Latest reports – Page 3569
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PropertyEU Archive
Hines seals £410m financing package for Cannon Street office project in London
The UK arm of international real estate company Hines said it has sealed a total £410 mln (EUR 550 mln) financing package for its Cannon Street office redevelopment project in London. Specifically, it has agreed upon a £ 300 mln debt package with HSH Nordbank, as well as ...
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PropertyEU Archive
CapMan sets up EUR 835m hotel fund, buys 39-hotel portfolio
Scandinavian fund manager CapMan has launched a new private equity real estate fund, CapMan Hotels RE Ky. The fund signed on Friday an agreement on the acquisition of a hotel portfolio consisting of 39 properties from Northern European Properties (NEPR). The transaction volume was EUR 805 mln.
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PropertyEU Archive
Sparkassen Immobilien shops in Croatia and Austria
Listed property company Sparkassen Immobilien said it has bought a residential asset and two mixed-use buildings in Vienna's city centre, together with an office block in Zagreb, for a total of some EUR 60 mln.
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PropertyEU Archive
UK pooled property funds deliver worst ever quarterly performance
UK pooled property funds turned in their worst ever performance in the last quarter of 2007, with the IPD UK Pooled Property Fund Indices delivering a 9.1% total return in the period, the worst result recorded since it began in 1990.
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PropertyEU Archive
Resolution tipped to launch £3 bn fund
Privately-owned investor Resolution Property is reportedly to launch a £3 bn fund which will capitalise on the adverse credit market conditions. According to newspaper the Financial Times, the company, which is backed by US universities Yale and Harvard and is run by businessman Robert Laurence, has raised some £600 mln ...
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PropertyEU Archive
JLL snaps up German peer Brune
Property consulstancy Jones Lang LaSalle said it had acquired German peer Brune Consulting Management. No financial details were disclosed. Dusseldorf-based Brune is a retail management specialist with 30 employees and around 250,000 m[sup]2[/sup] of retail space under management, including nine shopping centres.
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PropertyEU Archive
Union Investment acquires office project in Frankfurt
Union Investment Real Estate has acquired the Eschborn Waves office project at Frankfurter Strasse 16-40, in Eschborn, near Frankfurt, for EUR 67.3 mln. The project is earmarked for Union Investment's UniImmo: Deutschland open-ended real estate fund, The vendor of this modern building, which offers around 21,250 m[sup]2[/sup] of rental space, ...
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PropertyEU Archive
Orco acquires plots in Warsaw
Central European property group Orco has annouced the acquisition of two new plots covering some 28 ha in Warsaw, Poland. The company plans to invest some EUR 60 mln on the development of a new logistic centre on one of the sites, with the other one due to house the ...
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PropertyEU Archive
TNT picks OVG, Triodos for 'green buildings' initiative
Dutch mail company TNT said on Thursday that it had selected Dutch 'ethical' bank Triodos Group and developer OVG to implement the firms' green buildings initiative. TNTsaid its new head office in the Dutch town of Hoofddorp will be the first of several green offices to be built across the ...
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PropertyEU Archive
HSH finances Evans Randall's EUR 240m Brussels office buy
German bank HSH Nordbank said on Thursday it is to finance UK property investor Randall Investment Management's EUR 240 mln acquisition of the Covent Garden office complex in Brussels. The new complex will consist of two building parts with total space of over 72,000 m[sup]2[/sup] and is set for completion ...
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PropertyEU Archive
PREF sheds EUR 300m retail portfolio across Europe
Closed-end European out-of-town retail property fund PREF is selling five European retail parks, as well as a 41% stake in the Spanish regional shopping centre, Nueva Condomina in Murcia to Henderson European Retail Property Fund (Herald). In a statement, PREF said that the transaction price comes to a total of ...
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PropertyEU Archive
Foncière des Régions buys EUR 102m offices, enters in 'exclusive talks' on Coeur d'Orly project
French property company Foncière des Régions has acquired from Eiffage a property portfolio worth some EUR 102 mln. The 109,000 m[sup]2[/sup] portfolio consists primarily of offices and light industrial premises (75%) rented to Eiffage with firm nine-year leases. The remaining properties are leased to third parties. The assets generate an ...
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PropertyEU Archive
Guestinvest seals £120m hotel deal
UK hotel investment company GuestInvest has bought two central London properties for £120 mln after securing a further £200 mln injection from Bank of Scotland Corporate. The acquisition brings Guestinvest's property portfolio to £300 mln. The company said it plans to redevelop the properties located near Hyde Park and Notting ...
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PropertyEU Archive
Sjaeso says SG Nord will not sell shares in buyback
Danish property developer Sjaelso Gruppen said its biggest shareholder, SG Nord, has declined to sell any of its 30% stake in the firm in connection with Sjaelso's planned EUR 27 mln share buyback. Sjaelso announced the buyback on 16 January.
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PropertyEU Archive
Union Investments' Luxembourg projects open for business
Hamburg-based Union Investment said its L'Unico and Pixel project developments in Luxembourg were completed on schedule at the end of 2007 after a 15-month construction period. The company said the two mixed-use projects, acquired in 2006 for its open-ended real estate fund UniImmo: Europa, are now operational.
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PropertyEU Archive
IPD reports record fall in property capital values
Total returns on the IPD UK Monthly Index fell by 3.7% month on month in December 2007, while capital values fell 4.2% month on month, according to figures released by IPD. The property database said that 'the figures represent a continuation of the steepening falls seen over the past few ...
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PropertyEU Archive
Birmingham hires Barratt for £41m redevelopment project
Birmingham City Council said it has appointed Barratt Homes West Midlands, a leading developer for the £ 41 mln Shard End Crescent shopping parade redevelopment project.
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PropertyEU Archive
Skanska to expand UK prison for £ 53m
Swedish construction company Skanska said its UK arm has been awarded a contract for the design and construction of an extension to the Dovegate training prison in Staffordshire, England. The contract amount is £ 53m, which Skanska will include in its order bookings for the first quarter of 2008. The ...
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PropertyEU Archive
CBRE: European RE investment up in FY 2007, despite Q4 slowdown
Property consultants CB Richard Ellis said on Thursday that despite a slower fourth quarter total investment turnover in European commercial real estate came in at an estimated EUR 236 bn in 2007, compared with the EUR 230 bn in 2006.
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PropertyEU Archive
Marks & Spencer to anchor Eastgate scheme
Retailer Marks & Spencer has agreed terms with Hammerson and Town Centre Securities to anchor their proposed 140,000 m[sup]2[/sup] Eastgate scheme in the UK city of Leeds.
