Latest reports – Page 3525
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PropertyEU Archive
C&W acquires alliance partner in Turkey
Cushman & Wakefield has acquired its alliance partner in Turkey, P&D Real Estate Consultants, as part of the global property adviser's European expansion. Istanbul-based P&D was founded in 1988 and became C&W's partner in the Turkish market three years later. P&D's managing director Rahsan Cebe will become a partner of ...
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PropertyEU Archive
Commerz Real invests in Portugal
Commerzbank's fully-owned real estate unit Commerz Real has bought an office property in Lisbon for EUR 20mln. The 'Studio Office Marquês de Pombal' building is earmarked for Commerz Real's ProCommerz institutional fund. The downtown property offers a net lettable area of 4,500 m[sup]2[/sup] plus 57 underground parking spaces. Completely refurbished ...
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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
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
Miller sees profit fall 7% in 2007
UK house builder Miller Group said on Wednesday that group profit before tax dropped 7% in 2007 to £81.2mln, due to lower housing volumes, higher average borrowings and increased debt charges. This resulted in the interest cost being 15% higher than last year, Miller said in a statement. In the ...
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PropertyEU Archive
Russian investor buys Austrian hotel chain AHC
Central European Hotel Investment Company (CEHI), an investment vehicle owned by Russian private investor Alexander Klyachin, has acquired hotel chain Austrian Hotel Company (AHC) for an undisclosed amount. The chain comprises 20 three- and four-star hotels in 17 cities in Austria, Germany and the Czech Republic. The acquisition is in ...
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PropertyEU Archive
Commerz Real expands French portfolio with two acquisitions
Dusseldorf-based Commerz Real, a subsidiary of Commerzbank, has acquired the office complexes Ar Mor Plaza in St Herblain near Nantes and Parc Cezanne 1 in Aix-en-Provence for a total amount of EUR 50 mln from French real estate company Groupe Lazard. The two modern office complexes will be added to ...
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PropertyEU Archive
Orco to build Croatian island tourist resort
Orco Property Group, through its subsidiary Suncani Hvar, has signed an agreement to develop the Objonan Riviera project. As the only island in Croatia fully dedicated to the construction of a new resort, the 54-hectare Objonan will provide Orco with the site of a full-fledged resort to be developed on ...
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PropertyEU Archive
Lazard Group sells three offices for EUR 72m
UFG has acquired three office developments from the Lazard Group for a total EUR 72 mln, French newspaper Business Immo reported. The projects are the Carnot Plaza development, which on completion will provide about 8,400 m[sup]2[/sup] of office space in Massy, near Paris, another 7,500 m[sup]2[/sup] of office space in ...
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PropertyEU Archive
IPD: Spanish property performance slows
IPD said its Spanish Property Index showed a total return on All Property of 12.5% for 2007, lower than the 2006 return of 16.9%. However, property still outperformed the equity and bond markets in 2007, which returned 10.7% and 1.7% respectively. All Property income returns fell to 4.8% in 2007, ...
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PropertyEU Archive
Vastned Retail resumes talks with IEF Capital
Vastned Retail said on Tuesday that its management board has decided to resume discussions with IEF Capital on the basis of the indicative bid of at least EUR 70 per share, after final dividend for 2007. In a statement, Vastned said that it will be in 'exclusive talks' with IEF ...
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PropertyEU Archive
Letterstone and Starr set up EUR 1bn CEE investment fund
London-based fund manager Letterstone Group and private investment company Starr International have established a new European company to invest up to EUR 1bn in real estate developments in Hungary, Slovakia and Romania. The vehicle will also invest in Ukraine at a later stage.
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PropertyEU Archive
NB launches sustainable property management services
Commercial property consultancy NB Real Estate has responded to the demand for Energy Performance Certificates (EPCs) by launching NB Environment to develop sustainable property management plans and environmental policies for investors and corporate occupiers. Among the services provided by NB Environment are a response to the requirement for Energy Performance ...
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PropertyEU Archive
Whitbread to open six new Premier Inns in London
Whitbread, the UK's largest hotel and restaurant group, has unveiled an expansion plan for its Premier Inn brand that will see six hotels opened in London over the next three years. The hotels will comprise a total of 1,200 rooms and investment will be £ 100 mln (EUR 125.5 mln).
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PropertyEU Archive
Renta Corporación sells Paris office for EUR 30m
Spanish property company Renta Corporación has sold one building in the centre of Paris to an unnamed Dutch fund. The transaction amount comes to between EUR 25 - 30 mln, Spanish newspaper Cinco Dias reported. The Paris asset provides a total 3,000 m[sup]2[/sup] of office space spread across five storeys ...
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PropertyEU Archive
SLI fund enters Italy with warehouse buy
Standard Life Investments (SLI) has entered the Italian market with the acquisition of a 104,000 m[sup]2[/sup] logistics warehouse development at Rolo in Northern Italy. The property investor said it has joined forces with Panattoni Europe to acquire the development, which has a total end value of more than EUR 567 ...
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News
Finnish PFs invest in Portuguese retail
FINLAND/PORTGUAL - Finnish investors, including the €24.3bn Local Government Pensions Institution and pension insurer Ilmarinen, are among the reference investors in a Portuguese shopping centre fund.
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News
Teeside "may up allocation"
UK - Teesside Pension Fund is mulling an increase to its real estate allocation as it has issued a tender for the management of its £95m (€120m) directly-held UK portfolio.
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News
European capital shifts to Bavaria
GERMANY - Fidelity is shifting its pan-European real estate operations to Munich, in an expression of confidence in the recovering German property market.
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News
Pension funds are "comfortable" with global investment
GLOBAL - Pension funds are increasingly comfortable investing in overseas markets they see as subject to increasingly global standards of transparency, according to Standard Life Investments.
