All Real Assets articles in Web Issue – Page 98
-
PropertyEU Archive
Befimmo says 70% of newly-issued shares were subscribed
Belgium' office real estate company Befimmo has announced that about 70% of its newly-issued shares were subscribed by the closing of the subscription period on May 31. Preferential rights that were not exercised by the closing of the period will be represented by scrips. These scrips were offered on June ...
-
PropertyEU Archive
Urbas poised for EUR 920m spending spree
Spanish property firm Urbas is close to acquiring two non-listed property companies and an energy firm for a total of EUR 800 mln. During a business forum in Madrid, Urbas' ceo Juan Antonio Ibanez revealed the company is currently in advanced talks to buy two unnamed real estate companies, linked ...
-
PropertyEU Archive
GE Real Estate acquires Hertfordshire development
GE Real Estate UK, in partnership with Bell Hammer, has acquired an office development in the town of Welwyn Garden City in Hertfordshire, England for £10.75 mln (almost EUR 16 mln) from Shepherd Development Company. The scheme, called Alchemy, comprises 3,800 m[sup]2[/sup] of air conditioned office space with 146 car ...
-
PropertyEU Archive
Philips aims to save millions on real estate
Dutch electronics company Philips plans to save hundreds of millions of euros on its global real estate in the next five years, according to Kees van der Linden, director of Philips Real Estate. The emphasis will be on Europe. Philips annually spends some EUR 1 bn on maintaining its factories, ...
-
PropertyEU Archive
Belgian state property sell-off to continue
The Belgian federal government is widely expected to continue to sell government buildings in the coming years in order to balance its budget, whatever the outcome of the elections on June 10 and in spite of rising criticism from political parties from left and right. Last year, the government sold ...
-
PropertyEU Archive
Develica Deutschland buys office portfolio
Develica Deutschland said it has acquired a portfolio of five office buildings in Mannheim, southwestern Germany for EUR 19 mln, including costs. The transaction reflects a net yield of 7%. The offices are let predominantly to international corporations. The total lettable space of 17,000 m[sup]2[/sup] generates an annual rent of ...
-
PropertyEU Archive
XXI Century to build 13 hotels
XXI Century Investments has signed an agreement with France's Accor Group for the construction of 13 hotels in Ukraine. The two partners will complete four five-star hotels in Kiev by 2010 along with nine three-star hotels in other Ukrainian cities.
-
PropertyEU Archive
Natixis to sell EUR 220m HQ in Paris
Natixis has announced it is selling its headquarters to an unnamed private investor for an estimated EUR 220 mln. The company added that the deed of the sale is due to be signed in September 2007. The properties are located at 45,51 and 24 Rue Saint Dominique and 18 Rue ...
-
PropertyEU Archive
European property returns hit 6-year high
The huge inflow of investment into European commercial real estate and rising prices for offices and malls helped push returns for the sector last year in euro terms to 14%, up from 13% in 2005. This is the highest level since 2001, the London-based Investment Property Databank (IPD) said.
-
PropertyEU Archive
Altarea to buy Cogedim for EUR 650m
French developer Altarea said it has entered into exclusive talks for the purchase of the Cogedim group for EUR 650 mln. Altarea will initially pay 60% of the amount, while another 36% will be paid without interest in the next three years and the remaining 4% will depend on the ...
-
PropertyEU Archive
Realia raises EUR 783m in IPO
Spain's Realia has raised EUR 783 mln in an initial public offering that missed the company's goal of EUR 7.9 to EUR 9.7 per share because of the slowing property market in the country. Realia, the first Spanish developer to seek a listing this year, sold its shares at a ...
-
PropertyEU Archive
Proudreed spends EUR 83m across France
Proudreed has acquired 22 commercial properties across France for a total of EUR 83 mln. The transaction represents a yield of 8.09%, French newspaper Business Immo reported. Jean-Pierre Raynal, president of Proudreed France, said that the yield may come to 9.71% after reduction of the current vacancies in two ...
-
PropertyEU Archive
Standard Life makes first acquisitions in Sweden
Standard Life Investments has made its first acquisitions in Sweden on behalf of its European Property Growth Fund (EPGF) for EUR 35 mln. The first transaction involved a terrace of four retail warehouse units in the north of Stockholm. The buildings provide a total of just over 4,000 m[sup]2[/sup] of ...
-
PropertyEU Archive
Hilton Hotels launches new venture in Russia, UK and America
Hilton Hotels Corporation (HHC) is teaming up with three major developers to introduce more than 15 new hotels in the Caribbean and Central America, 25 hotels in Russia and at least 15 hotels in the UK by 2012. HHC has agreed to work with Caribbean Property Group for development within ...
-
PropertyEU Archive
Astroc poised to take over Landscape, Rayet Promocion
Spanish real estate developer Astroc Mediterraneo is studying a merger with Landscape Promocions Immobiliaries and Rayet Promocion, ceo Juan Antonio Alcaraz Garcia said. The company's board has asked Alcaraz Garcia to 'initiate' the process for a merger with the two companies, in which Astroc currently owns about 50%.
-
PropertyEU Archive
The first pan-European salary & benefits survey
Following the success of previous surveys undertaken in the UK and Asia, RICS and Macdonald & Company have launched the first annual salary and benefits survey in continental Europe.
-
PropertyEU Archive
Orco launches capital increase
Orco Property Group is planning to place up to 1.3 million new shares with institutional investors to finance expansion in Central and Eastern Europe. The price of the share issue will be announced on 14 June 2007. Citigroup Global Markets is acting as sole global co-ordinator, sole bookrunner and ...
-
PropertyEU Archive
Oregan snaps up Victoria office complex
Irish company Oregan Financial is paying some £70 mln (EUR 103 mln) fo the office block at 10-18 Victoria Street in London's West End. The transaction value reflects an initial yield of 4.2%. The 7,350 m[sup]2[/sup] property is fully let to the British secretary of state for a further 19 ...
-
PropertyEU Archive
HDG to list Shariah property fund in Dubai and London
HDG Mansur, an investment company with EUR 1.7 bn of property assets, is to sell shares in its Shariah-compliant Al-Umran Global Property Fund (AGPF) on the Dubai International Financial Exchange. The fund will also trade though global depositary receipts on the London Stock Exchange. HDG expects the listing to raise ...
-
PropertyEU Archive
Fonciere des Murs snaps up 102 Quick restaurants
French property group Fonciere des Murs is acquiring 102 properties in France from Belgian fast-food chain Quick for a total of EUR 316 mln. The transaction is a sale-and-lease back agreement under which Quick will rent the assets back for a minimum of 12 years, renewable three times for a ...
