Latest reports – Page 3395
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PropertyEU Archive
Fonciere Sepric launches IPO to adopt SIIC status
French property firm Fonciere Sepric said on Friday that it is launching an Initial Public Offering on Euronext Paris in order to achieve real estate investment trust or SIIC status in the first quarter of 2009. Founded in 1994, Fonciere Sepric invests in commercial property such as retail parks, and ...
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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.
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PropertyEU Archive
Invista's French JV unit struggles to refinance debt
Investment manager Invista said on Friday that its French joint venture company Celsius is unlikely to achieve a refinancing with troubled Icelandic bank Kaupthing regarding a EUR 142 mln senior debt facility maturing at the end of December 2008. Invista said that it and its joint venture partner are still ...
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PropertyEU Archive
Libyans return to London with EUR 134m acquisition
Libya has made its first investment in the London real estate market since the 1990s with the acquisition of an office property in the City of London district for £120 mln (EUR 134 mln). The 16,000-m[sup]2[/sup] asset at 14 Cornhill was sold by listed German property investor and developer IVG.
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PropertyEU Archive
Icade puts entire housing portfolio up for sale
French property company Icade said on Friday that its chairman and chief executive Serge Grzybowski is considering the disposal of the entire housing portfolio to one or more investors at survey value. 'After this operation, Icade would distribute 50% of the capital gains from the disposal, as is provided by ...
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PropertyEU Archive
Multi Corporation to launch major Turkish retail fund
Multi Corporation plans to launch a fund targeting regional retail developments in the Turkish market. The target size of the fund will be well in excess of EUR 1 bn, according to well-informed sources. It is believed the fund will be sourced by a group of leading international investors including ...
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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
Redevco sells office building in Lyon for EUR 43m
Retail property specialist Redevco has concluded the sale of the VIP office building in the French city of Lyon to Paris-based investor Fonciere Massena for a total of EUR 43 mln. Located in the Part Dieu district of Lyon the property was completed in 2001 and comprises 12,000 m[sup]2[/sup] of ...
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PropertyEU Archive
Lippo set to enter US, Europe with $500m of investment
Indonesian property group Lippo plans to invest about $500 mln (EUR 377 mln) in US and European cities to profit from falling property prices in these more mature markets. The Financial Times reported on Thursday that the company will be focusing on cities such as London, Chicago, and San Francisco. ...
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PropertyEU Archive
Madrid office market back to 2002 'dot-com crisis' levels, says Savills
The Madrid office market is back to 2002 trading levels, with a 50% decrease in leasing transactions over the summer months compared to 2007, and yields on the increase, according to international property services firm Savills.
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PropertyEU Archive
Rugby Estates switches focus to asset management
UK listed property firm Rugby Estates said on Thursday it is to cut jobs and focus on asset management at the expense of development and direct property ownership. The moves are elements of a strategic review carried out in response to the 'continuing deterioration of market conditions in the property ...
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PropertyEU Archive
Aldi plans to invest EUR 57m in Welsh expansion
Aldi, the German discount food retail chain, is planning to invest around £50 mln (EUR 57 mln) in new stores across North and Mid Wales over the next five years. Local press has reported the company plans to open two stores next year and is also looking at sites for ...
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PropertyEU Archive
Banco Popolare raises EUR 750m for Eracle fund
Banca Popolare's Eracle real estate fund has been fully subscribed by Italian and international institutional investors. The fund has raised around EUR 751 mln of equity. Intesa Sanpaolo and Morgan Stanley acted as placement agents. The fund will be managed by Generali Immobiliare Sgr, an Italian asset management firm specialised ...
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PropertyEU Archive
Big Yellow director resigns over share disclosure breaches
UK multi-millionaire David Ross has tendered his resignation from the board of Big Yellow Group, a UK real estate investment trust specialising in storage facilities. The company did not explain why Ross is stepping down, but it was later reported that he has also resigned from other directorship positions with ...
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PropertyEU Archive
Valad lets 7,200 m[sup]2[/sup] at Hartlebury Trading Estate
International fund and asset manager Valad Property Group has let 7,200 m[sup]2[/sup] at its Hartlebury Trading Estate near Kidderminster, Worcestershire to UK timber products manufacturer Forest Garden. The letting takes the total space leased by Valad at Hartlebury to just under 55,740 m[sup]2[/sup] since it purchased the estate in March ...
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PropertyEU Archive
Multi Vastgoed sells Stadsplein to Corio
Dutch property developer Multi Vastgoed has signed an agreement with Corio for the sale of the Stadsplein project in the centre of Spijkenisse in the southwest of Rotterdam. The total investment value of the project is around EUR 36 mln. The purchase was included as part of the fixed and ...
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PropertyEU Archive
Hotel investors keep hold of assets as financial crisis bites, says JLL
Hotel investor sentiment in Europe, Middle East and Africa (EMEA) has moved further in favour of 'hold' as the impact on the industry is felt through falling income, according to the latest Hotel Investor Sentiment Survey (HISS) research report by Jones Lang LaSalle Hotels.
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PropertyEU Archive
Delek RE eyes asset sale to repay debt
Tel Aviv-listed Delek Real Estate plans to sell EUR 245 mln worth of properties in the UK, Canada, Sweden and Israel to meet its debt redemption requirements in the next three years. The company expects that the quality of the tenants in the properties and the length of the rental ...
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News
Pension funds gain improved fee position
GLOBAL - The dynamic between managers and investors has shifted in favour of investors for the time being, according to Allen Smith, CEO of US-based investment manager Prudential Real Estate Investors (which operates under the name of Pramerica Real Estate investors outside the US).
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News
AP1 seeks real estate advice
SWEDEN - Första AP-Fonden (First Swedish National Pension Fund AP1) has announced it is looking to appoint investment managers as part of its new international real estate strategy.
