Latest reports – Page 3313
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PropertyEU Archive
XXI Century divests interests in four projects
Ukrainian property company XXI Century Investments has sold its stakes in four projects for a total $9.3 mln (EUR 6.5 mln). The proceeds will be used to
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PropertyEU Archive
Knight Frank expands into Romania
Knight Frank has expanded its European network into Romania and formed an association with Bucharest-based commercial property agency Prime Property Advisers. Prime Property Advisers was established by two former directors of Colliers International Romania, Horatiu Florescu and Monica Barbu. They each have more than 10 years' experience in the Romanian ...
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PropertyEU Archive
Fabege sells industrial property in Stockholm
Swedish real estate firm Fabege has sold its Generatorn 17 property in Ulvsunda, Stockholm to ITK hiss for SEK 60 mln (EUR 5.5 mln). The property comprises about 5,900 m[sup]2[/sup] of industrial space and the occupancy date is 1 July 2009. 'The sale is in line with our strategy of ...
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PropertyEU Archive
Aareal Bank issues EUR 500 mln mortgage bond
German property bank Aareal Bank has announced that it successfully placed a EUR 500 mln, 3.25 year mortgage bond issue on the capital market. Given the 2.62% coupon, the bond's issue price of 99.71% is equivalent to a spread of 45 basis points above mid-swaps. The transaction was syndicated by ...
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PropertyEU Archive
Redevco seals long-term office lease deal
Dutch property company Redevco has concluded a long-term lease agreement with ICT consultancy Finace for some 2,000 m[sup]2[/sup] of office space and 34 parking spaces in the central Dutch town of Leusden.
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PropertyEU Archive
Metropol backs luxury hotel project in Montenegro
Russia's Metropol Group has entered into an agreement with Banyan Tree Hotels & Resorts to develop a luxury hotel at Metropol's Sveti Marko (Saint Marko) island resort in Montenegro.
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PropertyEU Archive
Ric Lewis establishes own investment firm
Property veteran Ric Lewis has launched a new real estate investment management company, named Tristan Capital Partners. Tristan will specialise in real estate investment strategies across the UK and Continental Europe drawing upon Lewis' extensive experience as the former CEO of Curzon Global Partners and chief investment officer for AEW ...
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PropertyEU Archive
SEB lifts redemption ban on ImmoInvest fund
SEB Asset Management lifted the suspension of unit redemption for the SEB ImmoInvest open-ended real estate fund on 29 May 2009, in line with its previous announcement that it would not be utilising the full statutory suspension period of nine months. SEB said that positive signals from sales partners and ...
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PropertyEU Archive
GPR 250 Europe returns slightly positive in May
The GPR 250 Europe index delivered a limited return of 0.8% in May, following on from a positive result in April. The best index performer in May was Italy at 20.2%, followed by France (5.4%); the Netherlands (5%), Finland (3.8%), Poland (GTC 2.9%), Switzerland (2.8%) and Germany (2.1%).
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PropertyEU Archive
HRE capital increase clears way for full nationalisation
Soffin, the German financial market stabilisation fund, will hold 90% of Hypo Real Estate (HRE) following a EUR 2.96 bn capital increase which was approved by a majority of HRE shareholders on Wednesday. The capital raising exercise clears the way for a complete takeover of the ailing property financier, Soffin ...
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PropertyEU Archive
Swiss Prime acquires 30% of Jelmoli Holding in takeover bid
Listed real estate investment company Swiss Prime Site (SPS) has made an unsolicited offer for all the shares in its largest rival, Jelmoli Holding. SPS said the proposed takeover would create an undisputed Swiss leader in real estate with a balanced portfolio valued at CHF 8 bn (EUR 5.3 bn).
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PropertyEU Archive
New UK property lending down 41% in 2008
New lending to commercial property in the UK fell 41% in 2008, according to the latest edition of the annual Commercial Property Lending Survey conducted by De Montfort University in the UK. This sharp decline, which is expected to continue through 2009, has meant that little new debt is available ...
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PropertyEU Archive
AMB Property Europe leases 11.000 m[sup]2[/sup] in Amsterdam
AMB Property Europe, a subsidiary of industrial real estate developer and operator AMB Property Corporation, said it has leased 11,000 m[sup]2[/sup] to an unnamed electronics firm at its Schiphol Distribution Center near Amsterdam in the Netherlands. The agreement means that the centre, which is located in a key distribution area ...
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PropertyEU Archive
Hammerson sells Paris jewel at 24% discount
UK REIT Hammerson has sold Les Trois Quartiers in Paris to private equity real estate investment group MGPA for EUR 210 mln - a 24% discount on the December 2008 valuation of the property at EUR 275 mln. Les Trois Quartiers comprises almost 30,000 m[sup]2[/sup] of retail and office space ...
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PropertyEU Archive
Skanska and Platzer enter into property transaction
Skanska and Platzer have entered into a property transaction agreement in which Skanska will divest two parking garages and an office building in Gothenburg and acquire four development properties. Skanska will receive a net amount of SEK 168 M, generating a gain of SEK 97 M which is reported in ...
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PropertyEU Archive
Caam Re sells logistics centre for EUR 24.5 mln
Caam Real Estate Italia, the manager of the closed-end property funds Caam Re Italia and Caam Re Europa, has agreed to sell a logistics platform in Basiano, near Milan, to an undisclosed investor. The transaction price of EUR 24.5 mln represents a 17% discount on the price Caam initially paid ...
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PropertyEU Archive
Foruminvest sells Lille mall to Pramerica
Foruminvest France has sold shopping centre Le 31 in Lille, to two special funds of Pramerica, the Munich-based investment fund. The acquisition price was well above EUR 150 mln for a yield of around 6%, the company said in a press release. Negotiations on the deal became serious in the ...
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PropertyEU Archive
SITQ leases 11,000 m[sup]2[/sup] in La Defense's B Building
French oil group GDF Suez has leased an additional 11,000 m[sup]2[/sup] of space within the B Building in Paris' La Defense business district. The rest of the building, which is owned by the property arm of Canadian savings bank Caisse de dépôt et placement du Québec, SITQ, is also occupied ...
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PropertyEU Archive
Frey starts development of Moulins retail park
French property company Frey has announced the launch of the development of the Moulins retail park located in Soissons, Northern France.
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PropertyEU Archive
Luxembourg office market hit by crisis
Luxembourg saw take-up fall 71% in Q1 to 14,200 m[sup]2[/sup] compared to the year-earlier period. This marks a fall of 60% compared to the Q1 five-year average, according to a new report by Savills.
