Latest reports – Page 3154
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PropertyEU Archive
RREEF fund buys logistics warehouse in France
RREEF Spezial Invest, part of the RREEF group managed by Deutsche Bank, has announced the acquisition of a class A warehouse measuring 42,265 m[sup]2[/sup] in Wattrelos, near Lille in France, for a approximately EUR 21 mln.
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News
Pension funds and IVG co-invest in green fund
EUROPE – Four unnamed pension funds – three German, one Austrian – have each invested €33m in a €300m sustainable office fund.
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News
Half of real estate funds ‘will bleed to death’
GLOBAL - As many as 50% of fund managers will go out of business in an industry shakeout that still has far to go, according to Claude Angéloz of the Swiss-based Partners Group.
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News
Imperial Tobacco holds on to performance accolade
UK – The Imperial Tobacco pension scheme, winner of the coveted long-term performance award at the IPD/IPF UK Property Investment Awards in London, has highlighted the importance of consistency and adding value to existing assets.
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News
Munich buy reflects the robustness of residential
GERMANY – An unnamed European institutional investor – understood to be a German pension fund – has acquired a fully rented 274-unit residential block in a Munich suburb for €42.1m.
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PropertyEU Archive
WP Carey in £22m sale-and-leaseback with TDG
US investor WP Carey announced on Tuesday that one of its publicly held non-traded REIT affiliates has purchased eight cold storage facilities from UK logistics and supply chain management company TDG. The transaction price amounts to a total of £22 mln (EUR 26 mln), including acquisition fees, in an all-equity ...
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PropertyEU Archive
Crown Estate, Land Securities buy £56m Oxford shopping centre
The Crown Estate has sold a 50% stake in the Westgate Centre, Oxford to Land Securities just after completing the purchase of the centre from Capital Shopping Centres for £56 mln. Land Securities is now buying a 50% interest in the complex for just over £28 mln (EUR 33 mln), ...
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PropertyEU Archive
L&G Property buys 4 assets in the UK for EUR 27m
Legal & General Property (LGP), on behalf of its Property Unit Trust, has purchased a portfolio of industrial assets in Luton, Hounslow, Sevenoaks and Bristol from a private pension fund for close to £24 mln (EUR 27.5 mln), reflecting a net initial yield of around 7.3%. CBRE advised LGP on ...
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PropertyEU Archive
Real I.S. buys EUR 71m building for new German fund
German investor Real I.S. said on Tuesday that it has purchased a new office building in Dusseldorf for its newly launched German-focused fund, Bayernfonds Deutschland 20. Located between the airport and the city centre, the property is rented on a long-term basis to the federal government and was acquired for ...
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PropertyEU Archive
Banimmo places EUR 75m of bonds to fund acquisitions
Belgian property company Banimmo has fully placed the maximum amount of EUR 75 mln planned for its bond issue. 'Due to the strong demand created by its public offering of a five-year bond with warrants, the
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PropertyEU Archive
Terreis buys EUR 56m worth of assets
French property firm Terreïs has committed to invest EUR 56 mln in the acquisition of a portfolio consisting of seven office properties in the Paris region. The transaction reflects a yield of 7.4 %.
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PropertyEU Archive
Investment volumes hit EUR 22 bn in Q1: C&W
European commercial property investment rose by nearly 80% year-on-year to EUR 22.4 bn in the first quarter of 2010, according to new research issued by Cushman & Wakefield. Trading was buoyed by further growth in demand, particularly from foreign players, improving debt market sentiment, increased interest in larger lot sizes ...
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PropertyEU Archive
British Land, Blackstone to build new UBS building at Broadgate
UK REIT British Land and the Blackstone Group said on Tuesday that they plan to construct a new building at London's Broadgate Estate for existing tenant UBS.
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PropertyEU Archive
Altarea in 'exclusive talks' with Lafayette to acquire Cap3000
France's Galeries Lafayette said it has entered into exclusive negotiations with a joint venture of retail specialist Altarea, and insurance companies APG and Predica, on the sale of Aldeta, the listed company owning the Cap 3000 shopping centre in Saint-Laurent du Var, near Nice.
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PropertyEU Archive
NH Hoteles sells London St Ermin's hotel for EUR 75m
Spanish hotel chain NH Hoteles said it has sold the St Ermin's hotel in London's Westminster in efforts to 'reinforce its liquidity'. The disposal of the 275-room hotel is 'in line with the asset divestment plan announced by the company last year,' it added. The property was acquired by a ...
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PropertyEU Archive
Emerging markets catch up in global retail stakes: CBRE
The UK maintained its position as the world's most dominant retail destination in 2009, followed closely by the United Arab Emirates (UAE), according to the latest edition of the How Global is the Business of Retail? report by real estate adviser CB Richard Ellis (CBRE). The UK attracted 58% of ...
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PropertyEU Archive
Two developers invest EUR 65m in St. Petersburg
A Turkish and Finnish real estate developer have announced plans to invest a total of EUR 65 mln in the St Petersburg commercial property market. Helsinki-based Technopolis said it has been granted a new EUR 32 mln financing facility by the European Investment Bank to fund the construction of the ...
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PropertyEU Archive
CBRE Investors makes first purchase for European core fund
CB Richard Ellis Investors has bought a West End office block for £32 mln (EUR 37 mln) in the first acquisition for its newly-launched Pan European Core (PEC) fund.
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PropertyEU Archive
Karstadt portfolio may attract new bidder
A new investor has showed 'serious interest' in acquiring the insolvent German department-store chain Karstadt, administrators told newspaper Frankfurter Allgemeine on Sunday. According to Karstadt's insolvency administrator Klaus Hubert Görg, the company has decided to extend the bidding period until May 28 from the previous deadline of April 28 after ...
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PropertyEU Archive
Allianz, Corio confirm purchase of Porta di Roma mall for EUR 440m
Germany's Allianz Real Estate confirmed on Monday that it is teaming up with Dutch retail specialist Corio to acquire the Porta di Roma shopping centre in Rome from sellers Porta di Roma Srl, controlled by Silvano Toti and Parsitalia, and Gallerie Commerciali Italia (GCI), a joint venture of Auchan and ...
