Latest reports – Page 3325
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PropertyEU Archive
Commerzbank required to sell Eurohypo by 2014
The European Commission has instructed Commerzbank, Germany's second-largest bank, to sell its property finance unit, Eurohypo, as a condition for EC approval of the EUR 10 bn in state aid it has received.
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PropertyEU Archive
Tishman Speyer leases all of Seine Etoile project to Capgemini
Tishman Speyer and Capgemini have signed a lease for the entire 14.750 m[sup]2[/sup] Seine Etoile project located in Suresnes, within the Western Business District of Paris. The lease represents one of the largest leases to be signed in Paris this year.
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PropertyEU Archive
JLL appointed to manage Lisbon's Torres Colombo
Jones Lang LaSalle's Management Department has been appointed to manage the Torre Oriente office scheme in Lisbon by a joint venture of Sonae Sierra, ING Real Estate, Iberdrola Inmobiliaria and savings bank Caixa Geral de Depósitos. Torre Oriene is the first building to be developed as part of the Torres ...
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PropertyEU Archive
Soffin acquires 47% of Hypo and eyes rest
The German government, through the bank rescue fund Soffin, holds 47.31% of the shares of Hypo Real Estate Holding following the expiration of the acceptance period for the EUR 1.39 per share offer tabled for the troubled property financier in mid-April.
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PropertyEU Archive
CBRE Investors leases 11,500 m[sup]2[/sup] of Copernic II
CBRE Investors said that it has leased 11,500 m[sup]2[/sup] in its Copernic II building in Noisy-le-Grand (Marne-la-Vallée), France, to Pole Emploi with a nine-year rental contract. Designed by architects Scau - Macary Delamin and developed by Les Nouveaux Constructeurs, Copernic II will comprise two independent buildings offering a total of ...
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PropertyEU Archive
KPP's Galeria Victoria finds new tenants
Keen Property Partners Retail (KPP Retail) has announced it has reached new leasing agreements at the Galeria Victoria entertainment and retail centre in Walbrzych, Poland with retailers Douglas, Camaïeu, Oxide&Snazee, Sunset Suits, Subway and Plus GSM. KPP Retail started the construction of Galeria Victoria in February 2009. The grand opening ...
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PropertyEU Archive
Sacyr to build new Repsol HQ in Madrid
Spanish construction giant Sacyr Vallehermoso will invest EUR 127 mln in the development of the new headquarters in Madrid of Spanish oil group Repsol. The new head office will consist of four office buildings connected to each other and will provide a total of 123,000 m[sup]2[/sup] of space. Sacyr, which ...
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PropertyEU Archive
IVG posts EUR 45m loss in Q1, yields at 'preliminary peak'
IVG Immobilien, the largest listed real estate group in Germany, struck an upbeat note on Thursday despite posting a EUR 44.8 mln after-tax loss for the first quarter of 2009. A year earlier, IVG recorded a profit of EUR 21.1 mln.
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PropertyEU Archive
Corpus Sireo fund buys two office buildings in Paris for EUR 40m
Corpus Sireo Investment Management, on behalf of its Sireo Immobilienfonds N.4 Sicav-Fis, has acquired two office properties in the eighth arrondissement of Paris for a combined EUR 40.35 mln. The buildings, totalling 4,500 m[sup]2[/sup] of space, are located at 37-39 rue d’Anjou in Paris and were sold by European Property ...
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PropertyEU Archive
ING RE books pre-tax loss of EUR 192m in 2008
ING Real Estate booked a pre-tax loss of EUR 192 mln in 2008 due to substantial writedowns of its direct real estate investments and holdings in listed and unlisted funds. In 2007, ING RE booked a pre-tax profit of EUR 723 mln.
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PropertyEU Archive
Slowing yield decompression may hint at improving sentiment, says JLL
The weighted average European prime office yield moved out 20 bps from 5.8% at the end of 2008 to 6.0%, a much smaller increase than the 50 basis point movement between Q3 and Q4 2008, according to JLL's Q1 2009 European Office Yields Report. The yield range across Europe continued ...
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PropertyEU Archive
Accounting change could double debt loads for corporates - JLL
Jones Lang LaSalle Corporate Finance has estimated that the debt loads of a quarter of FTSE all share companies will more than double if what it describes as 'dramatic' proposed changes in lease accounting are implemented.
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PropertyEU Archive
Total return for CEE drops to 0.5% in 2008
All Property total return for the IPD CEE index was 0.5% for the 12 months ended in December 2008, compared with 14.2% the previous year. The top sector was retail with a total return of 2.5%, the worst-performing sector was industrial with -4.4%, while offices generated a return of 1.5%.
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PropertyEU Archive
DTZ to sell Van Hoogevest investment portfolio
Dutch adviser DTZ Zadelhoff and Holland Realty Partners have been appointed to value and selll the investment portfolio of failed Dutch developer Van Hoogevest. The 15 investment assets are located throughout the Netherlands.
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PropertyEU Archive
Catalyst Capital sells for EUR 23m in Lyon
Phone Part Dieu, an investment vehicle managed by Catalyst Capital, has sold a 14,000 m[sup]2[/sup] complex in the Part-Dieu district of Lyon, France, to the Perial Group for over EUR 23 mln, French property magazine Business Immo has reported. The property is fully leased to France Télécom with a six-year ...
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PropertyEU Archive
Rivero to resign from CEO post at Gecina
Spanish businessman Joaquin Rivero is stepping down as CEO of French real estate investment trust Gecina but will remain on as chairman. Rivero's resignation from the day-to-day management comes after Gecina's board decided not to implement a plan to demerge from Spanish property company Metrovacesa.
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PropertyEU Archive
Chamartín, ING to open the largest shopping centre in the Iberian Peninsula
Spain's Imobiliaria Chamartin and ING Development announced on Wednesday that their flagship development, the Dolce Vita Tejo shopping centre is set to open its doors on Thursday in the outskirts of Lisbon. The mall, which has created over 15,000 jobs, is the largest shopping centre in the Iberian Peninsula, Chamartin ...
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PropertyEU Archive
UK commercial property capital value decline slows: IPD
UK commercial property capital values fell by a further 8.7% in the first quarter of 2009. However, the pace of decline has slowed noticeably since the record 14.3% fall recorded in Q4 2008, according to the IPD UK Quarterly Property Index published this week. Income return also edged up to ...
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PropertyEU Archive
Private equity firm to take advantage of cheap debt
Arminius, the private equity firm founded in 2006 by former Lone Star director Peter Jun, has bought EUR 148 mln of commercial real estate loans in Germany for its Real Estate Opportunity Fund I (AREOF I). The portfolio, which is secured by one industrial asset and a number of hotels, ...
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PropertyEU Archive
Multi and ING get EUR 72m financing for Dutch redevelopment project
Multi Vastgoed and ING Real Estate Development (RED) have ecured EUR 72 mln in funding from ING Real Estate Finance (REF) for the first phase of the redevelopment and expansion of the centre of Nieuwegein, a suburb of the Dutch city of Utrecht..
