All Real Assets articles in Web Issue – Page 67
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PropertyEU Archive
Multi opens shopping centre in Wiesbaden
The German arm of Dutch-based Multi Development has opened a new shopping centre, Lilien-Carre, in Wiesbaden, the capital of the German state of Hesse. One third of the 26,000 m[sup]2[/sup] of available space has been let to retailers who did not have a previous presence in the city. The Lilien-Carre ...
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PropertyEU Archive
Hochtief eyes Eastern Europe expansion
Hochtief, the German construction and development company, is planning to expand in Central and Eastern Europe, according to the company’s incoming new ceo Herbert Luetkestratkoetter. 'The potential is so big in Russia that we are considering a strategic partnership onsite', he said at the company's annual results presentation on Thursday.
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PropertyEU Archive
Meinl expands further in Turkey
Austrian builder Meinl has won a public tender for the development of a 50,000 m[sup]2[/sup] shopping centre and a five-star hotel with 300 rooms in the northern Turkish city of Samsun. The investment value for the mall comes to about EUR 90 mln, with an expected yield of 11.5%. The ...
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PropertyEU Archive
Tishman Speyer snapped up Telecom HQ
Global property owner Tishman Speyer has won a public tender for the Telecom head office located in Milan for EUR 82 mln. Tishman Speyer competed in the tender with other prominent groups such as Beni Stabili, Pirelli RE, the Carlyle Group, Generali Property Investments and Gruppo Ligresti.
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PropertyEU Archive
ING purchases Paris office
ING Real Estate Investment has signed an agreement with the privately-owned real estate company Hines for the purchase of an office development located at 66-70 Avenue Charles de Gaulle/4 rue Louis-Philippe in Paris. The building will provide some 4,500 m[sup]2[/sup] of office space on six floors and two basement levels ...
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PropertyEU Archive
La Salle snaps up 141 French Speedy centres
LaSalle Investment Management has acquired a portfolio of 141 Speedy garage service centres for a total amount of EUR 61.6 mln. The portfolio, which is located across several French town centres, has been purchased through a sale-and-lease-back transaction on behalf of the French fund LaSalle II.
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PropertyEU Archive
Balfour Beatty wins Liverpool's EUR 150m project
British construction company Balfour Beatty has been awarded a EUR 150 mln public tender by privately-owned real estate company Grosvenor for the construction of the Paradise Project, a new multi-use complex that will rise in Liverpool's city centre. The development is a significant part of Grosvenor's 42-acre urban redevelopment programme ...
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PropertyEU Archive
Blackstone in $4bn public offering
Blackstone, the New-York based private equity firm, began the formal filing process last week to take around 10% of the company public in a $4 bn stockmarket offering. Blackstone is one of the world's leading firms engaged in real estate private equity investing. Since it was formed in 1981, Blackstone ...
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PropertyEU Archive
IPBM buys French office for EUR 52m
Listed property investment company IPBM, a subsidiary of GE Real Estate, has acquired 10,645 m[sup]2[/sup] of offices from Westbrook Partners and STAM in Bagneux, in the Ile-de-France region near Paris. The deal is valued at EUR 52 mln, excluding taxes. The building, called Latitude 20, is completely let for a ...
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PropertyEU Archive
Aareal Bank sells loans portfolio to Merrill Lynch
Aareal Bank has sold another portfolio of sub- and non-performing loans (SPLs/NPLs) to Merrill Lynch's Global Principal Investments for an undisclosed sum. Under the deal, Merrill Lynch has acquired loans built up by approximately 250 residential and commercial properties.
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PropertyEU Archive
German Bundestag approves G-REIT
Germany's lower chamber, the Bundestag, approved the introduction of the German real estate investment trust (G-REIT) on Friday. Now the final hurdle for the G-REIT will be in the upper house, the Bundesrat, on March 30. At this stage, however, no further changes are expected to the legislation, which will ...
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PropertyEU Archive
Arbat Prestige eyes Russian and Ukrainian expansion
Russian businessman Vladimir Nekrasov has bought back 40% of his cosmetic retail chain Arbat Prestige from investment company Troika Dialog for $400 mln. Nekrasov said he is planning to open 300 new stores of the chain in 2007 in Russia, which will add to the existing 64 ones at present. ...
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PropertyEU Archive
Starbucks plans major expansion in Europe and Asia
Starbucks is planning to open 10,000 new stores in the coming four years, including up to 2,400 new units in 2007. The figure represents an increase of 18% on Starbucks' current stock, and passes the record number of 2,199 new stores opened in 2006. The Seattle-based coffee retailer said that ...
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PropertyEU Archive
Direzionale Pontina to build new skyscraper near Rome
The Italian city of Latina is set to become the home of a new 24-storey tower building, Italian newspaper Il Tempo has reported. This is the third skyscraper for which construction permits have been sought in the last few months by Italian builder Direzionale Pontina, led by Roberto Bianconi and ...
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PropertyEU Archive
Pension fund casts doubt on Sainsbury buy-out
Plans by private equity groups to buy Sainsbury to profit from its freehold property worth an estimated £7.5 bn (EUR 11bn) have been overshadowed by a warning from the UK retailer's pension fund that it could face a £3 bn shortfall if the takeover goes ahead.
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PropertyEU Archive
ING RE to compensate Rodamco for 'Golden Terraces' delay
ING Real Estate is to pay compensation to Rodamco Europe as a temporary solution to appease its fellow Dutch company in relation to the ongoing saga surrounding the Zlote Tarasy (Golden Terraces) shopping and retail complex in Warsaw.
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PropertyEU Archive
Croatia welcomes foreign investments
The Croatian government is drawing up a number of measures in order to make investment opportunities in the country more appealing to foreign investors. The Croatian Prime minister Ivo Sanader said at the opening of the European Business Summit in Brussels that his government was working hard to create a ...
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PropertyEU Archive
HSBC gets 15 bids for £1bn Canary Wharf HQ
HSBC has reportedly received 15 offers for its £1 bn Canary Wharf head office. The bidders include Evans Randall, German IVG Immobilien, Active Asset Investment Management, as well as a number of billionaire Gulf investors and Far East property tycoons, The Times newspaper reported in its online edition.
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PropertyEU Archive
Unibail, Whitehall sell EUR 2.1bn Coeur Defense tower
French property firm Unibail and the Whitehall Fund have sold the Coeur Defense office tower west of Paris in a deal that values one of Europe's biggest office blocks at EUR 2.11 bn. Unibail and Whitehall, with a 49% and a 51% stake respectively in SCI Karanis, the company owning ...
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PropertyEU Archive
LSR to raise £160m in London IPO
Local Shopping REIT (LSR) is planning to raise up to £160 mln through a listing on the London Stock Exchange in May, after which LSR will elect to become a real estate investment trust (REIT). The proceeds will be used to fund LSR's future acquisitions.
