All Real Assets articles in Web Issue – Page 58
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PropertyEU Archive
Befimmo's portfolio up EUR 745m in 2006
Brussels-based real estate investment firm Befimmo said the total value of its portfolio reached EUR 1.8 bn last year, up EUR 745 mln in 2005. The large increase in value follows the purchase last December of 90% of the state-owned Fedimmo's portfolio for EUR 725 mln. Befimmo said it is ...
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PropertyEU Archive
RCapital invests EUR 30m in Paris hotel
Luxembourg-domiciled property fund RCapital, headed by Umberto Ronsisvalle, has acquired the Holiday Inn Paris Opera hotel in the heart of the French capital for EUR 30 mln, Italian newspaper IlSOle24Ore has reported.
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PropertyEU Archive
GE RE acquires fourth mall in Slovakia
GE Real Estate has acquired a shopping centre in the western Slovak town of Nitra from local developer EuroMAX Slovakia for EUR 23 mln. The mall, anchored by local food chain Terno, provides some 15,000 m[sup]2[/sup] of retail space including 90 stores and a multiplex cinema.
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PropertyEU Archive
IPI share trading suspended after arrest
Italian real estate investor Danilo Coppola was arrested on Thursday for suspected money laundering and embezzlement in relation to a bankruptcy case. Coppola is the chairman and ceo of the Italian listed real estate company IPI. Trading in the company's shares was suspended. IPI stated it wasn't aware of the ...
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PropertyEU Archive
Czech National Bank paves way for RE funds
The Czech National Bank (CNB) has issued a long-awaited certificate to enable banks in the country to launch real estate funds for small investors, with the first one to be set up as early as March 2007 by Ceska Sporitelna Bank' investment vehicle Reico. Speculative trading in real estate has ...
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PropertyEU Archive
Pirelli RE becomes Italy's leading facility management firm
Pirelli RE has announced the closing of the purchase of Ingest Facility, a facility management company formerly part of Fiat Group and mainly active in Italy and Poland. The deal, which has got the green light by Italian and Polish antitrust authorities, is worth a total of EUR 50.3 mln.
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PropertyEU Archive
Invista buys Galaxy leisure centre
Invista Real Estate, the largest listed property investment manager in the UK, has acquired the Galaxy leisure complex in the southern English city of Luton for £21 mln (EUR 30.9 mln) on behalf of Invista Foundation Property Trust. The centre is home to a 10-screen cinema, a bowling alley and ...
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PropertyEU Archive
Hochtief to develop Hamburg concert hall
German construction company Hochtief has been awarded a EUR 241.3 mln contract to develop and operate the Elbphilharmonie concert hall and hotel complex in the German city of Hamburg. Hochtief added that it is heading a syndicate which also includes Commerzleasing and Immobilien AG. The complex will include a ...
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PropertyEU Archive
Henderson snaps up Parque Miramar
Henderson Global Investor has entered Spain with the purchase of 50% of the Parque Miramar site, including a shopping centre and retail warehouse park with a combined asset value of EUR 200 mln. London-based Henderson has been advised by global consultant Cushman & Wakefield.
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PropertyEU Archive
Inmoracal set to list up to 20% of SFL
Spanish property group Inmocaral is planning to list between 15-20% of its French unit Societe Fonciere Lyonnaise (SFL) on the Paris stock exchange to ensure more liquidity, Spanish daily La Gaceta reported, citing ceo Mariano Miguel. The company will place the stake to abide by new French regulations stating that ...
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PropertyEU Archive
IIB and SEDCO sell prime London office for EUR 312m
Bahrain-based International Investment Bank (IIB) and the Saudi Economic Development Company (SEDCO), a private Islamic investment firm in Saudi Arabia, have announced the sale of the 25,000 m[sup]2[/sup] office building located at 33, Grosvenor Place in the prestigious Belgravia area of London for $409 mln (EUR 312.4 mln). The identity ...
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PropertyEU Archive
Natixis, Eurohypo finance UBS purchases for EUR 350 mln
French bank Natixis and its German peer Eurohypo have provided a EUR 350 mln loan to UBS Wealth Management Continental European Property Fund for the purchase of two office buildings in Frankfurt, Germany. The assets, acquired last year, include the Alkame building and the 38-storey 43,000 m[sup]2[/sup] Skyper tower. The ...
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PropertyEU Archive
Lend Lease tipped to develop £5bn Olympic site
Australia-based property group Lend Lease is poised to win more than £5bn (EUR 7.3) of development work on the London 2012 Olympic Village and the adjoining Stratford City urban renewal project, The Financial Times newspaper has reported, citing the Olympic Delivery Authority's ceo David Higgins.
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PropertyEU Archive
Accor sells 91 hotels for EUR 863m
Hotel group Accor has signed a memorandum of understanding to sell 72 hotels in Germany and 19 in the Netherlands to Moor Park Real Estate for EUR 863 mln, including a EUR 43 mln renovation programme.
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PropertyEU Archive
Patron Capital raises EUR 895m for its LP III fund
London-based private equity investment advisory firm Patron Capital has announced the closure of its third private equity fund, Patron Capital L P III, with total commitments of EUR 895 mln. Launched last December, Fund III is focusing on investments in real estate across a range of property assets in western, ...
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PropertyEU Archive
Private equity groups face Sainsbury bid ultimatum
The private equity consortium at centre of the takeover speculation surrounding UK supermarket group Sainsbury is facing an ultimatum to make a formal bid in the next few days or back off. The UK's Observer newspaper reported on Sunday that the Takeover Panel is to call the consortium, consisting of ...
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PropertyEU Archive
EQT buys Nordic region's largest hotel chain
Stockholm-based EQT has acquired the Nordic region's largest hotel chain Scandic for EUR 833 mln. The deal includes a total of 132 hotel sites in Scandinavia, with 128 under the Scandic brand and three under the Hilton banner. The sale is expected to be finalised in April, pending approval by ...
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PropertyEU Archive
Construction starts for Roncade's outlet centre
Gruppo Basso's subsidiary Lefim has begun construction of its EUR 80 mln Roncade Outlet Gallery near the Italian city of Venice. Roncade will be the first outlet centre in Italy's Veneto region.
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PropertyEU Archive
Corio purchases Turkish mall
Corio is to invest some EUR 50 mln in the purchase of Adacenter shopping mall currently under development in Adapazari, north-western Turkey. In addition, the company has been invited to take a 7% stake in the large-scale Acibadem project which is to be developed in the Asian side of ...
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PropertyEU Archive
US property derivatives market to launch
Four of the world's largest banks are teaming up to launch the first US commercial property derivatives market. The lenders, including Credit Suisse, Goldman Sachs, Merrill Lynch and Bank of America, will work together with the National Council of Real Estate Investment Fiduciaries (NCREIF) to create a trading platform ...
