Latest reports – Page 2961
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PropertyEU Archive
Quantum buys three Karstadt stores for EUR 250m
German property company Quantum Immobilien KAG said it has bought three Karstadt department stores belonging to the Highstreet portfolio for around EUR 250 mln.
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PropertyEU Archive
Sogecap purchases D2 Tower development rights
The French public management entity for the development of La Défense Seine Arche, Epadesa, said on Tuesday that it has agreed a sale to Societe Generale's life insurance arm Sogecap of an additional 43,400 m[sup]2[/sup] of development rights as part of the D2 Tower development project in the Parisian business ...
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PropertyEU Archive
LVMH to invest EUR 450m in Paris Samaritaine hotel
French luxury goods group LVMH has announced plans to invest EUR 450 mln to convert the landmark La Samaritaine department store in Paris into a mixed-use complex with a Cheval Blanc hotel. The development is said to be the largest privately funded construction project ever undertaken in Paris.
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PropertyEU Archive
Redevco, Carrefour agree lease termination in Belgium
Retail property specialist Redevco said on Tuesday that it has signed a long-awaited agreement with French retail group Carrefour regarding the termination of the lease contracts on six hypermarkets as well as the downsizing of four others properties in Belgium.
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PropertyEU Archive
TMW Pramerica to liquidate open-ended Weltfonds
TMW Pramerica Property Investment, the German arm of Pramerica Real Estate Investors, has announced plans to liquidate its open-ended real estate fund, TMW Immobilien Weltfonds. In a statement on Tuesday, Pramerica said this decision was made 'despite all efforts and upon thorough review of all possible liquidity procurements'.
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PropertyEU Archive
Eroski sells 7 hypermarkets in Madrid
French retail group Leclerc has acquired a portfolio of seven hypermarkets in the vicinity of Madrid from the Basque supermarket and foodstore retailer Eroski for an undisclosed amount.
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PropertyEU Archive
Investor demand for CEE retail strongest since 2008: C&W
Investor demand for prime retail assets in Central Europe is at its strongest since the market collapsed in 2008, according to Cushman & Wakefield. The property adviser says in a new report that investors are seeking increased exposure to select Central European economies - notably Poland and the Czech Republic ...
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PropertyEU Archive
Degi Intl sells in London, prepares further sales
Germany's Aberdeen Immobilien Kapitalanlagegesellschaft said on Monday that its frozen Degi International open-ended real estate fund has sold an office building in London to an unnamed institutional investor for £60 mln (EUR 70 mln).
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PropertyEU Archive
Rinascente owners agree EUR 260m sale to Central Retail
Shareholders in the Italian department store group Rinascente have approved the sale of the operational company to Centrail Retail Corporation (CRC), Thailand's largest retail group, for EUR 205 mln in cash and the assumption of EUR 55 mln in debt.
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PropertyEU Archive
UBS snaps up Berne's Wankdorf Center
The real estate fund management arm of Swiss bank UBS has announced the acquisition of the Wankdorf Center in Berne, Switzerland for an undisclosed sum. The vendor is Cologne-based Wankdorf-Center Bern Dr. Karl Bartel.
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PropertyEU Archive
Union Investment seeks new hotel partnerships
German fund manager Union Investment Real Estate intends to strengthen its position in the European hotel investment market by entering into new strategic partnerships.
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PropertyEU Archive
Hines eyes sale of BC Ducat Place III in Moscow
US privately held investor and developer Hines is in negotiations to sell its flagship BC Ducat Place III office development project near the Mayakovskaya metro station in Moscow. The business centre, offering some 50,000 m[sup]2[/sup] of space, could fetch up to $300 mln (EUR 247 mln), according to reports in ...
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PropertyEU Archive
King Sturge is good fit for JLL, Ulbrich tells PropertyEU
Christian Ulbrich, chief executive officer for EMEA at Jones Lang LaSalle, tells PropertyEU why King Sturge is such a good fit. The merger of the two firms will create a firm with a presence in 70 EMEA markets across 30 countries.
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PropertyEU Archive
HIH makes first acquisition in Vienna
German investor HIH Global Invest has made its first acquisition in Vienna with the purchase of a mixed-use scheme from Austrian listed property group Immofinanz for just over EUR 29 mln. The deal is in line with HIH's strategy to diversify its portfolio through acquisitions abroad.
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PropertyEU Archive
Caja Madrid puts Madrid HQ on the market
Spanish bank Caja Madrid has hired Aguirre Newman to sell its Torre Kio headquarters on Madrid's Plaza de Castilla in a sale-and-leaseback transaction worth over EUR 200 mln. Developed by Kuwait Investments Office, the scheme offers some 30,000 m[sup]2[/sup] of office space and a parking lot.
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PropertyEU Archive
Hamborner buys retail asset in Langenfeld
German REIT Hamborner has acquired a retail asset in the pedestrian area of Langenfeld in Germany from a company of the Sass family. The investment volume of over EUR 17 mln reflects a gross initial yield of 6.6%.
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PropertyEU Archive
Capco appoints Covent Garden director
Uk listed property company Capital & Counties Properties (Capco) has appointed Sarah-Jane Curtis as director of Covent Garden starting from September. Curtis will take responsibility for the leasing, development and asset management functions of Covent Garden and will work closely with Bev Churchill, Capco's marketing director, in developing the Covent ...
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PropertyEU Archive
InfraRed plans new Asian funds
InfraRed Capital Partners is planning new fund launches in Asia. InfraRed - which was rebranded from HSBC Specialist Investments following a management buyout - is in the process of capital raising for its third greenfield infrastructure fund, which had its first $ 580 mln (EUR 409 mln) closing in March ...
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PropertyEU Archive
Europe CMBS market sets default record in April
Defaults on European commercial mortgage-backed securities (CMBS) hit a record high in April as 12 new loans became delinquent in the period, according to rating agency Standard & Poor's. This is the highest monthly number since S&P started covering the market in 2008.
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PropertyEU Archive
Citycon bets on Baltic rebound
Citycon has the potential and the appetite to double its portfolio in the next four-to-five years, newly appointed chief executive Marcel Kokkeel has said in an interview with PropertyEU.
