Latest reports – Page 3546
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News
Chicago Teachers reviews 'emerging managers' status
UNITED STATES- Public School Teachers’ Pension and Retirement Fund of Chicago is looking at investing $125m (€84.3m) this year, in international real estate and emerging managers, once the scheme has reviewed its definition of an ‘emerging manager’.
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News
Washington places $250m in 'non-traditional' real estate
UNITED STATES - Washington State Investment Board has approved a $250m (€168m) commitment into the Morgan Stanley Real Estate Special Situations III commingled fund, to gain global exposure to real estate companies.
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News
US pensions show appetite for entity-level investing
UNITED STATES - School Employees Retirement System of Ohio is one of several pension funds in the United States showing a significant interest in placing capital into entity level real estate investments.
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PropertyEU Archive
Bologna reinvents itself
A wave of investments is set to change the look of the Italian city of Bologna. An injection of some EUR 22 bn over the next ten years will bring new life to Bologna’s dismissed areas in the inner city and to its infrastructure, in particular to the railway line ...
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PropertyEU Archive
Teesland iOG rebrands as Valad Property Group
Teesland iOG, the property fund and asset management group, announced on Friday that it has been rebranded as Valad Proeprty Group. Australia-based property group Valad (value-added) acquired Teesland iOG, along with developer Scarborough, last year to create a pan-European platform alongside its established presence in Asia Pacific.
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PropertyEU Archive
Development Securities agrees refinancing with BoS
UK-based Development Securities said on Thursday that it has completed the refinancing of part of its liability portfolio. It has now prepaid a £34 mln (EUR 44 mln) 8.3% fixed rate, secured term loan that was due for expiry in 2018. As part of the prepayment arrangements, the company paid ...
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PropertyEU Archive
Parquesol sees net profit drop in 2007 while rental income rises 11%
Spanish property group Parquesol said its net profit last year fell 26.5% to EUR 41.1 mln, as the company was hit by a sharp slowdown in demand in the country’s real estate sector and delays in the expected delivery of some of its residential developments.
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PropertyEU Archive
Orco reveals details of 3 holiday property projects in Czech Republic
Luxembourg-based Orco Property Group has unveiled details of three luxury holiday apartment projects in the Czech Republic.
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PropertyEU Archive
ULI to release emerging trends report at Mipim
The Urban Land Institute (ULI) and PricewaterhouseCoopers will present the Emerging Trends in Real Estate Europe 2008 report at the Mipim property fair in Cannes next month. The fifth edition of the annual report features analysis and predictions of the 27 markets in countries throughout Europe. The report is based ...
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PropertyEU Archive
Colonial's shareholders still studying ICD offer
Colonial's majority shareholders, Luis Portillo and Nozar, said on Friday that they were still studying the takeover offer launched by the Dubai sovereign wealth fund, the Investment Corporation of Dubai (ICD), on Wednesday. 'Contrary to some media reports, shareholders have not yet taken any definite decision on the offer, given ...
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PropertyEU Archive
IRE 2007 EPS fall, as NAV and dividend increase
International Real Estate, a property investment and development company listed on the AIM segment of the London stock exchange, said its 2007 earnings per share (EPS) slipped to EUR 1.35 from EUR 1.59 the previous year, as its net asset value per share headed the other direction, rising to EUR ...
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PropertyEU Archive
Schroder Property buys logistics asset south of Milan
Schroder Property Investment Management Italy has completed the acquisition of a logistics building in Brembio, south of Milan, for about EUR 20 mln. The 35,000 m[sup]2[/sup] property, completed in 2002, is wholly let to an international leading logistics company. The transaction reflects a net initial yield of 7.75%, Schroder said. ...
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PropertyEU Archive
Evans Randall expands portfolio of its £1bn opportunity fund
UK investment banking and private equity group Evans Randall has made a second and third acquisition for its £1bn (EUR 1.3 bn) opportunity fund launched in January. The fund, set up to take advantage of a short-term yield shift in the distressed property markets, made its first purchase in early ...
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PropertyEU Archive
Dubai sovereign makes EUR 3b bid for Colonial stake
Colonial's shareholders said on Thursday that they have asked the Investment Corporation of Dubai (ICD) to make changes to the EUR 3 bn takeover bid launched late on Wednesday. In a statement to the Spanish stock market regulator, Colonial's shareholders added they wanted more information about the conditions of the ...
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PropertyEU Archive
Corio 2007 direct result beats forecast, no outlook for 2008
Dutch property group Corio said its direct investment result rose 2.7% to EUR 203.1 mln in 2007, slightly higher than a previous forecast that the figure would be in line with the EUR 197.7 mln seen a year earlier. However, Corio declined to give an outlook for 2008, citing ...
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PropertyEU Archive
M&S to open 50 new stores in Central and South East Europe
UK retail chain Marks and Spencer Group said on Friday it has acquired 50% of M&S Marinopoulos, its franchise partner operating 38 M&S stores in Greece, a number of Balkan states, including Romania and Bulgaria, and Switzerland for EUR 50 mln cash. The joint venture plans to open up to ...
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PropertyEU Archive
Banco Popolare hires Morgan Stanley for launch of EUR 800m fund
Italy's Banco Popolare has hired Morgan Stanley to set up a fund, worth some EUR 800 mln, that groups together the bank's real estate assets that were spun off in December, Italian newspaper Il Sole 24 Ore reported on Friday.
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PropertyEU Archive
Savills: corporate sector will drive Spain's office market in 2008
The office investment markets in Madrid and Barcelona will be driven by corporate transactions this year, according to a research report published by Savills. Real estate companies are expected to put large property portfolios on the market in a move aimed at reducing their liabilities. In 2007, Spain's main office ...
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PropertyEU Archive
IPD: Sweden posts 14.9% property return in 2007
Commercial real estate performance analysis services IPD said that its Swedish Annual Property Index saw a total return of 14.9% in 2007, representing a fall of 1.3% on the year before, but maintaining double-digit returns for the third consecutive year. Property far outperformed the equity and bonds markets, which returned ...
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PropertyEU Archive
Sony sells its European HQ in Berlin to Morgan Stanley-led consortium
Japanese consumer electronics group Sony is selling its European headquarters in Berlin's Potsdamer Platz to a consortium of US merchant bank Morgan Stanley, Germany's Corpus Sireo and Chicago-based The John Buck Company for an undisclosed amount. Market sources say the trio paid EUR 600 mln, significantly lower than the original ...
