All Real Assets articles in Web Issue – Page 537
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PropertyEU Archive
Plaza completes 30th mall in CEE
Plaza Centers, an emerging markets property developer, has completed and opened Suwalki Plaza in Poland - its 30th shopping centre in Central and Eastern Europe and its ninth in Poland. Suwalki Plaza is located in Suwalki’s city centre in the north-east of Poland.
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PropertyEU Archive
Cala takes EUR 35m loss on Brandon shopping centre
The Columbus UK Real Estate Fund, advised by Schroders' Columbus Capital Management, and the Chester Properties Investment Partnership have joined forces to acquire the Brandon shopping centre in Motherwell, UK. Although the price of the acquisition was not disclosed, market sources say that Cala Properties sold the scheme at a ...
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PropertyEU Archive
Immofinanz reaches agreement on EUR 512m debt restructuring
Austria's Immofinanz, the group resulting from the merger of Immofinanz and Immoeast, has reached an agreement with Constantia Packaging on the restructuring of a EUR 512 mln bond. The agreement puts an end to a longstanding dispute on a EUR 520 mln missing payment provided by Immoeast to Immofinanz Beteiligungs ...
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PropertyEU Archive
Andrew Smith succeeds Backlund as Aberdeen's head of property
Aberdeen Asset Management has announced the appointment of Andrew Smith as the group's new head of property. Smith succeeds Richard Backlund who has decided to step down from full-time executive responsibility by his 60th birthday in September.
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PropertyEU Archive
Commerz Real acquires logistics project in Hannover
Commerz Real announced on Thursday that it has signed the deed for the Hermes Hub Nord logistics project development in Hanover. Following its prospective completion in Q4 2010, the property will be transferred to the hausInvest europa open-ended real estate fund. The total investment volume for comes to EUR 24 ...
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PropertyEU Archive
AXA adds Immosolutions to list of frozen GOEFS
AXA Investment Managers Deutschland has added its EUR 400 mln Immosolutions vehicle to the growing list of German open-ended property funds (GOEFS) that are frozen for redemptions. The three-month suspension of equity withdrawals follows outflows in the wake of the German draft discussion document. The ban will remain in place ...
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PropertyEU Archive
European recovery will be 'anaemic', IPD delegates told
Recovery of the European property market will take longer and be paler than most people would have wished, Joe Valente, Head of Investment Strategy at Allianz Real Estate, told delegates on the second day of the annual IPD conference in Amsterdam on Thursday. 'We had a very virulent downturn. The ...
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PropertyEU Archive
Niels Cederholm appointed MD at CBRE Denmark
CB Richard Ellis (CBRE) announced on Wednesday that Niels Cederholm has been appointed managing director of the property advisor's Danish business from I July. Cederholm has been an executive director with CBRE since 2008 following the acquisition of its Danish affiliate, Cederholm.
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PropertyEU Archive
New Italian asset manager launched to fill industry gap
Three former Cordea Savills directors have launched Endeavour Asset Management, Italy's first international real estate asset manager. The founders of the Rome-based company are Dominic White, Emmanuel Bordignon and Andrea Migliore. With over a dozen staff in the Italian capital and a satellite office in London, Endeavour has seen its ...
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PropertyEU Archive
Multi's Espacio Coruña first Spanish mall to get BREEAM cert
Espacio Coruña, developed by Multi Development Spain, has been awarded the definitive BREEAM certificate, with a 'Very Good' ranking. Multi said Espacio Coruña is the first completed shopping centre in Spain to receive this prestigious certification which is also the International Council of Shopping Centers' standard to evaluate the impact ...
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PropertyEU Archive
Warburg-Henderson buys Durham industrial estate for EUR 19m
Warburg-Henderson has acquired the freehold interest in a newly developed distribution warehouse at Drum Industrial Estate, County Durham in the UK. The purchase from Gladman Developments was carried out on behalf of Warburg-Henderson's European Core Property 1 Fund. The investment volume of £16.25 mln (almost EUR 19 mln) ...
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PropertyEU Archive
Real estate sector to miss 2020 sustainability target: RICS
One in five surveyors globally believe that 90% of the commercial real estate stock will still fall short of meeting good sustainable standards by 2020 without a rethink of green incentives, according to the RICS survey of commercial property agents due to be released on Friday.
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PropertyEU Archive
Austrian firm gets green light for EUR 250m Zagreb mall
Austrian real estate developer m[sup]2[/sup] Immobilien has received a building permit for the construction of the Supernova Zagreb shopping centre in Buzin, just outside the Croatian capital.
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PropertyEU Archive
MSREF raises EUR 3.8b for global opportunity fund
Morgan Stanley Real Estate has reportedly raised EUR 4.7 bn (EUR 3.8 bn) from investors for its new opportunity fund MSREF VII Global. The fund will focus on the US, Japan and Western Europe.
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PropertyEU Archive
Amstar, Renaissance celebrate opening of EUR 30m Istanbul mall
US real estate investor Amstar and Turkey's Renaissance Development said that their Kozzy shopping centre has opened its doors in the Kadikoy district of Istanbul. The project, which is owned on a 50/50 basis by Amstar and Renaissance, is the joint venture's first in Turkey and represents an investment of ...
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PropertyEU Archive
LGP acquires Guildford business park for EUR 65m
Legal & General Property has exchanged contracts to purchase Guildford Business Park from the Crown Estate for £55.215 mln (EUR 65 mln). This is the second acquisition for the £1 bn UK Property Income Fund.
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PropertyEU Archive
Norway's Storm RE in capital hike to fund acquisitions
Norwegian investor Storm Real Estate is hoping to raise up to NOK 506 mln (EUR 65 mln) in a capital increase to be launched on Oslo's stock exchange next month. The fund, which is managed by Storm Capital Management, said in a statement that it has applied for the listing ...
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PropertyEU Archive
Germany's Lindner enters Albania with mixed-use project
Germany's Lindner Development is set to enter the Albanian market to take advantage of the forecast increase in international occupiers' demand in view of the country's potential EU accession. The Munich-based developer has hired Colliers International to provide exclusive leasing services and legal counselling on a new EUR 60 mln ...
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PropertyEU Archive
MAB and Neinver get green light for Village des Alpes
Netherlands-based MAB Development has announced that its joint venture with Spanish outlet developer Neinver has been granted the retail permit for the Village des Alpes outlet project in France.
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PropertyEU Archive
RBS shifts Amsterdam HQ to new office
Royal Bank of Scotland (RBS) is to move its Amsterdam headquarters to a new location in the city's Zuidas business district, the banking group said on Friday.
