All Real Assets articles in Web Issue – Page 586
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PropertyEU Archive
Outflows prompt UBS to freeze German open-ended fund
Swiss bank UBS said on Monday that it is halting redemptions from its UBS (D) 3 Sector Real Estate Europe property fund on the back of growing redemption demands from its investors. The vehicle, which had re-opened in October 2009 after over a one-year redemption freeze, will be suspended for ...
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PropertyEU Archive
Kanam Grundinvest fund pays out EUR 1.25 dividend
German fund manager Kanam said its Grundinvest fund paid out a tax-free dividend of EUR 1.25 and posted a 1.1% increase in value over the financial year ended 30 June 2010.
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PropertyEU Archive
Invista to wind up following loss of EUR 2.7bn mandate
Invista Real Estate Investment Management announced on Tuesday that it is to sell all its assets and return the proceeds to its shareholders. The move follows the decision by Lloyd Banking Group to transfer a £2.4 bn (EUR 2.7 bn) fund management contract from Invista to Scottish Widows Investment Partnership ...
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PropertyEU Archive
DTZ predicts 22% increase in capital for global RE investment
DTZ Research estimates that $281 bn (EUR 203 bn) of capital will be available to invest in global real estate in 2011, a 22% increase on DTZ's previous estimate in December 2009. However, no increase is anticipated for Europe.
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PropertyEU Archive
Norwegian insurer takes control of EUR 430m Kista Galleria in Stockholm
Norwegian insurer Vital Forsikring has acquired the 50% stake it did not already own in Stockholm's massive Kista Galleria. The parties did not disclose the exact investment volume but it is believed that the shopping centre is valued in excess of SEK 4 bn (EUR 430 mln).
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PropertyEU Archive
Kungsleden issues EUR 65m bond loan
Listed Swedish property company Kungsleden has issued an unsecured bond loan on the Swedish market. The loan has a value of SEK 600 mln (EUR 65 mln), carries a variable interest and is set to mature in 2015.
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PropertyEU Archive
PCP sells Cologne mall for EUR 70m
British Prime Commercial Properties (PCP) has sold the City-Center Chorweiler shopping centre in Cologne for around EUR 70 mln to a property company in which the German Otto family holds shares. The shopping centre is operated by ECE, which is headed by Alexander Otto.
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PropertyEU Archive
Commerz Real acquires French logistics platform
Commerz Real has acquired a 62,000-m[sup]2[/sup] logistics platform in Mer near Orléans in France from Concerto Développement, a subsidiary of French listed group Affine. Colliers International advised the buyer. The transaction price amounted to EUR 33 mln, excluding transfer taxes, and is in line with the appraisal value at end-2009.
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PropertyEU Archive
C&W makes appointment to client solutions group
Cushman & Wakefield has appointed Waheed Aslam as Strategic Business Planner in its Client Solutions Group. The group, headed by Michael Creamer, provides corporate and institutional occupier clients with an integrated service that covers strategic account management, project management, facilities management, lease administration, property management and building consultancy.
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PropertyEU Archive
Risanamento's sale of Falck area hits delay
Italian listed real estate developer Risanamento said that a planned sale of its Falck development site on the outskirts of Milan has been postponed as banks failed to back the deal in time.
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PropertyEU Archive
Rockspring enters UK student housing market
Rockspring Property Investment Managers has entered the student accommodation market for the first time through the acquisition of 123 Fountainbridge, Edinburgh, in joint venture with Mansion Group. The £14.2 mln (EUR 16.2 mln) acquisition was made on behalf of the Rockspring UK Value Fund.
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PropertyEU Archive
Pension funds invest in telecoms infra vehicle
Dutch pension giants ABP and PGGM are investing in the Rabo Bouwfonds Communication Infrastructure Fund. Fund manager Bouwfonds REIM said that the existing investors, Pensioenfonds Vervoer and DNF, have made further commitments to the vehicle.
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PropertyEU Archive
Lasalle jv buys Notting Hill Estate for EUR 149m
Lasalle Investment Management has teamed up with UK family investment firm William Pears to purchase the Notting Hill Estate in London for £131 mln (EUR 149 mln). The vendors are UK REIT Land Securities and real estate investor Delancey.
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PropertyEU Archive
ICA-Alecta jv to acquire EUR 216m retail portfolio
Nordic retail specialist ICA Real Estate has formed a joint venture with Swedish pension fund Alecta to initially acquire a hypermarket portfolio valued at slightly more than SEK 2 bn (EUR 216 mln).
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PropertyEU Archive
Wereldhave prices EUR 230m bond issue
Amsterdam-listed Wereldhave announced on Wednesday that it has successfully priced a EUR 200 mln offering of unsecured convertible bonds due 2015. The issue size was boosted to EUR 230 mln after Barclays Capital exercised a EUR 30 mln increase option granted to it by Wereldhave.
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PropertyEU Archive
Eurohypo arranges EUR 250m financing for Ruhr mall
German lenders Eurohypo and Deutsche Pfandbriefbank have provided EUR 250 mln financing for the purchase of the Ruhr-Park shopping centre by financial services provider Perella Weinberg.
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PropertyEU Archive
Beni Stabili sells in the US for EUR 50m
Italian listed property company Beni Stabili has completed the disposal of a portfolio consisting of three properties in New York, Chicago and Los Angeles and leased to fashion group Prada. The transaction price amounts to $70 mln (EUR 50 mln), which compares to a book and market value of $66 ...
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PropertyEU Archive
Corio places EUR 500m eurobond
Listed retail property specialist Corio announced on Wednesday that it had successfully placed a EUR 500 mln benchmark eurobond following a four-day road show in Europe.
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PropertyEU Archive
SEB acquires 60% stake in Singapore mall
SEB Asset Management has increased its exposure in Asia by the acquisition of the Chinatown Point shopping centre in Singapore via a joint venture with Asian partners.
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PropertyEU Archive
SEB AM outlines top picks for Asia
Choy-Soon Chua, managing director at SEB Asset Management, tells PropertyEU he is on the hunt for investment opportunities in Asia.
