Latest reports – Page 3491
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PropertyEU Archive
GTC acquires two Russian developers for EUR 43m
Warsaw-listed Globe Trade Centre (GTC) has purchased Russian property developers OOO Okkerville and ZAO Krasny Mayak for a total of EUR 43mln. In April, the company signed a preliminary agreement for a 50% stake in a commercial investment project to build a 110,000 m[sup]2[/sup] office building in the Vyborgsky neighbourhood ...
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PropertyEU Archive
Dubai World buys Gazeley to strengthen logistics platform
US retail giant Wal-Mart has sold its UK-based logistics arm Gazeley to Dubai World. The financial details were not disclosed. The purchase was carried out through Economic Zones World (EZW), a Dubai World company. Dubai World is an investment company that manages a range of businesses for the government of ...
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PropertyEU Archive
EstCapital sets up new fund focusing on energy assets
Italian fund management firm EstCapital is launching a closed-end real estate fund which will invest in energy producing properties and infrastructure. In a statement, the Italian firm, which is headed by Gianfranco Mossetto, said that the investment vehicle, RealEnergy, is being set up in partnership with the Bologna-based industrial property ...
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PropertyEU Archive
ULI Europe to launch forum on affordable housing
The Urban Land Institute is setting up a new product council to focus on affordable housings in Europe, Greg Clark, senior fellow at the ULI EMEA/India announced on Tuesday during the Provada real estate fair in Amsterdam. ULI, a non-profit organisation founded in the US to promote the responsible use ...
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PropertyEU Archive
GE joins BNP Paribas to grow hotel fund to EUR 1bn
GE Real Estate Europe has jumped aboard the Capital France Hotel fund, joining BNP Paribas Assurance as a founding limited partner. They intend to grow CFH's assets under management to EUR 1bn by 2010 by investing in hotels across the Euro zone, Scandinavia and Central and Eastern Europe.
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PropertyEU Archive
Mirax ties up with Beetham in London's £1b Blackfriars project
Russian developer Mirax has purchased a 50% stake in a mixed-use tower project on London's South Bank from UK peer Beetham Organization for around £60mln. Mirax, which already has a presence in London via projects such as the redevelopment of the 19 century Cornwall Terrace, will join forces with ...
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PropertyEU Archive
Silvio Estienne appointed head of ING REIM France
ING Real Estate announced on Monday the appointment of Silvio Estienne as country manager France for ING's real estate investment management business as of 1 July 2008. From its Paris office, ING Real Estate manages a portfolio of real estate assets in the retail, offices, residential and logistic sectors with ...
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PropertyEU Archive
Savills: Rising demand for retail warehouses drives rents up
Rising demand for retail warehouses among international retail chains throughout Southern and Eastern Europe may generate further positive rental growth in the sector, according to the latest research report issued by international consultant Savills. The property services firm said on Monday that rents in the retail warehouse sector grew on ...
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PropertyEU Archive
Forced sales on the way, BCO delegates hear
The number of forced sales of distressed properties will definitely increase in the foreseeable future, according to John Plender, CEO of UK-based real estate company Quintain. 'The banks have been playing carefully, they don't want to dump properties on the market. But it's impossible to stop.'
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PropertyEU Archive
Icade denies plans to sell entire residential portfolio
Icade, the French listed real estate investment unit of bank Caisse des Depots, has confirmed that it is in the process of selling some residential properties, but denied a report in La Tribune that it is disposing of its entire residential portfolio of 30,000-35,000 apartments in France.
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PropertyEU Archive
Dawnay Day Treveria flags possible company sale
Dawnay Day Treveria, the AIM-listed investor in the German retail property, signalled on Monday that it is launching a strategic review that could lead to the sale of the entire company. DDT said the review was being undertaken due to the performance of its shares. The company's shares have been ...
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PropertyEU Archive
PIK acquires plot for EUR 2bn St Petersburg development
PIK Group, the Russian residential proeprty developer listed in London, confirmed on Monday that it has acquired its first development site in St Petersburg. The 63-hectare site will be used to develop business class housing in what PIK has described as a flagship development in the Russian city. The total ...
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PropertyEU Archive
TK Development sells share in two Czech properties
Danish real estate company TK Development has sold its share of two shopping centres in the Czech Republic to UK fund manager Pradera for a total of EUR 104mln.Through Euro Mall Holdings, TK Development owns 20% of joint venture Euro Mall Ventures which entered into an agreement with Pradera to ...
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PropertyEU Archive
Dubai World tipped to buy Gazeley for £300m
Wal-Mart's industrial property developer Gazeley is being sold to Dubai World, the emirate's sovereign wealth fund, in a transaction worth more than £300mln (EUR 376mln), newspaper the Financial Time reported, The paper, without quoting sources, added that the acquisition, made via Dubai World's logistics development unit Jebel Ali Free Zone ...
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PropertyEU Archive
Quintain chief sees worsening of credit crisis, but no 'Armageddon'
The credit crisis will get worse before it gets better, according to John Plender, CEO of UK property company Quintain. 'A fair amount of trouble is on the way,' he said, pointing to the mortgage and derivatives markets. 'There have been phenomenal injections of liquidity by the European Central ...
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PropertyEU Archive
Benson Elliot targets distressed residential in Spain
Private equity real estate firm Benson Elliot said on Monday that it has acquired a 70% stake in Barcelona-based property company Promobuilding to focus on the acquisition of distressed residential in Spain.
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PropertyEU Archive
AXA REIM completes leasing of Opus 12
French property management group AXA REIM said on Monday that it has completed the letting of its Opus 12 tower following an agreement with AGF which is taking about 8,300 m[sup]2[/sup] of office space. The Canadian investment management group is renting the space at a price of an annual EUR ...
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PropertyEU Archive
AAIM India announces first Special Township investment
AAIM India, a unit of UK real estate group AAIM, has announced its first investment is in a 650,000 m[sup]2[/sup] mixed-use development in the city of Nagpur in Central India. The group said that this is first foreign direct investment in an Integrated Township, established under the Special Township Policy ...
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PropertyEU Archive
Europa buys first property in Ukraine for $25m
Europa Capital has announced that its Europa Emerging Europe Fund has acquired a 23,850 m[sup]2[/sup] warehouse in the Kiev region for $25mln (EUR 16mln) from Ukrainian developer Aladdin Group. The asset, Logistic Park East I, is located 15 km northeast of the city centre. Europa said it is fully let ...
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PropertyEU Archive
Knight Frank acquires retail agency MVG
UK property advisor Knight Frank has strengthened its retail expertise with the acquisition of retail practice Markham Vaughan Gillingham (MVG) for an undisclosed amount. Led by five directors and two associate directors from offices in London, Bristol, and Manchester, MVG is currently advising on more than 9.5 million sq ft ...
