Latest reports – Page 3446
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News
Los Angeles City nears commitment to debt fund
UNITED STATES - Los Angeles City Employees’ Retirement System is getting close to making a $25m (€17.6m) commitment to the ING Clarion Debt Opportunity Fund III.
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PropertyEU Archive
Altarea opens new shopping centre in Paris station
French property company Altarea said on Wednesday that it has opened its new Les Boutiques Gare de l'Est shopping centre in Paris. 'The 5,400 m[sup]2[/sup] shopping mall brings the final touch to the refurbishment of La Gare de l'Est (Eastern Railway Station in Paris),' Altarea said in a statement. The ...
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PropertyEU Archive
Affine purchases retail project in Nevers
French property group Affine has acquired a mixed-use development in the city of Nevers, near Paris from Eiffage Immobilier for an undisclosed amount. The Espace Colbert scheme will consist of two retail galleries with 4,800 m[sup]2[/sup] of space, office accommodation and parking spaces just outside Paris. Located on the site ...
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PropertyEU Archive
Hilton makes Russian debut
International hotel chain Hilton (HHC) has announced the launch of the Hilton Moscow Leningradskaya - its first property in Russia. The property will be the first of three Hilton hotels expected to open in the country this year.
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PropertyEU Archive
BAA to sell Gatwick Airport
UK airports operator BAA announced plans on Wednesday to sell Gatwick Airport, the second largest airport in the UK. Colin Matthews, BAA's chief executive, said that the company has decided 'to begin the process of selling Gatwick airport immediately.'
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PropertyEU Archive
ICSC launches Serbian National Committee
The International Council of Shopping Centers (ICSC) has announced the establishment of a European National Committee in Serbia to support the growing retail development opportunities in the country.
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PropertyEU Archive
Great Portland sells property to Commerz Real for EUR 100m
London-based property investor and developer Great Portland Estates (GPE) said on Wednesday that The Great Wigmore Partnership, its 50:50 joint venture with Scottish Widows, has sold 180 Great Portland Street, W1 to German investor Commerz Real for £79.5 mln (EUR 100 mln), around 4% below the June 2008 valuation. Commerz ...
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PropertyEU Archive
Canary Wharf hit by Lehman bankruptcy
Canary Wharf Group, the company that runs the major financial estate in London is facing significant fall-out from the bankruptcy of US investment bank Lehman Brothers. Songbird Estates, the majority owner of Canary Wharf Group, confirmed on Wednesday that Lehman leases over one million square feet (95,000 m2) on a ...
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PropertyEU Archive
Morgan Stanley weighing whether to remain independent - report
US investment bank Morgan Stanley is mulling whether it should remain independent or merge with a commercial bank given the volatility in its share price and the collapse of Lehman Brothers, CNBC has reported, 'citing people close to the matter'. Morgan Stanley is not in merger talks yet, according to ...
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PropertyEU Archive
Sonae Sierra presents three new developments in Portugal
Sonae Sierra presented three new projects on Wednesday that the international shopping centre specialist will develop in the Portuguese cities of Leiria, Maia and Caldas da Rainha. The three projects - Maia Jardim, Centro Bordalo and LeiriaShopping - are expected to create about 3,000 new jobs and will represent a ...
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PropertyEU Archive
AMB buys at Amsterdam's Schiphol Airport
AMB Property Corporation, the global developer and owner of industrial real estate, announced it is to acquire 10 hectares of land for a second phase of development at AMB Fokker Logistics Park, next to Amsterdam Airport Schiphol. At full build out, the land would support up to 76,300 m[sup]2[/sup] of ...
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PropertyEU Archive
Barclays to buy Lehman Brothers' HQ in New York
British bank Barclays announced on Wednesday that it has agreed to acquire Lehman Brothers North American investment banking and capital markets operations. The deal, subject to US court approval, will include trading assets worth £40bn and trading liabilities valued at £38bn, the bank said in a statement. Barclays said that ...
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PropertyEU Archive
Dev Secs extends loan deadline for 3rd time
Development Securities, the UK development and investment company, announced on Tuesday that it has agreed to extend the due date on the £52 mln (EUR 65) of loan notes outstanding from the sale of Oriental City in London to 28 November 2008. 'It is probable that, as part of these ...
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PropertyEU Archive
Russia's RTMC says portfolio grew 24% in H1 2008
OJSC RTM, a Moscow-based real estate developer focused on retal properties, has said that the market value of its portfolio came to $983.4 mln at end-June 2008 7, 24% higher than the previous appraisal at the end of December last year.
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PropertyEU Archive
King Sturge seals two student housing deals worth EUR 240m
As the new academic year begins across Europe, property adviser King Sturge has said it was involved in two student housing deals with a combined value total of EUR 240 mln. In the first transaction, King Sturge acted for fund manager Liberty Living in the EUR 190 mln acquisition of ...
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PropertyEU Archive
SEB fund acquires Cadbury logistics asset for EUR 36m
SEB Asset Management said on Tuesday it is continuing its investment activities in the UK with the acquisition of the Cadbury Schweppes logistics building in Milton Keynes for £28.5mln (EUR 36 mln) . The property is earmarked for its open-ended real estate fund SEB ImmoPortfolio Target Return. The logistics property ...
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PropertyEU Archive
Nanette says 'no effect' from Lehman bankruptcy
London-listed residential property company Nanette issued a statement on Tuesday to 'correct any misconceptions' about the filing for Chapter 11 bankruptcy by Lehman Brothers. Nanette, registered in the Netherlands and active as a developer in Central and Eastern Europe, said it works in partnership with Lehman Brothers Real Estate Partners. ...
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PropertyEU Archive
BNP Paribas to launch new SCPI fund
French real estate asset manager BNP Paribas REIM said on Tuesday that it has received approval from the French securities market regulator AMF for the launch of a new SCPI vehicle which will invest in corporate and office real estate in the country. Primopierre, which will be marketed from next ...
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PropertyEU Archive
APF
An article in PropertyEU's newsletter on 16 September should have referred to Dutch fund manager APF International putting its eighth real estate fund APF VIII - rather than eight funds - on the market.
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PropertyEU Archive
ULI launches public-private partnership network
The Urban Land Institute (ULI) has launched a new initiative with both private and public sector bodies to expand the rate of investment in European cities through public-private partnerships. Announcing the formation of the Urban Investment Network (UIN), ULI, a non-profit education and research organisation dealing with land use, said ...
