All Real Assets articles in Web Issue – Page 94
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PropertyEU Archive
Irish Life buys UK mall for EUR 125m
Irish Life Assurance has purchased the Nicholsons shopping centre in Maidenhead, southeast England, from London-based private property investor Boultbee for £85 mln (EUR 125 mln). The Nicholsons centre provides 12,000 m[sup]2[/sup] of retail sales accommodation on a 1.77 hectare site. The key tenant anchors include Tesco Metro, Argos, Next, WH ...
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PropertyEU Archive
Mitsubishi to pay EUR 153m for London offices
Japanese property giant Mitsubishi Estate has exchanged contracts with life assurance company Meiji Yasuda for the acquisition of River Plate House in Finsbury Circus, London for 25 billion yen (EUR 153 mln). The office building provides 20,000 m[sup]2[/sup] of lettable space over nine floors and is let to Mizuho Corporate ...
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PropertyEU Archive
CPB: yield gap in CEE fully eliminated by 2009
The existing yield gap in countries in Central and Eastern Europe (CEE) compared to the western part of Central Europe will be fully eliminated in the next 12 to 18 months, according to Michael Ehlmaier, ceo of property adviser CPB. 'There is simply no objective reason any longer as to ...
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PropertyEU Archive
Dragon-Ukrainian IPO raises $208m
Kiev-based investment bank Dragon Capital raised $208 mln (EUR 155 mln) from the IPO of its property investment arm Dragon-Ukrainian Properties and Development on London's AIM market, making it largest Ukrainian IPO to date.
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PropertyEU Archive
Cofinimmo buys EUR 25 mln plot in Antwerp port
Belgian property company Cofinimmo has acquired a development site in the port of Antwerp for around EUR 25 mln. The site will be used for the development of a 10,000 m[sup]2[/sup] office building and 200 parking spaces. The company expects the intitial rental yield to be between 6.1% and 7.1%.
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PropertyEU Archive
Wichford acquires 3 UK properties for £30m
UK property investor Wichford has acquired three UK properties for a total of £30.5 mln (EUR 45 mln), and that it is in advanced talks on the acquisition of properties in France and Germany worth around £110 mln.
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PropertyEU Archive
EUR 3 bn Yukos bidder disappears into the ether
Prana, the company that came out of the blue to bid EUR 3 bn to acquire the key assets of bankrupt Russian energy giant Yukos, has stunned the market again by pulling a disappearing act. Although Prana paid the equivalent of EUR 127 mln to take part in the auction, ...
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PropertyEU Archive
Delek acquires over 800 filling stations for EUR 342 mln
Delek Petroleum, a subsidiary of the Israeli delek Group, has acquired 800 fillng stations in the Benelux region from Chevron for EUR 342 mln. The deal, which requires regulatory approval, is scheduled for completion by 31 October 2007. Some 510 of the gas stations operating under the Texeco brand are ...
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PropertyEU Archive
Fonciere invests EUR 410m in French properties
French property investor Fonciere des Murs has said it has acquired a string of French properties for a total investment of EUR 410 mln. The properties are occupied by Generale de Sante, le Club Mediterannee and Quick. The company also announced plans to raise EUR 200 mln in equity ...
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PropertyEU Archive
Aedes, Gefim form JV for Milan green development
Italian property companies Aedes and Gefim have formed a joint venture for the development of a revitalisation project on a former industrial site north of Milan. The 500,000 m[sup]2[/sup] 'green' development will include a 155,000 public park, 18,000 m[sup]2[/sup] of piazzas, gardens, yards, tree-lined streets and cycle paths.
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PropertyEU Archive
Al Fajer showcases Dubai development in Italy
Dubai-based El Fajer is using the Expo Italia Real Estate to showcase its Jumeihra Business Centre Tower development in downtown Dubai. Al Fajer ceo Shahram Abdullah Zadeh said Dubai is attracting a lot of interest from European investors, especially from Germany and the UK, and he wants to spark demand ...
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PropertyEU Archive
Investor demand slowing down in mature CEE markets
Investor demand for property in Central and Eastern Europe fell in the first quarter of 2007, in particular in Poland, Hungary and the Czech Republic, according to the latest capital markets update from property adviser DTZ. The volume of transactions across the region amounted to EUR 2.3 bn, marking a ...
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PropertyEU Archive
'Shopping malls will revive historic city centres'
Shopping malls are not plagues for Italy's city centres but rather instruments able to pump life back into Italy's increasingly desolate historic areas, Fabio Bandirali, director of EuroHypo Italia and president of Italy's shopping centre organization CNCC, has said on the third day of the Expo Italia Real Estate (EIRE) ...
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PropertyEU Archive
Henderson Global eyes Continental Europe
UK property company Henderson Global has set its sights firmly on the Continental Europe property market, according to a report in the Wall Street Journal. The company is increasing its exposure to markets such as Germany and Spain, as well as Asia. Henderson MD James Darkins is cited as ...
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PropertyEU Archive
Quintain, Lend Lease form Greenwich development JV
Property developer Quintain Estates & Development and retail and residential property group Lend Lease Europe have formed a joint venture to continue the development of London's Greenwich peninsular. The joint venture, Peninsular Quays Limited (GQL) will develop 3,000 homes on a 22-acre site.
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PropertyEU Archive
Welsh city backs EUR 1.5 bn regeneration scheme
The planning committee of Newport city council has decided to grant outline planning consent for a EUR 1.5 bn regeneration of a 242-hectare former steelworks site at Llanwern. Under the proposals put forward by regeneration specialist St Modwen Properties the land in the third largest Welsh city will be transformed ...
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PropertyEU Archive
Multi Corporation takes 100% ownership of Multi Turkmall
Multi Corporation has taken full ownership of Multi Turkmall in Turkey by giving its former joint venture partner Turkmall shares in Multi Corporation and an undisclosed cash amount. The joint venture has opened its first shopping centre Forum Bornova in Izmir and there are currently ten shopping centres and ...
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PropertyEU Archive
ECE invests EUR 150m in new Russian shopping gallery
ECE Projektmanagement is to build a shopping gallery with more than 60,000 m[sup]2[/sup] of leasable area in the Russian city of Yaroslavl, 250 kilometres north-east of Moscow. The project was announced on Friday at a joint press conference with Yaroslavl's mayor, Viktor Volonchunas, a day before celebration of the city ...
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PropertyEU Archive
Builder raises EUR 262m in Warsaw's largest IPO this year
Poland's largest residential building company J.W. Construction raised 777 million zloty (EUR 262 mln) in the largest IPO on the stock exchange in Warsaw this year. The company priced almost 11 million new and existing shares at 71 zloty each. J.W. Construction, based in a suburb of the Polish capital, ...
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PropertyEU Archive
Fonciere Massena clinches EUR 460m office-resi deal
Fonciere Massena has agreed to buy a portfolio of 60 buildings for EUR 460 mln in a move that will increase the French property company's holdings five-fold. In a statement on Friday, Fonciere Massena said it will issue almost 37 million shares at EUR 12.50 each to fund the acquisition ...
