All Real Assets articles in Web Issue – Page 86
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PropertyEU Archive
Italian fair expects record 15,000 participants
The third edition of Expo Italia Real Estate (EIRE) will open its doors this month in the new fair complex near Milan. From 22 to 25 May, the curvilinear forms of Fuksas' 35,000 m[sup]2[/sup] exhibition centre will be home to what the organisers claims is the 'most important event of ...
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PropertyEU Archive
Befimmo H1 rental income up 28.2% at EUR 48.6m
Befimmo has reported net rental income for the six months to 31 March rose by 28.2% to EUR 48.6 mln. The Belgian property firm said the acquisition of 90% of the shares in peer company Fedimmo, effective 28 December 2006, accounted for EUR 9.6 mln of the increase. Excluding Fedimmo, ...
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PropertyEU Archive
Kenmore buys Dutch portfolio for EUR 135m
Kenmore Property Group is acquiring the Landmark Portfolio from White Estate Investments on behalf of its fund MK Capital for a net price of about EUR 135 mln. The portfolio comprises 14 properties located mainly in the Randstad area of central Holland, including Amsterdam, Utrecht, Breda and Amersfoort. The assets ...
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PropertyEU Archive
AZL Vastgoed Kantoren sells EUR 290m portfolio
Dutch company AZL Vastgoed Kantoren is selling its entire property portfolio to a consortium of funds managed and advised by Axa Reim for EUR 290 mln, excluding costs. The portfolio includes 58 office properties located across the Netherlands. The assets are expected to generate an annual net income of EUR ...
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PropertyEU Archive
Allianz signals EUR 3.5bn property sale
Allianz intends to sell EUR 3.5 bn of its real estate assets, about half of its German property portfolio, to fund acquisitions in property markets abroad, Dirk Grosse-Wördemann, head of Allianz's property business, told business newspaper the Financial Times. Europe's biggest insurance company is planning to reinvest the capital in ...
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PropertyEU Archive
Investors spurn secondary assets
Jones Lang LaSalle's Q1 property Style Index has borne out the forecast of lower yields in 2007. Total property returns in the first quarter dipped to 2.3%, the lowest level since the second quarter of 2003. The index revealed a major gap in the performance of high-yielding secondary (value) properties ...
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PropertyEU Archive
Codic Belgium sells Bruxelles building
Codic Belgium has announced that it has sold the Ellipse building in Brussels to AB CPFM Real Estate V for an undisclosed amount. Ellipse is a 2,037 m[sup]2[/sup] office premises at the entrance of the Ikaros Business Park in Chaussée de Louvain. The building is let to Kyocera Mita Belgium ...
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PropertyEU Archive
British Land's gets go-ahead for Ropemaker project
British Land has received planning approval for its Ropemaker office development located on a 1.2 acre site in the City of London. The company acquired the site in March 2006 for £130 mln (EUR 190 mln) with planning consent for a 46,916 m[sup]2[/sup] development. British Land chose to revise the ...
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PropertyEU Archive
Prologis to build Zaragoza distribution centre
Prologis is to develop a 48,000 m[sup]2[/sup] distribution centre in northeast Spain for a subsidiary of ARC International, the world's largest supplier of high-quality tableware. ProLogis expects to begin construction of the distribution center in Zaragoza next June.
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PropertyEU Archive
Buy-to-let surge 'danger to urban regeneration'
The growing buy-to-let trend in the residential sector is endangering attempts to rebuild Britain's city centres, Sunderland Arc ceo Tom Macartney claimed in the Financial Times. Sunderland Arc is a public-private group set up to regenerate run-down inner city areas.
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PropertyEU Archive
Ogmios Centras develops Vilnius centre
Lithuanian real estate company Ogmios Centras is to develop a new 30,000 m[sup]2[/sup] commercial and industrial centre in the Lithuanian capital of Vilnius. The investment value will come to more than EUR 25 mln. Completion is expected in the summer of 2008.
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PropertyEU Archive
Cofinimmo extends its office portfolio
Belgian real estate company Cofinimmo has announced the conclusion of three transactions valued at EUR 137 mln that add over 50,000 m[sup]2[/sup] to its office portfolio. The average initial rental yield aimed will amount to circa 6.30%.
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PropertyEU Archive
London court rules in favour of landlords
A ruling by a judge in London’s High Court is likely to prevent billions of euros being wiped off the value of the property industry. The court ruled that the use of a particular insolvency procedure would unfairly undermine landlords’ rights to receive rent from tenants. The ruling in a ...
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PropertyEU Archive
Eurohypo finances Draco/Davy's London investment
Eurohypo is providing financing for the acquisition by investor Draco and its partner Davy of an office building for £90 mln (EUR 123 mln). The two companies have teamed up to acquire the 10,680 m[sup]2[/sup] Brettenham House, which overlooks Waterloo Bridge in London. The new venture wants to refurbish part ...
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PropertyEU Archive
Savills Rome office move makes way for expansion
Property advisor Savills has relocated its Rome office to Via Barberini 67 in the Italian capital city this month to make way for further expansion. The Rome office, which is run by Marco Fusari as director of the investment agency team, works alongside Savills' Milan operation. The new premises ...
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PropertyEU Archive
UK local authorities to sell £10 bn assets
UK local authorities in Sunderland, Newcastle and Birmingham are planning to sell real estate shares to developers, the Sunday Telegraph reported, citing property consultants and the Birmingham City Council. The sale would place assets worth some £10bn partly in private hands.
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PropertyEU Archive
Degi offloads assets for more than EUR 2.9 bn
Degi, the real estate investment arm of German insurer Allianz, has announced that its Grundwert open-ended fund is selling a commercial portfolio with a current market value of around EUR 2.45 bn to affiliates of the Whitehall Funds, real estate funds sponsored and managed by Goldman Sachs. Although the financial ...
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PropertyEU Archive
Belgrade's office space rose by 40% since year-end 2005
Belgrade's total supply of speculative office space has increased by 40% since the end of 2005, according to the new Belgrade Office Market Overview issued by Colliers International Serbia. The total inventory of quality speculative office space in the Serbian capital is now 270,000 m2, of which some 145,000 m[sup]2[/sup] ...
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PropertyEU Archive
Oppenheim buys EUR 54.5m Skanska portfolio
German property investment company Oppenheim Immobilien is acquiring five properties in the Swedish cities of Gothenburg, Molndal, Malmo and Lund from Skanska for SEK 500 mln (EUR 54.5 mln). Skanska said the deal will result in a capital gain of SEK 184 mln (EUR 20.7 mln).
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PropertyEU Archive
Reig Capital sells Madrid office for EUR 84m
Lender Caja Duero has acquired the former head office of insurance company Winterthur from Reig Capital for EUR 84 mln. The building, currently vacant, is located at 6-8, Marques de Villamagna Street in Madrid. Reig Capital told PropertyEU that the property was acquired for EUR 69 mln in April 2006.
