All Real Assets articles in Web Issue – Page 72
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PropertyEU Archive
Skanska secures London office project for £50m
Swedish Skanska has been contracted to rebuild and expand the Dashwood House office building in London by Land Securities, the largest property company in the UK. The contract value comes to £50 mln (EUR 73.9 mln).
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PropertyEU Archive
Develica Deutschland invests EUR 70m in Germany
Develica Deutschland has announced the acquisition of three commercial properties in Germany over the last few days. It purchased a fully let 12,522 m[sup]2[/sup] logistics property, located in the northern city of Lohne for EUR 21.78 mln. The deal reflects an initial yield of 7.1%. It acquired another 50,000 m[sup]2[/sup] ...
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PropertyEU Archive
Patrizia, ABP and ATP to invest EUR 700m in Germany
Patrizia Immobilien has signed a co-investment agreement with Dutch pension fund ABP and Denmark's ATP Real Estate to spend as much as EUR 700 mln primarily on commercial real estate in Germany. The vehicle will be called Patroffice & Co. The German property investor said it will also handle all ...
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PropertyEU Archive
Bank Austria's fund shops in Germany
Bank Austria Creditanstalt's subsidiary Ba-Ca Real Invest is launching an open-ended real estate fund which will target investment opportunities across Europe. A spokesperson for Real Invest said that the fund has already acquired three office and retail properties in Frankfurt/Main, Hanburg and Stuttgart for about EUR 40 mln. The fund ...
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PropertyEU Archive
Deutsche Bank, Strabag join forces in Russia
Deutsche Bank and the Austrian developer Zao Strabag have teamed up in a joint venture called DB Development to operate in Russia's real estate market and the Commonwealth of Independent States' (CIS). This will be the first time a western European builder is both contractor and investor in Russian projects. ...
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PropertyEU Archive
Dassault buys two Paris offices
Immobilière Dassault has acquired two office buildings in France for a total of EUR 37.6 mln, excluding taxes. The French company has purchased a 1,716 m[sup]2[/sup] property, situated at 36, avenue Pierre Ier de Serbie in the eight arrondissement of Paris. The building is fully let to the fashion firm ...
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PropertyEU Archive
Land Securities sells White City park
Land Securities confirmed that it has sold the White City retail park in Manchester for £85 mln. The UK's biggest commercial property company decided to sell the 23,968 m[sup]2[/sup] scheme, after it converted into a real estate investment trust (REIT). The buyer has not been disclosed, but it is rumoured ...
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PropertyEU Archive
Proudreed buys 11 French assets
French company Proudreed has completed three purchase in France, acquiring 11 buildings with 75,528 m[sup]2[/sup] of business space. The investment value comes to EUR 41.2 mln, reflecting a yield of 8%, French newspaper Business Immo reported.
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PropertyEU Archive
Degi may sell off EUR 2bn in assets
Dresdner Bank's property fund arm Degi may sell off properties worth EUR 2 bn from its open-ended property funds, according to a report in newspaper Financial Times Deutschland. In February, Dresdner replaced the Degi management, bringing in Silvia Schmitten to cut back Degi's EUR 5 bn property fund business, one ...
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PropertyEU Archive
Eurohypo launches EUR 550m German CMBS transaction
German bank Eurohypo plans to launch a EUR 550 mln German commercial mortgage-backed securities transaction under an European Opera programme. The loan is backed by a portfolio of 36 office properties let to the federal state of Hesse on a 30-year lease. The transaction is the 15th of the Opera ...
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PropertyEU Archive
Layetana sells Barcelona's Agbar tower
Spain's Inmobiliaria Layetana has sold Barcelona's most iconic building, the Agbar tower, Spanish news agency EFE reported. The 144-metre property has been acquired by Antonio Vila and Santiago Oller and their investment vehicle Azurelau for an undisclosed amount. Completed in 2004, the skyscraper is home to the Catalan water utility ...
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PropertyEU Archive
Delek forced to aim lower in London IPO
Israeli conglomerate Delek raised £100 mln (EUR 150 mln) from the flotation of its property arm on London's AIM. Delek was looking to raise £150 mln, with a targeted price range of between £2.25 and £2.90 a share. The shares eventually traded in the £2.00 to £2.10 range. The offer ...
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PropertyEU Archive
Nominees for Commercial Real Estate awards named
The organisers of the Commercial Real Estate Awards 2007 have selected the participants that will move on to the second round. The winners will be announced during the awards ceremony to be held on 19 April at the Expocenter in Moscow. The nominees and categories are as follows:
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PropertyEU Archive
Euro property index claws back ground in March
The FTSE EPRA/NAREIT Europe Index in March clawed back some of its January and February losses, with Sweden and the UK booking strong returns, according to the European Public Real Estate Association.
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PropertyEU Archive
Gecina boosts logistics holding
Gecina, a listed French real estate firm, said it had acquired a 90,000 m[sup]2[/sup] logistics portfolio from the Mory Group, a French freight-forwarding and logistics operator. The portfolio covers 11 freight-forwarding platforms and two industrial properties in the Greater Paris Region. Gecina said the entire portfolio is leased to the ...
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PropertyEU Archive
Spanish builder to develop two Warsaw towers
Spanish builder Pro-Urba Polska is planning to develop two mixed-use towers in Warsaw with a combined space of 80,000 m[sup]2[/sup]. Pro-Urba Polska, a company owned by Spanish Grupo Proconsol and Urbanizadora XXI, bought the site from Polish developer Budbaum. It aims to build two towers measuring 63 and 126 metres ...
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PropertyEU Archive
Choice Hotels Europe to double French holdings
The European arm of US hotel chain Choice Hotels said it planned to more than double the number of hotels it operates in France in the next five years. The company said it wanted to raise the number of hotels in France to 250 from the current 120 by 2011. ...
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PropertyEU Archive
Newcastle football club set to develop St James' park
Newcastle United Football Club is planning to develop a £300 mln complex around its St James' Park ground. The league club said that the Number 1 St James' Park will cover a site ranging from 52,400 m[sup]2[/sup] to 60,000 m2, including a 140-room hotel and conference centre, newspaper Property Week ...
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PropertyEU Archive
Deutsche Wohnen shops in Offenbach, Frankfurt
German listed property company Deutsche Wohnen has acquired 510 residential and 37 commercial units from private investors for a total of EUR 40.5 mln. The 35,000 m[sup]2[/sup] portfolios are located in the cities of Offenbach (75%) and Frankfurt (25%).
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PropertyEU Archive
GPR index rises in March
The Global Property Research 250 Europe index rose by 3.5% in March after two consecutive months of losses, taking returns for the first quarter to 1.9%. March saw strong performances from Denmark, Poland and Turkey, with
