All Real Assets articles in Web Issue – Page 749
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PropertyEU Archive
Pramerica wins £135m mandate from major corporate pension fund
Pramerica Real Estate Investors has secured a new separate account mandate to invest £135 mln (EUR 156 mln) into UK ground lease properties on behalf of the trustees of a major corporate pension fund.
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PropertyEU Archive
Corio reiterates EUR 360m sales plan
Dutch shopping centre REIT Corio has confirmed it intends to dispose of EUR 360 mln in assets from its portfolio.
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PropertyEU Archive
Rockspring acquires Mole business park for EUR 44m
Rockspring Property Investment Managers has acquired Mole Business Park, Leatherhead, UK from Hermes Real Estate Investment Management Limited (HREIML). The transaction price amounted to £38 mln (EUR 44 mln), reflecting a 7.3% net initial yield.
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PropertyEU Archive
Beni Stabili posts 5% rise in net profit
Beni Stabili Siiq, Italy's largest listed property company, has reported a 5% increase in net profit to just over EUR 40 mln in the first nine months of the year, versus EUR 38 mln in the same period a year before.
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PropertyEU Archive
German insurer acquires SEB mall for EUR 73m
Life insurance company Württembergische Lebensversicherung has acquired the Stubengasse shopping centre and hotel property in the city centre of German city Munster for EUR 73 mln. The vendor of the 17,000 m[sup]2[/sup] property was SEB Asset Management on behalf of its semi-institutional open-ended real estate fund SEB ImmoPortfolio Target Return ...
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PropertyEU Archive
Marianne Voigt joins Alstria's supervisory board
Alstria Office REIT has appointed Marianne Voigt to its supervisory board. The German office investor said the appointment was the first step in adjusting its supervisory board to a new shareholder structure and reflects its increased free float. Voigt is a founder and managing director of bettermarks, an online maths ...
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PropertyEU Archive
Moscow overtakes London as city with best occupier demand prospects
Moscow has ousted London from first place in the rankings of Europe's most attractive cities for real estate investment this year after climbing from 10th to 2nd place the previous year, according to a new report from LaSalle Investment Management. The latest rise demonstrates the importance of size and economic ...
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PropertyEU Archive
Eurohypo suspends new business
German banking giant Commerzbank has suspended new business at Eurohypo, its commercial property lending subsidiary, until end-June 2012. The move is aimed at meeting the additional capital requirements of the European Banking Authority (EBA), which has said Commerzbank needed to fill a EUR 2.94 bn capital shortfall. Commerzbank has until ...
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PropertyEU Archive
MGPA opts for quick first close of Europe Fund IV
MGPA has raised about $100 mln (EUR 73 mln) in commitments in the first close of its Europe Fund IV (EF IV). The target size of the fund is $750 mln (EUR 600 mln) of equity with the potential to add 50-60% leverage.
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PropertyEU Archive
Economic uncertainty continues to hinder European market: RICS
Ongoing economic uncertainty further weakened commercial real estate markets around the world during the third quarter of this year, with usually strong performers such as France starting to falter, according to the latest RICS Global Commercial Property Survey.
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PropertyEU Archive
ECE fund makes first purchase in Italy
European shopping centre specialist ECE Projektmanagement has made its first move in the Italian market with the purchase of the Megaló shopping centre in Chieti, Central Italy, from the SEB ImmoInvest open-ended property fund. The selling price is substantially above the current market value, SEB said in a statement.
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PropertyEU Archive
Vastned Retail puts stronger focus on high-street
Dutch retail property fund Vastned Retail is to roll out a new strategy aimed at increasing its high-street exposure to 65%, from 48% at present.
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PropertyEU Archive
Deka buys for EUR 25m in the UK
German fund manager Deka Immobilien has announced the purchase of Direct Line House in Birmingham's central business district from Fuji Properties Limited for around EUR 25 mln.
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PropertyEU Archive
Drago Capital JV buys 50% in EUR 300m RBS portfolio
Spanish private investor Drago Capital has partnered with an unnamed Canadian institutional investor to acquire a 50% stake in a Spanish real estate portfolio owned by the Royal Bank of Scotland.
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PropertyEU Archive
Union sells Marseilles office to Perial for EUR 38m
German fund manager Union Investment Real Estate has sold the Espace Gaymard office building to French firm Perial Asset Management for just over EUR 38 mln, generating net proceeds of around EUR 5.3 mln. The property is being added to Perial's SCPI POF2 real estate fund.
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PropertyEU Archive
Goodman's European Fund completes EUR 400m rights issue
Goodman European Logistics Fund (GELF) has launched a EUR 400 mln underwritten equity raising and agreed credit approved terms for a new EUR 800 mln debt package.
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PropertyEU Archive
Wereldhave sells Finnish department store for EUR 45m
Dutch listed real estate company Wereldhave has sold a Stockmann department store in the Tapiola area of Espoo, Finland, to Tapiola KR III fund. The transaction price was EUR 45 mln, well above the book value.
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PropertyEU Archive
Corpus Sireo markets 54 AXA REIM properties in Germany
Corpus Sireo has announced that it sold a residential and commercial building in Münster on behalf of AXA Real estate Investment Managers to an unnamed private investor. The financial details of the transaction were not disclosed.
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PropertyEU Archive
Henderson's Herald beefs up European portfolio
Henderson Global Investors' EUR 1bn Herald retail property fund has acquired the Galerie des Ailes shopping centre in Le Blanc Mesnil, a suburb of Paris in France, as well as a Real hypermarket and gallery in Dreieich, Germany. The two transactions equate to around EUR 100 mln.
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PropertyEU Archive
DTZ says preliminary bids offer 'minimal value'
DTZ saw its shares plummet by nearly 90% to 2.37 pence on Monday morning after it said that the preliminary takeover bids received offer 'minimal value'.
