Latest reports – Page 3527
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PropertyEU Archive
Rider Levett oversees £30m refurbishment for UK pub operator Young’s
Property and construction consultancy Rider Levett Bucknall said it has been appointed to manage a £30 mln (EUR 38mln), three-year refurbishment programme at Young's, the oldest brewer in the UK. Young's has earmarked 18 of its 'inns with rooms' sites, each which will have extensions to accommodate between 15 and ...
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PropertyEU Archive
Universal Exposition to boost Milan developments
Milan has been was chosen to host the 2015 Universal Exposition, a victory expected not only to lead to new architectural and infrastructure projects but also give a push to a number of high-profile developments already underway in Italy's finance and fashion capital.
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PropertyEU Archive
WDP acquires logistics sites in Belgium and France
Warehouses De Pauw (WDP) has acquired two logistics sites in northern France and Belgium through sales-and-leaseback transactions for a combined investment of EUR 21mln. The Belgian closed-end real estate investment company said it has also reached agreements with new tenants for two other projects under development.
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PropertyEU Archive
Sistema-Hals to sell Moscow project
Russian property group Sistema-Hals has announced the sale of its 22 Rochdelskaya project in central Moscow. The company said that the move is part of its ongoing asset management strategy. 'Detailed analysis of the development pipeline indicates that it would be more cost effective to invest the funds received from ...
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PropertyEU Archive
Multi chosen for EUR 170m retail project in Portugal
Multi Development Portugal and Portuguese construction group Lena have been chosen to design, finance, build and manage a major retail development in the city of Leiria, Portugal. The consortium was chosen by the town council following an international tender process.
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PropertyEU Archive
Poland's investment market posts 40% drop in 2007
Property investment dropped by 40% in Poland last year to EUR3bn, according to a new research report released by King Sturge on Friday. Activity was lower due to the credit crunch, with banks more hesitant to provide financing than that in previous years and requiring reduced loan-to-values and higher margins, ...
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PropertyEU Archive
Fidelity buys German property
Fidelity International said its Pan-European Real Estate Fund has made its first investment in Germany with the acquisition of a Munich office building for EUR 17.85mln. Fidelity said the purchase price for the building, which is fully let to Olympus Life Science Research Europa, reflects a yield of 5.9%. The ...
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PropertyEU Archive
Delta purchases Belgrade hotel, other properties for EUR 149m
NBGP Properties, a subsidiary of Serbian property firm Delta Real Estate, said it has purchased the Hotel Continental and other properties owned by International CG (Genex) in Belgrade for EUR 148.8 mln through a public tender. Properties purchased include the hotel, along with apartments, business facilities and tennis courts comprising ...
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PropertyEU Archive
Nozar, Portillo to sell Colonial stakes to creditors
Nozar, the investment vehicle of the Nozaleda family, is selling a 7% stake in Colonial to the banks of the troubled Spanish company. Nozar, which has a 12.25% stake in Colonial, is selling the assets to cut down a EUR 460 mln of debt it holds with Natixis, RBS, Gaesco, ...
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News
US REITs see turnaround
US – Real Estate Investment Trusts may be staging an investment comeback and breaking out of the trough they were stuck in for the last three quarters of 2007, suggest figures released by the National Association of Real Estate Investment Trusts (NAREIT).
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News
Financial crisis will affect 2008 result – IVG
GERMANY – While real estate asset manager IVG and some of its competitors reported record earnings for 2007, the companies there will fear the financial crisis will have a major impact on this year's results.
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News
Arkansas Teachers takes real estate to 10%
UNITED STATES – The Arkansas Teacher Retirement System has approved a new target for estate investments that is almost twice as much as the previous allocation.
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News
Morgan Stanley to create real estate FoFs
UNITED STATES - Morgan Stanley Investment Management has formed a fund of funds (FoFs) business in real estate.
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News
New Jersey commits to high return fund
UNITED STATES - New Jersey Division of Investment has approved a $100m (€64.1m) commitment to the Lehman Brothers Real Estate Partners III commingled fund.
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News
San Diego City expands its international focus
UNITED STATES - San Diego City Employees’ Retirement System is growing its international real estate investment program by investing in a commingled fund and moving its domestic REIT program to a global stage.
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News
Ohio Police & Fire invest $162m in real estate
UNITED STATES - Ohio Police & Fire pension fund has approved a real estate strategy to invest $162m (€103.8m) in the asset class for 2008.
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PropertyEU Archive
Unibail-Rodamco eyes growth in Russian market
French-Dutch property giant Unibail-Rodamco is seeking to build up mass in the retail property sector in Moscow by putting together a portfolio of 3-4 shopping centres in the city, CEO Guillaume Poitrinal told journalists in Paris on Wednesday. Noting that the property fundamentals are sound in the Russian capital, Guillaume ...
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PropertyEU Archive
IPD: Swedish residential property performance plummets
The Investment Property Databank (IPD) has said that total returns in its 2007 Swedish Residential Property Index posted a massive 5.7% drop in 2007, falling to 9.4% from 15.1% in 2006. The index underperformed the commercial property market, which returned 14.9% for the year, but outperformed Equities and Bonds in ...
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PropertyEU Archive
Unite's student residential fund NAV dips 1.8% in Q1
UK property firm Unite Group said the estimated net asset value of its UNITE UK Student Accommodation Fund fell by 1.8% in the first quarter of 2008. The funds NAV stood at £1.002 on 31 March, down from GBP1.020 at end-2007.This valuation is the result of an independent valuation ...
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PropertyEU Archive
ECE to build Volga Mall in Russia
ECE Projektmanagement, the German inner-city shopping centre specialist, has announced it is to build a modern shopping centre, comprising 60,000 m[sup]2[/sup] of gross lettable area, in the Russian city of Togliatti in the.
