Latest reports – Page 3579
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PropertyEU Archive
AXA REIM buys Dutch office tower for EUR 66m
AXA Real Estate Investment Managers has purchased the Kennedy Tower in the Southern Dutch city of Eindhoven from Heijmans Property Development and Hurks Property Development for EUR 66 mln.
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PropertyEU Archive
Accor sells 57 hotels in France and Switzerland for EUR 518m
French hotel group Accor has sold 47 hotels in France and 10 in Switzerland to a consortium including Caisse des Depots et Consignations and AXA REIM for EUR 518 mln. The Novotel, Mercure, Ibis, All Seasons and Etap Hotel properties involved in the transaction have a total of 8,200 rooms.
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PropertyEU Archive
Sponda acquires Finnish mall development for EUR 62m
Sponda, the Helsinki-based real estate investment company, has purchased the Elovainio shopping centre development in the western Finnish town of Ylojarvi from developer Rakennustoimisto Palmberg for EUR 62 mln. The vendor will continue to be responsible for building the shopping centre and will arrange financing during construction. Sponda will pay ...
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News
CalPERS ups real estate allocation by 2%
UNITED STATES - The California Public Employees’ Retirement System (CalPERS) has increased its allocation to real estate by 2%, to provide around $4bn (€2.88bn) of extra investment into the sector.
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PropertyEU Archive
Alstria Office REIT hits investment target for 2007
Hamburg-based Alstria office REIT has signed an agreement to acquire an office building in Berlin for EUR 55 mln. Located in Berlin-Charlottenburg, the property has a total lettable area of 22,500 m[sup]2[/sup] and is fully let to Deutsche Rentenversicherung, Europe's largest state pension insurer, until mid-2012.
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PropertyEU Archive
Corio opens shopping centre in Turkey
Dutch-listed property investor Corio has opened its first shopping centre in Adapazar, Turkey. The ADA shopping centre was due to open in 2008, but as a result of close cooperation between Corio and local developer Miratur, it opened its doors to the public on 15 December 2007.
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PropertyEU Archive
Kroonenberg acquires major retail portfolio from Philips Pension Fund
Dutch property company Kroonenberg has acquired a retail portfolio from Philips Pension Fund in the largest retail property transaction in the Netherlands this year. While both parties and their advisors did not reveal the transaction price, market sources suggested it was in the region of EUR 400 mln.
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PropertyEU Archive
Fitch: 2008 European RMBS outlook uncertain
The outlook for European Residential Mortgage-Backed Securities (RMBS) is more uncertain than in previous years for all European countries following the credit crunch, Fitch Ratings said in its '2008 Global Structured Finance Outlook' report published on Wednesday.
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PropertyEU Archive
XXI Century Investments gets go-ahead for hypermarket in Kiev
Ukrainian developer XXI Century Investments has received a construction permit for the Kvadrat-Myloslavska shopping centre in Kiev. The centre will have a total area of around 54,000 m2, with a GLA of approximately 34,500 m[sup]2[/sup]. It will also include multi-level parking for 1450 cars.
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PropertyEU Archive
Capman acquires two retail properties in Turku
Finnish real estate company Capman has acquired two retail properties in Turku, southern Finland, from Niam Fund III and the Whitehall Street Real Estate Funds for an undisclosed amount. The properties were acquired through the company's Capman RE II fund.
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PropertyEU Archive
Redevco commits to green standards
Dutch investor and developer Redevco has announced an ambitious programme of green retail projects across Europe as part of its commitment to improving the energy efficiency of its operations and to accelerate green design. The company is currently preparing 11 green development projects in Belgium, France, Germany, the Netherlands and ...
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PropertyEU Archive
Pierre et Vacances to invest EUR 137m in Center Parc in France
French hotel chain Pierre et Vacances plans to invest EUR 137 mln to develop its fifth Center Parc holiday village in France, financial newspaper Les Echos reported. The new village will be located in Roybon in the Isere region. It will be the company's 17th Center Parc altogether, and will ...
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PropertyEU Archive
Italian investor snaps up Grand Hotel in Rimini for EUR 65m
Italian hotel entrepreneur Antonio Batani has bought the famed Grand Hotel in Rimini on the Adriatic coast of Italy from disgraced real estate businessman Danilo Coppola for EUR 65 mln. Opened in 1908, the luxury 170-room hotel became famous after serving as the set for several films by film maker ...
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PropertyEU Archive
DTZ shares slump after profit warning
Property advisory group DTZ Holdings warned on Wednesday that its UK and US operations have been hit by the credit crunch and are unlikely to recover in the short term. The company saw its share price drop by more than 12% following the warning which it put down to economic ...
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PropertyEU Archive
Dawnay Day acquires two Hertie stores for EUR 22 mln
London-based finance and property group Dawnay, Day Treveria (DTR) has announced that it is to purchase two Hertie department stores in Germany for a combined sum of EUR 22 mln. DTR will acquire the two properties from Dawnay, Day Group which owns the Hertie chain. The company believes that there ...
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PropertyEU Archive
RHC warns on results, exits UK franchising operations
UK hotel operator Real Hotel Company (RHC) announced on Wednesday that it will exit its UK franchising operations and warned that its full-year results will fall short of management's expectations. The company said that its UK mid-market hotels have under-performed, adding that it has already identified under-performing hotels for disposal. ...
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PropertyEU Archive
JER sells 50% stake in London hotel
Private equity firm JER is selling its 50% stake in the Andaz Liverpool Street hotel in London, formerly the Great Eastern Hotel, to Global Hyatt Corporation. A company spokesperson would not disclose the purchase price, but market reports suggest the deal values the hotel at about £185 mln. In March ...
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PropertyEU Archive
Philip Morris buys into Hungarian business park
Philip Morris's Hungarian subsidiary, Philip Morris Hungary, has concluded the acquisition of a 7,000 m[sup]2[/sup] facility in the East Gate business park in Budapest for an undisclosed amount. The built-to-suit facility, developed by Wallis Real Estate, will be handed over to the cigarette manufacturer at end-2008. Global real estate consultant ...
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PropertyEU Archive
Norwegian Property disposes of non-core asset in Bergen
Norwegian Property has reached agreement on the sale of the Kokstadveien 23 office property in Bergen, Norway's second-largest city, for about NOK 231 mln (EUR 29 mln). The buyer is Aberdeen Pan-Nordic Norway.
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PropertyEU Archive
HSH RE, TAG set up asset management company
German bank HSH's real estate unit is teaming up with German property company TAG to form an asset management company focusing on German commercial property. The two groups, which signed the JV agreement on Monday, said that they will each hold a 50% stake in the new company, which will ...
