Latest reports – Page 3555
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PropertyEU Archive
Warehouses being pushed further from urban centres - Savills
A combination of limited availability of sites, higher land values and congestion problems close to the major urban centres of Europe have pushed the development of modern distribution centres to neighbouring communities, Savills has said in its latest European warehouse markets study.
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PropertyEU Archive
HSBC Private Bank purchases office development from UBS
HSBC Private Bank, acting for private clients, has acquired UBS Global Asset Management's office property at 160 Tooley Street for about £135 mln (EUR 181 mln), Property Week has reported. The transaction reflected an initial yield of around 5.25%.
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PropertyEU Archive
Quinlan partners Propinvest in Santander HQ purchase
Irish property investor Derek Quinlan was part of the consortium that agreed to purchase Banco Santander's headquarters near Madrid for EUR 1.9 bn in January, Irish newspaper Sunday Business Post has reported. The transaction reflected a yield of 4.5%, with the bank agreeing to rent the site for 40 years ...
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PropertyEU Archive
Vastned Retail grants additional time for offers
Dutch-listed property fund Vastned Retail has announced that the parties bidding for its shares as well as parts of its portfolio will have additional time to finalise their offers. The board of management said further announcements are expected by the middle of March, while emphasising that the statement was not ...
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PropertyEU Archive
CBRE fund buys 10 hotels in Germany
CB Richard Ellis Investors has bought 10 hotels in Germany from US investment company Lone Star for its hotel investment fund Dynamique Hotels. Financial details were not disclosed. The deal, which was concluded at end-2007 but not announced until last Friday, was part of a share swap and included the ...
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PropertyEU Archive
Colliers International opens up shop in Montenegro
Colliers International opens a new office in Montenegro's capital Podgorica on Tuesday. Commenting ahead of the launch party at Hotel Podgorica for the new office, Andreas Marambos, managing director of Colliers International Montenegro, said: 'We are the only major international property consultancy operating here in Montenegro and we ...
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PropertyEU Archive
Kenmore fund disposes of two Norwegian assets
Kenmore European Industrial Fund (KEIF) has sold two Norwegian properties to Close Euro PIP for NOK 118.7 mln (EUR 14.8 mln). The transaction reflects a net initial yield of 6.7% and was done at a price above the last valuation of 30 September 2007. The properties consist of a 9,750 ...
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PropertyEU Archive
New Europe acquires Romanian portfolio for EUR 46m
AIM-listed Central and Eastern European property investor New Europe Property Investments (NEPI) has acquired a portfolio of 18 properties located throughout Romania through the purchase of two companies, General Investment and General Building Management. The total estimated cost of the transaction was EUR 46.3 mln although the final purchase price ...
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PropertyEU Archive
Interspeed to open first shopping centre in southern Serbia
Interspeed Shopping Center is scheduled to open this summer in Presevo, southern Serbia, a town located in the country’s Albanian-majority area. The centre will comprise 84 units in a retail area covering 12,650 m[sup]2[/sup]. There will also be a supermarket, cafes, restaurants and a petrol station. Leasing has already begun ...
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News
Avon PF to place 1/8th in multi-manager property
UK – Bath and North East Somerset Council is looking to alter the asset allocation strategy and passive equity holdings of the Avon pension fund, to accommodate diversification into UK and global real estate.
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News
DNB steps up scrutiny on Philips real estate scandal
NETHERLANDS – DNB, the supervisor of the Dutch pension sector, saidit is increasing its review of real estate transactions done by withDutch pension funds, on the back of fraud uncovered at the Philipspension fund, as well as increased volatility on the international realestate markets.
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PropertyEU Archive
Colliers International Hellas names new managing director
Colliers International Hellas has appointed Andreas Marambos as its new managing director, the international property consultants announced Friday. Marambos joins Colliers from Ster Cinemas, Greece’s largest multiplex cinema operator chain, where he held the position of managing director from 2000 to 2007. At Ster, Marambos led the development and ...
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PropertyEU Archive
Vivacon buys major real estate manager in Germany
German-listed residential property company Vivacon has acquired 80% of Curanis Holding, one of the largest real estate managers in Germany. Curanis is based in Munster, Lower Saxony and services more than 53,000 residential and commercial units in more than 250 locations. The market value of the properties under management amounts ...
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PropertyEU Archive
London still most expensive for office and industrial space - King Sturge
London remains the most expensive city in the world to occupy office space, the latest twice-yearly Global Industrial and Office Rents Survey from international property consultancy King Sturge show. Costs in London’s West End are now running at EUR 2,166.78/m[sup]2[/sup] per annum (£1,400/ft²/annum) while those in the City of ...
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PropertyEU Archive
Dawnay Day Treveria sees opportunities to add to EUR 2.5b retail portfolio
Dawnay Day Treveria, a UK investor in German retail property, has said it sees opportunities for further 'selective acquisitions' given the current market environment and robust fundamentals of the Germany economy. Between 1 July and end-December last year, DDT acquired 63 German properties. with a net initial yield of ...
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PropertyEU Archive
European office market 'resilient' - CBRE
Occupier demand for office space across Europe remained strong through 2007, with the full-year total of over 10 million m[sup]2[/sup] on a par with the previous year, according to CB Richard Ellis' upcoming EMEA Offices Market View. Despite predictions of growing caution among occupiers, particularly in the financial sector, ...
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PropertyEU Archive
Merrill Lynch, Colonia buy mixed real estate portfolio in Germany
Merill Lynch and German firm Colonia Real Estate have teamed up to acquire a mixed real estate portfolio in Germany for about EUR 75 mln. Merill Lynch holds 90% of the joint venture set up for the transaction while Colonia has the remaining 10%.
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PropertyEU Archive
CB Richard Ellis acquires Romanian property adviser
CB Richard Ellis Group said on Friday that it has acquired Eurisko Consulting, the largest independent commercial real estate services company in Romania. The purchase price of about EUR 24 mln is subject to a post closing audit.
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PropertyEU Archive
GE Real Estate buys remainder of Polish retail jv for EUR 80 mln
GE Real Estate Central & Eastern Europe said it has bought the 24.8% stake it did not already own in the Polish retail joint venture Green Holdings for EUR 80 mln. GE is buying out its partner, fund manager Heitman, ahead of the imminent expiry of the Heitman Central ...
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PropertyEU Archive
Prologis sees soaring UK internet sales driving warehouse demand
Soaring internet retail sales in the UK will significantly boost the amount of warehouse space required, according to a report released by Denver-based distribution facilities group Prologis. The report, entitled ‘Internet Retailing: Opportunities and Challenges for the UK’s Distribution Property Markets’, looks at the impact of internet sales on ...
