Latest reports – Page 3466
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PropertyEU Archive
Valad acquires 50% in Luxembourg office development
Sydney-based Valad Property Group has announced the acquisition of a 50% stake in an office development in Luxembourg in a joint venture with Belgian developer Valeres. valad - which acquired UK based groups Scarborough and Teesland in 2007 to expand its European operations - said that Contern Business Park is ...
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PropertyEU Archive
Klepierre, ABP buy top Scandinavian mall owner
Listed French real estate group Klepierre and Dutch pension fund ABP have jointly acquired Steen & Strom, the largest shopping centre owner in the Scandinavia region, for a total investment volume of EUR 2.7bn - the biggest European property investment deal so far this year.
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PropertyEU Archive
Evans Randall moves into debt financing with ex-Capmark team
Private UK banking group Evans Randall has poached an entire debt lending team from real estate lender Capmark Finance Group to establish a EUR 625mln mezzanine and preferred equity fund targeted at leveraged property deals in the current turbulent market. The fund, known as Evans Randall Capital Partners, will operate ...
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News
Pension fund capital goes green
UNITED STATES – Pension funds in the United States are looking to make their real estate portfolios ‘greener’ so ING Clarion Partners has rolled out a sustainable growth initiative and its first investor is Los Angeles Fire and Police Pensions.
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News
Alaska Permanent Fund makes major commitment to infrastructure
UNITED STATES - The Alaska Permanent Fund Corporation has approved new commitments for infrastructure totaling $750m (€476.2m).
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News
Los Angeles City places capital into debt fund
UNITED STATES - Los Angeles City Employees Retirement System has made a $20m (€12.7m) to the Mesa West Real Estate Income Fund II, in a bid to capitalise on the supply and demand financing opportunities in the mid-size segment of the marketplace.
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News
Pennsylvania State moves capital into distressed fund
UNITED STATES - Pennsylvania State Employees Retirement System has approved a $15m (€9.5m) into Arden Real Estate Fund I - a distressed real estate fund.
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News
ING Clarion closes in on value-added space
UNITED STATES - ING Clarion Partners continues with its value-added strategy for some of its capital sources with the closing of $166m (€105.4m) worth of transactions.
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News
LPFA commits to ING’s global real estate FoF
UK - The London Pension Fund Authority has committed £150m (€190m) of capital to a new global property fund of funds (FoF) launched this week by ING Real Estate Select.
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News
ABP joint venture spends €2.7bn in shopping spree
NETHERLANDS – The €205bn Dutch pension fund ABP today revealed it now owns Scandinavia’s largest shopping centre owner and developer, Steen & Strøm, after buying the firm in a joint venture for NOK21.9bn (€2.7bn).
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News
Québec enters scramble for Russia
CANADA/RUSSIA - Ivanhoe Cambridge, the €8bn shopping centre subsidiary of the CA$155.4bn (€98.3bn) Caisse de dépôt et placement du Québec, has acquired a Moscow shopping centre for an undisclosed figure.
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News
Consortium completes German HighStreet purchase
GERMANY – A consortium comprising of RREEF Alternative Investments, the Borletti Group, the Generali Group, and Pirelli RE today announced it has completed the acquisition of a 49% stake in “Highstreet”, the investment company owning the majority of Karstadt’s German department store premises.
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News
Opt for Reading over Riyadh - fund manager
MIDDLE EAST – Pension fund real estate investors should steer clear of the Middle East property, use debt if you can get it, and wait for a property market turnaround in the UK, according to asset managers.
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News
F&C merges to expand
GLOBAL - Investors in fund manager F&C have backed a deal with property firm REIT that will give the UK-focused fund manager exposure to continental Europe and the nascent Indian market.
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News
Market expansion ends at Leipzig
GERMANY - The outward spread of Germany’s property market will halt at Leipzig, the outpost of international investibility, according to Sascha Hettrich, managing partner of King Sturge’s German office.
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PropertyEU Archive
Grosvenor and Santander trade first Spanish property derivative
Privately owned UK property group Grosvenor and Spanish lender Santander said they have carried out the first property derivative transaction in Spain. The total return swap has a maturity of two years and was based on Investment Property Databank's (IPD) main Spanish property index. Other details of the transaction, including ...
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PropertyEU Archive
Prologis leases 23,000 m[sup]2[/sup] to Schenker in France
Third-party logistics services group Schenker has agreed to lease 23,000 m[sup]2[/sup] at Prologis Park Mer in France. The park is located along the A10 motorway, the main artery between Paris and Bordeaux. Schenker is to operate the space on behalf of Mitsubishi Electric to distribute heating and air conditioning systems ...
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PropertyEU Archive
Hypo provides EUR 138m to refinance German portfolio
Hypo Real Estate Bank said it has provided EUR 138mln financing to GREP, a Luxembourg-based real estate investment vehicle. The facility is being used by GREP to refinance a commercial real estate portfolio comprising 91 retail and office properties located in German city centres, with a focus on North Rhine ...
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PropertyEU Archive
Big deals are still a go - if the price is right
When Germany's largest state, North Rhine-Westphalia, sold its residential property company Landesentwicklungsgesellschaft NRW (LEG) to Goldman Sachs' Whitehall Funds in June for about EUR 3.4bn, it sent a signal to the market that big deals can still be pushed through in the current climate - if the price is right.
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PropertyEU Archive
Raiffeisen Bank to move to Orco's Arena in Hungary
Raiffeisen Bank, a unit of Austria's RZB banking group, has agreed to lease over 8,000 m[sup]2[/sup] of space in the Arena Corner scheme in Budapest as part of the bank's expansion in Hungary. The deal increases the occupancy rate of the A-class office scheme, owned by the Endurance Fund and ...
