Latest reports – Page 3581
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PropertyEU Archive
Alstria Office buys German office portfolio
Hamburg-based Alstria Office REIT is buying a portfolio of five office properties in Germany from insurance group Huk-Coburg and its subsidiaries. The transaction volume is EUR 53 mln, or EUR 1,791 per m[sup]2[/sup]. The properties will be leased back to the German insurer for an annual lease of EUR 3.3 ...
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PropertyEU Archive
Warburg Henderson picks up assets in France
Henderson Global Investors has acquired seven commercial assets in France from Societe de la Tour Eiffel for a total of EUR 36 mln. The transaction reflects a net initial yield of 7%. The portfolio of mixed properties are earmarked for the fund Warburg - Henderson Multinational Plus.
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PropertyEU Archive
Milligan teams up with Blackstone in retail JV
UK retail developer Milligan is joining forces with US private equity group Blackstone in a joint venture to invest up to £500 mln in shopping centres in the UK. The deal involves Blackstone providing the majority of the funds to the joint venture with Milligan co-investing.
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PropertyEU Archive
SEB acquires Potsdamer Platz portfolio
SEB Asset Management has acquired the Quartier Potsdamer Platz portfolio in Central Berlin from German car maker Daimler. The portfolio comprises 19 properties with a total space of about 285,000 m[sup]2[/sup]. Office and administrative space account for 42% of the lettable area, while 22% is for retail use. The remaining ...
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PropertyEU Archive
Unite sells UK assets to USAF fund, Morley for £241.7m
Unite Group, a provider of student accommodation in the UK, has completed the sale of assets worth £220.3 mln (EUR 334 mln) to the Unite UK Student Accommodation Fund (USAF) which it established in 2006. The company said it also sold leased assets worth £21.4 mln to UK peer ...
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PropertyEU Archive
GE, Pirelli, Calyon buy EUR 2.6 bn NPL portfolio
GE Real Estate has teamed up with Pirelli RE and Calyon to acquire a EUR 2.6 bn portfolio of non-performing loans (NPL) originated by Banca Antonveneta and its subsidiary Interbanca. GE is buying a 50% stake in the portfolio, while Pirelli RE is taking a 16.5% interest through its joint ...
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PropertyEU Archive
Cordea Savills fund achieves final closing
Property fund manager Cordea Savills announced the final closing on Monday of its Italian Opportunities II fund. The fund, which targets net returns of 20% per annum, raised over EUR 360 mln of equity from institutional investors in two closings.
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PropertyEU Archive
Balfour Beatty reaches close for £163m Knowsley PPP development
UK construction and services group Balfour Beatty said on Monday that that its specialist education Private Public Partnership (PPP) company, Transform Schools, has reached financial close for the £163 mln (EUR 228 mln) Knowsley Private Public Partnership (PPP) concession to construct seven new learning centres under the Building Schools for ...
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PropertyEU Archive
Spanish region signs draft agreement for 'European Las Vegas'
Europe's largest casino complex is to be developed in Spain's semi-arid Los Monegros desert in an attempt to emulate the entertainment and gambling industry in Las Vegas. The regional government of the Spanish province of Aragon signed a draft agreement last week with an international consortium of developers to build ...
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PropertyEU Archive
Liverpool deal falters as proposed buyer 'disappears'
Gresham House, UK property investment company, has confirmed that it has lost contact with the proposed buyer of Speke Boulevard in Liverpool. The British investor announced in September that it had signed non-binding heads of terms with an unnamed party the for sale of the building. The purchase price was ...
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PropertyEU Archive
Llanera to sell large plot to Bancaja to ease debt problems
Valencia-based property company Llanera is to sell a large plot of land for EUR 55 mln to the Spanish savings bank Bancaja. The sale is part of a move by the 0Spanish property firm which filed for protection from creditors two months ago to cut its EUR 700 mln debt ...
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PropertyEU Archive
Tremon pulls plug on IPO plans
Spanish property firm Tremon has scrapped its planned initial public offering (IPO) because investors are not willing to pay the offer price. The company postponed the IPO on two previous occasions in the hope of achieving better conditions. But Tremon has now decided that the listing cannot go ahead in ...
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PropertyEU Archive
Commerz Real buys in Singapore
Commerz Real is entering Singapore with the acquisition of the 78 Shenton Way estate for a total EUR 324 mln. The property, with a gross floor area of about 33,000 m2, consists of a 34-storey office building, called the North Tower, and the South Tower, a seven-storey project development. The ...
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PropertyEU Archive
Skanska invests EUR 82m to develop trio of assets
Swedish construction and property group Skanska said it is investing about SEK 770 mln (EUR 82 mln) to develop a logistics facility in Gothenburg, Sweden and an office and media centre in Stockholm. Skanska said it is investing SEK 520 mln for an 18,000-m[sup]2[/sup] office and media house to be ...
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PropertyEU Archive
Trigon Property to issue up to EUR 127m in shares to fund Baltic shopping centre
Estonian property developer Trigon Property Development said it plans to issue up to EUR 127 mln in shares to fund construction of a shopping centre development project near the Estonian capital Tallinn. Trigon is entering what is known as The Gate Tallinn Project through a strategic partnership with Chester Universal ...
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PropertyEU Archive
Cash position of Aviva property fund drops by 50%
British insurer Aviva is to announce a near halving in the cash position of its £3.2 bn (EUR 4.4 bn) property fund as investors continue to call for redemptions, newspaper the Telegraph reported on Friday. Aviva's property fund management arm Morley is to announce that it now has just 7.5% ...
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PropertyEU Archive
Colonial sells EUR 155m of assets to reduce debt
Spanish real estate company Inmobiliaria Colonial is carrying out a series of disposals to reduce the company's debt of EUR 8.9 bn. The property giant has agreed to sell an office building in Madrid to ING RE for EUR 80 mln and is selling assets in Barcelona to Spanish peer ...
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PropertyEU Archive
IPD UK monthly index hits record low
Total returns on the IPD UK Monthly Index fell by a massive 3.6% in November - the fourth consecutive monthly fall. This was also the worst monthly total return on record, beating the -1.8% recorded in May 1990 by some distance. The year-to-date return now stands at -1.8%, indicating a ...
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PropertyEU Archive
Testa sells two shopping centres in Spain
Spanish property company Testa Inmuebles en Renta has agreed to sell the Fresnos de Gijon shopping centre in Spain's Asturia region and the Lakua de Vitoria mall, also in northern Spain, for a total of EUR 65 mln.
