest in the project located on a 22-hectare site located near Mamyri Village in the Leninsky District of Moscow.
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PropertyEU Archive
Premier Inn acquires hotel near London Olympic stadium
Premier Inn has announced the acquisition of a new 267-bedroom budget hotel at Stratford, located adjacent to the Olympic Stadium in London, for £25 mln (EUR 29 mln). The hotel will also be the closest hotel to the new Stratford International station which opened in December 2009.
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PropertyEU Archive
AXA Real Estate in running for Italian bank deal
French insurer AXA Real Estate is taking part in a consortium that is bidding for EUR 1.8 bn worth of property from Siena-based bank Banca Monte dei Paschi di Siena (MPS). Under the sale-and-leaseback plan, the Italian bank would retain a 30% stake in the portfolio with the rest split ...
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PropertyEU Archive
Klepierre boosts equity base
French property company Klepierre has boosted its shareholders' equity by nearly EUR 190 mln with the issuance of 7.6 million new shares at a price of EUR 24.69 each. The new issue represents 4.2% of its total share capital.
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PropertyEU Archive
Bouygues opens green retail park in Orange
Bouygues Immobilier has opened its Orange les Vignes retail park in the town of Orange, around 30 km north of Avignon, in the south of France. The complex has a total surface of 32,000 m2, and features the largest photovoltaic facility in Europe, developed by Aerowatt.
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PropertyEU Archive
Global office market showing improvement: CBRE
Increased demand, together with more relocation activity, is slowing rental declines in the majority of global office markets, with growth beginning to accelerate in three major markets, according to the latest Global Office Rental Cycle report from CB Richard Ellis Group. Overall, a tentative recovery of property markets is emerging, ...
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PropertyEU Archive
Karstadt sale looks set to be derailed
German-Swedish financial investor Triton will pull out of its conditional bid for insolvent German retailer Karstadt unless Germany’s largest union Verdi agrees to make some changes to the insolvency agreement, Triton spokesman Max Hohenberg told PropertyEU.
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PropertyEU Archive
Mike McCarrick joins Resolute
Resolute Asset Management, the specialist advisory and asset management firm, has announced the appointment of Mike McCarrick as vice president Real Estate Asset Management. McCarrick will be responsible for providing technical support in the review, analysis and management of the real estate assets managed by Resolute, combined with direct responsibility ...
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PropertyEU Archive
KGAL buys Munich office building for EUR 33m
German fund manager KGAL said on Thursday that it has acquired the Eisbach Offices complex in Munich-Schwabing from NB Project Development for around EUR 33 mln. The building is earmarked for KGAL's new closed-end real estate fund, Property Class Germany 12, which will be marketed to investors in the third ...
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PropertyEU Archive
UBS Sima completes EUR 374m capital hike
Swiss property fund manager UBS said it has raised CHF 530 mln (EUR 374 mln) for its flagship Sima real estate fund to finance the acquisition of new development projects. 'This constitutes a record sum raised for any existing Swiss listed real estate fund thus far,' the company said ...
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PropertyEU Archive
JP Morgan buys EUR 375m Metrovacesa loan at 40% discount
JP Morgan has acquired a EUR 375 mln tranche of a credit facility granted to Metrovacesa by German lender Deutsche Pfandbriefbank, well-informed market sources have told PropertyEU. The loan was reportedly divested at a discount of 40-50%.
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PropertyEU Archive
AXA RE selects C&W for Spanish logistics mandate
French investment manager AXA Real Estate has mandated Cushman & Wakefield (C&W) to market a portfolio of logistics properties on behalf of its clients. The portfolio provides 60,000 m[sup]2[/sup] of space over two facilities in Constantí (43,000 m2) and Mas Blau, near Barcelona (17,000 m2).
