Latest reports – Page 3350
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PropertyEU Archive
Baugur files for bankruptcy after losing court battle
Baugur Group, the Icelandic investor which bought retailers in a 10-year acquisition spree before collapsing earlier this year, has filed for bankruptcy after a judge denied the company more time to restructure.
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PropertyEU Archive
Industrial property in CEE outperforms global markets
Industrial commercial property markets in Central and Eastern Europe (CEE) and South America were the best performing globally in 2008, according to the latest edition of the Industrial Space Across the World report from real estate adviser Cushman & Wakefield.
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PropertyEU Archive
Citicourt assigns PropertyOne to manage 39,000 m2
Citicourt Investment Partners has assigned Frankfurt firm PropertyOne to manage a portfolio of 19 commercial assets in Germany. PropertyOne said the British company assigned the management of the assets on behalf of foreign property companies on 1 March 2009. The portfolio comprises 39,000 m[sup]2[/sup] of office, commercial and retail space.
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PropertyEU Archive
China wins Mipim's green building award
The Centre for Sustainable Energy Technologies in Ningbo, China is the winner of the 2009 Mipim green building award. Designed by Mario Cucinella Architects, the building was developed by Nottingham University UK and Nottingham University Ningbo.
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PropertyEU Archive
McCafferty wins contract to manage EUR 1bn fund
Manchester-based asset management company McCafferty has won a five-year contract to manage the Numisma Fund, a European real estate fund valued in excess of EUR 1 bn.
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PropertyEU Archive
Babcock & Brown appoints administrator
Struggling Australian investment giant Babcock & Brown has appointed administrators to its listed arm, Babcock & Brown Ltd. Babcock & Brown confirmed earlier this year that its shareholders are likely to be left with nothing as the company divests its assets - including real estate - over the next ...
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PropertyEU Archive
CEI advises French state on sale of Paris land
French property services firm CEI is advising the French government on the sale of a 22-hectare plot of land located near Paris' Roissy-Charles de Gaulle airport. According to Eric Fevre, partner at CEI, the bidding process for the site will take place at the end of March. Financial details were ...
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PropertyEU Archive
Green buildings becoming more affordable
Sustainability may be on the back burner due to the economic downturn, but savvy investors and landlords are still steaming ahead with the development of eco-friendly buildings, according to Eric Peeters, partner at Cushman & Wakefield and responsible for office and industrial occupier agency in Europe. 'In 15 years time, ...
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PropertyEU Archive
Russia continues to dominate investment in CEE
Russia continues to dominate the real estate universe in Eastern European as the country with the strongest economy and exposure to a large domestic market, according to Karine Hirn, co-founder of Eastern European fund manager East Capital.
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PropertyEU Archive
Poste Immo teams up with Icade in Arcadea property JV
France's Poste Immo and Icade are joining forces to create Arkadea, a new partnership aimed at optimising and boosting the value of Poste Immo's property portfolio. Poste Immo hopes the partnership will enable it to develop the potential of some of its residential and commercial assets, and in this way ...
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PropertyEU Archive
Greek government plans EUR 800m sale-and-leaseback
The Greek government plans to generate around EUR 800 mln from the sale and leaseback of 33 public properties over the next two years, following approval of the disposal programme by the parliamentary privatisation committee last week. The properties total 272,000 m[sup]2[/sup] and mainly house government ministries, tax departments and ...
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PropertyEU Archive
Investors shift focus from capital to rental values
With take-up around Europe expected to fall an average 15% this year and rents on the decline, investors are shifting their focus from capital to rental values, according to Etienne Prongue, director of international investment at Atisreal. 'Rents are set to decline in every market. Today most investors are looking ...
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PropertyEU Archive
Balkimo introduces first SEE distressed property fund
Balkimo Property Partners launched its first vulture fund targeting South Eastern Europe at Mipim this week in a move aimed at capitalising on distressed and foreclosed properties in the region.
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PropertyEU Archive
Hermitage signs financing for tower at La Defense
Hermitage, the French property arm of Russian group Stroimontage, reached an agreement on Wednesday with an undisclosed pool of banks for the financing of the Hermitage Plaza tower project located at La Défense business district in Paris. A Hermitage spokesperson would not reveal the amount of the financing, but the ...
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PropertyEU Archive
Italian defence ministry to close first property sales by end-2009
Italy's ministry of defence expects to carry out its first property disposals over the next six months as part of a major sell-off programme, spokesperson Riccardo Cristoni said at the Mipim fair in Cannes. The disposal programme, which involves around 50% of the ministry's total portfolio, consists of thousands of ...
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PropertyEU Archive
'G-REITs will dominate German investment market'
Real estate investment trusts (REITs) will become the dominant investment vehicle in Germany in the next few years, chief executive Olivier Elamine of Alstria Office REIT told PropertyEU at the Mipim trade fair in Cannes. Elamine forecast that three or four large G-REITs will emerge in the German market as ...
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PropertyEU Archive
Natixis raises EUR 420m for European fund
Natixis Capital Partners, a European real estate investment specialist, has launched its third private equity real estate fund, Captiva Capital Partners III, after raising EUR 420 mln in equity from European institutional investors. The fund had its final closing at the beginning of 2009.
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PropertyEU Archive
Starman sells Meridien Beach Plaza hotel to private individual
Starman Hotels has agreed to sell Le Meridien Beach Plaza, one of the most prestigious five-star hotels in Monte Carlo, to a private individual living in Monaco, for an undisclosed sum. Starman Hotels was advised on the deal by UK agent Christie + Co.
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PropertyEU Archive
Hotels worldwide expect 5-10% lower occupancy rates in 2009
Hotels worldwide expect occupancy levels and room rates to fall by between 5% and 10% this year compared with 2008, according to the Global Hotel Market Sentiment Survey published on Thursday by hotel consultancy Horwath HTL.
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PropertyEU Archive
DIC Asset predicts 2009 operating profit of EUR 34-36m
German property company DIC Asset said it expects operating profit in 2009 to amount to between EUR 34 mln and EUR 36 mln, assuming that market conditions do not deteriorate further. The Frankfurt-based company this week reported rental income of EUR 134.5 mln in 2008, up 44% on the year-earlier ...
