Latest reports – Page 3487
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PropertyEU Archive
Riofisa signs up Colliers in Bulgaria
Spanish developer Riofisa has hired Colliers International in Bulgaria as exclusive leasing agent for two of the largest retail centres in the country. Colliers will represent Riofisa for the Civis Center Sofia (total leasable area of 85,000 m2) and Civis Center Plovdiv (total leasable area of 55,000 m2).
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PropertyEU Archive
Islamic bank launches second UK real estate fund
Gulf Finance House (GFH), the Bahrain-based Islamic investment bank, has announced the launch of a second Shariah-compliant fund to take advantage of the 'rare, cyclical buying opportunity' in the UK commercial property market.
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PropertyEU Archive
'Economic argument for sustainability stronger than ever'
Occupiers, not investors or brokers, are driving moves towards a sustainable real estate industry, according to Bernd Knobloch, CEO of German bank EuroHypo. 'Investors will do what occupiers are doing,' he said during the inaugural Sustainable Cities conference organised by the Financial Times and the Urban Land Institute in London ...
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PropertyEU Archive
Carlyle EUR 9bn fund aims at distressed property in Europe
Private equity firm Carlyle Group has confirmed that its EUR 9bn European real estate fund, Carlyle Europe Real Estate Partners III (CEREP III), is looking at buying distressed property in countries most affected by the credit crunch, notably the UK, Ireland and Spain.
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PropertyEU Archive
US dominates inaugural FT/ULI Sustainable Cities Awards
No less than eight of the nine winners of the inaugural FT/ULI Sustainable Cities Awards held on Monday in London are American. The nine winners were selected from a group of 20 finalists. In total there were 86 entrants from 15 countries.
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PropertyEU Archive
Hochtief sells Frankfurt development to Danish investor
German developer Hochtief has sold the urban development project in Kelkheim near Frankfurt to Victoria Properties of Copenhagen for around EUR 47mln. Some 90% of the 17,500 m[sup]2[/sup] total space has already been let and lease contracts for the remaining area are currently at the final negotiation stage, the companies ...
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PropertyEU Archive
Great Portland sells Regent Street block for EUR 122m
Great Portland Estate (GPE) announced on Tuesday that The Great Victoria Partnership (No 2), a joint venture with Liverpool Victoria Friendly Society, has agreed to sell the 5,600 m[sup]2[/sup] retail block at 208-222 Regent Street in London to an unnamed private purchaser for £96.6mln (EUR 122.5mln). GPE said the ...
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PropertyEU Archive
Dubai's Limitless expands to Turkey
Limitless, the international development arm of Dubai World, announced on Monday that it has expanded its activities to Turkey due to the rising demand there for homes, hotels and retail space. Limitless has design, sales and administrative personnel in a new office in the Esentepe district of Istanbul.
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PropertyEU Archive
MGPA raises EUR 3.4 bn for Europe and Asia fund
Private equity fund manager MGPA said on Monday that it had secured commitments totalling $5.2 bn (EUR 3.4bn) at the close of its MGPA Fund III. MGPA Fund III consists of two regionally based private equity real estate funds, MGPA Europe Fund III and MGPA Asia Fund III, with mandates ...
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News
Managers launch green standard for old assets
EUROPE - A consortium containing four of Europe’s largest property investors has developed what it claims is the first standard to measure the sustainability of existing buildings.
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News
Japanese returns head for zero
JAPAN - Slowing capital growth is accelerating Japanese property’s downward growth trend, according to IPD, as new figures show there was a 5% fall in return to 11% between January and February.
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News
Hotels grow – but outside Europe
EUROPE - The hotel sector’s centre of gravity has lurched away from Europe, according to Martin Armitstead, DTZ’S managing director of EMEA hospitality.
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News
Care and cure ‘perfect for pension funds’
EUROPE - ‘Care and cure’ property assets are gaining appeal among pension funds because they offer a hedge against the broader economic downturn, according to ING Real Estate fund manager Wietse de Vries.
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News
Russian infrastructure spending to soar
RUSSIA –The Russian government has decided to increase infrastructure spending to over $1trn (€650bn) over the next 10-15 years, creating attractive investment opportunities in the Russian infrastructure market, suggests Pictet, the Swiss private bank.
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PropertyEU Archive
Multi Germany wins first ICSC Community Support Award
The International Council of Shopping Centers (ICSC) has presented its first European Community Support Award to the German subsidiary of shopping centre development specialist Multi Corporation. The ICSC said Multi Development Germany won for its 'Multi Talent Programme'.
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PropertyEU Archive
British Land sells Woking centre
British Land has exchanged contracts with a private investor to sell its Woking shopping centre, The Peacocks, for £116mln (EUR 147mln), reflecting a net initial yield of 5.75%. The Peacocks offers a mix of 72 retailers and five anchor stores all located within 92,903 m[sup]2[/sup] of retail and leisure space.
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PropertyEU Archive
Q-Park buys French parking firm for EUR 700m
European parking group Q-Park says it is the second-largest provider of parking space in France and Belgium following the acquisition of French firm, Epolia SAS, for EUR 700mln. Earlier this year Q-Park acquired Epolia's portfolio in Norway.
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PropertyEU Archive
Imo Pan to invest EUR 88m in Algarve mall project
Imo Pan Iberian Retail, a property investment fund managed by Portuguese real estate firm Imorendimento, intends to invest EUR 88mln in the development of a new retail scheme in the heart of the tourist region of the Algarve in Portugal.
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PropertyEU Archive
North America lags behind Europe on property investment volumes
Europe surpassed North America in the first quarter of 2008 as the most active market place for property deals. Just over $50bn (EUR 32bn) in significant commercial real estate deals were transacted in North and South America in the first three months of this year, a decline of 67% compared ...
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PropertyEU Archive
Sol Melia consortium buys Altavista Hotelera for EUR 103m
A consortium of Spanish hotel chain Sol Melia, bank Grupo Caja Mediterraneo-CAM and two other investors has acquired hotel company Altavista Hotelera for EUR 103mln. Under the agreement, Sol Melia and Grupo Caja Mediterraneo are buying a 40% stake each, while investors Invernostra and Grupo de Negocios Duero will hold ...
