All Real Assets articles in Web Issue – Page 692
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PropertyEU Archive
Max JV seals EUR 174m Central London deal
A 60/40 joint venture between Max Property Group and Newmarket Property Holdings, a subsidiary of an overseas family trust, has agreed to purchase the freehold St Katharine Docks from St Katharine's Investments. The cash consideration of £156 mln (EUR 174 mln), net of acquisition costs, equates to a capital value ...
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PropertyEU Archive
UK legacy loans could take 5 years to resolve, IPF told
The total commercial property lending market in the UK contracted to around £290 bn (EUR 329 bn) last year from £305 bn in 2009, delegates at a recent Investment Property Forum event in London heard.
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PropertyEU Archive
St. Modwen gets green light for EUR 80m project
UK regeneration specialist St. Modwen Properties and its partner Advantage West Midlands have secured planning permission from the Birmingham city council to develop a £70 mln (EUR 79 mln) town centre at Longbridge.
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PropertyEU Archive
Terrace Hill acquires foodstore development site
UK property developer and investment group Terrace Hill has exchanged contracts to acquire a development site in Sedgefield, County Durham. The site extends to 2.9 hectares. The acquisition is subject to obtaining planning for a 4,600 m[sup]2[/sup] foodstore and the signing of a pre-let. The financial details were not disclosed.
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PropertyEU Archive
Composition completes European acquisitions
Composition Capital Partners has finalised three residential and commercial property investments in Germany and the Nordics on behalf of its second Europe Fund, which is now fully invested. Financial details were not disclosed.
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PropertyEU Archive
Dutch portfolio sale looms after failed refinancing talks
A EUR 865 mln office portfolio in the Netherlands faces a potential forced sale after the collapse of refinancing talks between Eurohypo and the bondholders of the Opera Finance CMBS facility underpinning the assets.
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PropertyEU Archive
Goodman opens first warehouse at Kraków Airport
Goodman Group has opened its first warehouse at Kraków Airport Logistics Centre, with two tenants in place and a third set to move in next week. When construction began on the 14,000-m[sup]2[/sup] warehouse in October 2010, it was Goodman’s first speculative development in Central Europe in 18 months.
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PropertyEU Archive
IVG to transform Amsterdam office into budget hotel
German listed property group IVG Immobilien plans to convert an 8,200-m[sup]2[/sup] office building in the Sloterdijk district of Amsterdam into a 252-room Holiday Inn Express Hotel.
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PropertyEU Archive
Etalon to build residential neighborhood in St. Petersburg
Russian listed developer Etalon Group has acquired a 2.1-hectare land plot in the Moskovsky district of St Petersburg for a 50,000 m[sup]2[/sup] mass market residential neighbourhood project. This is the second new project the company has added to its development pipeline since its IPO on the London stock exchange in ...
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PropertyEU Archive
SPP buys Uppsala police station
Swedish savings and insurance company SPP, part of Norway's Storebrand Group, has announced the purchase of the Svartbäcken 52:9 property in Uppsala, Sweden from Nordisk Renting. Although the acquisition volume was not disclosed, Swedish media reported a price of SEK 400-500 mln (EUR 50 mln).
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PropertyEU Archive
Helical Poland starts development of Europa Centralna mall
Helical Poland, a subsidiary of UK listed real estate investor Helicar Bar, has started the development of the Europa Centralna regional shopping centre and adjoining retail park near Gliwice, Poland.
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PropertyEU Archive
Hammerson gets London Wall consent
UK REIT Hammerson has received planning consent for its London Wall Place office development. The 46,000-m[sup]2[/sup] scheme, designed by MAKE architects, will require the demolition of the St Alphage House tower and podium in London to make way for two landmark office buildings.
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PropertyEU Archive
Hemfosa inks sale-and-leaseback deal with Saab
Cash-strapped Swedish carmaker Saab Automobile has signed a preliminary agreement to sell a 50.1% share in its property portfolio, including the company's factory in Trollhättan, to a consortium of Swedish real estate investors led by Hemfosa.
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PropertyEU Archive
Real Estate Society of Romania officially launched
A number of international property consultants gathered in Bucharest last week to officially launch the Real Estate Professionals Society (REPS) in an effort to promote higher professional standards in the Romanian market.
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PropertyEU Archive
Prime Office relaunches IPO at lower issue price
German real estate investor Prime Office has announced that it is relaunching its IPO of shares for retail and institutional investors on Wednesday. Some 34.5 million shares are being offered at EUR 6.20 per share - a substantial reduction on the original range of EUR 7-9.50 cited in the lead ...
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PropertyEU Archive
NSI, Multi to redevelop Keizerslanden mall
Dutch listed closed-end real estate investor NSI and private development group Multi have signed an agreement with the city of Deventer for the redevelopment and extension of the Keizerslanden shopping centre. The total investment will amount to EUR 25 mln.
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PropertyEU Archive
Metrovacesa shareholders back EUR 1.95b capital increase
Around 99% of shareholders in Spain's largest listed property firm, Metrovacesa, have given their approval to a EUR 1.95 bn capital increase during a general shareholder meeting held on Tuesday.
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PropertyEU Archive
Futureal to invest EUR 100m in development partnerships
Hungarian developer Futureal aims to invest EUR 100 mln of equity through development partnerships over the next two years to jumpstart stalled projects in Central and Eastern Europe (CEE).
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PropertyEU Archive
KF Fastigheter buys 2 assets for EUR 26m
Swedish retail property company KF Fastigheter has bought the Årdret 3 and Välten 10 retail assets in Lund, Southern Sweden, from developer Paulssons Group. The transaction price amounts to SEK 240 mln (EUR 26 mln).
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PropertyEU Archive
Minerva backs EUR 226m takeover offer
Listed London real estate developer Minerva has given its backing to a £202.6 mln (EUR 226 mln) takeover offer from a consortium led by Delancey and Area Property Partners. Under the terms of the deal Minerva's shareholders would receive 120.5 pence per share from the consortium's special purpose vehicle, Jupiter ...
