All Real Assets articles in Web Issue – Page 87
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PropertyEU Archive
Private equity may launch £9bn bid for retailer William Morrison
William Morrison Supermarkets, the UK's fourth-biggest food retailer, may 'soon' get a £9bn (EUR 13.18bn) takeover bid from private equity or property specialists, according to the Sunday Times. The newspaper said the England-based retailer might be the next target after buyout firms failed to take over rival Sainsbury last month. ...
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PropertyEU Archive
Banimmo RE buys Antwerp Expo building
Belgian property company Banimmo Real Estate is taking over peer Bouwen en Wonen from Belgian company Artexis for an undisclosed amount. Bouwen en Wonen owns the 22,500 m[sup]2[/sup] Expo building, Antwerp's exposition centre. The property is currently let with a long-term lease contract to Mexico, a subsidiary of Artexis specialised ...
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PropertyEU Archive
Bologna to start major urban regeneration project
Twelve military barracks, parts of two former military areas with a total of 600,000 m[sup]2[/sup] of space, were returned last Friday to the city of Bologna, northern Italy. Italy's Prime Minister Romano Prodi signed the transferral of properties to the city during a ceremony held in the city's Town Hall. ...
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PropertyEU Archive
WDP doubles its French portfolio
Belgian closed-end real estate fund Warehouse de Pauw (WDP) has said it is to double its portfolio in France by investing EUR 35 mln in the realisation of two new projects in the North of the country. WDP said it has agreed with Van Maercke Immo France for the purchase ...
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PropertyEU Archive
Jitters reverberate through Spanish property market
The mid-April crash in shares of Spanish development companies on the Madrid stock exchange has raised speculation about a slowdown in the residential market - and its impact on commercial real estate. Astroc led the decline and saw the value of its share price halve in just two weeks. If ...
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PropertyEU Archive
Fortis to lease 30,000 m[sup]2[/sup] in Brussels
Belgian financial services group Fortis has agreed to take almost 30,000 m[sup]2[/sup] office space in the Manhattan Centre in Brussels. The deal is larger than any single office leasing deal achieved in the City of London in the last year, according to Gerald Keen of Catalyst Capital. JER Partners and ...
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PropertyEU Archive
Henderson, MFI launch EUR 2 bn German shopping centre fund
Henderson Global Investors and Germany's Management für Immobilien (MFI) have announced the creation of a EUR 2 bn German shopping centre fund. The closed-ended fund will offer international and domestic investors exposure to high-end specialist retail property throughout Germany, the parties said.
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PropertyEU Archive
Keops sells 37 Swedish commercial properties
Danish Keops has agreed to sell 37 Swedish commercial properties to a subsidiary of the British listed property investment company Teesland IOG for a total of SEK 1.5 bn (EUR 160 mln). The disposal involves the remaining properties of the so-called Malmstaden portfolio which Keops acquired in November 2004. The ...
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PropertyEU Archive
Banuelos invests EUR 73m in Astroc
Enrique Banuelos, head of Astroc, invested some EUR 72.8 mln in Astroc shares over the last 15 days raising his stake in the company from 51.84% to 53.77%. According to Spain's stock market agency CNMV, Banuolos acquired about 2.3 million shares or 2% of the company following a correction of ...
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PropertyEU Archive
US investor acquires Norwich Union's Glasgow office
Harbor Group International (HGI) has acquired the Contact Centre in Glasgow, Scotland from UK property investor Active Asset Investment Management for £33 mln (about EUR 50 mln). The 9,000 m[sup]2[/sup] office building is 100% leased to Norwich Union, the largest life insurance company in the UK, on a 25-year lease. ...
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PropertyEU Archive
Ixis AEW set to sell Greek properties
Ixis AEW Europe is planning to sell eight Greek properties leased to the DIY chain Praktiker, Greek daily Kerdos reported. The fund will sell the properties to Rockspring and Henderson for about EUR 160 mln. The deal would make it the biggest real-estate transaction in Greece after Lamda Development sold ...
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PropertyEU Archive
Hochtief starts construction of Prague's Trianon building
German developer Hochtief said that construction work is starting on the Trianon complex in Prague's fourth district in the second quarter of 2007, as final planning permission has now been granted. The office complex was previously sold to Hamburg-based Union Investment Real Estate, which also owns a 49% stake in ...
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PropertyEU Archive
Eur to double its property portfolio
Italy's Eur SpA is planning to double its property portfolio from the current EUR 670 mln to EUR 1.2 bn over the next five years, Eur said in a statement. The listed company manages assets in Rome's central Eur district and is 90%-owned by the ministry of economic affairs with ...
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PropertyEU Archive
Electra Real Estate shops in Frankfurt
Electra Real Estate has bought 60% of a mixed-use residential and commercial building in Frankfurt's city centre for EUR 40 mln.The fully leased building has 62 rental apartments and 24,600 m[sup]2[/sup] of commercial space. The retail element is let to the Metro retail chain through 2013 at an annual sum ...
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PropertyEU Archive
Rodamco Europe ready 'more than ever' for merger with France's Unibail
Rodamco Europe saw its direct result after tax (rental income minus costs) rise by 2.6% to EUR 96.1 mln in the first quarter of 2007. Net profit per share surged 58% thanks to a 92% increase in the indirect result, reflecting a higher valuation of the portfolio. For full-year 2007, ...
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PropertyEU Archive
Law firm leases space in 'Hitler's London HQ'
Property consultant Nelson Bakewell's (NB) City Office has let the fourth floor of Ibex House in London to law firm Field Fisher Waterhouse (FFW). Ibex House is the iconic Grade I-listed building dating from the 1930's on the Minories - which is believed to have been Adolf Hitler's proposed headquarters ...
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PropertyEU Archive
Magnat RE sells in Ukraine and Germany
Magnat Real Estate has signed contracts for the sale of its Podillja and Vossbergstrasse projects respectively in the Ukrainian town of Chemelnitzky and in the German capital city of Berlin. The Podillja project comprises the development of a wholesale market in the town of Chemelnitzky, which is the most important ...
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PropertyEU Archive
PIK Group mulls IPO in London
PIK Group, a Russian property company focused on residential construction in central Moscow, is planning to sell shares in what may become the largest ever Initial Public Offering by a developer in Europe. PIK, whose portfolio was valued by CB Richard Ellis at some $8.8 bn (EUR 6.4 bn) at ...
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PropertyEU Archive
Hypo completes EUR 280m financing for hotel purchase
Hypo Real Estate Bank International has provided a EUR 280 mln financing facility for the Invesco European Hotel Real Estate fund. US-based Invesco Real Estate will use the facility for the acquisition of hotels across Europe in the budget hotel sector, Hypo Real Estate Bank International said. The transaction was ...
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PropertyEU Archive
Deutsche Land acquires office buildings for EUR 91m
Deutsche Land, an investor in German commercial property, has acquired several office buildings and a warehouse within a commercial complex in the south-west of Germany. The transaction price of EUR 91 mln reflects an initial yield of approximately 8%. Major tenants within the complex include a large US technology company ...
