Latest reports – Page 3390
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News
Ohio Police and Fire quenches real estate blaze
UNITED STATES - Ohio Police and Fire Pension Fund has found it can only allocate $50m (€36.1bn) to real estate investing for the entire of 2009.
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News
CalSTRS joint venture gains new financing
US – First Industrial, the North American Real Estate Investment Trust (REIT), has arranged a new $110m (€78.6m) debt facility for its ventures with the California State Teachers’ Retirement System (CalSTRS).
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News
ProLogis steps up to support European Properties
US – ProLogis, the international logistics developer, has stepped in to help ProLogis European Properties (PEPR) by buying a 20% interest in the ProLogis European Properties Fund II (PEPF II).
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News
DTZ goes for share-raising or bust
GLOBAL – DTZ is planning to raise up to £55m (€59.2m) of equity through new shares in a bid to help the company survive the economic downturn and avoid going into administration.
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News
British Land fills top role
UK- British Land, the second-largest Real Estate Investment Trust in the UK, has appointed Chris Grigg, former Barclays chief executive, as its CEO.
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News
Pension funds could snap up UK airports
UK – Pension funds could be in the running to buy Gatwick, Stansted and Edinburgh airports as the Competition Commission has announced the British Airport Authority (BAA) must sell to generate greater competition and improve its service standards across UK airports.
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PropertyEU Archive
Office rents in Kiev likely to drop, says CBRE
The office market in the Ukrainian capital of Kiev will witness a recession in 2009, which, in turn, could lead to a decline in rental rates, according to a report from CB Richard Ellis. 'The world financial crisis has already affected Western European property markets and its echoes are ...
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PropertyEU Archive
Kungsleden agrees property swap in Sweden
Listed Swedish property company Kungsleden has said it is divesting one industrial property and two site leaseholds in Sweden for SEK 204 mln (EUR 18.4 mln) to fellow listed Swedish property company AB Sagax. At the same time Kungsleden is acquiring three warehouse and office properties from Sagax for SEK ...
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PropertyEU Archive
Icade appoints new head of residential business
French property firm Icade said on Tuesday it has named Antoine Fayet as new head of its residential and public services property business in France. Marie Brouder, who was previously in charge of the public services assets, has resigned, Icade added.
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PropertyEU Archive
IVG to invest EUR 35m in second Warsaw office project
IVG Development is to invest EUR 35 mln in the development of the Vector office complex in the Wola district of Warsaw. The development arm of German listed property investor IVG said construction will begin in the second quarter of 2009, with completion scheduled for the fourth quarter of 2010. ...
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PropertyEU Archive
Corpus Sireo fund buys 4 health care facilities in Bavaria
Corpus Sireo's health care fund Sireo Immobilienfonds No. 5 SICAV-FIS has acquired four facilities from Domus Mea, the Bavarian assisted living care provider, in a sale-and-lease back transaction. The financial details were not disclosed. The properties provide 432 beds and are located in the southeastern part of the German state, ...
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PropertyEU Archive
IGD buys retail gallery in Cesena for EUR 18m
Italy's IGD SIIQ said on Friday that it has acquired a commercial gallery in Cesena, Northern Italy, from retailer Coop Adriatica SCARL. The transaction price amounts to a total of EUR 18 mln, including equity of EUR 6 mln and debt of EUR 12 mln. The acquisition is part of ...
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PropertyEU Archive
Union Investment buys Marsans HQ in Madrid
Spain's Marsans Group has sold its Madrid headquarters to German open-ended property fund Union Investment, PropertyEU has learnt. The financial details of this deal were not disclosed, but based on similar transactions in the area, it is believed the investment amount is in the vicinity of EUR 100 - 130 ...
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PropertyEU Archive
Savills closes Budapest office
UK property advisor Savills confirmed on Friday it has closed its office in Hungary as the impact of the credit crisis deepens in the country. Savills opened an office in Budapest in 2006 and hired Peter Chatfield to lead the new business. Chatfield would not comment on the news on ...
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PropertyEU Archive
TK Development maintains profit guidance for 2008-9
TK Development has said it is maintaining its profit guidance of about DKK 200 mln (EUR 26.8 mln) after tax for the book year 2008-9. The Copenhagen-listed developer had originally forecast an after-tax profit of SEK 300 mln, but in its interim report published last September the company blamed the ...
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PropertyEU Archive
Gecina suspends Metrovacesa separation plan
French property company Gecina said on Friday it is suspending a plan agreed last year to separate from its major shareholder Metrovacesa. The French SIIC said the decision was promted by significant changes in the shareholding structure of the Spanish group, which owns a 27% stake in Gecina. Debt-laden Metrovacesa ...
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PropertyEU Archive
Mipim Horizons attracts 1,200 visitors
The first edition of Mipim Horizons, which was held in Cannes in early December, attracted 1,200 participants, a spokesperson said. This is significantly less than the 3,000 participants the organisers had originally targeted. 'But that was before the financial crisis got worse,' the spokesperson said. 'We are happy with this ...
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PropertyEU Archive
Colonia JV sells Cologne property for EUR 40 mln
Listed German real estate firm Colonia has said that one of its subsidiaries has sold its trophy office property 'Disch-Haus' in Cologne for over EUR 40 mln. The transaction with the unidentified buyer was achieved by the sale of the special purpose vehicle which owned the asset. The SVP was ...
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PropertyEU Archive
Fabian approves Black Sea takeover offer
Rompetrol Holding's AIM-listed unit Black Sea Global Properties (BSGP) has reached an agreement with Fabian Romania to launch a takeover offer for the Romanian property investor for EUR 1 per share. The offer represents a premium of 93% over the closing price of Fabian Romania shares of EUR 0.51 on ...
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PropertyEU Archive
Derwent Holdings spends EUR 44.5m in Warrington
Derwent Holdings, the property company owned by Welsh multi-millionaire Albert Gubay, has acquired the 13,000-m[sup]2[/sup] Alban retail park in Warrington in the UK from Blackrock for £40 mln (EUR 44.5 mln). Property Week said the yield was about 6.5%. Yarnold & Partners advised Blackrock, while Taylor & Company acted for ...
