All Real Assets articles in Web Issue – Page 649
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PropertyEU Archive
Aberdeen AM presses ahead with 3rd Asian FoF
Despite the ongoing catastrophe in Japan, Aberdeen Asset Management is pressing ahead with its plans to launch a third Asian fund of funds this year, according to Alessandro Bronda, head of global property at Aberdeen Asset Management.
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PropertyEU Archive
Private equity duo to sell EUR 660m property firm
Swedish private equity firms Altor Equity Partners and Bure Equity have announced plans to start the sales process of their real estate company Norrvidden, which owns assets worth at SEK 6.4 bn (EUR 660 mln) in the country.
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PropertyEU Archive
AFI Development opens largest mall in Moscow
AFI Development has announced the opening of the Mall of Russia, its flagship retail project in Moscow. The scheme has more than 200 stores fully operating including Marks & Spencer, Eldorado, L'etoile, Douglas Rivoli, U.S. Polo, Esprit, Swarovski, Dream Store, Nokia, InCity, Fabi, Baldinini, Mango, and Zara.
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PropertyEU Archive
First Atlantic to close Rinascente deal by end-March
Italian fund manager First Atlantic Real Estate is expected to close the acquisition this month of the historic Rinascente building located in Milan's Piazza Duomo for some EUR 460 mln, representing a yield of 5%, well-informed market sources have told PropertyEU.
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PropertyEU Archive
Caja Madrid sells and leases back Spanish portfolio
Bankia, the Spanish savings banks conglomerate that was formed in December 2010, has completed the sale and leaseback of a portfolio of eight Caja Madrid office properties to a partnership of Drago Capital and Grupo Atitlan. The transaction price amounts to around EUR 22 mln.
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PropertyEU Archive
Delancey buys industrial estate in the UK
UK property investment advisor Delancey has acquired the freehold interest in the West Hallam Industrial Estate, Derbyshire, UK for nearly £19 mln (EUR 22 mln) deal from Douglas Bay Capital. The purchase price reflects a net initial yield of 8.6%.
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PropertyEU Archive
Commerzbank to sell Silberturm in Frankfurt - report
German financial group Commerzbank is planning to sell the flagship Dresdner Tower in Frankfurt which previously housed the head office of its Dresdner banking arm, the Financial Times Deutschland has reported. The property is said to be valued at around EUR 400 mln.
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PropertyEU Archive
Union suspends UniImmo Global due to Japan nuclear crisis
Hamburg-based Union Investment Real Estate has temporarily suspended redemption of units for its open-ended real estate fund UniImmo, citing the nuclear tragedy in Japan.
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PropertyEU Archive
C&W to lease Eurocentrum project in Warsaw
Global commercial real estate advisory firm Cushman & Wakefield (C&W) has been appointed to market the space of the Eurocentrum office development project, located on Jerozolimskie Avenue in Warsaw.
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PropertyEU Archive
Metrovacesa postpones debt payments
Spanish property group Metrovacesa has reached an agreement with 90% of its lenders to postpone debt repayments on its EUR 5.7 bn of debt.
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PropertyEU Archive
Ciloger buys into Parisian retail for EUR 29m
French investment manager Ciloger has invested nearly EUR 29 mln in the acquisition of two high-street retail assets in Paris from IVG Institutional Funds. The assets are located at 13/15 rue du Commerce in the 15th arrondissement of Paris.
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PropertyEU Archive
F&C REIT eyes EUR 500m German acquisition spree
European investment manager F&C REIT is planning to invest some EUR 500 mln in German core and core plus real estate on the back of strong client demand for this type of product, Zvi Noé, director of investments, told PropertyEU in an interview.
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PropertyEU Archive
Hines buys London's Stonecutter Court for £91m
US developer and investor Hines has acquired the Stonecutter Court office complex located on a full city block on Farringdon Street in the heart of London from Shalati Investments Limited, a partly-owned subsidiary of Delek Global Real Estate. The acquisition amounts to around £91 mln (EUR 104 mln) and is ...
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PropertyEU Archive
Wainbridge buys three UK office assets
Property investor, developer and asset manager Wainbridge has completed the acquisition of three office assets, located in Central London, Croydon and Bristol, for a total consideration of £39 mln (EUR 45 mln). The properties were acquired on behalf of its real estate fund, Wainbridge Global Opportunities London Limited (WGOL).
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PropertyEU Archive
Henderson to expand Italy's Barberino Designer Outlet
Henderson Global Investors (HGI) said on Monday that it has received the go-ahead from the municipality of Barberino del Mugello to start building works on the second phase of its Barberino Designed Outlet. Phase II will expand the retail space by 6,000 m[sup]2[/sup] to a total of 27,000 m[sup]2[/sup] and ...
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PropertyEU Archive
ING REF funds WP Carey's Dutch buy
ING Real Estate Finance (ING REF) has agreed to provide a EUR 70.5 mln funding to WP Carey's publicly-held, non-traded REIT affiliates CPA®:15 and CPA®:17 - Global. The debt facility will be used to finance WP Carey's EUR 155 mln acquisition of six distribution centres formerly owned by ...
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PropertyEU Archive
Limited fallout from Japan crisis on German funds
Union Investment's move to temporarily suspend redemption of units for its open-ended real estate fund UniImmo has not so far had any followers from other German real estate funds with assets in Japan. The Hamburg-based open-ended fund manager announced the move late last week, citing the nuclear crisis in Japan.
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PropertyEU Archive
IPD sets up cross-border property funds index
Investment Property Databank (IPD) has launched its first 'investable' pan-European property index to track the quarterly performance of 18 cross-border European property funds open to investors. The IPD Pan-European Property Fund Indices, published on Monday with a seven-year quarterly history, consists of a small cohort of funds with an aggregate ...
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PropertyEU Archive
CS Euroreal sells in Milan
Credit Suisse Asset Management has announced that its open-ended CS Euroreal fund has divested an office building located at Via Pergolesi 25 in central Milan, Northern Italy, to Italian REIT Beni Stabili. The property, which was worth EUR 22 mln according to the latest appraisal, was disposed for EUR 25 ...
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PropertyEU Archive
LGP to forward fund Westgate leisure development
Legal & General Property (LGP) has agreed to acquire the Westgate leisure development project in Aldershot, south-west of London, and to provide development funding of £51 mln (EUR 58 mln) to the scheme in partnership with Citygrove Securities and Rushmoor Borough Council.
