All Real Assets articles in Web Issue – Page 96
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PropertyEU Archive
Northern European Properties invests EUR 231m in Russia
Tightening yields in the Nordic region during the first half of 2007 stimulated Northern European Properties (NEPR) to reduce its holdings there and invest in Baltic Russia. The Jersey-registered real estate investment company has announced the acquisition of six properties in Russia for EUR 231 mln and the sale of ...
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PropertyEU Archive
Unibail set to enter French CAC 40 index
French property giant Unibail and Franco-Dutch airline Air France-KLM are to join the CAC 40, the main stock exchange index in Paris, on June 18, NYSE Euronext has announced. The companies are to replace insurer AGF and electronics group Thompson. Unibail and Dutch retail property specialist Rodamco Europe are working ...
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PropertyEU Archive
Realia fixes maximal share price at EUR 8.8 per stock
Spanish real estate developer Realia has decided to set the maximum share price of its initial public offering (IPO) at EUR 8.8 per share, down from the top price of EUR 9.7 outlined in its first IPO notice. The company had indicated a price range of between EUR 7.9 and ...
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PropertyEU Archive
Itacare begins trading on AIM
Itacare Capital Investments began trading on the Alternative Investment Market (AIM) of London Stock Exchange on Wednesday, having raised EUR 56 mln in its IPO to fund development of beachfront villas in Bahai, Brazil. Itacare is a limited liability, closed-ended real estate company incorporated in the British Virgin Islands.
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PropertyEU Archive
L&R may get David Lloyd leisure business
Private property company London & Regional is set to buy the David Lloyd Leisure business from Whitbread this week for a figure close to £940 mln (EUR 1.382 bn), the Financial Times has reported. London & Regional, run by Ian and Richard Livingstone, has reportedly made the highest bid for ...
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PropertyEU Archive
Prupim enters Sweden with landmark office buy
Prudential Property Investment Managers (Prupim) has entered the Swedish market with the acquisition of a EUR 41 mln landmark office building in Kungholmen on behalf of the M&G European Property Fund. Prupim - in the top 10 of global real estate investment managers - purchased the 11,300 m[sup]2[/sup] 'Paradiset ...
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PropertyEU Archive
Infrastructure jv buys owner of UK port
Global Infrastructure Partners has acquired IPH (Jersey), owner of Great Yarmouth port on England's East coast for an undisclosed sum. In a statement, the joint venture between GE Infrastructure and Credit Suisse, said it will acquire the port in exchange for building a new outer harbour and other investments. Great ...
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PropertyEU Archive
Union Investment completes Pinnacle sale
German investment company Union Investment Real Estate has completed the sale of its interest in the 288-metre The Pinnacle development to Arab Investments, allowing the next construction phase for the City of London's tallest building to proceed. The deal, announced at the end of February this year, was said to ...
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PropertyEU Archive
Cordea Savills completes placing of Pan European Property Fund
Property fund manager Cordea Savills has successfully completed the placing of its Pan European Property Fund. Mediobanca acted as sole underwriter. To date, the fund has attracted EUR 170 mln of equities to be invested in logistics, retail and office property across Europe. The fund has already eyed investment opportunities ...
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PropertyEU Archive
Morgan Stanley set for EUR 2.8 bn Investa buy
Morgan Stanley has agreed to buy Australia's biggest office owner Investa for A$ 4.7 bn (EUR 2.8 bn) in cash. The offer values Investa shares at A$3.08 each, a 14% premium on Wednesday's closing price. This is the latest of a series of acquisitions by the US lender aimed at ...
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PropertyEU Archive
Deutsche Bank to buy HQ for EUR 272m
Deutsche Bank AG, Germany's biggest bank, plans to buy its headquarters in Frankfurt for EUR 272 mln before a planned renovation. The bank made the offer to about 1,300 investors in a DB Real Estate fund that owns the buildings, spokesman Tim Ambrosius said. Deutsche Bank moved into the property ...
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PropertyEU Archive
FGH Bank to securitise EUR 3 bn property loan portfolio
Rabobank's commercial property lending arm FGH Bank said it plans to securitise EUR 3 bn worth of commercial property loans. The Skyline 2007 CMBS transaction will be the biggest in the Netherlands and one of the biggest in Europe, the company said. The company is being advised by Rabo International ...
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PropertyEU Archive
Urbas to invest EUR 300 mln in renewable energy
Spanish property firm Urbas says it plans to invest EUR 300 mln in renewable energy production over the next five years. The company's ceo Juan Antonio Ibanez said Urbas has received permission to build capacity for the production of 20 megawatts and is close to acquiring an unnamed Spanish energy ...
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PropertyEU Archive
Colonia acquires 70% stake in Accentro
German firm Colonia Real Estate has signed a letter of intent on the acquisition of a 70% stake in Stuttgart-based peer Accentro Real Estate for an undisclosed sum. Colonia said the acquisition extends it network across Germany and gives the company access to the strongly-growing south of the country. ...
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PropertyEU Archive
Cofinimmo snaps up 9 Belgian nursing homes
Belgian property investor Cofinimmo has acquired nine nursing homes and 25 hectares of land by the acquisition of 100% of the shares of the property activities of nursing home operator Van den Brande Group for an undisclosed sum. The company said the nursing homes have 809 beds and total floor ...
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PropertyEU Archive
TDC to sell property holdings for EUR 967 mln
Danish telecom firm TDC is reportedly planning to sell its property holdings for around EUR 967 mln and lease back the property. Danish business newspaper paper Boersen said real estate investors from Denmark and elsewhere are preparing bids for the property. TDC is considering selling off its Copenhagen head ...
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PropertyEU Archive
Eiffage will appeal Sacyr's offer
Eiffage's chairman Jean-Francois Roverato said that the French group will appeal against any decision by markets authority AMF to allow Spanish Sacyr Vallehermoso's all-share bid for Eiffage, news agency Europa Press reported. Sacyr, Eiffage's majority shareholder with a 33% stake, is seeking to take over France's third-largest construction company Eiffage ...
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PropertyEU Archive
Ferrovial says security costs delay BAA profit
Spanish builder Grupo Ferrovial said that UK airport operator BAA won't contribute to earnings until 2011 after a terror alert last year led to higher security costs. Ferrovial spent $20 bn (EUR 15 bn) for BAA last August, the same month an alert increased security costs at BAA to $42 ...
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PropertyEU Archive
MIG buys Nicosia hotel
MIG Leisure, a subsidiary of Greece's Marfin Investment Group (MIG), has completed the purchase of the Hilton Cyprus hotel in Nicosia for EUR 59 mln. The property has been sold by Cyprus' Tourism and Development Public Company. Hilton Cyprus, the only five-star hotel in Nicosia, has about 300 rooms.
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PropertyEU Archive
IGD, GAM join forces in new commercial venture
Italian property company Immobiliare Grande Distribuzione (IGD) has teamed up with Despar Italia Group's subsidiary GAM to set up a new venture that will invest in retail property across Italy. This 50/50 joint venture owns a EUR 70 mln shopping centre in Vibo Valentia, southern Italy. The mall, anchored by ...
