All Real Assets articles in Web Issue – Page 84
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PropertyEU Archive
Metrovacesa to acquire HSBC head office for record EUR 1.6 bn
Spanish property company Metrovacesa is to acquire the global head office of HSBC bank at Canary Wharf in London for £1.09 bn (about EUR 1.59 bn), the largest single property deal in UK history.
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PropertyEU Archive
Electra RE buys in Frankfurt for EUR 100m
Electra Real Estate and Kamor have purchased 70% of a luxury office building in Frankfurt for EUR 200 mln, plus EUR 17 mln in related costs. Electra Real Estate has acquired 60% of the property through a wholly-owned subsidiary.
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PropertyEU Archive
Inrev predicts cooling off from 2006's 'stellar' returns
European non-listed institutional real estate funds achieved average total returns of 20.9% in 2006, according to the European association for investors in the funds (Inrev). 'This is a very high investment return. One would expect the median long-term figure for the industry to be somewhere in the range of 10% ...
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PropertyEU Archive
Dawnay Day Sirius raises EUR 272m in share issue
Dawnay Day Sirius has raised about EUR 272 mln in a share issue. The company, established by Dawnay Day and Sirius Facilities to acquire mixed-use commercial real estate, has sold 272 million ordinary shares at a price of EUR 1 per share. The market capitalisation based on the offer price ...
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PropertyEU Archive
Kungsleden sells properties for EUR 66m
Listed Swedish property company Kungsleden is selling four properties in Malmo, and one in Vasteras, west of Stockholm, to Oslo-based NLI Eiendomsinvest. The sales price is SEK 605 mln (EUR 66 mln), SEK 85 mln (EUR 9.3 mln) above book value. The property yield calculated on sales price is just ...
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PropertyEU Archive
Aedes buys 85% of Unicenter
Aedes Group's subsidiary Agora has acquired 85% of Unicenter, a shopping centre manager active in Northern Italy, for EUR 1.9 mln. The transaction price values Unicenter at EUR 2.2 mln. Unicenter specialises in the management of shopping centers, commercial parks and factory outlets. Unicenter was established in 1999 by Chairman ...
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PropertyEU Archive
Inrev appoints PGGM's Van der Ende as new chairman
The European association for investors in non-listed real estate vehicles (Inrev) has appointed Johan van der Ende as its new chairman. Van der Ende (48) is chief investment officer for strategy and structured investments at Dutch pension fund PGGM, which has real estate assets under management of about EUR 12 ...
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PropertyEU Archive
Winners of the Commercial Real Estate Moscow Awards
The winners of the 4th Commercial Real Estate Moscow Awards held at the Expocentre in the Russian capital are as follows: Office real estate
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PropertyEU Archive
Barwa shops in Belgium and Switzerland
Qatari Barwa Real Estate is to develop seven hotels in Switzerland and Belgium at a cost of $128.7 mln (EUR 94 mln) through a joint venture with Luxembourg's Rosbud Hotels Holding and Banque de Patrimoines Prives Geneva (BPG). On completion of the developments in 2010, Barwa may sell the properties, ...
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PropertyEU Archive
Cefin to develop Bucharest's highest tower
Cefin Holding's subsidiary Cefin Real Estate Romania is to develop the highest tower in the Romanian capital city of Bucharest. The project includes a 36-storey 125-metre office building, retail space and a five-start hotel, Romanian newspaper Ziarul Financiar reported. The development will involve an investment of about EUR 220 ...
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PropertyEU Archive
Italian REIT comes a step closer
Italian deputy economics minister Vincenzo Visco has signed the enacting decree facilitating the creation of SIIQs, the Italian equivalent of real estate investment trusts. The Italian state council still has to take the final hurdle, Italian newspaper IlSole24Ore reported. It is expected that the SIIQ regime will become operational by ...
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PropertyEU Archive
Due diligence protocol 'to cut costs' for property investors
The European Association for Investors in Non-Listed Real Estate Vehicles (Inrev) has said the new Due Diligence Protocol for non-listed institutional real estate funds launched last week could significantly cut costs and bureaucracy for European property investors and fund managers alike, by establishing an industry-wide standard for this key part ...
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PropertyEU Archive
Pisa set to house two new towers
Two new towers are set to join the classic leaning tower of Pisa by 2012: the Italian developer Bulgarella is planning to start the development of two high-rise projects in June 2007. In the south-eastern Ospedaletto districts, the company intends to build a 57-metre tower, which was designed by architect ...
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PropertyEU Archive
PMM Parnters launches 2nd German property fund
UK-based property advisory group PMM Partners has launched its second German Property fund, Phoenix Spree Deutschland. The fund will raise up to £50 mln (EUR 73.5 mln) to invest in German residential and commercial property. It will be domiciled in Jersey and will be listed on the Channel Islands Stock ...
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PropertyEU Archive
Direct Wonen raises about EUR 60m in London
Direct Wonen, a leading residential property letting agent in The Netherlands, has announced that its shares have been admitted to trading on the AIM market in London. The company issued some 32,275,684 new ordinary shares at a price of 137 pence per share, raising about £40 mln (EUR 60 mln) ...
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PropertyEU Archive
Hypo RE provides EUR 726m facility for Milan complex
Hypo Real Estate Bank International and Intesa Sanpaolo have jointly arranged a EUR 726 mln refinancing and development facility for Milano Santa Giulia Residenze, a special purpose vehicle owned by the Italian listed real estate company Risanamento.
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PropertyEU Archive
ING RE acquires shopping centre in Slovakia
ING Real Estate Investment Management is entering Slovakia with the purchase of the Europa Shopping Center in the central Slovak town of Banska Bystrica. The centre will be added to ING Real Estate Property Fund Central and Eastern Europe (ING PFCEE), which was launched in December 2006.
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PropertyEU Archive
Stock exchange adjusts rules for Italian REITs
Italy's main stock market Borsa Italiana has updated its rules of admission for real estate companies and SIIQs, the Italian equivalent of real estate investment vehicles (REITs).
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PropertyEU Archive
Rutley European Property buys in Sweden
Rutley European Property is acquiring a Swedish property portfolio for SEK 1 bn (EUR 109.7 mln), reflecting a gross initial yield of 5.85%. The portfolio comprises five offices in the centre of Karlstad, mid-western Sweden, with a total area of 72,614 m[sup]2[/sup]. The assets are 96.5% let to a wide ...
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PropertyEU Archive
Spain tops ranking of new shopping centre space
More than 17 million m[sup]2[/sup] of new shopping centre space is due to open in Europe this year and next, according to the latest biannual edition of the European Shopping Centres Report by property advisor Cushman & Wakefield.
