Latest reports – Page 3333
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PropertyEU Archive
AXA fund enters Sweden with EUR 40m retail buy
AXA Investment Managers Deutschland’s Immosolutions fund has made its first investment in the Nordics with the acquisition of a retail property in Sweden for EUR 40 mln. The fund has bought four fully-let units in the Bilen retail park in the southern city of Kalmar.
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PropertyEU Archive
Real estate stocks lead direct market by six months
Real estate stocks generally lead moves in the underlying direct property market by an average of six months, according to the latest research published by the European Public Real Estate Association (EPRA) in association with US investment firm Cohen & Steers.
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PropertyEU Archive
Valad signs pre-lease at new business park in Luxembourg
Australia's Valad Property Group and Antwerp-based Valeres Project Developments have announced that telecommunications multinational Mach has taken a lease of the first building at the new Campus Contern business park project in Luxembourg. The co-developers described the letting of 2,900 m[sup]2[/sup] as ' a coup' as the building is ...
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PropertyEU Archive
Pirelli RE unveils heavily discounted capital increase
Italy's Pirelli Real Estate will offer its shareholders the largest discount possible in the EUR 400 mln capital increase planned for June, an Italian newspaper has said, citing chairman Marco Tronchetti Provera. The company will issue up to 800 million shares 50 cents per share. Pirelli & Co, which controls ...
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PropertyEU Archive
Helaba provides EUR 90m funding to Boultbee in Sweden
German lender Helaba said on Monday that it has arranged funding of EUR 90 mln for UK-based group Boultbee for refinancing of its Punkt and Gallerien commercial properties in Västeras, as well as its St Per building in Uppsala. The properties are predominantly for retail use and provide total space ...
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PropertyEU Archive
Pirelli RE chief gets EUR 9.4m exit payout
Pirelli RE's outgoing Chief Executive Carlo A. Puri Negri was granted a record EUR 9.4 mln payout by the board last week and an additional EUR 3 mln as part of a 'non-competition agreement' and a 'non-solicitation agreement' regarding the group's employees over the next two years, the company said ...
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PropertyEU Archive
HSH Nordbank to press criminal charges against board member
HSH Nordbank will press criminal charges against Frank Roth, member of the Management Board, the German bank said on Friday. Roth is suspected of having provided third parties with strictly confidential information regarding the bank.
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PropertyEU Archive
Grosvenor unveils £594m pre-tax loss in 2008
Privately-owned Grosvenor Group has swung to a pre-tax loss of £594 mln (EUR 673 mln) in 2008 from a profit of £524 mln in 2007 mostly as a result of 'the impact on Grosvenor's portfolio of the decline in asset values in many of the markets in which it operates.' ...
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PropertyEU Archive
UK commercial property rental decline deepens, says IPD
Capital depreciation in UK commercial property ended the first quarter at a pace consistent with declines seen in the first two months of 2009, at -3.1% in March, according to the IPD UK Monthly Index. The compounded capital movement over the first quarter was thus -8.9%, according to the Index, ...
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PropertyEU Archive
Data centre market buoyant and greener in 2008 - CBRE
Total take-up in the European Data Centre market for 2008 was down 7% in 2008 at 147,380 m[sup]2[/sup] across the five tier 1 markets - London, Paris, Frankfurt, Amsterdam and Madrid, figures from CB Richard Ellis show. The fall follows a record level of take-up figure reported in 2007 and ...
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PropertyEU Archive
German government makes EUR 1.39 per share offer for Hypo
The German government has launched its bid to nationalise struggling property financer Hypo Real Estate by tabling an offer of EUR 1.39 per share. The offer is about a 10% premium on the statutory minimum offer price of EUR 1.26.
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PropertyEU Archive
CBRE closes sale of Pacifica International
CB Richard Ellis has completed the sale of the remaining units of logistics park Pacífica International, located within one of the last major industrial areas of Madrid, Spain. In 2003, CBRE was chosen as co-exclusive agent by Pacífica Capital Gestión to market over 400, 000 m[sup]2[/sup] of space at the ...
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PropertyEU Archive
IVG Funds acquires office project from Skanska
IVG Funds has acquired an ongoing office project in a suburb of Stockholm from Swedish construction and property giant Skanska for SEK 400 mln (about 36 mln).
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PropertyEU Archive
Angus Dodd joins Lone Star Europe
Angus Dodd has joined Lone Star Management Europe as managing director responsible for identifying UK real estate investments for Lone Star funds. He was previously at JER Partners for five years, where he was managing director responsible for acquisitions in the UK and Germany.
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PropertyEU Archive
Western Europe accounts for 95% of investment in Q1, says JLL
Direct investment in European commercial real estate reached EUR 12 bn in Europe in Q1 2009, down 30% on volumes in the previous quarter and 70% lower than Q1 2008, according to new research from Jones Lang LaSalle. Core Western European markets accounted for 95% of total investment volumes, whilst ...
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News
Pension funds advised to look to real estate
UK – UK pension funds seeking inflation-hedging investments should look to their domestic real estate market in the current economic uncertainty, according to Legal & General Property (LGP).
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News
AP3 completes venture into public real estate
SWEDEN – Tredje AP-fonden (AP3), the Third Swedish National Pension Fund, has completed the purchase of a 50% stake in Hemsö a subsidiary of the real estate firm Kungsleden AB.
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PropertyEU Archive
Robert Houston to step down as CEO of ING REIM
Robert Houston is stepping down as CEO of ING Real Estate Investment Management within a year of being appointed. ING RE announced in a short statement on Thursday that Houston, who became CEO of ING REIM in September 2008, is leaving on 1 August 2009.
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PropertyEU Archive
CEE property investment slows to EUR 220m in Q1 2009
About EUR 220 mln worth of real estate deals were recorded in Central and Eastern Europe (CEE) in the first three months of 2009 as investment slowed further, according to CB Richard Ellis. This volume represents approximately one-third of the volume transacted in Q4 2008, a slightly stronger slowdown than ...
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PropertyEU Archive
RICS publishes guidance for new building valuations
The Royal Institute of Chartered Surveyors (RICS) has published a new guidance note to draw together all aspects of the 'challenging process' of valuing new build properties. The guidance comes into effect on 1 May 2009.
