All Real Assets articles in Web Issue – Page 545
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PropertyEU Archive
PIK retreats from commercial property development
London-listed developer PIK Group has divested its commercial real estate unit, Storm Properties, to refocus on the residential market in and around Moscow.
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PropertyEU Archive
P3 to build 63,000-m[sup]2[/sup] Slovakian facility with Inva Group
Arcapita Bank's European logistics property arm PointPark Properties (P3) has signed a partnership agreement with the local developer Inva Group for the development of a new logistics park in eastern Slovakia. The new facility, called PointPark Kolice, will consist of three buildings offering 63,000 m[sup]2[/sup] of A-quality distribution space on ...
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PropertyEU Archive
Echo unveils EUR 1.2b investment plan
Warsaw-listed Echo Investments is planning 56 new real estate projects over the next five years for a total investment of PNL 5 bn (EUR 1.2 bn). The projects include 13 commercial centres, 16 office buildings, 26 residential projects and a hotel.
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PropertyEU Archive
Patrizia buys EUR 125m worth of German apartments
Listed German property firm Patrizia has announced that one of its subsidiaries is acquiring a total of 50,000-m[sup]2[/sup] of residential real estate on behalf of its special funds. The investment volume comes to more than EUR 125 mln.
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PropertyEU Archive
AMB Property leases 8,900m[sup]2[/sup] in Hamburg development
New York-listed industrial space specialist AMB Property Corporation has leased the remaining 8,900 m[sup]2[/sup] of its AMB Hausbruch Industrial Center A in Hamburg, Germany. Kuehne + Nagel, a global leader in international forwarding, will use the space to accommodate its expanding business requirements. Kuehne + Nagel is now the sole ...
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PropertyEU Archive
Cofinimmo divests three properties for EUR 37m
Brussels-listed Cofinimmo has announced the disposal of three properties for a total of EUR 36.8 mln. This amount represents a realised gain of 1% compared to the total investment value of the assets. Cofinimmo said the sales were in line with its stated asset arbitrage policy. The proceeds will ...
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PropertyEU Archive
Plaza's US jv take 48% stake in Macquarie DDR Trust
Emerging markets property developer Plaza Centers has announced that its joint subsidiary, EPN, has completed its first investment in the US, with its $116 mln investment in Macquarie DDR Trust (MDT).
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PropertyEU Archive
Real I.S. invests EUR 90m in Regensburg office project
Real I.S. has invested around EUR 90 mln on the purchase of an office project in Regensburg, Germany through its new German-focused investment fund. The investment volume includes EUR 47 mln of Real I.S.' own capital.
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PropertyEU Archive
Development Secs completes acquisition of Manchester arena
London-listed Development Securities has completed the acquisition of the Manchester Evening News Arena (MENA) for £62.2 mln (EUR 75 mln), reflecting a net initial yield of 7.15%.
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PropertyEU Archive
XXI Century suspends trading on AIM
Trading in the shares of XXI Century Investments on London's junior AIM market have been suspended at the request of the Ukrainian real estate firm as efforts to shore up its balance sheet continue. XXI Century said trading on the stock exchange will resume once it is in a position ...
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PropertyEU Archive
John Clare appointed chairman of Capital & Regional
Capital & Regional, the UK co-investing property asset manager, has announced the appointment of John Clare as chairman with effect from 29 June 2010.
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PropertyEU Archive
DTZ appoints director for Corporate Real Estate Consulting
Real estate adviser DTZ has appointed John Keyes as director in the firm's Corporate Real Estate Consulting business. Keyes will be based in DTZ's Manchester office providing strategic real estate advice to clients across the UK. Keyes joins DTZ from GVA Grimley where he was a director in the Occupier ...
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PropertyEU Archive
AXA eyes ING REIM in expansion drive
The real estate arm of insurance giant AXA is considering making a bid for ING Real Estate Investment Management (ING REIM). Speaking at the Reuters Global Real Estate and Infrastructure Summit in London this week, AXA chief investment officer Dennis Lopez said a bid for ING REIM was being mulled ...
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PropertyEU Archive
Newsec to expand in the Baltic region
Newsec, the northern Europe full-service property advisor, is expanding in the Nordics through the takeover of broker Re&Solution. On Wednesday Newsec announced it had acquired an additional 16% of the shares in the leading property consultant in the Baltic region. Newsec now owns 51% of Re&Solution. The operation will be ...
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PropertyEU Archive
East Capital returns Russian fund equity to investors
Swedish independent asset manager East Capital has decided to terminate its Russian property fund and return the equity to investors. The East Capital Russian Property fund was launched in 2008 but has not made any investments.
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PropertyEU Archive
Castello's Giotto fund shops in Sardinia
An opportunity fund managed by Italy's Castello Sgr has invested nearly EUR 40 mln in the acquisition of several plots of land in Chia, Sardinia. The sites have been sold by Baia Chia Hotels to the Giotto opportunity real estate fund.
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PropertyEU Archive
Pik Group names new chairman
London-listed Pik Group, one of Russia's leading residential real estate developers, has announced the appointment of Pavel Grachev as chairman of the board of directors.
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PropertyEU Archive
Foreign investors slam tighter rules for Italian funds
Foreign investors have slammed a recent proposal by the Italian government to scrap longstanding tax benefits for foreign institutions investing in Italian property funds. The changes, which were put forward last week, may be enforced by the year-end as part of Italy's 2010 Budget Law.
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PropertyEU Archive
Moody's assigns Corio Baa1 rating
Moody's Investors Service has assigned Dutch REIT Corio a Baa1 long-term issuer rating with a stable outlook. Executives of the retail property specialist have had regular meetings with Moody’s in recent months as part of a ratings application process aimed at broadening its funding base.
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PropertyEU Archive
Immofinanz sells portfolio in Germany for EUR 100m
Vienna-listed Immofinanz has sold a German portfolio of 28 properties to Bauen und Wohnen (Buwog) for EUR 100 mln. This is the first major acquisition by Bauen und Wohnen, an Austrian firm, in the German property market.
