Latest reports – Page 3402
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PropertyEU Archive
Union Investment acquires a 13 storey tower in central Tokyo
Hamburg-based Union Investment Real Estate has purchased the Duplex Office Tower in Tokyo's famous Shibuya ward. The new property with a gross floor area of over 9,000 m[sup]2[/sup] was the first transaction on behalf of Union Investment's open-ended real estate fund UniImmo: Europa in Tokyo for some EUR 130 mln. ...
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PropertyEU Archive
Degi suspends Mall of Sofia deal pending economic review
German fund manger Degi has postponed the acquisition of the Mall of Sofia shopping centre from GE Real Estate and Quinlan Private, saying it wants to reassess the situation in light of the rapidly worsening economic situation worldwide. The potential transaction volume for the deal agreed provisionally in October was ...
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PropertyEU Archive
Cushman & Wakefield gets new managing partner in Netherlands
Jan-Willem Bastijn will succeed Baldwin Poolman on 1 January 2009 as Managing Partner of Cushman & Wakefield´s operations in the Netherlands, the Amsterdam-based company announced on Friday.
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PropertyEU Archive
ECE, Lamda open second shopping centre in Athens
A joint venture of developers ECE and Lamda Development said on Friday its Golden Hall shopping centre has opened its doors in the Maroussi municipality of Northern Athens. The mall offers over 130 shops, restaurants on a leasing area of around 41,000 m[sup]2[/sup] and an underground parking area for 1,400 ...
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PropertyEU Archive
Axa REIM buys 140,000 m[sup]2[/sup] logistics portfolio from Unibail-Rodamco
French investment fund manager Axa Real Estate Investment Managers (Axa REIM) has bought a portfolio of six logistics facilities in Madrid and Barcelona from Unibail-Rodamco for an undisclosed amount. The properties are earmarked for an investment fund managed by Axa.
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PropertyEU Archive
F&C fund to buy Dawnay Day for £600m
F&C Reit Asset Management is poised to buy the £600 mln (EUR 725 mln) Dawnay Day property empire out of administration, according to a report in the Financial Times. The deal will mark the first deal for F&C’s recently formed property business F&C Reit Asset Management.
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PropertyEU Archive
Metrovacesa to sell HSBC HQ back to bank for £838m
Metrovacesa, Spain's largest property group, is seeking to sell the HSBC headquarters in London's Canary Wharf back to the bank for £838 mln (EUR 1.1 bn), just over one year after buying the asset in a sale-and-leaseback transaction for £1.1 bn (now EUR 1.3 bn).
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PropertyEU Archive
JLL sees a ray of light in medical travel sector
The multi-billion dollar medical travel sector could become an important new source of demand when traditional demand drivers are under increasing threat, according to JLL Hotels' most recent research report. The property services firm belives that the medical travel sector has potential to develop into a lucrative niche market for ...
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PropertyEU Archive
Orco sees losses widen in Q3
Orco Property Group has cut its full-year revenue outlook as the global financial crisis continues to hit Central Europe's housing markets. The Luxembourg-registered developer saw revenue rise 5.7% to EUR 225.6 miln in the first nine months this year from the year-earlier period but booked a net loss of EUR ...
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PropertyEU Archive
Reita: UK bank funding seen falling further
No less than 62% of UK property experts believe that the availability of funding from banks and their willingness to refinance property loan books has deteriorated in the last few weeks, according to a quarterly update from Reita, the education and awareness campaign for property investment and REITs.
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PropertyEU Archive
Helaba provides EUR 68m financing for Europolis in Prague
German regional bank Helaba has structured and concluded a EUR 68 mln financing of the Kavci Hory office park in Prague for an affiliate of asset manager Europolis. Helaba is acting as sole arranger and lender through its Real Estate Finance Northern and Central Europe unit, it said on Friday.
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PropertyEU Archive
Junction fund sells UK retail park for EUR 38m
UK property co-investing asset manager Capital & Regional has announced that the Junction Fund has agreed to sell the St Georges Retail Park in Leicester for £32 mln (EUR 38 mln) to help reduce the fund's debt.
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PropertyEU Archive
German open-ended sector sees EUR 5 bn outflows in October - BVI
Investors withdrew almost EUR 5.1 bn from Germany's open-ended property funds in October, according to figures released on Wednesday by investment and asset management body BVI. This resulted in net inflows into the funds of only EUR 500 mln over the first 10 months of 2008.
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PropertyEU Archive
Raven Russia confirms key appointments
Raven Russia, the AIM-listed investor in Russian warehouses, has confirmed the appointment of Glyn Hirsch, as executive director and CEO, and Anton Bilton as executive deputy chairman.
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PropertyEU Archive
Bouwfonds acquires multi-storey car park in Germany
A fund established by Bouwfonds Asset Management has acquired the largest multi-storey car park in the Germany city of Passau. The acquisition of the 950-place Zentralgarage brings the total value of the assets held by Bouwfonds European Real Estate Parking Fund to EUR 155 mln.
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PropertyEU Archive
Hochtief signs tenants for Capital Square in Hungary
Hochtief Projektentwicklung's Hungarian unit has secured two more tenants for its Capital Square development in Budapest. Hungarian electricity provider Budapesti Elektromos Müvek Nyrt has signed up for almost 4,000 m[sup]2[/sup]. Another 1,500 m[sup]2[/sup] has been leased for the office services centre to be opened by FirstClients, a newly founded company ...
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PropertyEU Archive
Unibail-Rodamco buys back 91,600 shares
Franco-Dutch real estate giant Unibail-Rodamco acquired 91,688 of its own shares in a buyback programme last week. The shares were bought in two tranches on 20 and 21 November at a weighted average price of EUR 98.59 for a total consideration of just over EUR 9 mln.
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PropertyEU Archive
Quintain's gearing spikes as valuations plunge
London-listed real estate company Quintain has seen its gearing ratio spiral from 60% to 90% in the six months to end-September due to a steep fall in valuations of its property portfolio. However, the company said it would continue to operate within its banking covenants.
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PropertyEU Archive
WestImmo appoints head for new research unit
WestImmo, the property arm of German regional bank WestLB, has named Dutchman Piet Kok (47) to lead its new business unit for real estate valuation and research.
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PropertyEU Archive
Police raid Immofinanz, Immoeast as fraud probe deepens
Austrian police raided the premises of Austrian real estate groups Immofinanz and Immoeast on Tuesday as part of the ongoing investigation into suspicions of fraud and breach of trust at the companies.
