Latest reports – Page 3568
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News
Shorenstein taps investors for mezzanine deals
UNITED STATES - Shorenstein Properties LLC has decided to reopen its last closed-end mezzanine commingled fund Shorenstein Realty Investors Nine to existing investors, in a bid to make gains before financing capital hits the market.
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PropertyEU Archive
Eurobank Properties REIC acquires two Maroussi retail assets
Greece's Eurobank Properties Real Estate Investment Company (Eurobank REIC) has expanded its investment portfolio with the acquisition of two retail properties located in Kifisias Avenue. The entry yield of the investment is calculated at 6%.
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PropertyEU Archive
Bouygues Construction wins EUR 300 mln Paris tower contract
Bouygues Batiment Ile-de-France has won a contract worth over EUR 300 mln to renovate the CB31 tower in Paris' La Defense business district. The contract was awarded by a syndicate of French insurance group Axa, Boston-based real estate investment firm Beacon Capital and French developer Cogedim.
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PropertyEU Archive
Resolution's third fund raising nets EUR 800 mln equity commitments
Resolution has announced the closing of its third capital raising (Resolution Real Estate Fund III L.P.) which has resulted in EUR 800 mln of new equity from leading European and US private equity investors. The new fund's first acquisition was the purchase of the prime three acre leisure complex, The ...
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PropertyEU Archive
Deka buys Andersia tower in Poznan
Deka Immobilien has acquired the 19-storey Andersia tower, a flagship mixed-use development in the Polish city of Poznan from Von der Heyden Development, the service consultancy arm of the German Von der Heyden Group (VDHG). The financial details were not disclosed.
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PropertyEU Archive
GE hints at bid for Spain's Colonial
GE Real Estate Iberia, a subsidiary of US conglomerate General Electric, confirmed on Monday that it is 'studying a possible operation' involving troubled Spanish property group Inmobiliaria Colonial. However, the company added that no decision has yet been made, noting that this will depend on receiving the relevant financial, legal ...
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PropertyEU Archive
Hochtief, Macquarie 'eyeing' Germany's DeTe Immobilien
Deutsche Telekom has hired investment bank Morgan Stanley to sell its property management unit DeTe Immobilien, newspaper Financial Times Deutschland (FTD) reported on Monday. According to the paper, the first round of bidding for Germany's leading property manager has already been completed, with German construction company Hochtief and Australian bank ...
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PropertyEU Archive
Delancey increases presence in regeneration sector
London-based specialist investment advisor Delancey has acquired Miller Developments' 50% interest in UK urban regeneration and mixed-use property developer Centros Miller. Miller and Delancey have been joint venture partners in Centros Miller since 1999. Delancey will now rebrand the company as 'Centros'.
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PropertyEU Archive
PIK, GIC team to develop urban area in Moscow region
GIC Real Estate, the property investment arm of the Government of Singapore Investment Corporation, has entered a partnership agreement with London-listed developer PIK Group to develop a large urban area in the city of Mytischi, located northeast of Moscow. The agreement stipulates that GIC Real Estate will pay approximately ...
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PropertyEU Archive
Non-listed funds in vogue despite credit crunch
Investors will increase their allocation to non-listed real estate funds this year in spite of the turmoil in credit markets, according to the latest INREV Investment Intentions report.
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PropertyEU Archive
ACC's new fund invests in Amsterdam offices
Rabobank's Dublin-based ACC Bank Wealth Management unit is launching a new international property fund to its national client base. The fund is buying three prestigious and historic office properties in central Amsterdam from a consortium of international investors for EUR 38 mln.
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PropertyEU Archive
Halabi set to sell stake in the Shard
UK property tycoon Simon Halabi is reportedly set to sell his one-third stake in the troubled Shard of Glass skyscraper project. The Syrian-born investor is understood to have received a £30 mln cash offer from some Qatari investment funds for his interest in the site over London Bridge station. Here ...
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PropertyEU Archive
New Star Asset Management issues profit warning, cuts dividend
UK fund manager New Star Asset Management, which manages the New Star UK Property Unit Trust, cut its final 2007 dividend to 5 pence from a previous 9 pence per share, as it pointed to the uncertain market situation and its desire to maintain its financial position.
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PropertyEU Archive
Segro developing major business and logistics centre at new Berlin airport
UK listed property company Segro said it has signed a major partnership agreement with the Berlin Airport Authorities to develop a maximum 230,000 m[sup]2[/sup] business and logistics park on a 38 hectare site in the immediate vicinity of the new Berlin Brandenburg International (BBI) Airport terminal currently under construction.
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PropertyEU Archive
Schroder fund buys into Rome's logistics property
Schroder Property Investment Management Italy (SPRIM) said it has bought the Santa Palomba logistics property development located in Pomezia, south of Rome, from Matrix, a fund managed by Valore Reale for some EUR 25 mln. The transaction reflects a net initial yield of 7.60%. The building, providing some 28,000 m[sup]2[/sup] ...
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PropertyEU Archive
Italy's Monte dei Paschi fund buys office building in Rome
Italian fund Monte dei Paschi Hines Real Estate Crescita (MHREC) has acquired an office building in the EUR district of Rome from fellow Italian property fund Tikal Re Fund, for an undisclosed sum. The building is located at Piazzale Don Luigi Sturzo 23/31 and covers a gross area of 18,800 ...
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PropertyEU Archive
Metro sells 245 Extra supermarkets
Metro is selling its Extra business consisting of 245 Extra supermarkets to German cooperative Rewe for an undisclosed amount. The German retailer said that the move is aimed at cutting debt as well as focusing on the food business of its Real stores which are expanding into eastern Europe and ...
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PropertyEU Archive
Aegon's Scottish Equitable halts withdrawals from commercial property fund for up to a year
Scottish Equitable, which runs one of the UK's biggest commercial property funds, has put a halt to withdrawals from investors as a growing number of small investors have sought to flee the sector.
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PropertyEU Archive
National Grid drops £700m portfolio sale
National Grid said on Friday that it has decided to cancel the £700 mln sale of its UK property portfolio because it did not receive high enough bids. The UK power network operator said the bids received for its property business, National Grid Property, did not match the value it ...
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PropertyEU Archive
Spain's real estate services firms close half of their offices in 2007
Spanish real estate services companies closed about half of their offices in 2007, according to data issued by Agentes de la Propriedad Inmobiliaria (API), a network of real estate agents across Spain. API estimated that around 40,000 offices closed over the last 12 months, which compares to a total of ...
