All Real Assets articles in Web Issue – Page 602
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PropertyEU Archive
CBRE mandated to provide services to AIG's global portfolio
CB Richard Ellis has been selected by American International Group (AIG) to provide facilities, project management and advisory services for the US group's global real estate occupancy portfolio. The multi-year contract with AIG, one of the world's leading insurance companies, encompasses 1.57 million m[sup]2[/sup].
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PropertyEU Archive
Italian investors opt for low-risk retail assets: Savills
Italy is seeing renewed interest from retail investors as yields stabilise at 6.25-6.5% for prime shopping centres and 7-7.25% for retail parks, according to research from property adviser Savills.
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PropertyEU Archive
More prime retail assets to come on market in CEE: JLL
Poland stood out from its regional counterparts so far in 2010 and witnessed stronger investor interest for well performing shopping centres. However, in the short to mid term, capital will return to the rest of CEE and more prime product will become available for sale across the whole region.
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PropertyEU Archive
Nova begins contruction of Bucharest mall
Romanian developer Nova Imobiliare has started construction of the Colosseum Shopping Centre in Bucharest, Romania, the only shopping centre that will be delivered in the city in 2011. Colosseum is located in the north-west of the city and has total investment value i excess of EUR 350 mln.
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PropertyEU Archive
Warimpex and Starwood break ground for Wroclaw hotel
Real estate investors Warimpex and Starwood Capital Group started construction of the first Campanile and Première Classe budget hotels in the centre of the city of Wroclaw, Poland.
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PropertyEU Archive
Savills markets Canadian Embassy office space in Madrid
International real estate advisor Savills, on behalf of the Canadian Embassy, has been instructed to sell its former offices at 35 Nuñez de Balboa Street, Madrid.
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PropertyEU Archive
Germany is top target for retailer expansion: CBRE
Germany is the number one target destination for retailers looking to expand their international presence in 2011, CB Richard Ellis has said in a new report published at Mapic in Cannes.
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PropertyEU Archive
Gecina names development chief for office segment
Gecina has announced that Florent de Malherbe is joining the French property group as chief development officer for Office Real Estate. The Office division is headed by André Lajou.
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PropertyEU Archive
King Sturge mandated to lease two new Polish malls
King Sturge Poland has been appointed as exclusive adviser and leasing agent on two planned shopping centres in Bia³ystok and Siedlce in eastern Poland. 'These are important new schemes and are a further indication of the underlying strength of the Polish retail market,' said Mark Barnes, Head of CEE Retail ...
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PropertyEU Archive
Invesco Real Estate sells French asset for EUR 14m
Invesco Real Estate (IRE), has announced the sale of a Parisian office property for EUR 14 mln on behalf of its client, the iii-BVK Europa-Immobilien-Spezialfonds, an institutional real estate fund of Bayerische Versorgungskammer (BVK), to BNPPREI Management on behalf of a ‘SCPI’ under management, Accimmo Pierre.
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PropertyEU Archive
Plaza Centers raises EUR 15m from Polish investors
Plaza Centers, a leading emerging markets property developer, has raised a total of PLN 60 mln (around EUR 15.2 mln) following the completion of the first tranche of a bond offering to Polish institutional investors. The bonds have a three-year maturity and bear an interest rate of six month Polish ...
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PropertyEU Archive
Tag to launch EUR 174m takeover bid for Colonia
Hamburg-based Tag Immobilien is launching a EUR 174 mln voluntary takeover offer for Cologne-based competitor Colonia Real Estate. In a statement last week, the company offered to pay EUR 5.5 for each Colonia share, representing a 30% premium on the company's average weighted market price for the past three months.
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PropertyEU Archive
Pradera fund acquires three Polish malls for EUR 40m
Pradera Europe has agreed the purchase of three shopping centres in Poland from UK-listed Carpathian for a total of EUR 40.2 mln on behalf of its Pradera Open-Ended Retail Fund (POERF).
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PropertyEU Archive
Top 5 markets account for bulk of European retail deals: CBRE
European retail investment volume reached EUR 7.3 bn in the third quarter of 2010 and was heavily concentrated in only a small number of markets, according to the latest research from CB Richard Ellis (CBRE).
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PropertyEU Archive
Helical Poland secures EUR 72m financing for Gliwice mall
Helical Bar's Polish arm has secured construction financing for Europa Centralna, its flagship retail project near Gliwice in Poland. The company was granted a loan of EUR 72 mln from Aareal Bank for the 67,000 m[sup]2[/sup] scheme which will open in late spring 2012.
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PropertyEU Archive
AEW Europe/Tristan fund confirms logistics transaction
AEW Europe and Tristan Capital Partners have confirmed that a subsidiary of European Property Investors Special Opportunities (EPISO), an opportunistic property fund they co-advise, has sold five logistics assets located in Rugby and southwest London to London & Stamford Property Plc for £123 mln (EUR 144 mln).
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PropertyEU Archive
Portico buys six retail assets in Poland
CEE real estate investor and developer Portico Investments has acquired a portfolio of six retail properties in Poland from Szczecin-based Investa-Gruppe. The acquisition, which was made with 100% of equity, involves six Biedronka stores in the Polish cities of Morag, Kwidzyn, Mysliborz, Zlocieniec, Swidwin and Lidzbark. The financial details were ...
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PropertyEU Archive
Deka, FHH buy into German hotels
German fund manager Deka Immobilien has acquired a four-star hotel property in Essen, Germany in a sale-and-leaseback deal with the Zech Group. The acquisition is earmarked for the group's Westinvest TargetSelect Hotels investment fund.
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PropertyEU Archive
Fund of funds fee structures lower than for direct funds: INREV
Overall fund of funds fee structures are simpler and lower than for direct funds, according to the inaugural Fund of Funds Fee Study published last week by INREV, the association of non-listed real estate investors.
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PropertyEU Archive
INREV sees increase fund support for reporting guidelines
No less than 98% of the 2009 annual reports surveyed by INREV in its third annual Review of Reporting Best Practice had adopted the majority of the INREV Reporting Guidelines. This marks a significant increase from 81% in 2008 and 72% in 2007.
