Latest reports – Page 3186
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PropertyEU Archive
RREEF confirms acquisition of Park Tower in Frankfurt for EUR 123m
RREEF Investment confirmed on Wednesday that the acquisition of the office building Park Tower in Frankfurt/Main has been completed. The property had been purchased from a Morgan Stanley fund at the end of December 2009 at a cost of around EUR 123 mln for the open-ended real estate fund grundbesitz ...
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PropertyEU Archive
JLL advises on EUR 76m mall sale in Woking
Jones Lang LaSalle's Shopping Centre Investment team has advised IM Properties on the sale of Wolsey Place Shopping Centre in Woking to Woking Borough Council for £68 mln (about EUR 75.8 mln). The investment volume reflects a net initial yield of 8.2%. Woking Borough Council is the freeholder.
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PropertyEU Archive
KKR buys 250 UK stores
CB Richard Ellis (CBRE) said that it has advised private equity firm Kohlberg Kravis Roberts (KKR) on the purchase of British retailer, Pets at Home, from Bridgepoint and other co-investors for £955 mln (EUR 1 bn). The deal represents one of the largest private equity transactions of the past few ...
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PropertyEU Archive
European housing shows signs of recovery: RICS
The residential markets of Ireland, Spain and Greece were the worst performers in 2009, alongside most central and eastern European countries and the Baltic States where prices declined between -27% to -53%. Nevertheless, signs of recovery are visible in some European housing markets, especially in sales levels and prices, according ...
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PropertyEU Archive
Sparkassen's Sun Plaza opens in Bucharest
Austrian property group Sparkassen Immobilien has announced the opening of its flagship Sun Plaza shopping centre in the Romanian capital. The project represents a partnership of the Vienna-based developer with the Romanian-French property company EMCT. The construction of Sun Plaza started three years ago and involved an investment of some ...
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PropertyEU Archive
GPR 250 Europe slips -1.3% in February
The European listed real estate sector slipped by -1.3% in February, according to the GPR 250 Europe Index. Several countries recorded negative returns: Norway reported the biggest loss of -14.% (Norwegian Property), followed by Poland (GTC -11.3%), Turkey (Is REIT -10%), France (-3.3%), the UK (-2.6%), Finland (-1.6%), Germany (-0.1%) ...
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PropertyEU Archive
F&C REIT purchases retail arehouses for EUR 20m
F&C REIT Asset Management has exchanged contracts to acquire retail warehouses in Ipswich and Luton, both let to Homebase, for a combined total of £18 mln (almost EUR 20 mln).
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PropertyEU Archive
Prupim acquires UK retail park from Henderson at 5.3% yield
Prudential Property Investment Managers (Prupim) has exchanged contracts to acquire the Stanley Green Retail Park in Wilmslow, Manchester for £47 mln (EUR 52 mln). The investment volume reflects a net initial yield of 5.3%, the lowest achieved for a retail park in the current market cycle.
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PropertyEU Archive
Viveris Reim set to boost its OPCI business in 2010
French fund manager Viveris REIM unveiled plans to strengthen its OPCI fund management business this year through the creation of new partnerships with French corporates looking to divest their real estate. The company said it plans to carry out investments of over EUR 200 mln in 2010, mostly focused on ...
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PropertyEU Archive
Nexity targets expansion after curbing debt burden
French listed property developer Nexity will look to expand its activities particularly in the commercial property segment in 2010 after a year spent rebuilding its balance sheet. The company said it was able to significantly improve its financial position in 2009, curbing its net debt by EUR 668 mln over ...
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PropertyEU Archive
Pension funds acquire NCC projects in Denmark
Swedish construction firm NCC has sold an office project in the Danish capital Copenhagen to pension fund investor PFA Ejendomme. The transaction relates to the development of a new green head office building for the Danish IT company NNIT. The total investment in the project amounts to approximately SEK 900 ...
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PropertyEU Archive
Activum, Stam Europe buy building in Hannover
European real estate investors Activum SG and Stam Europe have jointly acquired a 19,500-m[sup]2[/sup] office building in the German city of Hanover from Immobilienverwaltungsgesellschaft Grammophon Büropark.
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News
Europe's biggest pension fund given top-line real estate guidelines
NORWAY - The Norwegian Ministry of Finance has today revealed the Government Pension Fund-Global fund will in future be invested in real estate as planned, albeit investments will be made over a long period of time, in a bid to reduce risk.
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News
CalSTRS loses $83m as Fairfield moves to Chapter 11
UNITED STATES- California State Teachers Retirement System (CalSTRS) has taken an $82.9m (€61.2m) hit in its real estate portfolio as one of its investments, Fairfield Residential LLC, has filed for Chapter 11 bankruptcy protection.
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News
Lack of purchasing stocks shifts attention to secondaries
EUROPE – A lack of prime real estate being placed on the market is forcing investors to consider secondary assets or to focus on opportunities arising from banks.
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News
Responsible investment fund to develop UK care homes
UK – A new socially-responsible real estate fund backed by local authority pension funds has invested in the UK care home sector.
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News
Aberdeen claims core European real estate has bottomed
EUROPE – Aberdeen Property Investors has begun buying real estate again for its core pan-European institutional fund now that it believes many of the continent’s prime markets have bottomed out.
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News
Kansas PERS turns attention to core real estate
UNITED STATES - Kansas Public Employees Retirement System has made a $100m (€73.5m) allocation to the LaSalle core commingled US Property Fund.
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News
L&S makes 36% gain on 9-mth investment
UK – London & Stamford Property, the listed company managed by Raymond Mould and Patrick Vaughan, has sold a UK office building for £51.3m (€56.6m), nine months after buying it for £37.6m
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MagazineCash at the ready
The US market is paralysed by uncertainty about the future, but plenty of capital is poised for a signal to invest. Stephanie Schwartz-Driver reports
