All Real Assets articles in Web Issue – Page 99
-
PropertyEU Archive
Vector cuts IPO price range by 20%
Vector Hospitality cut the price range of its flotation on Wednesday from 995p-£11.15 to 875p-900p, after insufficient interest from investors. Vector, which is planning to convert to the UK's first hotel real estate investment trust (REIT) once it has floated, had to lower the price range by about 20%, despite ...
-
PropertyEU Archive
Dawnay Day Sirius completes EUR 206m buy
Dawnay Day Sirius (DDS), a real estate company established by Dawnay Day and Sirius Facilities to focus on German commercial real estate, has completed the acquisition of 20 properties with 390,000 m[sup]2[/sup] of combined lettable space. The properties, representing the company's initial portfolio, have been independently valued by property advisor ...
-
PropertyEU Archive
Apollo RE, Hark buy Telford mall for EUR 652m
Telford Shopping Centre in the UK was sold on Wednesday for £442 mln (EUR 652 mln) to American company Apollo Real Estate and private development company Hark Group. The joint venture has bought the 93,000 m[sup]2[/sup] mall from the Universities' Superannuation Scheme (USS), a UK pension scheme. Last November USS ...
-
PropertyEU Archive
Shurgard Europe to raise EUR 752m in IPO
Shurgard Europe, the largest owner of self-storage units in Europe, is planning to raise as much as EUR 752 mln in an initial public offering (IPO) on Euronext Brussels. Shurgard, a unit of California-based Public Storage, is offering about 44 million new shares at a price of EUR 12.50 to ...
-
PropertyEU Archive
GE RE makes acquisitions in Spain and Sweden
GE Real Estate Iberia has acquired a logistics warehouse development from Mafort, a Valencian property company, in the Masiá Balo de Ribarroja industrial park, only 15 km from the centre of Valencia. The transaction value is EUR 44 mln. The project comprises a 44,000 m[sup]2[/sup] logistics warehouse that is scheduled ...
-
PropertyEU Archive
Citycon buys into retail properties in northern Sweden
Finnish commerical property company Citycon hass completed the acquisition of a 75% stake in the Swedish real estate company Balticgruppen Handel for SEK 490 mln (EUR 53 mln). Balticgruppen Handel owns a shopping centre in Strömpilenand and a retail property in Umeå, northern Sweden. Both assets feature extensive expansion and ...
-
PropertyEU Archive
Epra names new ceo
The European Public Real Estate Association (Epra) has appointed Philip Charls (58), as its new chief executive officer, with effect from 1 October 2007. Charls, currently general manager of the Dutch Chamber of Commerce for Belgium and Luxembourg, will succeed Nick van Ommen (60) who has led Epra as ceo ...
-
PropertyEU Archive
CGG steps up Milan presence
Commerz Grundbesitz Group (CGG) has invested EUR 60 mln in an office building located in the north of Milan. The property is earmarked for the Group's open-end property retail fund, hausInvest europa. Built in 1989, the premise comprises a lettable floor space of 23,000 m2, as well as 341 parking ...
-
PropertyEU Archive
German students win ULI European design competition
A team of students from IREBS University Regensburg and Hafencity University in Hamburg have won the first European Student Design Competition organised by the Urban Land Institute. The award-winning concept for a new development at Hamburg's waterfront was announced on Wednesday at the ULI Trends Conference in Hamburg.
-
PropertyEU Archive
'Hamburg is transforming into lively metropolis'
A new spirit of cooperation between politicians and the business community is helping transform the city of Hamburg into a lively new metropolis, according to Alexander Otto, ceo of Hamburg-based project developer ECE. 'There was a lot of mistrust in the past, but a lot has happened in recent years ...
-
PropertyEU Archive
KarstadtQuelle poised to sell Highstreet stake
KarstadtQuelle is planning to raise some EUR 1 bn from the sale of its stake in the real estate company Highstreet. The sale will be completed by the end of September, German newspaper Immobilien Zeitung reported. Highstreet is a joint venture between real estate investment fund Whitehall (51% stake) and ...
-
PropertyEU Archive
Tishman Speyer fund raises EUR 1 bn
Tishman Speyer has raised EUR 1 bn for its new, value-added European Real Estate Venture VI (TSEV) during the final close of the fund. The capital will bring the fund's total buying capacity to EUR 4 bn, the company said in a press release. Over 40% of the capital raised ...
-
PropertyEU Archive
Uni-Invest seeks EUR 300m listing on Euronext
Uni-Invest is planning to seek a listing on Euronext Amsterdam this month. The Dutch commercial property company hopes to raise about EUR 310 mln through the flotation, which is aimed at funding further acquisitions in the Dutch office and industrial property markets.
-
PropertyEU Archive
Sponda signs EUR 350 mln syndicated credit facility
Sponda has signed a five-year EUR 350 mln syndicated credit agreement to refinance the outstanding short-term loan raised in December 2006 to finance the acquisition of Finnish peer Kapiteeli. The lead managers of this issue are Nordea, OKO Bank, Skandinaviska Enskilda Banken, Helsinki Branch, and the manager is Swedbank. The ...
-
PropertyEU Archive
Reit snaps up £425m Evan's portfolio
Reit Asset Management emerged as the winner of the auction for Evan's Property Group's 275-building UK portfolio. Reit, run by tycoon Leo Noe, beat major US and UK investors in the bidding for the £425 mln (EUR 627 mln) portfolio put up for sale earlier this year, Bloomberg reported.
-
PropertyEU Archive
Bank of England keeps interest rates at 5.50%
The Bank of England voted on Thursday to keep its benchmark interest rates on hold at 5.50%. 'The recent fall in inflation has not been as dramatic as hoped, but other indicators of a cooling economy have provided enough evidence for the Bank to hold fire on raising interest rates. ...
-
PropertyEU Archive
Warburg-Henderson buys Munich property for EUR 60m
Warburg-Henderson Kapitalanlagegesellschaft für Immobilien (KAG) has bought the administration buildings of the ARAG insurance company in Munich for EUR 60 mln. ARAG will lease the properties back for a period of two years. The 17,000 m[sup]2[/sup] asset is earmarked for Warburg-Henderson's German fund NR. 1. The company said it intends ...
-
PropertyEU Archive
Caring buys Annabel's club for £95m
Entrepreneur Richard Caring is expected to finalise the buy-out of Annabel's, the upmarket Mayfair nightclub and celebrity hang-out, for an estimated £95 mln on Thursday, according to reports in several UK newspapers. Mark Birley, the club's founder and owner since 1963, is said to have agreed a deal on Wednesday ...
-
PropertyEU Archive
Prupim acquires Lufthansa's new HQ
Prupim, the London-based real estate investment giant, has entered into a forward commitment to purchase the development of Lufthansa's new flagship headquarters in Cologne, Germany. The 19,000 m[sup]2[/sup] property was acquired from Commerleasing and Immobilien on behalf of the M&G European Property Fund for an undisclosed amount. Lufthansa has ...
-
PropertyEU Archive
CA Immo acquires City Deco project in Prague
Austrian property investment company CA Immo has strengthened its position in the Czech Republic with the purchase of the mixed-use City Deco project in Prague from ECM Real Estate Investments for about EUR 47 mln. City Deco is part of the City project in the Pankrac district of Prague. Some ...
