Thursday, 28 May 2015
Barcelona-based listed Colonial has raised ¤1.25bn in the largest-ever issue of notes, comprising two series of four and eight years duration, with an average coupon of 2.2%. The issue came after winning an investment grade rating and was substantially oversubscribed.
Taiwanese insurer Fubon Life has partnered with German listed property manager Patrizia to buy the world-renowened Madame Tussauds waxworks museum in London for £349m from local Secure Income REIT.
British REIT Hansteen Holdings has agreed to buy 13 multi-let and single-let industrial properties across Germany for an initial yield of 12.86%. The purchase, at just ¤21.65m from Benelux Industrial Partners, is due to complete in June.
French investment group Mi29/Eurobail, headed by Nicolas Huang who made a corporate raid last year on REIT SIIC Tour Eiffel, has acquired the 4-star Novotel Paris Centre Tour Eiffel hotel in Paris for a reported price of just over ¤200m.
Italy's largest cooperative bank, listed lender Banco Popolare, has selected Milan-based property manager Hines Italia, an affiliate of the giant US developer, and associated firm Coima to manage of its non-core real estate.
Institutions have yet to wake up to the full potential offered by global infrastructure investment, says Deutsche Asset & Wealth Management, part of Deutsche Bank. The gap between actual and target allocations shows wide room for growth.
Private investment group GMP, the store chain El Corte Inglés and the city administration are combining to renovate the Azca, the business district of Spanish capital Madrid. They have already allocated nearly ¤4bn.
The return of credit to Spanish households and favourable employment trends produced a surge in housing demand last year, and Spain's Ministry of Public Works said 46,795 news homes were completed, well above 2013 albeit less than one-tenth of the 2006 high.
French residential property firm Powerhouse Habitat, owned by UK-based TwentyTwo Real Estate, is to make an initial public offering to help finance a doubling of its portfolio to ¤3bn, and aims at REIT/SIIC status by next January.
Finnish listed shopping centre group Citycon aims to grow further after its ¤1.47bn purchase of Norway's Sektor group, said Chaim Katzman, chairman of US-Israeli Gazit-Globe which controls it - and he compared Citycon's expanded Nordic portfolio of 55 malls with the 200 Gazit controls in Canada, of similar size.
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