All Real Assets articles in Web Issue – Page 92
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PropertyEU Archive
Corio posts 4.5% like-for-like net rental growth
Corio registered a 4.5% like-for-like net rental growth in 1Q 2007, the Dutch commercial property company said. This compares with a much higher figure of 7.2% issued by Rodamco for the first quarter of the year. Corio said tha net rental income growth was offset by the increase of financing ...
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PropertyEU Archive
King Sturge in shape for European growth
King Sturge continues to strengthen its European presence with the creation of an International Limited Liability Partnership (LLP) and the addition to the King Sturge Group of Hettrich Chartered Surveyors, of Berlin, Germany.
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PropertyEU Archive
Aedes gets authorisation for EUR 1.3 bn fund package
Banca d'Italia has granted approval to property investor and asset manager Aedes for five opportunity real estate funds with a total equity value of EUR 1.3 bn. The authorisation has led to the launch of Aedes Value Added, an asset management company owned by Aedes, which will run the opportunity ...
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PropertyEU Archive
Hammerson buys London offices for EUR 104m
UK property company Hammerson has acquired the freehold interest in an eight-storey office building adjacent to Victoria Station in London for £71.4 mln (EUR 104 mln) from a private client of DTZ Debenham Tie Leung. Completed in 1985, Stockley House is a 6,700 m[sup]2[/sup] eight-storey office that is fully ...
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PropertyEU Archive
Morgan Stanley, IVG buy portfolios for EUR 2.5 bn
Morgan Stanley Real Estate and IVG Immobilien have agreed to buy 53 properties and the Frankfurter Welle office development for a total of EUR 2.5 bn from Hamburg-based fund manager Union Investment Real Estate.
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PropertyEU Archive
Kenmore's industrial portfolio achieves 7.3% yield
Kenmore European Industrial Fund (KEIF) has announced a net asset value of 110 pence per share by the end of March, an uplift of 15.5% since it listed in London on September 2006. The company's net asset value incorporates an external valuation of the portfolio showed an increase of 2.9% ...
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PropertyEU Archive
Milan hosts 3rd Expo Italia Real Estate fair
The third edition of Expo Italia Real Estate (EIRE) begins today in the new fair complex near Milan and is expected to attract 15,000 participants and 350 exhibitors from 11 different countries. From 22 to 25 May, the curvilinear forms of Massimiliano Fuksas’ 35,000 m[sup]2[/sup] exhibition centre will be home ...
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PropertyEU Archive
Altarea in talks to buy Cogedim for EUR 650m
Altarea, a French real estate investment trust, has confirmed it is in exclusive talks to acquire Paris-based developer Cogedim for as much as EUR 650 mln, Bloomberg reported. In an emailed statement, Altarea, also headquartered in Paris, said it is negotiating to buy Cogedim from a group of shareholders led ...
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PropertyEU Archive
GE Real Estate acquires Czech retail assets
GE Real Estate Central & Eastern Europe has entered into a forward funding agreement with Euro Mall Holdings, a subsidiary of TK Development, for the development of a shopping centre in Kolin and a retail park in Liberec, the Czech Republic for approximately EUR 44 mln. The shopping centre in ...
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PropertyEU Archive
BVIC sells Athens office development
Babis Vovos International Construction (BVIC) has sold a 12,000 m[sup]2[/sup] office building development in downtown Athens to German real estate company KanAm Grund for just over EUR 47 mln. The property is part of a three-building office complex under construction on an 8,000 m[sup]2[/sup] plot.
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PropertyEU Archive
Boetzelen to seek listing in Frankfurt
Boetzelen Real Estate, a German investor in retail properties, has announced it is preparing for its initial public offering. It intends to seek a listing on the official market segement of Frankfurt Stock Exchange before the end of the half half of 2007. The IPO proceeds will be used primarily ...
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PropertyEU Archive
XXI Century places Eurobond issue
Ukrainian real estate developer XXI Century Investments has placed its debut $175 mln Eurobond issue, with a 10% percent coupon paid semi-annually. Citing a company press release, Bloomberg reported that the Eurobond placement will finance the development and construction of the company's existing project portfolio, acquisition of property in Kyiv ...
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PropertyEU Archive
Summit takes controlling stake in Deutsche Real Estate
Summit Germany, a UK-based property investor, has bought the 76% stake held by the Goldman Sachs Group in Deutsche Real Estate for EUR 40 mln. Bloomberg reported that Summit agreed to buy the stake at EUR 2.61 a share last Friday, a 19% discount to the closing share price of ...
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PropertyEU Archive
Unibail makes official offer for Rodamco
Unibail, France's largest real estate investment trust, has tabled its EUR 9.3 bn offer to acquire Dutch rival Rodamco Europe to create Europe's largest publicly traded property company. Bloomberg reported that the Paris-based company bid just over half of a Unibail share for each Rodamco share in an offer that ...
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PropertyEU Archive
Cofinimmo offers EUR 120m for Immo Croissance
Belgian real estate company Cofinimmo has announced it is to launch a EUR 120 mln bid for Immo Croissance, a Luxembourg company that has a EUR 160 mln office property portfolio in Luxembourg, Belgium and Germany. The net asset value of Immo Croissance at 31 December 2006 amounted to EUR ...
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PropertyEU Archive
Aldar Properties names banks for $2 bn syndicated loan
Aldar Properties, the Abu Dhabi-based developer, has appointed several banks to provide a $2.1 bn (EUR 1.6 bn) syndicated loan facility to fund its major Al-Raha Beach Infrastructure project. Morgan Stanley Bank International, Abu Dhabi Commercial bank, Dubai Islamic Bank, the National Bank of Abu Dhabi and First Gulf Bank ...
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PropertyEU Archive
Immoeast raises EUR 3 bn for south-eastern expansion
Immoeast has raised EUR 2.8 bn from a share issue to help finance a massive investment programme in southeastern Europe, and Romania in particular. The total volume of just under 278 million shares was fully placed at EUR 10.20 each during the offer period from 2-21 May. The offer was ...
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PropertyEU Archive
KanAm buys development bank's headquarters for EUR 595m
British Land has exchanged contracts with German fund manager KanAm Grund Kapitalanlagegesellschaft for the sale of One Exchange Square on the Broadgate Estate in the City of London for £406 mln (EUR 595 mln).
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PropertyEU Archive
Orco acquires Bratislava property
Orco Property Group has completed the acquisition of the City Gate building in the Slovak capital Bratislava. The property was formerly home to the National Bank of Slovakia (VUB). Orco plans to develop a modern shopping centre and exclusive restaurant on the ground floor. The second floor will be dedicated ...
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PropertyEU Archive
Rome's mayor demands action on planning gridlock
Rome's mayor Walter Veltroni has called for a new regulatory system to allow Italian cities to better adjust to the demands of modern life. Speaking
