All Real Assets articles in Web Issue – Page 757
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PropertyEU Archive
Invesco RE closes largest Madrid office deal of 2011
Invesco Real Estate has completed the acquisition of a 10,000 m[sup]2[/sup] office building in Madrid from Pramerica Real Estate Investors, PropertyEU has learnt. The transaction price is understood to be around EUR 40 mln, reflecting a net yield of 6.5%.
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PropertyEU Archive
Aberdeen buys and sells for EUR 40m in Finland
Property funds managed by Aberdeen Asset Management closed transactions worth a combined EUR 40 mln in Finland during the third quarter.
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PropertyEU Archive
Castellum invests EUR 51m in Swedish property
Stockholm-listed real estate company Castellum is investing SEK 469 mln (EUR 51 mln) through its subsidiaries in a string of properties in Sweden. Two of the larger investments involve speculative developments which do not yet have any signed tenants.
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PropertyEU Archive
Fordgate defaults on EUR 700m securitised loan
Fordgate, the private property company of UK businessmen Moises and Mendi Gertner, is in loan restructuring negotiations with its lenders after defaulting on interest payments for a EUR 700 mln securitised senior loan.
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PropertyEU Archive
Moorfield, Property Alliance acquire The Towers in Manchester
UK private equity fund manager Moorfield and local developer-investor Property Alliance have announced their first joint investment with the purchase of The Towers in Didsbury, South Manchester for £47 mln (EUR 55 mln) from Amsterdam-listed property firm Wereldhave.
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PropertyEU Archive
Carrefour's property boss steps down after IPO put on ice
Pascal Duhamel, the head of French hypermarket chain Carrefour's property arm, has stepped down after the company shelved plans to spin off the division due to worsening market conditions.
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PropertyEU Archive
MAPIC: JLL picked as marketing agent for Galeria Wilanów
Polish listed developers Globe Trade Centre and Polnord have appointed Jones Lang LaSalle as exclusive agent in the commercialisation of the Galeria Wilanów shopping centre in Warsaw's Wilanów district.
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PropertyEU Archive
MAPIC: Multi opens luxury 'fashion street' in Ankara
European retail specialist Multi Development has added a new luxury fashion brand concept to its Forum Ankara Outlet shopping centre in Turkey.
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PropertyEU Archive
Hatfield Philips to enforce sale of Quelle Nürnberg asset
Special servicer Hatfield Philips is to auction the Quelle mixed-use complex in the German city of Nürnberg after its owner defaulted on EUR 110 mln of debt backing the asset. 'The special servicer applied to the competent court for the commencement of a compulsory auction of the Quelle Nürnberg property,' ...
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PropertyEU Archive
MAPIC: Brussels ranked most attractive shopping city in the Benelux
Brussels leads the ranking of most attractive retail destinations in the Benelux compiled by international broker Cushman & Wakefield. Brussels was followed closely by Amsterdam and Antwerp. Maastricht and Bruges also received good to outstanding marks. The C&W Benelux Retail Monitor includes 30 main cities in the Benelux.
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PropertyEU Archive
CEE banks favour restructuring to foreclosure
Some 30% of real estate loans in Central and Eastern Europe are considered to be impaired but lenders in the region still favour restructuring to foreclosure. In 2011 about 10% of property loans suffer from ‘serious impairment’ while a further 21% have ‘minor impairment’ in CEE, according to data compiled ...
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PropertyEU Archive
Sonae Sierra to manage Croatian retail development
International shopping centre specialist Sonae Sierra is reinforcing its third-party business with a new mandate to take over the development management of a mall project in Croatia.
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PropertyEU Archive
MAPIC: Foreign investors dominate Swedish retail market
Foreign investors accounted for 94% of the retail property transactions during the first half of 2011 in Sweden, a market traditionally seen as dominated by the large domestic pension funds and insurers. This compares to 70% in 2010 and 30% in 2009, according to Jones Lang LaSalle’s latest Swedish Retail ...
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PropertyEU Archive
European banks put brakes on new lending
The European property financing industry has lost two major lenders within a matter of weeks, sending shock waves rippling through the sector. Last week Société Générale Corporate & Investment Banking suspended new UK and continental European property lending indefinitely as the investment bank steps up significant bank-wide balance sheet deleveraging ...
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PropertyEU Archive
CA Immo takes 100% control of Munich's Skygarden
Vienna-listed real estate investor CA Immo has bought out its partner, developer OFB Projektentwicklung, in their 50:50 joint venture in the Skygarden office scheme in Munich. CA Immo is now the sole owner of the recently completed property.
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PropertyEU Archive
Morgan Stanley sells EUR 2.7b German asset manager
Morgan Stanley is selling German asset manager Argoneo Real Estate to EPM, a subsidiary of Bilfinger Berger Facility Services, with effect from January, EPM confirmed on Monday. Argoneo manages commercial property assets throughout Europe valued at some EUR 2.7 bn.
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PropertyEU Archive
Schroder Nordic fund invests EUR 20m in Sweden
Schroder Property has bought a second retail property in Sweden for around EUR 20 mln for its Nordic Property Fund in a deal reflecting an initial yield of 6.3%. The acquisition of Coop Forum in the city of Helsingborg follows the purchase, also in the second half of 2011, of ...
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PropertyEU Archive
ICSC Europe reveals finalists for 2012 awards
Sixteen shopping centres representing 11 European countries have made it to the shortlist of finalists for the International Council of Shopping Center (ICSC) Awards in Europe.
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PropertyEU Archive
CSC secures EUR 437m revolving facility
London-listed investor Capital Shopping Centres (CSC) has secured a £375 mln (EUR 437 mln) revolving credit facility which will be used to provide liquidity for the group.
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PropertyEU Archive
Resolution acquires 80% stake in Polish mall
Resolution Property has acquired an 80% stake in the Supersam shopping centre in Katowice, Poland. The deal is part of a EUR 60 mln joint venture with Prime Properties Company, which is part of the Warsaw-based Centrum Development and Investments Group.
