Latest reports – Page 3419
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PropertyEU Archive
Union investment acquires Frankfurt development for EUR 93m
Union Investment has acquired a commercial building development in the German financial centre of Frankfurt from urban developer Vivico Real Estate for EUR 93 mln. The project is to be contributed to Union Investment's UniImmo: Deutschland open-ended real estate fund.
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PropertyEU Archive
Real Estate Opportunities secures extra banking facilities
Real Estate Opportunities (REO), the listed investor and developer of property in the UK and Ireland, has secured two additions to its banking facilities totalling EUR 100 mln.
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PropertyEU Archive
Babcock & Brown founder steps down from board
Australian listed Babcock & Brown has announced that founder Jim Babcock resigned as executive director on 1 November. The asset manager said Brown had stepped down from the board for personal reasons and would continue to be a significant shareholder in the group.
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News
German rail IPO hits the buffers
GERMANY – The German government has halted plans to list parts of the federal railway company Deutsche Bahn (DB) on the stock exchange because of market turbulence.
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News
CPPIB invests fresh CA$1.4bn in real estate
CANADA – The Canada Pension Plan Investment Board has expanded its real estate portfolio with $1.4bn worth of new investments, bringing the fund’s total real estate commitments to $8.4bn.
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News
Irish property falls on hard times
IRELAND - Irish commercial property repricing has set in hard, as the total return on the SCS/IPD Irish quarterly index fell by 13.9% over three months to end of September, making it the lowest quarterly return in the index history.
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News
Demolition threats add fuel to UK empty properties row
UK – Findings from CBI/GVA Grimley’s latest Corporate Real Estate Survey have added further weight to the British Property Federation’s campaign to restore empty rate relief for unoccupied properties, as indications are a fifth of companies polled are planning to demolish buildings to avoid paying extra tax.
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News
Avon signs Partners to work on global property
UK - Partners Group, the Swiss-based global alternative asset manager with over CHF25bn (€16.8bn) in assets under management, has been chosen to manage Avon Pension Fund’s overseas real estate portfolio.
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News
Survey finds investors still want to tap real estate
UNITED STATES - Investors are ready to make the most of a predicted decline in value of commercial real estate, the results of Ernst & Young ‘s “Reality Check Survey” suggest.
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News
Netherlands tightens measures against property fraud
NETHERLANDS - The Dutch government is stepping up its efforts to prevent property fraud by tightening rules for notaries, surveyors and brokers.
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PropertyEU Archive
Ballymore opens 5-star hotel in Prague
Irish developer Ballymore has announced the opening of a new five-star hotel in central Prague. The Kempinski Hybernska hotel comprises 9,000 m[sup]2[/sup] and includes 75 luxury rooms and suites. The development involved the restoration of a 17th-century listed building.
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PropertyEU Archive
European real estate investment drops by 60% in Q3 - JLL
Direct commercial real estate transaction volumes across Europe in the third quarter of 2008 continued to trend downwards, according to Jones Lang LaSalle (JLL).
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PropertyEU Archive
Corio buys Ikea store next to Turin mall
Retail property specialist Corio is acquiring an Ikea store in Turin in order to redevelop it to add value to Corio's adjacent Le Gru shopping centre. Under the agreement with Ikea, the furniture retailer will lease the Ikea unit back until a new store in Collegno slated for May 2009 ...
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PropertyEU Archive
Immoeast investigates missing payment of EUR 520m
Austrian real estate group Immoeast is investigating a missing payment of EUR 520 mln to a third party, the company said in a statement last week. Immoeast recently provided the funds to Immofinanz Beteiligungs AG (IBAG) through the purchase of a bond.
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PropertyEU Archive
Top 5 deals, Week 44 (27-31 October 2008)
The largest deal recorded by PropertyEU between 27 and 31 October was KanAm's acquisition of a Paris office property from Gecina for EUR 133 mln.
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PropertyEU Archive
Retail rents highest in Moscow - JLL
Moscow boasts three of the top five most expensive prime retail locations in Europe in terms of rental costs, Jones Lang LaSalle has said in its first report on Prime High Street Rents in Europe. The top Moscow locations are Stoleshnikov Lane, Petrovka Street and Tverskaya.
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PropertyEU Archive
Eurocommercial opens extension at Carosello mall
Amsterdam-based investment firm Eurocommercial Properties (ECP) said on Friday that it has opened a 12,000 m[sup]2[/sup] extension and refurbishment of the Centro Carosello retail scheme situated on the outskirts of Milan. The extension opened this week on schedule, fully leased and on budget, the company said in a statement. The ...
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PropertyEU Archive
Prologis entends Quiksilver logistics park
Prologis, the international developer and owner of distribution facilities, said it has delivered two new logistics units with a total of 14,000 m[sup]2[/sup] within the Quiksilver de Rives logistics park near the French city of Grenoble.
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PropertyEU Archive
ING RE's 'Crane Track' wins ULI award
ING Real Estate announced on Friday that its Kraanspoor (Crane Track) project in Amsterdam, the Netherlands has won a Urban Land Institute (ULI) Global Award for Excellence during the organisation's autumn meeting in Miami. Earlier in the year the Crane Track project received the 2008 MIPIM Green Building of the ...
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PropertyEU Archive
German open-ended funds lock the gates
The German open-ended property fund industry is in virtual lockdown following a flurry of redemption halts imposed by fund managers last week to prevent investors withdrawing their money.
