All Real Assets articles in Web Issue – Page 568
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PropertyEU Archive
Metrovacesa gets extension on EUR 230m facility
Spanish debt-laden property company Metrovacesa has received a six-month extension on repayments of a EUR 230 mln syndicated credit facility granted in April this year. In a statement to the stock market regulator CNMV, the Madrid-based group said that the six financial institutions owning 65% of the company have decided ...
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PropertyEU Archive
ING RE Finance sees new business decline 40%
ING Real Estate Finance (ING REF) saw its new commercial real estate business fall 42% to EUR 4 bn in 2009 from EUR 7 bn the previous year, according to PropertyEU's annual survey of the top financiers in Europe. In terms of outstanding volume, however, ING REF still ranks among ...
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PropertyEU Archive
Fimit-First Atlantic merger to create EUR 8b asset manager
Italian real estate fund manager Fondi Immobiliari Italiani (Fimit) has signed a non-binding memorandum of understanding (MoU) about merging with First Atlantic Real Estate, the real estate fund management arm of Milan-listed private equity investment group Dea Capital.
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PropertyEU Archive
AEW sells Omega office building near Paris
Real estate investment manager AEW Europe has announced the sale of the Omega 7 office building located at Kremlin-Bicêtre, in the southern suburbs of Paris, to insurance group La Mutuelle Générale. The transaction was brokered by AEW on behalf of the owner, French bank Caisse des Dépôts. The financial details ...
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PropertyEU Archive
Fund of funds pioneers launch new firm
Anders Astrom and Tomas Otterud, the founders of Aberdeen Property Investors' real estate fund of funds business (API IIM) have joined forces to create Custor Capital, an independent investment firm focused on global customised real estate solutions for institutional investors.
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PropertyEU Archive
Cofinimmo disposes of 717,000 shares
Brussels-listed real estate firm Cofinimmo has disposed of 717,500 of its own shares in the market during August at an average price of EUR 92.56 per share.
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PropertyEU Archive
Skanska, KBS to develop 63,000-m[sup]2[/sup] mall in Trondheim
Norwegian firm KBS Kjøpesenter, part of Realinvest, has contracted Skanska Norway to build a shopping centre in Trondheim. The construction contract amount is NOK 477 mln (EUR 60 mln).
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PropertyEU Archive
NCC to invest EUR 107m in Malmo mixed-use project
Finnish firm NCC has started the construction of Triangeln, a mixed-use development programme in central Malmo, Sweden. The company said that it plans to invest SEK 1 bn (EUR 107 mln) in the project, which consists of a shopping mall on two floors and housing and retail premises on the ...
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PropertyEU Archive
Kungsleden acquires retirement home for EUR 14m
Swedish listed property company Kungsleden is acquiring a retirement home located in Uppsala, near Stockholm, through Hemsö, its joint venture with the Swedish Third Pension Insurance Fund (AP3).
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PropertyEU Archive
Hansteen has EUR 300m firepower for distressed acquisitions
Hansteen, the UK REIT investing in continental European and UK real estate, has firepower totalling £254 mln (EUR 307mln) for 'distressed opportunities'.
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PropertyEU Archive
COLUMN: Widening real estate's capital-raising base
One very important lesson to emerge from the recent financial crises has been the need to reduce the over-reliance of the European property sector on bank lending as a primary mechanism for capital-raising.
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PropertyEU Archive
LaSalle completes major refurbishment of Lion Walk, Colcheste
LaSalle Investment Management has completed a major refurbishment of the Lion Walk shopping centre in Colchester. The 18,600-m[sup]2[/sup] shopping centre is home to 35 of Britain’s most popular retailers, the asset manager said.
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PropertyEU Archive
European listed sector poised for M&A surge
Europe's listed real estate sector is set for a new round of takeovers, signalling that the worst of the downturn may be over. 'This is the time for a new round of M&A to reach the industry. It will likely be a long-term process, similar to the last wave of ...
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PropertyEU Archive
MPC extends lease at Europoint II
MPC Real Estate Services has sealed a new lease agreement with Rotterdam's local authority for the Europoint II office complex.
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PropertyEU Archive
Westimmo sees 19% decrease in H1 pre-tax earnings
German real estate financier Westimmo booked pre-tax earnings of EUR 35.5 mln, down 19.5% on earnings of EU$ 44 mln for the same period last year.
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PropertyEU Archive
MPGA acquires portfolio of 140 properties from Aldi
MGPA, the private equity real estate investment advisory company, announced on Wednesday that it has exchanged contracts to acquire a portfolio of 140 properties in a sale-and leaseback transaction from German retail discounter Aldi.
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PropertyEU Archive
Credit Suisse AM buys new Endemol HQ in Amsterdam for EUR 65m
Credit Suisse Asset Management has acquired the Medi-Arena office complex in the south-east of Amsterdam for one of its funds. The investment volume for the 19,500-m[sup]2[/sup] property and a 480 parking garage comes to EUR 65 mln.
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PropertyEU Archive
DEAL ANALYSIS: large hotel deals lift market
News of the pending sale of Norgani Hotels for just over EUR 1 bn follows signs that investor jitters have persisted over the summer. Jones Lang LaSalle, for instance, warned at end-July that investors now seem more hesitant in Europe due to concerns about sovereign debt and austerity packages.
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PropertyEU Archive
APG sets sights on real estate debt opportunities
APG Asset Management, the investment vehicle of EUR 200 bn Dutch pension fund ABP, has its sights on real estate related debt opportunities. But such debt opportunities are limited in Europe, APG's global head of real estate investment Patrick Kanters told PropertyEU in an interview.
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PropertyEU Archive
Inrev director seconded to Asian fund association
Inrev's Andrea Carpenter is to join sister organisation Anrev, the Asian Association for Investors in Non-Listed Real Estate Vehicles on a three-month secondment.
