Latest reports – Page 3453
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PropertyEU Archive
Dic Asset sells for EUR 27m
Frankfurt-based company Dic Asset has sold six commercial properties for a total volume of approximately EUR 27mln. The properties have total floor space of 17,000 m[sup]2[/sup] and are situated in prime locations in Hamburg, Berlin, Frankfurt, Mannheim and Bensheim. The buyers included both private and institutional investors. DIC Asset was ...
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PropertyEU Archive
Orpea to sell EUR 200m assets to OPCI fund
French nursing home Group Orpea plans to create an OPCI investment vehicle to which it will transfer part of its EUR 1.4bn real estate portfolio. The company, which announced earlier this year it would outsource half of its assets to strengthen its nursing home business, expects the launch of the ...
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PropertyEU Archive
Atrium appoints Hakert as COO
Atrium European Real Estate, the Vienna-listed shopping centre property company formerly known as Meinl European Land, has announced the appointment of Nils-Christian Hakert as Chief Operating Officer.
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PropertyEU Archive
'Germany favoured over medium term,' says Invista
Germany, together with other less risky property markets, is best positioned to deliver attractive risk-adjusted performance over the medium term as investors re-assess their attitudes towards property pricing and risk, according to the latest research published by Invista REIM. The report, which provides a reassessment of risk-adjusted performance prospects over ...
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PropertyEU Archive
Degi International makes first investment in Japan
Degi, part of Aberdeen Property Investors, has completed its first investment in Japan by signing the sales contract for the fully let retail property La Porte Shinsaibashi in Osaka. The building, purchased indirectly through a real estate company for EUR 90 mln, is earmarked for the Degi International open-ended property ...
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PropertyEU Archive
Babcock & Brown appoints new CFO
Babcock & Brown, the international investment and specialised fund and asset management firm, has announced that it has appointed John Fanning as Chief Financial Officer, effective immediately. Fanning replaces Michael Larkin who was appointed CEO and managing director on 21 August 2008.
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PropertyEU Archive
Sweden spurs GPR 250 Europe into positive territory
Sweden led the rally as European real estate shares finished up + 2.5% in the August edition of the GPR 250 Europe Index after several months in negative territory. On a country level, Sweden was the clear 'out-performer', GPR said, as the Scandinavian country ended the month with a ...
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PropertyEU Archive
HSH Nordbank provides £325m financing to Big Yellow
German bank HSH Nordbank said on Tuesday that it has arranged and underwritten a £325mln, five-year facility for Big Yellow, the leading provider of self storage facilities in the UK. The loan will replace a similar facility provided by a syndicate of banks led by the Royal Bank of Scotland. ...
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PropertyEU Archive
Sacyr mulls EUR 1bn sale of Valoriza to cut debt
Spanish construction group Sacyr plans to sell its environmental services division to cut its debt which currently stands at EUR 18 bn. Spanish newspaper Expansion reported on Tuesday that the company could raise EUR 1 bn from the disposal. Italian bank Mediobanca is advising the company on the sale process, ...
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PropertyEU Archive
IVG to sell EUR 1.7bn caverns to its own fund
Germany's IVG Immobilien said on Tuesday it is to sell 70 caverns to a fund it manages for unnamed institutional investors. In a statement, the German company said that its IVG Caverns Fund will acquire 40 operational caverns as well as 30 additional caverns which are currently under construction and ...
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PropertyEU Archive
New site for investors in Real Estate funds
A new website has been launched to give investors access to information on the both non-listed and listed real estate funds in Europe. Jurg La Fors, the founder of the internet platform - www.compire.info - says the concept is so simple he is surprised it didn't already exist. 'In ...
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PropertyEU Archive
C&A takes 44,100 m[sup]2[/sup] at new Prologis facility near Paris
Prologis announced on Tuesday that it is to build a 44,100-m[sup]2[/sup] industrial warehouse near Paris for the French subsidiary of international clothing retailer C&A.
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PropertyEU Archive
Sponda sells hotel for EUR 42m
Finnish real estate investment company Sponda said it has completed the sale of Kluuvikatu 8 to a real estate fund managed by Exilion Capital Oy for approximately EUR 42 mln. Kluuvikatu 8 is a real estate company which owns a 10,000 m[sup]2[/sup] property in Helsinki. The asset is rented under ...
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PropertyEU Archive
Nestle instructs King Sturge on Dutch disposal
Nestle Nederland has instructed property adviser King Sturge to dispose of the land and buildings of its distribution centre at Alphen a/d Rijn following the change of logistics provider. The commission is to dispose of the 14,000-m[sup]2[/sup] industrial building before the end of 2008 at the maximum value and for ...
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PropertyEU Archive
RVG spends EUR 125m on German homes
Dutch residential property group RVG Real Estate has acquired a portfolio of 2,100 homes in Germany for EUR 125 mln. The investor and developer said the deal underlined its ambition to expand the company's portfolio beyond the Netherlands.
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PropertyEU Archive
Europe edges up in EPRA/NAREIT index
The EPRA/NAREIT Europe Index edged upwards to +1.7% for August 2008. At a country level, the returns were very similar to the previous month. The EPRA/NAREIT UK index was up 5.7%, while the EPRA/NAREIT France dropped further by -0.3%. The EPRA/NAREIT Sweden rose +6.9% by the end of the month. ...
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PropertyEU Archive
Quantum acquires Munich office complex for EUR 130m
Hamburg-based Quantum Immobilien has acquired an historical building complex in Munich's city centre from real estate lender Hypo Real Estate Bank for EUR 130 mln. The five-building property is located on Ludwigstrasse and Von-der-Tann-Strasse in the Maxvorstadt district in the immediate proximity of the Siegestor, Odeonsplatz and the Englischer Garten. ...
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PropertyEU Archive
Colonial posts EUR 2.4 bn loss in H1 2008
Spanish real estate firm Colonial suffered a EUR 2.38 bn loss in the first half of 2008 because of falling asset values amid Spain's housing market crisis and increasing borrowing costs. In a statement, the company said that the asset writedowns were attributable to 'extraordinary impairment losses' for investments in ...
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PropertyEU Archive
Babis Vovos receives go-ahead for 32,000 m[sup]2[/sup] mall in Athens
Greek real estate company Babis Vovos (BVIC) said on Monday that it has been granted a permit to complete the construction of the Votanikos shopping mall in Athens. In a statement, BVIC said that the municipality of Athens has given the final approval to the 32,000-m[sup]2[/sup] property, which the firm ...
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PropertyEU Archive
Focus Nordic Cities picks up Riga office property
Focus Nordic Cities, a German open-ended real estate fund managed by Catella Real Estate, has acquired a 12,800 m[sup]2[/sup] office property located on one of the main streets in the Latvian capital Riga. The property on Duntes Street was developed and sold by Baltic developer E.L.L. Real Estate and is ...
