Latest reports – Page 3524
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News
Texas Teachers applies $600m to non-core property
UNITED STATES - Teacher Retirement System of Texas approved $600m (€382.1m) of new real estate commitments in March to non-core real estate commingled funds.
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PropertyEU Archive
Skanska to build major London office
Swedish construction group Skanska has been contracted by UK developer Minerva to build a large office building in the City of London for £150 mln (EUR 187mln). The St Botolphs project involves a new 14-storey office and retail development that will provide approximately 52,000 m[sup]2[/sup] of high-quality accommodation. The project ...
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PropertyEU Archive
New Europe Property shops in Germany
Listed CEE property investor New Europe Property Investments has purchased 50% of a portfolio comprising four retail centres, a medical office facility and a mixed-use retail and residential property from an unnamed seller. The transaction amount comes to EUR 17mln, net of acquisition costs and including EUR15mln of debt. The ...
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PropertyEU Archive
SLI signs agreement with Nordea Group in the Nordics
Standard Life Investments (SLI) has signed an agreement with Nordea, one of the biggest financial groups in the Nordic and Baltic regions, to distribute its Global REIT Focus Fund across the region. The Global REIT Focus Fund (SICAV) invests largely in real estate investment trusts (REITs) or securities and companies ...
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PropertyEU Archive
Savills steps up presence in Poland
Property consultant Savills has expanded its presence in Poland with the opening of new offices in the cities of Poznan and Wroclaw. The offices will comprise office agency and property management teams, who will be working on their first assignments in each of the cities. 'Wroclaw and Poznan are two ...
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PropertyEU Archive
C&W to market new building at Moscow's WTC
Cushman & Wakefield's Russian office has been retained as exclusive marketing and leasing agent for a new Class A office development that is part of Moscow's World Trade Center business complex. The developer of the complex's third office building is also called World Trade Center. The 29-floor building has a ...
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PropertyEU Archive
Citi Property Investors acquires Brixton Park
Citi Property Investors (CPI), through a Luxembourg SPV (special purpose vehicle), has acquired three logistics properties known as Brixton Park from Deka Immobilien for a 'middle-sized double-digit million figure'. The assets previously belonged to the open-ended public fund WestInvest I. Colliers Trombello Kölbel Immobilienconsulting advised the purchaser.
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PropertyEU Archive
Park Plaza buys stake in Croatian hotel owner
Hotel owner and operator Park Plaza has acquired a 20% stake in hospitality firm WM/DMREF Bora B.V. (Bora) from a group of real estate investment funds managed by Goldman Sachs. The takeover sum comes to EUR 22mln. As part of the transaction, Park Plaza is also acquiring 20% of the ...
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PropertyEU Archive
UniCredit agrees to sell 186 branches for EUR 747m
Italian bank UniCredit has agreed to sell 186 branches to a consortium led by Banca Popolare di Milano (BPM) for EUR 747mln, according to Italian newspaper Il Sole 24 Ore. BPM is acquiring 42 branches for about EUR 200mln, while other two banks, Banca Popolare dell'Emilia Romagna and Credito Emiliano, ...
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PropertyEU Archive
UK Development Agency mulls launch of £1b fund
The East of England Development Agency (EEDA) is considering launching a £ 1bn infrastructure fund to accelerate the delivery of projects in the region. In a statement, EEDA said it has commissioned a team of consultants, led by Colin Buchanan and Hewdon Consulting, to work up options for the ...
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PropertyEU Archive
Colonial renegotiates EUR 1.55bn debt
Spain's Colonial said it is trying to renegotiate the conditions of EUR 1.55 bn in debt the company assumed when it acquired a stake in infrastructure firm Fomento de Construcciones y Contratas (FCC). In a filing with the Spanish stock market regulator CNMV, the debt-laden property company said that FCC's ...
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PropertyEU Archive
Bank of Scotland buys into Tulloch Homes
Bank of Scotland Corporate, part of HBOS, has acquired a 40% stake in Tulloch Homes Group in a deal worth £27.5mln (EUR 34mln). Following the transaction, Tulloch's chairman and chief executive David Sutherland will remain the company's largest shareholder with a 43% interest. 'The deal represents a significant development in ...
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PropertyEU Archive
AFI to build two shopping malls in Moscow
AFI Development said it is developing two new shopping centres in Moscow - Mall of Russia and Tverskaya Mall. The projects, totalling retail space of 300,000 m2, consist of a five-level shopping and entertainment complex, located in the centre of the Moscow International Business Center, and the Tverskaya retail complex, ...
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PropertyEU Archive
Standard Life sells to Middle Eastern investor
A private Middle Eastern investor has purchased 55 New Oxford Street in London from Standard Life for £35.5mln (EUR 44mln), reflecting a net initial yield of 6.09%. The property was originally marketed in November at £43.2mln.
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PropertyEU Archive
Cordea Savills fund acquires office in Finland
Cordea Savills' Pan European Property Fund has acquired a 12,000 m[sup]2[/sup] office building in Finland for an undisclosed amount. The building, located in the city of Hyvinkaa, north of Helsinki, is entirely let to Finnish electric group Elektroskandia OY. The transaction reflects a net initial yield of 8,2%.
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PropertyEU Archive
HSH provides EUR 205m financing for Hamburg mall
North German lender HSH Nordbank said it is providing EUR 205mln to a joint venture between ECE Group and Hermann Friedrich Bruhn Group to finance the acquisition and restructuring of the Hamburger Strasse shopping mall in Hamburg-Barmbek.
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PropertyEU Archive
Sacyr sells 33% stake in Eiffage
Spanish construction company Sacyr Vallehermoso has agreed to sell its one-third stake in French rival Eiffage to local institutional investors for EUR 1.96bn, or EUR 63 per share. The sale, which ends a year-long battle for control of Eiffage, will be completed 'as soon as possible', Sacyr said in a ...
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PropertyEU Archive
Ikea to invest EUR170m in first Portuguese mall
Inter Ikea Centre Portugal (IICPT), part of the Ikea Group, will invest up to EUR 170mln in the development of the Matosinhos shopping centre in Porto, Portugal. The retail project, scheduled to open in the third quarter of 2008, will offer more than 100,000 m[sup]2[/sup] of retail area on two ...
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PropertyEU Archive
Jelmoli unveils break-up plan
Swiss retailer Jelmoli announced on Tuesday that it intends to split the company's real estate and investment businesses into two independently listed companies. Jelmoli said the separation is a result of the company's strategic review announced in December. 'We have undertaken a thorough strategic review of our business and, together ...
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PropertyEU Archive
Eric Donnet to head AEW Europe
AEW Europe, the property arm of Natixis Global Asset Management, said on Wednesday that it has appointed Eric Donnet as managing director and chief operating officer. Donnet has been head of asset management at AEW Europe since 2005.
