Latest reports – Page 3448
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News
US funds 'wait and see' over Lehman bankruptcy
UNITED STATES - Several pension funds in the United States have yet to make any decisions about the activity it will now take regarding previous commitments made to Lehman Brothers-sponsored commingled real estate funds, after the firm today announced it was filing for Chapter 11 bankruptcy.
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News
ABP extends hotel holdings in key European cities
EUROPE - Europe’s second-largest pension scheme ABP, the Netherland’s huge €215bn public service fund, has expanded its European real estate portfolio with the purchase of six hotels in Paris, Amsterdam and Düsseldorf.
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News
Jones Lang LaSalle reshuffles directors
UNITED STATES - US-based property investment and consultants group Jones Lang LaSalle is reshuffling its senior board in a bid to reinforce its global presence and strategy for expansion.
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News
Schroders expands Nordic team
SCANDINAVIA - Schroder Property, the real estate arm of London-based €164.4bn Schroders, has further strengthened its presence in Scandinavia with the appointment of Ubbe Strihagen as director of business development for the Nordic region.
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News
Propinvest seals largest ever European property deal
SPAIN - London-based real estate investment and management specialist Propinvest has acquired the global headquarters of Spanish banking giant Banco Santander, for €1.9bn – the largest ever European real estate deal.
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PropertyEU Archive
Host Hotels, GIC, ABP team up in EUR 565m hotel deal
Host Hotels & Resorts has announced that its European joint venture with Dutch pension fund ABP and an affiliate of Singapore's GIC Real Estate has acquired six hotels in France, Germany and the Netherlands for a total of EUR 565 mln. Host is the largest lodging real estate investment trust ...
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PropertyEU Archive
Grosvenor sells in retail space in France and Belgium
International property company Grosvenor has sold 10,500 m[sup]2[/sup] of retail space in Villeneuve d'Ascq, near Lille to fund manager Uffi Real Estate Investment Management. The tenants of the property include retailers Lapeyre, Aubert, and Maxi Toys.
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PropertyEU Archive
AXA sells in Barcelona for EUR 90m
French insurance group AXA has sold its headquarters at Avenida Diagonal in Barcelona to a local investment group for EUR 90 mln. Property services group Savills advised the vendor on what has been described as the largest transaction this year in the Catalan city.
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PropertyEU Archive
CBRE takes over Belgian retail advisor C&T
International real estate services firm CB Richard Ellis (CBRE) said on Friday that it has acquired the Belgian real estate consulting company C&T Retail for an undisclosed amount. The deal enables CBRE to establish an office in Antwerp, the property advisor added. Created eight years ago by Patrick Tacq and ...
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PropertyEU Archive
Hypo Real Estate unveils two US loan deals
Hypo Real Estate Capital Corporation (HRECC), the US subsidiary of Munich-based Hypo Real Estate, has revealed it has taken a $46 mln interest in a $121 mln mortgage loan for the refinancing of the InterContinental Chicago hotel. The loan was originated by Citibank and the transaction closed in early July.
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PropertyEU Archive
Hammerson in £230m City deal with Deka
UK property company Hammerson and its joint venture partner Pearl Assurance have exchanged contracts with German open-ended fund Deka Immobilien for the sale of the long leasehold interest in Moorhouse, 120 London Wall, in the City of London. Deka agreed to pay £230 mln (EUR 289 mln) for the ...
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PropertyEU Archive
Savills poaches investment director from C&W
International property consultant Savills said on Friday that it has appointed Eusebi Carles to join its Barcelona office as director of office investment and agency. Eusebi has 19 years experience in the property sector and most recently worked as an associate partner in the investment team at Cushman & Wakefield ...
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PropertyEU Archive
Summit Germany leases 9,000 m[sup]2[/sup] in Berlin
AIM-listed German commercial property investment company Summit Germany, has signed a lease agreement for approximately 9,000 m[sup]2[/sup] in its Osram Hofe property in Berlin. The new lease agreement with the Berlin State hospital is for an average term of 6.5 years and will generate a rental income of EUR 1.1 ...
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PropertyEU Archive
German open-ended funds increasingly eye Asia and Latin America
As the credit crunch continues to tighten its hold on European real estate markets, some European investors - including Germany's open-ended funds - are increasing their bets on Asia and Latin America. Germany's open-ended real estate funds have put the valuations scandals of 2005 behind them to re-emerge as major ...
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PropertyEU Archive
Propinvest closes EUR 1.9bn Banco Santander purchase
Spain's largest bank Banco Santander has completed the sale of its head office in Madrid to a consortium led by the UK property investor Propinvest. The bank, which acquired ABN Amro Bank last year together with Fortis and Bank of Scotland, said in a statement to the market authorities ...
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PropertyEU Archive
Fiege leases warehouse space in Czech Republic
Prologis announced on Wednesday that it has leased 8,000 m[sup]2[/sup] of warehouse space at Prologis Park Uzice to logistics company Fiege. The park is located along the D8 motorway, nine kilometres from the border city of Prague. Fiege also leases 5,000 m[sup]2[/sup] of warehouse space at Prologis Park Prague.
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PropertyEU Archive
Coperfil RE sells logistics asset to SEB
Spanish property firm Coperfil Real Estate has sold a warehouse property located within the Logispark Ciempozuelos, near Madrid, to the Swedish financial group SEB for close to EUR 30 mln. The 35,000 m[sup]2[/sup] asset is the third building acquired by SEB in recent months in the logistics park. Following the ...
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PropertyEU Archive
La Lucette signs EUR 11m of new leases
Compagnie La Lucette said on Thursday that it has signed several significant leases since the beginning of July for a total of over 30,000 m[sup]2[/sup] of office space. The new leases raise the occupancy rate in the French firm's portfolio to 98.5% and adds EUR 11 mln of annual rents.
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PropertyEU Archive
Immoeast sells two office assets in Warsaw
Austrian-based property investor Immoeast has sold its Mistral and Passat office buildings in Warsaw to the Vienna Insurance Group. The parties agreed not to reveal the transaction price. Immoeast had acquired Mistral in January 2006 and Passat in March 2007.
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PropertyEU Archive
Metrovacesa, Riofisa pull out of Madrid mall development
Metrovacesa and Colonial's shopping centre unit Riofisa have decided to pull out of a project to develop Madrid's largest shopping mall which the two Spanish companies were awarded in 2006. Construction of the Atlantys shopping mall in Valdebebas, northern Madrid, came to an halt this week when the two debt-laden ...
