Latest reports – Page 3193
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PropertyEU Archive
Mazabi Gestion buys EUR 40m London hotel
Spanish company Mazabi Gestion de Patrimonios has acquired the Abba Queen's Gate hotel in Kensington, London valued at around EUR 40 mln. The property was bought through a sale-and-leaseback agreement with hotel operator Abba.
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PropertyEU Archive
RBS set to book losses on German property portfolio: FT
Royal Bank of Scotland is poised to book a loss of several hundred million pounds after being forced to take back the keys on £1.8 bn (EUR 2.1 bn) in German properties bought by a fund run by Morgan Stanley, according to an unconfirmed report in the Financial Times.
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PropertyEU Archive
Nordic investment rebounds in Q4 2009
Nordic commercial real estate investment turnover grew to EUR 5 bn in the second half of 2009, up 60% on the first half of the year, according to figures from CB Richard Ellis. The rebound was witnessed across all Nordic markets and is confirmation that investor interest is spreading across ...
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PropertyEU Archive
Reyal Urbis to swap debt for EUR 400m of property
Spanish real estate company Reyal Urbis said it is negotiating a deal with its creditor banks to exchange debt for around EUR 400 mln worth of real estate. In a statement to the Spanish stock market regulator CNMV, the company said that the operation is part of its large plan ...
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PropertyEU Archive
Aberdeen fund acquires shopping centre in Finland
Aberdeen Property Investors said on Monday that its European Balanced Property Fund has acquired the Chydenia-I shopping centre in Kokkola, Finland, from Rockspring PIM. Financial details were not disclosed.
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PropertyEU Archive
Focus Nordic Cities plans new acquisitions in Northern Europe
Focus Nordic Cities, an open-ended real estate fund managed by Catella Real Estate AG KAG, is planning to make new acquisitions in Northern Europe with purchases in Helsinki, Copenhagen and Hamburg slated for the next couple of months.
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PropertyEU Archive
Wereldhave eyes Unibail-Rodamco's Dutch portfolio
Wereldhave has announced it is in talks with Unibail-Rodamco regarding a possible purchase of a number of Dutch shopping centres. The talks are reportedly centred on the Franco-Dutch company's smaller shopping centres in the Netherlands with a minimal surface area of 25,000 m[sup]2[/sup]. Analysts are ruling out the possibility that ...
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PropertyEU Archive
Office investment rises sharply in CEE in H2 2009
Stronger demand for office space in Central and Eastern Europe (CEE) in the second half of 2009 compared to H1 2009 cushioned the full-year decline in the region, according to new research by CB Richard Ellis (CBRE). H2 2009 office take-up increased by 22% as compared to H1 2009, but ...
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PropertyEU Archive
UBS plans EUR 361m capital raise for Swiss fund
Swiss fund manager UBS said that it plans to carry out a capital increase of up to CHF 530 mln (EUR 361 mln) for its Swiss Mixed Sima real estate investment fund. The fund raising will be executed through the issue of new warrants, and the financial details of the ...
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PropertyEU Archive
Skanska sells Flat Iron project in Stockholm for EUR 85m
Skanska Commercial Development Nordic has sold the Flat Iron Building office project in Stockholm to Swedish real estate company Norrporten for SEK 850 mln (EUR 84.7 mln). The handover of the project is scheduled to take place in March 2010.
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PropertyEU Archive
Occupier markets show signs of cautious optimism
Europe’s economies continue to show encouraging signs of economic recovery, according to Jones Lang LaSalle’s Q4 2009 European Property Clock. However, the time lag between the wider economy and European office occupier markets remains evident. There are also significant differences between markets in terms of their position in ...
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PropertyEU Archive
PEPR posts 13.4% portfolio devaluation in 2009
Prologis European Properties (PEPR), one of Europe's largest owners of distribution facilities, said the total open market value of its like-for-like portfolio decreased by 13.4% in 2009, with continental European countries recording valuation declines of between 12.3% and 18.9% compared with 2008. The UK showed signs of improvement, falling 5.2% ...
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PropertyEU Archive
Oslo Areal acquires office building in Stavanger for EUR 50m
Property company Oslo Areal has completed the acquisition of the Kanalpiren office building in the Norwegian city of Stavanger for NOK 410 mln (EUR 50.5 mln). The building was sold by Hinna Park, a wholly owned subsidiary of Fornebu Utvikling (FBU) - formerly Scandinavian Property Development. Settlement took place on ...
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PropertyEU Archive
German property market remains weak: RICS
The near-term outlook for the German commercial property market remains a little downbeat, according to the latest Global Real Estate Weekly report from RICS. Capital values and rents are expected to continue edging lower, according to the RICS survey.
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PropertyEU Archive
IPD sees central London office rental revival in 2010
City and West End offices resumed rental growth in January, at 0.2% and 0.3% respectively, according to the IPD UK Monthly Index. During the same month, capital growth eased to 1.0%.
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PropertyEU Archive
Stenham sells London building to Aegon for £40m
UK investor Stenham Property has completed the sale of London's 52 Grosvenor Gardens office building for over £40 mln (EUR 45 mln) just nine months after acquiring it from Grosvenor Estates for £25 mln. According to a Stenham spokesperson, the property was sold to the asset management arm of Dutch ...
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PropertyEU Archive
UK commercial property sees yields stabilise
Prime yields for UK commercial property stabilised in January, dropping just 7 basis points, the smallest monthly fall since May 2009, according to Cushman & Wakefield’s January Business briefing on the UK property investment market. The slowdown takes the all-sector average to 6.02%. Renewed falls of the scale seen last ...
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PropertyEU Archive
PEPR cautious on outlook after 'year of deleveraging' in 2009
Prologis European Properties (PEPR) said EPRA earnings fell 18.8% to EUR 103.6 mln in 2009 from EUR 127.7 mln in 2008, due to a EUR 26.9 mln decline in rental income and the EUR 10 mln early termination of CMBS interest rate swaps. The decrease was partially offset by lower ...
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PropertyEU Archive
Multi Corporation ousted from 1st place in developers ranking
Multi Corporation has been ousted from first place in the PropertyEU ranking of top developers in 2009 both in terms of the value and the size of its development pipeline. In value terms, ING Real Estate Development now takes the lead with a pipeline valued at EUR 7.7 bn at ...
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PropertyEU Archive
Invesco closes EUR 66m acquisition of Stockholm Marriott Courtyard
Invesco Real Estate announced on Thursday that it has concluded the acquisition of the newly built Marriott Courtyard Hotel in Stockholm for EUR 66 mln. The transaction was the 15th hotel purchased or committed to acquire on behalf of Invesco's hotel fund and the fund's first acquisition in Scandinavia.
