Latest reports – Page 3338
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PropertyEU Archive
IGD signs new JV with Domo for Romanian malls
Igd Siiq, Italy's only real estate investment trust, has signed a partnership with Romanian electronic retailer Domo under which Domo will take space in nine of the 15 Winmarkt commercial centres that Igd purchased in Romania in April 2008. Domo will open a 1,000 m[sup]2[/sup] store in the Bistrita shopping ...
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PropertyEU Archive
The Junction Fund talks with potential investors
Capital & Regional, the co-investing property asset manager, has confirmed that The Junction Fund is in discussions with potential equity investors as part of its plans to strengthen its financial position. The Financial Times said the potential investor is US-based Area Property Partners.
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PropertyEU Archive
French annual property returns slip into negative territory, says IPD
Investment in French real estate markets delivered a negative return in 2008, at -0.9%, for the first time in the 11-year history of the IPD French Property Annual Index. After three successive years in which total returns were above 15%, French markets finally succumbed to property markets' re-pricing cycle which ...
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News
Swiss pension funds buy Schroders lease
SWITZERLAND/UK – AFIAA, the Swiss real estate investment adviser for state pension funds, has purchased the long leasehold on Schroders’ London headquarters for £70m (€76.5m).
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News
Pension funds pursue Gatwick purchase
UK – Major Canadian and British funds are understood to be one step closer in their rivalry to purchase London’s Gatwick airport after the Competition Commission ordered the British Airports Authority (BAA) to sell three of its airports within the next two years.
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News
Abbey buys its London HQ
UK – British Land has sold Abbey’s London headquarters to the banking giant for £115m (€126.4m).
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News
IPD claims German buoyancy may attract investors
GERMANY – The IPD Germany Annual Property Index showed Germany’s property returns proved more resilient during the downturn than most European real estate markets – a situation which the body argues is likely to draw more institutional investors into the market.
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News
SWFs still stand strong in real estate market
GLOBAL – Sovereign wealth funds’ (SWFs) collective assets have continued to grow to a staggering $3.22trn (€2.4trn) despite the economic downturn and are still major investors in real estate, according to the 2009 Preqin sovereign wealth fund review.
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News
Norway-Global faces delay on real estate move
NORWAY – The Government Pension Fund – Global has warned market conditions and the need for new rules means it is unlikely to reach its 5% allocation to real estate for "several years".
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PropertyEU Archive
AXA IM leases Tripolis office building in Amsterdam
Fortis Investments Management has reached an agreement with AXA REIM for the leasing of the Tripolis office building in Amsterdam. The lease on the property comprising 5,745 m[sup]2[/sup] of office space and 295 of archive space in the city's Zuidas area runs from 1 November 2009. Fortis was advised by ...
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PropertyEU Archive
Caltagirone tipped to bid for MPS assets
Italy's Caltagirone Group is said to be the frontrunner in a bid to acquire the real estate assets that Monte Paschi di Siena bank put on the market last year, news agency Radiocor reported. The properties, worth a total of EUR 2.2 bn, are being sold in a sale and ...
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PropertyEU Archive
Swiss pension fund buys Schroders lease in London
Swiss pension fund AFIAA has entered the UK with the acquisition of the long leasehold of an office building in the City of London for a price said to be around £70 mln (EUR 77 mln).
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PropertyEU Archive
KanAm acquires Zurich hotel for EUR 22 mln
German investor KanAm has acquired the newly built Holiday Inn hotel in Zurich for EUR 22 mln. The hotel, which opened its doors in mid March, was acquired on behalf of KanAm Spezial grundinvest Fonds. The deal represents the first hotel acquisition for the German open-ended fund. The property was ...
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PropertyEU Archive
ING RE appoints new portfolio manager
ING Real Estate Select, the global multi manager business of ING Real Estate, has announced that Ivo de Wit will be joining the Global Portfolio Management Team at the beginning of April. De Wit was previously a Global Portfolio Manager within the Global Executive Team at ING Real Estate.
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PropertyEU Archive
German market 'has the best prospects for fast recovery'
Property professionals in Europe believe the bottom of the cycle has yet to come, according to a survey conducted by Messe München, the organiser of the Expo Real international proeprty fair in Munich.
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PropertyEU Archive
Canary Wharf offers to buy back bonds at heavy discount - report
Canary Wharf Group has offered to buy back £185 mln of its securitised debt from bond holders at discounts of up to 85% of face value to take advantage of the prices being offered on illiquid corporate debt, the Financial Times reported on Monday. Canary Wharf Finance II, the securitisation ...
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PropertyEU Archive
CAAM RE leases 50,000 m[sup]2[/sup] logistics facility in Chatres
CAAM Real Estate, through its SCPI Edissimo, has delivered a new logistics facility of 49,000 m[sup]2[/sup] in the Val Bréon logistics park in the Ile de France region. The scheme in Châtres was developed for logistics firm Kuehne + Nagel and represents the largest logistics leasing in Ile-de-France since January ...
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PropertyEU Archive
Commerz Real shops in France
German investor Commerz Real has acquired an office building in Paris for its CGS Immo-Spezial institutional fund for EUR 14.5 mln. Built in 1876 and refurbished in 2003, the property is located on Avenue Kleber in the prestigious 16th arrondissement and was sold by European Property, a fund managed by ...
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PropertyEU Archive
Italian property market feels delayed credit crunch effects
Italian commercial property capital growth finally fell into negative territory, by -2.5%, in the six months to the end of December 2008, according to the IPD Italian Biannual Property Index. The IPD said that after posting flat growth for the first half of last year, the delayed effects of ...
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PropertyEU Archive
Sonae Sierra appoints new managers to Italian unit
Portuguese shopping centre developer Sonae Sierra has appointed two managing directors at its Italian business. The company said that it has named Giancarlo Bianchi as new Managing Director of Sierra Developments Italy, replacing Pietro Malaspina who is taking up a new position. Giancarlo Bianchi (51) joined Sonae Sierra in 2007. ...
