Latest reports – Page 3576
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PropertyEU Archive
Aberdeen fund acquires office property in Tampere
European fund manager Aberdeen has acquired a large office property in the Finnish city of Tampere on behalf of its Real Estate Fund Finland for an undisclosed amount. The acquisition follows the final closing of the fund in December last year. The office property was built in three phases between ...
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PropertyEU Archive
Degi buys German department store
German fund manager Degi has acquired a department store in the German city of Dorsten from ipe Dorsten Recklinghauser Tor. The transaction volume comes to EUR 21 mln.
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PropertyEU Archive
Banimmo to build new Mobistar HQ
Belgian property company Banimmo is to develop the new headquarters of the telecom operator Mobistar at Evere in the Brussels region. The future head office, which will be located at the 'Da Vinci' business park, will house the major part of the telecom operator's activities currently spread over several sites ...
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PropertyEU Archive
Pramerica buys two office developments in Paris
Prudential Financial's real estate investment management arm Pramerica has bought two office developments in the Paris region from the Lazard Group for an undisclosed amount.
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PropertyEU Archive
ING fund buys prime Helsinki property
ING Real Estate has acquired the Merikortelli building in the centre of Helsinki for EUR 70.5 mln. The mixed-use property - offering both office and retail space - was acquired on behalf of the ING Real Estate Nordic Property Fund. The deal takes the fund's total assets under management to ...
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PropertyEU Archive
ING Real Estate to announce major Dutch office deal
ING Real Estate is buying the portfolio of KFN, one of the largest office property companies in the Netherlands, from Dutch pension fund ABP. The details of what ING Real Estate described as the largest real estate transaction ever in the Netherlands will be revealed by the Dutch real estate ...
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PropertyEU Archive
King Sturge sees UK capital values decline by 7% in Q1
UK property adviser King Sturge has warned that commercial capital values in the UK could fall a further 7% or more in 2008 before stabilising in the second quarter of the year. In its 'UK Property Predictions for 2008' report the real estate consultant said there is a 50% chance ...
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PropertyEU Archive
UK estate agent closes branches, lays off 315
British estate agent LSL Property Services announced on Thursday in a pre-close trading update that it has closed twelve of its branches since September. The company has also cut 315 full-time jobs due to the slowdown in the property market.
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PropertyEU Archive
Colonial sheds 20% in value as shares resume trading
The share price of troubled Spanish property company Colonial dropped more than 20% on Thursday after stock market regulator CNMV lifted a trading suspension. The sharp decline follows a 40% drop in value last week which prompted the resignation of chairman Luis Portillo.
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PropertyEU Archive
Banco Popolare spins off property assets
Italy's Banco Popolare has transferred part of its property business, including EUR 320 mln of real estate properties, to its Immobiliare BPV real estate unit. The subsidiary is to change its name to Immobiliare BP. Auditing firm KPMG has valued the business at EUR 720 mln.
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PropertyEU Archive
Italian bank to sell non-strategic property unit
Italian bank Monte dei Paschi has announced it intends to sell its property unit, Valorizzazioni Immobiliari, and a city-centre building in Rome this year. The bank said that the move is in line with its strategy to dispose of its non-strategic property assets.Valorizzazioni Immobiliari was set up in 2005 explicitly ...
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PropertyEU Archive
Icade buys Mr Bricolage's property unit for EUR 89m
Home improvement retailer Mr Bricolage said on Thursday that it has sold a 95% stake in its property division L'Immobiliere Mr Bricolage to Icade Foncière des Pimonts. The deal values the property assets at just under EUR 89 mln. The move comes follows the launch of a joint venture with ...
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PropertyEU Archive
SHB acquires shopping centre in Regensburg for EUR 58m
Munich-based property company SHB Group has acquired the Koewe shopping centre in the Southern Germany city of Regensburg from an unnamed seller for EUR 58 mln. The mall, developed in 1991 and refurbished in 2006, offers almost 29,000 m[sup]2[/sup] of retail space and 1,200 parking spaces.
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PropertyEU Archive
EstCapital buys Rome development
Italian fund manager EstCapital Sgr has announced two real estate transactions in Rome and Verona. The company said it bought a development site in Castel Romano near Rome from the Geo Ponente fund for EUR 20 mln. The company will develop a 24,500 m[sup]2[/sup] commercial and logistics property on ...
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PropertyEU Archive
Deutsche Land buys retail portfolio for EUR 69m
Deutsche Land has acquired a portfolio of 16 retail properties in Germany for EUR 69 mln, reflecting a net initial yield of 6.4%. The London-listed property investment company said that the portfolio was acquired with financing in place which gives a return on equity of 8.4%. The properties are situated ...
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PropertyEU Archive
Tishman Speyer, Commerz Real to develop Frankfurt tower
Tishman Speyer and Commerz Real said on Thursday that they intend to build a 135-metre skyscraper on the Kaiserkarree site they bought in Frankfurt's banking district from Commerzbank. Construction is due to start this spring, with completion scheduled for early 2011.
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PropertyEU Archive
Sonae Sierra sells 50% of LoureShopping to Deka
Portuguese retail property specialist Sonae Sierra has completed the sale of 50% of the LoureShopping mall to Deka Immobilien Investment, a German real estate fund manager, for EUR 65 mln.
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PropertyEU Archive
XXI Century Investments to build first mall in Crimea
XXI Century Investments has been granted a permit to build a 45,000 m[sup]2[/sup] shopping centre in the Ukrainian port city of Sevastopol. The Kvadrat mall will be the first shopping centre developed by the company outside Ukraine's capital region.
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PropertyEU Archive
RREEF acquires EUR 100m trophy asset in Milan
RREEF Real Estate has agreed to acquire a central Milan office block for EUR 100 mln from Patrimonio Uffici, a fund managed by the Pirelli Group. The 14,266 m2-property located in the central business district near the city's historic Duomo and the Sforzesco Castle consists of offices and seven retail ...
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PropertyEU Archive
Tecla sells three Italian assets
Tecla Fondo Uffici, a Milan-listed office fund managed by Pirelli Real Estate, has completed the sale of three property assets for a total volume of EUR 71 mln to an unnamed buyers.
