All Real Assets articles in Web Issue – Page 654
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PropertyEU Archive
Karlin Group sells Keystone to GLL Real Estate
Karlín Group has sold the Keystone office building in Prague to the German real estate funds GLL Real Estate Partners. Financial details were not disclosed.
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PropertyEU Archive
Multi opens Forum Marmara in Istanbul
Dutch developer Multi Corporation has opened Marmara Forum in Istanbul. The project, a 50:50 joint venture with Area Property Partners, is Multi's second mall in Istanbul and its first mixed-use project in Turkey.
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PropertyEU Archive
Market sentiment softens in Germany: King Sturge
The King Sturge Real Estate Economy Index for the German market dropped by 2.9% in March, the first time this year that sentiment has softened. But at 140.4, the index remains above its 2010 scores, King Sturge said. The main index was depressed by negative sentiment in the Investment Climate ...
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PropertyEU Archive
Sonae Sierra moves into Morocco
Sonae Sierra, the international shopping centre specialist, has signed a deal with Moroccan companies Marjane (ONA Group) and Foncière Chellah (CDG Group - Caisse de Dépôt et de Gestion), for the provision of development services for a shopping centre complex in Casablanca.
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PropertyEU Archive
Deutsche Hypo places EUR 1b Pfandbrief
German lender Deutsche Hypothekenbank has successfully placed a EUR 1 bn public sector Pfandbrief.
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PropertyEU Archive
Cerberus bags EUR 1b portfolio from Metro shareholders
US private investor Cerberus Capital Management (Cerberus) has completed the acquisition of a EUR 1 bn real estate portfolio consisting of 45 Metro Cash & Carry properties in Germany from the three major shareholders of Metro, Franz Haniel & Cie, Otto Beisheim and the Schmidt-Ruthenbeck family. The deal, which was ...
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PropertyEU Archive
GSW sets IPO date for 15 April, targets EUR 517m
Berlin-based residential real estate company GSW has set the date for its IPO as 15 April 2011, almost a year after it postponed its flotation citing 'significantly increased volatility and uncertainty in global equity markets'.
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PropertyEU Archive
Swiss property market returns improve over 2010
Switzerland's property market has continued its unbroken streak of nine-consecutive years of capital appreciation, with 1.4% in 2010, according to the IPD Switzerland Annual Property Index.
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PropertyEU Archive
Gecimed buys EUR 230m nursing home portfolio
Gecimed, the healthcare unit of Gecina, has signed a preliminary agreement with Foncière Sagesse Retraite (FSR) to buy a portfolio consisting of 30 nursing homes for a total of EUR 230 mln, reflecting an initial yield of 6.36%.
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PropertyEU Archive
AP4 sells 50% of Dombron to AMF
AP4, the Fourth Swedish National Pension Fund, has agreed to sell half its shares in property manager Dombron Stakeholders to pension provider AMF for SEK 400 mln (EUR 45 mln). Dombron is one of the largest owners and managers of residential properties in Sweden, with a portfolio of 8,000 residential ...
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PropertyEU Archive
Orion snaps up Berlin's Allee mall from DWS
European real estate investor Orion Capital Managers has acquired the Allee shopping centre in Berlin-Hohenschönhausen from a closed-end fund managed by DWS, the mutual fund company of Deutsche Bank's Asset Management Business Division. The transaction price was not revealed, but is believed to be in the region of EUR 50 ...
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PropertyEU Archive
AXA RE buys office building in Rome
AXA Real Estate Investment Managers SGR, part of the AXA Real Estate group, has bought an office building in Rome from iii-European Property Fund, a fund managed by Internationales Immobilien Institut, for an undisclosed amount. The purchase was made on behalf of AXA's Core Italian Properties fund (CIPF).
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PropertyEU Archive
BNP sells Bologna hypermarket, launches new fund
The Italian fund management arm of BNP Paribas REIM has announced the sale of a hypermarket in the Via Larga shopping centre in Bologna, Northern Italy, to local hypermarket group Gruppo Nordiconad for over EUR 31 mln. The property was owned by the BNL Portfolio Immobiliare fund, which is currently ...
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PropertyEU Archive
Rockspring buys in Germany and Spain
Rockspring Property Investment Managers has made two retail property acquisitions in Spain and Germany for a total of EUR 115 mln. In Germany, Rockspring has purchased Das Es!, a dominant downtown shopping centre in Esslingen to the southeast of Stuttgart, from SEB Asset Management for EUR 69 mln, reflecting a ...
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PropertyEU Archive
Carrefour, Realia partner to complete Santiago mall
Spanish listed property firm Realia and Carrefour Property have joined forces to complete the development pf and operate the As Cancelas shopping centre located in Santiago de Compostela, Spain. The total investment is expected to amount to EUR 90 mln.
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PropertyEU Archive
Pramerica sells in London and Hannover
TMW Pramerica Property Investment, the German arm of Pramerica Real Estate Investors, has divested an office and commercial building in the City of London to an unnamed buyer. The sales price of £65 mln (EUR 74 mln) is 25% above the price Pramerica paid for the building back in 2009.
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PropertyEU Archive
GPR European property index fell 1% in March
European stock exchange-listed property funds were down an average 1% in March but up 3% in the first quarter as a whole, according to new figures from Global Property Research.
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PropertyEU Archive
Institutional investors commit EUR 100m to PURetail fund
Scottish Widows Investment Partnership and Cushman & Wakefield Investors have announced the first close of their Pan-European Urban Retail fund (PURetail) with EUR 100 mln in equity committed by three European institutional investors.
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PropertyEU Archive
SEB AM sells ImmoInvest properties for EUR 103m
SEB Asset Management has confirmed the sale of two portfolio properties in Germany belonging to its SEB ImmoInvest open-ended real estate fund. The two properties - City Carrée retail park in Salzgitter and the Das ES! shopping centre in Esslingen - were sold for a total of EUR 103 mln.
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PropertyEU Archive
GLL obtains EUR 308m facility for CEE portfolio
A club of banks arranged by pbb Deutsche Pfandbriefbank has jointly provided a EUR 308 mln facility to Accession Fund SICAV to finance an office and logistics portfolio across Central and Eastern Europe. German fund manager GLL Real Estate Partners acted as adviser to Accession Fund on the transaction which ...
