Latest reports – Page 3553
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PropertyEU Archive
Morley, SachsenFonds launch European industrial fund
UK fund manager Morley and Munich-based SachsenFonds have teamed up again to launch a new logistics and industrial property fund to 'capitalise on the active and growing logistics market in Continental Europe'.
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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 ...
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PropertyEU Archive
Rezidor to open Radisson Resort in Ukraine
Brussels-based hospitality group Rezidor said on Thursday it plans to open a 213-room Radisson Resort in Alushta, a Black Sea resort in Ukraine. The company said the first phase of the project involves the refurbishment of an existing 63-room unit set to open in March 2008. This will include
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PropertyEU Archive
Hines shops in Barcelona
Spanish property company Habitat has sold an office building in Barcelona for EUR 50 mln to US property investor Hines, newspaper Cinco Dias reported. The building is located on the central Avenida Diagonal de Barcelona and consists of 18,323 m[sup]2[/sup] of office space and 240 parking spaces. Designed by French ...
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PropertyEU Archive
Riofisa unveils EUR 270m Sofia project
Spanish real estate developer Riofisa has unveiled plans for the Civis Center Sofia, set to become the largest shopping centre in Bulgaria. The complex, covering an area of 280,000 m2, will house a shopping centre, hotel and office space for an estimated investment of EUR 270 mln. Work on the ...
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PropertyEU Archive
C&W: London remains world's most expensive office location
The world's top 10 most expensive office locations saw rents increase by an average 40% last year, according to Office Space Across the World 2008, a report issued by real estate services firm Cushman & Wakefield.
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PropertyEU Archive
Italy's Intesa Sanpaolo set to list EUR 1bn REIT
Italy's bank Intesa Sanpaolo said it has started the process to list its EUR 1 bn real estate investment trust, IMMIT Immobili Italiani. The new company, which was founded in October 2007 through the spin-off of the bank's non strategic property portfolio, owns 285 assets representing about 470,000 m[sup]2[/sup] of ...
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PropertyEU Archive
Luresa buys Astro tower in Brussels
Spanish property company Luresa, a subsidiary of the Union Resinera Espanola group, has bought the Astro tower in Brussels from a consortium of Dutch investor SNS Property Finance and developer Hugenholtz Property Group Belgium (HPG). Financial details were not disclosed, but newspaper Les Echos estimates the price at between EUR ...
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PropertyEU Archive
Citycon FY profit rises 61% to EUR 204m
Finnish retail property firm Citycon reported net profit, including fair value gains, for the full year 2007 rose more than 61% to 203.9 mln from EUR 126.4 mln in 2006. Turnover increased by 27% to EUR 151.4 mln. The company said the direct result came in at EUR 35.7 mln, ...
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News
ING Clarion targets $5bn in 2008
UNITED STATES - ING Clarion is expecting to invest $5bn (€3.44bn) in real estate in the United States and Mexico in 2008 - equal to its accomplishments in 2007 despite the recent market downturn.
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News
Mass PRIM expands REIT program
UNITED STATES - Massachusetts Pension Reserves Investment Management Board has decided to expand its REIT investment program by increasing its allocation by 50%.
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News
Nevada PERS strengthens ‘all-cash’ core status
UNITED STATES - Nevada Public Employees Retirement System has decided to grow its real estate portfolio through the acquisition of core assets adopting all-cash purchases.
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News
NYSTRS buys $250m in fresh real estate
UNITED STATES - New York State Teachers Retirement System has added a mix of international, opportunistic and structured finance funds to its real estate portfolio totaling up to $250m (€171.1m).
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News
Savanna creates first institutional fund
UNITED STATES - Savanna Investment Management has joined the institutional fund management business with the closing of its Savanna Real Estate Fund I.
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PropertyEU Archive
Deka buys office-retail complex in Osaka for EUR 120m
Deka Immobilien, the property arm of Germany's Deka Bank, has acquired the Urban Building Shinsaibashi in the Japanese city of Osaka for EUR 120 mln. The 7,454 m[sup]2[/sup] property which is principally let to Apple Japan, was bought for Deka's open public fund which invests worldwide. The seller was special ...
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PropertyEU Archive
Beni Stabili purchases EUR 23m site in Milan
Beni Stabili’s joint venture company with Greenway Costruzioni has signed an agreement to purchase a 17, 000 m[sup]2[/sup] site in Milan for some EUR 22.9 mln. According to the statement, the company will finance the acquisition with a target leverage of 60%, with closing at the end of April 2008.
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PropertyEU Archive
King Sturge launches German market index
Property adviser King Sturge has launched a new monthly survey of the level of confidence in the German property market. Combining the views of 1,000 property professionals as well as data from various indices and information on base interest rates, the Real Estate Economic Index (Immobilienkonjunktur-Index) is designed to provide ...
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PropertyEU Archive
UK shopping centre deals hit 10-year low - DTZ
The number of shopping centre transactions in the UK dropped to a 10-year low in 2007, DTZ said on Wednesday. The total number of shopping centre transactions was down from 81 in 2006 to 42 last year.
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PropertyEU Archive
AMB leases 10,000 m[sup]2[/sup] to KLM at Amsterdam Airport
AMB Property Europe said on Wednesday that it has fully leased 8,500 m[sup]2[/sup] of warehouse space and 1,800 m[sup]2[/sup] of office premises in the AMB Fokker Logistics Center 3B development project to the KLM engineering & maintenance division, part of French-Dutch airline Air France-KLM.
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PropertyEU Archive
Kardan plans to invest EUR 800m in China and India
Amsterdam and Tel Aviv-listed investment company Kardan plans to invest up to EUR 800 mln in China and India to develop residential and commercial real estate. 'We see enormous demand in these markets,' Kardan chairman Alain Ickovics said in an interview with Bloomberg.
