Latest reports – Page 3122
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PropertyEU Archive
Union Investment sells office building in Seoul above book value
Hamburg-based fund manager Union Investment Real Estate has sold its 14-storey HI office building in Seoul to local investor Kochem Co for EUR 35.5 mln. The sale price is 36% higher than the original investment and approximately 30% above the most recent expert valuation.
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PropertyEU Archive
Shopping mall space in Bulgaria doubles: Colliers
The stock of contemporary shopping mall space in Bulgaria doubled in the first six months of 2010 with the opening of five new shopping malls, reaching 452,000 m[sup]2[/sup] in total, according to Colliers International’s retail market overview for the first half of 2010. At the same time, retailers are coming ...
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PropertyEU Archive
European investors ready to take on more risk: survey
Conditions for real estate investment continued to stabilise in the first six months of the year, particularly in Germany but also in France and the UK, accordnig to Union Investment's latest investment climate survey. The survey was conducted by market research institute Ipsos and involved 185 decision-makers at property companies ...
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PropertyEU Archive
Pension funds show increased appetite for real estate: survey
European pension funds are displaying an increased appetite for alternative investments, including real estate, according to the results of the 2010 European Institutional Asset Management Survey (EIAMS) published by Invesco on Tuesday. The findings point to an altogether more positive sentiment among institutional investors in 2009 compared to the previous ...
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PropertyEU Archive
L'Oreal partners with Colliers UFG
Colliers UFG PM, the French entity of Colliers International, has been selected to assist L'Oréal with the optimisation of its entire lease portfolio in Europe. The mission will be led by the Colliers Corporate Services Department based in Paris, which will benefit from the support of the various Colliers European ...
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PropertyEU Archive
Investment in London hits EUR 3.3b in Q2: C&W
Investment activity in London's commercial property market continued at a high level in the second quarter, with £2.78 bn (EUR 3.3 bn) transacted in the West End, City and Docklands markets, according to new statistics from property adviser Cushman & Wakefield. This marks a 70% increase on the previous quarter ...
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PropertyEU Archive
JLL and DTZ Zadelhoff to advise on ABN Amro branch sell-off
ABN Amro Bank said on Tuesday it has selected Jones Lang LaSalle and DTZ Zadelhoff to advise it on the sale of around 70 branch offices throughout the Netherlands in the wake of its merger with Fortis Bank. The sale process is scheduled to start in September, with valuation services ...
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PropertyEU Archive
Mall of Russia to open in early December
Listed Russian property developer AFI Development announced on Monday that its Mall of Russia retail centre in Moscow will open in the first week of December. The company said it expects approximately 70-75% of the development’s gross lettable area to be leased by the time of the opening.
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PropertyEU Archive
Unibail-Rodamco gets conditional approval for Simon Ivanhoe acquisition
Unibail-Rodamco said on Tuesday it has received formal clearance by the Polish competition authorities of the Simon Ivanhoe acquisition on condition the company relinquishes its management of the Zlote Tarasy Shopping Centre in Warsaw.
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PropertyEU Archive
Neinver appoints new German country manager
Retail outlet centre specialist Neinver has named Sebastian Sommer as the new group country manager for Germany. Sommer is responsible for the development and expansion of the different areas of the company in the German market. Neinver says the appointment establishes the firm's commitment in Germany.
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PropertyEU Archive
Strong international interest in ING REIM
The possible sale of ING Real Estate Investment Management (ING REIM) as part of a restructuring following ING Group’s EUR 10 bn state bailout has seen a string of heavyweight investors circle the Dutch asset manager, the biggest in the world with assets under management of some EUR 67 bn.
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News
No property bubble in China, says HSBC's Geoghegan
CHINA – HSBC chief executive Michael Geoghegan has dismissed predictions of a Chinese property bubble.
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News
Birmingham airport secures credit facility from Santander, RBS
GLOBAL – A UK airport part-owned by the CA$96.4bn (€74bn) Ontario Teachers Pension Plan has won promises of more than €50m in short-term funding for an ongoing expansion programme.
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News
Bouwinvest converts direct property investment into funds
NETHERLANDS – Bouwinvest, the property manager of the €26bn pension fund for the Dutch building industry bpfBouw, has converted all of its direct property investment into property funds in a bid to increase flexibility and spread risk.
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News
Property industry 'ill equipped' for DC shift, says Invesco
GLOBAL – The bricks and mortar property industry is ill equipped to deal with the future switch to defined contribution (DC) because of liquidity requirements, according to Simon Mallinson, research director at Invesco.
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PropertyEU Archive
Hotel expert Andreas Löcher joins Union Investment
Andreas Löcher has been recruited by Union Investment Real Estate to strengthen its asset management hotels team. The 38-year-old, who holds a degree in business administration, took over management of the Hamburg-based property fund manager's hotel activities on 1 July 2010.
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PropertyEU Archive
ECE enters Spain with acquisition of ING RED mall manager
Hamburg-based ECE Projektmanagement has entered Spain through the acquisition of shopping centre management company Auxideico Gestión from ING Real Estate Development (ING RED). The financial details of the transaction were not disclosed.
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PropertyEU Archive
JLL hires Grosvenor's James Brown as head of EMEA retail research
Jones Lang LaSalle has announced that James Brown is to join the firm in the autumn as its new head of EMEA retail research and consultancy. Brown is currently UK director of research at Grosvenor. Prior to Grosvenor he was head of retail research at UK-based property advisors DTZ and ...
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PropertyEU Archive
'Split-up of ING REIM could speed up sale'
Dutch bancassurer ING Group may need to resort to splitting up its real estate investment management unit to conclude a timely sale, sources close to the deal told news agency Reuters. Morgan Stanley, which has been mandated to evaluate a sale as part of a restructuring in the wake of ...
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PropertyEU Archive
SEB deal with Santander will not affect real estate activities
The sale by Swedish financial group SEB of its German retail banking activities to Spain's Banco Santander for EUR 555 mln will not affect its commercial real estate activities, a spokeswoman for the Stockholm-headquartered group said on Monday. SEB's real estate activities fall under the merchant banking division which will ...
