Latest reports – Page 3498
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PropertyEU Archive
Eurohypo: 'German open-ended funds have EUR 30b warchest'
German open-ended real estate funds are well positioned to take advantage of the current market cycle, according to research published by Frankfurt-based real estate bank Eurohypo. The funds have EUR 20-30bn to spend from recent inflows and the proceeds from massive disposal programmes. Looking ahead, Eurohypo said there could ...
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PropertyEU Archive
Bids for Trillium come in below £1.4bn valuation
Three preliminary bids for Trillium, the property outsourcing arm of Land Securities, have come in below a £1.4bn (EUR 1.8bn) valuation, according to a report in PropertyWeek, increasing the likelihood that the UK company could go forward with an alternative to float Trillium on the stock exchange at a later ...
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PropertyEU Archive
Orco swings to EUR13m loss in Q1
Central European property firm Orco Property Group said its revenues slipped 19.5% to EUR 47mln in the first quarter of 2008, resulting in a net loss of EUR 13mln compared to a profit of EUR 400,000 in the year-earlier period. Earnings before interest taxes depreciation and amortisation (EBITDA), at EUR ...
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PropertyEU Archive
CBRE Investors buys two Milan offices
Global services company CB Richard Ellis Investors has bought two office buildings in the Milan area for an undisclosed amount. The firm has acquired the 30,000 m[sup]2[/sup] headquarters of technology company 3M Italia in the San Felice district, and a site in the Ortica district with 12,000 m[sup]2[/sup] of commercial ...
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PropertyEU Archive
IGD shops in Gorizia with EUR 50m retail buy
Italian real estate investment trust IGD SIIQ said on Friday it has signed a preliminary agreement to acquire a shopping gallery in Gorizia, in northeastern Italy, on the border with Slovenia, for EUR 49mln. IGD, which is the first firm to convert to the tax-efficient REIT status in Italy, plans ...
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PropertyEU Archive
Skanska to invest EUR 70m in Copenhagen project
Swedish construction giant Skanska said on Friday it is investing about EUR 70mln to develop the new Havneholmen office tower in central Copenhagen. The office project, comprising about 18,500 m[sup]2[/sup] of space, is scheduled to be completed in mid-2010.
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PropertyEU Archive
PIK eyes Kazakhstan expansion
Russian property developer PIK said on Thursday it is looking to expand into neighbouring Kazakhstan. The company recently set up a business unit, PIK Kazakhstan, in Astana, to facilitate the move. PIK Kazakhstan will be responsible for identifying land for purchase, zoning and construction, PIK said.
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PropertyEU Archive
BPF issues guide for UK regeneration funds
The British Property Federation (BPF) has published a guide for developers looking to access to public funds for regeneration projects in the UK. The organisation said millions of pounds are currently available for new homes and regeneration projects, but developers are not always sure how to access this money.
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PropertyEU Archive
Metrovacesa leases office building to Banesto
Spanish property giant Metrovacesa said on Friday it has reached an agreement with bank Banesto to lease 100% of its new Cristalia office building in Madrid. The property, which provides around 8,520 m[sup]2[/sup] of office space, opened its doors last week. The building also includes around 3,210 m[sup]2[/sup] of retail ...
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PropertyEU Archive
Cap & Reg in £286m fundraising for Mall fund
UK property asset manager Capital & Regional said on Friday that its Mall fund is seeking to raise £286mln (EUR 363mln) in new equity at a price of 101 pence per unit from existing investors. This represents a discount of 45% to the April unit price, Cap & Reg said ...
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MagazineMake hay while the sun shines
US opportunistic funds have the potential to thrive under current market conditions – provided managers act prudently. Stephanie Schwartz-Driver reports
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PropertyEU Archive
Buyers should 'rest' this year, ULI conference hears
Buyers of real estate in the UK and Continental Europe should take the rest of the year off as they won't miss much, the ULI European Trends conference in Stockholm has heard. Taking part in a panel session called 'Rethinking the Future - Seeing beyond the Clouds', Roger Orf, managing ...
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PropertyEU Archive
Multi starts development of Czech mall
Dutch shopping centre developer Multi Development celebrated the groundbreaking ceremony on Thursday for its Forum Ústí nad Labem, a 24,000 m[sup]2[/sup] regeneration scheme in the Czech city of Ústi. Construction is expected to be completed during the autumn of 2009. 'Forum Ústí nad Labem will create a new and intimate ...
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PropertyEU Archive
Five European projects selected at ULI awards
Five developments have been selected to represent Europe at the Urban Land Institute's global excellence awards ceremony in Miami later this year. The five winners were unveiled at ULI Europe's European Trends conference in Stockholm on Thursday. European jury chairman Ian Hawksworth said they were chosen from 11 candidate projects. ...
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PropertyEU Archive
C&W: Europe's shopping centre space to rise 20% in 2008-09
The current shopping centre development boom across Europe is set to continue, with more than 22 million m[sup]2[/sup] of new shopping centre schemes expected to open this year and next, according to the latest European Shopping Centres Report by real estate consultant Cushman & Wakefield (C&W).
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PropertyEU Archive
NIBC, Heijmans Vastgoed sells EUR 80m project in Eindhoven
Dutch real estate firm Heijmans Vastgoed and merchant bank NIBC have sold the second phase of their Rond de Admirant project in Eindhoven for about EUR 80mln. The asset was jointly acquired by Stichting Spoorwegpensioenfonds, and Stichting Pensioenfonds Openbaar Vervoer, two Dutch pension funds for the transport sector, together with ...
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PropertyEU Archive
Redevco sells French assets for EUR 75m
Dutch property company Redevco has signed an agreement to sell 19 assets in France to a fund managed by Cleaveland for a total EUR 75mln. The portfolio consists of nine retail shops in Paris, a retail park in Ile de France, two logistics warehouses in the Lyon region and three ...
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PropertyEU Archive
GE RE joins BNP Paribas in pan-European hotel fund
GE Real Estate said on Thursday that it is has teamed up with BNP Paribas Assurance as a founding partner of Capital France Hotel (CFH), a hotel investment fund which is managed by the French asset management subsidiary of Belgium's Algonquin. The two partners intend to grow CFH's assets under ...
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PropertyEU Archive
CBRE: London still most expensive office market
London’s West End is still the world’s most expensive office market, while rapidly rising Moscow climbed to second place, according to the latest semi-annual Global Market Rents survey by property adviser CB Richard Ellis. The report tracks world markets with the highest and fastest-growing occupancy costs for the 12 months ...
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PropertyEU Archive
Grupo Prisa sells Spanish portfolio for EUR 315m
Spanish media group Promotora de Informaciones (Prisa) has sold a portfolio consisting of three office buildings in Madrid and Barcelona for EUR 315mln in a transaction generating capital gains of EUR 242mln, Prisa said. The properties were purchased by Spanish real estate investment company Drago Real Estate in a ...
