Latest reports – Page 3316
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PropertyEU Archive
NPRO's Petter Jansen steps down
Norwegian Property's CEO Petter Jansen has informed the Board of Directors that he plans to resign from his position. Jansen has led the company since the summer of 2006. He has agreed to stay in the position until a new leader is in place.
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PropertyEU Archive
Pirelli RE sells 20% of NPL management unit to DGAD
Pirelli RE's board has approved the definitive terms of the agreement to sell 20% of Pirelli & C. Credit Servicing, the group's NPL management arm, to DGAD International, part of Calyon. The operation is part of the previously announced plans to reduce the financial commitment to the business of non-performing ...
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PropertyEU Archive
Union Investment buys Zurich asset for EUR 104m
Hamburg-based investment management company Union Investment has acquired the West-Park office building in Zurich for EUR 104 mln. The property, which is earmarked for the group's open-ended real estate fund Unimmo: Global fund, provides a total of 27,000 m[sup]2[/sup] of space. The property, sold by West-Park Zurich, was developed in ...
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PropertyEU Archive
GPT sells 32 European assets for EUR 129m
The GPT Group has agreed to sell its interest in the H20 logistics portfolio to Rynda Capital Partners Europe, an independent real estate investment management business, for the value of the debt secured against the portfolio (AUD$231 mln or EUR129 mln).
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PropertyEU Archive
Aberdeen wins EUR 1.4bn asset management mandate
Aberdeen Property Investors has signed an agreement with Gamla SEB Trygg Liv, part of Swedish SEB bank, regarding the property asset management of their property portfolio in Sweden. Aberdeen won the mandate in a competitive tender.
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PropertyEU Archive
Henderson appoints new manager for UK Property Fund
Henderson Global Investors has appointed Cameron Fraser as fund manager of its £150 mln (EUR 170.8 mln) Henderson UK Property Fund. Cameron will report to Andrew Creighton and, over the next two months to ensure an orderly handover, will work closely with Ludo MacKenzie, the fund's current manager who is ...
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PropertyEU Archive
CA Immo to sell assets after posting loss in Q1
Vienna-based property company CA Immo saw its losses widen to EUR 35 mln in the first quarter of 2009, from EUR 30 mln a year before, as a result of worsening conditions in the CEE and SEE markets. The company's portfolio lost EUR 52 mln in the first quarter of ...
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PropertyEU Archive
Epra to move to Brussels
The European Public Real Estate Association (EPRA), the industry body representing the listed property industry in Europe, is to move its office to Brussels from Amsterdam in early July.
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PropertyEU Archive
Land Securities sells London office for £39m
UK REIT Land Securities has completed the sale of 22 Kingsway, London to an overseas client of Jones Lang LaSalle for approximately £39 mln (EUR 45 mln). The transaction volume reflects a yield of approximately 7.55%.
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PropertyEU Archive
Rewe to expand in Russia
German supermarket group Rewe plans to add 20 stores to its Russian network this year after reporting a 35% growth in sales last year. The company, which currently employs a staff of about 2,800 across 58 Russian stores said that, despite the challenges due to the current economic situation, its ...
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News
BP pension fund shops for real estate
UK - The £20.3bn (€23.1bn) pension fund for BP has bought an out-of-town retail park in the UK and an office building in London, and plans to invest a further £100-150m in its domestic real estate market before the end of the year.
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News
Progress unwinds domestic property
NETHERLANDS - Progress, the Dutch pension fund of food giant Unilever, has begun to divest its directly-held domestic real estate portfolio through a sale of 30 residential assets in the city of Nijmegen to a private investor.
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News
UK property sees resurgence of interest
UK – Henderson Global Investors is the latest in a succession of managers to launch or close funds in the last two weeks targeting UK real estate.
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News
SanFran CC to spend in real estate
UNITED STATES - San Francisco City and County Employees’ Retirement System is planning to invest capital in public REITs and the non-core sector of its real estate portfolio over the next year.
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News
Speed of property decline accelerated - RICS
GLOBAL – The pace of decline in global property capital values accelerated in the first quarter of 2009, particularly in Europe where price falls hit both western and emerging economies, according to the Royal Institute of Chartered Surveyors (RICS).
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News
Mercer expands global real estate operations
UNITED STATES - Mercer Investment Consulting is expanding its real estate consulting operation to pension fund clients around the world.
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PropertyEU Archive
Pinnacle leases 1,500 m[sup]2[/sup] in PointPark
Arcapita's logistics property arm Pinnacle has announced the leasing of 1,500 m[sup]2[/sup] of logistics space in its PointPark Mszczonow centre to Jeronimo Martins Distribution. JMD is the owner of Poland's largest retail store chain and is part of the Portuguese Jeronimo Martins Group.
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PropertyEU Archive
Colonial's operating results up 12% in Q1
Spanish property company Colonial said its operating profit increased by 12% to EUR 65.5 mln in the first quarter of 2009 compared with the year-earlier period partly due to the sale of a number of assets and land. The company posted a net profit of EUR 1.4 mln in the ...
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PropertyEU Archive
Cap&Reg's X-Leisure fund to raise £50m in discounted offer
Capital & Regional, the co-investing property asset manager, has announced that its 19.4%-controlled X-Leisure Unit Trust is planning to raise around £50 mln (EUR 57 mln) through a heavily discounted offer to existing unit holders. The new units are being offered at a price of 10p, representing a discount of ...
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PropertyEU Archive
SFL sells Paris office building to RREEF
French SIIC Societe Fonciere Lyonnaise (SFL) has sold an office building located on Paris' famous Boulevard Haussmann to a fund managed by RREEF Spezial Invest, part of RREEF Alternative Investments, for a price of EUR 27 mln excluding taxes. The scheme, located in the 8th district of the French capital, ...
