Queensgate Investments LLP (“Queensgate”), a private equity real estate fund manager set up by Jason Kow and LJ Group, has secured a strategic investment from Peterson Group, into a new fund, Queensgate Investments Fund II.
QIF II is a pan-European real estate fund that will focus on assets which provide predictable income and multiple value-add opportunities. Queensgate will work with Peterson Group to develop and advise QIF II.
Queensgate manages around £850 million (approx. €1 billion) of assets, including the development by the O2 arena on London’s Greenwich Peninsula of the 452-bed The InterContinental London, The O2 Hotel and adjoining conference center, which will be Europe’s largest, and more than 140 apartments.
Jason Kow, Chief Executive of Queensgate, said: “Partnering with a flexible, nimble and long-term investor, like Peterson, is a strategic move for Queensgate not only in terms of greater equity firepower but also the ability to acquire larger and more exciting opportunities”.
The post Queensgate Investments establishes strategic partnership with Peterson Group (EU) appeared first on europe-re.
Kennedy Wilson Europe Real Estate plc announced that it has entered into agreements to acquire the Elliott loan portfolio secured by assets in Ireland, and the Marshes Shopping Center in Dundalk, Ireland, both of which will complement the Company’s existing Irish portfolio, for an aggregate consideration of €120 million.
The Company has entered into an agreement with Ulster Bank Ireland Limited to acquire the Elliott loan portfolio secured against a portfolio of 13 real estate assets, comprising primarily offices, industrial, retail and residential properties for an aggregate consideration of €75 million.
The assets within the Elliott loan portfolio have significant asset management opportunities to lease up vacant space, stabilize income through tenant re-gears, and re-position assets to maximize income. The acquisition is expected to complete in early September 2014.
The Company has entered into another agreement with Marshes Shopping Center Limited to acquire the Marshes Shopping Center in Dundalk, Ireland for an aggregate consideration of €44.5 million. Completed in 2005, the Marshes Shopping Center comprises 39 retail units and a food court. The acquisition is expected to complete at the end of August 2014.
Mary Ricks, President and CEO of Kennedy Wilson Europe, commented on the acquisitions: “We are very pleased with our two new acquisitions. The Elliott loan portfolio is secured against a good quality mix of Irish properties strongly weighted towards the office, residential and retail sectors. These assets, along with the Marshes Shopping Centre, also provide for strong upside potential through interesting asset management plays and a relatively long WAULT.”
The post Kennedy Wilson Europe Real Estate acquires a €120 million portfolio of Irish assets (IE) appeared first on europe-re.
Hines, the international real estate firm, announced today that its Pan-European Core Fund (HECF) has aquired Caleido in the CBD of Stuttgart, from Hochtief Projektentwicklung GmbH.
The 18,700 m², newly developed building is located in Stuttgart’s city center, next to the new “Gerber” shopping center (due to open in September 2014). Over six floors, the DGNB silver certified property provides office, retail and residential accommodation as well as an upmarket gym space. Main office tenant is ELO Digital, a provider for digital storage solutions.
“With the acquisition of Caleido, HECF was able to acquire an attractive prime property which exemplifies the quality focus of the fund” explains Ken MacRae, Managing Director Hines Luxembourg. “Against the backdrop of the positive development of the Stuttgart market and with its stable and broad-based tenant mix, the asset is well-suited for a long-term investment.”
The acquisition of Caleido expands Hines’ growing asset management portfolio of prime office buildings in Stuttgart, which includes the recent acquisition of Kronprinzbau as well as the headquarters of Mercedes-Benz Bank.
Emanuel Coskun, Director of Hines Germany, said: Stuttgart is one of Germany’s most stable markets. With its prominent position at the Southern edge of Stuttgart’s city ring road, “Caleido” combines strong credit tenant as well as appealing architecture in this up-and-coming part of the city centre.”
Source: Forum Event
The post Hines’ Pan-European core fund acquires Caleido in Stuttgart, Germany (DE) appeared first on europe-re.
Vastned, the listed European retail property company focusing on venues for premium shopping, expands its presence in Ghent (Belgium) and Lyons (France), which is fully in line with Vastned’s strategy focussing on growth in premium cities.
Vastned acquired the high street shops at Veldstraat 23-27 in the city center of Ghent for €27.7 million. The shop is located in the best part of the Veldstraat on the corner of the Bennestraat. The Veldstraat façade is 25 meters wide and the Bennestraat façade 28 meters. The shop is let to leading international fashion retailer H&M and has a shopping surface of 1,025 m² on the ground floor and 850 m² on the first floor. Additionally, there is some storage and staff space on the first and second floor. In total, the property has a gross lettable area (GLA) of 2,590 m².
Cushman & Wakefield was the advising party in the acquisition. Vastned already had a presence in premium city Ghent with high-street shops in Veldstraat, Zonnestraat and Volderstraat let to e.g. G?Star RAW, Ulla Popken, and SportsDirect.com. Vastned’s portfolio in Ghent has grown to approximately €44 million.
In Lyons, Vastned has acquired a high street shop in city’s luxury street Rue Édouard-Herriot at number 70 for €2.6 million. The acquisition in Lyons concerns a prominent corner shop with a GLA of about 165 m², let to the French luxury fashion retailer Sandro. Lyons is one of the premium cities where Vastned intends to increase its presence; this acquisition is the second in the historical centre of Lyons.
The post Vastned invests €30 million in premium city high-street shops in Ghent and Lyons Copy (EU) appeared first on europe-re.
pbb Deutsche Pfandbriefbank has provided a €72 million loan to affiliated companies of Cerberus Capital Management L.P. These affiliates will use the funds to purchase a maturing mortgage loan that will subsequently be converted into a long-term real estate loan. The relevant loan agreements were signed in June 2014.
The loan receivable purchase was part of a larger loan portfolio acquired by Cerberus affiliates. The financing will be converted into a long-term real estate loan upon acquisition of the commercial properties, which will take place via assumption of liabilities. With this transaction, pbb has financed the acquisition of a loan receivable for the first time prior to the transfer of title to the financed properties.
The commercial real estate portfolio includes seven retail properties in good to very good micro locations of major cities in Western and Southern Germany. Cerberus plans to significantly revitalize the properties. With Estama Real Estate Management, Cerberus has retained an experienced asset manager that specializes in the retail sector and is familiar with the portfolio, having served as property manager for the portfolio for several years already.
Gerhard Meitinger, Head of Real Estate Finance Germany at pbb Deutsche Pfandbriefbank, said: “This complex financing clearly demonstrates pbb’s strong structuring skills. In a first step, the bank provided a loan, collateralized by a real estate lien, to purchase a maturing loan. In a second step, this loan will be converted into a long-term real estate financing. I am pleased that pbb was able to structure this facility for Cerberus, continuing our long-standing and successful business relationship.”
Source: pbb Deutsche Pfandsbriefbank
The post pbb Deutsche Pfandbriefbank provides €72 million financing for Cerberus (DE) appeared first on europe-re.
Die „Initiative Corporate Governance der deutschen Immobilienwirtschaft e.V.“ (ICG), im Jahre 2002 mit Sitz in Berlin gegründet mit dem Ziel, einen Immobilien-Kodex zu entwickeln, der auf den Grundsätzen ordnungsmäßiger und lauterer Geschäftsführung der Immobilienwirtschaft basiert, hat bereits früh die internationale Bedeutung von Qualifizierung durch Zertifizierung erkannt und hierzu das Zertifikat „ComplianceManagement“ für die deutsche Immobilienwirtschaft entwickelt und eingeführt.
Quelle: ImmobilienScout24 News "Rund um die Immobilie" | 31 Jul 2014, 12:29 pm
Unibail-Rodamco and Carmila have entered into an agreement pursuant to which Carmila offers to acquire a portfolio of six non-core shopping centers anchored by Carrefour and located in France.
The total consideration of the proposed transaction amounts to €931 million, representing an average value per m² of €7,280/m².
Further to this agreement, Unibail-Rodamco has granted Carmila an exclusivity period ending on October 15, 2014. During this period, the respective work councils of Carmila and Unibail-Rodamco will be consulted, before the signing of the final and binding documentation expected in September 2014.
The proposed transaction is not expected to impact the recurring earnings per share growth guidance of at least +5.5% for 2014. The closing of the transaction is expected to occur in Q4-2014.
“Through this agreement with Carmila, we are pleased that Unibail-Rodamco, Europe’s largest commercial property company, has been able to quickly and efficiently deliver on its stated goal of further reshaping its portfolio to focus on assets with the highest return potential. Carmila is the natural owner of these shopping centers, anchored by large Carrefour hypermarkets. We are sure that Carmila will be able to generate significant synergies and returns consistent with the requirements of its shareholders. A true “win-win” transaction.” Christophe Cuvillier, CEO and Chairman of the Management Board said.
Source: Unibail – Rodamco
The post Unibail-Rodamco to sell a €931 million portfolio of six shopping centers in France to Carmila (FR) appeared first on europe-re.
SEGRO plc announced that it has acquired the 50% interest in its Logistics Property Partnership joint venture previously owned by Moorfield Real Estate Fund II for £95.6 million (approx. €120.7 million).
LPP was established in 2012 by SEGRO and MREF II to acquire the UK Logistics Fund and was jointly managed by SEGRO and Moorfield.
The Portfolio comprises 12 high quality logistics warehouses totalling 377,000 m², predominantly located in the South East and Midlands, and occupiers include major retailers and logistics providers including Sainsbury’s, Tesco, Booker, Royal Mail and DHL.
The acquisition is aligned with SEGRO’s strategy of expanding its presence in its target logistics markets and of reducing the number of smaller joint ventures in the Group.
Commenting on the acquisition, SEGRO’s Chief Executive Officer, David Sleath, said: “This transaction provides us with a rare opportunity to acquire, off-market, a portfolio of high quality UK logistics assets with a strong customer line-up. We know the assets well, having successfully executed a number of asset management initiatives within the joint venture, including letting up all the space which was vacant at the time of acquisition. With occupier demand for logistics in the UK improving and supply conditions remaining tight, there are opportunities to realise further value from this attractive portfolio.”
The post SEGRO acquires 50% interest in LPP joint venture for £95.6 million (UK) appeared first on europe-re.
Valad Europe, the leading independent diversified real estate investment manager, has acquired a logistic asset in Thuringia, Germany, for €23 million. The investment was made on behalf of its Valad European Diversified Fund (VEDF) which invests in office, retail and logistics assets across Germany, France and the UK.
The 36,300 m² logistics building, Holzlandstrasse 1, Reichenbach, is let to Metro Logistics Germany GmbH, the logistics division of Metro Group, on a long lease until 2023. Located at Hermsdorfer-Kreuz, one of the major motorway intersections in the east of Germany and a growing regional logistics hub, the building has excellent transport links throughout the country.
Andreas Hardt, Valad Europe’s Head of Germany, commented: “The strategic location, strong covenant and long lease on this building make it an excellent investment and complement the portfolio of assets we are building for VEDF. The Fund has now invested circa €60 million in Germany so far this year across six assets, with a further €90 million under offer or exchanged. We have recently doubled VEDF’s total capacity to €1 billion and have in excess of €250 million still to invest in Germany, where we believe the fundamentals of the market remain strong and continue to provide attractive investment opportunities.”
Crem-Consult GmbH acted for Valad Europe on the transaction.
Source: Tavistock Communications
The post Valad acquires €23 million German logistics asset for Valad European Diversified Fund (DE) appeared first on europe-re.
Award-winning Warwickshire-based developer, IM Properties has completed the acquisition of Fore Business Park, near Solihull from BAM for £21 million (approx. €26 million).
Located on junction 4 of the M42, Fore Business Park features 66,000 ft² (6.131 m²) of existing office accommodation in two buildings – Fore 1 and Fore 2 – which were speculatively developed in 2009 and are currently at 85% occupancy.
John Hammond, Investment Director at IM Properties, said: “Fore Business Park offered us two high quality buildings with existing income streams from four very good tenants, with the majority of leases extending over 10 years. The M42 market has witnessed a dramatic turnaround in recent months, exhibiting a strong demand that has left little stock for tenants to consider, particularly in good quality buildings that are landlord controlled.
“The market is currently starved of buildings along the M42 corridor that offer larger floorplates, so we will be looking to remodel the existing planning consent in order to ensure that we are delivering a desirable, cost-effective solution for commercial occupiers. Whether we develop speculatively or wait for a pre-let will be dictated by the market.”
Martin Hill, development director for BAM Properties, said: “It speaks volumes about the strength of the M42 market that IM Properties has chosen to take the whole of the FORE business park development. They inherit some remaining letting potential in phase 1 and a superb consented site. It’s both an excellent investment for them and it’s proven to bear out the speculative development approach BAM adopts.”
Savills acted on behalf of IM Properties in the completion of the acquisition, with BAM represented by CBRE.
Source: IM Properties
The post IM Properties acquires Fore Business Park for £21 million (UK) appeared first on europe-re.
Rico Logistics, part of the Rico Group, is opening its office in Poland. The logistics operator has leased nearly 1,250 m² of warehouse and office space in Warsaw Distribution Center. Cushman & Wakefield, a leading global real estate services firm, represented the tenant in this transaction.
Founded in 1988, Rico is a pan-European logistics service provider with its head office in the United Kingdom. Apart from courier services for corporate clients, it also offers a wide range of other logistics solutions, including distribution and inventory management.
Warsaw Distribution Center is a modern warehouse and office complex located in Szyszkowa Street in Warsaw. With its proximity to the Ok?cie international airport and availability of warehouse modules of 380 m² plus, it is an attractive destination for small and mid-sized tenants interested in leasing warehouse space in Warsaw. The logistics park comprises five buildings totalling 35,000 m² of warehouse and office space. The scheme is owned by a fund managed by CBRE Global Investors.
In Köln ist der Wohnungsmarkt hart umkämpft. Mit dem Konzept „Wohnen auf Zeit“ finden Wohnungssuchende auch kurzfristig eine zentral gelegene Wohnung.
Gerade in Groß- und Universitätsstädten ist es schwierig, kurzfristig eine zentral gelegene Wohnung zu bezahlbaren Preisen zu finden.
Quelle: ImmobilienScout24 News "Rund um die Immobilie" | 31 Jul 2014, 9:02 am
Kassel, 30.07.2014 – Das Büro „Wuttke & Ringhof Architekten“ gewinnt den städtebaulichen Ideenwettbewerb der IMMOVATION AG für ein Teilgebiet der ehemaligen Jägerkaserne in Kassel. Aufgabe war der Entwurf einer baulichen Struktur für verdichtetes städtisches Wohnen.
Mehrere Monate beschäftigten sich Architekten, Stadtplaner und Landschaftsarchitekten intensiv mit der Entwicklung einer städtebaulichen Gestaltungs- und Nutzungskonzeption für das Gebiet an der Bosestraße im Stadtteil Wehlheiden. Gefragt waren Vorschläge rund um den Schwerpunkt Wohnen: vom Geschosswohnungsbau mit Mietwohnungen, Stadtvillen mit Eigentumswohnungen über betreutes Wohnen bis hin zu Wohnraum für Studenten.
Quelle: ImmobilienScout24 News "Rund um die Immobilie" | 30 Jul 2014, 1:52 pm
Wer längere Zeit – ob beruflich oder privat – in Essen verbringt, sucht nach einer Alternative zum Hotel - Mobilität, Flexibilität: In der modernen Arbeitswelt ist es normal geworden, dass Arbeitnehmer längere Zeit in fremden Städten leben und arbeiten. Um sich auch dort, fern von Familie, Freunden und Heimat, wohl zu fühlen, ist eine möblierte Wohnung auf Zeit ideal.
Quelle: ImmobilienScout24 News "Rund um die Immobilie" | 29 Jul 2014, 9:47 am
Zeige 1–20 von 151 | « ZURUECK | VOR » | News nach Datum sortiert
Anzeige: Immobilien Schiff ist spezialisiert auf private Immobilien in Trier. Wohnungen, Häuser und Appartements gehören zu unserem Portfolio. Verkäufer und Vermieter zahlen keine Provision für den Immobilienmakler Service bei uns.