All Real Assets articles in Web Issue – Page 80
-
PropertyEU Archive
Astroc recovers amid lingering worries for Spanish property market
A steep decline in Astroc Mediterraneo's share price last week has added fuel to concerns that Spain's 10-year real estate boom may be coming to an end. Astroc fell 43% last Wednesday, wiping EUR 2.3 bn from its market value, in the wake of disappointed with the company's figures for ...
-
PropertyEU Archive
Commerz Grundbesitz buys Carrefour warehouse in Belgium
German fund Commerz Grundbesitz-Spezialfondsgesellschaft (CGS) has signed a sales contract to acquire a logistics property in Belgium for approximately EUR 54 mln. The property comprises 11 warehouses with about 75,000 m[sup]2[/sup] of logistics space near Brussels, and is fully let to French retail group Carrefour. The warehouses were built between ...
-
PropertyEU Archive
Buchanan Galleries set for major extension
Buchanan Partnership, a joint venture between Henderson Global Investors and Land Securities, has submitted planning application to Glasgow local authority to extend the existing Buchanan Galleries mall with an additional 65,000 m[sup]2[/sup] of retail space.
-
PropertyEU Archive
Vib Vermogen buys German mall
Vib Vermogen has acquired a shopping mall in Gersthofen near Augsburg in south-central Germany for EUR 14.1 mln. The property, which is fully let, will generate an annual rental income of about EUR 1 mln, the company said in a press release. This corresponds to a rental yield of 7.1% ...
-
PropertyEU Archive
Sacyr rules out making cash offer for Eiffage
Spain's Sacyr Vallehermoso is not planning to launch a cash offer for Eiffage, chairman Luis del Rivero told French business radio BFM on Friday. Rivero said that the company's all-share bid is 'the best offer for everyone'. The statement comes in the wake of rumours that Eiffage was looking for ...
-
PropertyEU Archive
Pension fund to tender Rodamco shares
Dutch pension fund PGGM has committed itself to vote in favour of the merger between French property company Unibail and Rotterdam-based Rodamco Europe. PGGM is the largest shareholder in Rodamco with about 25% of the shares. It has agreed to tender the shares into the intended exchange offer.
-
PropertyEU Archive
Healthy Q1 take-up squeezes City supply
The City of London is experiencing its lowest level of office supply since 2001, according to the latest Central London Market report issued by international advisor Jones Lang LaSalle. The opening three months of 2007 saw almost 92,903 m[sup]2[/sup] of existing space taken off the market, with a further 167,225 ...
-
PropertyEU Archive
100 Bishopsgate gets green light
Great Portland Estates (GPE) has received resolution to grant planning permission from the City of London for its proposed development at 100 Bishopsgate. Designed by leading British architects Allies and Morrison, the proposed scheme is a comprehensive masterplanning of the site to provide three new buildings covering some 75,715 m[sup]2[/sup]. ...
-
PropertyEU Archive
Africa Israel buys Budapest plot for EUR 105m
Africa-Israel's European unit has signed a memorandum of understanding to buy a 81-acre plot of land in Budapest for EUR 105 mln. The company, controlled by billionaire Lev Leviev, is planning to build a 506,000 m[sup]2[/sup] multi-use project on the site, Africa Israel Properties stated.
-
PropertyEU Archive
Carrefour portfolio's valuation of EUR 20bn is 'cautious'
Carrefour was being cautious when it valued its property portfolio at EUR15bn-EUR20bn, ceo Jose Luis Duran told the Financial Times on Monday. The statement comes on the back of Thomas Barrack's claim that the French retailer has assets worth more than EUR30 bn. The founder of Colony Capital said that ...
-
PropertyEU Archive
Colonia Real Estate to raise EUR 200m
Colonia Real Estate said it will raise about EUR 200 mln through a share issue. The details of the capital increase will be determined and published shortly prior to the transaction. The capital increase is set to be completed in the first half of 2007, the company said.
-
PropertyEU Archive
Fimit buys Forte Village for EUR 218m
Capitalia's Fondi Immobiliari Italiani (Fimit) is acquiring Europe's largest holiday resort complex - the Forte Village - in Santa Margherita di Pula near Cagliari, Italy, for EUR 218 mln. The two companies agreed in February on the deal, whose amount had not been disclosed. Global investment bank Lehman Brothers is ...
-
PropertyEU Archive
Neinver to develop EUR 300m industrial park
Neinver has acquired a 210,000 m[sup]2[/sup] plot of land with 140,000 m[sup]2[/sup] of building rights in Madrid's Vicalvaro district. The company is planning to develop an industrial park on the site with an investment of EUR 300mln. This is the last plot within the city of Madrid which is to ...
-
PropertyEU Archive
Dunedin Property sells The Stones for £35m
Dunedin Property has sold The Stones at South Gyle Business Park, Edinburgh, for £35.54 mln (EUR 52 mln). Jones Lang LaSalle (JLL) acted as advisor for the seller. The trio of buildings, which are occupied by the Royal Bank of Scotland, have been purchased by Premier Diversified Property Fund at ...
-
PropertyEU Archive
Eurohypo closes latest deal in EUR 8.7 bn CMBS programme
Frankfurt-based real estate bank Eurohypo has issued EUR 550 mln of commercial mortgage backed securities (CMBS). The transaction is Eurohypo's 3rd under its programme Opera Germany and the 15th under the overall Opera programme, which has a total issuance volume of EUR 8.7 bn.
-
PropertyEU Archive
Meinl Airports IPO raises EUR 700m
Meinl Airports has raised EUR 700 mln in an Initial Public Offer (IPO) aimed to fund acquisitions. Meinl Airports offered 70 million shares at a price of EUR 10 each. The offering period ended last Friday. The shares will be listed on the Third Market of the Vienna Stock Exchange ...
-
PropertyEU Archive
Aaronson named new ceo of Multi Corporation
Glenn Aaronson of Morgan Stanley Real Estate has been appointed the new ceo of Dutch-based property company Multi Corporation. He replaces Arnold de Haan who announced last month he will step down at the end of May this year. Aaronson will be responsible for overseeing the company's day-to-day operations in ...
-
PropertyEU Archive
XXI Century acquires Ukrainian mall
XXI Century Investments has acquired a 70% stake in a retail and entertainment development in Crimea, southern Ukraine. The developer is planning to develop a 33,750 m[sup]2[/sup] shopping centres on the 11.3-acre site. Construction is expected to begin in early 2008 with completion scheduled for 2009. This is the first ...
-
PropertyEU Archive
Fonciere Inea buys seven French assets
Fonciere Inea has acquired seven buildings mainly for office use for about EUR 21 mln, representing a yield of 7.4%. The properties cover a combined area of 10,980 m[sup]2[/sup].
-
PropertyEU Archive
Two Portuguese builders to merge
Two Portuguese builders are set to create one of the four biggest construction groups in the country. Grupo Lena and Construtora Abrantina are planning to merge their activities in a conglomerate with sales estimated at about EUR 600 mln in 2007, news agency Thomson Financial reported, citing weekly Expresso. Officials ...
