Latest reports – Page 3566
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PropertyEU Archive
Babcock & Brown sells EUR 110m German retail portfolio
Investment and asset management group Babcock & Brown has signed a contract to sell its portfolio of German retail property. According to the company statement, the fund has sold the portfolio 'with an enterprise value of approximately EUR 110 mln' to a company listed on London's junior AIM market. Following ...
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PropertyEU Archive
Sponda cuts stake in Ovenia to 45% from 70%
UK property investor Sponda said on Thursday it had cut its stake in Finnish property manager Ovenia to 45% from 70%. Sponda said it sold its shares to Ilmarinen's Suomi-rahasto I Ky private equity fund, which is managed by OKO Venture Capital, and to members of Ovenia's management. No financial ...
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PropertyEU Archive
Kanam US snaps up office buildings in Dallas suburb
German property fund manager Kanam US grundinvest said on Thursday it had acquired two office buildings in the Dallas suburb of Frisco for $62.7 mln (EUR 43 mln).
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PropertyEU Archive
Ulster's EUR 900m civil service property sell-off still on
Officials at the Northern Irish executive said late Wednesday that the planned EUR 900 mln sell-off of civil service buildings will go ahead, the Belfast Telegraph reported. The announcement by the Department of Finance and Personnel followed reports that the property sell-off had been halted due to the fragility of ...
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PropertyEU Archive
Niam, the Whitehall funds sell office portfolio in Stockholm
Aberdeen Property Fund Pan-Nordic have acquired an office portfolio in southern Stockholm from Sweden’s Niam Fund III for an undisclosed sum. The portfolio comprises 70,000 m[sup]2[/sup] of lettable space, 93% of which is modern office space.
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PropertyEU Archive
Mercialis FY 2007 rents EUR 99.5m, up 21.9% y-o-y
French property firm Mercialis on Thursday reported rental revenues of EUR 99.5 mln for the full year 2007, up 21.9% on 2006. Full-year invoiced rents rose 21.1% to EUR 97.7 mln. With 9.3% of this growth organic and 2006 and 2007 acquisitions accounting for 13.2%.
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PropertyEU Archive
Starwood adds five-star hotel to Ballymore's Snowhill scheme
Ballymore confirmed this week that US operator Starwood Hotels & Resorts has entered into an agreement to open a new 198-bedroom Westin Hotel &Spa at Ballymore's Snowhill scheme. The facility will give Birmingham its first five star hotel. The hotel, which is due to open in early 2010, will form ...
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PropertyEU Archive
Invesco closes EUR 20m deals in France
Invesco Real Estate said on Wednesday that one of its southern European funds has bought the 'Regent Park II' complex in the Labege office park, south-east of the French city of Toulouse for EUR 10 mln. The complex consists of two new office buildings with a total floor space of ...
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PropertyEU Archive
Castellum reports 5% rise in income from property management
Swedish property developer Castellum has announced that income from property management increased by 5% in 2007. The results published on Wednesday showed that net income excluding changes in value and tax, amounted to EUR 883 mln (SEK 924 mln), equivalent to EUR 5.38 (SEK 5.63) per share. The company said ...
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PropertyEU Archive
Spanish stocks take a cold shower
The Spanish stock market continued its recovery on Wednesday opening with an overall increase of 1.38% after having risen another 1.69% on Tuesday. The large interest rate cut on Tuesday by the Federal Reserve helped stocks globally out of their free fall. On Monday the Spanish Bolsa saw the worse ...
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PropertyEU Archive
Savills: Prime Dutch office market will remain stable in 2008
Following another record year for the Dutch office investment market, property consultant Savills said it expects the market to remain stable in 2008. According to Savills' research, the prime office market has achieved positive rental growth (12.3% year-on-year in Q3), and combined with new developments, this has fuelled another record ...
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PropertyEU Archive
Colliers appointed letting agent for largest Albanian shopping mall
Colliers International Southeast Europe has been chosen as the exclusive leasing agent for CityPark Tirana, the biggest shopping centre in Albania. Developed by AM Group, the 40,000 m[sup]2[/sup] GLA shopping centre is due for completion in first quarter 2009. The shopping centre will house some 150 retail units, supermarkets, food ...
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PropertyEU Archive
Land Securities has £500m investment warchest
UK property group Land Securities issued an upbeat assessment of its future trading prospects in a third quarter statement on Tuesday. The largest real estate investment trust in the UK said that it had made good profits out of recent building sales and announced that it plans to take advantage ...
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PropertyEU Archive
St Modwen, IPP pair up to redevelop Arc
UK regeneration specialist St Modwen Properties has teamed up with International Process Plants & Equipment (IPP) to purchase a 3.76 hectare site of the former ARC International glassworks in Sunderland. Pyrex oven-proof glassware was manufactured at the plant until late last year. Sunderland arc, the city's urban regeneration company had ...
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PropertyEU Archive
CBRE: Yields back at Q1 2005 levels
Real estate investment levels fell in the fourth quarter of 2007 to a third of the levels recorded in the first three quarters of the year, largely due to the turmoil in the financial sector. Scarcity of debt and a marked shift in investor sentiment towards property pushed the All-Property ...
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PropertyEU Archive
Hypo RE completes EUR 87m financing for Forum Liberec mall
Hypo Real Estate Bank International has agreed to provide development financing to a 50/50 joint venture between Multi Development and UK retailer Tesco. The facility is for the construction of the Forum Liberec shopping mall in the city centre of Liberec, Czech Republic. The transaction was completed on 18 January ...
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PropertyEU Archive
Henderson gives public first say on £850m flagship scheme for Edinburgh
Henderson Global Investors has launched a major consultation programme into its proposals for St James Quarter, the EUR 1.1 mln (£850 mln) vision for Edinburgh city centre. The eight-week consultation programme will give members of the public a chance to comment on plans for the new shopping centre before an ...
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PropertyEU Archive
JJW Hotels & Resorts shops in the Algarve with EUR 180m hotel buy
JJW Hotels and Resorts, a subsidiary of MBI International, has acquired four luxury properties in the Algarve region of Portugal for a total of $268 mln (EUR 183 mln). The properties, bought from Starman Hotels are the prestigious San Lorenzo Golf Course, the Dona Filipa Hotel, a luxury five-star hotel ...
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PropertyEU Archive
GPT's DAF fund raises EUR 83m of equity in first closing
GPT Halverton announced on Wednesday that its Dutch Active Fund (DAF) has raised a total of EUR 83 mln from a number of European institutional investors in its first closing. A second and final close of up to EUR 50 mln equity is planned for mid-2008. The fund owns a ...
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PropertyEU Archive
Trigon Invest sells Radisson hotel in Hamburg for EUR 40m
Berlin-based Trigon Invest has sold the Radisson SAS hotel in Hamburg to Azure Property. The transaction value comes to around EUR 40 mln. The hotel, the highest building in Germany when it opened its doors in 1973, offers some 560 hotel rooms. Azure Property intends to invest some EUR 40 ...
