Latest reports – Page 3509
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PropertyEU Archive
Babcock & Brown opens Amsterdam office
International investment and specialised fund and asset management group Babcock & Brown (B&B) is continuing the expansion of its European activities with the opening of an office in Amsterdam. The new office - B&B's 10th office in Europe and its 32nd office worldwide - will be led by recently ...
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PropertyEU Archive
DEG sells Koln HQ
German financial group DEG has sold its headquarters in Koln-Mungersdorf, Western Germany to German real estate firm Pandion Real Estate for an undisclosed amount. DEG's head office comprises three buildings on a 9,000 m[sup]2[/sup] plot of land. The sale process for the property was organized by the Cologne branch of ...
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PropertyEU Archive
Beni Stabili closes jv deal in Milan
A joint venture of Italian office-focused property firm Beni Stabili and construction company Greenway Costruzioni has completed the purchase of a 17,000 m[sup]2[/sup] plot of land in Milan for EUR 23mln. The acquisition was initially announced in February when Beni Stabili and Greenway Costruzioni said they were launching the new ...
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News
Texas Teachers approves $862.5m in new structures
UNITED STATES - Teacher Retirement System of Texas approved $862.5m (€557.9m) in real estate commitments in April, including one deal which has the structure of a commingled fund but is in fact a separate account.
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News
NYSTRS approves $405m for real estate
UNITED STATES - New York State Teachers Retirement System (NYSTRS) has approved $405m (€260.4m) in new real estate commitments to non-core strategies.
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News
LaSalle creates hotel JV
UNITED STATES - LaSalle Investment Management and public Reits LaSalle Hotel Properties have formed a $700m (€455.3m) joint venture to invest in US hotels.
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News
Pennsylvania State commits to senior housing fund
UNITED STATES - Pennsylvania State Employees Retirement System has already approved a $25m (€16.2m) commitment to Senior Housing Partners IV commingled fund.
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News
TIAA-CREF moves into commingled space
UNITED STATES - TIAA-CREF has created its first commingled fund to be backed by third-party investment capital.
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PropertyEU Archive
Accor sells the Grand hotel in Amsterdam for EUR 92m
French hotel group Accor has sold the Grand Hotel in Amsterdam under a sale-and manageback deal to an unnamed party for a total EUR 92mln. Accor said the buyer is paying EUR 60mln for the hotel and investing an additional EUR 32mln in renovation work. Accor will continue to run ...
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PropertyEU Archive
Developers face 'double whammy' of rising costs
European property developers face the dual challenges of the spiralling cost of raw materials and much tougher lending conditions. The cost of financing has risen massively since the start of the credit crisis and could endanger real estate development projects, according Ed Nozeman, professor of real estate development at the ...
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PropertyEU Archive
Martinsa Fadesa refinances EUR 4b of debt
Spanish property group Martinsa Fadesa has signed a refinancing agreement with all its creditors to cover EUR 4bn in debt. About EUR 2.6bn relates to a loan taken by Martinsa in 2006 to acquire peer Fadesa. Another EUR 1.4bn is a short term operative loan, the property group said. The ...
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PropertyEU Archive
Gazeley to develop Magna Plaza in Le Havre
Global logistics operator Gazeley said it plans to develop a Magna Plaza complex in the logistics park of the French port of Le Havre. The project - Gazeley's sixth Magna Plaza scheme - will include 180,000 m[sup]2[/sup] of space across five buildings on a 40-hectare site. Each asset will contain ...
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PropertyEU Archive
Cramo sells nine assets to Aberdeen funds
Cramo Group, the Finnish construction equipment company, has agreed to sell nine properties in Finland to funds owned by asset manager Aberdeen. The company said it will lease back the properties for an initial fixed term of 10 years. The assets include Cramo’s headquarters located in Vantaa.
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PropertyEU Archive
Rental growth slowing in Q1: JLL
Occupier demand in the European office market remains strong, but rental growth shows signs of slowing in 2008, according to Jones Lang LaSalle's (JLL) Q1 2008 European Office Property Clock. However, the property consultants noted that whilst the rental outlook for Western Europe for 2008 is subdued, rental growth expectations ...
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PropertyEU Archive
Immorent set to develop EUR 300m project in Bucharest
Austrian real estate company Immorent, part of Austrian Erste group and Sparkassen, is stepping up its presence in Romania with the development of a EUR 300mln project in Bucharest. Construction work on the 4.4-hectare site is due to start at the end of 2008, Romanian newspaper Business Standard said. The ...
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PropertyEU Archive
Corio signs EUR 300m JV with Acteum, develops Turkish mall
Corio is investing EUR 110mln in the development of a 50,000 m[sup]2[/sup] shopping centre in the eastern Turkish city of Malatya. The Dutch retail property company said it has acquired a 33,400 m[sup]2[/sup] plot on which it will build the mall with privately-owned real estate group Acteeum. The commercial zoning ...
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PropertyEU Archive
Gazeley buys from RREEF, Barwood
Global logistics space provider Gazeley has announced the purchase of a 405,000 m[sup]2[/sup] site in the British Midlands from Barwood Developments and Deutsche Bank's RREEF funds for an undisclosed amount. The site has outline planning grants for 140,000 m[sup]2[/sup] of logistics space. The company hopes to commence redevelopment of the ...
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PropertyEU Archive
Pirelli to launch EUR 1b European fund
Italian property giant Pirelli Real Estate plans to launch a EUR 1bn opportunistic fund for Europe. CEO Carlo Puri Negri said on Thursday that the company will start fundraising in the coming months. He added that the firm also intends to strengthen the management structure of its Non Performing Loans ...
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PropertyEU Archive
Multi switches tack, develops for third parties
Dutch retail specialist Multi Corporation says it will not long develop exclusively for its own real estate portfolio in some countries. 'The new projects in Turkey, Ukraine, Georgia are open to other investors,' Multi's managing director Nico Veldhuis told property newspaper Vastgoedmarkt. Multi's decision marks a significant turnaround in the ...
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PropertyEU Archive
Enterprise Inns receives REIT green light
UK pub group Enterprise Inns has been given the go-ahead from HM Revenue & Customs to convert to a tax-efficient real estate investment trust (REIT), newspaper the Financial Times reported. Shares in the pub group rose by 29% to 510p after the announcement. Enterprise Inn, with 7,700 assets, would be ...
