Latest reports – Page 3516
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PropertyEU Archive
CB Richard Ellis joins Fortune 500
CB Richard Ellis Group has become the first commercial real estate services firm to be added to the Fortune 500 list of the largest American companies. The property adviser debuts at number 404 in the 2008 list.
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PropertyEU Archive
L&S signs £ 200m JV with Middle-East investor
AIM-listed property investment company London & Stamford (L&S) said on Thursday that it has signed a new £ 200mln (EUR 251mln) joint venture agreement with Cavendish, a wholly-owned subsidiary of a Gulf sovereign wealth investor. Under the new agreement, Cavendish will provide co-investment funds of an initial £ 200mln to ...
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PropertyEU Archive
Immoeast acquires 50% of CEE residential developer
CEE developer and investor Immoeast has acquired a 50% stake in Caterata, a residential developer in the South Eastern and Central Eastern European (SEE-CEE) markets. Tel Aviv-listed New Horizon Real Estate Group, the former sole owner, retained the other 50%. An Immoeast spokesperson told PropertyEU on Thursday that the two ...
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PropertyEU Archive
European non-listed real estate funds struggle to place capital
European non-listed real estate funds had trouble investing the equity they raised last year, according to the latest annual capital raising survey of Inrev, the association of non-listed real estate funds. In 2007, non-listed real estate funds drew on 69% of the capital raised that year compared with 90% in ...
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PropertyEU Archive
Non-listed real estate fund returns fall sharply in 2007
Investment returns from European non-listed real estate funds fell to -3.9% in 2007 compared with 21% in 2006. The dramatic decline is due to the euro increasing in strength against the dollar and sterling as well as a poor performance from the UK market for non-listed real estate funds, ...
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PropertyEU Archive
Spazio Investment buys Milan office
London-listed Spazio Investment has acquired a new office building in Milan from Italian developer Pasini Group for EUR 27.5mln. The acquisition was made through Spazio's Italian fund Spazio Industriale. Located in Sesto San Giovanni, near Milan, the new 13,100 m[sup]2[/sup] building has been developed over the last 18 months within ...
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PropertyEU Archive
Gordon Keiser appointed new CEO of ProLogis European Properties
Logistics provider ProLogis European Properties has appointed Gordon Keiser as its new chief executive officer, effective June 1, 2008. Keiser, who will be based in London, will replace Robert Watson, who is returning to the United States as ProLogis' Chief Sustainability Officer to head its global sustainability initiative. Chairman Jeffrey ...
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PropertyEU Archive
KanAm fund shops in Paris
Frankfurt-based investment company KanAm Grund said on Thursday that its Spezial grundin-vest Fonds has acquired an office building in Paris for EUR 67.5mln. The Le Dionys office building, located in the Saint-Denis southern suburbs of Paris, is the second French acquisition by KanAm in the last months, following the purchase ...
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PropertyEU Archive
Bouwfonds buys three German assets
Bouwfonds Asset Management and Catella Germany on Thursday announced the acquisition of three assets in Germany for the pan-European residential fund Bouwfonds European Residential Fund. The transaction involves a total of around EUR 44mln. Located in Munich, Frankfurt and Kiel, the assets include 195 units of apartments and townhouses, as ...
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PropertyEU Archive
GE RE buys EUR 1.3bn of commercial property loans
GE Real Estate said on Wednesday that it has acquired a EUR 1.27bn portfolio of Senior and Whole commercial property loans from Capmark Europe. The portfolio comprises 39 loans to a group of high quality borrowers and with attractive loan-to-values, the company said. The assets are spread throughout Europe, with ...
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PropertyEU Archive
Investment in French commercial property halves in Q1
The French market saw a total EUR 3.7 bn of investment in commercial real estate during the first quarter of 2008, about half the amount that was invested in the same period a year ago, according to a report released by real estate adviser CB Richard Ellis. The slowdown which ...
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PropertyEU Archive
Gecina considers share split
French property group Gecina is considering the distribution of free shares to shareholders and the implementation of a split in the nominal value of the share. The French property company which is the process of splitting up from Spanish firm Metrovecasa is looking at new ways of increasing value for ...
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PropertyEU Archive
HIH targets EUR 700m investments in 2008
Warburg-Henderson's asset manager HIH Hamburgischer Immobilien Handlung said it is planning investments to the tune of some EUR 700mln in 2008 after booking transactions worth EUR 50mln in the first quarter of the year. The acquisitions were made on behalf of two Wawrburg-Henderson funds.
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PropertyEU Archive
Beni Stabili Q1 operating profit up 3.4%
Italian real estate company Beni Stabili on Tuesday reported a 3.4% increase in operating profit to EUR 44mln in the first quarter of 2008, up from EUR 43mln in the year-earlier period. The company attributed the increase to purchases completed in 2007 which generated a 3.5% rise in the margin ...
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PropertyEU Archive
Redevco to apply sustainability standards to EUR 1.8bn pipeline
Amsterdam-based property group Redevco has committed itself to codified sustainability standards for its EUR 1.8bn pipeline of retail development projects across Europe. Jaap Gillis, Redevco's chief operating officer and chairman of the International Shopping Center Council (ICSC) Europe, is one of the main voices in the industry calling on developers ...
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PropertyEU Archive
Russia signs EUR 49m finance facility for Russian logistics plant
AIM-listed Raven Russia said that is has signed a EUR 49mln construction facility agreement with German bank HSH Nordbank. The facility will be used to finance the first phase comprising some 110,000 m[sup]2[/sup] of the 275,000 m[sup]2[/sup] Noginsk logistics project in Eastern Moscow.
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PropertyEU Archive
Generali, Pirelli RE mull stake in new MPS property unit
Italy's Generali Group and Pirelli Real Estate are interested in purchasing a stake in a new property company that Italian bank Monte Paschi di Siena (MPS) is setting up to manage its real estate portfolio, Italian news agency ANSA reported, without quoting sources.
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PropertyEU Archive
Henderson to proceed with largest UK property deal of 2008
London-headquartered Henderson Global Investors (HGI) has been given the go-ahead to proceed with the purchase of a portfolio of designer factory outlets for about £ 380mln (EUR 475mln) in what would be the largest UK property deal of the year, the Financial Times reported.
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PropertyEU Archive
Meag fund sells in the Netherlands
German fund manager Munich Ergo Asset Management (Meag) has sold a portfolio consisting of six commercial properties in the Netherlands to Dutch privately-owned asset manager Solidiam. The portfolio provides a total 60,000 m[sup]2[/sup] of space leased to about 20 tenants. The financial details of the transaction were not disclosed.
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PropertyEU Archive
Portugal's Imocom to launch luxury hotel resort in Algarve
Portuguese property group Imocom will start the development in April of a six-star hotel and residential resort in Portugal's Algarve coastal region. The Palacio da Quinta scheme will consist of a six-star hotel, including private jet and yacht charter, 80 luxurious apartments and penthouses set within 17 acres of ...
