{"id":1003829166,"date":"2008-07-17T12:00:00","date_gmt":"2008-07-17T20:00:00","guid":{"rendered":"https:\/\/64.70.41.235\/2008\/07\/17\/european-real-estate-firm-set-for-1-3b-investment\/"},"modified":"2022-12-08T09:45:43","modified_gmt":"2022-12-08T17:45:43","slug":"european-real-estate-firm-set-for-1-3b-investment","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/european-real-estate-firm-set-for-1-3b-investment\/","title":{"rendered":"European Real Estate Firm Set for $1.3B Investment"},"content":{"rendered":"<p>CPI\/Gazit Holdings Ltd., a joint venture involving Tel Aviv-based international real estate investment company Gazit-Globe Ltd. and CPI Austria Holdings Ltd can take the next step in its planned investment of as much as $1.3 billion in Meinl European Land Ltd., now that  Meinl certificate holders have given the deal the go-ahead. CPI\/Gazit plans to rename the Channel Islands-headquartered real estate investment and development company Atrium European Real Estate.   Meinl presently has a portfolio consisting predominantly of retail assets across Central and Eastern Europe. As of the close of 2007, the company owned 162 properties with an aggregate market value of approximately $3 billion, in addition to development projects carrying an ultimate investment price tag of $5.2 billion, and nearly 445 acres of land.    CPI\/Gazit&#8217;s anticipated billion-dollar equity infusion will come in the form of a subscription for $800 million of convertible securities and a potential $476 million rights issue to Meinl certificate holders. The investment deal will result in the appointment of new board members and the incorporation of Meinl&#8217;s management into in-house operations. If all goes as planned with the transaction, the joint venture expects to waste precious little time upgrading Meinl&#8217;s shopping centers. Additionally, the acquisition of existing properties and new developments will also be a priority. At the core of Atrium&#8217;s corporate strategy, however, will be the pursuit of the company&#8217;s evolution into one of Europe&#8217;s leading real estate investment and development concerns.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CPI\/Gazit Holdings Ltd., a joint venture involving Tel Aviv-based international real estate investment company Gazit-Globe Ltd. and CPI Austria Holdings Ltd can take the next step in its planned investment of as much as $1.3 billion in Meinl European Land Ltd., now that Meinl certificate holders have given the deal the go-ahead. CPI\/Gazit plans to&hellip;<\/p>\n","protected":false},"author":1314,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742],"tags":[],"class_list":["post-1003829166","post","type-post","status-publish","format-standard","hentry","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>European Real Estate Firm Set for $1.3B Investment - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/european-real-estate-firm-set-for-1-3b-investment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"European Real Estate Firm Set for $1.3B Investment\" \/>\n<meta property=\"og:description\" content=\"CPI\/Gazit Holdings Ltd., a joint venture involving Tel Aviv-based international real estate investment company Gazit-Globe Ltd. and CPI Austria Holdings Ltd can take the next step in its planned investment of as much as $1.3 billion in Meinl European Land Ltd., now that Meinl certificate holders have given the deal the go-ahead. 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