All Real Assets articles in Web Issue – Page 541
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PropertyEU Archive
UFG RE buys from Akron in Moscow
Russian fund manager UFG Real Estate has announced the acquisition of a 5,100-m[sup]2[/sup] building located on Bakhrushina Street in Moscow. The property was bought from Austria's Akron Group for a price said to be around $35 mln (EUR 28 mln).
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PropertyEU Archive
Annika Drotz joins Savills Sweden
Savills has recruited retail expert Annika Drotz to join as a director of its Stockholm-based office. Drotz was previously head of operations management Nordics at Unibail-Rodamco. Prior to Unibail-Rodamco she worked at Ernst & Young and has over 17 years experience in the property sector.
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PropertyEU Archive
Steen & Strøm appoints new CEO
French real estate firm Klépierre announced on Thursday that Jan Ove Holmen is to become CEO of Steen & Strøm, the largest shopping centre owner in the Scandinavia region. Klépierre and Dutch pension group ABP acquired Steen & Strøm for EUR 2.7 bn in 2008. Klépierre owns a 56.1% share.
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PropertyEU Archive
Poland's Fashion House to build second Russian outlet centre
Poland's Fashion House Development has purchased a 12.4-hectare plot of land in Saint Petersburg for the development of a second retail outlet centre in Russia. The purchase comes shortly after the company unveiled plans in late 2009 to invest $100 mln (EUR 76 mln) in the development of the country's ...
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PropertyEU Archive
Orchid Developments, Ikea open Bulgarian retail schemes
UK-listed Orchid Developments has announced the opening of a EUR 150 mln shopping centre in Bulgaria's third largest city of Varna. The Grand Mall Varna is one of the biggest retail complexes in Bulgaria and the largest in Varna, providing 50,000 m[sup]2[/sup] of retail space.
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PropertyEU Archive
Magazine: ISA calls for single pan-European sustainability standard
The International Sustainability Alliance (ISA) has called for a single pan-European standard for the real estate sector. In an interview for the June edition of PropertyEU Magazine, ISA co-chair elect Jaap Gillis said: 'There should be one standard, one benchmark for Europe'.
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PropertyEU Archive
Goodman, SWIP seal distribution centre leasing
Global property group Goodman and Scottish Widows Investment Partnership (SWIP) have let a new 22,400-m[sup]2[/sup] distribution centre at Hoddesdon Commercial Park, in Hertfordshire, to Wincanton.
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PropertyEU Archive
Crocus Group opens Russia's largest mall
Russia's Crocus Group announced the opening this week of its Vegas retail and leisure centre in Moscow. With over 300 shops and a 400,000 m[sup]2[/sup] surface area, the property represents Russia's largest shopping mall, Crocus said.
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PropertyEU Archive
Reyal Urbis swaps EUR 175m of property for debt
Spanish property developer Reyal Urbis has agreed to exchange EUR 175 mln worth of real estate for debt held by lender Banco Sabadell. The Spanish developer last month restructured its credit facilities with a consortium of 51 financial institutions.
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PropertyEU Archive
Colonial launches EUR 2b capital increase
Madrid-listed real estate firm Colonial is launching a EUR 1.95 bn capital increase in a bid to 'strengthen its financial structure in the long term and support the company's strategic plan'.
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PropertyEU Archive
Galotti transfers EUR 200m worth of projects to new funds
Italian firm Galotti has transferred a number of development projects to the Q2 and Q3 value-added funds, which will be managed by asset manager Quorum. The commercial projects will entail a total investment of EUR 200 mln.
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PropertyEU Archive
Klepierre, Icade in EUR 400m mixed-use project near Paris
French property companies Icade and Klépierre Ségécé are investing EUR 400 mln to develop the Millénaire regional shopping centre in Aubervilliers, north of Paris.
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PropertyEU Archive
Acciona sells Madrid building for EUR 51m
Spanish lender Banco Sabadell has acquired the corporate headquarters of technology group Telvent in the Alcobendas district of Madrid from Acciona Inmobiliaria for EUR 51 mln. The acquisition was carried out on behalf of Sabadell's BS Inmobiliario fund and reflects an initial yield close to 9%.
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PropertyEU Archive
Dutch pension fund invests EUR 75m in UK mall trust
Dutch pension investor PGGM has announced it is investing about EUR 75 mln in Standard Life Investment's UK Shopping Centre Trust. The investment is based on an agreement between PGGM and SLI, one of the larger managers of real estate funds in Europe, signed in December 2009.
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PropertyEU Archive
ABN Amro relaunches property financing activities
ABN Amro Bank is to re-launch its real estate financing activities after a years-long absence from the market. The lending arm will draw on the existing expertise within the bank and that of its merger partner Fortis Bank.
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PropertyEU Archive
NewRiver Retail acquires UK retail portfolio from Redevco
AIM-listed NewRiver Retail has announced it has exchanged contracts with European retail property manager Redevco to acquire a portfolio of six long leasehold UK retail assets for a total of £19.1 mln (almost EUR 23 mln).
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PropertyEU Archive
Berggruen wins bid for Karstadt
Private equity firm Berggruen Holdings has won the bid for insolvent German retailer Karstadt, insolvency administrator Görg said late on Monday in a statement.
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PropertyEU Archive
Europe and US to see biggest pick up in distressed sales: RICS
Europe and the US are set to see the biggest rise in distressed sales, according to the RICS Global Distressed Property Monitor Q1 2010 published on Monday.
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PropertyEU Archive
China Real Estate Opps moves listing from London to Singapore
China Real Estate Opportunities (CREO) announced on Monday that its shareholders have backed moving the company's listing from the Alternative Investment Market (AIM) in London to Singapore. CREO's listing on AIM will now be cancelled and shareholders will receive five units in Treasury China Trust (TCT) for each CREO share ...
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PropertyEU Archive
Henderson raises EUR 109m in first close of London office fund
Henderson Global Investors has announced it raised £90 mln (EUR 109 mln) of capital from a number of European and North American institutional investors in the first close of its Henderson Central London Office Fund II (CLOF II). The equity raise gives the fund up to £200 mln of spending ...
