All Real Assets articles in Web Issue – Page 77
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PropertyEU Archive
Intesa to sell EUR 300m property assets
Italian bank Intesa Sanpaolo is planning to sell property assets valued at some EUR 300 mln in the coming two to three years, the lender said in a statement. The disposals are part of Intesa's 2007-2009 plan, aimed at optimising the management of its EUR 6 bn property portfolio. The ...
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PropertyEU Archive
Africa Israel takes majority stakes in 4 German property firms
Africa Israel's European division has agreed to purchase 70% of four German companies with assets valued at EUR 97 mln. The companies' portfolio comprises 35 real estate assets for residential and commercial use in Berlin and in the Dusseldorf region. The total annual rent comes to EUR 7.8 mln.
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PropertyEU Archive
Meinl Airports raises IPO volume to EUR 700m
Austria's Meinl Airports International has raised the volume of its Initial Public Offering (IPO) on the Third Market of the Vienna Stock Exchange from EUR 500 mln to EUR 700 mln. Private and institutional investors can subscribe to the new shares until 27 April 27, 2007 for EUR 10 per ...
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PropertyEU Archive
E-Plus picks Dusseldorf airport for new HQ
German telecommunications company E-Plus plans to build its new German headquarters in the Quartier N business district at Dusseldorf airport. The 30,000 m[sup]2[/sup] premises is due for completion at the end of 2008. E-Plus is the third company to move into Quartier N after retailer C&A and software company CapGemini. ...
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PropertyEU Archive
Challenger Diversified buys six French assets
Property group Challenger Diversified has invested EUR 55.5 mln in the purchase of six industrial and retail properties in France. The properties include five distribution centres and a retail warehouse around Paris and in southern France. The deal will be funded using existing debt facilities, the company said.
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PropertyEU Archive
Trump Towers await invitation to Europe
American real estate tycoon Donald Trump has said he may expand his Trump Towers brand to the Netherlands and other European cities, if the right partners approach him. 'Come with a good plan and I will come to the Netherlands,' Trump told PropertyEU.
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PropertyEU Archive
NH Hoteles won't increase bid for Jolly chain
NH Hoteles said its Grande Jolly unit will not increase its bid for Jolly Hotels. 'It's the most generous offer made in Italy in the last two years,' NH Hoteles' ceo Gabriele Burgio is quoted as saying in Italian newspaper Il Sole 24 Ore. Burgio was responding to market rumours ...
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PropertyEU Archive
Nexity mulls bid for Cogedim
French real estate company Nexity is interested in buying rival real estate group Cogedim. 'I can confirm that we are having strategic thoughts over Cogedim. It is to be expected that a property company would be interested in it, and we are looking at it,' Nexity's chairman and ceo Alain ...
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PropertyEU Archive
Enstar Capital shops in Germany
London-based real estate investor Enstar Capital is strengthening its presence in Germany with the purchase of a supermarket in the northern district of Laboe. The deal reflects an annual net yield of 7.5%. The supermarket is leased to Coop Schleswig-Holstein, German newspaper Immobilien Zeitung reported. Enstar said it is planning ...
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PropertyEU Archive
IKB expands in Italy
IKB Deutsche Industriebank has added a new division dedicated to real estate financing in Italy. The new division will concentrate on the structuring and developing of real estate financing related to both the acquisition of existing properties and developments. The office, headed by Antonio Biggi, will also work to promote ...
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PropertyEU Archive
AIB Capital Markets to raise up to EUR 150m for Polish property
Dublin-based AIB Capital Markets (AIBCM) intends to raise EUR 100 mln to EUR 150 mln from pension funds and private investors for investment in property in Poland. The capital raised will be leveraged on a 3:1 basis which will facilitate total acquisition financing of EUR 600 mln.
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PropertyEU Archive
Iberdrola purchases EUR 150m land in Seville
Iberdrola Inmobiliaira, the property arm of Spain's energy company Iberdrola, is investing EUR 150.3 mln in the southern Spanish city of Seville to buy and develop some 1 million m[sup]2[/sup] of land. Iberdrola said in a press release it will use 65% of the land for industrial and storage activities ...
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PropertyEU Archive
Evans Randall buys Amsterdam office development for EUR 165m
London-based private investment banking group Evans Randall has bought an office property under development in Amsterdam's Zuidas business district for EUR 165 mln.
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PropertyEU Archive
5-20 listed property firms may become G-REITs
Degi, the investment arm of insurer Allianz, rates 10 German property companies and eight private equity investors as potential candidates for tax-investment real estate investment trusts (REITs). So far, no REITs at all have been launched in Germany since the introduction of the legislation at end-March.
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PropertyEU Archive
Portillo spends EUR 204m on Eiffage stake
Luis Portillo, chairman and majority shareholder of Inmoracal-Colonial, has acquired 2% of Eiffage for EUR 204 mln. Portillo has become the third-biggest Spanish shareholder in the French construction group, whose board is polarized in two axes said to represent rival Spanish and French interests.
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PropertyEU Archive
Croatian gulf gets EUR 204m
Public and private investors are investing EUR 204 mln in the Croatian gulf of Kvarnerski Zaljev in a major move to boost tourism in the region. The local municipalities and hotel owners are joining forces to develop and renovate hotel facilities as well as existing roads in the area. In ...
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PropertyEU Archive
3i pulls out of Foxtons bidding
Buy-out firm 3i has pulled out of the auction to acquire Foxtons, London's largest estate agent, the Times newspaper reported in its online edition. The private-equity group made a first offer in February for Foxtons, which was put on the market with a price tag of £400 mln (EUR 590 ...
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PropertyEU Archive
Orco begins preparatory work for Zlota 44
Orco Property Group has begun preparatory work for the demolition of the City Center shopping centre in Warsaw to make way for Zlota 44, a new luxury apartment building. The company expects the demolition work will take between four to five months.
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PropertyEU Archive
Olympic Properties gets 5 bids for Greek sports centre
Five consortia have bid for the management of the Olympic sports centre in Agios Kosmas, Greece, which hosted the sailing events at the 2004 Summer Olympics in Athens. The winning group will be awarded management of the site for 45 years. The centre provides some 8,945 m[sup]2[/sup] of buildings, a ...
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PropertyEU Archive
Locindus sells 51% stake in SIICInvest to Icade
French construction company Icade has raised its offer to take over a 51% of SIICInvest from EUR 2.71 to EUR 2.78 per share, valuing the company at about EUR 82.5 mln. Icade in November signed an agreement with Credit Foncier de France to acquire control of SIICInvest. Credit Foncier de ...
