All Real Assets articles in Web Issue – Page 632
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PropertyEU Archive
Patrizia acquires plot in Düsseldorf's Oberkassel district
The development arm of Frankfurt-listed Patrizia Immobilien has purchased two plots totalling 7,500 m[sup]2[/sup] at the Belsenpark development project in the Oberkassel district of Dusseldorf. The vendor is Vivico Real Estate, a subsidiary of Austrian property company CA Immo. Both sides agreed not to disclose the purchase price.
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PropertyEU Archive
Anixton instructed to sell IVG's Tervueren Plaza
German fund management group IVG has mandated real estate advisory firm Anixton to dispose of the Tervueren Plaza office scheme in Brussels. The property is located on the prestigious Avenue de Tervueren facing the Palais Stoclet in Brussels and comprises 10,000 m[sup]2[/sup] of office space.
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PropertyEU Archive
ULI Europe appoints Joe Montgomery as new CEO
The Urban Land Institute (ULI) has appointed Joe Montgomery as its new CEO for ULI Europe. Montgomery is currently director general of the Thames Gateway regeneration scheme in London. He will take up his new position at ULI Europe at the end of March.
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PropertyEU Archive
MPC Capital bags Philip Morris HQ project in Munich
German developer and asset manager Investa Group has sold the iCU - Intelligence Cube office development project located in Gräfelfing, near Munich, to MPC Capital. The companies agreed not to disclose the transaction price.
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PropertyEU Archive
Tristan Capital starts capital raising for third fund
Tristan Capital Partners has started capital raising for its third pan-European fund, with the first close expected in April. The London-based fund manager is aiming to raise a total of EUR 500 mln for the fund which will focus on core plus investments across all sectors in the UK and ...
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PropertyEU Archive
Istanbul rises in ULI/PwC city ranking
Istanbul has ousted London as the top spot for new acquisitions in the ULI/PwC Emerging Trends in Real Estate 2011 report, moving up from 5th place a year ago. It also ranks number one again for development and has moved up from 7th place to number two behind Munich for ...
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PropertyEU Archive
C&W to manage tender for operator of new Sochi resort
Top Project, the investor and developer of a new resort in Sochi, has mandated Cushman & Wakefield's Hospitality team to conduct an international tender to secure an operator for their 2,300-room resort in a prime location within the Imeritinsky Lowland in the Winter Olympic city of Sochi, on the Black ...
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PropertyEU Archive
Vinci sells Nantes retail project to Proudreed
French development group Vinci Immobilier has sold the retail element of the Carré Feydeau development project in Nantes, France to private investor Proudreed and an unnamed Italian partner for an undisclosed amount.
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PropertyEU Archive
Duet Private to launch EUR 118m listed mezzanine debt fund
Duet Private Equity has announced plans to launch a quoted mezzanine debt fund later this year to help fill a widening European commercial real estate financing gap. The Guernsey-incorporated closed-end fund, Duet Real Estate Finance, will be the first of its type to be traded on London's main market and ...
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PropertyEU Archive
AXA RE raises another EUR 147.5m for development venture
AXA Real Estate Investment Managers has raised an additional EUR 147.5 mln of equity for the second close of its pan-European development venture, Development Venture III.
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PropertyEU Archive
UK property owners in breach on EUR 230b of loans - report
Commercial property owners and developers in Britain are in breach of covenants on four out of every five loans, with £194 bn (EUR 230 bn) at risk, the Australian reported, quoting an unpublished report from the Bank of England. Lenders with £243 bn outstanding to commercial property companies are still ...
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PropertyEU Archive
Precise Hotels acquires 5-star El Rompido in Spain
Property adviser Christie + Co, acting on behalf of Spanish hotel chain Set Hotels, has sold the freehold of the five-star hotel El Rompido Golf on the west coast of Huelva, Spain, to Precise Hotels Collection for an undisclosed sum.
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PropertyEU Archive
Klepierre acquires Romagna retail park for EUR 69m
Listed French property group Klepierre has acquired the Romagna Retail Park in Italy for EUR 69 mln. The asset was sold by Pradera Europe on behalf of its PERF Fund. Jones Lang LaSalle acted for Pradera.
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PropertyEU Archive
Union snaps up Zebra Tower in Warsaw for EUR 76m
Union Investment has signed an agreement to buy the Zebra Tower office and retail building in Warsaw for around EUR 76 mln. The purchase - Union's third in Warsaw in less than 12 months - was carried out on behalf of the group's Immo-Invest: Europa fund.
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PropertyEU Archive
Half of corporates willing to pay more for 'green' - CoreNet
Half of corporate real estate executives are willing to pay extra for space in green buildings, according to the fourth annual Sustainability Survey conducted by CoreNet Global and Jones Lang LaSalle.
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PropertyEU Archive
La Salle IM opens office in Dubai
LaSalle Investment Management (LaSalle IM) has opened a representative office in Dubai in support of its commitment to the company's Middle Eastern clients.
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PropertyEU Archive
Immofinanz sells Hamburg high-street property
Austria's Immofinanz Group has announced the sale of its A1 high-street retail property in Hamburg, Germany to Aachener Grundvermögen Kapitalanlagegesellschaft. Although the companies agreed not to disclose the transaction value, Immofinanz said the price substantially exceeded the property's carrying value.
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PropertyEU Archive
Composition Capital Partners joins ANREV as 100th member
Amsterdam-based Composition Capital Partners has joined ANREV, the Asian Association for Investors in Non-listed Real Estate Vehicles, as its 100th member. The addition of the boutique fund of funds manager jmarks a milestone in the Association’s development, the Hong Kong-based association said in a press statement. In the past year, ...
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PropertyEU Archive
Unibail-Rodamco to sell up to EUR 3b of non-core assets by 2013
Unibail-Rodamco plans to sell EUR 2.5 bn to EUR 3 bn of non-core retail and office assets between now and 2013. European's largest listed real estate company divested more than EUR 1.5 bn of assets at an average yield of 5.5% during 2010.
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PropertyEU Archive
Cap & Reg buys Waterside mall at 7.68% yield
Capital & Regional has unconditionally exchanged contracts to purchase the Waterside Shopping Centre in the cathedral city of Lincoln for £24.8 mln (EUR 29 mln), reflecting 7.68% net initial yield. It was the first property acquisition by Capital & Regional since its successful capital raising in 2009.
