All Real Assets articles in Web Issue – Page 667
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PropertyEU Archive
Wolbern Invest buys TriCon office building in Frankfurt
Hamburg-based Wolbern Invest has announced the acquisition of the TriCon office building in Frankfurt Rhein-Main from local developer Hochtief. The companies agreed not to disclose the transaction price.
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PropertyEU Archive
UBS' Centro Leoni gets LEED Silver
UBS Real Estate's Centro Leoni office complex in Milan has been awarded a LEED Silver certificate in the category of new developments. The Munich-based real estate fund management arm of UBS said this is the first LEED certificate to be ever awarded to an office building in the country.
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PropertyEU Archive
VastNed clinches deal with Zara in Turkey
Listed retail specialist VastNed Retail has signed a 15-year lease with Spanish fashion giant Zara for its new property on 161 Istiklal Caddesi, the leading high street in Istanbul. Total annual rental income is put at EUR2.3 mln.
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PropertyEU Archive
PEPR rejects Prologis' EUR 1.2b bid as 'inadequate'
Prologis European Properties (PEPR) has rejected Prologis' offer of EUR 6.10 per share as 'inadequate'. 'Based on our strategy, business plans and the quality of our portfolio, we believe that the offer does not reflect the full value potential of PEPR,' Peter Cassells, chief executive officer of PEPR noted in ...
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PropertyEU Archive
KanAm extends redemption freeze for 12 months
German fund manager KanAm said on Tuesday that it has extended the redemption suspension for its Grundinvest open-ended property fund for a further 12 months.
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PropertyEU Archive
Centro Retail makes EUR 250m offer for Rinascente operator
Centrail Retail Corporation, Thailand's largest retail group, has made a EUR 250 mln offer for the operating company of Italian department store group Rinascente, PropertyEU has learned. The offer includes EUR 205 mln in cash and the assumption of EUR 45 mln in debt.
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PropertyEU Archive
Matterhorn invests £250m in UK data centres
Matterhorn Capital, the property investment vehicle run by Anthony Lyons and Simon Conway, is entering the data centre market with a £250 mln (EUR 278 mln) investment in two sites in south-east England. The acquisition is an attempt by Matterhorn Capital to tap into this growing niche market, which is ...
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PropertyEU Archive
Aareal raises EUR 269 mln in capital increase
Aareal Bank has raised gross proceeds of EUR 269.6 mln following a near fully-subscribed capital increase at an issue price of EUR 15.75. Following the capital increase, Aareal Holding holds a 28.9% stake in Aareal Bank's share capital, the Wiesbaden-bank said in a press statement.
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PropertyEU Archive
Quantum buys 4 Karstadt car parks
Quantum Immobilien KAG has announced the purchase of four Karstadt car parks from the Highstreet consortium for around EUR 40 mln. The purchase was made on behalf of the firm's Spezialfonds City Parking.
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PropertyEU Archive
Swisscanto buys industrial park for CHF 70m
Swisscanto, the Zurich-based joint venture of Cantonal Banks for investment and pension services, said it has acquired the Altenrhein industrial park near St. Gallen from TMW Pramerica Property Investment, the German arm of Pramerica Real Estate Investors, for around CHF 70 mln (EUR 55 mln).
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PropertyEU Archive
Deka buys Occidens building in Frankfurt for EUR 75m
Germany's Deka Immobilien said on Tuesday that it has purchased the Occidens office development project in the country's financial capital, Frankfurt, from Groß & Partner for a minimum price of EUR 75 mln. The asset is earmarked for the group's WestInvest ImmoValue open-ended fund for institutional investors.
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PropertyEU Archive
DIC Asset unveils terms of corporate bond issue
German listed real estate company DIC Asset has announced that its five-year unsubordinated corporate bond with a volume of up to EUR 100 mln will pay an interest rate of 5.875%. The subscription period runs from 5 to 11 May 2011, but may be ended prematurely in the event of ...
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PropertyEU Archive
Lloyds puts bad property assets on market - report
Lloyds Banking Group has put a first portfolio of distressed property assets collected from about 38 different receiverships on the market through Jones Lang LaSalle, the Financial Times has reported.
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PropertyEU Archive
C&W takes full ownership of facility management JV
Cushman & Wakefield (C&W) said on Tuesday that it has acquired full ownership of a joint venture, Corporate Occupier Solutions (COS), formed with EC Harris in 2006. The deal is in line with 'its strategy to expand and align its facilities management services globally'. The financial details were not disclosed.
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PropertyEU Archive
ING RED sells 12 projects to Volker Wessels
ING Real Estate Development (ING RED) is pulling out of its 3W project management unit with the sale of 12 development projects in the Dutch provinces of Limburg and Brabant to VolkerWessels. In a joint statement issued by ING RED, Volker Wessels and 3W, the companies said that the management ...
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PropertyEU Archive
Frozen SEB ImmoInvest targets further EUR 500m in sales
SEB Asset Management is preparing the sale of a further EUR 500 mln of property assets this year from its frozen SEB ImmoInvest open-ended fund.
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PropertyEU Archive
Eurohypo finances Almacantar's Centre Point buy
Eurohypo has provided a £50 mln financing to Almacantar to assist in the acquisition of Centre Point, WC1. The five-year facility was structured to support the purchase of the building whilst also allowing surplus monies to be employed for capital expenditure.
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PropertyEU Archive
JP Morgan AM recruits Joe Valente
Joe Valente has joined J.P. Morgan Asset Management's Global Real Assets business as head of Research and Strategy of Real Estate Europe.
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PropertyEU Archive
APG weighs its options on PEPR
Dutch pension fund Algemene Pensioen Groep (APG) said on Wednesday it is exploring all options with regard to its 12% stake in Euronext-listed closed-end fund, Prologis European Properties (PEPR).
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PropertyEU Archive
Lloyds picks Grainger for insolvent resi assets
Lloyds Banking Group has selected UK quoted residential property firm Grainger as the preferred supplier to its Residential Asset Management Platform (RAMP) and the manager of the new unit's insolvent residential assets.
