All Real Assets articles in Web Issue – Page 693
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PropertyEU Archive
Aedes sells EUR 80m Rome asset
Italian property company Aedes has signed a preliminary agreement to sell a commercial building at Via Manzoni 65 in Rome to an undisclosed buyer. The transaction involves a cash price of EUR 8.5 mln and the transfer of roughly EUR 74 mln of debt.
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PropertyEU Archive
British Land buys Hutchison Whampoa HQ for EUR 82m
UK REIT British Land has purchased the 18,400-m[sup]2[/sup] Grenfell Island mixed-use scheme in Maidenhead town centre, England. The investment volume of £74 mln (EUR 82 mln) reflects a net initial yield of 7.5%.
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PropertyEU Archive
Acron places new Swiss fund, buys Fiege asset
Swiss investment manager Acron has placed a new closed-end investment fund, Acron Helvetia V Immobilien, with three private investors.
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PropertyEU Archive
Deutsche Bank places landmark European CMBS
The London branch of Deutsche Bank on Tuesday completed the placing of a £302 mln (EUR 336 mln) Commercial Mortgage Backed Securitisation (CMBS), in the first European CMBS public offering since the onset of the credit crisis in 2007.
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PropertyEU Archive
Trigranit parent ties up with China's HNA in development venture
Demján Group, the majority shareholder in Budapest-based CEE developer Trigranit, is linking up with one of the top Chinese private conglomerates to cooperate in a number of areas including large real estate projects.
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PropertyEU Archive
DIC sells office complex at MainTor
German listed real estate company Deutsche Immobilien Chancen (DIC) has announced the forward sale of an office complex at the MainTor project in Frankfurt. The buyer is Frankfurt-based private Professor Carlo Giersch.
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PropertyEU Archive
Unieco sells Fidenza shopping park to Cordea Savills
Italian private real estate developer Unieco has divested the Fidenza shopping park near Parma, Northern Italy, to fund manager Cordea Savills' Radegonda closed-end investment fund for institutional investors. The transaction - the first acquisition for the newly-launched Radegonda fund - amounts to around EUR 40 mln.
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PropertyEU Archive
Reyal Urbis seeks new debt refinancing
Spanish listed office property company Reyal Urbis said this week that it has resumed discussions with its creditor banks regarding a new refinancing of its debt in light of the 'continuing deterioration of the real estate market'.
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PropertyEU Archive
Deutsche Pfandbrief provides loan facility to EPISO
pbb Deutsche Pfandbriefbank, the core bank of Germany’s HRE Group, has provided a GBP94.25mln loan facility to European Property Investors Special Opportunities fund, which is co-advised by Tristan Capital and AEW Europe.
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PropertyEU Archive
Keen to expand Rzeszów mall in Poland
Keen Property Partners Retail (KPP Retail) has received a building permit to connect Rzeszów Plaza shopping centre to the adjacent E.Leclerc hypermarket. The work will increase the retail space at the shopping centre in south-eastern Poland by 5,000 m[sup]2[/sup] to 19,500 m[sup]2[/sup].
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PropertyEU Archive
Sagax makes further purchase in Stockholm
Listed Swedish property company Sagax has signed its third acquisition in Stockholm in a week with the purchase of the Vitå 1 property in Kista, Northern Stockholm, for SEK 198 mln (EUR 21.5 mln), representing a net initial yield of 8%. The acquisition is financed with equity and with a ...
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PropertyEU Archive
ASR REIM launches EUR 1.1 bn Dutch retail fund
ASR Real Estate Investment Management (ASR REIM) is launching a seeded EUR 1.1 bn retail fund targeting global institutional investors. The portfolio comprises 210 prime Dutch retail assets including single high street units, district shopping centres and supermarkets covering a lettable area of over 300,000 m[sup]2[/sup]. Including a pipeline of ...
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PropertyEU Archive
Norway's KLP seals EUR 170m purchase in Copenhagen
The Danish arm of Norwegian real estate group KLP Eiendom has snapped up the massive TDC office complex at Teglholmsgade in the South Harbour of Copenhagen for DKK 1.26 bn (EUR 170 mln). The deal - the largest property transaction clinched in Denmark so far in 2011 - reflects a ...
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PropertyEU Archive
Prime Office raises EUR 214m in IPO
German office property firm Prime Office raised roughly EUR 214 mln after placing 34.5 million shares at a price of EUR 6.20 per share on the Frankfurt and Munich stock exchanges on Thursday. The operation comes a week after Prime Office was forced to postpone its IPO at a substantially ...
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PropertyEU Archive
Fimit fund sells Milano 3 City office building
Alpha Immobiliare Fund, managed by Italian fund manager Fimit, has divested an office complex located in Basiglio, near Milan, to an unnamed local institutional investor. The transaction price amounts to EUR 18 mln.
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PropertyEU Archive
Gecina offloads Barclays Cap's French HQ at 4.7% yield
French office REIT Gecina has completed two major divestments in Paris and Lyon, bringing its total disposal volume so far this year to nearly EUR 560 mln. In a statement on Thursday, Gecina said it has sold the Origami office building in the eighth arrondissement of Paris to a private ...
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PropertyEU Archive
Estcapital sells London's St Martins Place for £41m
Italian fund manager Estcapital has clinched the sale of a mixed-use scheme at 7/8 St Martins Place in London to West End of London Property Unit Trust (WELPUT), a closed-end fund managed by Schroders.
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PropertyEU Archive
Deutsche Pfandbriefbank provides EUR 46m for Swedish deal
German real estate lender pbb Deutsche Pfandbriefbank has provided a SEK 422 million (EUR 46 mln) facility to a Swedish investor for the acquisition of a 95,400-m[sup]2[/sup] distribution centre.
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PropertyEU Archive
Internos to manage EUR 487m IERET portfolio
Internos Real Investors has been appointed to manage the sale of the EUR 487 mln portfolio owned by London-listed Invista European Real Estate Trust (IERET).
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PropertyEU Archive
Canadian pension fund bags 50% of London's MidCity Place
Canadian pension fund Ontario Municipal Employees Retirement System (OMERS) has purchased a 50% stake in MidCity Place in London from an affiliate of US private equity firm Beacon Capital Partners. Although the acquisition volume was not disclosed, market reports indicate the price was around £142 mln (EUR 157 mln).
