Latest reports – Page 3582
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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.
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PropertyEU Archive
Eurobank Properties raises EUR 330m to fund expansion
Greek real estate investment company Eurobank Properties has raised EUR 329.4 mln through a capital increase to help finance expansion in its home country and foreign markets. Following the fundraising, Eurobank said it intends to continue bolstering its already significant presence in Greece, as well as expanding in countries of ...
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PropertyEU Archive
Capital & Regional cuts UK property fund values
Capital & Regional has become the latest real estate asset manager to be affected by the slowdown in UK commercial property. The company said on Friday that the value of units in its £3 bn shopping centre fund - the Mall Fund - fell by 12% in November, while the ...
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PropertyEU Archive
UK property capital values tumble in November
Capital values in the UK property market fell by 4.1% in November, the fourth consecutive monthly decline, according to a report published by CB Richard Ellis. Values have dropped 8.6% from the peak in July and are 5.7% lower than at the beginning of the year.
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PropertyEU Archive
Council backs Trump's EUR 1.4bn Scottish golf resort plan
Aberdeenshire City Council in Scotland has reversed an earlier rejection of the plans by property magnate Donald Trump to construct a £1 bn (EUR 1.4 bn) golf resort in the area. The development is opposed by environmentalists and some residents who say it would have a negative impact on the ...
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PropertyEU Archive
UNITE Group sells EUR338m of assets to USAF, Morley property fund
UK student housing company UNITE Group said it has completed the planned sale of some £242 mln (EUR 338 mln) of assets following the redemption of UNITE Finance One bonds announced in October. The bulk of the assets, worth £220.3 mln, were sold to the UNITE UK Student Accomodation ...
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PropertyEU Archive
Colonial confirms preliminary merger talks with Gecina
Spanish property company Inmobiliaria Colonial has confirmed media reports it is in merger talks with French property group Gecina, which is working through a divorce from another major Spanish property company Metrovacesa.
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News
Enfield mulls real estate update
UK – Concerns about the performance of the UK and European property markets mean the London Borough of Enfield is now looking closely at whether to further diversify its pension fund’s real estate allocation.
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News
Concerns raised as returns drive pensions diversity
GLOBAL - The argument for global diversification is becoming more compelling, but institutional investors are often simply investing according to total return expectations, say industry experts.
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PropertyEU Archive
Arcandor agrees massive property sale with Pirelli-RREEF syndicate
Arcandor, the largest department store owner in Germany, has signed a letter of intent to sell its 49% stake in the EUR 4.7 bn Highstreet real estate company to a syndicate of Deutsche Bank's RREEF unit, Milan-based Pirelli Real Estate and the Italian family-run Borletti Group. Arcandor said earlier it ...
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PropertyEU Archive
Kungsleden completes sell-off Orkla, DnB NOR, upgrades forecast
Swedish property company Kungsleden has completed the sale of 82 Swedish commercial properties to Norwegian asset manager Orkla Finans Kapitalförvaltning and Norwegian investment bank DnB NOR Markets. The company also upgraded its full-year 2007 profit forecast to SEK 1.8 bn (EUR 191 mln) from SEK 1.4 bn (EUR 148 mln).
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PropertyEU Archive
Livermore increases stake in Atlas Estates
Livermore Investments Group has announced that it has acquired 905,000 issued ordinary shares in Atlas Estates to increase its stake in the real estate investment and development company by 1.85% to over 10%. Both Livermore and Atlas are listed on London's junior AIM market.
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PropertyEU Archive
Axa REIM acquires office property in Madrid for EUR 116m
AXA Real Estate Investment Managers, the property investment arm of the French financial group AXA, has acquired an office building in Madrid from Spanish property developer Oncisa for EUR 116 mln. The property was acquired for an unnamed client, AXA said. The parties were advised by Savills. AXA was also ...
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PropertyEU Archive
Balfour Beatty wins £350m British Energy contract
UK construction firm Balfour Beatty said it had won a seven-year contract with a potential annual value of £50 mln (EUR 69.5 mln) a year from British Energy Generation. The contract is for the facility management of British Energy's portfolio of eight nuclear power stations and two office complexes in ...
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PropertyEU Archive
Irish developer launches office project in Bucharest
Irish-based real estate developer Moritz Group has announced the launch of Felix Plaza project, a 35,000 m[sup]2[/sup] office building with 24 floors and a heliport, in Bucharest.
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PropertyEU Archive
Marbleton jv plans EUR 100m Ukraine retail portfolio
Marbleton Property Fund has teamed up with Alfa Bank Ukraine and Griffin Investment Partners to form a joint venture to acquire a EUR 100 mln portfolio of high-street properties in secondary cities in Ukraine. Each of the partners has so far committed EUR 10 mln to the venture called Metropolitan ...
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PropertyEU Archive
Plaza prepares public offering in Tel Aviv
Plaza Centers, a developer focused on Central and Eastern Europe, is filing a draft prospectus with the Israeli Securities Authority and Tel Aviv Stock Exchange (TASE) in connection with a potential public offering of unsecured non-convertible Series B Notes and a listing on TASE.
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PropertyEU Archive
Orchard gets green light for EUR 107m Bulgarian mixed-use project
Sofia-based Orchard Developments has been granted a permit for the construction of Orchid MultiUse Complex, which includes the Grand Mall Varna, in the Bulgarian port city of Varna.
