Latest reports – Page 3189
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PropertyEU Archive
Major cities hit by decline in prime office rents: C&W
The world's leading centres have suffered an unprecedented decline in demand for office space which has contributed to the first aggregated global fall in prime office rents since 2003. Global real estate adviser Cushman & Wakefield, in its new Office Space Across the World report, says that 2009 recorded ...
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PropertyEU Archive
Norwegian Property to split up into office and hotel firms
Oslo-based Norwegian Property has initiated a process to split into two independent firms, one for office and the other to manage its hotel portfolio. The move follows the completion of a strategic review.
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PropertyEU Archive
Star Inn acquires Hotel Columbus in Bremen
European hotel operator Star Inn Hotels Group has acquired the leasehold interest of the Hotel Columbus in Bremen for an undisclosed amount. Christie + Co acted for the private investor who sold the property.
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PropertyEU Archive
Regus acquires BFI business centres from Affine
French property company Affine has announced the sale of its business centre unit, Business Facility International (BFI) to Regus. A Regus spokesperson said on Monday that the companies have agreed not to disclose the transaction price.
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PropertyEU Archive
Vinci sells Lyon building to Banque de France
The real estate unit of French construction group Vinci has sold the Bayard office project in Lyon to the Banque de France. The financial details were not disclosed.
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PropertyEU Archive
Alstria Office enters JV to refurbish Hamburg's Kaisergalerie
Alstria Office REIT has agreed the terms of a joint venture with Hamburg-based developer and fund manager Quantum Immobilien to refurbish the Kaisergalerie in Hamburg. The asset is located in one of Hamburg's prime areas called Große Bleichen. Within the framework of the joint venture, Alstria sold a 51% stake ...
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PropertyEU Archive
Icade completes La Lucette takeover, posts 70% rise in profits
French SIIC Icade said it has completed the purchase of the 94.5% stake in Compagnie La Lucette from Morgan Stanley's MSREF vehicle. The operation, which was first announced in December, envisaged the exchange of two Icade shares and EUR 32.5 in cash for 21 Lucette shares. As a result of ...
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PropertyEU Archive
McArthurGlen opens La Reggia outlet near Naples
McArthurGlen, a developer, owner and manager of designer outlet villages, opened its fifth designer outlet village in Italy last week. La Reggia Designer Outlet is the first retail outlet in the region of Campania. The outlet village is located 30 km north of Naples.
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PropertyEU Archive
ECE opens glass-topped Rathaus-Galerie in Leverkusen
German inner-city shopping centre specialist ECE opens its EUR 200 mln Rathaus-Galerie in Leverkusen, Germany on Wednesday. ECE said the project's 'architectural flagship', a glass rotunda, is visible from a long distance from the shopping scheme.
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News
RBS foreclosure signals start of uncertainty - Aviva
EUROPE – Aviva Investors is expecting to see more bank foreclosures following Royal Bank of Scotland’s (RBS) assumption of a German office portfolio owned by Morgan Stanley, but warned that commercial mortgage-backed securities (CMBS) refinancing will be a greater source of market uncertainty.
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News
Mn presses funding extension talks for PME and PMT
NETHERLANDS – Mn Services is in discussions with 25 global real estate fund managers, on behalf of Pensioenfonds Metaal en Techniek (PMT) and Pensioenfonds van de Metalektro (PME), about an extension to fund investment periods.
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News
ING REIM chief steps down after a year
GLOBAL – George Jautze has retired as chief executive of ING Real Estate Investment Management (ING REIM) after less than 12 months in the role.
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News
ING Clarion deal signals market re-entry
UNITED STATES- ING Clarion Partners has shown its belief in the comeback of the real estate market and made its first acquisition in over two years for the Clarion Development Ventures III commingled fund.
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News
Wisconsin eyes debt as part of $250m signing
UNITED STATES – The State of Wisconsin Investment Board is in process with making new investments in real estate totalling $250m (€183.9m).
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News
DEGI forced to reiterate Global Business stance
GERMANY – Aberdeen Asset Management Deutschland said it is working hard to ensure the DEGI open-ended Global Business fund for institutional investors can re-open in the future, despite reports suggesting it may need to be liquidated in March.
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PropertyEU Archive
Invesco buys 5 European hotels for EUR 154m
French hotel group Accor has divested five hotel properties with over 1,100 rooms in four European countries to Invesco Real Estate for a total of EUR 154 mln. In a statement on Friday, the hotel group said the move is 'part of the ongoing deployment of its asset-right strategy, with ...
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PropertyEU Archive
Mercialys to buy Grenoble mall for EUR 92m
French SIIC Mercialys said it is buying the Caserne de Bonne shopping centre in Grenoble for around EUR 92 mln. The retail specialist expects to sign the final purchase agreement during the second half of 2010.
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PropertyEU Archive
Hammerson books lower writedowns and losses
Anglo-French property investor Hammerson said on Monday that its 2009 net loss narrowed to £344.5 mln (EUR 390.8 mln) from £1.57 bn a year ago. Property sales pushed net rental income down by 2.1% to £293.6 mln, but the figure was up 1.1% on a like-for-like basis.
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PropertyEU Archive
London & Stamford sells Leeds property
London & Stamford Property Limited has announced the sale of No. 1 Whitehall Riverside, Leeds to the NFU Mutual Insurance Society Limited for £51.3 mln (EUR 58.3 mln). The 129,514 sq ft prime office building is multi-let to seven tenants including Cobbett's LLP, Mellon Analytical Solutions, Europe and Grant Thornton ...
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PropertyEU Archive
MGPA winds up 1999 vintage fund
MGPA, the private equity real estate investment advisory company, has wound up its Global Fund I, an opportunistic $480 mln global fund which delivered strong returns to investors and culminated in the successful sale of $5 bn of assets. The fund is one of the first of its time to ...
