All Real Assets articles in Web Issue – Page 70
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PropertyEU Archive
CGG pays EUR115m for Paris office block
German property fund firm Commerz Grundbesitz said yesterday it had paid EUR 115 mln for the Portes de France office building currently under construction in Paris. The company said once construction is completed in the summer of 2008 the building will be included in its open-ended property fund Hausinvest Global.
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PropertyEU Archive
CA Immo, UBM to plough EUR 250m in Warsaw complex
CA Immo International and UBM are to develop a 200,000 m[sup]2[/sup] office and warehouse complex in Warsaw's Ursynow district. The Poleczki Business park development is located on a 14-hectare plot and will comprise 17 buildings, including office blocks, a car park and a 3-star hotel with conference facilities. Total investment ...
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PropertyEU Archive
Gazpromstroi set to buy Mirax Plaza for $650m
Gazpromstroi, a 100% subsidiary of Gazprom group, has agreed to buy Mirax Plaza in Moscow for $650 mln (EUR 487 mln), newspaper Daily Kommersant reported. In the biggest-ever acquisition of an office building in Russia, Gazpromstroi is acquiring the 102,000 m[sup]2[/sup] site from developer Mirax Group.
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PropertyEU Archive
Hochtief to manage 80 Varde Partners assets
Hochtief Facility Management (HTFM) will take over the management of a mixed-use portfolio of the international financial investor Varde Partners in the coming four years. The portfolio comprises 80 German real estate assets covering some 420,000 m[sup]2[/sup] of leasable space, Germany property newspaper Immobilien Zeitung reported.
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PropertyEU Archive
Mandarine makes acquisition in European expansion drive
Mandarine Group, a Paris-listed property company, has acquired the Luxembourg-registered real estate company Mandalux for about EUR 111 mln. Mandalux's capital consists of 4 million shares in companies active in Morocco and Switzerland. The French company will focus on building, marketing and managing of developments in these two countries. The ...
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PropertyEU Archive
GE Real Estate adds to German retail portfolio
GE Real Estate Germany has announced it has strengthened its retail position in Germany with the acquisition of a portfolio of outlets from a private individual for EUR 30 mln. The portfolio comprises 15 furniture stores, totalling 34,000 m2, located mainly in western Germany in the periphery of its major ...
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PropertyEU Archive
British Land puts EBRD head office up for sale
British Land has appointed DTZ to begin marketing of a 35,770 m[sup]2[/sup] building at the European Bank for Reconstruction and Development's office headquarters with an asking price of £387 mln (EUR 569 mln). The deal reflects a net initial yield of 4.8 %, a spokesperson for British Land told PropertyEU. ...
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PropertyEU Archive
Tesco to retain bulk of real estate
UK supermarket operator Tesco said yesterday it will retain the bulk of its property holdings, while still raising a targeted £ 5 bn (EUR 7.4 bn) from the sale of property assets. Tesco ceo Terry Leahy told Reuters that Tesco would always own most of its space. 'Tesco has a ...
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PropertyEU Archive
Quinlan completes UK office buy
Irish property firm Quinlan Private said yesterday it had completed the £ 69 mln (EUR 101 mln) purchase of the 21,000 square metre Marlow International office complex in the UK’s Buckinghamshire. The deal was announced in late 2006. Quinlan is thought to have beaten off rival bids from US firms ...
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PropertyEU Archive
CapCo and Gt. Portland form London JV
Liberty International unit Capital & Counties (CapCo) and Great Portland Estates (GPE) said today that they had agreed to form a central London property joint venture The Great Capital Partnership. The new venture will own, manage and develop central London properties and begins with a portfolio of more than 78,967 ...
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PropertyEU Archive
Correction: Capital Park and EuroCentrum in Warsaw
Colliers International advised 8 Star on the sale of Eurocentrum development in Warsaw by Capital Park. An article published in our digital newsletter on 28 March incorrectly stated that Capital Park had retained Colliers International as exclusive leasing agent for the project.
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PropertyEU Archive
Schloss-Strassen center opens
The newly-completed Schloss-Strassen shopping centre (SSC) in Berlin yesterday opened its doors to the first customers. Built on the site of the famous Hertie department store, the new shopping centre has more than 70 stores and 16,100 square metres of rental space.
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PropertyEU Archive
Warsaw set for Central Europe Meeting Point
Warsaw will be home to the Central Europe Meeting Point (CEMP) in April, an event set up to foster relations between Western property professionals and the main players from the Central and Eastern European countries. The CEMP, to be held at the Marriott Hotel in Warsaw from 18-20 April ...
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PropertyEU Archive
Klemurs buys 14 French retail assets
Klepierre's subidiary Klemurs is acquiring a portfolio of 14 retail assets located on the outskirts of several French metropolitan areas from the Belgian investment firm Mitiska for EUR 28.1 mln. The Cap Nord real estate portfolio covers an area of 21,816 m2, divided into 22 fully-occupied rental units.
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PropertyEU Archive
Bouygues sells office for EUR 141m
Bouygues Immobilier, the property unit of the Bouygues conglomerate, said it has sold a French office building for EUR 141.7 mln. Bouygues Immobilier sold the 39,000 m[sup]2[/sup] office building in St Denis, near Paris, to Spanish investor Naropa Properties.
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PropertyEU Archive
CGG buys EUR 215m Luxembourg project
Commerz Grundbesitz Group has acquired President, a Luxembourg commercial development project from Atenor. The project, located on a 1,35-hectare plot of land on the Kirchberg Plateau in Luxemburg, will comprise three buildings, offering a total of close to 30,000 m[sup]2[/sup] office space and 330 m[sup]2[/sup] of retail space. The real ...
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PropertyEU Archive
Ablon reports FY pre-tax net of EUR 51m
Hungarian property company Ablon yesterday reported pre-tax profit of EUR 51 mln for the 2006 full year. Ablon listed on London's AIM market in February of this year, raising EUR 143 mln. The company said gross rental income for the year was EUR 9.2 mln, with gross residential income at ...
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PropertyEU Archive
Iranian businessman makes £98.6m bid for La Tasca
Iranian entrepreneur Robert Tchenguiz and Icelandic bank Kaupthing made a 188 pence-a-share bid on Thursday for Spanish restaurant chain La Tasca. The offer values La Tasca, the largest UK group of Spanish restaurants, at £98.6 mln (EUR 145 mln), £2.6 mln more than the £96m bid agreed Wednesday by the ...
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PropertyEU Archive
Aberdeen buys Paris property
Aberdeen Property Investors's European Balanced Property Fund has made its first French purchase acquiring the landmark Haussmann-style, mixed-use building from AGF Iart in central Paris. The value of the transaction was not disclosed.
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PropertyEU Archive
Carrefour needs solutions for its real estate assets
Carrefour needs to fund ways of selling part of its property portfolio without disturbing the French retailer's core business, its ceo Jose Luis Duran said on Thursday during a retail conference in Barcelona. 'If we can create shareholder value, yes. The question is how to create it without hurting the ...
