All Real Assets articles in Web Issue – Page 78
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PropertyEU Archive
APIA fund acquires office property in Aberdeen
Warner Estate Holdings and Morley Fund Management have announced the acquisition of St Magnus House in Aberdeen on behalf of the Apia Regional Office Fund from Stainton Capital for £23.7 mln (EUR 35 mln). The transaction reflects a net initial yield of 5.6%, increasing to 5.88% on completion of a ...
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PropertyEU Archive
AFI Development to launch London IPO
AFI Development has announced a price range of $10-$13 (about £4.98 and £6.48 or EUR 7.36 to EUR 9.57) per share for its initial public offer on London Stock Exchange. The company is offering 100,000 new shares in the form of global depositary receipts (GDRs), of which it has granted ...
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PropertyEU Archive
Dawnay Day Sirius to float on London's AIM
Dawnay Day Sirius, a real estate company established by Dawnay Day and Sirius Facilities to focus on German commercial real estate, is planning to raise up to EUR 300 mln of new equity through a share offer to institutional investors.
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PropertyEU Archive
Savills opens office in Hamburg
Property advisor Savills has announced the opening of a new office in Hamburg. The office is staffed by a 16-person team headed by Lars Breur, who recently relocated from Savills Berlin where he was director of investment. The company now has four offices in Germany.
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PropertyEU Archive
GE to buy EUR 1 bn of French assets in 2007
GE Real Estate is planning to invest more than EUR 1 bn in acquisitions of commercial properties across France this year, GE Real Estate France's president François Trausch said in a statement. GE Real Estate owns about EUR 5 bn of assets across the country and the company is targeting ...
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PropertyEU Archive
Dutch province buys HQ from CGI for EUR 111m
The province of South Holland has bought its headquarters in The Hague from German open-ended fund Commerz Grundbesitz-Investmentgesellschaft (CGI) for EUR 111.71 mln. The sale will come into effect on 1 April next year when the provincial authorities' lease on the building expires. The provincial authority investigated whether it was ...
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PropertyEU Archive
Poland to invest over EUR 19 bn before co-hosting Euro 2012
Poland plans to invest more than EUR 19 bn of European funds in its infrastructure in the lead up to the European football Championships in 2012, the Polish minister of infrastructure and building, Jerzy Polaczek, told the Central Europe Meeting Point property fair in Warsaw. Some EUR 10 bn will ...
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PropertyEU Archive
Inmocaral raises EUR 219m through share issue
Inmocaral Group is to issue shares for a total value of EUR 219.3 mln in a move aimed at facilitating the share swap agreed with Spanish peer Colonial. The property company will issue 52.46 million new shares at a price of EUR 4.18 per share.
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PropertyEU Archive
Macquarie CountryWide shops in Europe with EUR 351m retail buy
Australian REIT Macquarie CountryWide has acquired seven shopping centers in Germany and Poland for a total of EUR 351 mln in its first foray into Europe. This is the first major transaction for Steven Sewell, who was appointed ceo last September. Sewell said in a statement the company is planning ...
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PropertyEU Archive
Eiffage cancels voting right of 89 Spanish shareholders
The president of Spain's Sacyr-Vallehermoso, Luis Fernando de Rivero, and a large number of Eiffage's shareholders walked out of the company's annual general meeting after a decision to cancel the voting rights of 89 small Spanish shareholders of the group. The directors of Eiffage, owner of a 5% stake though ...
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PropertyEU Archive
Sparkassen changes acquisition strategy
Sparkassen Immobilien said it will increase the share of developments projects in the entire investment pipeline from the current 10% to 25-33%. The company will Carry out development projects across Central Eastern Europe, while acquiring standing assets solely in Austria and Germany. In Germany, the company will focus on residential ...
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PropertyEU Archive
MPs back development by Dutch 'REITs'
The lower house of parliament in the Netherlands has backed a proposal to allow tax-friendly property vehicles FBIs develop for their own account. FBI’s are the Dutch equivalent of a real estate investment trust (REIT). Under the legislation, which still has to be approved by the Dutch senate, FBIs would ...
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PropertyEU Archive
EBRD buys Belgrade mall
The European Bank for Reconstruction and Development (EBRD) is boosting its partnership with Globe Trade Center and will invest EUR 23.6 mln in a shopping mall in Belgrade, Italian news agency Ansa reported. The shopping mall, co-financed by Raiffeisen Zentralbank Oesterreich, will provide some 30,000 m[sup]2[/sup] of office and retail ...
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PropertyEU Archive
DnB NOR seeks to create 'largest Nordic broker'
Norwegian financial services group DnB NOR has put forward an offer to acquire the shares of Swedish real estate broker Svensk Fastighetsformelding for SEK $440 mln (EUR 47.8 mln). Noting that the board of the Swedish company is recommending the offer, DnB NOR said a takeover would create the ...
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PropertyEU Archive
Warburg-Henderson buys office-retail building in Scotland
Warburg-Henderson KAG has acquired an office and retail property in Glasgow's for its Pan-Europa Fonds Nr. 3. for around EUR 50 mln. The property at 95 Bothwell Street on an island site in the city's central business district was constructed in 1931. It provides 12,750 m[sup]2[/sup] of lettable space ...
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PropertyEU Archive
Scottish Widows buys London office
Scottish Widows Investment Partnership has acquired an office building in London through a joint venture with GE Real Estate UK and GraceMark Investments for £26.15 mln (EUR 38.6 mln). The 4,552 m[sup]2[/sup] property is located at 12 Norwich St. and 98 Fetter La and is leased to Associated Press until ...
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PropertyEU Archive
Polish Shopping Centre Fund develops three malls
The Polish Shopping Centre Fund is developing three Focus Park malls in the country and has seven other projects in the pipeline. The EUR 1 bn fund was established in November 2005 by Parkridge CE Retail and Morley Fund Management, which acted on behalf of the three Norwich Union Life ...
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PropertyEU Archive
JLL strengthens position in Dutch market with takeover
Jones Lang LaSalle (JLL) has shaken up the Dutch property advisors sector with the acquisition of local broker Troostwijk Makelaars. The new combination is by far the largest advisor in the Dutch investment market with a strong network of offices in the Randstad conurbation encompassing Amsterdam and Rotterdam. The move ...
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PropertyEU Archive
Lucette purchases Paris office for EUR 110m
France's Compagnie la Lucette has acquired the Atrium office building in Paris from the Allianz group for EUR 110 mln, French property newspaper Business Immo reported. The 12,000 m[sup]2[/sup] property is located in Place des Vins de France in the twelfth arrondissement of Paris. It is wholly let to the ...
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PropertyEU Archive
Societe de la Tour Eiffel invests EUR 16 mln in two French assets
Societe de la Tour Eiffel (STE) is investing about EUR 16 mln in the development of two sites across France. At Le Bourget Airport, 12 km northeast of Paris, the French property company has acquired a two-hectare site and will develop with Nexity Geprim 10,000 m[sup]2[/sup] of offices and business ...
