Latest reports – Page 3037
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News
Kansas PERS makes $75m commitment to UBS Trumbull
GLOBAL – The Kansas Public Employees Retirement System has signed a contract to allocate $75m (€58.1m) to the UBS Trumbull Property fund, managed by UBS Realty Investors.
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News
Vasakronan makes Sweden's largest real estate purchase
SWEDEN – Vasakronan, the real estate company owned by Sweden's national buffer funds, has acquired the Blåmannen 20 city block in Stockholm, known as Klara Zenit, in its entirety for SEK4.35bn (€487m).
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PropertyEU Archive
Invesco's first hotel fund fully invested after Hannover purchase
Invesco Real Estate (IRE) announced on Monday that its first hotel fund is now fully invested following the purchase of its 17th hotel, the Novotel Hanover in Hanover, Germany. This brings the fund's total investments to about EUR 700 mln across nine European countries.
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PropertyEU Archive
ING REIM raises EUR 60m in first close of European mall fund
ING Real Estate Investment Management Europe (ING REIM Europe) has received EUR 60 mln in equity commitments in the first closing for its European Shopping Centre Fund (ESCF). The closed-end private real estate fund has a seven-year lifetime and will invest in shopping centres across Continental Europe.
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PropertyEU Archive
Heitman hires GE RE director
Chicago-based private equity firm Heitman has appointed David Brodersen as portfolio manager for its EUR 505 mln value-added fund Heitman European Property Partners IV (HEPP IV), which is led by Otis Spencer.
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PropertyEU Archive
Cornerstone launches Nordic Social Infrastructure Property Fund
Cornerstone Real Estate Advisers Europe (Cornerstone Europe) has announced it is beginning capital raising for its Nordic Social Infrastructure Property Fund (NSIPF), a new core fund tit is planning to launch to invest in public real estate assets let on long term inflation-linked leases to government or quasi-government tenants.
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PropertyEU Archive
Orion to buy 50% of Puerto Venecia scheme
UK-based private equity firm Orion Capital Managers is close to clinching the acquisition of a 50% stake in the Puerto Venecia shopping centre project in Zaragoza, northern Spain, well-informed market sources have told PropertyEU. The vendor is Spanish developer and investor Copcisa Corporación.
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PropertyEU Archive
FdR boosts capital by EUR 200m
Foncière des Régions (FdR) said on Monday that it has strengthened its capital by nearly EUR 200 mln after seeing nearly 100% of its outstanding equity warrants exercised. The warrants, with a subscription period covering the entire year 2010, were awarded to FdR shareholders at end-2009 on a ratio of ...
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PropertyEU Archive
Sorgente makes EUR 480m bid for Milan's Rinascente
Italian fund manager Sorgente is leading a consortium of Italian investors that has presented a EUR 480 mln offer to buy the historic Rinascente building at Milan's Piazza Duomo. The property is owned by the Retail & Entertainment fund, which is managed by Prelios (formerly Pirelli Real Estate) and is ...
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PropertyEU Archive
Viveris REIM completes EUR 82m of acquisitions in Paris
French fund manager Viveris REIM has announced three 'core' acquisitions in France on behalf of its Sppicav Delta Immo fund involving a total investment of EUR 82 mln, or a gross yield of 5.9%. In a statement on Monday, the company said it has bought a mixed-use building offering 4,200 ...
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PropertyEU Archive
LGP buys Fremlin mall in Maidstone for EUR 110m
Legal & General Property (LGP) has acquired Fremlin Walk Shopping Centre, Maidstone, from a joint venture between Europa Fund III, the pan-European fund managed by Europa Capital, and Scoop AM. The property was acquired for about £92 mln (EUR 110 mln).
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PropertyEU Archive
Henderson acquires Meixueiro Retail Park in Spain
Henderson Global Investors, on behalf of Warburg-Henderson's RZVK-Immo-Fonds, has acquired the Meixueiro Retail Park in Vigo, northern Spain, from Oralco for EUR 35 mln.
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PropertyEU Archive
FdM sells Mercure Paris hotel for EUR 41.5m
Foncière LFPI has bought the 388-room Mercure Paris Porte de Versailles hotel in Vanves, in the southwestern suburbs of Paris from Foncière des Murs (FdM). The transaction price amounts to EUR 41.5 mln.
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PropertyEU Archive
BNP Paribas launches new fund in Italy
BNP Paribas has officially launched its new fund Fondo Immobiliare - Comune di Milano II following the signing, at the end of December 2010, of an agreement with the Municipality of Milan, which is providing 50% of the real estate assets.
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PropertyEU Archive
Area acquires office development in Ile de France from Bouwfonds
Area Property Partners’ Apollo European Real Estate Fund III has signed an agreement to purchase the Le Skalen office development in Chatillon from Bouwfonds Marignan Immobilier through a forward purchase agreement (VEFA).
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PropertyEU Archive
Hochtief Projektentwiklung sells Berlin office
Hochtief Projektentwicklung, a subsidiary of German builder Hochtief, has sold the office building at Invalidenstrasse 91 in Berlin-Mitte to a Credit Suisse real estate fund. Financial details were not disclosed. The property has a gross floor area of around 9,000 m[sup]2[/sup].
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PropertyEU Archive
Union Investment sets up property management unit in France
German open-ended fund manager Union Investment Real Estate has acquired Euragone Asset Management, its longstanding French asset management partner, with effect from 1 January 2011. The new Paris-based subsidiary - Union Investment Real Estate France SAS - has a team of 12 staff and is responsible for Union Investment’s EUR ...
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PropertyEU Archive
Park Plaza in London hotel deal
Park Plaza Hotels Europe Holdings has acquired the interests in, and related loans to three hotels in London which it does not already own: the Park Plaza Sherlock Holmes Hotel, Park Plaza Victoria Hotel and Park Plaza Riverbank Hotel . The group acquired the properties from a subsidiary of Israeli ...
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PropertyEU Archive
King Sturge sees sentiment cooling in Germany
Notwithstanding the upward trend of the German economy as a whole, the December poll for the King Sturge Real Estate Economy Index suggests that sentiment in the real estate industry has cooled off slightly towards the end of 2010. In December, the survey-based Real Estate Climate dropped by 1.6% to ...
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PropertyEU Archive
Castellum buys in Stockholm
Swedish listed property company Castellum acquired five properties in the Stockholm area for a total of SEK 137 mln (EUR 15.3 mln) at the end of 2010 through its wholly owned subsidiary Fastighets AB Brostaden.
