All Real Assets articles in Web Issue – Page 536
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PropertyEU Archive
DTZ IM buys Cobalt portfolio for EUR 109m
DTZ Investment Management (DTZ IM) has purchased a £93.5 mln (EUR 109 mln) portfolio from Wellcome Trust, comprising nine prime retail, industrial and office properties for a net yield of 6.1%.
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PropertyEU Archive
OFI REIM and F&C REIT launch 2nd French fund
OFI REIM and F&C REIT have announced an initial closing of almost EUR 100 mln of FOSCA II, their second closed-ended investment vehicle focused on the French commercial property sector. The fund is the successor of FOSCA which raised in excess of EUR 200 mln in 2005-2006.
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PropertyEU Archive
Koreans acquire Sony Center in Berlin
The South Korean national pension service (NPS) has carried out its first acquisition on Continental Europe with the purchase of the Sony Center complex located at Potsdamer Platz in Berlin.
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PropertyEU Archive
SEB AM slams proposed GOEF changes
Frankfurt-based SEB Asset Management has strongly criticised proposed amendments to the open-ended real estate fund system put forward by the German Ministry of Finance.
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PropertyEU Archive
Vietnamese hotel investor buys in Frankfurt
A Vietnamese hotel investor has acquired a vacant building located at Schumannstrasse 2 in Frankfurt am Main with a total area of 1,400 m[sup]2[/sup] for his first European project. The development is close to the Frankfurt exhibition centre and will be developed by Franken Architekten. NAI apollo acted as consultant.
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PropertyEU Archive
Invesco sells two UK properties for BVK
Invesco Real Estate, the global cross-border property investment manager, has sold two office properties in the UK totalling about £48 mln (EUR 56 mln) on behalf of its client, the iii-BVK Europa-Immobilien-Spezialfonds, to Aviva Investors and Orchard Street Investment Management.
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PropertyEU Archive
Matthias Thomas named new CEO at INREV
Matthias Thomas has been appointed as the new CEO of INREV, the European association for investors in non-listed real estate funds. He will take up the position in August 2010.
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PropertyEU Archive
ING REIM launches new core open-ended strategy
ING Real Estate Investment Management Europe (ING REIM Europe) has announced the introduction of the ING REIM European Property Strategy, an open-ended core strategy investing in ING REIM Europe’s non-listed fund range.
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PropertyEU Archive
Hammerson delists from Euronext Paris
Hammerson is dropping the listing of its shares from NYSE Euronext Paris. The application by the UK real estate investment trust (REIT) to delist has been approved by the board of Euronext Paris.
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PropertyEU Archive
ULI Masterclass explores Olympic legacy
The annual Urban Land Institute/PropertyEU Masterclass at the Provada property fair in Amsterdam next month will explore the role of hosting major international events like the Olympic Games in attracting public and private investment for urban development after the crisis.
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PropertyEU Archive
DTZ advises on EUR 29m deal in Gothenburg
Global property broker DTZ has advised on a EUR 29 mln property transaction in central Gothenburg where Wallenstam sold a residential property to a condominium association. The property comprises approximately 12,350 m[sup]2[/sup] and is located at Föreningsgatan 16 and Victoriagatan 19-23.
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PropertyEU Archive
Accor to sell 450 hotels in move towards franchise model
Accor plans to sell 450 hotels as part of the French group's strategy to remake itself as a major franchiser and operator of hotels, rather than a hotel owner, CEO Gilles Pélisson announced, The hotel sales will take place over the next four years.
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PropertyEU Archive
Deka buys office complex in The Hague for EUR 49m
Deka Immobilien has acquired the NWO office complex in the centre of The Hague for about EUR 49 mln for its open-ended property fund, WestInvest InterSelect. The property comprises two buildings with a total lettable space of around 18,700 m[sup]2[/sup] and 233 parking spaces. The seller is ASR Property Fund, ...
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PropertyEU Archive
VTB Capital acquires Capital Plaza centre in Moscow
VTB Capital's private equity and special situations team has acquired the Capital Plaza business centre in Moscow. The 14-floor building has a total floor space of approximately 50,000 m[sup]2[/sup].
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PropertyEU Archive
Scribona acquires Catella group
Scribona, listed on the Nordic exchange First North, is acquiring Catella AB, the European finance group that specialises in financial advisory services and asset management. The total cash amount, including redemption of Catella's debts, amounts to SEK 417 mln (EUR 43 mln). Goodwill from the acquisition amounts to approximately SEK ...
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PropertyEU Archive
Skandia property fund buys properties in UK
The Skandia Property Fund has said it is continuing to take advantage of the current value in the commercial property sector with the purchase of two properties for a total of £43 mln (EUR 50.8 mln).
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PropertyEU Archive
L&G and Mitsubishi launch Piano's first UK scheme
Legal & General Property and Mitsubishi Estate Company have launched Central Saint Giles, the first completed development in the UK by internationally-acclaimed architect Renzo Piano. The landmark mixed-use sustainable development consists of 37,000 m[sup]2[/sup] of office space, 56 private apartments, 53 affordable homes and nine new restaurants and café bars ...
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PropertyEU Archive
Timothy Horrocks named head of Germany for HGI
Henderson Global Investors has appointed Timothy Horrocks as head of its property business in Germany with immediate effect. He is responsible for the distribution of Henderson's property funds and its investment activities in Germany, Austria, Benelux and Scandinavia.
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PropertyEU Archive
Global markets at recovery inflection point: ING REIM
The recovery in global real estate markets is playing out rapidly in 2010, faster than forecast at the end of last year, and has now reached a crucial inflection point in terms of sustaining momentum, ING Real Estate Investment Management (ING REIM) has said in its latest Global Vision Update ...
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PropertyEU Archive
Skanska to launch green office project in Prague
Skanska Property Czech Republic is undertaking a new green office project in Prague to be named City Green Court. The seven-storey, 15,000-m[sup]2[/sup] office will be located in the Pankrac business district in Prague 4, which is accessible by car as well as a range of public transport. Project commencement is ...
