Latest reports – Page 3399
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PropertyEU Archive
Citicourt embarks on major UK investment drive
London-based Citicourt Investment Partners has kicked off what it says is a major investment drive in the UK with the acquisition of a 90,000-m[sup]2[/sup] portfolio of retail and commercial properties for £70 mln (EUR 81 mln).
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PropertyEU Archive
New Star hands 75% stake to banks in debt for equity swap
A syndicate of banks is taking a majority stake in troubled UK fund manager New Star in a debt-for-equity swap. New Star said the restructuring will result in £240 mln (EUR 277 mln) of its £260 mln of gross debt being converted into equity.
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PropertyEU Archive
Banks take 65% of Metrovacesa
Metrovacesa's indebted majority shareholder, the Sanahuja family, said on Thursday it has reached a debt-for-equity agreement with creditor banks who will take a 65% stake in the company.
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PropertyEU Archive
Louvre Hotels, Warimpex to develop four hotels in Poland
France's Louvre Hotels and Warimpex of Austria have acquired three plots in major Polish cities to develop Campanile and Premiere Classe hotels, comprising a total of more than 500 rooms, under the auspices of their joint venture.
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News
OMERS makes strategic move to private equity
CANADA – The Ontario Municipal Employees Retirement System (OMERS) has launched a new investment entity which will invest in private companies focused on real estate development, airports and energy.
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News
Demand for logistics creates investment potential
EUROPE – Jones Lang LaSalle has identified Europe’s seaports as logistics hotspots for growth on the back of a significant increase in demand.
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News
CalSTRS awards capital to existing managers
UNITED STATES - California State Teachers Retirement System has bucked the trend and issued new capital to real estate managers, to could be used for potential investment in 2009.
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News
Diebold’s pension moves into real estate
UNITED STATES - Diebold Corporation’s $450m (€356.5m) defined benefit pension fund has made its first move into real estate investment and made a $10m commitment to JP Morgan’s open-ended Strategic property fund.
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News
Aberdeen sells Belgian real estate operation
BELGIUM - BNP Paribas Real Estate Property Management has announced it is acquiring Aberdeen Property Investors Belgium.
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News
ING REIM to cut UK jobs
UK - ING Real Estate Investment Management (ING REIM) has announced up to one-fifth of its staff in the United Kingdom face redundancy following a costs review by the firm.
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News
Prupim arrival to make derivatives push
GLOBAL – Will Robson, property research analyst at Prupim, has been promoted to property derivatives director to help drive its focus and tap market opportunities.
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News
Investors see shine fade on German property
GERMANY- German investor sentiment in real estate has plummeted and is paralysing the industry, consultancy firm King Sturge has claimed, as economic data continues to fall.
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PropertyEU Archive
Hansainvest boosts logistics exposure in face of downturn
German fund manager Hansainvest is increasing the share of logistics in the portfolio of its Hansaimmobilia open-ended property fund as a hedge against the potential effect of the global downturn on other real estate segments.
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PropertyEU Archive
Knight Frank leases 8,000 m[sup]2[/sup] in Madrid
International property services firm Knight Frank said it has advised the Spanish Ministry of Science and Innovation in the leasing of 8,000 m[sup]2[/sup] of office space in Madrid's Avenida de América. The broker said the deal is one of the largest office lease transactions in Madrid this year.
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PropertyEU Archive
Parcolog buys 36,000 m[sup]2[/sup] logistics project
Parcolog, the logistics property development arm of Generali Immobiliare, has acquired a 36,000 m[sup]2[/sup] logistics project near Avignon for an undisclosed amount. The property was acquired from ID Logistics, which was developing the scheme on behalf of multimedia and electronics manufacturer Boulanger. Boulanger already leases its logistics properties from Parcolog ...
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PropertyEU Archive
Supermarket sector proves resilient amid market crisis, says Savills
Growing competition amongst UK supermarkets looking to expand their market share is set to create opportunities for investors and developers, according to Savills' latest food sector report. The report states that the top four grocery retailers in the country have continued to complete sale-and-leaseback deals and Sainsbury's has also entered ...
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PropertyEU Archive
UK house builder sells £109 mln of commercial property assets
UK house builder Barratt Development is to realise net proceeds of £109 mln (EUR 127.4 mln) on the sales of a shopping centre and commercial land in the UK. The assets are part of the portfolio of developer Wilson Bowden which Barratt acquired in April 2007. Barratt has indicated it ...
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PropertyEU Archive
Czech industrial market reached its peak in 2007, says C&W
A period of over 10 years of industrial property market growth will end in the Czech Republic this year, according to a research report released by property services firm Cushman & Wakefield. Approximately 640,000 m[sup]2[/sup] of industrial space are expected to be completed this year in the country, a 30% ...
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PropertyEU Archive
IVG announces pre-let for 9,300-m[sup]2[/sup] office in Hamburg
German-listed real estate company IVG Immobilien has announced that its investment and development units are working together to develop a 9,300-m[sup]2[/sup] office building in Hamburg. The entire property is pre-let to Hermes Logistik.
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PropertyEU Archive
Stam Europe appoints portfolio and asset managers
Real estate investment manager Stam Europe has announced that Olivier Barbion has been appointed portfolio manager of the valued-added Stam REI III Fund. The fund, which was launched earlier this year, has an investment capacity of EUR 700 mln. It focuses on corporate real estate across France.
