Latest reports – Page 3513
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PropertyEU Archive
Land Securities, Places for People form strategic JV
Land Securities and Places for People have announced the formation of a 50-50 joint venture to acquire some 971 hectares (2,400 acres) in the UK. The land, which is to the north of Harlow, will be developed to help meet housing and employment needs over the next 25 years.
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PropertyEU Archive
Irish real estate shows signs of slowing
Conditions in the Irish commercial property market have weakened in recent months, primarily due to a scarcity of funding, according to the latest report from property consultants, CB Richard Ellis. According to the May Bi-Monthly report there has been a marked decline in transactions in the investment and development sectors ...
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PropertyEU Archive
AMB acquires 86,000m[sup]2[/sup] industrial complex near Hamburg
Industrial real estate firm, AMB Property Corporation announced that is has acquired an industrial complex near the Port of Hamburg comprising some 86,400 m[sup]2[/sup] of existing buildings and 16 acres of land capable of supporting 38,400 m[sup]2[/sup] of additional development. The industrial complex was acquired from a leading international company ...
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PropertyEU Archive
SEB posts a 42% drop in Q1 operating results
Swedish financial company SEB, parent of Germany's SEB Immobilien-Investment Gesellschaft, on Wednesday reported a 42% drop in operating result in its first interim report for 2008 . The company said operating results for the first quarter of 2008 amounted to SEK 2.410bn (EUR 258mln), a decrease of 42% compared with ...
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PropertyEU Archive
KBC purchases EUR 128m office building in the City of London
European banking group KBC Group has acquired an office property in Old Broad Street in the City of London from UK pension provider Aegon Scottish Equitable. The 11,355 m[sup]2[/sup] property was sold for £ 101.5mln (EUR 128.5mln) and reflects a net yield of 5.5%. KBC was advised by Drivers Jonas.
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PropertyEU Archive
Risk consultancy seals 15-yr lease at SL's Exchange Crescent
Edinburgh-based risk consultancy Barrie & Hibbert has struck a 15-year deal with Standard Life to lease 914 m[sup]2[/sup] of space at the Edinburgh's Exchange Crescent. The lease, for a ground floor suite on Conference Square, reflects a rental of £ 27 per sq ft (EUR 368 per m2). The ...
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PropertyEU Archive
Generali tipped to manage EUR 1b Banco Popolare fund
Generali Property Investments, the property asset management unit of Italian insurer Generali, said it has been chosen to set up and manage an EUR 1bn property fund for Italian lender Banco Popolare. The fund, which will be placed later this year with Italian and foreign institutional investors, will have a ...
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PropertyEU Archive
Skanska sells retail park project in Burlov
Swedish construction group Skanska said it has sold four retail warehouses at the Stora Bernstorp retail park in Burlöv outside Malmo to an unnamed German investment fund for an undisclosed sum. Construction of the 37,000 m[sup]2[/sup] project, which is divided into four stages, was started in autumn 2007 and occupancy ...
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News
Swiss property exposure hits all-time high
SWITZERLAND– Swiss pension funds increased their average real estate allocation by 1.48 percentage points to a new record high of 17.2% over the lastquarter, despite the continuing financial crisis, the Credit SuissePensionskassenindex shows.
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PropertyEU Archive
GPT Halverton acquires French offices
Real estate investment manager GPT Halverton has acquired two fully let office properties in France’s Nantes region for approximately EUR 14mln. Nantes Chanterie is a multi-let office complex of two connected buildings comprising 6,500 m[sup]2[/sup] located 1 kilometre away from the A11 motorway connecting Nantes, Angers and Paris and 24 ...
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PropertyEU Archive
Norwegian Property agrees to sell non-core office properties
Norwegian Property said that it has entered into agreements with several parties to sell its non-core office properties valued at NOK 1.4bn (EUR 175mln) and added that talks with potential buyers are continuing regarding the sale of its hotel portfolio in the Nordic region. During the presentation of its first ...
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PropertyEU Archive
Savills brokers $312m deal in Beijing
Global property consultant Savills said on Tuesday it has brokered a $ 312mln (EUR 200mln) investment deal in Beijing. This is the largest transaction closed by an international agency in mainland China to date, according to Savills.
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PropertyEU Archive
Dawnay, Day Carpathian funds approach full investment
AIM-listed property investment company Dawnay, Day Carpathian (DDC) said that it has spent or committed approximately 95% of its funds in its target areas in Central and Eastern Europe as its announced an 8% increase in its net asset value per share in 2007. The company also said its ...
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PropertyEU Archive
Hypo RE provides EUR 53m financing to Custom House Capital
Hypo Real Estate Bank International said on Tuesday that it has provided EUR 53mln of investment financing for the acquisition of the Maximillian retail centre in Worth, Germany. The Maximillian Retail Centre consists of a single storey shopping centre and an adjoining Globus DIY store. It was opened in November ...
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PropertyEU Archive
Sacyr Vallehermoso postpones Itinere IPO
Spanish construction and services group Sacyr Vallehermoso said on late Monday that it is postponing the planned initial public offering (IPO) of its toll road business as 'the current market conditions do not allow to complete the operation'.
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PropertyEU Archive
British Land proposes £ 160m tower for Birmingham
UK property company British Land has submitted plans for a 35-storey office tower in the centre of Birmingham, UK. The new development should replace the existing smaller NatWest structure if the city council gives the go-ahead to the new £ 160mln (EUR 203mln) scheme. 'We believe we have designed not ...
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PropertyEU Archive
Prologis begins construction of distribution park near Tokyo
Logistics provider Prologis said it has begun construction on the first phase of a major new distribution park near Tokyo. Prologis Parc Zama I will be a five-storey, 113,000 m[sup]2[/sup] facility located in the prospering logistics hub city of Zama, about 40 kilometres from Tokyo's city-centre. At full build-out Parc ...
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PropertyEU Archive
Warimpex revenues rise 38% in 2007
Vienna and Warsaw-listed hotel developer and investor Warimpex said its revenues jumped 38% to EUR 81.2mln in 2007, as it predicted a 10-25% rise this year. Among other 2007 figures announced Monday, Warimpex pointed to a nearly 400% gain from the sales of project companies and a 67% rise in ...
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PropertyEU Archive
Bouygues Immobilier sells 3 Portuguese projects for EUR 70m
French construction group Bouygues Immobilier said on Tuesday it has sold three commercial real estate projects in Portugal to Pramerica Real Estate for EUR 70mln. The developments consist of the Portimao retail center in Algarve and two office buildings located in the centre of Lisbon’s Parc des Nations. Designed by ...
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PropertyEU Archive
Whitbread to boost its hotel and coffee shop business
UK restaurant chain Whitbread said it plans to boost its Costa coffee shop and hotel business in the next five years as it reported record profit before tax of £ 210.3mln (EUR 266.4mln) in 2007, up 26.3% on 2006's figure. Whitbread CEO Alan Parker said the company would increase the ...
