All Real Assets articles in Web Issue – Page 688
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PropertyEU Archive
St Modwen to develop EUR 23m purpose-built facility for Siemens
UK regeneration specialist St Modwen has signed a £20 mln (EUR 22.7 mln) deal to develop and pre-let a new 135,000 sq ft facility at Teal Park, Lincoln, with German electronics company Siemens on a-12 year lease.
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PropertyEU Archive
Amundi shops in Italy with EUR 25m office buy
The Italian fund management arm of French group Amundi has acquired an office building in Casalecchio di Reno, near the northern Italian city of Bologna from the Petrarca real estate fund, managed by Aedes Bpm Re Sgr. The investment volume of EUR 25 mln reflects a yield of 7.39%.
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PropertyEU Archive
Over 40% of Lloyds and RBS property loans in 'intensive care', IPF hears
Around 43% of the real estate loans of UK financiers Lloyds Banking Group (LBG) and Royal Bank of Scotland (RBS) are in 'intensive care', an Investment Property Forum event has heard.
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PropertyEU Archive
AMF Real Estate sells Stockholm scheme for EUR 46m
Swedish property company AMF Real Estate said on Monday that it has sold the Stettin 6 asset in Stockholm's Tegeluddsvägen area to an affiliate of Estancia Fastigheter for some SEK 420 mln (EUR 46 mln). Ownership will be transferred in the fall of 2011.
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PropertyEU Archive
CBRE named as investment adviser for Coral student portfolio
CB Richard Ellis' Real Estate Finance team (CBRE REF), has been appointed as investment adviser to Coral Student Portfolio (Coral), a student accommodation fund-of-funds which provides investors with access to a range of specialist vehicles typically only available to the institutional market. CBRE REF will begin working for Coral from ...
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PropertyEU Archive
DTZ reviews approach from key shareholder SGP
Global real estate adviser DTZ said on Monday that it was still reviewing approaches of interest, including one from its majority shareholder Saint George Participations SAS (SGP), supported by brokerage firm BNP Paribas.
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PropertyEU Archive
Atrium settles legal dispute with Meinl Bank
Vienna and Amsterdam-listed Atrium European Real Estate has announced that it has laid a long-running dispute with former major shareholder, Austria's Meinl Bank, to rest. The two sides have reached an agreement that resolves all disputes between them.
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PropertyEU Archive
KGAL buys Bonn office scheme for green fund
German closed-end fund manager KGAL said on Monday that it has made the first investment on behalf of its EUR 500 mln Spezialfonds KGAL/HI Sustainable Office Fund with the purchase of the Rheinwerk 2 environmentally sustainable office complex in Bonn.
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PropertyEU Archive
Main Dublin shopping streets buck trend on occupancy: Savills
Dublin's two main city centre shopping streets, Grafton Street and Henry Street, are recording occupancy rates of 98.1% and 99.4% respectively as rents on new prime zone A lettings fall by up to around 50% to pre-boom levels, according to new research from Savills.
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PropertyEU Archive
PKP, HB Reavis in EUR 110m Warsaw mixed-use scheme
Slovak-based real estate developer and investor HB Reavis and Polish state-owned railway group PKP are partnering to build a mixed-use scheme and a railway station in the western part of Warsaw. The partners plan to invest a total of EUR 110 mln in the development of the project, which includes ...
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PropertyEU Archive
VGP in talks to sell 80% of Czech logistics portfolio for EUR 140m
Central and Eastern European listed logistics development group VGP has signed a preliminary agreement for the sale of an 80% stake in a portfolio of seven logistics parks in the Czech Republic for some EUR 140 mln. The buyer is an unnamed international investor, advised by Cushman & Wakefield.
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PropertyEU Archive
Deutsche Pfandbrief, SEB arrange EUR 180m refinancing loan
German lender pbb Deutsche Pfandbriefbank and Sweden's Skandinaviska Enskilda Banken (SEB) have provided a SEK 1.65 bn (EUR 180 mln) credit facility for the refinancing of Niam's News and Palmfelt office portfolios in Sweden.
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PropertyEU Archive
Leadenhall Triangle sale proceeds cover EUR 194m loan
Henderson Global Investors and a Canadian sovereign wealth fund have completed the joint acquisition of the Leadenhall Triangle office complex in the City of London, special servicer Hatfield Philips International (HPI) said on Tuesday. When the deal was first reported in mid-May the investment volume was believed to be substantially ...
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PropertyEU Archive
Cofinimmo buys care home portfolio for EUR 44m
Belgian listed property group Cofinimmo has announced the acquisition of a portfolio of six care homes located in France and let to the Medica Group, representing a total value of EUR 44.5 mln.
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PropertyEU Archive
IRE buys G45 scheme in Hamburg for EUR 63m
International investment manager Invesco Real Estate (IRE) has acquired the G45 mixed-use scheme at Hamburg's Gänsemarkt for around EUR 63.5 mln. The vendor is one of US group Carlyle's private equity real estate funds.
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PropertyEU Archive
IVG fund acquires Pfizer's Prague HQ
Property adviser CB Richard Ellis announced that its capital markets team assisted Pfizer in a sale-and-partial-leaseback transaction of the pharmaceutical company's headquarter in Prague 5. The deal was initially signalled in May and the investment volume was not disclosed.
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PropertyEU Archive
Apollo likely buyer for WestImmo, industry sources say
State-owned German bank WestLB is on the brink of selling its Pfandbrief-issuing subsidiary WestImmo to Apollo Global Management, according to those who track the market, with a sale widely expected to be concluded by the end of the month.
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PropertyEU Archive
CBRE Investors sells Citalys to BNP Paribas REIM
BNP Paribas REIM has acquired the Citalys office scheme in Montévrain Val d’Europe, France, from the CB Richard Ellis Strategic Partners Europe Fund III, managed by CBRE Investors, for an undisclosed amount. The property is earmarked for BNP Paribas REIM's SCPI Valeur Pierre Alliance investment vehicle. Financial details were not ...
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PropertyEU Archive
Irish investor buys Neumarkt Galerie out of insolvency
Irish private equity firm Signature Capital has acquired one of Cologne's major landmarks, the Neumarkt Galerie mixed-use complex, from administrator Markus Heider of Goerg for around EUR 130-135 mln, well-informed market sources told PropertyEU. The price represents a nearly 25% discount to the amount paid by the former owner, Irish ...
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PropertyEU Archive
Two-thirds of East German shopping centres require overhaul: IVG
Around two-thirds of all shopping centres in eastern Germany require long-term revitalisation for the first time, according to a research report by German listed company IVG. Most of the shopping centres were built after re-unification in the 1990s, often with little expertise, the report said. All in all, two-fifths of ...
