Latest reports – Page 3549
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News
Pension funds pull out of Equest
UK - The BBC Pension Trust, SAUL, BHS Pension Scheme and P&O Pension Scheme have sold their shareholdings in Jersey-based property investment firm Equest Partners.
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News
Fair value potential entices investors back to UK
EUROPE - Continental European property yields will follow the widening UK trend in 2008, “though not to the same extent”, according to Tony Horrell, CEO of European capital markets at Jones Lang LaSalle.
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News
Sovereign funds to save assets in distress
GLOBAL - Sovereign wealth funds (SWFs) will take over from private equity as they exercise their financial weight by acquiring distressed assets and companies, according to Ernst & Young’s global real estate report.
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News
Oil powers Canada returns
CANADA - Commercial property in oil-rich provinces contributed to Canadian returns of 16.1%, compared with 10.5% for equities, and 4.7% for bonds, according to IPD figures published last week.
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News
Spanish spread boosts logistics
SPAIN - Spanish logistics markets are expanding as urban sectoral growth continues at above the national average, according to a Savills report on the country’s warehousing market.
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PropertyEU Archive
Dubai sovereign fund gets extension for Colonial bid
The Investment Corporation of Dubai has been granted an extension on its period of bid exclusivity with the key shareholders of debt-strapped Spanish property giant Colonial until 27 February. In a statement, the sovereign wealth fund said it asked for the extension to continue both due diligence and negotiations with ...
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PropertyEU Archive
Memery Crystal advises on major asset-backed financing for Woolworths
London-based law firm Memery Crystal advised retailer Woolworths on a £385 mln (EUR 511 mln) re-financing deal. The deal was one of the largest European asset-backed loan re-financings in the retail market, publication Legal Week reported. GMAC Commercial Finance and Bank of Ireland's subsidiary Burdale Financial providing the debt.
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PropertyEU Archive
Gecina forecasts sustained growth in 2008
French property company Gecina has said it will pay a dividend of EUR 5.01 per share on 2007 earnings, up 19.3% on 2006. Among other 2007 figures released Friday, Gecina said group net income fell 27.3% to roughly EUR 1.3 bn after value adjustments while EBITDA before disposals and value ...
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PropertyEU Archive
Laxey to float EUR 660m opportunity property fund on AIM
A fund established by activist UK investor Laxey Partners to invest in 'undervalued' property companies and funds in Europe is to list on London's junior Alternative Investment Market (AIM) on Monday. Terra Catalyst, a Cayman Islands-registered closed-ended property share fund, is thought to have raised almost £120 mln (EUR 160 ...
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PropertyEU Archive
Deputy PM helps launch Colliers' Montenegrin office
Montenegro's deputy prime minister Vujica Lazovic and the economic development minister Branimir Gvozdenovic were among the dignitaries at the opening of Colliers International's new office in the Montenegrin capital Podgorica last week. US ambassador Roderick Moore and Clive Rumbold, the charge d'affaires of the delegation of the European Commission were ...
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PropertyEU Archive
AMB agrees to buy Dutch logistics development
Industrial real estate company AMB has entered into an agreement for the forward acquisition of a multi-tenant logistics facility in Bleiswijk near the Dutch port city of Rotterdam. AMB Bleiswijk Distribution Center is being co-developed by AMB and Maasstede Vastgoed Ontwikkeling V.O.F. The property is expected to total 42,000 ...
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PropertyEU Archive
Metrovacesa 'paid EUR 264m for land valued at EUR 8m'
Spanish largest listed property company Metrovacesa reportedly paid EUR 264 mln last November for 81,000 m[sup]2[/sup] of land in Madrid which had been valued at less than EUR 8 mln in a land registry filing. According to Spanish newspaper Cinco Dias, the three plots of land were valued at just ...
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PropertyEU Archive
Savills opens Brussels office
Property adviser Savills has opened up an office in Brussels to serve the Belgian and Luxembourg property sectors. The new office will initially provide transactional and valuation services and will be run by John Defauw and Gregory Martin, who will act as managing directors. The office will work closely with ...
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PropertyEU Archive
Irish property lending growth slows
Growth of property-related lending in Ireland slowed down in the final months of 2007, figures from the Irish central bank show. The central bank's sector breakdown indicates that lending for commercial property and construction reached EUR 105.8 bn at the end of 2007, up EUR 22.5 bn on the year. ...
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PropertyEU Archive
Park Plaza takes control of Westminster Bridge project
Euro Sea Hotels, a subsidiary of Park Plaza Hotels, has acquired the 66% stake in Marlbray Limited it doesn't already own, giving it 100% ownership of the Park Plaza Westminster Bridge hotel project in London. The total cost for the acquisition and the settlement of a fee payable by Marlbray ...
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PropertyEU Archive
ICSC launches community support award
The ICSC Foundation, the charitable arm of the International Council of Shopping Centres (ICSC), has launched a new award. Worth EUR 5,000 to the winning charity or organisation which has benefitted, the Community Support Award is designed to encourage and recognise outstanding work being done by European shopping centres within ...
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PropertyEU Archive
Allreal reports full year profits up 10% for 2007
Zurich-based property firm Allreal booked a net profit, including revaluation gains, of EUR 54.3 mln in 2007, up 9.9% over the previous year. Operating profit was also up at EUR 43.4 mln compared to EUR 42 mln in 2006. Cash flow rose to EUR 72.2 mln up from EUR 33.8 ...
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PropertyEU Archive
PIK Group acquires two development sites in Yaroslavl, Russia
Russian real estate group PIK has purchased two land plots, comprising 88 hectares, in the city of Yaroslavl for an undisclosed sum. The London-listed company plans to develop 880,000 m[sup]2[/sup] of housing on the sites. The plots are located close to PIK's current developments in Yaroslavl and the latest acquisitions ...
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PropertyEU Archive
Europa Fund II, St Congar acquire of Imperial House, Windsor
Europa Fund II has purchased Imperial House, Windsor in a joint venture with St Congar Properties from The Crown Estate. The financial details were not disclosed.
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PropertyEU Archive
Nord/LB finances EUR 350m Clearstream deal
Northern German bank Norddeutsche Landesbank (Nord/LB) said on Thursday that it provided EUR 350 mln financing to Bonn-based property company IVG for the acquisition of the 'The Square' office building in Luxembourg. The bank was the arranger and underwriter for what was it says was one of the largest real ...
