All Real Assets articles in Web Issue – Page 761
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PropertyEU Archive
Orchard Street buys Edinburgh retail park for 6.2%
Orchard Street Investment Management has completed the acquisition of a retail park in Edinburgh, Scotland for £24.5 mln (EUR 28 mln), reflecting an initial yield of 6.2%. The vendor of Straiton Retail Park was BA Pension Fund.
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PropertyEU Archive
Tamar fund sells 2 assets in Norway for 7.2%
Tamar European Industrial Fund has signed an unconditional agreement for the sale of two assets in the greater Oslo district, for a net price of £15.5 mln (EUR 18 mln). The sale price reflects a net initial yield of 7.21% and is 9% above the last valuation carried out in ...
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PropertyEU Archive
Immofinanz gets EUR 210m financing for Polish mall
Vienna-listed real estate company Immofinanz has secured a EUR 210 mln refinancing and development facility for its Silesia City Center mall in Katowice, Poland. The funding is being provided by German banks Helaba and pbb Deutsche Pfandbriefbank in a club deal.
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PropertyEU Archive
Crisis likely to affect deal volume in Q4: JLL
Global real estate investment activity held up well in the third quarter of 2011 but worsening economic sentiment is likely to have an impact on transaction volumes in Q4, according to JLL's latest Global Capital Flows research report.
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PropertyEU Archive
LGP completes EUR 83m leisure fund refinancing
Legal & General Property has refinanced its Leisure Fund with a £71 mln (EUR 83 mln) facility provided by the Royal Bank of Scotland. The facility runs for five years and incorporates the potential to draw down an additional £40 mln for future investment opportunities.
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PropertyEU Archive
RREEF buys Alstom's Paris HQ for EUR 99m
RREEF has acquired the Paris headquarters of train systems specialist Alstom Transport for EUR 98.7 mln. The transaction was carried out on behalf of RREEF's open-ended fund Grundbesitz Europa.
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PropertyEU Archive
Willhem acquires student flats in Sweden
Swedish property investor Willhem has acquired two buildings with student apartments for EUR 15 mln. The vendor of the properties in Halmstad was Swedish private property firm Fragerus Fastigheter.
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PropertyEU Archive
Newsec's Vilnius mall goes on the block
Nordic property services firm Newsec has launched a public tender to sell the Gedimino 9 shopping centre in Vilnius, Lithuania.
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PropertyEU Archive
Hufvudstaden buys office property in central Stockholm
Swedish listed property company Hufvudstaden has acquired an office property in Stockholm for SEK 477 mln (EUR 51.5 mln) from listed Swedish peer Fabege. The transaction is expected to complete in mid-December.
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PropertyEU Archive
Patrizia buys Motel One hotel in Munich
German listed property company Patrizia has acquired a Motel One hotel on Tegernseer Landstrasse in Munich for an undisclosed amount. The acquisition from Gecon Immobilien, a Büschl Group company, was carried out by Patrizia's institutional fund management KAG business for the LB Hotel-Invest Deutschland I fund.
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PropertyEU Archive
Alpha buys 32,000 m[sup]2[/sup] logistics property in Munich
Alpha Industrial has increased its presence in Munich area with the acquisition of a 60,000 m[sup]2[/sup] property in Kirchheim. The financial details were not disclosed.
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PropertyEU Archive
Swiss Prime Site sells 2 assets for EUR 228m
Swiss Prime Site is divesting two commercial properties for a total of CHF 280 mln (EUR 228 mln). The listed real estate company said the disposals generate a gross profit of CHF 77 mln, given that the properties were booked at a combined fair value of CHF 203 mln at ...
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PropertyEU Archive
RREEF fund aims to invest EUR 650m in 2012
RREEF Real Estate, the real estate investment arm of Deutsche Bank's asset management division, is planning to invest around EUR 650 mln in real estate for its open-ended grundbesitz europa fund over the next 12 months, Ulrich Steinmetz, managing director of RREEF Germany, told PropertyEU.
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PropertyEU Archive
Orchard St acquires London office at 4.7% yield
UK investment manager Orchard Street has acquired the office property 61-65 Conduit Street in London W1 from Threadneedle Investments. The investment volume of £36 mln (EUR 42 mln) reflects a net initial yield of 4.7%.
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PropertyEU Archive
HB Reavis unveils EUR 60m investment in Croatia
HB Reavis has announced it is entering the Croatian market to develop a 34,000 m[sup]2[/sup] office tower in Zagreb. The Slovakian-headquartered CEE developer and fund manager said the investment is worth EUR 60 mln.
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PropertyEU Archive
BNP Paribas, GE Capital unveil major Paris project
BNP Paribas Real Estate and GE Capital have announced plans to carry out a major redevelopment of the Tours du Pont de Sèvres in the western Parisian district of Boulogne.
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PropertyEU Archive
IVG to use capital increase for cavern business
IVG Immobilien plans to raise EUR 145 mln in a capital increase to help finance the construction of pre-let and partially pre-sold oil and gas storage caverns. Germany's largest listed property company plans to issue 69 million new shares at EUR 2.10 per share.
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PropertyEU Archive
Prologis buys distribution centre in the Netherlands
Prologis, the global industrial property specialist, has acquired a 22,300 m[sup]2[/sup] distribution centre in the southern Dutch town of Waalwijk. The facility, located in Haven Zeven Industrial Park, is fully leased to logistics service provider Docdata Fulfilment.
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PropertyEU Archive
New tax rules will tarnish SIIC's shine, EPRA warns
The French listed real estate investment trust model or SIIC may lose its shine for international investors due to new taxation rules, the Chief Executive of the European Public Real Estate Association (EPRA) said on Wednesday. Since its creation in 2003, the SIIC model has attracted billions of euros of ...
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PropertyEU Archive
Fund managers face shakeout, Internos predicts
The worst is yet to come for the European real estate fund management industry, according to Andrew Thornton, CEO of Internos Real Investors. 'The next two years will bring an industry shakeout - 'meltdown' could be appropriate - in which the survivors will be those who go in strong and ...
