Latest reports – Page 3386
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PropertyEU Archive
Goodman and L&G raise £350m for ABPP
Legal & General Property and Goodman Group have raised £350 mln from existing investors for Arlington Business Park Partnership (ABPP), their UK specialised business park fund. The companies also said the raising will bring a significant relaxation of debt covenants within the fund's existing facilities.
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PropertyEU Archive
Premio Group secures EUR 35m Shariah financing deal
UK property company Premio Group Holdings has completed a £31.5 mln (EUR 35 mln) Shariah-compliant refinancing with the Bank of London and The Middle East (BLME). This was the first time Islamic transaction carried out by Premio.
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PropertyEU Archive
Orion edges closer to EUR 1bn equity target for European fund
European real estate investment firm Orion Capital Managers has said that the second closing of its latest European real estate fund has left it near the target of EUR 1 bn in equity commitments from major investors. Orion European Real Estate Fund III will remain open to new investors through ...
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PropertyEU Archive
Union Investment buys Vienna office building
Germany's Union Investment said on Thursday that it has bought the Solaris office building in Vienna for an undisclosed amount. Austrian property developer S + B Gruppe sold the building which provides 9,000 m[sup]2[/sup] of space and is located in the St. Marx district of Vienna. The property is earmarked ...
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PropertyEU Archive
Euragone transfers EUR 953m worth of properties to OPCI funds
Euragone, the French asset manager for Union Investment Real Estate, has transferred five real estate properties to newly established OPCI non-listed investment vehicles, for a total value of EUR 953 mln. The buildings were formerly owned by Union Investment Real Estate, French paper Business Immo reported on Friday.
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PropertyEU Archive
Lemminkainen sells EUR 200m worth of real estate in Finland
Helsinki-listed construction firm Lemminkainen has said that its subsidiaries sold 21 real estate properties worth about EUR 200 mln to Finnish real estate investors at the turn of the year.
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News
More than €50bn waiting to be deployed in Europe
EUROPE – More than €50bn of equity is targeting European commercial real estate this year, according to the latest European capital markets research carried out by Jones Lang LaSalle (JLL).
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News
Interest in US derivatives picks up
UNITED STATES – The use of property derivatives by institutional investors, including pension funds, has increased in the United States, following their losses resulting from the financial crisis, according to data analysts.
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News
PBGC moves into real estate with three ‘strategic partners’
US – The Pension Benefit Guaranty Corporation (PBGC) has selected BlackRock, Goldman Sachs and JP Morgan to mange $2.5bn (€1.9bn) in real estate and private equity assets.
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News
Land Securities sells Trillium
UK – Land Securities Group, the UK’s largest real estate investment trust (REIT), announced today it has agreed the sale of Trillium to Telereal, a property investment company, for £750m (€832m).
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News
Rene Tremblay joins Caisse de Depot
CANADA – Caisse de dépôt et placement du Québec, manager of public pension plans in Québec, has appointed Rene Tremblay as executive vice-president of real estate.
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News
Over-exposed Alaska Retirement issues redemption queues
UNITED STATES – Alaska Retirement Management Board (ARMB) is to issue $103m (€76.3m) of redemption queues on three open-ended commingled funds as its allocation to real estate exceeds its strategic target.
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News
Illinois State Universities to capitalise on 2009 opportunities
UNITED STATES – State Universities Retirement System of Illinois has entered into the opportunistic real estate space by making a $40m (€29.4m) commitment to the Dune Real Estate Fund II.
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News
Barclay made associate at Nordic Retail Fund
EUROPE – Protego Real Estate Investors has appointed Calum Barclay as an associate within its Nordic Retail Fund, it was announced this week.
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PropertyEU Archive
JLL appoints new head of CEE Capital Markets business
Global property advisor Jones Lang LaSalle has announced the appointment of Tomasz Trzoslo as the regional director of its Central & Eastern Europe (CEE) Capital Markets and Investment business encompassing four countries. Trzoslo, who assumes his new role in January 2009, was formerly the head of JLL's Poland Capital Markets ...
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PropertyEU Archive
London commercial property investment fell 65% in 2008 - C&W
Investment in commercial property in Central London fell 65% to only £6.8 bn in 2008, down from 2007's record figure of £19.4 bn, according to international property services firm Cushman & Wakefield.
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PropertyEU Archive
Pramerica buys London office property for £52m
UBS Global Asset Management, advised by King Sturge, has sold the 11 Pilgrim Street office building in the City of London to US investor Pramerica for £52 mln (EUR 58 mln). The transaction reflects a net initial yield of 7.5%.
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PropertyEU Archive
Zublin sells assets in Switzerland and Germany for EUR 37m
Listed Swiss firm Zublin Immobilien has concluded the sale of an office building in Switzerland and a retail property in Germany for a total of CHF 56.3 mln (about 37 mln). The sales prices of both transactions were in line with IFRS fair values at end- September 2008.
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PropertyEU Archive
Atrium names chief financial officer
Listed property group Atrium European Real Estate said on Wednesday that it has appointed Robert Bolier as chief financial officer (CFO). Bolier has over 20 years experience in financial management and strategy at a number of leading global corporations. He joins Atrium from Meretec where he was CFO since 2007.
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PropertyEU Archive
Sainsbury's sells two stores for £86m
UK retailer Sainsbury's said in an interim statement on Thursday that it has sold the freehold of two stores in the UK for a total of £86 mln (EUR 95 mln). The transactions reflect a yield of 5.5%. The retail giant said that the sales are in line with its ...
