Latest reports – Page 3484
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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
HSH Nordbank Q1 results 'positive'
German lender HSH Nordbank reported that it had generated a consolidated net profit of EUR 81mln for the the first three months of 2008 compared to EUR 389mln in the same period in 2007. The operating profit declined to EUR 39mln compared to EUR 426mln over the same period in ...
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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
Deka buys Dutch logistics asset for EUR 50m
German open-ended fund Deka Immobilien has acquired a logistics property in Moerdijk in the southern Netherlands for EUR 50mln from Austrian investment company Akron. Built in 2001, the plant is leased on a long-term basis to Ewals Logistics and consists of two buildings with a total leasable area of 64,200 ...
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PropertyEU Archive
KanAm shops in Paris suburb
German investor KanAm Grund has acquired the Le Jade office building in Saint-Denis in the northern suburbs of Paris for an undisclosed amount. The building was bought from Italian insurer Generali and provides around 38,000 m[sup]2[/sup] of office space and about 700 parking spaces.
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PropertyEU Archive
Metrovacesa puts EUR 500m worth of land up for sale
Spanish property giant Metrovacesa has put around 19% of its total land bank worth some EUR 500mln up for sale as part of its new strategy of focusing on income-generating assets.
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PropertyEU Archive
K&B cuts full-year forecast as market deteriorates
French housing developer Kaufman & Broad (K&B) said on Thursday that it has downwardly revised its earnings forecast for the full year in 2008 due to the 'significant slowdown in the French housing market' which saw total housing orders fall 30% to EUR 594.7mln in the first half.
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PropertyEU Archive
Barwa snaps up hotels in Switzerland
Qatar's Barwa International, a subsidiary of Barwa Real Estate, has acquired two hotels in Switzerland. Financial details were not disclosed.
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PropertyEU Archive
Pirelli RE eyes Kaufhof assets
Italian property giant Pirelli Real Estate would be interested in acquiring the property owned by German department store chain Kaufhof in the event the owner Metro decided to put the assets up for sale, CEO Carlo Puri Negri said during a conference this week of the Italian real estate industry ...
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PropertyEU Archive
DTZ lays off staff in UK amid market downturn
Property broker DTZ has announced plans to lay off around 50, or 2.5%, of its UK staff as part of a strategic review carried out in response to the downturn in the British property market. The firm said that 'less than 50 people will be affected by the review, out ...
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PropertyEU Archive
Kenmore strengthens Swedish team
UK-based property investor and developer Kenmore said on Wednesday it has appointed Jonas Ramstedt as investment manager of its Stockholm office. His brief will be to identify and carry out new investments in the Nordic region.
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PropertyEU Archive
Deutsche Wohnen sells off cable business
German residential property company Deutsche Wohnen said on Thursday it has sold its cable subsidiary AKF to telecoms provider Versatel for EUR 30mln because it no longer forms part of its core business. The deal is subject to regulatory approval.
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PropertyEU Archive
Atisreal expands in Europe with Jersey acquisition
Atisreal, the property services arm of BNP Paribas, said on Thursday that it has expanded its European business through the acquisition of Barnes Daniels and Partners, a leading services firm based in Jersey.
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PropertyEU Archive
PIK and Storm Properties to develop Russian office complex
Russian residential real estate developer PIK Group and Storm Properties said on Thursday that they have purchased a 1.5-hectare plot in St Petersburg for the development of a 80,000 m[sup]2[/sup] Class A office complex.
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PropertyEU Archive
BPT fund buys Country Park business centre in Moscow
Baltic Property Trust (BPT) has secured its third real estate transaction in Russia with the acquisition of the Country Park business centre in Moscow for an undisclosed amount. The centre was built in 2004 as phase one of the Country Park project. It will be added to BPT's Russia-focused fund, ...
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PropertyEU Archive
New GFH fund to target distressed property in the UK
Bahrain-based Islamic investment bank Gulf Finance House (GFH) said on Thursday it is launching Gulf Atlantic Real Estate II (GARE II), a Shariah-compliant fund targeting distressed property in the UK commercial real estate market. 'This fund builds upon the success of GFH's first UK property fund, Gulf Atlantic Real Estate ...
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PropertyEU Archive
AXA acquires Belgian shopping mall development
AXA Belgium has signed an agreement with Belgian developer Codic on the acquisition of the Blauwe Toren, a company created to develop and manage the B-Park shopping centre development in Bruges. The total investment comes to about EUR 90mln. Jones Lang LaSalle Capital Markets advised AXA on the purchase of ...
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PropertyEU Archive
US investor Granite opens Amsterdam office
US property investor Granite Investment Group has opened an office in Amsterdam to gain better access to European capital and European banking finance.
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PropertyEU Archive
Lloyd Fonds acquires two hotel projects in Germany
Hamburg-based fund manager Lloyd Fonds has acquired two hotel developments in Germany for EUR 36mln from German hotel development firm GBI. Lloyd Fonds bought two Motel One developments in Nuremberg and Berlin and said the hotels will be transferred to a new closed-end fund which will be launched at the ...
