All Real Assets articles in Web Issue – Page 8
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PropertyEU Archive
Kungsleden acquires portfolio for EUR 187 mln
Swedish property company Kungsleden is acquiring a portfolio of Swedish properties worth SEK 1.7 bn (EUR 187 mln), the company announced Thursday. The portfolio consists of 24 properties and six site leaseholds with a total lettable area of around 190,000 m[sup]2[/sup]. The rental value is around SEK 172 mln (EUR ...
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PropertyEU Archive
Hypo RE reports 25% increase in pre-tax profits
The German commercial property lender Hypo Real Estate Group has reported a 25% increase in pre-tax profits. In figures released Wednesday, pre-tax profits for the first three quarters of 2006 were EUR 410 mln, an increase of around 25% over the same period in 2005, where pre-tax profits totalled EUR ...
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PropertyEU Archive
ING Real Estate pre-tax profits up 77%
Netherlands-based ING Real Estate has reported pre-tax profits of EUR 154 mln in the third quarter of 2006, a rise of 77% over the same period in 2005.
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PropertyEU Archive
L&G paysz £90 mln for LaSalle offices
Legal & General is to acquire 99 Gresham Street in the City of London for more than £90 mln from LaSalle Investment Management, Property Week reported. The 8,911 m[sup]2[/sup] six-storey building is diagonally opposite the Bank of England. The price reflects a net initial yield of around 4.3%. LaSalle acquired ...
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PropertyEU Archive
HSH N Real Estate sells Dresden apartment portfolio
HSH N Real Estate has sold a portfolio of apartments in the eastern German city of Dresden to a joint venture between Morgan Stanley Real Estate Funds (MSREF) and Arsago Real Estate for EUR 71.2 mln. The portfolio comprises a total of 1,887 residential units with a total lettable area ...
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PropertyEU Archive
LaSalle launches new German commercial property fund
LaSalle Investment Management has launched a new fund called German Income & Growth Venture which is to invest in German commercial property. The total investment volume will be around EUR 1 bn. The fund already has EUR 250 mln capital from institutional investors from North America and Europe. The fund ...
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PropertyEU Archive
Commerz Grundbesitz signs French development deal
Germany-based Commerz Grundbesitz-Spezialfondsgesellschaft (CGS), a subsidiary of Commerz Grundbesitz Group (CGG), has signed the deed for the logistics property Toussieu 2 in Lyon, France, the company announced Thursday.
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PropertyEU Archive
WCM files for insolvency over loan crisis
German real estate company WCM Beteiligungs- und Grundbesitz has filed for insolvency after HSH Nordbank terminated a €200 mln loan agreement.
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PropertyEU Archive
New Spanish group will have EUR 8-10 bn in assets
Spain's Inmobiliaria Colonial will have assets of EUR 8-10 bn when the merger with Grupo Inmocaral is finalised, Spanish business paper 'Expansion' has reported chairman Luis Portillo Munoz as saying. Grupo Inmocaral, which focuses mainly on business parks, office buildings and commercial premises located in Madrid and Barcelona, took over ...
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PropertyEU Archive
Kenmore snaps up EUR 70.19 mln worth of industrial properties
Real estate investment company Kenmore Euro Industrial Fund has announced the acquisition of seven industrial and warehouse buildings in Germany, France, Sweden and Norway for a total of EUR 70.19 mln (£47.2 mln). The transaction, which generated a combined yield of 8%, was the first by fund since it raised ...
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PropertyEU Archive
Riofisa to invest EUR 215 mln in Bulgarian mall
Riofisa, the Spanish shopping centre developer, is to invest EUR 215 mln in the company's 2nd shopping and entertainment project in Bulgaria. The 90,000 m[sup]2[/sup] centre with 2,600 parking spaces will be built in Bulgaria's second city Plovdiv, as part of a large development which includes a hotel, offices and ...
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PropertyEU Archive
Sweden's Castellum acquires properties for EUR 48 mln
Castellum, the Swedish listed real estate company, has announced the acquisition of two properties for EUR 20.6 mln. The first acquisition, costing EUR 5.2 mln, is in Hagalund industrial estate in Solna. It has 1,400 m[sup]2[/sup] of office space and 2,300 m[sup]2[/sup] of warehouse and industrial space. The second ...
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PropertyEU Archive
Behringer Harvard and HCI acquire Dutch office portfolio
American real estate investment company Behringer Harvard and Hamburg-based HCI Capital have announced their second acquisition in the Netherlands as part of their alliance to co-invest up to $1.3 bn (EUR 1.1 bn) in European real estate. They bought a portfolio of seven offices with a total floor space of ...
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PropertyEU Archive
Grosvenor acquires retail property in central Paris
International property group Grosvenor and France's Solal Conseil & Developpement (SCD) have jointly acquired a retail property on the busiest section of the Rue de Rivoli in the 1 arrondissement in Paris for EUR 16 mln. The premises is rented by Us clothing retailer Gap. Grosvenor said the transaction strengthens ...
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PropertyEU Archive
Henderson tops Allianz bid for Laing
UK Construction company Henderson Infrastructure (HIH) has risen to the challenge laid down by Allianz in October and trumped the German insurer's bid for UK project manager John Laing with an £1.004 bn (EUR 1.49 bn) offer that includes preference shares. HIH, a division of fund manager Henderson, said ...
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PropertyEU Archive
CA Immo in final stages in bidding for Hesse portfolio
Austrian real estate investment company CA Immo has confirmed it is in the final stages of the bidding process for the 'Leo II' portfolio of properties in the German state of Hesse. The portfolio consists of 36 state-owned properties which are to be sold in a sale-and-lease-back agreement. The ...
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PropertyEU Archive
Spanish firms seek rich pickings in the east
Cash-rich Spanish real estate developers are looking to take the lead in house building in central and Eastern Europe, partly as insurance against the possible slowing of the impressive growth in the home market.
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PropertyEU Archive
Retailers queue up for Mapic trade fair
Days before Mapic 2006 opens its doors in the French Riviera city of Cannes, the organisers of the international retail trade fair have reported over 8,000 delegates have registered to attend. This is a 19% increase compared with last year. The number of companies exhibiting at the event has risen ...
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PropertyEU Archive
Slough Estates acquires portfolio for EUR 103 mln
Slough Estates International has reached agreement with Antalis, the European communication media and paper distributor, to acquire a portfolio of about twenty logistic and business properties in Europe. The total transaction value is EUR 103 mln and the net annual income generated by the portfolio will be greater than EUR ...
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PropertyEU Archive
PREF fund to buy European retail parks for EUR 153 mln
PREF, a closed-ended fund in which British Land is a key investor, has announced that it has contracted to purchase three European retail parks with a combined value in excess of EUR 153 million.
