Latest reports – Page 3552
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PropertyEU Archive
New Star UK fund sells London office for EUR 170m
UK asset manager New Star has sold the office property at 60 Gracechurch Street in the City of London for £127.5 mln (EUR 170 mln), reflecting an initial yield of about 5.5%. The fund manager declined to name the buyer but said it received a number of offers for the ...
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News
UK pension funds look east for storage
UK - UK pension funds see continued traction in Central and Eastern European (CEE) logistics despite concerns over pricing in other segments of those markets.
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News
GIC acquires Finnish retail
FINLAND - GIC, the €145bn Singapore sovereign wealth fund, has acquired 40% of one of Finland’s largest shopping centres for €131.6m.
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News
Hotel investors build at home, buy abroad
US/GLOBAL -US hospitality investors are looking to Asia for returns but will face increasing competition from local investors, according to a report by Ernst & Young.
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News
Strapped UK investors are still shopping
UK/EUROPE - Investors are still confident in the UK shopping centre market despite a sharp drop in transaction values in the second half of 2007, according to a DTZ report.
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News
KBC Pensioenfonds shifts real estate for LDI
BELGIUM – KBC Pensioenfonds has significantly diversified its real estate allocation within the last eight months, in a bid to match the scheme's liability-driven investment (LDI) strategy.
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News
Credit crunch cost $3-4trn – JP Morgan
GLOBAL – JP Morgan officials say investment market turbulence sparked by the US subprime housing crisis may already have cost in excess of $3trn (€2.04trn) in lost credit and warn there could be more to come under tightened credit pricing.
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PropertyEU Archive
GE Hungary takes major lease in East Gate business park
GE Hungary's energy division has leased a total 6,300 m[sup]2[/sup] of space at the East Gate Business Park (EGBP) that is being developed in Budapest by Wallis Real Estate Zrt. GE was advised by global real estate consultant Cushman & Wakefield.
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PropertyEU Archive
Movenpick opens 5-star business hotel in Izmir, Turkey
Swiss premium hotel chain Movenpick said it has opened a new upmarket hotel in the Turkish city of Izmir. The five-star Movenpick Hotel Izmir, which has been extensively refurbished over the last two years, offers 185 rooms and suites tailored to the needs of business travellers. After Istanbul and ...
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PropertyEU Archive
DEC starts construction Sheraton Malpensa hotel
Construction started this week on the new Sheraton Malpensa Airport hotel located near Milan's Malpensa airport in northern Italy. Italy's Degennaro group, which owns the site through its construction unit DEC, expects the 440-room hotel facility to be completed in January 2010. Total investment for the property, which is adjacent ...
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PropertyEU Archive
Cofinimmo buys France's Medimur for EUR 229m
Belgian listed property company Cofinimmo said it has agreed to buy French company Medimur, the owner of clinics and nursing homes in France, for an investment of EUR 229 mln. As it bolsters its healthcare property investments, the company said it is also purchasing three more nursing homes around Brussels ...
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PropertyEU Archive
Mandarine acquires luxury real estate group La Perla
Paris-listed property company Mandarine group said it has agreed to acquire Dutch luxury real estate group La Perla International Living for an undisclosed amount. Mandarine will pay for the transaction through the issue of new shares and will take on the name of the company it is acquiring following ...
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PropertyEU Archive
Norwegian Property sells assets for EUR 104m
Oslo-based investor Norwegian Property said Friday it has sold three non-core assets to a consortium led by Patero Private Equity for NOK 823 mln (EUR 104 mln). Specifically, it has agreed to sell the Ostre Aker vei 20 and 22 properties at Okern in Oslo for NOK 155 mln while ...
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PropertyEU Archive
CA Immo disposes of Renaissance tower in Warsaw
Austrian property company CA Immo International has sold the Renaissance tower in Warsaw, Poland, to an unnamed buyer. Renaissance is an office property in Warsaw's city centre offering some 17,500 m[sup]2[/sup] of space. CA Immo said that the transaction price comes to around EUR 60 mln, representing an increase of ...
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PropertyEU Archive
Icade builds new Credit Lyonnais HQ
French property company Icade said it is to build the new Credit Lyonnais headquarters in Villejuif, in the southern outskirt of Paris. The project, called Metropolitan, will encompass some 60,000 m[sup]2[/sup] of office space distributed across three buildings. Completion of the first asset is due for end-2008, with the other ...
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PropertyEU Archive
Sponda set to launch new Finnish fund
Finland's property company Sponda said on Friday it is launching a new real estate fund, the Sponda Real Estate Fund II Ky. The new investment vehicle will target investment of about EUR 200 mln, and will have an initial portfolio of EUR 70 mln. The fund will invest primarily in ...
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PropertyEU Archive
AMB Property pre-leases 12,100 m[sup]2[/sup] in Brussels distribution development
San-Francisco based industrial property developer and owner AMB Property Corporation said it has pre-leased more than 130,000 sq ft (12,100 m2) in the 437,000 sq ft AMB Boom Distribution Center to fashion retailer C&A Belgie. C&A will use the facility to expand it distribution capabilities in Belgium.
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PropertyEU Archive
IPD UK index: January property returns negative but improving
Total returns on the Investment Property Databank (IPD) monthly index for direct investments in UK commercial property were negative in January but showed an improvement on the previous month. Total returns in January 2008 were -1.6%, an improvement on the December 2007 total return of -3.7% and giving a 12-month ...
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PropertyEU Archive
IVG acquires prime office in Helsinki
Germany's IVG Institutional Funds has acquired a new waterfront office development in the Ruoholahti district of Helsinki for an undisclosed amount. The vendor is a subsidiary of private investor Ahlström Capital Oy. The building, with an occupancy rate of 97%, is let to five tenants with term leases ranging from ...
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PropertyEU Archive
Metrovacesa to invest EUR 4 bn by 2010
Spanish property giant Metrovacesa plans to invest up to EUR 4 bn in commercial property across Europe by 2010 in a move aimed at reducing its exposure to the shrinking residential market in the country. The company, which on Monday announced the launch of a new strategic plan for the ...
