All Real Assets articles in Web Issue – Page 76
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PropertyEU Archive
Wessels buys the Bavarian stock exchange in Munich
Volker Wessels' investment vehicle Kondor Wessels and the Dutch building industry pension fund BPF Bouwinvest have jointed forces to buy the head office of the Bavarian stock exchange at Lenbachplatz in Munich. The acquisition price is EUR 21 mln, German newspaper Immobilien Zeitung reported. The stock exchange property is being ...
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PropertyEU Archive
Ukraine property market pulling in billions in foreign investment
Ukraine's property market is booming and attracting billions of euros in investment from major foreign players, largely in the commercial real estate sector. Terry Pickard, managing director of the Ukrainean arm of NAI Global told Kiev newspaper Kyiv Post that the rush in the countries is the fiercest he’s ...
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PropertyEU Archive
LB Immo Invest to set up nursing-home and hotel funds
LB Immo Invest, a German investment company founded by HSH Real Estate, Real I.S. and Landesbank Hessen-Thuringen, has announced it will launch a special property fund investing mainly in nursing homes. The fund has a target size of EUR 500 mln. The fund will invest in some 50 nursing homes ...
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PropertyEU Archive
Countrywide approve £1.05 bn Apollo Bid
Countrywide's shareholders have approved a bid by US private equity group Apollo for Countrywide, the UK's largest residential real estate broker. Earlier Apollo raised its cash-and-stock offer for Countrywide to £1.05 bn (EUR 1.54 bn), or £6.17 per share, after another potential bidder approached Countrywide.
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PropertyEU Archive
Brussels office market sees demand, rents rise in 2006
The Brussels office market is attracting investors with high occupancy rates and increasing rents, according to the latest King Sturge report on the Belgian capital’s office property sector. The office sector accounted for 59% of all Belgian property investments, with Brussels alone garnering 40% of investments in the country’s real ...
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PropertyEU Archive
Eurohypo backs Rockpoint's UK warehouse buy with £220m facility
Eurohypo has provided a £220 mln (EUR 322 mln) facility to support the acquisition by Rockpoint of a 371,612 m[sup]2[/sup] warehouse portfolio previously owned by Gladman Developments. Eurohypo is the sole mandated arranger, agent and underwriter for the debt facility, Eurohypo said in a statement.
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PropertyEU Archive
DB RE to sell European assets for EUR 400 mln
Deutsche Bank's property arm DB Real Estate is planning to sell its Metropolis 1 portfolio of offices in London, Paris and Budapest. The portfolio, owned by DB RE METROPOLIS 1 closed-end fund, was bought for EUR 310 mln three years ago and was originally intended to be hold until 2014/2015. ...
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PropertyEU Archive
Raven Russia, EGL to build $56m Russian logistics complex
UK-listed property fund Raven Russia and Turkish developer and logistics operator EGL said they have started construction on a 55,000 m[sup]2[/sup] logistics complex near Moscow's Sheremetyevo-2 airport. Raven Russia's advisors, Jones Lang LaSalle, said the joint venture will invest an estimated $ 56 mln (EUR 42 mln) in the project.
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PropertyEU Archive
LSR offers 92 million shares in London IPO
Local Shopping REIT, a British property investment company, is offering almost 92 million ordinary shares in an Initial Public Offering (IPO) in London, LSR said in a statement. The offer is being carried out at a price of 174 pence per share. Local Shopping REIT plans to raise as much ...
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PropertyEU Archive
Redevco acquires Swedish retail warehouse
Redevco Sweden has purchased a retail warehouse in Lund from Swedish real estate company Ikano Fastigheter for an undisclosed amount. The property, which is fully let, is located in the Nova Lund retail park, and provides about 3,200 m[sup]2[/sup] of retail. It was constructed in 2005 and is let to ...
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PropertyEU Archive
Redevco buys multi-purpose Angereck building
Dutch property company Redevco has agreed to buy the multi-purpose Angereck building in downtown Erfurt, the capital of the federal state of Thuringia in Germany. The retail, offices and residential building was completed in 1999 and has a total lettable area of around 7,500 m[sup]2[/sup]. The building is fully ...
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PropertyEU Archive
Metrovacesa to develop Barcelona office building
Spanish property firm Metrovacesa said it had bought an 11,387 m[sup]2[/sup] plot in Barcelona’s 22@ business district for an undisclosed sum. The company said it will build a 20,687 m[sup]2[/sup] office building on the new site and an adjacent 9,300 m[sup]2[/sup] plot bought in July 2006. Metrovacesa opened a 32,000 ...
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PropertyEU Archive
BlackRock, Horizon IM join forces
Horizon Investment Management and Blackrock are teaming up to invest in development projects across France, Belgium, the Netherlands and Luxembourg, Horizon said in a statement. The first step of the plan will involve the acquisition of EUR 600 mln of properties to be developed on behalf of Blackrock's Opportunistic Real ...
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PropertyEU Archive
Colonial-Inmoracal eyes European expansion
Luis Portillo, head of Colonial, Inmocaral and Societe Foncieres Lyonnais, is already looking beyond his latest acquisition in Spain. The entrepreneur told new agency Europa Press on Thursday that he is seeking acquisitions in the Netherlands, Germany and the UK.
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PropertyEU Archive
Lloyd Fonds purchases Sylt hotel
Hamburg-based Lloyd Fonds has acquired a hotel development in Sylt, northern Germany, for EUR 24.4 mln. The seller, real estate company GBI, will retain a 5.1% interest in the project, which is to provide some 17,000 m[sup]2[/sup] of four/star hotel space.
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PropertyEU Archive
Prupim sets up sustainable portfolio
UK-based Prupim is launching a new portfolio which will examine ways a 'typical' property portfolio's carbon footprint can be reduced while maintaining or even enhancing investment returns. The Improver Portfolio consists of 25 Prupim-managed properties covering all sectors.
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PropertyEU Archive
Prudential tipped as frontrunner for £1bn HSBC head office
UK financial services group Prudential is the frontrunner in the public auction to buy HSBC bank's head office in London's Canary Wharf, researchers at merchant bank Kempen & Co have claimed. The property was put on the market last February with a price tag of £800 mln (EUR 1.2 bn). ...
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PropertyEU Archive
RBS sells on Marriott hotels for EUR 1.6 bn
The Royal Bank of Scotland (RBS) has sold a portfolio of 47 Marriott Hotels to a consortium led and advised by Irish private equity group Quinlan Private (QP) and Israeli real estate investor Igal Ahouvi Group (IA Group) for £1.1 bn (EUR 1.6 bn).
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PropertyEU Archive
£2.5 bn UK hotels set for London IPO
Plans to float a firm owning 60 to 80 UK hotel properties worth up to £2.5 bn (EUR 3.6 bn) on the London stock exchange are to be announced this month, a source close to the process told news agency Reuters. The source said a company backed by the Royal ...
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PropertyEU Archive
Pirelli RE wins EUR 274m facility management contract
A consortium led by Pirelli Real Estate has been awarded four out of twelve facility management contracts from Consip, a state-owned company that provides IT support to government and public agencies in Italy. The contracts have a four-year term and will provide total revenues of EUR 274.5 mln, or about ...
