All Real Assets articles in Web Issue – Page 95
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PropertyEU Archive
Premira spends EUR 528m on conference centres
Europe's largest private equity firm Premira has acquired Hayley Conference Centres for £358 mln (EUR 528 mln) to expand its Principal Hotels business, Bloomberg has reported. Permira bought Hayley from its managers, who were backed by 3i Group, according to an emailed statement from the London-based firm on Friday.
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PropertyEU Archive
'REITs sector in Italy could grow to EUR 71 bn'
All major economies in Europe will have a tax-fiendly real estate investment trust (REIT) structure within two to three years, Nick van Ommen, ceo of European Public Real Estate Association (EPRA) forecast during the last day of Expo Italia Real Estate in Milan. 'About EUR 1,000 bn of the world's ...
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PropertyEU Archive
SEB ImmoInvest buys KPN building for EUR 91m
SEB ImmoInvest has acquired a 22,000 m[sup]2[/sup] office development in the Sloterdijk district of Amsterdam for EUR 91 mln from the developer OVG Projectontwikkeling. Dutch telecom company KPN is to rent the entire building and will move its staff from offices in Amsterdam and Harlem there when it is completed ...
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PropertyEU Archive
Provada: international business masterclass
Masterclass: lessons in international business
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PropertyEU Archive
Istithmar completes West End purchase
Istithmar PJSC, the investment house based in the United Arab Emirates, has completed the purchase of Marcol House, London, W1 and has re-branded the property as Cavendish Gate. The £64 mln (EUR 95 mln) transaction was originally announced in January. Debt funding for the acquisition was provided by German real ...
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PropertyEU Archive
Mirland forms jv for Moscow residential developments
Mirland Development Corporation has announced it is forming a joint venture with a local Russian company to develop up to three real estate projects in Moscow. On completion the developments will comprise over 200,000 m[sup]2[/sup] of mainly residential real estate.
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PropertyEU Archive
Italy to launch first public-private real estate fund
Italy's southern Campania region is launching a new public-private partnership to invest in real estate in the area, councillor Andrea Cozzolino said during the last day of Expo Italia Real Estate fair in Milan on Friday. The venture will be the first regional real estate fund with both public and ...
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PropertyEU Archive
Orco give hospitality portfolio spa makeover
Orco Property Group has announced that its first Sensori spa will open in early June at the Adriana Hotel on Hvar Island, Croatia. The Sensori spa brand is being introduced to diversify Orco's MaMaison hospitality portfolio. In 2005, Orco invested EUR 50 mln in the Suncani Hvar hotels group, owner ...
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PropertyEU Archive
Deutsche Wohnen to double apartments by 2009
German residential property company Deutsche Wohnen plans to buy as many as 1,000 more apartments by the end of the year and double the amount of properties it owns by 2009. Deutsche Wohnen, based in Mainz, acquired 1,000 apartments in the first three months, bringing the total size of its ...
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PropertyEU Archive
Tishman, Lehman acquires US apartment landlord for $22 bn
Tishman Speyer Properties and Lehman Brothers have agreed to buy US apartment developer Archstone-Smith Trust for $13.5 bn (EUR 10 bn) and debt, Bloomberg reported. Tishman, the New York-based real estate investor, and Lehman Brothers will pay $60.75 a share, 19% more than the May 24 closing price. Including debt, ...
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PropertyEU Archive
Berlin top office rents tipped to go through roof
A significant increase in the average office rent level is imminent in Berlin, particularly for the top end of the market, according to real estate consultants Winters & Hirsch. The economic recovery in Germany is a major driver of rent levels. The Federal Government expects an 2.3% increase in the ...
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PropertyEU Archive
Retail billionaire moves into London residential market
UK retail billionaire Richard Caring has reportedly beaten off 38 competitors to acquire the site of the US Navy headquarters in Grosvenor Square next to the US embassy in London for £250 mln (EUR 367 mln). The Sunday Times newspaper said he plans to build luxury apartments. This is ...
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PropertyEU Archive
Meag buys Zenith-Tower in Brussels
Munich-based asset manager Meag has signed a deal with Codic Belgium for the acquisition of all the shares in special purpose company that owns the Zenith-Tower development in Brussels, Belgium. The Zenith-Tower was purchased for the institutional office fund Meag Euro Pro. The price was not disclosed, but Meag said ...
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PropertyEU Archive
Bulgaria witnesses surge in foreign RE investment
Foreign investment in Bulgarian property increased to EUR 1.1 bn last year, up from EUR 336 mln in 2005, the country's central bank reported. Spurred on by Bulgaria's entry into the EU on 1 January this year, the foreign investment stream rose 63% in the first quarter of this year, ...
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PropertyEU Archive
Sponda continues expansion in Russia
The Russian arm of Finnish real estate investment company Sponda Germany's Spag have signed a binding agreement to purchase three office properties close to the centre of St Petersburg for EUR 4 mln. The properties have a combined leasable area of 2690 m[sup]2[/sup] and are fully leased. The tenants are ...
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PropertyEU Archive
Electra premiers in Netherlands with largest deal
Israel's Electra Real Estate has scored two firsts with the acquisition, along with an unnamed partner, of a portfolio of 10 office properties in the Netherlands and Germany for NIS 1.5 bn (about EUR 276 mln). The deal was the largest ever carried out by Electra and its first in ...
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PropertyEU Archive
Vivacon boosts residential stock to 13,000 units
Vivacon, the German residential property company, has acquired a portfolio of just over 3,000 housing units with some commercial space in various transactions carried out by its subsidiaries. The properties are mainly located in Bremen, Bavaria, Lower Saxony, North Rhine-Westphalia and Schleswig-Holstein and have a total rentable area of approximately ...
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PropertyEU Archive
Miller to launch EUR 1 bn European fund
Miller Developments, the commercial property subsidiary of the UK's Miller Group, is planning to launch a EUR 1 bn fund to invest in retail property across Europe by the end of the year, ceo Phil Miller said during a visit to an out-of-town scheme that the company developed in Hungary. ...
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PropertyEU Archive
Beni Stabili wins EUR 180m Demanio portfolio
Italian property company Beni Stabili has won the public contest for Fondo Immobiliare Pubblico (FIP) no. 1 for a total of EUR 180 mln. The portfolio, put on the market last March, received about 40 bids from national and foreign investors, Beni Stabili said in a press release. Final binding ...
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PropertyEU Archive
Sparkassen to invest EUR 500m in Bulgaria by 2010
Erste Bank Group's real estate division Sparkassen Immobilien, and Germany's ECE Projektmanagement are developing a EUR 180 mln commercial and business center in Sofia, newspaper Dvevnik reported. Erste bank is also planning to invest up to EUR 500 mln in Bulgarian retail, office and residential developments through 2010.
