Latest reports – Page 3394
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PropertyEU Archive
LaSalle sees UK re-pricing as best bet since early 1990s
The re-pricing in the UK real estate market offers one of the best acquisition opportunities since the early 1990s, according to LaSalle Investment Management. In its Investment Strategy Annual report released on Monday, LaSalle said that the UK is leading the way in terms of re-pricing while for structural reasons ...
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PropertyEU Archive
Lloyd Fonds buys Fleesensee hotel project
Hamburg-based Lloyd Fonds AG has acquired the Fleesensee hotel project in Mecklenburg, northern Germany from developer GBI. The transaction volume amounts to EUR 18 mln. The four-star hotel is scheduled to open in July 2009. It will have 156 rooms and suites as well as a spa and fitness ...
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PropertyEU Archive
Spazio fund falls 50% short of disposal target for 2008
Spazio Investment, the Amsterdam-based industrial real estate firm managed by Italy's Pirelli RE, said that its Spazio Industriale fund is likely to miss its full-year disposal target. The company said in September it planned to dispose of up to EUR 140 mln of assets by the end of 2008, but ...
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PropertyEU Archive
King Sturge Spain to file for administration
The Spanish arm of UK property services firm King Sturge is to file for administration due to the crisis in the financial markets and the slowdown in the Spanish property sector, Spanish paper La Gaceta de los Negocios reported on Monday. The broker has a staff of around 100 ...
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PropertyEU Archive
AAIM CEO steps down as key fund collapses
The global financial crisis has claimed another real estate scalp following the resignation of James Elton as CEO of the celebrity UK property investor AAIM. Elton tendered his resignation shortly after one of AAIm's key funds was put into administration. The company has emphasised that the wider organisation is still ...
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PropertyEU Archive
Less speculative building may lead to office scarcity in CEE
Global property advisor DTZ has warned that the sharp decrease in speculative development in Central and Eastern Europe may lead to the lack of new modern office space. With bank financing becoming increasingly difficult to obtain, the amount of speculative development has plunged in recent months, raising concerns that demand ...
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PropertyEU Archive
KPP Retail buys land for retail schemes in Poland
Keen Property Partners Retail (KPP Retail), a newly created shopping centre investor and developer active in the Polish market, has secured several land plots for the construction of new retail centres in the country, says managing director Richard Keen. The acquisition follows hard on the heels of KPP Retail's purchase ...
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PropertyEU Archive
Hercules sells Borehamwood shopping park for EUR 85m
Hercules Unit Trust ('HUT'), the specialist retail warehouse fund advised by British Land and managed by Schroders, has completed the sale of its Borehamwood Shopping Park in Borehamwood, UK. The buyer was a fund advised by LaSalle Investment Management. The total investment volume came to £80.6 mln (EUR 85 mln).
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PropertyEU Archive
CNCE in talks with Nexity for Credit Foncier de France stake
French property group Nexity said on Monday it is in talks with banking giant Caisse Nationale des Caisses d'Epargne (CNCE) to sell its 23.4% stake in Credit Foncier de France. The company said the negotiations centre on a cash offer, and the transaction is expected to be completed in early ...
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PropertyEU Archive
IPD: UK property falls set to beat landmark 1990s crash
The negative returns for UK commercial property for 2008 look set to surpass the landmark losses recorded in 1990, on a real returns basis, IPD UK Index shows. All property total returns amounted to -18.2% over the 11 months to November 2008, compared to an inflation-adjusted return of -16.2% almost ...
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PropertyEU Archive
IVG confiorms Cornhill sale to SWF
The London branch of IVG Development, a subsidiary of IVG Immobilien, has confirmed it has sold its development at 14 Cornhill in London for EUR 140 mln to a sovereign wealth fund. As reported earlier in PropertyEU it is understood the buyer was Libya's sovereign fund but IVG did ...
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PropertyEU Archive
Cap & Reg sells Cardiff asset for EUR 18.7m
UK co-investing property asset manager Capital & Regional has announced that the Capital Retail Park Partnership has exchanged contracts for the sale of the Costco unit at the Capital Retail Park in Cardiff to a private investor for £16.95 mln (EUR 18.7 mln). The transaction volume represents a net initial ...
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News
Icade REIT considers residential sale
FRANCE - Icade, a subsidiary of Caisse des Dépôts and one of the largest Real Estate Investment Trusts (REIT) in France, is considering selling its entire housing unit.
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News
European property to bottom out in 2010
EUROPE - The continental European real estate market will reach its lowest level In 2010 but will then encourage fund managers to raise equity again to tap property bargain property, according to research by the Scottish Widows Investment Partnership (SWIP).
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News
MPL taps buy-to-let repossessions
UK – Managing Partners Limited's British Property Opportunities Fund is expecting to return over 10% in its first year by snapping up bargain repossessed UK properties from banks at 30%-discounted prices.
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News
Protego concludes merger into Threadneedle PUT
UK – Protego Real Estate Investors and Threadneedle Asset Management have completed the merger of their respective UK property funds, the Protego UK Property Fund and the Threadneedle Property Unit Trust.
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News
Venice mulls pension money for local infrastructure
ITALY – The local government of the Veneto region in the North-East of Italy is considering using the resources of its local pension funds to finance regional infrastructure projects.
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PropertyEU Archive
Warimpex sells Budapest redevelopment above fair value
Vienna-based developer Warimpex has sold the renovated Pauler office building in Budapest to an international private buyer. Company spokesman Christoph Salzer said the price for the relatively small asset was below EUR 10 mln. The exact investment volume for the 3,000-m[sup]2[/sup] asset was not disclosed but Warimpex said it was ...
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PropertyEU Archive
Finnish state transfers holdings in Sponda
The Finnish state has transferred its holding in listed real estate firm Sponda to state-owned vehicle Solidium. The operation involved the transfer of 38 million shares, roughly 34% of Sponda’s share capital. The Finnish state no longer holds any shares in Sponda.
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PropertyEU Archive
Top deals Week 50 (8-12 December 2008)
The largest deal recorded by PropertyEU between 8 - 12 December was the acquisition of the office scheme at 14 Cornhill in the City of London by Libya's sovereign wealth fund for EUR 134 mln. The vendor was German property company IVG.
