All Real Assets articles in Web Issue – Page 550
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PropertyEU Archive
Hermitage signs agreement for EUR 2b tower at La Defense
Hermitage, the French property arm of Russian group Stroimontage, has signed a preliminary agreement with municipal authorities to build two 320-metre skyscrapers, called Hermitage Plaza, in the La Defense business district on the outskirts of Paris. Hermitage intends to apply for the final building permits by end-July.
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PropertyEU Archive
SEB fund acquires Munich store for EUR 20m
SEB Asset Management has increased the number of German properties in its global open-ended SEB ImmoPortfolio Target Return fund to 13 of the total 45 following the acquisition of a commercial property with a long-term lease. The total investment costs are EUR 20.4 mln.
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PropertyEU Archive
UFG Rem buys from UBS for EUR 42m
French fund manager UFG Rem has acquired office building Le Confluent in Maisons-Alfort near Paris from one of UBS Global Real Estate's investment funds. The acquisition price amounts to around EUR 42 mln.
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PropertyEU Archive
Sjælsø sells residential project to PKA for EUR 43m
Danish listed property group Sjælsø has signed an agreement to sell over 100 apartments to PKA, an administration company for Danish pension funds, for DKK 325 mln (EUR 43 mln).
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PropertyEU Archive
HSH Nordbank places EUR 500m public-sector Pfandbrief
HSH Nordbank has re-entered the public capital markets by placing a EUR 500 mln public-sector Pfandbrief with a term of three years and a coupon of 1.75%. The reoffer price was fixed at 99.904%. This equals a reoffer spread of 20 basis points above mid-swaps.
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PropertyEU Archive
Raven Russia to move from AIM to LSE main board
Warehouse specialist Raven Russia plans to move the listing of its shares and warrants from the Alternative Investment Market (AIM) to the Official List of London Stock Exchange.
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PropertyEU Archive
Altarea Cogedim invests in Paris and Marseille
French retail specialist Altarea Cogedim has announced two major mixed-use redevelopment projects in Paris and Marseille. In the French capital, the company is launching the redevelopment of the former Laennec hospital located in the seventh arrondissement.
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PropertyEU Archive
Deka Immobilien buys logistics asset near Paris
Deka Immobilien has bought a logistics asset near Paris for around EUR 27 mln from a fund managed by AEW Europe. The property, located in Brie-Comte-Robert Park, will be added to Deka's open-ended WestInvest TargetSelect Logistics fund.
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PropertyEU Archive
LaSalle launches Balanced UK Property Fund
Global investment manager LaSalle has launched the Balanced UK Property Fund for institutional investors. The new investment vehicle is a core open-ended UK property vehicle.
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PropertyEU Archive
Noack joins Union Investment management team
Volker Noack has been appointed deputy member of the management board of Union Investment Real Estate with effect from 1 July 2010. The 46-year-old, who holds a degree in business administration, will be responsible for fund management and finance and participations.
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PropertyEU Archive
Unicredit to relocate to Milan's Porta Nuova
Italian banking giant Unicredit has agreed to lease two of the office towers currently being constructed by American developer Hines in the Porta Nuova area of Milan. The property, which is expected to be completed by the end of 2012, is located in a new urban business park designed by ...
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PropertyEU Archive
Helaba arranges EUR 180m financing for Value Retail outlet centre
Landesbank Hessen-Thüringen (Helaba) has arranged a EUR 180 mln consortium loan for Value Retail's La Vallée Village outlet centre near Paris. La Vallée Village has consistently been rated the pre-eminent luxury outlet centre on the Continent with over 90 of the world's premier fashion and luxury brands.
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PropertyEU Archive
Schoenherr advises on EUR 272m Europolis sale
Central European law firm Schoenherr has advised Österreichische Volksbanken-Aktiengesellschaft (ÖVAG) on the sale of its subsidiary Europolis to CA Immo. CA Immo is paying EUR 272 mln for the 100% stake.
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PropertyEU Archive
DTZ to manage 5 malls in Poland
DTZ has announced it has been appointed by Macquarie Capital Funds (Europe) to provide property and asset management services for five retail properties in Poland. After taking over the new 300,000-m[sup]2[/sup] portfolio on 1 July, DTZ is now the largest independent property management firm in Poland with 33 properties under ...
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PropertyEU Archive
Befimmo disposes of Empress Court for EUR 51 mln
Befimmo is disposing of its Empress Court office building in Brussels for EUR 51 mln. The Brussels-listed firm announced that it has accepted an irrevocable tender offer for the property from Belgian water utility company Vivaqua.
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PropertyEU Archive
Adler named CEO-Europe at Pramerica Real Estate Investors
Pramerica Real Estate Investors has hired Eric Adler as CEO-Europe, responsible for overseeing its investments and transactions activities throughout Western Europe and the emerging markets of Central and Eastern Europe.
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PropertyEU Archive
Alvarez & Marsal launches European property advisory business
Alvarez & Marsal, an independent global professional services firm, has launched a real estate advisory business in Europe and named Scott Morey as managing director and the head of the practice. Morey was formerly chief operating officer and chief financial officer of one of the largest mixed use and residential ...
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PropertyEU Archive
Nadine Castagna leaves Mipim organisation
Events organiser Reed Midem has announced that Nadine Castagna, director of Mipim, Mipim Horizons and Mipim Asia, is leaving the company. Her last day with Mipim was 30 June.
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PropertyEU Archive
Protego rebrands as Cornerstone
Protego, the UK and Continental European real estate investment management company, has changed its name to Cornerstone. The move follows the completion of the acquisition of Protego by Cornerstone Real Estate Advisers, a wholly owned subsidiary of the Massachusetts Mutual Life Insurance Company (MassMutual), in January this year.
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PropertyEU Archive
GPR 250 Europe Index records 0.7% return in June
European listed real estate recorded a weak return of 0.8% in June compared to a lively 6% bounce in May, according to the GPR 250 Europe Index.
