Latest reports – Page 3500
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PropertyEU Archive
Rabo Bouwfonds confirms CEO resignation
Dutch property group Rabo Bouwfonds confirmed on Wednesday that Tjalling Halbertsma will resign as management board chairman with effect from 1 June, due to differences of opinion on corporate strategy. Board member Peter Keur will take over his duties on an interim basis until a new chairman is found.
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PropertyEU Archive
Skanska to expand British prison for EUR 65.3m
Swedish construction firm Skanska has been awarded a GBP 52mln (EUR 65.3 mln) contract to design and build an extension to the HMP Lowdham Grange prison in Nottinghamshire, UK. The contract was awarded by Serco, which operates and manages the prison on behalf of HM Prison Service.
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PropertyEU Archive
Hermitage to go ahead with 310-m tower in Courbevoie
Hermitage, the French subsidiary of Russia’s Stroïmontage Group, said on Wednesday it has chosen another location for the 310-metre tower development it had initially planned for La Défense’s new iconic building, Tour Signal.
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PropertyEU Archive
Aberdeen completes GPI deal
Aberdeen Property Investors (API) is set to complete the takeover and rebranding of Goodman Property Investors (GPI) by 31 May. The UK's financial regulator has approved the deal which transforms API into the eighth-largest property fund manager in the world. 'We filed with the Financial Services Authority on a Friday ...
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PropertyEU Archive
Aberdeen fund shops in France and the Netherlands
Aberdeen Property Investors said that its European Balanced Property Fund has acquired properties in both France and the Netherlands for an undisclosed amount. The fund has bought the Omega B office building located in Levallois-Perret, North West of Paris. The property provides 4,780 m[sup]2[/sup] of space let to multiple tenants ...
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PropertyEU Archive
STE sells EUR 92m portfolio to UFG
French property firm Société de la Tour Eiffel (STE) has sold a portfolio consisting of three office properties to asset management group UFG for EUR 92mln. The French SIIC has disposed of Massy Campus 2, a 13,600 m[sup]2[/sup] fully-let office building in the southwestern suburbs of Paris close to Orly ...
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PropertyEU Archive
C&W: European investment falls 37% in Q1
The full force of the credit crunch is now being felt by the European commercial property market, consultant Cushman & Wakefield (C&W) said in a new research report released on Tuesday. Investment volumes in the first three months of 2008 fell 37% compared with the year-earlier period, while ...
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PropertyEU Archive
Vastned O/I buys Dusseldorf office building
Pan-European property fund Vastned O/I is boosting its presence in the German market with the purchase of a EUR 30mln office building in Dusseldorf. The acquisition brings the total volume invested in the country to EUR 130mln, representing five investments in Germany. The office, located in one of Dusseldorf's office ...
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PropertyEU Archive
Henderson appoints new head of asset management for Herald
Global asset manager Henderson Global Investors has appointed Kay Jackson as head of asset management for its specialist pan-European retail property fund Herald. Jackson, who joined Henderson in 2007, previously worked for CB Richard Ellis and spent six years at Tesco where he managed the joint venture shopping centre portfolio ...
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PropertyEU Archive
Corestate raises EUR 500m for German residential fund
Zurich-based Corestate Capital said on Tuesday it has raised EUR 486mln from institutional investors for its real estate fund, Corestate German Residential. The investment vehicle targets direct and indirect investments in German residential property for a total volume of around EUR 2bn. According to a company statement, approximately 50% of ...
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PropertyEU Archive
Inrev: German investors pour capital into funds
German institutional investors are increasingly switching billions of euros invested directly in real estate into property funds, the association representing investors in non-listed real estate funds Inrev said on Tuesday. 'It is clear that a major trend is underway with German insurers and pension funds increasingly choosing to invest indirectly ...
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PropertyEU Archive
JLL appoints first sustainability research director
Jones Lang LaSalle has appointed Franz Jenowein to the newly created position of Sustainability Research Director as part of its commitment to sustainability in the built environment. Jenowein joins the global research team from Accenture, where he worked for 13 years in a number of research and marketing positions.
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PropertyEU Archive
Union Investment acquires office tower in Barcelona
Hamburg-based Union Investment Real Estate has returned to the Spanish office property market for the first time since 2004 with the acquisition of the Torre Diagonal Litoral office building in Barcelona for EUR 84mln. Featuring 260 parking spaces, the fully-let building is earmarked for Union Investment's Immo-Invest: Europa institutional real ...
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PropertyEU Archive
Plaza-led JV to go ahead with EUR 1.5b project in Budapest
A consortium of investors including emerging markets developer Plaza Centers has won a licence to build a major casino on a EUR 1.5bn mixed-use development in central Budapest. The Dream Island consortium, in which Plaza holds a 30% stake, said on Tuesday that the granting of the licence will enable ...
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PropertyEU Archive
Eurohypo fund management unit in buyout
Two former joint chief executive officers of Eurohypo's investment banking division have left the company and acquired its Financial Services Authority-regulated fund management business. Paul Rivlin and Neil Lawson-May, the two investors buying out the company, said on Tuesday they are renaming it Palatium Investment Management. The new firm plans ...
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PropertyEU Archive
Quinlan Private fund raises EUR 400m in the US
Irish investor Quinlan Private said on Tuesday it has raised EUR 400mln of equity from US investors for its European Strategic Real Estate Fund. The capital was raised from leading institutional investors, endowments, foundations, life companies and high net worth individuals throughout the US, Quinlan said, noting that the total ...
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PropertyEU Archive
Atisreal appointed exclusive agent for AXA logistics portfolio
BNP Paribas' property services unit Atisreal said on Tuesday it has been appointed exclusive agent for the marketing and commercialisation of a 307,000 m[sup]2[/sup] logistics portfolio owned by French property investment group AXA Real Estate Investment Managers (AXA REIM).
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PropertyEU Archive
Hypo RE: JC Flowers' offer undervalues company
Hypo Real Estate's management and supervisory boards said on Tuesday that the offer presented last week by a group of investors led by JC Flowers is below the 'current intrinsic value' of the Munich-based bank. The investors offered to acquire up to 50 million shares, or about 25% of Hypo ...
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PropertyEU Archive
Pirelli board approves launch of EUR1b European fund
Italian property giant Pirelli Real Estate said on Tuesday that its board of directors has approved the launch of the firm's first European real estate fund. The new fund aims to raise EUR 1bn from investors, but Pirelli did not specify when fundraising efforts are due to begin. The fund ...
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PropertyEU Archive
Jean Nouvel wins Tour Signal tender for La Defense
The international tender for the new high-rise building Tour Signal in the La Defense business district of Paris has been awarded to architectural firm Ateliers Jean Nouvel, EPAD, the body overseeing the development of La Defense, said at a press conference in Paris on Tuesday.
