Latest reports – Page 3483
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PropertyEU Archive
Investors to spend EUR 150m on expansion of Altmarkt-Galerie
A consortium of Deutsche EuroShop, TLG-Immobilien and the ECE Group has acquired the Intecta building in Dresden from Augsburg-based Patrizia Group for an undisclosed amount. The consortium plans to invest about EUR 150mln to re-develop the building as part of a 18,000 m[sup]2[/sup] expansion of the Altmarkt-Galerie shopping centre. The ...
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PropertyEU Archive
Icade to invest in 20,000 m[sup]2[/sup] office building near Toulouse
French real estate investment trust Icade is to develop a 20,000 m[sup]2[/sup] energy efficient office building next to Toulouse Blagnac Airport. The French property developer plans to remain owner of the building, which will include five floors of office space, a restaurant, a fitness area and 640 parking spaces on ...
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PropertyEU Archive
AXA REIM buys Accor hotel portfolio for EUR 470m
AXA REIM has completed the acquisition from hotel group Accor of the first tranche of a portfolio of 57 hotels in France and Switzerland. The transaction stems from an agreement signed by AXA REIM and Accor in December 2007. AXA REIM was acting on behalf of a consortium of investors ...
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PropertyEU Archive
Pricing correction 'more rational' in Europe - Savills
European property investment markets have experienced fewer forced sales than expected as the pricing correction in the region has operated on a more rational pace this year in comparison to the latter part of 2007, according to Savills European research division.
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PropertyEU Archive
Breevast, Immobel purchases Dexia's 25% stake in RAC
Belgian companies Breevast and Compagnie Immobiliere de Belgique (Immobel) have bought Dexia Bank's 25% stake in Rac Investment Corp, owner of the State Administrative Centre in Brussels, known as the Rijks Administratief Centrum. Breevast and Immobel said that they will jointly develop the site in the city centre into a ...
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PropertyEU Archive
East Capital acquires 50% of Avec Asset Management
Stockholm-based East Capital said on Monday that it has acquired the 50% stake it didn't already own in Avec Asset Management from its joint venture partner Arco Vara. Founded in 2005, Avec manages two real estate funds with a total value of EUR 200mln - Avec Baltic Property Fund and ...
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News
Norway to push sustainability in real estate
NORWAY – The Norwegian Ministry of Finance has issued a public consultation on the evaluation of ethical guidelines for the Government Pension Fund – Global, which reveal environmental concerns will be an important factor in the management of its real estate portfolio.
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News
Staffordshire hires JLL to value property portfolio
UK - Staffordshire Pension Fund has hired Jones Lang Lasalle as valuer for its £233.5m (€292m) UK direct property portfolio, replacing Cushman & Wakefield.
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News
BPT beats off Quebec pension fund for Russian assets
RUSSIA - The Baltic Property Trust Group (BPT) has beaten off Russia-hungry rival investors to acquire its latest asset in the market: the first phase of the Country Park business centre in Moscow.
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News
Pension funds cut managers and look again at Europe
EUROPE - Pension funds are slashing the number of property fund managers they deal with, at the same time as increasing their allocations to an asset class they now see as core to their investment strategies.
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News
McKinsey sees Middle East infrastructure soaring
MIDDLE EAST - Middle East institutional investors with liquid funds will dominate infrastructure in their domestic region, according to McKinsey experts.
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PropertyEU Archive
HBOS trading statement casts further gloom over housebuilding
Britain's largest mortgage and savings provider HBOS expects house prices in the UK to fall by 9% in 2008, according to the company's latest trading statement which covers the first three months of the year. The company said that asset growth was slowing and the rate of deposit growth is ...
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PropertyEU Archive
Joint venture to build Chinese centre in Rotterdam
Dutch construction company Volker Wessels and Shanghai Construction Group have set up a 50-50 joint venture to develop the European China Centre in Rotterdam. The 100,000 m[sup]2[/sup] mixed-use complex is expected to cost around EUR 300mln and is due for competion in 2011.
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PropertyEU Archive
IFM Immobilien launches capital hike to fund acquisitions
German investor and project developer IFM Immobilien said on Friday that it is to increase its share capital by up to almost 10%, excluding the subscription rights of shareholders, in a move aimed at funding the expansion of its real estate portfolio. IFM, which invests in commercial real estate with ...
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PropertyEU Archive
Aberdeen fund shops in the Netherlands
Aberdeen Property Investors said on Friday that one of its Pan-European funds, Aberdeen European Balanced Property Fund, has acquired two properties in Heerhugowaard and Andelst in the Netherlands.
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PropertyEU Archive
Germany weathers credit crunch
While the global credit crisis is showing little sign of abating, there are indications that Germany, Europe's largest economy, is weathering the storm better than many of its neighbours.
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PropertyEU Archive
IREA: Trophy asset deals expected in the Spanish hotel sector
The Spanish hotel sector is forecast to see an increase in trophy asset deals in 2008, according to the Spanish property services and research firm Irea. In its latest Hotel & Resort research report, Irea pointed out that disposals would be a result of the need for Spanish property companies ...
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PropertyEU Archive
Corpus Sireo sells property management business to Treureal
Dusseldorf-based Corpus Sireo has sold its property management unit, Corpus Asset Wohnen (CAW), to real estate manager Treureal for an undisclosed amount. CAW's approximately 60 staff members will receive a two-year job guarantee and will continue to manage some 10,000 residential and commercial units belonging to Corpus Sireo nationwide. 'The ...
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PropertyEU Archive
Afirma refinances EUR 754m of debt
Afirma, the Spanish property company formerly known as Astroc, said on Friday that it had signed a refinancing agreement for EUR 754mln of debt. The company's shares rose by almost 10% in Madrid trading following the announcement. In a statement to the stock market regulator CNMV, Afirma said that it ...
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PropertyEU Archive
Cap & Reg sells three Mall shopping centres for EUR 362m
The Mall Fund, managed by UK property asset manager Capital & Regional, announced that it has agreed to sell three properties to Carlyle Group for £286mln (EUR 362mln). The three Mall shopping centres in Chester, Epsom and Edgware were valued at £339.8mln at the end of March 2008. The price ...
