Latest reports – Page 3212
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PropertyEU Archive
SEB acquires first property in Austria
SEB Asset Management has acquired its first property in Austria for its SEB Europe REI real estate special fund from Dutch developer Redevco. No financial details were disclosed.
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PropertyEU Archive
Colliers International merges with FirstService REA
Colliers International and FirstService Real Estate Advisors have announced they will combine their operations and global real estate services platforms. The combined entity will assume FirstService REA’s operating and partnership model and operate as Colliers International in 61 countries around the world.
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PropertyEU Archive
UK bank lending restricted by lack of suitable stock
Only 12% of UK banks are willing to extend commercial property loans of over £100 mln. This is one of the conclusions of a survey-based analysis by Jones Lang LaSalle of the UK banking sector’s approach to commercial property lending between now and 2011. The survey indicates, however, that loan ...
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News
CPPIB joint venture pursues forced retail sale
CANADA/UK - The Canada Pension Plan Investment Board (CPPIB) has entered into a joint venture with UK property company Hammerson to take advantage of the forced sale of a prime UK retail asset.
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News
Varma agrees deal for Kesko retail stores
FINLAND – Varma Mutual Pension Insurance Company has entered into a sale and leaseback arrangement with The Kesko Group for 13 its stores, including one owned by the retailer’s pension fund.
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News
USS beefs up its real estate strategy
UK – Universities Superannuation Scheme (USS) has poached Alex Turner from Hermes Real Estate to manage its UK office portfolio, just as other changes are being made to improve its performance.
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News
HSBC Pension Fund sells UK real estate holding
UK – The HSBC Pension Fund has sold Wilmslow Park in central Manchester to Legal & General (L&G) Property’s Managed Fund.
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News
UK’s Merchant Navy Pension rebalances real estate
UK – The Merchant Navy Officers Pension Fund (MNOPF) has sought to rebalance its UK real estate portfolio and sold three commercial real estate assets in the UK, for almost a third more than recent valuations.
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PropertyEU Archive
Beni Stabili completes sales above book value
Beni Stabili has completed further sales of nine properties for a total of EUR 38.2 mln during the fourth quarter of 2009. This is slightly more than the book value at 30 September 2009 which stood at EUR 34.9 mln. The company also completed the sale of a property in ...
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PropertyEU Archive
BNP Paribas funds buy and sell for EUR 66m
BNP Paribas REIM's asset management arm said that its Estense Grande Distribuzione property investment fund has acquired a retail park located in Camposampiero, Northern Italy, from Doss Spa. The transaction price amounts to around EUR 27 mln.
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PropertyEU Archive
Union Investment buys Hamburg property for EUR 60m
Union Investment Real Estate has acquired the Geschäftshaus Ottensen business premises in Hamburg from Pirelli Real Estate and the B&L Gruppe for EUR 60 mln. The deal follows the purchase of the Mercado shopping centre and the adjacent business premises earlier in 2009.
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PropertyEU Archive
Pirelli RE's Olinda fund sells Milan asset for EUR 65m
Olinda Fondo Shops, a closed-end real estate investment vehicle managed by Pirelli Real Estate, said it has sold an office property in Milan to an Italian private investor for nearly EUR 65 mln. The buyer was not disclosed.
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PropertyEU Archive
Icade buys Morgan Stanley's 94.5% stake in La Lucette
Icade and Morgan Stanley Real Estate Fund V have entered into a binding framework agreement for the acquisition by Icade of MSREF's 94.5% stake in Compagnie la Lucette, a Paris-listed real estate investment trust.
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PropertyEU Archive
Fabege sells in Nacka and Västberga
Swedish property company Fabege has sold its Sicklaön 145:20 property in Nacka to Järla Marknad for SEK 50 mln (EUR 4.8 mln) and its Elektra 20 leasehold to Fastighets AB TESST for SEK 7 mln. Sicklaön 145:20 comprises a lettable floor area of 3,300 m[sup]2[/sup]. The Electra 20 leasehold property ...
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PropertyEU Archive
GPR 250 Europe index gains 41.2% in 2009
The GPR 250 Europe Index rose 41.2% over 2009, led by Austria with an increase of 233.5%. The European index outperformed all the other regional indices, with Asia turning in the worst performance over the year with 23.9%.
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PropertyEU Archive
Max sells business park to Scottish Widows and Centurion
Max Property Group has announced the sale of Southwood Business Park to Scottish Widows and Centurion Properties for £16.5 mln (EUR 18.4 mln). The sale price represents a profit of £1.8m over the property's September valuation. Net of debt repayment, £7.8 mln of cash will be released for new acquisitions.
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PropertyEU Archive
Reyal Urbis sells Ombu tower for EUR 45m
Troubled Spanish property company Reyal Urbis has agreed to sell the Ombu office tower in Madrid for around EUR 45 mln to an unnamed investor. The sale is part of the company's efforts to renegotiate the main terms of its EUR 5 bn debt load.
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PropertyEU Archive
CBRE sees deals concentrated in Big Three
For the coming year, CB Richard Ellis expect further increases in investment volumes in the UK, German and French markets. The adviser made the prediction in a preview of its forthcoming report ' After the Storm: Where Next for European Property?'. It pointed out, however, that the growth rate in ...
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PropertyEU Archive
Bouwfonds REIM buys in Norway and Germany
The Bouwfonds European Residential Fund has acquired properties in Germany and Norway with a total value of EUR 29 mln. The two residential properties in Germany were purchased at a subsantial discount follwoing insolvency proceedings.
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PropertyEU Archive
Hammerson sells Paris office property at 14% discount
Hammerson, the UK and French real estate investment trust, has announced the sale of the office building at 148, Rue de l'Université, Paris 7ème to a client of Invesco for EUR 84.5 mln. The price marks a 14% discount to the book value of EUR 97.8 mln at end-June 2009. ...
