Latest reports – Page 3362
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PropertyEU Archive
Keen starts construction of Galeria Victoria
Keen Property Partners Retail has started construction of the Galeria Victoria entertainment and retail centre in the Polish city of Walbrzych. The grand opening of the shopping centre is planned for spring 2010.
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PropertyEU Archive
ECE's Otto takes major stake in US shopping centre REIT
Alexander Otto, CEO of German inner-city shopping centre developer ECE, has expanded his activities in the US by taking a major stake in American group Developers Diversified Realty (DDR).
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PropertyEU Archive
Property investment down 57% in Germany in 2008
Investment in the residential and commercial property markets in Germany plunged 57% last year, according to the property adviser network Deutsche Immobilien-Partner (DIP). Investment in asset and share deals came to EUR 50.1 bn last year compared to EUR 116.4 bn in 2007.
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PropertyEU Archive
Deka buys Frankfurt hotel
Deka Immobilien has acquired a four-star business hotel in Frankfurt for its open-ended fund WestInvest TargetSelect. The seller is a joint venture of German property developer Fom Estate GmbH and Quinlan Private. The hotel was recently developed by Fom Estate and is a part of a larger complex which includes ...
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PropertyEU Archive
Industrial market in CEE grew by 30% in 2008
The total Central European industrial stock reached 10.5 million m[sup]2[/sup] last year, as supply grew by 2.5 million m2, or 31%, between January and December 2008, Cushman & Wakefield has said in a new report.
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PropertyEU Archive
LaSalle sells Munich property to AEW Europe
LaSalle Investment Management, on behalf of its German Income and Growth Fund, has sold an office building in Munich for an undisclosed amount to the Euroffice fund managed by French investment and management group AEW Europe.
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PropertyEU Archive
Metrovacesa's banks take control after EUR 738m loss
Six banks have taken control of Metrovacesa, Spain's largest property company, through a debt-for-equity swap with its majority shareholder. The Sanahuja family, which held 81% of Metrovacesa, has handed over a 65% stake in the troubled company to creditor banks BBVA, Banesto, Popular, Sabadell, Santander and Caja Madrid for a ...
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PropertyEU Archive
Fonciere des 6eme et 7eme buys Paris hotel
French SIIC Fonciere des 6eme et 7eme arrondissements de Paris has acquired the Hotel de Fleury in the seventh arrondissement of Paris. The transaction price is believed to be around EUR 61 mln.
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PropertyEU Archive
Risanamento brokers sale of Milano Santa Giulia project
Italian property developer Risanamento said on Monday that it has signed a preliminary agreement to sell its flagship Milano Santa Giulia project in Milan to Bi Pi Elle Real Estate for an undisclosed amount. As part of the agreement, the company said it has received an initial payment of around ...
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PropertyEU Archive
'Pockets of new leasing activity expected this year,' says CBRE
Occupiers are experiencing increased lease flexibility, greater choice of premises and greater incentives in the European office market, according to the latest research by CB Richard Ellis.
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PropertyEU Archive
Deka buys from Immoeast in Prague
Deka Immobilien has acquired the Jungmannova Plaza office complex in central Prague for a total of EUR 40.6 mln. The seller was CEE investor and developer Immoeast. The property was acquired on behalf of an open-ended fund managed by Deka Immobilien Investment.
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PropertyEU Archive
Conwert unveils cost reduction programme, axes 50 jobs
Conwert Immobilien Invest said on Monday it is making 50 staff redundant as part of a programme to optimise costs and increase efficiency. The company is seeking to reduce general administration expenses by around 10-15% this year and to reduce total costs to 11-12% of revenues in 2009, from 14% ...
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PropertyEU Archive
C&W launches 'distressed situations' JV
Cushman & Wakefield (C&W) has formed an exclusive joint venture with Investment Capital which will specialise in giving financial and real estate advise to distressed businesses. The new partnership will be headed by Jon Digby-Rogers, a property banker and loan work-out specialist who has occupied senior property finance positions at ...
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PropertyEU Archive
CBRE expands retail capability in Russia
CB Richard Ellis has announced the signing of an affiliate agreement with Magazin Magazinov, one of Russia's premier retail property services companies. The agreement extends CBRE's capacity in the European retail sector and follows the recent acquisition of retail specialists in Italy (Espansione Commerciale) and Belgium (C&T Retail).
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PropertyEU Archive
FCC, Caja Madrid line up new investor for Realia
The majority shareholders in Spanish listed property group Realia have announced plans to take on a new shareholder to acquire a 'significant and stable' stake in Realia as part of a programme to strengthen the company.
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PropertyEU Archive
HSH teams up with Aragon in new closed-end fund JV
German financial services group Aragon and HSH Real Estate are forming a 'strategic partnership' which will focus on closed-end fund sales. Under the agreement, HSH Real Estate has acquired 25.1% of Aragon's subsidiary, BIT Beteiligungs- & Investitions-Treuhand, for an undisclosed amount. The transfer is subject to approval from the competition ...
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News
Canadian real estate hits 14-year low
CANADA – Canadian real estate returns fell 12.1% in 2008 to a 14-year low, according to figures released by Investment Property Databank (IPD).
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News
CalPERS signs real estate exec
US – The California Public Employees’ Retirement System (CalPERS) has appointed James Lasher as senior portfolio manager of its real estate housing portfolio.
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News
Union to tap German GEOFs repricing
GERMANY – Union Investment Real Estate AG has welcomed proposals for regulation changes regarding German open-ended funds (GEOFs) and aims to take advantage of repricing to invest in traditionally core markets.
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News
Axa keeps on growing real estate
SCANDINAVIA – AXA Real Estate Investment Management (AXA REIM) has increased its retail investments and expanded its team in the Nordic and Baltic regions.
