Latest reports – Page 3255
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PropertyEU Archive
TBWA renews Brussels lease
The advertising group TBWA has renewed the lease of its 2,200 m[sup]2[/sup] offices at the Avenue de la Couronne in Brussels. Tequila, which is part of TBWA, will move to the same address, taking up an area of 1,140 m[sup]2[/sup].
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PropertyEU Archive
Yields bottom out in Barcelona office market
Yields for prime office assets in the Barcelona market have bottomed out over the last nine months after rising from 4% in Q3 2007 to 6.25% in Q1 2009, according to the latest Barcelona Office Report by international real estate advisor Savills. This has generated 'a window of opportunity for ...
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PropertyEU Archive
CBRE Investors sells London property for EUR 32m
CB Richard Ellis Investors said it has sold Mutual House on London's Regent Street for £30 mln (EUR 32 mln) to a private overseas investor.
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PropertyEU Archive
Jernhusen snaps up Centralhuset in Sweden for EUR40m
Swedish government-owned property company Jernhusen has purchased the Centralhuset mixed-use asset in Gothenburg, Sweden from German fund Internationales Immobilien-Institute GmbH for approximately EUR 40 mln. The buyer was represented by real estate adviser Savills.
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PropertyEU Archive
Rhein-Galerie mall receives DGNB gold certificate
The Rhein-Galerie shopping centre in Ludwigshafen has been awarded a preliminary gold certificate by the German Sustainable Building Council (DGNB) during the EXPO REAL fair held this week in Munich. The mall, which is part of Union Investment Real Estate's portfolio and which was developed by ECE, combines some 30,000 ...
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PropertyEU Archive
Colliers CRE sees H1 revenues slide, plans capital raise
UK commercial real estate consultant Colliers CRE saw revenues drop by 32% to £27 mln (EUR 29 mln) in the first six months of 2009 from £40 mln a year before. The company said that 'market conditions are among the most difficult faced by the industry given the virtual standstill ...
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PropertyEU Archive
EXPO REAL 'higher quality' as attendance drops 15%
The 12th edition of the EXPO REAL property fair in Munich registered a 15% decline in both visitor and exhibitor numbers, the organising firm Messe München announced on Wednesday.
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PropertyEU Archive
Multi’s Espacio Coruña opening in October
Multi Development Spain has announced it will open Espacio Coruña, a three-storey shopping and leisure project, on 20 October 2009. Located in the new residential area of Someso, next to the Elviña and Zapateira University, the 41,000 m[sup]2[/sup] development consists of a Mercadona supermarket, as well as retail units including ...
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PropertyEU Archive
Sonae Sierra presents three new projects at EXPO REAL
Portuguese shopping centre specialist Sonae Sierra showcased three projects in Romania, Germany and Italy at the EXPO REAL trade fair in Munich this week. The projects are in various phases of completion and each represents specific challenges in terms of development and construction, the company said.
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PropertyEU Archive
Sonae Sierra to open EUR 265m mall near Frankfurt
Sonae Sierra will open its Loop5 shopping centre in Weiterstadt near Frankfurt on 9 October, the second major project in Germany the shopping centre specialist has developed with French investor Foncière Euris. The mall comprises 56,000 m[sup]2[/sup] of GLA and represents an investment of EUR 265 mln.
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PropertyEU Archive
Allianz RE aims to boost portfolio to EUR 30bn
Allianz's real estate arm plans to increase its portfolio to around EUR 30 bn over the next four to five years following the German insurance group's decision to raise its allocation to property from 3% to 6%. Stefan Brendgen, CEO of Allianz Real Estate Germany, said during an Expo Real ...
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PropertyEU Archive
Hercules gains bondholder consent to CMBS restructuring
Asset management company Schroders and UK REIT British Land announced on Tuesday that bondholders in the REC 4 retail park fund have unanimously approved proposals to restructure the terms of the £1 bn (EUR 1.08 bn) Commercial Mortgage Backed Security loan facility made to the Hercules Unit Trust.
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PropertyEU Archive
Ashtenne Industrial fund refinances EUR 395m of debt
Aviva Investors and Warner Estate said on Tuesday that their Ashtenne Industrial Fund has refinanced its existing £364 mln (EUR 394 mln) loan facility for a further four years with Royal Bank of Scotland and the Lloyds Banking Group. The fund has also raised £45 mln (EUR 49 mln) of ...
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PropertyEU Archive
Hansteen converts to REIT status
Hansteen Holdings, an investor in British and continental European real estate, has converted to REIT status following the admission of its ordinary shares to trading on the London Stock Exchange’s main market. The conversion to a REIT is a change in Hansteen's tax status, and will have tax consequences for ...
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PropertyEU Archive
RREEF raising core recovery funds for Europe and US
RREEF, Deutsche Bank’s alternative asset investment manager, is seeking to raise two core real estate recovery funds, one for the US and one to operate on a pan-European basis.
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PropertyEU Archive
Property sector cautiously optimistic: JLL
The mood of the property sector at this year's EXPO REAL is 'cautiously optimistic', Jones Lang LaSalle’s Head of European Capital Markets Tony Horrell said in an interview with PropertyEU. 'There seems to be a bit more positive sentiment. At the same time, nobody is talking about development and very ...
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PropertyEU Archive
Echo gets EUR 100m financing from Eurohypo for Polish mall
Echo Investment has reached an agreement with Eurohypo for the financing of its Echo Gallery extension project in Kielce, Poland. The EUR 100 mln financing facility represents the largest credit agreement in the Polish real estate market so far this year, Echo said. The loan, which has to be fully ...
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PropertyEU Archive
Shake-up looms for European asset managers
The European real estate industry will see a wave of asset management mandates exchanging hands in the coming months. That was one of the key conclusions of several of the panel discussions that took place on Tuesday at EXPO REAL. The US has already experienced a similar development. In the ...
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PropertyEU Archive
Hypo Real Estate squeezes out minority shareholders
Hypo Real Estate’s annual general meeting on Monday passed a resolution on the squeeze-out of its minority shareholders, who will receive a cash settlement of EUR 1.30 per no-par value share. The squeeze out was demanded by state-owned German Financial Markets Stabilisation Fund (SoFFin), which currently holds 90% of HRE’s ...
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PropertyEU Archive
Romanian market is ‘blocked’ after bubble bursts
Hopes that the Romanian property market would escape the worst of the financial market crisis proved to be misplaced, panellists on the Romanian investment forum at this year’s EXPO REAL agreed. ‘Romania turned out to be one of the biggest bubbles in the region,’ said Christopher Berlew, managing partner ...
