All Real Assets articles in Web Issue – Page 62
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PropertyEU Archive
Jelmoli may look for buyers
Swiss Jelmoli Holding may seek investors for part or all of the company's stake as the department-store owner is reorganizing its retail and property units, Bloomberg reported citing two unnamed sources. Jelmoli said in January it was considering to separate its retail and property assets, valued at some EUR 1.42 ...
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PropertyEU Archive
Slough Estates eyes Italian and Spanish expansion
Slough Estates has announced that Spain and Italy will be 'target countries' in 2007. The UK company is keen to boost its regional presence in these two markets after entering them in November 2006 through a sale-and-lease-back deal with Antalis. 'This year obviously Spain and Italy will be high on ...
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PropertyEU Archive
Pirelli RE eyes foreign expansion
Pirelli & Co Real Estate said its foreign assets will increase in 2007 from 14% to 25% of the total assets under management. The company will focus on central-eastern Europe next year, consolidating its presence in Germany and Poland, and widening its business in Romania, Bulgaria and Croatia, Chief Financial ...
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PropertyEU Archive
Syrian tycoon hints at REIT launch
Syrian-born property tycoon Simon Halabi is reportedly planning to float a REIT that could have up to £2.5bn of assets. Halabi has started negotiations with investment banks to sell a stake in his real estate holdings, the Financial Times reported. His Pratractor portfolio includes the UK headquarters of JP Morgan ...
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PropertyEU Archive
MIPIM showcases skyscraper projects
Five of the world's most 'grandiose' skyscraper projects are to be showcased at MIPIM in the French Riviera city of Cannes from 13 to 16 March. Although sometimes dismissed as outdated, skyscrapers are 'symbols of their builder's technological and economic power,' the organisers of the international property market said in ...
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PropertyEU Archive
Macquarie buys Milan offices for EUR 151m
Australia's Macquarie Office Trust has acquired the City Central office block in Milan for EUR 151.9 mln, marking its second deal in Europe. The seller was not disclosed. Ceo Adrian Taylor said the transaction was in line with the company's strategy of diversifying investments into European growth markets.
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PropertyEU Archive
Singapore's government ploughs EUR 623m in UK mall
GIC Real Estate, the Singaporean government's investment arm, has agreed to purchase a 40% of the MetroCentre mall located in Gateshead, north-east England, from Liberty International's unit Capital Shopping Centres (CSC). The transaction value comes to £426 mln (EUR 623 mln), valuing MetroCentre at some £1.065 bn. Under the deal, ...
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PropertyEU Archive
Martinsa takes over 86% of Fadesa
Martinsa of Spain has received the green light to take over 86.48% of rival Fadesa Inmobiliaria, Martinsa said in a statement to the Spanish stock market regulator CNMV. The merger of the two real estate groups is scheduled for completion by end-June, pending approval from shareholders representing 54% of the ...
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PropertyEU Archive
ECE, Advance Properties create Sofia's new urban quarter
Bulgaria's Advance Properties and Germany's ECE Projektmanagement will develop Europe Park Sofia, a new urban quarter in the Bulgarian capital Sofia. The project will be built on a former factory site in the heart of the city and will include shopping areas, offices, apartments, hotels, a cinema and other entertainment ...
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PropertyEU Archive
Libeskind rejoices in architecture 'renaissance'
Architecture is undergoing a huge renaissance as more attention is paid to the environment, substantiality and the 'democratisation of spaces,' internationally renowned architect Daniel Libeskind told an audience at the Mipim property fair in Cannes on Tuesday.
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PropertyEU Archive
KanAm disposes of prime Paris asset
Germany’s KanAm grundinvest Fonds has sold its Le Printemps building in Paris for EUR 184.6 mln. The purchaser was not disclosed. The property is part of a three-building department store complex and comprises nine storeys with three underground levels. Substantially modernized in 1998 and 1999, the building originally dates back ...
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PropertyEU Archive
Welcome Break business raises interest in UK
British Land, Hammerson and Land Securities are bidding for the Welcome Break rest-stop business that is being sold by businessman Robert Tchenguiz, newspaper The Financial Times has reported. Other bidders for the eight UK service stations include Capital & Regional and Warner Estate. The first bids were expected for March ...
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PropertyEU Archive
Eastwood buys three outlets in Britain
Family-owned Eastwood Properties has purchased three retail outlets in the UK for EUR 147 mln. The Belfast-based property group has bought two Debenhams stores in Leeds and Norwich, central England, as well as an outlet in the Welsh capital of Cardiff. The transaction value reflects an initial yield ranging from ...
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PropertyEU Archive
CSAM hints at European expansion
Credit Suisse Asset Management (CSAM) is planning to develop more property in Europe and expand its real estate business beyond its core Swiss and German markets. 'We are spreading out with products that give our clients global exposure and by getting more involved in development in the rest of ...
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PropertyEU Archive
Immoeast in major Czech deal
Immoeast has completed its largest transaction in the Czech Republic to date through the purchase of a portfolio comprising five office and retail properties for EUR 210 mln. The properties are located in the capital city of Prague and Brno, the country's second-largest city.
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PropertyEU Archive
Norwegian pension fund moves into property
Norwegian finance minister Kristin Halvorsen has called on companies to assist the government’s EUR 224.4 bn pension fund in its first exposure to real estate. According to IPE Real Estate, the government has launched a tender for companies to report on tax issues involving investments in property and infrastructure in ...
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PropertyEU Archive
New INREV standard for private property funds
INREV has launched a new reporting standard for Europe’s non-listed institutional real estate funds, the industry association announced Tuesday at the Mipim property fair in Cannes. INREV also said it is developing a model performance and valuation benchmark, possibly paving the way for a unified investment asset class in the ...
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PropertyEU Archive
Klovern sells off Swedish properties
Sweden's Klovern has sold all its Kalmar and Eskilstuna properties to real estate company Dagon for EUR 76 mln. Klovern told PropertyEU that the sale consists of 11 commercial properties in Kalmar, south-eastern Sweden, with an average occupancy rate of 88%. It also includes four assets in Eskilstuna near Stockholm. ...
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PropertyEU Archive
PropertyEuro takes over news site PropertyDay
PropertyEuro, the research and publishing firm that publishes the magazines PropertyNL and PropertyEU, announced Tuesday that it has acquired London-based property news site PropertyDay.com. The terms of the transaction were not disclosed.
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PropertyEU Archive
ING buys German mall for EUR 100m
ING Real Estate Investment Management has acquired the Stadtgalerie Heilbronn mall development from ECE Projektmanagement for about EUR 100 mln. ECE will retain the management of the shopping centre, which is scheduled to open in the spring of 2008.
