Latest reports – Page 3529
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PropertyEU Archive
Deka buys London office for £113m
Deka Immobilien, the property arm of Germany's Deka Bank, has acquired 50 Finsbury Square, London from Standard Life Investments for approximately £113mln (EUR 143mln), reflecting a net initial yield of around 5.5%. The acquisition was Deka's first in the UK for almost three years.
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PropertyEU Archive
Prologis to apply BREEAM standard in UK
Prologis announced on Tuesday that all its new facilities in the UK will have to achieve a minimum rating of 'very good' under the BRE Environmental Assessment Method (BREEAM), the UK's national standard for best practice in sustainable development and environmental performance.
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PropertyEU Archive
Grainger gains liquidity through new debt facility
UK-based residential property owner Grainger has announced the injection of additional liquidity in its core UK debt portfolio through the raising of a £228mln (EUR 287mln) five-year revolving credit facility. The group's debt now averages a five-year maturity, with the main facility averaging four years. The main facility's first refinancing ...
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PropertyEU Archive
Commerz Real acquires office development in France
German property investor Commerz Real has signed a deed of purchase for the Porte de Clichy office development in the Ile de France region of France. The total investment volume amounts to EUR 87mln.
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PropertyEU Archive
Minsk property market on the upswing - Colliers
The office market is at the forefront of rising demand in the commercial real estate market in Minsk. Colliers International has predicted the office supply in the capital of Belarus will triple in 2008 -2009, bringing total office space from 92,200 m[sup]2[/sup] to 325,350 m[sup]2[/sup]. At the end of 2007 ...
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PropertyEU Archive
Lone Star agrees EUR 1bn leaseback deal with Deutsche Post
US investor Lone Star has reached an agreement to buy a portfolio of 1,300 real estate assets from Deutsche Post World Net in a cash transaction worth EUR 1bn. Most of the assets are in Germany. Deutsche Post World Net said it was divesting the real estate assets as part ...
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News
PREA delegates call the real estate recession
GLOBAL - It will take around 18 months for capital markets in commercial real estate to return to normal – that was the consensus among the more than 700 delegates attending the PREA Spring Conference in Boston last week.
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News
BP pension fund signs central London JV
UK – BP’s UK pension fund has launched a joint venture that will give the £13.8bn (€19bn) scheme access to central London assets as part of a broader drive to increase its exposure to property.
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News
Logistics remains strong, except in UK
EUROPE - Logistics is still outperforming other European sectors despite a 12% fall in direct investment last year compared with 2006.
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News
Asia gains local real estate education
ASIA - The Asian Public Real Estate Association (APREA), which represents the listed sector, has launched a certification programme for regional real estate investors.
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News
Aberdeen pulls out of Swedish retail
SWEDEN - Aberdeen has radically reduced its exposure to Swedish retail, just weeks after the 2007 Swedish Annual Property Index claimed it as the year’s top-performing sector.
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News
Latecomer Swede enters Finnish market
FINLAND - The German fund management arm of Swedish bank SEB has acquired the first Finnish asset for its ImmoInvest open-ended fund, in a €23m deal for an airport-city office block outside Helsinki.
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PropertyEU Archive
Herpain Urbis sells the Solaris in Brussels
Herpain Urbis has sold the Solaris in Brussels to Fidentia Real Estate Investments’ specialised investments vehicle Fidentia Green Buildings. CB Richard Ellis (CBRE) advised the vendors. The Solaris represents a new trend in sustainable building. Designed by architectural firm Assar, the building is scheduled for completion in the first ...
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PropertyEU Archive
Risanamento puts EUR 1b portfolio on market
Italy's leading property company Risanamento is putting a EUR 1 bn property portfolio up for sale as it struggles to refinance its debt. The property firm, which is headed by Luigi Zunino, has appointed banks Intesa Sanpaolo and Mediobanca to sell its trading portfolio consisting of 30 commercial assets in ...
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PropertyEU Archive
XXI Century opens Kiev shopping centre
AIM-listed Ukrainian property company XXI Century Investments has announced the opening of its Kvadrat Perova shopping centre in the densely populated Kiev district of Voskresenka. Consisting of 19,000 m[sup]2[/sup] of commercial space and 41,000 m[sup]2[/sup] total area Kvadrat Perova is the company's first completed hypermarket gallery format shopping and entertainment ...
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PropertyEU Archive
Commerz Real buys Amsterdam property from Fortress
German real estate investor Commerz Real signed the deed for the purchase of De West development in Amsterdam from Dutch project developer Fortress. Once completed in the latter part of this year, the 11,000 m[sup]2[/sup] multi-functional office property will be added to the portfolio of the Euro Property 1 institutional ...
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PropertyEU Archive
IVG Funds acquires office park near Helsinki
IVG Institutional Funds has acquired the Avia Line office park development in the Vantaa Aviapolis area, near Helsinki airport, from Finnish service provider YIT Rakennus Oy for about EUR 30 mln. The total size of the premises is approximately 9,000 m[sup]2[/sup]. The project consists of three office buildings of approximately ...
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PropertyEU Archive
Prologis invests further EUR 91.7m in PEPF II
Prologis European Properties has announced a EUR 91.7 mln investment into Prologis European Properties Fund II (PEPF II). The private equity fund was established in August 2007 to acquire assets from Prologis' European development pipeline as well as conforming third-party assets. Funded from existing credit facilities Prologis’ total investment in ...
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PropertyEU Archive
Canada Life acquires Dusseldorf office property
The Canada Life Assurance Company has purchased the Breite Strasse 3HOCH5 office building in Dusseldorf’s banking quarter for an undisclosed sum. The seven-storey building, comprising 6,500 m[sup]2[/sup] of office and retail space, was sold by investors Momeni Project Development, the NPC Group und HCI Developmentfonds I. The net initial yield ...
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PropertyEU Archive
JLL appointed as lead agent for Warsaw's Europa Park
Europa Distribution Center (EDC) has appointed property adviser Jones Lang LaSalle as the lead agent for Europa Park near Warsaw, one of the largest logistics locations in Central and Eastern Europe.
