Latest reports – Page 3207
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PropertyEU Archive
Rezidor to open new hotel in Russia
Belgian hotel group Rezidor has signed an agreement to open a new hotel in Russia. Park Inn Lipetsk, featuring 237 rooms, is under construction and scheduled to open in 2012. 'This hotel marked our 35th signing in 2009. Despite the challenging climate, we could add almost 7,000 rooms to our ...
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PropertyEU Archive
Citycon launches construction of Helsinki shopping centre
Finnish property company Citycon Oyj has unveiled plans to develop a new shopping centre as part of a larger mixed-use project near the metro station of Myllypuro in Helsinki. The project, involving total development costs of EUR 60 mln, will consist of a mall, 255 apartments as well as an ...
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PropertyEU Archive
ECE, HSH RE receive green light for Bulgarian mall project
German developer ECE Projektmanagement has received a construction permit for a new shopping centre in downtown Plovdiv, Bulgaria's second largest city, Polish papers reported this week.
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PropertyEU Archive
Deka agrees sale-and-leaseback with Tesco in Prague
Deka Immobilien has acquired the Tesco Distribution Centre in the Prague metropolitan area in the Czech Republic. The logistics property is part of the portfolio held by the open-ended property fund Deka-ImmobilienEuropa. The vendor is Tesco Group, the world's third largest grocery retailer. The purchase has been implemented as part ...
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PropertyEU Archive
NordCapital acquires ING RED's Facet project
German investment group NordCapital has acquired the Facet office project in the Netherlands from ING Real Estate Development. The financial details were not disclosed but it is believed the investment volume was EUR 65 mln.
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PropertyEU Archive
Union Investment acquires EUR 1.6 bn worth of assets
Union Investment was again one of the most active players in the European real estate market in 2009. The Hamburg-based property fund manager acquired properties worth EUR 1.6 bn over the past 12 months. A total of 18 properties and projects were purchased for its six open-ended retail and special ...
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PropertyEU Archive
Hamborner set to become third German REIT
German property company Hamborner has applied for conversion to REIT status with effect from 1 January 2010. The company expects the change in status to be entered in the German Commercial Register in a couple of weeks, after which the company will change its name to Hamborner REIT. If approved, ...
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PropertyEU Archive
RREEF buys 7 nursing homes for EUR 95m
German investor RREEF Spezial Invest has acquired seven nursing homes in three separate transactions with real estate firms Semmelhaack and the Diringer & Scheidel group and a developer from Cologne. The transaction price amounts to a total of EUR 95 mln.
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PropertyEU Archive
Allianz takes 50% stake in Budapest's Allee mall for EUR 100m
Allianz Real Estate Germany and ING Real Estate Development (ING RED) announced on Wednesday that they have reached agreement on the sale of a 50% share in the Allee Shopping Centre in Budapest to Allianz for about EUR 100 mln. ING Real Estate Development will keep the remaining 50% ownership ...
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PropertyEU Archive
Quinlan Private Golub to manage Budapest’s bank center
GLL Real Estate Partners has appointed Quinlan Private Golub, the Central European real estate investment and development group, to manage its centrally-located Bank Center. The 30,000 m[sup]2[/sup] office building is currently almost fully leased to tenants including Citibank, OTP, Regus and Amgen.
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PropertyEU Archive
DTZ appoints Patrick Delcol as Country Head of Poland
DTZ has announced the appointment of Patrick Delcol as country head of DTZ in Poland, with effect from 1 February 2010. Delcol, 45, joins from ING Real Estate Development, Poland, where he was Development Director and a member of the Board. Previous roles in Poland include CEO of Centrum Development ...
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PropertyEU Archive
Take-up in major German cities falls 29% in 2009
In 2009 approximately 2 million m[sup]2[/sup] of office space was leased in the five major German office markets of Berlin, Düsseldorf, Frankfurt, Hamburg and Munich, according to a report by the German subsidiary of real estate adviser Savills. This corresponds to a reduction of 29% when compared to 2008. As ...
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PropertyEU Archive
BNP Paribas: investment volume set to rise 35% in 2010
BNP Paribas Real Estate sees commercial real estate investment rising 35% in 2010 compared to 2009. 'Investors are making a moderate return to large deals as borrowing conditions have eased and they gain a better understanding of economic and real estate prospects,' the adviser said in its latest report Outlook ...
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PropertyEU Archive
Tesco-British Land JV arranges EUR 352m refinanicng
Tesco BL Properties (TBL), a 50/50 joint venture between British Land Company and supermarket giant Tesco has completed the refinancing of its retail portfolio with a new £315 mln (EUR 352 mln) five-year term loan. The funds were used to repay TBL's existing bank loan on its scheduled maturity ...
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PropertyEU Archive
SWIP buys distribution warehouse in Northampton
Scottish Widows Investment Partnership Property Trust has acquired the freehold interest of a prime distribution warehouse located on Swan Valley Park, Northampton for £27.525 mln (EUR 30.84 mln) from PMB Holdings Ltd. The price reflects a net initial yield of 6.73%.
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PropertyEU Archive
RED secures financing for first Cadran in Romania
Immorent is providing EUR 8 mln in financing for RED’s first Cadran commercial centre that is to be developed in Husi, North East Romania. Immorent Romania is part of the Erste Group.
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PropertyEU Archive
Nexity launches mixed-use project in Brussels
The Belgian arm of French property company Nexity has launched the development of a new mixed-use project on one of the last available sites in the European district of Brussels. Designed by architects A2RC, the project consists of three elements, in particular a 110-room hotel, residential apartments and office space. ...
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PropertyEU Archive
Gide Loyrette Nouel advised on largest Polish deal
International law firm Gide Loyrette Nouel said on Wednesday that it advised Mayland Real Estate on the sale of two Polish shopping centres to private equity firm MGPA in what has been described as the largest real estate transaction in Poland since 2007.
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PropertyEU Archive
UK mall transactions rise sharply in Q4
A flurry of activity in the UK shopping centre sector during the final quarter of 2009 generated annual turnover of more than £2 bn (EUR 2.2 bn), approximately 42% ahead of 2008, according to property consultant Cushman & Wakefield.
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PropertyEU Archive
Valad secures major letting near Munich
European multi-let specialist fund and asset manager Valad Property Group has secured a major letting at the former HQ of high-end fashion house Escada at Margaretha-Ley- Ring in Aschheim-Dornach, near Munich. One of Europe’s leading fashion wholesalers, Schustermann and Borenstein, has taken 9,600 m[sup]2[/sup] in the building on a new ...
