All Real Assets articles in Web Issue – Page 596
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PropertyEU Archive
Evans Randall completes Drapers Gardens acquisition
Evans Randall has completed its acquisition of the recently developed Drapers Gardens building in the City of London for £242.5 million (EUR 276.6 mln.), from a joint venture including Canary Wharf Group and a subsidiary of the Morgan Stanley Real Estate Funds (MSREF). The deal was first announced in August.
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PropertyEU Archive
Bormann to leave Orco Germany after restructuring
Orco Germany has said managing director Rainer Bormann has decided not to extend his contract beyond end-October 2011 on the completion of the listed company’s restructuring programme.
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PropertyEU Archive
Kungsleden hires new business development professionals
Listed Swedish property company Kungsleden has hired Frida Stannow Lind and Andreas Norberg. Norberg has been employed as a project manager in transactions, and will work on property transactions and analysis. He is currently director of CBRE's Capital Markets division, where he has been advising on transactions for the past ...
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PropertyEU Archive
Degi funds remain frozen with more sales on the cards
Degi International and Degi Global Business open-ended property funds will remain closed to redemptions, due to 'insufficient liquidity', a spokesperson for parent company Aberdeen Asset Management said. The freeze on the Degi International fund will remain in place until 16 November 2011. Aberdeen’s Degi Global Business fund will be closed ...
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PropertyEU Archive
Trigranit opens new centre in Zagreb
Budapest-based developer Trigranit has opened Arena Centar in Zagreb, its first shopping centre in Croatia. The new mall is located at the south-western entrance to the Croatian metropolis beside the multifunctional Arena Zagreb venue.
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PropertyEU Archive
'Developer is a dying profession’
Retail developers need to review their strategies following the wave of shopping centre development in the recent past, according to Jaap Gillis, COO of Europe’s leading private real estate company Redevco. ‘The independent developer, in my opinion, is a dying profession. The successful ones who redevelop in the future ...
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PropertyEU Archive
F&F opens first stand-alone outlet in Prague
The first F&F fashion brand stand-alone store opened in central Prague at the end of September. The 500-m[sup]2[/sup] store in Palladium shopping centre is a world first for the brand.
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PropertyEU Archive
MPS plans EUR 1.5 bn mortgage-backed sale
Italy's Banca Monte Paschi di Siena is planning to sell EUR 1.5 bn of securities in the country's first residential mortgage-backed securities operation since the start of the credit crisis. Market regulator Consob last week authorised Italy's oldest bank to go ahead with its offer of asset-backed securities, planned for ...
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PropertyEU Archive
FdR gets EUR 270m refinancing for CB 21 tower
French listed property group Fonciere des Regions (FdR) has received a EUR 270 mln refinancing loan for its CB 21 tower in the Paris business district of La Defense. The loan was granted by a syndicate of German banks including Bayerische Landesbank (BayernLB), Berlin-Hannoversche Hypothekenbank (Berlin Hyp) and Deutsche Genossenschafts-Hypothekenbank ...
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PropertyEU Archive
Vastned acquires store in Istanbul for EUR 30m
Vastned Retail has acquired its seventh prime high street premises in the heart of Istanbul for EUR 29.5 mln, including purchase costs, from Yapi Kredi Bank (YKB). The pan-European retail property fund now has a EUR 90 mln-plus portfolio in Turkey.
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PropertyEU Archive
Terreis buys EUR 92m worth of Paris assets
French SIIC Terreis said that it has acquired EUR 92 mln worth of French properties as it seeks to take advantage of investment opportunities in the market. The company has acquired three office buildings and seven retail units in Paris and its surroundings in the past quarter, bringing the total ...
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PropertyEU Archive
AEW Europe buys Paris logistics development
Paris-based investment manager AEW Europe has acquired a development project in the Bonneuil logistics park near Paris from developer Sodearif, part of the Bouygues Group. The acquisition is earmarked for AEW Europe's Logistis I fund.
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PropertyEU Archive
Demand and rent recovers in industrial sector: CBRE
Industrial markets across the globe are now in recovery mode, albeit at very different stages, with Asia leading the rental recovery according to a new MarketView report from CB Richard Ellis (CBRE). All regions witnessed increases in investment spend in the first half of 2010, with appetite strongest across ...
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PropertyEU Archive
Metroinvest swoops in the City
Spanish investment firm Metroinvest has acquired an office building in the City of London from an unnamed seller for around EUR 48 mln. The 55 Moorgate property provides around 6,200 m[sup]2[/sup] of space across eight floors and is leased to BNP Paribas with a nine-year rental agreement.
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PropertyEU Archive
Icade gets mandate to manage Cristal tower
The property management unit of French property group Icade said that it has received a mandate to manage the Cristal tower on the Seine riverfront in the 15th arrondissement of Paris.
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PropertyEU Archive
Redevco secures retailers for Drogenbos redevelopment
Redevco Retail Belgium has secured all key anchors for a 29,000-m[sup]2[/sup] complex currently being redeveloped in Drogenbos, one of the most important peripheral retail parks in Belgium.
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PropertyEU Archive
Trigranit eyes expansion in Poland
Budapest-based developer Trigranit Development Corporation is targeting Poland for further expansion, CEO Arpad Torok told PropertyEU in an interview. 'We see both green and brownfield opportunities in a number of Polish cities and also see scope for more public-private partnerships with PKP,’ he said.
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PropertyEU Archive
Gecina targets EUR 9b portfolio by 2014
French property company Gecina is pushing ahead with plans to nearly double its office property portfolio from EUR 5.5 bn at present to roughly EUR 9 bn in the next three years.
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PropertyEU Archive
Helaba lifts pre-tax earnings to EUR 284m for first 9 months
German financier Helaba said on Tuesday that it overcome the adverse valuation effects experienced in the second quarter and increased group net profit for the first nine months of the business year to almost the previous year's level.
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PropertyEU Archive
Pakistani family buys 5-star hotel in London
Savills and Gerard Nolan & Partners, on behalf of a UK property company, have sold St James's Hotel & Club, 7 - 8 Park Place, London for a price in the region of £55-£60 mln (EUR 64-70 mln) to Pakistan's billionaire Mansha family.
