All Real Assets articles in Web Issue – Page 539
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PropertyEU Archive
Unsettled skies for global real estate markets: JLL
'Unsettled skies' loom over global real estate markets, according to Jones Lang LaSalle's latest Global Market Perspective. In January, the adviser forecast a 'cool recovery' ahead.
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PropertyEU Archive
Metrovacesa sells EUR 122m worth of property
Spanish property company Metrovacesa has sold a portfolio of Madrid assets worth some EUR 122 mln to French group Continental Property Investments.
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PropertyEU Archive
Aberdeen acquires office asset in Helsinki for EUR 22m
Aberdeen Property Fund I Sicav-Fis has acquired the fourth and final phase of Falcon Business Park outside Helsinki from NCC Property Development. The investment volume for the Falcon Gentti property comes to SEK 213 mln (EUR 22 mln).
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PropertyEU Archive
Altarea, ABP and Predica create SPV for Cap 3000
French retail specialist Altarea, pension fund giant ABP and life insurer Predica have created a new vehicle, Altablue, through which to conduct their purchase of the Cap 3000 shopping centre in Nice. The three partners bought the mall from Galeries Lafayette in early May for EUR 450 mln. The deal ...
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PropertyEU Archive
Montea purchases logistics platform for EUR 35m
Euronext-listed Montea said it has acquired a class-A logistics platform in Saint-Cyr-en-Val, south of the French city of Orléans for over EUR 35 mln, reflecting a gross yield of 8.5%. The investment will be entirely funded with bank loans and/or a capital increase, the Belgian logistics group said.
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PropertyEU Archive
Citycon signs new EUR 50m loan
Helsinki-listed shopping centre developer-owner Citycon has signed a EUR 50 mln unsecured floating rate term loan facility with Pohjola Bank. The loan will mature in five years.
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PropertyEU Archive
Pradera to launch EUR 600m European retail fund
Retail specialist Pradera Europe plans to launch its third European retail fund in the second half of the year, chairman Colin Campbell told PropertyEU in an exclusive interview. The vehicle - Pradera European Retail Fund III - is targeting EUR 300 mln of fresh equity from European institutional investors. With ...
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PropertyEU Archive
Viveris REIM buys EUR 65m office building from Gecina
French investment manager Viveris REIM said that it has acquired a new office building in the Montrouge area of Paris from Gecina for EUR 65 mln. The 10,500-m[sup]2[/sup] scheme was purchased on behalf of Viveris Reim's SPPICAV Delta Immo vehicle.
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PropertyEU Archive
Hotel chain Abba in sale-and-leaseback in Madrid
Hotel chain Abba has sold the Abba Castilla Plaza de Madrid in a EUR 33 mln sale-and-leaseback transaction. The deal reflects a yield of over 7%. The buyers are a consortium of private investors led by Grupo Milenium.
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PropertyEU Archive
Corestate acquires 'ailing' residential portfolio
Swiss real estate investor Corestate Capital has announced the acquisition of an 'ailing' portfolio of 2,300 apartments in Germany for EUR 77 mln. The portfolio comprises 137 properties located mainly in North Rhine-Westphalia. The vendors were unnamed foreign investors who acquired the assets during the peak of the German real ...
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PropertyEU Archive
XXI Century in talks with potential partners
XXI Century Investments has confirmed that it is in talks with a number of potential strategic partners in a bid to address its perilous financial condition. The AIM-listed firm cautioned that the talks are at a preliminary stage. 'There is no certainty that such negotiations will result in a successful ...
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PropertyEU Archive
German optimism losing momentum: King Sturge
The sobering macro-economic sentiment has spilled over into the real estate industry in Germany dashing hopes for a strong recovery in 2010. The poll-based Real Estate Climate, mirroring the industry sentiment, clearly suffered in the May survey of the monthly King Sturge Real Estate Economy Index.
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PropertyEU Archive
SLI's Long Lease carries out EUR 185m worth of deals
European property fund manager Standard Life Investments (SLI) has completed a series of acquisitions totalling £155 mln (EUR 185 mln) in the UK on behalf of its Long Lease property fund.
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PropertyEU Archive
Tamar fund sells two Finnish assets for EUR 21m
Tamar European Industrial Fund, formerly known as Kenmore European Industrial Fund, has exchanged contracts to sell two warehouse and light industrial assets in Finland. The investment volume of EUR 20.7 mln reflects a net initial yield of 7.5% and is about 8% above the March 2010 valuation.
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PropertyEU Archive
Skanska embarks on EUR 31m green project in Uppsala
Skanska has started onsite construction of a 12,500-m[sup]2[/sup] office and retail project in the Swedish city of Uppsala. The Uppsala Entré project is being developed and constructed by Skanska Sweden for an estimated investment of SEK 300 mln (EUR 31 mln).
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PropertyEU Archive
Invesco concludes acquition of three hotels for EUR 90m
Invesco Real Estate (IRE), the global cross-border property investment manager, announced that it has concluded the acquisition of three hotels in Paris and Rome, for an investment of EUR 90 mln. This brings to 13 the number of hotels owned by the firm's dedicated pan-European hotel fund and represents ...
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PropertyEU Archive
C&W advises Sonae on Portuguese sale-and-leaseback
Cushman & Wakefield has announced that it advised Sonae Retail Properties on the sale-and-leaseback transaction of a logistics platform in Portugal. UK fund manager Aprirose Real Estate Investment acquired the 50,000-m[sup]2[/sup] of logistics space for an undisclosed price.
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PropertyEU Archive
German fund inflows fall in April: BVI
Germany's open-ended property investment funds raised a total of EUR 100 mln in new equity in April, down from the EUR 500 mln inflows seen in March and the EUR 1 bn booked in February, according to the latest figures from fund industry body BVI.
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PropertyEU Archive
Multi splits Turkish arm as group refocuses on development
Multi Corporation, the largest independent developer in Europe, has formally announced that it has split its Turkish business, Multi Turkmall, into separate development and fund units.
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PropertyEU Archive
Goodman pre-sells French distribution centre to Lidl
Sydney-listed Goodman Group has announced it is selling a 39,392-m[sup]2[/sup] logistics facility at Chanteloup-les-Vignes in the western Paris region to German discount supermarket chain Lidl. Goodman has signed an agreement to develop the new distribution centre which Lidl will acquire on a forward-funding basis for EUR 28 mln.
