Goldman Sachs and UK duo seize Suez portfolio
Article Abstract:
Shaftesbury International, headed by Miles D'Arcy-Irvine, and Vines Management, formed by Martin Myers, are joining a consortium headed by Goldman Sachs' Whitehall Street Real Estate fund which is to purchase a portfolio of distressed loans and properties in France from Groupe Suez. The portfolio has a book value of 97 million pounds sterling, and it is thought that the consortium is paying just over half this sum. The property element includes an office and retail property in the eighth arrondissement in Paris, France.
Publication Name: Estates Gazette
Subject: Real estate industry
ISSN: 0014-1240
Year: 1996
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Hermes secures stake in French investment group
Article Abstract:
Societe Fonciere Lyonnaise, one of France's traditional property investment groups and a subsidiary of UK insurance concern Commercial Union, will have a 24% stake taken by Hermes Pension Fund Management in return for gaining control of the high-profile Louvre des Antiquaires building in Paris, France. The building covers 431,000 sq ft, and is a mix of office and retail space. It was Hermes' largest single overseas property asset.
Publication Name: Estates Gazette
Subject: Real estate industry
ISSN: 0014-1240
Year: 1995
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The nervous nineties
Article Abstract:
There has been very little speculative office property development in the UK over the last few years, and this has led some observers to predict a shortaage of supply in some office markets. Few banks and financial institutions are now prepared to finance speculative development, and developers too are more cautious than they were in the late 1980s. Development is also being held back by limited occupier demand.
Publication Name: Estates Gazette
Subject: Real estate industry
ISSN: 0014-1240
Year: 1995
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