Latest reports – Page 3278
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PropertyEU Archive
YIT sells residential projects for EUR 36.6m
Finnish construction group YIT has sold five rental housing projects to Icecapital Housing Fund II for EUR 36.6 mln. The projects contain 296 apartments in all and are located in different parts of Finland - Nurmijärvi, Mäntsälä, Lahti, Jyväskylä and Kuopio. Building work has commenced and the projects will be ...
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PropertyEU Archive
Prologis to develop new facility in Scotland
Prologis, the world's leading provider of distribution facilities, announced on Thursday it will develop a new, 153,314 m[sup]2[/sup] distribution facility in Scotland for a leading UK retailer. The existing Prologis customer currently occupies more than 300,000 square feet at ProLogis Park Coventry in the West Midlands, UK.
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PropertyEU Archive
Five-star Kempinski Hotel in Halle sold to German investor
Acting on behalf of a private company, Christie + Co has sold the K&K Kongress-und Kulturzentrum, a mixed-use complex in Halle, Germany, which includes the luxury Kempinski Hotel Rotes Ross, to Aurum AG, a company owned by German entrepreneur Hans Rudolf Wöhrl, for an undisclosed sum.
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PropertyEU Archive
BVK buys Centrium office building in London for EUR 147m
German investor Bayerische Versorgungskammer (BVK) has acquired the 17,000-m[sup]2[/sup] office property Centrium in London for about £128 mln (EUR 147 mln) from US real estate investor Tishman Speyer, Thomas Daily has reported. The transaction price, which was settled in cash, corresponds to an initial net yield of about 7.25%.
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PropertyEU Archive
Corio cautiously upbeat on 2009
Dutch retail property group Corio reported a higher-than-expected second-quarter operting profit of EUR 52 mln. The company expects full-year operating profit to increase modestly from the EUR 204 mln reported at end-2008, Reuters reported, citing lower financing expenses and acquisitions.
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PropertyEU Archive
Harbert acquires four multi-let estates from Segro
Asset manager Harbert Management Corporation and Canmoor Asset Management have acquired four multi-let industrial estates in Southeast England from Segro, the pan-European industrial property REIT, for almost £104 mln (about EUR 118 mln).
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PropertyEU Archive
Segro sees signs UK is bottoming out
Europe's largest listed industrial landlord, Segro said on Thursday it is confident signs of recovery in the UK commercial property market can be sustained, as values continue falling on the continent, newswire Reuters reported.
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PropertyEU Archive
Westfield books loss in H1 after more writedowns
Westfield Group, the world's largest owner of shopping centres, reported a first-half net loss of A$708 mln (EUR 411 mln) reflecting a A$2.9 bn writedown on the value of its property portfolio.
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PropertyEU Archive
Westimmo boosts new business
Westdeutsche ImmobilienBank (Westimmo) saw net interest income rise 3% in the first six months of the year to EUR 86.9 mln compared with EUR 84.4 mln in the same year-earlier period. Operating profit rose 16% to EUR 11 mln.
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PropertyEU Archive
Gap between prime and secondary yields widens
The average yield gap between prime and secondary office properties in European CBDs has widened to around 85 basis points at end Q2 2009, back to mid-2006 levels. This is one of the key conclusions of Savills European Quarterly data bulletin, which examines office, retail and industrial sectors. During the ...
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PropertyEU Archive
Plaza Centers books loss in H1
Plaza Centers, the emerging markets property developer, reported a net loss of EUR 28.4 mln in the first half of this year mainly reflecting fair value changes of issued bonds. In the year-earlier period, the Amsterdam-listed company booked a profit of EUR 44.5 mln.
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PropertyEU Archive
London hotel occupancy exceeds 2008 levels
London hotel occupancy figures for July 2009 exceeded levels achieved in the same month last year, according to the latest HotStats survey by industry experts, TRI Hospitality Consulting.
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PropertyEU Archive
US investors flee European market
The withdrawal of US buyers is one of the most significant changes in the structure of the European commercial real estate market over the last two years since the credit crunch took hold, according to new research from CB Richard Ellis.
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PropertyEU Archive
Global CEO LaSalle IM moves to Asia
LaSalle Investment Management announced on Wednesday that its CEO Jeff Jacobson will relocate to LaSalle's Asia headquarters in Singapore effective 1 January 2010.
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PropertyEU Archive
Prime Property Management set to expand its German portfolio
Prime Strategic Germany has changed its name to Prime Property Management and intends to expand in the following months. The company, which was founded in October 2007, specialises in asset management of commercial properties on behalf of national and international investors.
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PropertyEU Archive
Max to take over Industrious Group as planned
UK real estate firm Max Property has received confirmation from the receivers of failed Industrious Group that it may complete the £232 mln (EUR 265 mln) acquisition as planned by 7 October.
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PropertyEU Archive
Segro finalises Brixton takeover
London and Paris-listed Segro has become the leading industrial property REIT in Europe following the completion of the takeover of Brixton on Tuesday. The combined group has EUR 6.4 bn of property under management.
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PropertyEU Archive
C&W acquires Japanese asset manager
Cushman & Wakefield has acquired Pacific Investment Corporation, the private fund asset management subsidiary of Japanese real estate fund giant Pacific Holdings Group. The firm will operate in future as Cushman & Wakefield Asset Management KK.
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PropertyEU Archive
Aberdeen sees improved performance outlook for Benelux
The performance outlook for the Benelux property markets is improving, according to the latest report from Aberdeen Property Investors. Occupier markets may have weakened, but market re-pricing has reduced the scope for further outward yield shifts and rental growth prospects in the medium to longer term are improving, according to ...
