All Real Assets articles in Web Issue – Page 81
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PropertyEU Archive
Danish investor buys Ludwig-Erhard-Center
Danish pension fund KP International has entered the German property market with the purchase of the Ludwig-Erhard-Center in Dusseldorf city centre from an unnamed Dutch company for a little over EUR 30 mln. The Ludwig-Erhard-Center was completed in 1992 and offers around 11,500 m[sup]2[/sup] of net space spread over 16 ...
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PropertyEU Archive
Property stocks offer good diversification - EPRA
Property stocks offer good diversification benefits across a range of major investment asset classes, but appear to be particularly interesting to investors in government bonds, according to a major correlation study commissioned by Amsterdam-based European Public Real Estate Association (EPRA). 'Correlation, or to be more precise lack of correlation, lies ...
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PropertyEU Archive
Oaktree to sell German properties as REIT
Oaktree is planning to sell its German property holdings as a real estate investment trust (REITs) this year, daily Financial Times Deutschland has reported. The company is currently analyzing the new German law on the investment vehicles to decide on the share sale. Germany introduced its own legislation on real ...
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PropertyEU Archive
DSV selects Macquarie to develop a 49,000 m[sup]2[/sup] distribution centre
DSV Solutions, a supplier of transport and logistics services, has selected Macquarie Goodman European Logistics (formerly Eurinpro), to develop a 49,000 m[sup]2[/sup] distribution centre in the Dutch city of Venlo. Construction is scheduled to start in July and end in March 2008.
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PropertyEU Archive
Dawnay Day Carpathian to raise £ 100m in share offer
Dawnay Day Carpathian is planning to raise £100 mln (EUR 147 mln) in a share offer to fund more acquisitions. The company will sell 83.3 million shares at £1.20 each, the company stated, conditional on approval of the plan by shareholders. A vote on the issue is scheduled for 17 ...
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PropertyEU Archive
Jernhusen sells Stockholm assets for EUR 140m
Swedish government-owned company Jernhusen has signed an agreement with Norwegian company DnB Nor Markets to sell the properties Stockholm Blekholmen 3 and 5 'Klarabergshuset' for SEK 1.3 bn (EUR 140 mln). The price reflects a yield of 4.46%, which is a record low in the Swedish market, the company said ...
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PropertyEU Archive
Aberdeen launches property fund for France, spends EUR 200m in la Defense
Aberdeen Property Investors has announced the establishment of a new fund focusing on France and Southern Europe, in line with its strategy to become a leading fund and asset manager in the French market. The fund's first investment is the acquisition of CB 16, a landmark office building in la ...
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PropertyEU Archive
Fonciere des Murs buys garden centres for EUR 242m
Fonciere des Regions' subsidiary Fonciere des Murs has signed a sale-and-leaseback agreement to acquire a portfolio of 57 garden centres operated by the Jardiland group for EUR 242 mln including taxes and expenses. The assets, which represent two thirds of Jardiland's sites, are spread throughout the country.
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PropertyEU Archive
40% of Zlota 44 apartments sold in one night
Forty percent of the remaining 125 apartments at Zlota 44 building were sold on Tuesday during an exclusive cocktail party organized at Le Regina Hotel in Warsaw. The event launched the second phase of project sales for Orco Property Group.
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PropertyEU Archive
Skanska to invest EUR 67m in Poland and Czech Republic
Skanska is starting three new commercial development projects in Central Europe. In Warsaw, the company has started the second phase of the Marynarska Point office building, which will involve an investment of about EUR 32.6 mln. The property comprises about 14,000 m[sup]2[/sup] and is located in the Mokotov business district. ...
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PropertyEU Archive
Astroc's fall drags down Spanish real estate market
Astroc Mediterraneo is leading the way of what has been described as 'the end of Spain's 10-year real estate boom'. Atroc's share price gained more than 1000% since the company was listed on the Madrid stock exchange in June last year, but its shares plummeted as much as 37% on ...
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PropertyEU Archive
Yukos HQ being auctioned off
The former head office of Russian oil company Yukos in Moscow will be put up for auction at the beginning of May. The current owner of the building is Yukos' subsidiary Dubininskoe. The 20-storey, 24,560-m[sup]2[/sup] building was completed in 2003 and is managed by CB Richard Ellis Noble Gibbons, website ...
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PropertyEU Archive
British Land to sell off stakes in Meadowhall
British Land has said it is looking for partner investors for its £1.7 bn (EUR 2.5 bn) Meadowhall shopping centre in Sheffield, central England. The company said in a statement it intends to remain the largest individual investor and will also act as fund and property asset manager. The Financial ...
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PropertyEU Archive
Redevco to develop business centre in Turkey
Redevco is planning to invest some EUR 45 mln in the development of a business center in Erzurum, western Turkey, newspaper Turkish Daily News reported. Construction of the complex will start in June with delivery scheduled for the first quarter of 2009, the daily said. The 85,000 m[sup]2[/sup] complex will ...
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PropertyEU Archive
Sacyr, Eiffage saga continues
Sacyr Vallehermoso took a full-page advertisement in French daily La Tribune Tuesday to say that its managers are ready to meet with Eiffage's employee representatives. The meeting would aim to clarify the company's position with regards to EIffage and discuss plans for the development of the French group, news agency ...
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PropertyEU Archive
Summit shops in Germany
Israeli listed company Summit Real Estate Holdings is buying a number of income-producing properties in Germany for NIS 213 mln (EUR 52 mln). The purchases are being made through German companies in which Summit owns a 95% stake.
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PropertyEU Archive
Keops sells two Swedish properties
Keops said on Tuesday it has agreed to sell two Swedish properties to the British investment fund Lathe Investments for SEK 680 mln (EUR 73.9 mln). The sale comprises a shopping centre in Borlänge as well as the ferry terminal building, Knutpunkten, in Helsingborg, the southernmost part of Sweden. Completion ...
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PropertyEU Archive
TAG acquires commercial properties for EUR 40m
German property company TAG Tegernsee has acquired a portfolio of four commercial properties for EUR 40 mln. The portfolio, including two office and two commercial assets, has a gross lettable area of 21,000 m[sup]2[/sup]. The properties are located in Nuremberg and Hamburg. The vendor was not named. The transaction represents ...
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PropertyEU Archive
Hypo RE to finance British Ability Group
Hypo Real Estate Group will provide finance to the British Ability Group to set up a German retail portfolio, the bank said on Wednesday. Hypo will provide a credit line of EUR 100 mln. Ability Group will look for investment opportunities in Germany, where it has already purchased six supermarkets ...
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PropertyEU Archive
Banuelos speaks out over Spanish market's fall
Enrique Banuelos, chairman of Spanish real estate company Astroc, said during a press conference in Madrid that the steep fall of Astroc's share price was mainly a consequence of the 'tremendous' revaluation of the company's stock over the last twelve months. Astroc's share price has gained more than 1000% since ...
