Latest reports – Page 3157
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PropertyEU Archive
All property returns in UK increase in Q1
All-property total returns in the UK increased to 6.2% in Q1, according to the latest Jones Lang LaSalle UK Quarterly Property Index, Returns were boosted by the 4.5% increase in capital values, which was driven completely by falling yields across all three major sectors.
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PropertyEU Archive
Metro to manage largest regional mall in Poland
Metro Group Asset Management has further boosted its activities in the international shopping centre business with the takeover of the management for Magnolia Park, the biggest shopping, leisure and entertainment center in Lower Silesia with a total floor space of 74,400 m[sup]2[/sup].
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PropertyEU Archive
NPS confirms talks on Sony Center
South Korea's national pension fund NPS has confirmed it is in the final stage of talks to buy the Sony Center in Berlin for about $767 mln (EUR 576 mln), according to a report by news wire Reuters.
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PropertyEU Archive
Spain's Ballester to sell central Madrid office building
Valencia-based real estate developer Ballester has hired Savills and Catella to sell its landmark Paseo de Recoletos office building in Madrid. The property is currently 50% vacant, with the rest leased to Spanish construction materials producer Uralita.
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PropertyEU Archive
Italy's MPS and Baglioni portfolios set to hit the market
Italian bank Monte dei Paschi di Siena (MPS) and luxury hotel group Baglioni both have plans to sell off properties in their home market to fund their future expansion. MPS is planning to sell around EUR 500 mln worth of non-strategic properties, Antonio Vigni, Chief Executive Officer of the financial ...
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PropertyEU Archive
Redevco buys retail building in Netherlands
Amsterdam-based Redevco has purchased a listed retail building in Utrecht from Breevast. The refurbished building is fully let to Spanish retailer Zara which opened its new store in the Netherlands last week.
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PropertyEU Archive
NSI closes EUR 250m refinancing with ING Real Estate Finance
Amsterdam-listed Nieuwe Steen Investments (NSI) has reached agreement with ING Real Estate Finance on refinancing its current short-term credit lines with a new longer EUR 250 mln facility. The loan has a term of two to four years split over a revolving and fixed loan facility.
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PropertyEU Archive
Deutsche Bank mandated to sell Catella Group
Catella's shareholders, the Catella Foundation and InterIkea, have mandated Deutsche Bank to divest the entire Catella Group, which is headquartered in Stockholm and employs a staff of 475 across Europe, with activities ranging from financial services, real estate advisory and asset management. The Catella Foundation holds a 91% stake in ...
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PropertyEU Archive
Westimmo turns to Soffin for state aid
German real estate lender Westimmo has applied for billions of euros in German state aid as a way of sweetening the auction process for the unit, according to media reports. The aid request in the form of bridge financing guarantees aims to help prevent potential buyers from suffering a ratings ...
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News
European pension funds retrench as Korea looks westward
ASIA-PACIFIC – Local investors will replace US and European pension funds in Asia within 10 years, the Asian Public Real Estate Association (APREA) conference heard last week.
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News
Henderson re-opens pan-European fund
EUROPE – Henderson Global Investors will this week reopen its €405m institutional pan-European real estate fund of funds after 76% of investors agreed to revoke their redemptions.
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News
Local authority funds urged to invest in housing
UK – A real estate debt specialist has slated UK local authority pension funds for failing to invest in domestic social housing.
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News
INREV index posts recovery figures: UK leads
EUROPE – European non-listed funds returned a negative -7.8% in 2009, compared with -19.8% the previous year, according to the INREV Index of 258 funds representing assets worth €132.7bn.
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PropertyEU Archive
Klepierre sells Paris building for EUR 36m
French retail specialist Klepierre has sold an office building located at Place du Général Leclerc in Levallois-Perret, west of Paris. The transaction price amounts to a total of EUR 36 mln, including taxes.
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PropertyEU Archive
Stenham buys City asset from Aviva for EUR 36m
UK investor Stenham Property has completed the purchase of 24 Chiswell Street, a 76,393 sq ft (7,000 m2) virtual freehold property in the City of London. A spokesperson for Stenham said that the seller of the property is Aviva. The £31 mln (EUR 36 mln) purchase price reflects a net ...
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PropertyEU Archive
CBRE advises IVG on sale of Horizon Plaza
CB Richard Ellis has advised IVG on the sale of Horizon Plaza Office Complex in Warsaw, Poland, for around EUR 102 mln to German open-ended fund Union Investment. In a press release, the adviser said the deal was the largest commercial real estate transaction this year in Poland and as ...
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PropertyEU Archive
Meyer Bergman buys The Exchange Mall for £71m
Meyer Bergman, the European real estate fund manager, has signed a preliminary agreement to acquire the Exchange Mall in Ilford, UK from the Mall Fund, which is managed by Aviva Investors, well-informed market sources close to the process told PropertyEU. The acquisition price comes to £70.6 mln (EUR 82 mln), ...
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PropertyEU Archive
Prologis targets Europe for new development activities
Prologis, a leading developer, owner and manager of distribution facilities, plans to develop its way through its significant European land bank, provided market conditions are favourable, according to its European president and CEO Philip Dunne.
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PropertyEU Archive
Core funds perform better than value added: Inrev
Core funds performed better than added value funds in 2009, according to Inrev, the European sector organisation for the non-listed fund sector. Core funds returned -5.9% over the year while value added funds returned -14.3%. In local currencies, the Inrev Index returned -7.8% in 2009 compared to -19.8% in 2008.
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PropertyEU Archive
Henderson fund reopens for investment
Henderson Global Investors' Indirect Property Fund Europe (HIP) has reopened for investment by institutional investors after closing in early 2009 and now has over EUR 50 mln to invest in new opportunities. The fund of funds has benefitted from the revocation of over 70% of the redemption requests on the ...
