Latest reports – Page 3474
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PropertyEU Archive
Eurohypo board gives go-ahead to purchase of Essen Hyp
German bank Eurohypo said on Monday its board has given the green light to the acquisition of Hypothekenbank in Essen (Essen Hyp) from its parent company, Commerzbank, for an undisclosed amount. The bank said the decision represents 'a decisive step towards the merger of Essen Hyp and Eurohypo.' Commerzbank announced ...
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PropertyEU Archive
Sol Melia to open new hotel in Austria's highest building
Spanish hotel chain Sol Melia said on Monday it is set to start construction of ME Vienna, a new hotel that will be located at the 60-floor DC Tower 1 in the Donau-City district of the Austrian capital. At 220 metres, the skyscraper will be Austria's highest structure, Sol Melia ...
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PropertyEU Archive
OVG deliver Gouda office to Centric IT Solutions
Dutch developer OVG Projectontwikkeling said on Monday it has delivered a new head office in Gouda, the Netherlands to the IT company Centric. The property, which was constructed in less than 18 months, ranks among the Netherlands' ten most sustainable buildings, having reached a score of 203 in the Greencalc ...
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PropertyEU Archive
Züblin sells two properties in Switzerland
Swiss property company Züblin Immobilien said on Monday that it has sold a logistics centre in Zürich's business district Oerlikon as well as an office property in Pully. The two assets were sold to different buyers and together generated net proceeds after taxes and transaction costs of CHF 52mln (EUR ...
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News
SWF to invest $150bn in real estate – DEGI
GLOBAL – Sovereign Wealth Funds (SWF) will increase their property exposure to 15% over the next few years, German real estate company DEGI estimates in an analysis of the market.
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News
Immofinanz and Immoeast buy parent's property
AUSTRIA – Constantia private bank is giving up its real estate business and selling to its sister firms, Immofinanz and Immoeast, for €440m.
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News
Investors to raise real estate holdings
EUROPE – A study of European institutional investors reveals one in four expect to increase their allocation to real estate this year, while one in 20 expect to reduce their weighting.
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News
Landmark move predicted on real estate FoFs
EUROPE –European institutional investors are likely to see a significant growth in more liquid real estate fund-of-funds in the market as a result of demand from investors, Landmark Partners has suggested.
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News
Sweden sells €4.4bn real estate arm to AP
SWEDEN – The Swedish government has agreed to sell the state-owned real-estate company Vasakronan to AP Fastigheter in a deal valued at SEK 41.1bn (€4.4bn).
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PropertyEU Archive
Barratt to cut 1,000 jobs amid UK market downturn
UK house builder Barratt Developments plans to lay off around 1,000 of its staff in response to the downturn in the British housing market. Barratt is just the latest construction group announcing plans in the past week to cut jobs in the wake of worsening credit conditions and falling home ...
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PropertyEU Archive
Foster unveils designs for Rimini waterfront
Architectural firm Foster + Partners presented designs last week for a new waterfront development in Rimini, Northern Italy. Revealed at a public presentation to the City, the scheme comprises a new seafront promenade and public spaces, including a hotel tower. The proposal is designed to strengthen the relationship between the ...
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PropertyEU Archive
Ballymore to cull 50 jobs, appoints new CEO
Irish property developer Ballymore said on Friday it expects 45 to 50 people to exit the company in 2008 following an 'extensive business review' aimed at increasing the firm's international focus. The company also announced a management reshuffle, with founder Sean Mulryan stepping down as CEO to take up the ...
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PropertyEU Archive
Westfield gets green light for EUR 1.9b London Olympics plan
Shopping centre group Westfield said it had been given the go ahead by the UK government and a number of Olympic bodies for its 180-acre Stratford City retail and leisure development in east London. The £1.5bn (EUR 1.9bn) Stratford City scheme promises to be one of the UK's largest urban ...
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PropertyEU Archive
Sansedoni, Lehman JV buys for EUR 100m from MPS
A 50/50 joint venture of Italy's Sansedoni and investor Lehman Brothers has completed the acquisition of 100% of bank MPS's Valorizzazioni Immobiliari (Vim). Vim owns a portfolio of 188 commercial units that were no longer central to Monte Paschi di Siena's business. The assets have a market value of around ...
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PropertyEU Archive
ING RE acquires logistics site in Hamburg for EUR90m
ING Real Estate has acquired an 80,000 m[sup]2[/sup] logistics asset in the port of Hamburg at the new Hamburg-Altenwerder container terminal for EUR 90mln, German newspaper Immobilien Zeitung reported. The building is 95% leased to a range of tenants including Hamann International, K + P Gefahrgutlogistik, LGI Nord and Hempel ...
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PropertyEU Archive
CBRE acquires Liverpool-based Irving Rice
Global property advisor CB Richard Ellis said on Thursday it had acquired Irving Rice, a privately-owned commercial property services company based in Liverpool, the UK's fifth largest city. Established in 1994 by Nick Rice and Malcolm Irving, Irving Rice will expand and enhance CBRE's service capability in the NorthWest region, ...
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PropertyEU Archive
German state of Hesse resumes sale of Leo III portfolio
The German state of Hesse is putting the Leo III property portfolio back on the market, Minister of Finance Karlheinz Weimar (CDU) told newspaper Financial Times Deutschland (FTD). Weimar said that the sale process has been resumed and that a deal is expected by the end of 2008. The German ...
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PropertyEU Archive
CBRE to lease Galeria Victoria in Poland
Keen Property Partners, the developer of the Galeria Victoria shopping centre in Walbrzych, has appointed CB Richard Ellis as the sole leasing agent responsible for renting the Polish mall. Galeria Victoria will be the first modern retail, entertainment, residential and hotel complex in the city and the surrounding region, bringing ...
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PropertyEU Archive
Multi Turkmall starts construction of Forum Gaziantep
Multi Turkmall, the Turkish subsidiary of Multi Corporation, has kicked off construction of a new project in Turkey, Forum Gaziantep. This shopping and lifestyle centre is located in the city of Gaziantep in South East Anatolia. The scheme will comprise 44,000 m[sup]2[/sup] of retail area on three floors and is ...
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PropertyEU Archive
IVG kicks off Frankfurt redevelopment project
German property investor IVG Immobilien said on Friday its development arm, IVG Development, had started the redevelopment of the former Frankfurt headquarters of German trade union federation BGAG. On completion in 2009, the building will offer 2,000 m[sup]2[/sup] of modern, flexible office space. No financial details were disclosed.
