Latest reports – Page 3191
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PropertyEU Archive
Cordea Savills boosts institutional business team
Cordea Savills, the international property fund manager, has announced the appointment of Charles Smith as Associate Director for its institutional business team.
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PropertyEU Archive
Prologis leases 44,000m[sup]2[/sup] development space in UK
Prologis announced it has signed lease agreements totalling 43,000 m[sup]2[/sup] to two customers in the UK. 'Recent first-quarter lease activity in the UK has filled two newly developed distribution centers,' said Andrew Griffiths, managing director of Prologis UK. 'While we are still facing a challenging market environment, these new lease ...
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PropertyEU Archive
MPL offers UK fund to German inverstors
Managing Partners Limited (MPL) has launched a property fund for German investors: the British Property Opportunities Fund. The international fund manager said on Thursday that the open-ended investment vehicle gives German investors 'the opportunity to invest in one of Europe’s most exciting property markets where deep discounts are available'.
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PropertyEU Archive
La Lucette announces sale of La Colisee to Allianz
Morgan Stanley's French property investment vehicle La Lucette announced that it has signed a preliminary agreement with German insurance group Allianz to sell the Colisée office building in Courbevoie, north-west of Paris. Although the financial details were not disclosed, market experts indicate that the transaction amounts to around EUR 160 ...
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PropertyEU Archive
SNS Property Finance books loss in 2009
SNS Property Finance booked a loss of EUR 219 mln in 2009, it emerged on Thursday at the presentation of the annual results of parent company SNS Reaal. The Dutch financier is planning to wind down its international real estate portfolio by 2012 and will concentrate in future on its ...
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PropertyEU Archive
Standard Life acquires East Kilbride Retail Park for EUR 21m
Standard Life Investments has announced its acquisition of the East Kilbride Retail Park, Scotland on behalf of Standard Life Investments' UK Property Fund, for £18.1 mln (EUR 21 mln). The investment volume reflects a yield of 6.54%.
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PropertyEU Archive
Deka Immobilien acquires office project in Stockholm from Skanska
Construction giant Skanska has sold its ongoing office project Bylingen in Stockholm to Deka Immobilien for SEK 576 mln (EUR 58 mln). Deka is contributing the property to its WestInvest ImmoValue property fund. The property is fully leased and comprises about 14,500 m[sup]2[/sup] of office space and studios for media ...
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PropertyEU Archive
Sjælsø sells three retail projects in Sweden for EUR 43 mln
Copenhagen-listed real estate development group Sjælsø has entered into an agreement with Alecta Pensionsförsäkring to sell three retail projects in Sweden for SEK 427 million (EUR 43 mln). Alecta is one of the largest pension funds in Sweden with more than 1.7 million customers.
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PropertyEU Archive
German investment volume seen rising to EUR 16-18 bn in 2010
A vast majority of investors and companies believe the German real estate investment market will remain attractive in 2010, with the number of people sharing this view rising to 80% from 66% last year. This is one of the key findings of Ernst & Young Real Estate’s annual trend survey ...
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PropertyEU Archive
Union Investment takes control of Berlin mall for EUR 316m
Union Investment has finalised an agreement with Sonae Sierra and Foncière Euris/Rallye to become the new majority owner of the Alexa shopping centre in central Berlin. Each of the investors had a 50% share in the property and the Hamburg-based property fund manager paid EUR 316 mln to acquire ...
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PropertyEU Archive
Liebrecht&Wood starts development of Polish mixed-use scheme
Flemish retail group Liebrecht & Wood plans to start development next week of its Morski Park Handlowy mixed-use scheme in northern Poland. The company said that it has appointed Hochtief Polska as general contractor for the complex.
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PropertyEU Archive
AEW Europe drives deeper into core office market with German buy
AEW Europe’s Euroffice Fund has purchased an office building in Frankfurt for EUR 39.5 mln from Australia’s Macquarie Office Trust. Rob Reiskin, AEW Europe’s Head of Investments said: 'We believe now is the right time to be moving back into some parts of the Continental European core office market, to ...
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PropertyEU Archive
WP Carey completes 2nd tranche of Eroski sale-and-leaseback deal
WP Carey announced on Wednesday that is has completed the second tranche of a EUR 74 mln corporate sale-and-leaseback transaction with Eroski. The second tranche, totalling EUR 36 mln, is for the purchase of 16 retail facilities from the Spanish supermarket operator. The first tranche, totalling EUR 38 mln and ...
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PropertyEU Archive
Four Polish projects to be showcased at Mipim
Three Polish shopping centres and a residential/services project in that country are among the European development schemes to be highlighted at Mipim this year. The shopping centre projects are the 40,000 m[sup]2[/sup] Serenada Shopping Centre in Krakow, which opens its doors in mid-2012; the 35,000 m[sup]2[/sup] Aleja Slonca mall in ...
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PropertyEU Archive
Foncière des Murs sells 4 hotels for EUR 24m
Foncière des Murs, the hospitality property arm of Foncière des Regions, has announced the sale of four hotels in France to a number of family offices for EUR 24 mln. The hotels, which are operated under the Ibis and Etap brands, are located in the cities of Nantes, Lille, Courbevoie ...
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PropertyEU Archive
ING REIM to fall under Banking, not Insurance
ING is to incorporate its Real Estate Investment Management (REIM) unit into its Commercial Banking division, not the Insurance arm as announced last year, the Dutch financial services group revealed at its 2009 earnings presentation on Wednesday. The decision means that the REIM unit will now fall under the Banking ...
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PropertyEU Archive
Legal & General Property recruits new fund manager
Legal & General Property has appointed Mark Russell as fund manager for the L&G Managed Pension Fund. Russell joins from Prestbury Investment Holdings where he was responsible for several property portfolios. Prior to this he worked for LGP from 2000 to 2006 with responsibility for investment and asset management on ...
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PropertyEU Archive
George Jautze to retire as CEO of ING REIM
ING Real Estate Investment Management (ING REIM) announced on Wednesday that CEO George Jautze has decided to retire. The vacancy created by Jautze’s departure from the post he took up in the summer of 2009 will not be filled. William Connelly will assume responsibility for ING REIM in addition to ...
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PropertyEU Archive
Cushman & Wakefield boosts Pan-Nordic platform
Global property adviser Cushman & Wakefield has named Malling & Co as its new alliance partner in Norway. Cushman & Wakefield had previously held an alliance agreement with Mork & Partners before it was recently acquired by Malling & Co.
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News
Manchester pension fund to rebuild office eyesore as beauty
UK – The £7.39bn (€8.48bn) Greater Manchester Pension Fund, the largest local authority scheme in the UK, has been given the green light for a major office redevelopment project in Manchester city centre.
