Latest reports – Page 3583
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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
QPG's Dunlop wins Czech award
Roger Dunlop, CEO of Quinlan Private Golub (QPG) has been named Personality of the Year 2007 for the Czech Republic at the annual Central European property awards hosted by Construction & Investment Journal. The award was presented at a reception on 29 November at the Prague Marriott Hotel.
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PropertyEU Archive
Prologis secures new EUR 900m credit facility
Prologis European Properties (PEPR), Europe's largest owner of modern distribution facilities, said on Wednesday that it has established a new EUR 900 mln senior unsecured credit facility. The credit line was arranged through a syndicate of 19 banks led by Bank of America Securities and ABN Amro.
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PropertyEU Archive
Degi spends EUR 122m in Rome
German property fund company Degi has acquired an office project in Rome for its Degi International fund from Parsitalia for EUR 122 mln. The 17,600 m[sup]2[/sup] building will be the headquarters for Procter & Gamble's Italian business when it is completed by late 2008. Cushman & Wakefield advised the ...
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PropertyEU Archive
GLL buys shopping mall in Poitiers
Germany's GLL Real Estate Partners has announced the acquisition of Les Cordeliers shopping centre in the French city of Poitiers on behalf of its GLL Retail fund. Financial details were not disclosed.
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PropertyEU Archive
Gecina expands its student accommodation holdings
French property company Gecina has acquired the Euralille Tour V in Lille as part of its strategy to expand in the student residence segment. The transaction price of EUR 14.2 mln reflects a yield of more than 7%.
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PropertyEU Archive
Doughty Hanson sells EUR 700m of property in three days
Doughty Hanson has announced it is selling the Maciachini Center office development in Milan, bringing the UK property fund manager's total sales volume to almost EUR 700 mln in just three days.
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PropertyEU Archive
Plaza acquires 3rd retail development in Serbia
Plaza Centers said on Wednesday that it had acquired its third retail development in Serbia and that the estimated development budget for the 40,000 m[sup]2[/sup] shopping and entertainment centre in Belgrade was EUR 105 mln.
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PropertyEU Archive
Teorema postpones listing
Cypriot-registered real estate development and management company Teorema Holding postponed its IPO plans this week, blaming 'current market conditions'. Teorema Holding is the parent company of the Teorema Group, which owns over 80,000 m[sup]2[/sup] of commercial space in St. Petersburg in addition to 9,600 m[sup]2[/sup] of warehouse space. Future development ...
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PropertyEU Archive
CB Richard Ellis welcomes new Irish budget
The 2008 Irish budget has been welcomed by the property industry, according to property consultant CB Richard Ellis (CBRE). Characterising it as a prudent budget, the company declared it would support property market performance in the medium term. Marie Hunt, director of research at CBRE, Ireland commended minister Brian Cowen ...
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PropertyEU Archive
Spazio sheds Italian assets for EUR 37m
Spazio Investment has announced the sale of 39 buildings in Veneto on behalf of its Italian closed-end real estate fund Spazio Industriale. The buildings are currently leased to Telecom Italia and will be sold to local investors for a total EUR 31.3 mln , representing a 3.4% premium to open ...
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PropertyEU Archive
VGP launches IPO on Euronext and Prague Stock Exchange
VGP, the Czech real estate development and management group focusing on semi-industrial property in Central Europe, has allocated EUR 55 mln in shares through listings on Euronext and the Prague Stock Exchange. Priced at EUR 15.25 per share, the company offered more than 3.3 million new shares with just over ...
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PropertyEU Archive
Ford reappoints C&W as real estate partner
Ford Motor Company has extended its contract with Cushman & Wakefield as its preferred real estate partner for the EMEA and APAC regions for a further two years.
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PropertyEU Archive
Alstria Office buys German assets for EUR 111m
Hamburg-based Alstria Office REIT is to acquire a portfolio of 13 German properties for EUR 111 mln in the company's second transaction since converting to the German equivalent of a real estate investment trust in October. The price reflects a net initial yield of 6.9%.
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News
Philips scheme dismantles real estate portfolio
NETHERLANDS – The besieged €14.6bn pension scheme of Dutch electronics major Philips has sold around 15% of its real estate holdings to Dutch real estate investment fund Vesteda.
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PropertyEU Archive
Stam Europe buys six assets for EUR 72m
Paris-based real estate investment banking firm Stam Europe has acquired a private company that owns a portfolio consisting of six office and logistics assets in the Paris region. The properties provide a total surface area of 40,000 m[sup]2[/sup] and have an occupancy rate of 90%.
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PropertyEU Archive
Germany's NAEV and Danish fund ATP adjust RE allocation
Nordrheinische Arzteversorgung (NAEV), the EUR 8.5 bn German doctors' fund, plans to overhaul its property investments by cutting its direct real estate holdings in Germany. According to IPE Real Estate, the fund's property portfolio is currently split between its direct domestic real estate holdings, valued at EUR 675 mln, and ...
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PropertyEU Archive
Hines' Pan-European fund acquires 15 Suffolk St in London's West End
Hines' Pan-European Core Fund (HECF) has acquired a prime West End office building in London from Arab Investments for an undisclosed sum. Located at 15 Suffolk Street in St. James, the property is the fund's first asset in the London office market. It is fully leased to boutique investment manager ...
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PropertyEU Archive
Babcock & Brown sells 70% of Swiss retail portfolio to jv
International investment and specialised fund and asset management group Babcock & Brown has formed a joint venture with a European high net-worth investor. 'The divestment represents approximately EUR 233 mln of the EUR 750 mln in real estate held for sale,' said Eric Lucas, global head of real estate at ...
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PropertyEU Archive
Schroders launches new retail/logistics fund in Italy
Global asset management Schroders has launched its second closed-end property fund in Italy focusing on the retail and logistics sectors. The Schroder Italian Property Fund No. 2 will target a portfolio of between EUR 600 mln and EUR 750 mln. The new fund will provide institutional investors with the opportunity ...
