Latest reports – Page 3571
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News
Enrichment claims send ‘inadequate’ OMERS board to court
CANADA - Ontario’s appellate court has passed for trial the main substance of a claim arguing the CA$48bn (€32bn) Ontario Municipal Employees Retirement System (OMERs) pension scheme was duped into “unjust enrichment” of directors of its real estate management firm.
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News
Equity build-up 'not evidence of bottomed-out market'
EUROPE - Industry analysts reaffirmed their forecasts for a mid-2008 return to fair value in the UK property market last week after GIC’s acquisition of shares in British Land triggered speculation the market had already started to bottom out.
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News
Morgan Stanley forms solar project fund
UNITED STATES - Morgan Stanley has put together a $200m (€135.9m) solar project fund to invest with Recurrent Energy and provide solar power to institutionally-owned real estate across the country.
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News
CBRE "confident" on Ireland, bar housing
IRELAND - Activity in the Irish residential market will stagnate in 2008 as economic growth drives up office, retail and industrial, suggests a market report published by CB Richard Ellis.
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News
US state scheme invests in student housing
UNITED STATES - An unnamed US state pension fund has set up a US$100m (€67.5m) account to invest in student and faculty accommodation at the University of California.
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News
Lombardy mall opens doors to German owner
ITALY - German property firm Union Investment has entered the Italian retail segment with the €74m acquisition of a recently completed shopping centre in Pavio, Lombardy.
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News
IVG doubles returns
GERMANY – German listed real estate company IVG said preliminary result for 2007 are more doubling its return on the previous year at €290m, despite the continuing sub-prime lending crisis.
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News
Principal buys into retail partnership
UNITED STATES - Principal Real Estate Investors has created a partnership with McCaffery Interests to invest in US retail properties.
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News
Texas Teachers spends $600m on finance and overseas
UNITED STATES - Teacher Retirement System of Texas is looking at making new real estate commitments totaling $600m (€402.8m), the bulk of which will tap into the demand for institutional debt support.
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News
Core gains momentum in State of Connecticut
UNITED STATES - State of Connecticut Trust Funds has added to its core real estate portfolio by making a $75m (€51.2m) commitment to the Cornerstone Patriot Fund.
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PropertyEU Archive
Hansteen closes 2007 with EUR 29m purchases on Continent
AIM-listed European real estate investor Hansteen said that it has completed six acquisitions for a total of EUR 29 mln in Continental Europe. The properties currently generate annual rental income of EUR 2.44 mln with a potential rent roll upon the letting of vacant buildings of over EUR 3 mln.
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PropertyEU Archive
Investment in German commercial property nears EUR 60 bn
Just under EUR 60 bn was invested in German commercial real estate last year, 20% up on 2006. The transaction volume in the six most important German office locations - Berlin, Cologne, Düsseldorf, Frankfurt, Hamburg, and Munich - posted an even sharper year-on-year rise of 44% in to finish at ...
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PropertyEU Archive
Priam acquires properties in Germany for ISE
Acting on behalf of its Luxembourg-based client Industrial Securities Europe (ISE), Berlin-based Priam Asset Management has made three German logistics acquisitions. The company has spent some EUR 30 mln on plots in Neunkirchen, Melle and Burglengfeld. The total area of the parcels is 105,000 m[sup]2[/sup].
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PropertyEU Archive
Zublin buys office complex in Lyon for EUR 53m
French-listed SIIC Zublin Immobiliere France has acquired an office complex in Lyon for EUR 53 mln. The property provides some 15,500 m[sup]2[/sup] of space with 420 parking places and has an initial net rental yield of 6%.
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PropertyEU Archive
Skanska to build new residential area in Oslo for EUR 46.5m
Swedish construction company Skanska has received its first contract from Norwegian residential development company Fornebu Boligspar for the expansion of the new Fornebu residential area in Oslo. The project comprises a total of 26,000 m[sup]2[/sup] and the contract for NOK 365 mln (EUR 46.5 mln) is included in order bookings ...
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PropertyEU Archive
Union Investment expands in Central and South America
Hamburg-based Union Investment Real Estate has continued its strategy of expanding in 'up-and-coming overseas property markets' with the acquisition of two properties in Central and South America for a total of EUR 73 mln.
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PropertyEU Archive
ING Real Estate acquires French developer Geo-de
ING Real Estate has announced the acquisition of French property developer Geo-de for an undisclosed amount. The addition of the residential, office and retail developer active in the Lyon region will give ING Real Estate a larger presence in what it considers a key region in the French market. The ...
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PropertyEU Archive
Positive Q4 figures could derail VastNed Retail takeover plans
Dutch-listed property fund VastNed Retail has announced an increase of over 6% in the value of its investment property portfolio over the final quarter of 2007. As a result, the company has said it expects a fourth quarter indirect investment result of around EUR 4.80 per share. The figures are ...
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PropertyEU Archive
Jaguar pounces on prime office space in London
Irish private wealth manager Jaguar Capital has purchased the London headquarters of legal firm SJ Berwin at 10 Queen Street Place from a Norwich Union fund. The financial details were not disclosed but CB Richard Ellis said the original guide price was £180 mln (EUR 236 mln). A report in ...
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PropertyEU Archive
BBEIF acquires strategic stake in Forth Ports
UK-managed Babcock & Brown European Infrastructure Fund (BBEIF) has acquired further shares in Forth Ports, bringing its current shareholding to 20.4%. The investment is BBEIF’s second in Forth.
