All Real Assets articles in Web Issue – Page 9
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PropertyEU Archive
Rodamco Europe increases profit forecast for 2006
Rodamco Europe, the largest publicly-listed retail property investment and management company in Europe, has revised its outlook upwards for the full year 2006 from 7% to at least 8%. Highlighting that growth of like for like net rental income was 4.8%, Maarten Hulshoff, ceo of the Dutch-based company, told PropertyEU ...
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PropertyEU Archive
2006 record year for shopping centres
2006 is a record year for investment in shopping centres in Italy, with 26 new malls opening and a further million m[sup]2[/sup] coming within the next year, said Thomas Casolo and Piero Cangelutti, managers of the multinational real estate consultancy Cushman & Wakefield.
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PropertyEU Archive
Treveria to raise EUR 250-300 mln for acquisitions
Dawnay, Day Treveria, the listed property investment company focused on the German market, has announced it is to raise EUR 250-300 mln through a placing of approximately 205 million ordinary shares to institutional investors to fund additional acquisitions over the next 12 months. The placing price for the new shares ...
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PropertyEU Archive
New structure agreed for Italy's Jolly Hotels
Spanish hotel group NH Hotels and Banca Intesa have concluded an agreement giving them control over Italy's Jolly Hotels group. A new holding company will be formed called Grande Jolly with control of 75% of the hotel group. It will launch a bid to buy the outstanding 25%. Presently ...
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PropertyEU Archive
Beni Stabili agrees deal on residential portfolio
Italian listed property company Beni Stabili has confirmed newspaper reports that it has signed a framework agreement with the Operae Group and Duse Sarl (a subsidiary of Cordea Savills) in relation to the sale of the residential component of the former Comit Fund portfolio, which Beni Stabili acquired in July ...
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PropertyEU Archive
Yield compression slows for EMEA offices
There has been a notable slowdown in the rate of yield compression as office letting showed 'healthy' activity during the third quarter of 2006, according to the latest CB Richard Ellis market view on the EMEA office market. While the average prime yield fell by 25 basis points to 5.05% ...
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PropertyEU Archive
David Ross and Morgan Stanley team up in fund
David Ross, the entrepreneur who co-founded the Carphone Warehouse, has teamed up with US investment bank Morgan Stanley to establish a property company, The Financial Times reported. Named Kandahar Real Estate, the company already owns £500 mln ( EUR 714 mln) in property contributed by the two partners. Morgan Stanley ...
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PropertyEU Archive
INREV extends survey deadline
The European Association for Investors in Non-listed Real Estate Vehicles(INREV) has announced that the deadline for its Investment Intentions Survey 2007 has been extended to Friday, November 17. INREV is conducting a survey on the investment intentions of institutional investors, fund of funds managers and fund managers active in the ...
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PropertyEU Archive
Italian mafia moving in on German real estate
Italian organised crime is gaining a foothold in real estate and other business sectors in Germany, and has invested cash from drugs and weapons smugglings to buy up large packages of shares in companies listed on the Frankfurt stock exchange, the Berliner Zeitung has reported.
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PropertyEU Archive
Luxury hotels prosper in Italy
The luxury hotels business is currently a hot favourite among real estate investors in Italy. Only the last week the international hotel chain Four Seasons had various offers which reached came to as much as EUR 2.8 bn from Bill Gates, the Saudi prince Al Waleed Bin Tahal and the ...
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PropertyEU Archive
New 32,000 m[sup]2[/sup] mall opens in Madrid
The 32,000 m[sup]2[/sup] Espacio Torrelodones shopping mall opened its doors in Madrid on Tuesday. The centre features shops, restaurants and leisure facilities is owned by WestInvest and was developed by Multi Development Spain in cooperation with Eroski.
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PropertyEU Archive
Glasgow's Forge mall sold for EUR 204 mln
An Irish investor has concluded the purchase of the Forge Shopping Centre in Glasgow from the Grosvenor Shopping Centre Fund for just under £138 mln (EUR 204 mln). The sale represents an initial yield of 4.85%.
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PropertyEU Archive
EUR 3.3 bn Derwent London link-up may become REIT
Commercial property investor Derwent Valley and peer London Merchant Securities (LMS) have reached agreement on a recommended merger. The new entity will be called Derwent London and will focus on development, refurbishment and active management of properties in the Central London area. The group will have a combined portfolio valued ...
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PropertyEU Archive
IGD signs EUR 43 mln mall extension deal
Italy's Immobiliare Grande Distribuzione (IGD) has signed a contract to sell the extension of the Leonardo shopping centre in Imola to the Netherlands-based Eurocommercial Properties (ECP) for EUR 43.03 mln. The extension was built on a piece of property held by IGD, a listed player in the real estate distribution ...
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PropertyEU Archive
NCC sells office projects for EUR 73 mln
Sweden's NCC Property Development has sold an office project in Oslo to Aberdeen Eiendom Holding II for approximately SEK 664 million (EUR 73 mln). The Lysaker Torg 45 office project comprises 16,250 m[sup]2[/sup] of office space over seven storeys, 625 m[sup]2[/sup] of storage space and 309 parking spaces. The ...
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PropertyEU Archive
Macquarie to buy UK business parks for EUR 887 mln
Australia's Macquarie Goodman Group has announced that its managed fund Arlington Business Park Partnership is to acquire Akeler Holdings, the owner of a portfolio of UK business parks, for EUR 887 mln. Macquarie Goodman, Australia's largest industrial real estate trust, is to pay EUR 72 mln for three properties in ...
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PropertyEU Archive
Norgani agrees Denmark hotel dealing
Norgani, the Oslo-based listed hotel operator, has entered into a letter of agreement with Fearnely Finans Eiendom, on behalf of companies yet to be established, regarding the sale of four Danish hotels. Norgani said the hotels, Clarion Copenhagen, Scandic Kolding, Scandic Glostrup and Scandic Hvidovre, have been valued at EUR ...
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PropertyEU Archive
Belgian retailer sells Czech operations
Belgian international food retailer Delhaize is to sell Delvita, its Czech business, to German retailer Rewe for EUR 100 mln. Rewe operates Billa supermarkets and Penny Market discount stores in the Czech Republic.
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PropertyEU Archive
Brinkman to head Zuidas development
Former Dutch health minister Elco Brinkman has been appointed by the government in The Hague to head the organisation charged with building a infrastructural tunnel under the Zuidas, the major urban project in the south of the Dutch capital. The cost of the construction of the tunnel, known as Dok ...
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PropertyEU Archive
Retail professionals gather in Cannes
A record 8,000 delegates are expected to attend when Mapic 2006, the international retail trade fair, begins in the French Riviera city of Cannes on Wednesday.
