Latest reports – Page 3467
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PropertyEU Archive
Strabag dials into EUR 1bn facility management unit
Austrian construction company Strabag has agreed to buy Deutsche Telekom's facility management unit. Deutsche Telekom Immobilien und Service (DeTeImmobilien) employs more than 6,000 people - 5,600 in Germany - and it generated revenues of about EUR 1bn in the 2007 financial year. DeTeImmobilien main customer is Deutsche Telekom. Both sides ...
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PropertyEU Archive
F&C sells Colchester shopping centre for EUR 89m
London-listed F&C Commercial Property Trust has confirmed it has exchanged contracts to sell Lion Walk shopping centre in Colchester for about EUR 89mln. In a regulatory release, the company said the investment volume was gross of rental guarantees which are not expected to exceed EUR 1mln and the price compares ...
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PropertyEU Archive
Unibail-Rodamco buys Spanish malls for EUR 434m
Franco-Dutch property giant Unibail-Rodamco has acquired two Spanish shopping centres from Metrovacesa for EUR 434mln. The total net rental income from the two malls is expected to be EUR 26mln, the group said.
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PropertyEU Archive
Citigroup appoints three real estate advisers
Citigroup has cut back its long list of real estate advisers for its transaction management services across Europe, the Middle East and Africa (EMEA) to three - CB Richard Ellis, Cushman & Wakefield and Knight Frank. The joint mandate covers more than 1,640 offices, call centers and retail outlets in ...
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PropertyEU Archive
Benson Elliot, GEM Realty acquire hotel-backed debt
Private US real estate firms Benson Elliot Capital Management and GEM Realty Capital have joined forces to acquire an EUR 42.5mln performing mezzanine debt tranche priced at a discount to face value. The debt is secured by a portfolio of hotels and other assets located in Germany.
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PropertyEU Archive
Pirelli rings up EUR 530m in H1 sales
Pirelli Real Estate has said it carried out EUR 530mln worth of property sales in the first half of 2008. The group's share came to EUR 208mln, or 39%. The gross margin comes to EUR 109mln (21%), of which EUR 44mln pertains to Pirelli RE.
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PropertyEU Archive
Thales UK picks King Sturge
Thales UK has appointed King Sturge as its UK property adviser to help it get the full financial benefit from its real estate holdings. The aerospace and defence contractor has a portfolio of 120 sites in the UK totalling more than 280,000 m[sup]2[/sup]. Thales plans to undertake a full market ...
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PropertyEU Archive
Talisman/CPIM launch European property debt opportunity fund
UK asset managers Talisman Global Asset Management and Cambridge Place Investment Management have launched the co-managed Talisman/CPIM European Debt Opportunity Fund. With capital commitments of EUR 50mln and a targeted net return of between 12% and 15%, the fund will invest in a range of European commercial mortgage backed securities ...
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PropertyEU Archive
Deka carries out third Finnish investment of 2008
Deka, the largest provider of open-ended real estate funds in Germany, has kept up the hectic pace of its investment activity by agreeing its third transaction in Finland this year. The bank's Deka Immobilien property unit bought the seven-storey Kluuvikatu 3 (K3) office and commercial property in Helsinki from Cambridge ...
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PropertyEU Archive
RREEF gets EUR 47m refinancing for Portuguese resort
Hypo Real Estate Bank International announced on Tuesday that it had completed a EUR 47mln refinancing for RREEF Alternative Investments' Penha Longa Hotel, Spa and Golf Resort in Portugal. A fund managed by RREEF Alternative Investments acquired the resort in 2003. The subsequent enlargement and refurbishment programme has won several ...
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PropertyEU Archive
AXA REIM acquires Dutch office complex for EUR 81m
The German subsidiary of AXA Real Estate Investment Managers has acquired the newly developed Eusebiushof office building in the Dutch city of Arnhem from Eurocommerce for EUR 81mln. The 16-floor property was developed on the site of the former municipal waterworks company and provides 27,000 m[sup]2[/sup] of lettable area, as ...
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PropertyEU Archive
Ivanhoe Cambridge makes first mall acquisition in Moscow
Canadian-based shopping centre group Ivanhoe Cambridge has entered the Russian market with the acquisition of the upmarket Vremena Goda shopping centre in Moscow. The centre, opened last November, is located on Kutuzovskiy Prospekt boulevard and comprises 150 retail units over 30,000 m[sup]2[/sup] of lettable space. The list of prestigious international ...
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PropertyEU Archive
HSH, Mariner form jv to invest in German nursing homes
Germany's HSH Real Estate has set up a joint venture with listed Australian investment and property company Mariner Finance to acquire and manage portfolios in Germany's nursing homes sector. The partners said they will also seek to invest in other 'age care' assets.
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PropertyEU Archive
Invesco makes hotel acquisitions in Stockholm and Hamburg
Invesco Real Estate has bought hotels in Stockholm and Hamburg for a total investment of EUR 230mln. The sale-and-leaseback transaction of the Marriott Courtyard Hotel project in the Swedish capital from listed property group Faktor was Invesco's first hotel deal in Scandinavia. The purchase is expected to close in the ...
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News
Small pension funds re-enter property
UNITED STATES - Several smaller pension funds in the United States are thought to be looking to re-enter the real estate asset class, in a bid to diversify their portfolios.
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News
LA Fire and Police goes for safety with real estate assets
UNITED STATES - Los Angeles Fire and Police Pensions has chosen to make its real estate portfolio more conservative in the near term.UNITED STATES - Los Angeles Fire and Police Pensions has chosen to make its real estate portfolio more conservative in the near term.
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News
CalSTRS to tread cautious real estate path
UNITED STATES – The California State Teachers Retirement System is planning to take a cautious approach to real estate investment for its fiscal year in 2009.
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News
Rothschild raises $840m for new commingled fund
UNITED STATES - Rothschild Realty Managers has smashed its intended target for capital raising on its Five Arrows Realty Securities V commingled fund and collected $840m (€530m) through institional investors - $240m more than originally sought.
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News
Ohio PERS goes global with REITs
UNITED STATES – Officials at the Ohio Public Employees Retirement System have voted to allow investments in public real estate on an international basis.
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PropertyEU Archive
Commerz Real goes green in France, returns to London
Commerz Real has carried out its second significant transaction in a matter of days with the acquisition of office project development La Volta in St Denis near Paris. The property comprises 6,900 m[sup]2[/sup] of office space and has been awarded a French sustainability certificate.
