Latest reports – Page 3584
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PropertyEU Archive
Martinsa-Fadesa sells 50% of Moroccan unit
Spanish property group Martinsa-Fadesa is selling a 50% stake in its Moroccan unit, Fadesa Maroc, to the Casablanca-listed property company Addoha. The transaction will be carried out through the sale of EUR 114 mln worth of shares and will be completed by January 1, 2007.
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PropertyEU Archive
New Star cuts UK fund's value by 18%
Fund manager New Star has cut the value of its flagship UK property fund by 8.2%, taking the total reduction since July to 17.8%. The move, which reflects falling confidence in the UK real estate sector, follows the revelation last week that several open-ended funds have imposed redemption limits on ...
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PropertyEU Archive
Aisa in talks to merge with Hemeretik
Catalan listed real estate company Aisa has said that it is in merger talks with Barcelona-based construction group Hemeretik. The company added that no agreement has yet been reached but the companies have set a deadline of 30 June next year to decide whether to proceed with a merger or ...
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PropertyEU Archive
SEB ImmoInvest adds Japanese office to Asian portfolio
SEB Immobilien-Investment has acquired the New City Tama Center in Tama, southwest of Tokyo, for its mutual fund SEB ImmoInvest. The total investment volume for the property sold by New City Corporation comes to EUR 120 mln.
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PropertyEU Archive
GE Real Estate spends EUR 205m in Germany
GE Real Estate has acquired a portfolio of primarily commercial properties in Germany from several institutional investors for EUR 205 mln. The portfolio comprises 31 properties with a total area of 170,000 m[sup]2[/sup] located mainly in the east of the country (Berlin and the states of Saxony and Thuringen). Some ...
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PropertyEU Archive
San Jose sells 12% stake in Parquesol for EUR 107m
Spanish property group San Jose has sold a 12% stake in real estate company Parquesol to Labaro for EUR 22.50 per share. The sale, for a total EUR 107 mln, cuts San Jose's stake in Parquesol to just under 51%. In a statement, Parquesol said the transaction was aimed at ...
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PropertyEU Archive
Citycon to invest EUR 130m in Estonian mall
Finnish property firm Citycon has said it will invest EUR 39 mln in the second and third phases of the redevelopment of the Rocca al Mare shopping centre in the Estonian capital of Tallinn. Citycon's total investment in the mall will be about EUR 130 mln, consisting of a EUR ...
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News
NAEV to cut direct real estate
GERMANY – The €8.5bn doctors’ fund Nordrheinische Ärzteversorgung (NAEV) will cut its direct real estate holdings in Germany in an overhaul of its property investments.
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News
Spikker leaves PGGM for ABP
NETHERLANDS - PGGM’s Hans Spikker is to join ABP at the end of 2007 as manager of its non-listed European real estate portfolio.
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News
Henderson names first German client relationship team
GERMANY – Sylvia Seeger has been named as the first German-language client relationship manager at Henderson’s German operations in Frankfurt.
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News
ATP to increase property allocation against inflation
DENMARK - ATP, the DKK438bn (€59bn) Danish Labour Market Supplementary pension fund, is to increase its property and infrastructure allocation to half of its inflation-protected portfolio.
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News
CEE ‘more stable than Europe elsewhere’
EUROPE - Central and Eastern Europe is not immune from the effects of the global credit crisis according to Eurohypo, despite claims the region is insulated from global shocks.
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News
Risk-conscious investors take the road to Berlin
GERMANY - Germany has overtaken France and the UK as the primary mature European target market for overseas and domestic real estate investors, according to research.
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News
Jelmoli ups ante in Swiss saga
EUROPE - In the latest round of an aggressive game of brinkmanship, Swiss retailer Jelmoli is to sue Delek for breach of contract after the London-listed Israeli property firm’s pulled out of a deal to acquire Jelmoli’s 88-property Swiss portfolio.
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News
Entity level investing attracts more pension fund capital
UNITED STATES – US pension funds are showing increased interest in moving capital to commingled funds that make entity-level investments, as two major funds have invested in funds holding direct property.
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News
Texas Teachers to grow real estate staff
UNITED STATES - Teacher Retirement System of Texas is looking to grow its real estate staff as it mover closer to its 10% allocation for real estate.
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News
CalSTRS and ING Clarion set up value-added JV
UNITED STATES - California State Teachers Retirement System and ING Clarion Partners have created a value-added investment joint venture called INGCal Tactical.
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News
US pensions scrutinise apartments
UNITED STATES - Pension funds in the United States are going to be taking a closer look at placing some capital into apartments as officials believe there will be stronger renter demand for apartments in the near-term.
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News
Harrison Street pairs up for medical offices
UNITED STATES - Harrison Street Real Estate Capital has formed a joint venture with Montecito Medical Investment Company to buy ownership of medical office buildings.
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News
CalWest assets reduce to $473m
UNITED STATES - California Public Employees Retirement System (CalPERS) and RREEF are working together at present to manage the real estate assets on the CalWest Industrial Investors LLC, but assets are now substantially lower following an earlier sale of properties.
