All Real Assets articles in Web Issue – Page 640
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PropertyEU Archive
HSBC REIM bags Paris building for EUR 34m
The Elysée Pierre SCPI investment vehicle, managed by HSBC Real Estate Investment Management, has acquired the 5th Avenue office scheme located in Courbevoie, in the northwestern suburbs of Paris for nearly EUR 34 mln. The vendor is French listed group Gecina.
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PropertyEU Archive
Helical Bar jv clinches EUR 64m deal in London
A joint venture between a subsidiary of Helical Bar and affiliates of The Baupost Group has exchanged binding contracts to acquire the freehold interest in land and buildings at Bartholomew Close, Little Britain and Montague Street, for a cash consideration of £55 mln (EUR 64 mln). The vendors were St ...
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PropertyEU Archive
Crown Estate acquires Portsmouth retail park for EUR 72m
UK property company Capital & Regional announced that the Junction Fund has exchanged contracts for the sale of Ocean Retail Park Portsmouth to The Crown Estate for £60.8 mln (EUR 72 mln). The sale price reflects a net initial yield of 5.8% and a premium to the end-December 2010 valuation.
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PropertyEU Archive
European hotels back in action: JLL Hotels
2010 proved to be a year of recovery in EMEA for both hotel operators and investors alike, with investment volumes across the region totalling EUR 7.7 bn, compared to EUR 3 bn in 2009, according to the Hotel Investment Highlights report by Jones Lang LaSalle Hotels.
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PropertyEU Archive
DIC plans more funds after fully placing maiden fund
Frankfurt-based real estate investor DIC Asset said it is planning further fund launches after fully placing its first EUR 120 mln special fund, DIC Office Balance I. Commitments in excess of this amount have already been attracted for the fund’s further development, DIC said, and the aim is to increase ...
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PropertyEU Archive
Westimmo finances 'Avatar' in Krakow
Westdeutsche ImmobilienBank (WestImmo) has provided Spanish private equity group Azora International with EUR 21.6 mln in investment financing for the A-Class office building Avatar in Krakow, Poland. The transaction was arranged, underwritten and completed in December 2010.
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PropertyEU Archive
Westfield founder Frank Lowy takes backseat role
Frank Lowy, founder and executive chairman of Australian shopping centre developer and owner Westfield Group, is to assume the role of non-executive chairman from 25 May, handing over the baton to his two sons Peter and Steven who will become joint CEOs.
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PropertyEU Archive
Nexity mulls partnership with Colliers-UFG
Nexity has announced that it is in talks with services company Colliers-UFG on a potential partnership in the French real estate sector. Colliers-UFG manages over 4 million m[sup]2[/sup] in France, rmaking it the eighth-largest player in real estate services sector for corporates and investors.
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PropertyEU Archive
KGAL starts placing French real estate fund
German closed-end fund manager KGAL said it has started marketing PropertyClass Frankreich 1, its first French real estate investment vehicle. The fund made its first acquisition in October 2010 with the purchase of an office building in Fontenay-sous-Bois, Île-de-France, about 5 km east of Paris. The High Quality Environmental (HQE) ...
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PropertyEU Archive
Fragile recovery in European residential market: RICS
Recovery is under way in the majority of European housing markets, but uncertainty remains in the region, with considerable performance variations, according to the latest RICS European Housing Review launched in Brussels.
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PropertyEU Archive
Grosvenor extends London office fund
Grosvenor Fund Management (GFM) has extended the life of the Grosvenor London Office Fund (GLOF) by five years to 2017, following a vote by investors.
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PropertyEU Archive
Metro owners in talks to sell up to EUR 1b of assets
Franz Haniel & Cie, the investment company that controls German retail group Metro with other shareholders, has confirmed that talks are ongoing regarding the sale of a portfolio of 45 Cash & Carry retail assets but declined to give any specifics on the potential buyer.
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PropertyEU Archive
Invesco raises EUR 85m in 1st close of new hotel fund
Invesco Real Estate has raised EUR 85 mln of equity from four institutional investors in the first close of its second pan-European hotel fund. IRE said the addition of 'conservative debt' provides EUR 170 mln of initial capital. Further closings are planned over the next 12 months.
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PropertyEU Archive
Unicredit's EUR 300m portfolio receives over 20 offers
Italian lender Unicredit is said to have received over 20 binding offers for a EUR 300 mln portfolio of seven office properties which was put on the market through C&W in September last year, well-informed market souces told PropertyEU.
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PropertyEU Archive
Unibail-Rodamco buys 7.25% stake in SFL
Franco-Dutch listed property group Unibail-Rodamco has announced the acquisition of a 7.25% stake in Société Foncière Lyonnaise (SFL) from German bank Eurohypo for a total amount of EUR 106.5 mln. The purchase price corresponds to EUR 31.59 per share. The acquisition has been made for investment purposes, Unibail-Rodamco said.
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PropertyEU Archive
Vastned acquires 33 stores in mall for EUR 40m
Pan-European retail property fund VastNed Retail has acquired 33 units in the Walburg shopping centre in Zwijndrecht near Rotterdam for EUR 40.5 mln, including purchase costs. The net initial yield is about 6%.
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PropertyEU Archive
PensionDanmark makes EUR 38m buy
PensionDanmark has announced the acquisition of a commercial property development at the Buddinge Station, in Buddinge, north of Kopenhagen from local developer Sophienberg Ejendomsudvikling for DKK 282 mln (EUR 38 mln).
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PropertyEU Archive
Allianz RE and AMB create EUR 470m jv in Eurozone
Allianz Real Estate has formed a EUR 470 mln joint venture with global industrial property specialist AMB Property Corporation. The joint venture takes the form of a Luxembourg FCP-FIS fund which will acquire, own and operate logistics real estate tied to global trade and located in major seaport, airport and ...
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PropertyEU Archive
EUR 8.8b available for UK resi development: CBRE
Over £7.5 bn (EUR 8.8 bn) is aimed at residential development and/or investment in the UK from a variety of domestic and international funds, CB Richard Ellis has revealed. Around 70% of this money is earmarked for inner London broadly split between prime (£2.5 bn) and fringe (£2.8 bn).
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PropertyEU Archive
Asian investment wave set to hit Europe
Asian investors ploughed more than EUR1 bn into the London market in January, according to research by PropertyEU Research. Indeed, Asian investors accounted for three of the top five transactions over the month.
