All Real Assets articles in Web Issue – Page 74
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PropertyEU Archive
GTC set to build 12 shopping centres
GTC Romania said it is planning to develop about 10 to 12 shopping centres in Romania within the next four years. The company also said it is starting the construction of three shopping malls in Buzau, Piatra Neamt and Suceava in Romania under the common brand Galleria. Completion for the ...
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PropertyEU Archive
VIB Vermogen buys EUR 37m in logistics assets
VIB Vermogen, a German company specialising in commercial real estate, has purchased two logistics properties in Neufahrn, near Munich, and Wackersdorf in southern Germany for EUR 37 mln. The properties, which are completely let, generate an annual rental income of about EUR 2.8 mln. The deal reflects a rental yield ...
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PropertyEU Archive
DIC Asset grabs German portfolio for EUR 460m
DIC Asset has acquired a mixed-use property portfolio from SEB Immobilien-Investment for about EUR 460 mln, including transaction costs. DIC Asset's chairman Ulrich Holler said the company is planning to make further investments this year of at least EUR 1 bn. 'The purchase of this valuable portfolio is the start ...
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PropertyEU Archive
Bilfinger Berger wins EUR 80m construction contact
German construction company Bilfinger Berger said it has won a contract to design, build and operate a justice and civic centre in Wiesbaden, Germany. The project, worth EUR 80 mln, will be financed by Hessische Landesbank, with the bank's subsidiary OSB acting as project developer. The management contract runs for ...
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PropertyEU Archive
Amsterdam's office market reaches turning point
Amsterdam's office market has reached a turning point according to research by real estate advisor Savills. After the stability that has characterised the city's rental levels in the last three to four years, 2006 signalled the turning point for Amsterdam’s office market, with rents starting to increase and rising an ...
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PropertyEU Archive
ING RE sells Belgian project to Redevco
ING Real Estate is selling the retail part of the Genk Stadsplein/Sint Martinusplein project to Redevco Belgium. The scheme provides some 30 retail units with a total surface of 16,000 m[sup]2[/sup]. It is nearly fully let (99%) to national and international retailers such as H&M, JBC, GB, Zara, C&A, ICI ...
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PropertyEU Archive
ICSC conference to discuss mall expansion strategies
More than 650 delegates from 30 countries have registered to attend the International Council of Shopping Centers' European conference in Warsaw from 25 to 27 April. The conference will provide 'an ideal platform for delegates to discuss how to create a strategy for expansion and to find a solution for ...
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PropertyEU Archive
German G-REIT congress in Frankfurt
The fourth annual German G-REIT congress will be held in Frankfurt on 13 April to discuss the topic 'It's a Go for the G-REIT - but what are the next steps?' Leading players in the German real estate sector will give an overview of their future plans. Participants can ...
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PropertyEU Archive
Dolphin takes over largest Cypriot developer
Dolphin Capital Atlantis is acquiring a 80% stake in Aristo, the largest holiday-home development company in Cyprus for EUR 245 mln. Aristo owns the 1,000-hectare site Venus Rock, the largest sea-front residential resort development in Europe, as well as three our of 12 new preliminary licenses for residential resorts granted ...
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PropertyEU Archive
Fabege sells eight properties for EUR 145.4 mln
Fabege is selling a mixed-use portfolio to Swedish peer Dios & Kuylenstierna Forvaltning for SEK 1.35 bn (EUR 145.4 mln). The sale will result in an after-tax gain of about SEK 200 mln, Fabege said in a press release. The portfolio consists of eight properties that provide office, industrial and ...
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PropertyEU Archive
Bouygues sells Paris office for EUR 484 mln
Bouygues Immobilier, the property arm of French conglomerate Bouygues, is selling the Tour Mozart office building on the outskirts of Paris to the investment company Docks Lyonnais for EUR 484 mln. The 45,500 m[sup]2[/sup] office property is due to house the head office of Bouygues Telecom from 2010.
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PropertyEU Archive
Chelsea barracks sold for EUR 880m
A state-owned Qatari property group and London developer Christian Candy have bought London's Chelsea Barracks from Britain's Ministry of Defence for £600 mln (EUR 880 mln). Qatari Diar Real Estate Investment and Candy's investment vehicle CPC Group are part of the Project Blue consortium that won the tender to acquire ...
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PropertyEU Archive
Morgan Stanley resigns as joint financial adviser to Brixton
Morgan Stanley resigned last month as one of the joint financial advisors to Brixton, the UK-listed industrial and warehouse real estate investment trust (REIT). The decision by Morgan Stanley follows John Carrafiell's move from Morgan Stanley's investment banking division to run the bank's global real estate principal investing and investment ...
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PropertyEU Archive
Skanska to build London office
Swedish construction company Skanska has been awarded a contract by Hermes Real Estate to build an office property in London for £68 mln (EUR 100 mln). The project is an eight-floor building comprising 21,000 m[sup]2[/sup] of lettable office space on Gresham Street in the City of London. Work has ...
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PropertyEU Archive
Oppenheim Immobilien buys Warsaw office
German property investment company Oppenheim Immobilien has acquired Warsaw's BTA Office Building for an undisclosed amount. The building is located on Rzymowskiego Street in the Mokotow district of the Polish capital. The property provides some 6,700 m[sup]2[/sup] of fully-leased space and the major tenants include Pfeizer, BZ WBK Bank, TBWA, ...
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PropertyEU Archive
Chagala to develop malls in Kazakhstan
Kazakh real estate company Chagala Group has signed an agreement with Zere, another local firm, to develop and operate a number of shopping centres across the country. Under the plan, Chagala will take a 50.1% interest in Zere's subsidiary Zere Malls, which will be renamed Chagala Zere Malls (CZM).
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PropertyEU Archive
Unibail, Rodamco create Europe's largest property company
France's largest real estate investment trust Unibail and Rotterdam-based retail property company Rodamco Europe have agreed to merge their activities in a conglomerate valued at EUR 21.7 bn. The new entity will be the largest property company in Europe by market capitalisation and the second largest retail property company in ...
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PropertyEU Archive
Mega merger 'heralds more consolidation'
The merger of France's Unibail and Rotterdam-based Rodamco Europe to create the largest pan-European commercial property company is likely to be the first of a series of consolidations in the European property sector, according to analysts at JP Morgan.
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PropertyEU Archive
Inmocaral seeks merger partners for SFL
Spanish property group Inmocaral is in talks with two companies in relation to a merger with its French unit Societe Fonciere Lyonnaise (SFL), Spanish daily La Gaceta reported. Citing Inmocaral's ceo Luis Portillo, the newspaper said Inmocaral is considering the possibility of expanding its French business prior to selling a ...
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PropertyEU Archive
Russia may return $50 bn in church assets
The Russian authorities will decide by the end of April whether to return to a number of property assets valued at up to $ 50 bn (EUR 37.2 bn) to the Russian Orthodox Church, Italian news agency Ansa reported. The move comes in the wake of a project commissioned by ...
