Latest reports – Page 3334
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PropertyEU Archive
Atrium opens Russian shopping centre extension
Austria's Atrium European Real Estate has announced the opening of an extension to its Togliatti Park House shopping centre in Russia. The extension comprises a 12,100 m2, stand-alone retail unit which is fully let to Castorama on an initial 10-year lease with an option for a further five years.
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PropertyEU Archive
Retail property outperforms other sectors in Europe: CBRE
European investment activity in the retail sector held up better than activity in the investment market as a whole in the first quarter of 2009, according to a new research report issued by CB Richard Ellis on Thursday. Earlier this week, CB Richard Ellis revealed that overall investment turnover ...
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PropertyEU Archive
Immofinanz in EUR 1.5b bond swap to avoid insolvency
Cash-strapped real estate group Immofinanz plans to swap EUR 1.5 bn worth of convertible bonds into new convertibles at a lower face value to avoid insolvency. The group, which in February launched a restructuring of its business to boost its liquidity, is offering holders of five outstanding convertibles new bonds ...
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PropertyEU Archive
Kungsleden completes EUR 1.3b sale to Third AP Fund
Listed Swedish property company Kungsleden is completing its divestment of 50% of the shares of Hemsö to the Third AP (Pension Insurance) Fund. Hemsö owns and manages Kungsleden's Public Properties in Sweden, mainly retirement home, care and school properties. The transaction amount comes to SEK 14.6 bn (EUR 1.3 bn), ...
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PropertyEU Archive
IPD: Nordic property market in 2008 a story of two halves
Capital depreciation in Nordic real estate markets led to annual capital growth of -5.4% in 2008, according to the IPD Nordic Annual Property Index. Based on local currencies, the capital return over last year was the lowest annual figure in the index's nine-year history. In 2007, capital growth totalled 8.0%.
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PropertyEU Archive
La Lucette puts EUR 200m of assets on the market
Compagnie La Lucette is putting EUR 200 mln worth of properties on the market as part of its disposal plan for 2009. In a statement on Thursday, the French SIIC said that it will put up for sale its Colisee office building at La Defense in Paris, providing some 25,000 ...
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PropertyEU Archive
CBRE acts for vendor of Monza shopping centre
CB Richard Ellis said on Tuesday that it advised vendor ImmobiliarEuropea SpA on the sale of a 28,000 m[sup]2[/sup] new shopping centre, Auchan Monza, located in Monza, Italy. The Centre was sold to UniImmo, German Open Ended Fund managed by Union Investment Real Estate AG, for over EUR 142 mln.
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PropertyEU Archive
Sistema-Hals announces second bond issue
Russian property developer Sistema-Hals plans the launch of a second bond issue on April 21 to raise additional equity in order to restructure its debt. The company plans to issue RUB 2 bn in bonds with maturity in 2014. The Lead Manager of the bond issue is Renaissance Capital.
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PropertyEU Archive
FHH fund buys Frankfurt hotel for EUR 27m
Fondhaus Hamburg (FHH) has acquired a Park Inn hotel project in the Gateway Gardens district of Frankfurt for EUR 27.5 mln. The property was bought from developer Lang & Cie. Real Estate. The hotel is let under a 20-year management contract to international hotel operator Rezidor Group. It will provide ...
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PropertyEU Archive
Horizon signs tenant for Vitalys office building in Paris
Horizon Investment Management France has advised its fund, Horizon French Property Partnership, on the leasing of the Vitalys building located in the ZAC de la Porte de Lilas, in the 19th arrondissement of Paris.
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PropertyEU Archive
Private equity real estate fundraising down to 2004 level
Seven private equity real estate (PERE) funds focused on Europe raisied a total of $3 bn (EUR 2.3 bn) on their final closing in the first quarter of 2009. Consultancy Preqin said another 13 PERE funds closed in the US having raised $9.7 bn in the first three months of ...
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PropertyEU Archive
Investment in London commercial property falls 76% in Q1
The value of central London commercial real estate transactions in the first quarter of 2009 fell by 76% compared to Q1 2008 and by 83% compared to Q1 2007 when the market was at its peak, according to C&W's latest research report issued this week.
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PropertyEU Archive
'Panic phase' seems to be over in France, says IEIF
French commercial property values have seen a slight fall of 0.8% during the first quarter of 2009, according to the EDHEC IEIF Commercial Property France index which is based on the portfolio value of French unlisted real estate funds. The figure compares to a drop of 8.3% reported in the ...
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PropertyEU Archive
PEPR leases over 60,000 m[sup]2[/sup] in the Netherlands
Prologis European Properties announced on Wednesday that it has renewed a 19,435 m[sup]2[/sup] lease agreement at Schiphol, Amsterdam, with DHL Global Forwarding and completed four lease agreements in the Rotterdam area covering almost 42,000 m[sup]2[/sup]. As a result of these transactions, occupancy of the PEPR portfolio in the Netherlands has ...
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PropertyEU Archive
Blackstone raises EUR 3.1 bn for third European fund
New York-based private equity firm Blackstone has raised EUR 3.1 bn to date for its third European real estate investment vehicle and plans to close the vehicle in the spring, periodical PERE reported. The Blackstone Real Estate Partners Europe III fund saw EUR 3.1 bn in commitments from a total ...
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PropertyEU Archive
Fazer moves into Lindhagen office and shopping centre
Fazer has signed a leasing agreement for 3,000 m[sup]2[/sup] of office space in the new Lindhagen office and retail centre (Paradiset 29 property) in western Kungsholmen, Sweden. The agreement is for a seven-year period and Fazer will move in to its new premises in November 2009.
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PropertyEU Archive
European property investment down 44% in Q1
The European commercial real estate investment market continues to fall sharply, according to a new report by CB Richard Ellis. Turnover in the first three months of 2009 totalled just EUR 11.5 bn, compared to EUR 20.6 bn in the final quarter of 2008.
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PropertyEU Archive
Realia close to refinancing EUR 754m of debt
Spanish property company Realia said in a stock exchange announcement late on Tuesday that it expects to soon reach an agreement with its creditor banks for the refinancing of a EUR 754.5 mln pile of debt maturing at the end of 2009. In its 2008 results, the Madrid-based property developer ...
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PropertyEU Archive
Dolphin buys out Aristo for EUR 93m
AIM-listed South-Eastern European developer and investor Dolphin Capital Investors is acquiring the remaining 15% interest it did not own in Aristo Developers for a total of EUR 93 mln including a cash payment of EUR 50 mln. Aristo is the largest private land owner and the leading residential developer in ...
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PropertyEU Archive
Multi names Kokkeel as head of mall management in Europe
Multi Corporation has announced the appointment of Marcel Kokkeel as chairman of Multi Mall Management Europe. The retail property specialist said Kokkeel, 50, will remain a member of the executive committee responsible for Western Europe and will add his previous marketing experience at retail giant Ahold to the management of ...
