All Real Assets articles in Web Issue – Page 59
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PropertyEU Archive
Foundation stone laid for Hungarian retail park
The foundation stone has been laid for Market Central Ferihegy, Hungary's first integrated retail park during a special ceremony on Friday. The project represents an investment value of more than HUF 10 bn (EUR 39 mln) and is located on a 16-hectare site adjacent to Budapest's Ferihegy international airport. Developer ...
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PropertyEU Archive
Sanahujas make offer for Metrovacesa shares
Metrovacesa's majority shareholder the Sanahuja family has announced it will launch a cash offer for all Metrovacesa share that minor shareholders decide not to exchange for stock in Metrovacesa's French unit Gecina, as part of process of splitting up Metrovacesa.
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PropertyEU Archive
Corio to issue $1.2 bn senior notes
Dutch property company Corio is to issue $1.21 bn of senior unsecured notes through a private placement to about 30 institutional investors. The senior notes will consist of four tranches with maturities of 7, 10, 12 and 15 years, with a weighted average maturity of about 11 years.
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PropertyEU Archive
Turkey set to raise up to $1 bn from land sale
The Turkish government could raise as much as $1 bn (EUR 761 mln) through the sale of 95,000 m[sup]2[/sup] build-on land in Istanbul's Levent district. Possible buyers include Turkish firms Zorlu Group and Global Yatirim, as well as Israeli tycoon Sami Ofer, Italian news agency Ansa reported. Dubai's Emir Mohammed ...
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PropertyEU Archive
CGI buys Milan business centre for EUR 125m
German open-ended fund Commerz Grundbesitz-Investmentgesellschaft mbH (CGI) is to acquire the Edison Business Centre development located in Milan's office district of Sesto San Giovanni for EUR 125 mln.
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PropertyEU Archive
Delek poised to invest up to £2.2 bn in Europe
Israeli conglomerate Delek Belron has said it is in negotiations for or considering buying some £2.2 bn of real estate in western Europe and Canada. These deals include participation in the purchase of the Marriott Hotels chain and the highway service station operator RoadChef, both in the UK. Listed on ...
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PropertyEU Archive
Mercialys outlines EUR 955 mln development plan, eyes retail parks
Mercialys, the dedicated property subsidiary of French retailer Gruppe Casino, plans to spend EUR 470 mln on developing new Casino supermarket outlets over the next three years. It will also carry out renovation and extension at existing Casino sites, involving investment of EUR 485 mln up to the end of ...
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PropertyEU Archive
LaSalle fund acquires three German DIY stores
LaSalle Investment Management has acquired three DIY stores in northern Germany from retailer Max Bahr. The properties, each providing approximately 10,000 m2, were acquired for the LaSalle German Retail Venture in a sale and leaseback transaction. The purchase price was between EUR 30 mln and EUR 35 mln.
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PropertyEU Archive
Alstria mulls REIT conversion
Hamburg-based Alstria Office is planning to sell shares in an initial public offer (IPO) on the Frankfurt stock market before the summer, the company said. Alstria is seeking to expand its portfolio significantly in the upcoming years and said it will invest between EUR 500-750 mln in property over the ...
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PropertyEU Archive
Metrovacesa break-up hits Gecina's IPO plan
French Gecina may suspend its plan to consolidate its residential assets in a dedicated unit called Resico to be floated on the stock market. The possible suspension is a result of the 'complex separation agreement between Metrovacesa's main shareholders', Gecina said in a press release on Tuesday. Its shares fell ...
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PropertyEU Archive
Doughty Hanson sells business park in Prague
European real estate fund manager Doughty Hanson & Co has sold its Nove Butovice business park in Prague to Czech and Slovak Property Fund BV for EUR 89.5 mln. The site, acquired and developed by Doughty Hanson in 2001, comprises three office buildings with 27,000 m[sup]2[/sup] of space. The site ...
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PropertyEU Archive
CLS purchases German property
London-listed property investment company CLS Holdings has acquired a mixed-use property in the west German city of Bochum for EUR 18 mln. The transaction reflects an initial yield of 6%. The property includes some 25,115 m[sup]2[/sup] of office and retail space and 643 parking spaces. It is mainly let to ...
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PropertyEU Archive
Cross-border deals swell Europe's investment volumes
Europe has become the world's most active real estate investment market, according to a report issued by global advisor Jones Lang LaSalle. European investment volumes in property rose 44% to $305 bn (EUR 232 bn) in 2006, of which 61% cross-border transactions. Inter-regional investment rose from 34% to 39% of ...
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PropertyEU Archive
GTC to develop retail and offices in Zagreb
The Croatian unit of Globe Trade Centre plans to develop a retail and office complex, Avenue Mall, on a 12,000 m[sup]2[/sup] plot of land it has acquired in Zagreb, the capital of Croatia. The 24,000 m[sup]2[/sup] property will be constructed on Slavonska Avenja, the main entrance road to the city ...
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PropertyEU Archive
NSI's founder sells stake to Israeli Habas
Nieuwe Steen Investments' founder and chairman Jo Roelof Zeeman has sold its 12% stake to Israel-based Habas Group. Zeeman has raised EUR 95 mln from the sale at EUR 22.24 per share. The interest will be transferred into a new Dutch subsidiary company of Habas, NSI's ceo Anka Reijnen said.
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PropertyEU Archive
Prologis ranked No. 1 in Fortune list
Prologis has been ranked No. 1 in the real estate industry on Fortune's 2007 list of America's Most Admired Companies. Fortune ranked ProLogis first in six out of eight performance categories: innovation, people management, use of corporate assets, quality of management, financial soundness, and long-term investment. ProLogis was evaluated against ...
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PropertyEU Archive
Swansea announces £1 bn regeneration plan
The city of Swansea in South Wales is planning to revitalise its city centre through a £1 bn masterplan aimed at linking the city centre with its waterfront. The city's ambition to develop a site which will be 'envy of Europe' has taken a major step forward as three key ...
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PropertyEU Archive
Knight Frank set to invest $1bn in Russia
Property advisor Knight Frank is setting up a fund to invest about $1bn (EUR 762 mln) in offices and shopping centres across Russia's major cities, newspaper Vedomosti has reported. Knight Frank's Rutley Capital Partners will join forces with Duet Private Equity, GVA Sawyer and some other partners to launch the ...
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PropertyEU Archive
Gazit to develop up to 20 malls in Bulgaria
Tel-Aviv listed Gazit-Globe is planning to spend $260 mln to develop shopping centres in Bulgaria. The company told news agency Reuters it will build between 15 and 20 malls over the next five years in the country. Property acquisition and construction will be managed by the company's unit Gazit Globe ...
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PropertyEU Archive
Sonae Sierra's net profit reaches EUR 270m
Sonae Sierra's net profit rose 23% in 2006 to EUR 270.6 mln, while EBITDA increased by 20% from EUR 125.7 mln to EUR 150.3 mln, the company said in its full-year 2006 report. The Portuguese commercial property group indicated it will remain focusing on the international expansion of its business ...
