All Real Assets articles in Web Issue – Page 604
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PropertyEU Archive
Drago teams up with Cerberus to buy 97 Caja Madrid branches
Madrid-based investment firm Drago Capital and an affiliate of Cerberus Capital Management have acquired a real estate portfolio consisting of 97 bank branches from Caja Madrid. The sale-and-leaseback transaction amounts to EUR 96 mln, representing an EUR 80 mln capital gain for the Spanish lender.
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PropertyEU Archive
LGP fund acquires Tesco's supermarket
Legal & General Property (LGP) has acquired a Tesco supermarket in Newton-le-Willows, Merseyside on behalf of its Limited Price Inflatio Income Property fund. The deal marks the fund’s third acquisition, following the purchase of two Welsh government-let assets, and brings its total investment to over £40 mln, having already ...
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PropertyEU Archive
Klepierre, Carrefour partner in new retail projects across France
French retail specialist Klépierre Ségécé and Carrefour Property are joining forces to develop several retail projects across France.
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PropertyEU Archive
APG and CPPIB eye further joint ventures
APG of the Netherlands and Canada Pension Plan Investment Board (CPPIB) may team up again on further European real estate transactions following their EUR 1 bn joint purchase of 50% of the retail component of Westfield Stratford City. The massive mixed-use scheme forms the gateway to the 2012 London Olympic ...
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PropertyEU Archive
Property values rise in core Western European markets: CBRE
European property values continued to rally during the third quarter of 2010, particularly in core Western Europe, according to the latest European Evaluation Monitor by CB Richard Ellis (CBRE).
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PropertyEU Archive
Owners test water for Central London hotel sale
The owners of The Hoxton Hotel, an award winning hotel based in Central London, are exploring the prospect of a sale as per the terms of their original investment agreement. Knight Frank has been appointed to advise the process and expressions of interest are already being received.
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PropertyEU Archive
ICSC launches European Directive support for retail real estate
National governments must introduce ambitious energy efficiency targets following a major review of the 2002 Energy Performance of Building Directive (EPBD) earlier this year by the European Union. The International Council of Shopping Centers (ICSC) has launched a package of support to help retail asset owners and occupiers influence implementation ...
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PropertyEU Archive
Ott takes over leadership of German subsidiary
Jean-Francois Ott, founding partner and CEO of Orco Property Group, has been appointed CEO of the group's German listed subsidiary, Orco Germany. The board of directors of Orco Germany announced the appointment on Tuesday. In addition, Nicolas Tommasini, deputy CEO of Orco Property Group, has been appointed deputy CEO of ...
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PropertyEU Archive
CSC poised for EUR 1.9 bn UK mall acquisition
UK listed Capital Shopping Centres Group (CSC) has confirmed that it is in advanced talks to acquire the Trafford Centre in Manchester in a £1.6 bn (EUR 1.9 bn) transaction. The asset is owned by the Peel Group, a UK-based investment company that has about £6 bn of assets under ...
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PropertyEU Archive
Meinl Bank sues Atrium for EUR 1.2 bn
The legal conflict between Atrium Real Estate and the company's former owner Meinl Bank accelerated further this week after the Austrian private bank announced it would sue Atrium's new board and management for damages of at least EUR 1.2bn.
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PropertyEU Archive
Sufficient new capital to bridge EUR 180bn funding gap: DTZ
Europe has the biggest exposure to property debt worldwide, accounting for 51% or $126 bn (EUR 92 bn) of the total $245 bn (EUR 179 bn) debt funding gap over the next three years, according to new research from property adviser DTZ. Second in line is Asia Pacific with ...
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PropertyEU Archive
Züblin, Viveris team up to launch Grenelle 2 fund
Züblin Immobilière France is partnering with fund manager Viveris Reim to launch an OPCI investment vehicle which will focus on the upgrade of existing buildings to comply with the Grenelle 2 energy-efficiency requirements.
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PropertyEU Archive
ICSC Europe announces finalists for 2011 European Shopping Centre Awards
The International Council of Shopping Centers (ICSC) has announced the 2011 European Shopping Centre Awards finalists. In all, 18 centres made it to the short list of finalists, representing eight countries across Europe.
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PropertyEU Archive
EU regulation could cause EUR 65bn of collateral damage: EPRA
Proposed EU rules on derivatives could take an estimated EUR 64.9 bn of working capital away from Europe's real economy as property businesses risk being required to collateralise their interest rate hedges with cash. This is the main conclusion of a Chatham Financial study commissioned by the European property sector ...
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PropertyEU Archive
Kungsleden divests six properties for EUR 87m
Swedish listed property company Kungsleden is selling six commercial properties for SEK 809 mln (EUR 86.6 mln) to ABB Fastighet. The sales price exceeds book value by SEK 23 mln. The properties are located in Ludvika, north west of Stockholm, and are largely let to ABB. The gross leasable area ...
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PropertyEU Archive
Advent International acquires Tinsa
Global private equity firm Advent International has announced the acquisition of Tinsa, a Spanish property valuation firm, from its founding partners. Advent International has taken a 94.5% majority stake in the business, with the remaining capital held mainly by the management team. The transaction is valued at EUR 100 mln ...
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PropertyEU Archive
EPF, EPRA sound alarm over EU derivatives proposals
Proposed EU rules on derivatives could lead to serious property and debt market instability, two European property organisations have warned. The European Public Real Estate Association (EPRA) said the measures could take an estimated EUR 64.9 bn of working capital away from Europe's real economy as property companies are at ...
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PropertyEU Archive
Norwegian Property appoints new director of development
Oslo-based Norwegian Property has appointed Fredrik Baumann (48) as its new director of development with effect from January 2011. Baumann is currently CEO of construction and engineering firm OKK Entrepenør AS and was previously the project director at Avantor AS, where he led the BI Nydalen Campus, receiving the City ...
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PropertyEU Archive
Orco Germany to sell stake in Berlin project
The German arm of Orco Property Group and local developer High Gain House Investments (HGHI) have confirmed signing a preliminary agreement aimed at co-developing the plot of Leipziger Platz, in the heart of Berlin, into a mixed-use project made up of a shopping centre, offices and residential.
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PropertyEU Archive
Online retailing enters second growth phase: CBRE
Retail rental rates have stabilised across Europe, but could be pushed lower in some locations as online retailing enters a second growth phase. That is one of the findings of a recent report by CB Richard Ellis entitled 'How active are retailers in EMEA?'
