Latest reports – Page 3190
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PropertyEU Archive
Colonial to launch EUR 2b capital hike
Spain's Inmobiliaria Colonial will seek to raise EUR 1.95 bn of fresh capital as part of a long-awaited refinancing deal closed last week with creditors. In a statement on Friday to the stock market regulator, the troubled real estate company said it has reached a final and binding agreement with ...
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PropertyEU Archive
Union Investment to invest up to EUR 2 bn in 2010
Union Investment expects to invest between EUR 1.5-2 bn in European real estate this year, roughly in line with last year’s total volume, chairman of the board Reinhard Kutscher said in an interview with PropertyEU. The focus will be on core markets, he added, pointing to the UK, France and ...
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PropertyEU Archive
FDR sees 2009 losses narrow to EUR 262m
French office-focused group Fonciere des Regions reporeted losses narrowed to EUR 262 mln in 2009, from EUR 556.5 mln a year before. The Metz-based property group saw its net asset value (NAV) drop 18% year-on-year, mostly reflecting writedowns in the first half of the year. In H2 2009, NAV increased ...
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PropertyEU Archive
CBRE named one of top global outsourcers
The International Association of Outsourcing Professionals (IAOP) has named CB Richard Ellis Group, Inc. to The 2010 Global Outsourcing 100 for the fourth consecutive year. The list recognises the world’s best outsourcing service providers across all industries, and is based on applications received and evaluated by an independent panel of ...
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PropertyEU Archive
Corio has EUR 617 mln warchest for Multi portfolio
Retail specialist Corio has a warchest of EUR 617 mln for a potential acquisition of part of Multi Corporation's portfolio. As announced earlier, Corio is interested in gaining a stronger foothold in the German market.
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PropertyEU Archive
Average retail rents in UK set to stabilise soon: C&W
Average retail property rents declined just over 8% in 2009, says Cushman & Wakefield in its latest quarterly update on the UK market. The property adviser notes that although rents declined by a further 1% in the final quarter of 2009, the rate of softening has begun to ease and ...
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PropertyEU Archive
Corio boosts earnings in 2009
Listed retail specialist Corio saw its direct result (from rental income) rise 6.9% in 2009 to EUR 218 mln. The indirect result came to a negative EUR 350.1 mln compared to a negative EUR 443.7 mln in 2008 reflecting further writedowns of the portfolio. In total, the value of the ...
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PropertyEU Archive
Topland to sell £200m of smaller assets
Topland Group is seeking to take advantage of the recovering investment market to sell £200 mln (EUR 239 mln) of smaller assets.
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PropertyEU Archive
Neinver outlet centres boost sales in Europe by 28%
Neinver, one of Europe's leading retail operators, with 11 outlet centres and more than 1,000 stores, ncreased the turnover of the outlet centres it operates in Italy, Germany, Spain, Poland and Portugal, by 28% in 2009 compared to 2008.
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PropertyEU Archive
Eurasia sells Volna centre for $140m
Russia's Eurasia Industrial and Investment Group has reached agreement to sell the Volna business centre in Moscow to local insurance group Sogaz. The transaction price amounts to around $140 mln (EUR 103 mln).
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PropertyEU Archive
Lunkewitz sells Renaissance Haus for EUR 53m
Frankfurt-based publisher Bernd F. Lunkewitz has sold the Renaissance Haus scheme in Munich to an unnamed institutional investor for around EUR 53 mln. Built in 1902, the historic office building was completely renovated between 2001 and 2003 and currently provides 14,000 m[sup]2[/sup] of leasable area divided across seven floors.
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PropertyEU Archive
Benson Elliot makes first UK acquisition
Benson Elliot Capital Management, one of Europe's leading private equity real estate firm, has acquired the mixed-used centre CBXII on Midsummer Boulevard in Milton Keynes for £20.6 mln (EUR 23.4 mln). The property was acquired from the CASPAR Fund, managed by Henderson Global Investors. The deal reflects an initial yield ...
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PropertyEU Archive
RICS: energy efficiency must be top EU priority
RICS has co-signed a letter calling on European policy makers to focus on the security of supply, competitiveness and climate benefits of energy efficiency during the European Summit.
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PropertyEU Archive
AXA IM extends redemption freeze on Immoselect fund
AXA Investment Managers Deutschland has decided to extend a redemption freeze on its Immoselect open-ended property investment fund for a further nine months. The decision comes after the expiration of a first three-month closing period for the fund.
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PropertyEU Archive
London & Regional offloads Moscow property
UK investor London & Regional Properties has sold the Ulanskiy office complex in the city centre of Moscow to Russian oil group Lukoil. The property offers 7,200 m[sup]2[/sup] of lettable space, of which 5,800 m[sup]2[/sup] are currently vacant.
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PropertyEU Archive
Alpstar Capital announces new head of real estate
Alpstar Capital, a European asset manager and investment advisor, has announced the appointment of Biren Amin as Head of Real Estate, a new position for the company.
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PropertyEU Archive
ING RED puts Dolce Vita Tejo mall on the market
ING Real Estate Development is in talks with a number of investors to sell its EUR 300 mln Dolce Vita Tejo shopping centre in Lisbon, Portugal. An ING RED spokesperson confirmed to PropertyEU on Thursday that the shopping centre has been put up for sale, without adding details on the ...
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PropertyEU Archive
Multi restarts construction of New Karolina
Multi Development Czech Republic has announced the restart of construction of its major inner-city development in Ostrava after a one-year break due to the financial crisis. This follows Multi’s recent announcement of closing the EUR 99 mln funding deal through a syndicated loan from four banks.
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PropertyEU Archive
CBRE Investors reshuffles European top management
Global investment manager CB Richard Ellis Investors has announced the appointment of a new three-strong team to lead its Continental European operations. The move, with immediate effect, was sparked by the resignation of CBRE Investors' former president and CEO, Thibault de Valence and François Lex, which decided to pursue new ...
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PropertyEU Archive
CBRE strengthens Corporate Services team
CB Richard Ellis has strengthened its Global Corporate Services (GCS) team in the Europe, Middle East and Africa region with the appointment of Senior Directors Paul Copeland and Ralph Holland.
