All Real Assets articles in Web Issue – Page 88
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PropertyEU Archive
REIT Europe and Aedes in joint venture
REIT Asset Management has teamed up with Italy’s Aedes Investment Management to launch a £ 5 bn (EUR 7 bn) global investment company, Property Week reported. The 50-50 joint venture between REIT Europe and Aedes Investment Management, a subsidiary of Aedes International, will be called Escalia Capital. The new company ...
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PropertyEU Archive
UAE developer woos Ahold boss
Swede Anders Moberg is to take the helm at shopping mall developer Majid al Futtaim (MAF) in the United Arab Emirates (UAE) on 1 July when he steps down as ceo of Dutch retail chain Ahold. Moberg, 57, takes over at MAF from Francois de Montaudouin who leaves the company ...
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PropertyEU Archive
Reech AIM and CBRE launch real estate hedge funds
Property advisory firm CB Richard Ellis and fund manager Reech AiM said their [property fund joint venture is planning to launch up to six real estate hedge fund strategies, to meet burgeoning demand for property investments.
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PropertyEU Archive
Hannover Leasing in largest single asset deal in Central Europe
Hannover Leasing has announced the acquisition of the largest downtown business and shopping centre in the Czech Republic for more than EUR 500 mln. The Palladium is centrally located in Prague's inner city, and includes about 19,500 m[sup]2[/sup] in office space, 200 stores plus cafes and restaurants on more than ...
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PropertyEU Archive
Metro Baltic buys office complex in St Petersburg
Metro Baltic Horizons has acquired a 16,000 m[sup]2[/sup] office complex in St Petersburg for EUR 39 mln. The deal marks the property investment company's first transaction since its raised EUR 39 mln in an IPO on the AIM market of London Stock Exchange last December. The office complex comprises six ...
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PropertyEU Archive
Kenmore opens office in Berlin
Kenmore Property Group has opened its first German office in Berlin, with Daniel Herrmann appointed as managing director. Kenmore has been active in the German market since early 2005 and has approximately EUR 140 mln of assets under management in Germany. The company is seeking to increase the volume of ...
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PropertyEU Archive
Grupo Lar buys three malls from SEB Immobilien
Spanish real estate company Grupo Lar has purchased three shopping centres from Germany's SEB Immobilien Investment for EUR 116 mln. Grupo Lar announced to the Spanish media that the acquisition was made with Morgan Stanley, whcih holds a 17% interest in the property company. The three malls are the 16,000 ...
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PropertyEU Archive
Carlyle Group sells offices to Italian fund
BNL Fondi Immobiliari SGR, on behalf of the Immobiliare Dinamico fund, has acquired a portfolio of four office buildings from The Carlyle Group. The properties are located in Milan and Rome, and comprise a total lettable area of almost 60,000 m[sup]2[/sup] 51,922 square meters. The seller said the portfolio's pre-tax ...
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PropertyEU Archive
Plaza Centers transfers malls to Klepierre
Plaza Centers, a property developer focused on Central and Eastern Europe, has formally completed the handover of the Rybnik Plaza and Sosnowiec Plaza Shopping and Entertainment centres in Poland to French property company Klepierre. Both shopping malls were sold prior ro completion to Klepierre in July 2005. The centres opened ...
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PropertyEU Archive
Retailer Clas Olson debuts in UK
Clas Ohlson has appointed property advisor Jones Lang LaSalle to help in its search for stores in the UK, Property Week reported. The listed Swedish DIY and home electrical products chain aims to open up six stores in city-centre locations in the southeast of the country. Clas Ohlson has 70 ...
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PropertyEU Archive
UK investor secures Europe's largest retail property deal
Private property investment company Boultbee has won the bid to acquire CentrumKompaniet, the City of Stockholm's portfolio of ten shopping centres for more than SEK 10 bn (just over EUR 1. bn) in what has been described as the biggest retail property deal in Europe so far this year.
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PropertyEU Archive
Marsh sets up global real estate practice
Marsh, the US-based risk and insurance services firm, has established a global real estate practice. The new unit is headed by Jeffrey Alpaugh, an 18-year veteran of the insurance and risk management business. He will report to James Enelow, head of Marsh's Industrial Practices. 'As real estate investment firms continue ...
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PropertyEU Archive
IStar links up with Moor Park
IStar Financial, the US REIT, has formed an exclusive partnership with Moor Park Capital Partners of the UK, according to a report in Property Week. The company, which acts as a banker providing debt to private and corporate owners of real estate, will invest equity in funds managed by Moor ...
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PropertyEU Archive
Polish warehouse market grows 33% in record Q1
The Polish warehouse market set a new record in the first quarter of this year, with a total of 270,000 m[sup]2[/sup] of new warehouse space delivered, compared with 500,000 m[sup]2[/sup] delivered in the whole of 2006, according to property consultant Cushman & Wakefield.
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PropertyEU Archive
Metrovacesa sees Q1 profits triple
Metrovacesa said on Thursday that its net profit for the fist quarter of 2007 rose to EUR 448 mln, compared with EUR 145 mln a year earlier. Its revenues climbed over 80% to EUR 511 mln from EUR 280 mln. IN late April, the Spanish property giant agreed to acquire ...
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PropertyEU Archive
Doughty Hanson sells 3 Finnish shopping centres for EUR 186m
UK property fund manager Doughty Hanson has sold three shopping centres in Finland to Dutch property investor ING Real Estate Investment Management for EUR 186 mln.
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PropertyEU Archive
HCI buys 2 Dutch office buildings for EUR 65m
German closed-end property manager HCI has bought two new office buildings in the Paperndorp office area of the Dutch city of Utrecht for a total of EUR 65 mln. HCI bought the 7,000 m[sup]2[/sup] Kroonstaete building from Dutch developer Kroon and the 17,000 m[sup]2[/sup] KPN building from Dutch property firm ...
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PropertyEU Archive
Rodamco Europe buys in Austria, sees Unibail public offer within 2 weeks
Dutch property investor Rodamco Europe has acquired a 50% stake in the 22,700 m[sup]2[/sup] shopping centre Sudpark in Klagenfurt Austria for around EUR 34.5 mln. Anchors tenants include department store chains Hennes & Mauritz and C&A, plus supermarket operator Merkur. Rodamco will take over the management of the centre, the ...
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PropertyEU Archive
Standard Life property fund breaks £2 bn barrier
Standard Life Investments, one of the largest property fund managers in Europe, has announced that its Standard Life's Life Property Fund has broken through the £2 bn (EUR 2.9 bn) barrier in funds under management.
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PropertyEU Archive
UK real estate lending debt climbs to EUR 245 bn
Bank lending to real estate investors in the UK shows no sign of abating, according to figures released by the Bank of England (BoE). The total amount outstanding to real estate increased by £6.4 bn (EUR 9.4 bn) in the first quarter of 2007.
