All Real Assets articles in Web Issue – Page 666
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PropertyEU Archive
Lenders terminate Valad's management contract with Kefren
Valad Property Group said it has received notice of the termination of its $726 mln (EUR 490 mln) investment management mandate with Kefren of Sweden after the company's senior banks decided to call up their loans and apply for Kefren's bankruptcy. Kefren had been in talks with its creditor banks ...
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PropertyEU Archive
Irish IPD avoid negative ground for 1st time in a year
Irish commercial property total return has avoided negative territory for the first time since Q1 2010, posting 0.0% in the first quarter of 2011, according to the SCSI/IPD Ireland Quarterly Property Index.
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PropertyEU Archive
Sponda scoops Helsinki's Fennia Quarter for EUR 122m
Finnish listed property company Sponda said it has signed an agreement with mutual life assurance group Suomi to acquire the Fennia Quarter located in Helsinki's Central Business District. The transaction amounts to a total of EUR 122 mln, including EUR 100 mln in cash and the remaining EUR 22 mln ...
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PropertyEU Archive
Belgian real estate delivers stable returns for 2010
Belgian commercial property delivered its highest return since 2008 last year, at 4.6%, according to the IPD Belgium Annual Property Index. The improving returns were delivered despite a third consecutive year of capital decline, at -1.2%, though this represents a considerable slowing of capital depreciation, by 140 basis points, from ...
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PropertyEU Archive
Foreign buyers take 35% of EMEA investment market
International investors across EMEA represented nearly 35% of transactional activity in the first quarter of 2011, up from 31% in the final quarter of last year, according to new data released by C&W.
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PropertyEU Archive
Segro to build new facility for Alcatel Lucent in Italy
Europe's industrial REIT Segro has agreed to develop a new 32,300 m[sup]2[/sup] campus facility for Alcatel Lucent at its Energy Park in Vimercate, Northern Italy. Alcatel Lucent has entered into a 10-year lease with Segro, generating annual rental income of £4.2 mln (EUR 4.7 mln).
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PropertyEU Archive
Mayfield makes new appointment to Dutch team
UK asset and property management firm Mayfield said on Friday that it is strengthening its presence in the Netherlands with the addition of Jeanne van Nunen to its team in Eindhoven, led by managing director Michiel Assendelft.
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PropertyEU Archive
Valad board backs Blackstone's takeover bid
US private equity firm Blackstone has agreed to acquire Australia's Valad Property Group in a deal which values the company at A$208 mln (EUR 152 mln). In a statement on Friday, Valad said it has been offered A$1.80 in cash per security, representing a premium of 56% over the closing ...
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PropertyEU Archive
IVG snaps up BTC Office Center in Warsaw
German investor IVG Institutional Funds said on Friday that it has acquired the BTC Office Center in Warsaw from local firm BTC Invest on behalf of one of its special funds.
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PropertyEU Archive
Catalyst Capital poised to clinch deal in Clichy
Catalyst Capital is believed to be close to clinching a deal for an office complex in Clichy near Paris. The complex, Front de Parc, is part of a CMBS loan that is due to mature in November 2011 and is currently being unwound.
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PropertyEU Archive
Sweden posts five consecutive quarters of growth
A positive economic outlook and continued market growth helped fuel a rise in transactional activity in the first quarter of 2011, according to international real estate advisor Savills.
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PropertyEU Archive
Skanska to construct office in Oslo
Swedish construction and property group Skanska has secured the mandate to build a new head office in Oslo for the Norwegian insurance company Gjensidiges Forsikring. The contract, awarded by property company Rom Eiendom, amounts to NOK 390 mln (EUR 50 mln).
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PropertyEU Archive
Prologis makes little progress on PEPR tender offer
Prologis' stake in the Euronext-listed closed-ended investment fund Prologis European Properties (PEPR) has changed only marginally since the company launched a mandatory cash tender offer of EUR 6.10 per unit on April 22.
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PropertyEU Archive
Citycon closes EUR 105m purchase of Tallinn mall
Helsinki-listed retail specialist Citycon has completed the acquisition of the Kristiine Shopping Centre in Tallinn, Estonia from local developer Pro Kapital for some EUR 105 mln. The deal, which was first announced in mid-March, involves Tallinn's second-largest shopping centre after Rocca al Mare, which is also owned by Citycon.
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PropertyEU Archive
Newsec picked to manage EUR 145m Baltic portfolio
Northern European financial and real estate consultancy firm Newsec said on Monday that it has been appointed to manage a EUR 145 mln real estate portfolio throughout the Nordic and the Baltic regions.
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PropertyEU Archive
Real IS snaps up Hamburger Meile mall for EUR 250m
German fund manager Real I.S. has announced the purchase of the Hamburger Meile shopping centre on the Hamburger Straße from a partnership of retail specialist ECE Projektmanagement and Hamburg-based developer Bruhn for around EUR 250 mln. The property will be transferred to a new closed-end fund of Real I.S. with ...
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PropertyEU Archive
Aedes fund sells Milan office for EUR 28m
The Investietico listed real estate fund, managed by Aedes BPM Real Estate SGR, has announced the sale of an office building located at San Donato Milanese, near Milan, to natural gas transport group Snam Rete Gas. The transaction amounts to nearly EUR 28 mln, generating around EUR 4 mln in ...
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PropertyEU Archive
European property stocks return 3.6% in April
European listed real estate, as represented in the GPR 250 Europe Index, ended April 2.6% higher, with the strong performance being driven by UK stocks. On a country by country basis, the UK topped the ranking with an increase of 5.9% in April, while Norway came second returning 5.5% in ...
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PropertyEU Archive
STE clinches EUR 45m refinancing
Société de la Tour Eiffel (STE) has completed the refinancing of its La Poste portfolio comprising 12 properties valued at EUR 85 mln. In a statement on Monday, the French SIIC said that it was granted a new EUR 45 mln seven-year credit facility by Société Générale (CIG) and BECM ...
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PropertyEU Archive
Estavis buys Europe's largest brewery in Berlin
German investor Estavis said on Monday that it has acquired the listed buildings of what was once the largest brewery in Europe, located in Berlin's Friedrichshain district, from an unnamed seller. The company plans to redevelop and extend the landmark complex which was built in the early 1880s. The investment ...
