Latest reports – Page 3511
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PropertyEU Archive
Wealth Management Capital buys German technology park
Wealth Management Capital has acquired the Hubschrauber technology park in Donauworth, Bavaria from a joint venture of German bank IKB and Dusseldorf-based real estate manager MFRSI for an undisclosed sum. WMC, a unit of German bank Bayerische Hypo- und Vereinsbank, was advised by property consultants Savills and CVV.
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PropertyEU Archive
Hypo Real Estate Q1 profits decline due to market turmoil
Munich-based Hypo Real Estate has announced a 38% drop in first quarter pre-tax profits to EUR 190mln from EUR 304mln the year before largely due to writedowns on bad investments. Without the amount from a mandatory convertible bond issued in connection with the acquisition of Dublin-based German lender Depfa, Hypo’s ...
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PropertyEU Archive
Sponda Q1 profits surpass analysts predictions
Finnish property company Sponda has reported first quarter operating profit of EUR 46.5mln, a significant drop on the EUR 103.4mln result in the same period in 2007 - but still ahead of forecasts. The higher than expected results were due to improved occupancy rates and higher average rents. Analyst forecasts ...
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PropertyEU Archive
Austrian property turns in 'robust' performance in 2007
The Austrian All Property total return for 2007 was a 'robust' 6.8%, the IPD said on Tuesday. The return was the highest posted since the beginning of the index and constituted an increase of 10 basis points on 2006.
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PropertyEU Archive
Chagala shows revenue rise of 18%
Chagala Group, the London-listed Kazakh real estate developer-owner, has announced its revenues rose 18% to $22.07mln (EUR 14.24 mln) in the first year as a listed company from EUR 12.1mln in 2006. Operating profit increased by 20.3% to EUR 3.87mln from EUR 3.22mln. Pre-tax profit dropped 13.8% to EUR 1.35mln. ...
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PropertyEU Archive
Jelmoli gets backing to create separate listed real estate unit
Swiss retail group Jelmoli has received backing from its principal shareholder, Pelham Investments, to create separate real estate and investment companies. The new companies will be listed on the Swiss Stock Exchange.
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PropertyEU Archive
Prologis completes first lease transaction in Rome
Prologis said on Monday that it has leased 30,400 m[sup]2[/sup] of distribution space in southern Rome to the Italian supermarket chain Coop Italia. The leased space represents 100% of a new distribution facility that Prologis recently completed at its Park Anagni, where the company plans to serve its network of ...
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PropertyEU Archive
DTZ hospitality expands into Russia
Real estate adviser DTZ said its hospitality group has expanded into Russia with the appointment of a new Moscow team. The Moscow hospitality group will be headed by director David Jenkins, who was previously director for Russian operations at Horwarth HTL in Moscow. The other five consultants who make up ...
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PropertyEU Archive
Software AG chooses CBRE as real estate adviser
Frankfurt-listed IT giant Software AG has selected CB Richard Ellis (CBRE) to provide planning, consulting, transaction management and brokerage services for the company's property portfolio in 50 countries as well as aiding future business expansion.
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PropertyEU Archive
ECC Invest enters Poland with fund launch
ECC Invest, part of the Dutch ECC Group, has said it is launching a new fund that will invest in two residential projects in Poland. The new investment vehicle, ECC Polish residential Fund I, will offer professional investors the opportunity to participate in two large scale developments in Warsaw and ...
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PropertyEU Archive
Pirelli Pekao to build new complex in Warsaw
Pirelli Real Estate's Polish joint venture Pirelli Pekao RE plans to develop a new 150,000 m[sup]2[/sup] residential and commercial complex in Warsaw. Pirelli Pekao, in which Pirelli holds a 75% stake and Unicredit's Bank Pekao unit controls the other 25%, said that the first phase of the development will include ...
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PropertyEU Archive
European hotels see Q1 drop in occupancy and profits - TRI Hospitality
The majority of Europe's hotels have experienced lower occupancy and profits so far this year, according to TRI Hospitality's March HotStats report. Of the ten cities surveyed, eight experienced a decrease in profits while six cities had lower occupancy. The sharpest occupancy drop occurred in Warsaw, which saw a first ...
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PropertyEU Archive
Testa appoints C&W, JLL to market SYV tower in Madrid
Sacyr Vallehermoso (SyV)'s real estate subsidiary Testa has appointed Cushman & Wakefield and Jones Lang LaSalle to market the office space within the 236 metre high skyscraper it is developing in Madrid's Four Towers Business Area (CTBA). Sacyr is carrying out the work on the tower which will feature a ...
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PropertyEU Archive
GPR 250 Europe Index sees slight improvement in April
European real estate stocks showed a negative performance in the month of April according to the GPR 250 Europe Index. Global Property Research (GPR) reported an overall dip of 0.7% for European property stocks, which, however, represents a slight improvement compared to the 1.6% return reported in March 2008 by ...
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PropertyEU Archive
Icade, ING RE sign three contracts with IVG in France
Icade and ING Real Estate said on Monday that they have signed contracts with IVG to develop three buildings within the new Claude Bernard business park in the 19th arrondissement of Paris. The contracts are for the construction of 40,000 m[sup]2[/sup] of office space across three properties. Two of the ...
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PropertyEU Archive
Transfesa to invest EUR 17m in new UK facility
Spanish logistics group Transfesa is investing £13.4mln (EUR 17mln) in the development of a new distribution centre in the British town of Kent. Global property and construction consultant Rider Levett Bucknall has been appointed to provide project-monitoring services on the property. The Spanish firm plans to redevelop an existing brownfield ...
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PropertyEU Archive
Unite receives go-ahead for two student housing schemes
UK student housing company Unite Group has said it has secured planning permission for two developments in the university cities of Oxford and Edinburgh. Overall investment for the two schemes, which comprise a total of 604 student beds, will amount to roughly £57mln (EUR 73mln).
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PropertyEU Archive
Orpea to spin off part of EUR 1.2bn portfolio
French nursing home group Orpea said it plans to outsource part of its real estate portfolio in the second half of 2008. The company said it is considering different options, including the sale-and-leaseback of some of its development assets to one or more investors, and the direct sale of a ...
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PropertyEU Archive
Irish commercial property tumbles: IPD
The total return of the IPD Irish Quarterly Index came in at -2.3% in the first quarter of 2008, the worst return in the index history which dates back to the start of 1995. Moreover, this quarter's negative growth brings to a close 23 straight quarters of positive performance, IPD ...
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PropertyEU Archive
Invista, Propinvest JV sells French assets for EUR 170m
Invista Real Estate Investment Management said on Friday that Celsius, its 50-50 joint venture with Propinvest, has completed the sale of a property portfolio in France to real estate firm Clerical Medical for about EUR 170mln. The transaction amount consists of EUR 168mln in cash and EUR 2mln in assumed ...
