Latest reports – Page 3220
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PropertyEU Archive
Unilever picks Marr Plaza business centre as new Moscow HQ
The Russian affiliate of Unilever has signed a new lease agreement with private investor Marr Capital for the Marr Plaza business centre in Moscow. The consumer goods giant will use the property through 2020 as its headquarters in the Russian capital.
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PropertyEU Archive
Union Investment adds office building to Vienna holdings
German fund manger Union Investment Real Estate has acquired the 'Rund Vier' office building in Vienna from IC Projektentwicklung. The parties agreed not to disclose the financial details.
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PropertyEU Archive
TK Development sells retail park in Sweden
Danish property developer TK Development said on Monday it has sold Enebyängen, its 14,300 m[sup]2[/sup] retail park project in Danderyd, Sweden, to German open-ended fund manager Commerz Real for some SEK 280 mln (EUR 27 mln). The property is earmarked for Commerz Real's Haus Invest Europa fund.
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PropertyEU Archive
Commerz Real purchases Stockholm retail park for EUR 28m
German open-ended manager Commerz Real has signed the deed to acquire the Danderyd Retail Park development in Stockholm for about EUR 28 mln. The shopping centre consists of nine separate properties with a gross lettable area of roughly 14,300 m[sup]2[/sup].
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PropertyEU Archive
Icade to invest EUR 250m in redevelopment of Descartes tower in Paris
French listed property developer and investor Icade has announced plans to completely renovate its Descartes tower at La Défense business district in Paris. The company said its decision follows the imminent departure of the sole tenant in the skyscraper, IBM, which will vacate the building by year-end.
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PropertyEU Archive
Anders Kupsu leaves Skanska for MD post at Diligentia
Anders Kupsu is stepping down as president of Skanska Commercial Development Nordic to take up the position of managing director of Diligentia, one of Sweden's largest real estate companies. Kupsu will leave Skanska in spring 2010 after 20 years with the company and assume his new position on 1 July.
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PropertyEU Archive
Internos buys loss-making GPT Halverton for EUR2
Internos Real Investors said on Monday it has acquired GPT Halverton (GPTH), the European property fund management arm of Australian real estate investment trust The GPT Group, for the nominal sum of EUR 2. Internos said the price reflected GPTH's current loss-making position and the ongoing funding requirements of the ...
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PropertyEU Archive
Cap & Reg's Junction fund sells two retail parks for £82m
Capital & Regional, the co-investing property asset manager, said on Monday that the Junction Fund has sold the Kittybrewster retail park in Aberdeen and the Slough retail park in Slough to fund managers Threadneedle Property Investments. The transaction price amounts to around £82 mln (EUR 91 mln), reflecting a net ...
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PropertyEU Archive
GPE JVs acquire £35m of assets in London
UK property investment company Great Portland Estates (GPE) said on Monday that two of its joint ventures have exchanged contracts to acquire two long leasehold properties on Regent Street, London, W1 from clients of F&C REIT. The transaction price amounts to a total of £35 mln (EUR 39 mln).
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PropertyEU Archive
Minerva leases 13,500 m[sup]2[/sup] to law firm Clyde & Co
UK property company Minerva said it has reached agreement on a 20-year lease with international law firm Clyde & Co in a deal which will provide Clyde with its new headquarters. The agreement is subject to contract and final partner approval at Clyde & Co, which is expected to occur ...
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PropertyEU Archive
IVG hives off German property management
German listed property company IVG Immobilien announced on Tuesday that it is transferring its German property management activities to two specialist partner companies in order to focus on its core investment and fund activities. Outside Germany, management of IVG assets is largely handled by third-party service providers.
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PropertyEU Archive
UK capital growth reaches 15-year high in November, says IPD
UK commercial property values rose by the largest monthly figure in 15 years, according to November's IPD UK Monthly Index. Capital growth was 2.4% last month, bringing the compounded growth since the market began ascending in August to 5.4%. Year-to-date capital growth is now -8.4%, while steady income returns leave ...
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PropertyEU Archive
Recovery in property markets nears take-off: ING REIM
Parts of Continental Europe are close behind the UK and some Asian countries that are poised to lead the way to recovery in commercial real estate, according to ING Real Estate Investment Management’s annual global research study.
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PropertyEU Archive
Helical Bar and PCP joint venture acquires Glasgow mall
London-listed developer-investor Helical Bar, in a joint venture with Prime Commercial Properties (PCP), has acquired the long leasehold interest in the Clyde Shopping Centre, Clydebank, Glasgow, for a cash consideration of about £69 mln (EUR 77 mln). The vendor was Co-operative Insurance Society (CIS).
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PropertyEU Archive
John Deere takes 45,000m[sup]2[/sup] at Giffels industrial park in Russia
Giffels Management Russia has reached an anchor leasing agreement with Deere & Company for 45,000 m2, or over 60%, of the 75,000-m[sup]2[/sup] Phase 1 of Giffels South Gate Industrial Park. John Deere will manufacture a range of agricultural, construction and forestry equipment and locate its nationwide parts distribution centre ...
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PropertyEU Archive
Israeli insurers buy Norwich Union HQ for £150m
Two Israeli insurance groups have acquired Norwich Union's former headquarters in the UK city of Norwich from Telereal for about £134 mln (almost EUR 150 mln). Harel Insurance Investments & Financial Services and Menora Mivtachim Holdings said they are each paying £64.5 mln to take stakes of 48% each in ...
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PropertyEU Archive
Sofia Property Fund faces insolvency claim
London-listed Sofia Property Fund, formerly Lewis Charles Sofia Property Fund, said on Tuesday that its Bulgarian subsidiary faces insolvency court proceedings but intends to vigorously oppose the application. Developer Westhill, which has partnered with the fund on selected projects, has indicated it has lodged a claim with the relevant court ...
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PropertyEU Archive
Benson Elliot completes hotel conversion in Düsseldorf
Benson Elliot Capital Management has completed a EUR 6 mln office-to-hotel conversion programme at the Deutsch-Japanisches Center in Düsseldorf. The project transformed 5,000 m[sup]2[/sup] of office space into 85 executive hotel rooms and 650 m[sup]2[/sup] of convention space that can accommodate up to 1,000 delegates at the city's 5-star Nikko ...
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PropertyEU Archive
Dutch fashion chain WE to expand in France and Germany
Dutch fashion chain WE plans to increase its network of stores to around 300 from 177 at present by expanding strongly in France and Germany. The company told Dutch financial newspaper Het Financieele Dagblad that it will generate more turnover abroad than at home for the first time next year ...
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PropertyEU Archive
VIB Vermogen buys four assets for EUR 22.5m
German commercial property company VIB Vermögen said on Monday it has further expanded its real estate portfolio with the purchase of four newly built properties for a total investment volume of around EUR 22.5 mln. The transactions will generate additional annualised net rental income of EUR 1.6 mln.
