Latest reports – Page 3138
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PropertyEU Archive
Poland's Fashion House to build second Russian outlet centre
Poland's Fashion House Development has purchased a 12.4-hectare plot of land in Saint Petersburg for the development of a second retail outlet centre in Russia. The purchase comes shortly after the company unveiled plans in late 2009 to invest $100 mln (EUR 76 mln) in the development of the country's ...
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PropertyEU Archive
FBU completes EUR 44m unit buy-back
Listed Norwegian real estate group FBU announced that it has completed the purchase of units from the unit holders for NOK 348 mln (EUR 44 mln). The transaction is partly financed by loans for a total of NOK 195 mln from two of the group's existing banks, with collateral in ...
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PropertyEU Archive
Ablon opens The Courtyard by Marriott in Budapest
Ablon Group, a real estate owner and developer in Central and Eastern Europe, has announced the opening of its first hotel development in Budapest. The Courtyard by Marriott Budapest City Center Hotel consists of 235 rooms in a newly built contemporary building that combines modern comfort and traditional refinement. It ...
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PropertyEU Archive
Orchid Developments, Ikea open Bulgarian retail schemes
UK-listed Orchid Developments has announced the opening of a EUR 150 mln shopping centre in Bulgaria's third largest city of Varna. The Grand Mall Varna is one of the biggest retail complexes in Bulgaria and the largest in Varna, providing 50,000 m[sup]2[/sup] of retail space.
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PropertyEU Archive
UFG RE buys from Akron in Moscow
Russian fund manager UFG Real Estate has announced the acquisition of a 5,100-m[sup]2[/sup] building located on Bakhrushina Street in Moscow. The property was bought from Austria's Akron Group for a price said to be around $35 mln (EUR 28 mln).
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PropertyEU Archive
Stonehage plans to grow property portfolio to EUR 2.4bn
Stonehage Property Partners (SPP), the specialist property advisory business of the Stonehage Group, said on Friday that it is planning to expand its property portfolio to £2 bn (EUR 2.4 bn) over the next few years, as international wealthy families continue to increase their exposure to property globally.
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PropertyEU Archive
Pension fund buys property in Budapest for EUR 14m
Evgyuruk Pension Fund has purchased category A office building in Budapest for 3.8 bn forints (EUR 13.7 mln). The property at Ulloi ut 48 was sold by BIF.
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PropertyEU Archive
Magazine: Cap 3000 buy is ABP's first co-investment with Altarea
The acquisition of the Cap 3000 shopping centre in Nice by a three-way consortium including ABP is the latest example of the Dutch pension fund's strategy to co-invest alongside companies in which it holds a substantial interest. The Cap 3000 purchase was the first alongside Altarea, in which ABP holds ...
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PropertyEU Archive
Prologis leases 61,000 m[sup]2[/sup] in Europe
Global distribution facility specialist Prologis announced it has signed second-quarter lease agreements totalling approximately 61,400 m[sup]2[/sup] with four customers in Europe.
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PropertyEU Archive
Magazine: ISA calls for single pan-European sustainability standard
The International Sustainability Alliance (ISA) has called for a single pan-European standard for the real estate sector. In an interview for the June edition of PropertyEU Magazine, ISA co-chair elect Jaap Gillis said: 'There should be one standard, one benchmark for Europe'.
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PropertyEU Archive
Annika Drotz joins Savills Sweden
Savills has recruited retail expert Annika Drotz to join as a director of its Stockholm-based office. Drotz was previously head of operations management Nordics at Unibail-Rodamco. Prior to Unibail-Rodamco she worked at Ernst & Young and has over 17 years experience in the property sector.
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PropertyEU Archive
JLL issues part two of Retail 2020
Jones Lang LaSalle issued today part two of the Retail 2020 study Power to the People / Consumer Cut-through. Retail 2020, which was launched on 28 May via a bespoke interactive website, examines the rapidly changing global retail landscape over the next ten years.
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PropertyEU Archive
Salans advises Aerium on EUR 186m Turkish refinancing
International law firm Salans said it advised Aerium, a European real estate fund manager, on the refinancing of its Turkish retail portfolio, Bainbridge Capital Retail Properties in May. The re-financing was carried out through a $240 mln (EUR 186 mln) debt facility with Akbank, Turkey's largest merchant bank.
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PropertyEU Archive
Goodman, SWIP seal distribution centre leasing
Global property group Goodman and Scottish Widows Investment Partnership (SWIP) have let a new 22,400-m[sup]2[/sup] distribution centre at Hoddesdon Commercial Park, in Hertfordshire, to Wincanton.
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PropertyEU Archive
Crocus Group opens Russia's largest mall
Russia's Crocus Group announced the opening this week of its Vegas retail and leisure centre in Moscow. With over 300 shops and a 400,000 m[sup]2[/sup] surface area, the property represents Russia's largest shopping mall, Crocus said.
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PropertyEU Archive
Steen & Strøm appoints new CEO
French real estate firm Klépierre announced on Thursday that Jan Ove Holmen is to become CEO of Steen & Strøm, the largest shopping centre owner in the Scandinavia region. Klépierre and Dutch pension group ABP acquired Steen & Strøm for EUR 2.7 bn in 2008. Klépierre owns a 56.1% share.
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News
Virginia bets on JV with Amli Residential
UNITED STATES – Virginia Retirement System has decided to invest $400m ($325m) more of its equity into the real estate sector, three quarters of which will go towards an investment partnership with Amli Residential.
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News
San Diego City diversifies US domestic portfolio
UNITED STATES – San Diego City Employees’ Retirement System has approved $135m (€111m euros) in new real estate investments follow a consultation with The Townsend Group.
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News
Listed timber fund grows Chinese exposure
CHINA – A London-listed timber vehicle funded mostly by UK and European pension schemes is acquiring Chinese assets in a bid to build up a significant market-specific portfolio.
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News
Prime continuing to defy fundamentals - King Sturge
EUROPE – King Sturge’s European first quarter survey is the latest to report prime property retaining its value despite a sluggish macro recovery across the continent.
