Latest reports – Page 3595
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News
Texas Teachers invest in land banking
UNITED STATES - Teacher Retirement System of Texas has approved a commitment of $150m ($101.4m euros) into the Stratford Land Fund III commingled fund, as there is now less appetite for building physical developments.
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News
Infrastructure will escape credit crunch
GLOBAL - Continuing pension fund appetite will help infrastructure escape the current credit squeeze, despite pressure on the credit quality of infrastructure assets, according to Standard & Poor's.
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News
Apartments hit most by market shift – Pramerica
UNITED STATES - Pramerica Real Estate Investors is predicting the apartment market will be the most affected of all major property types by the recent changes in the residential housing and credit markets.
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News
US pensions shift further into structured finance
UNITED STATES – Increased pension fund capital in the United States is expected to flow into structured finance over the coming months, following moves by two schemes to invest in the sector.
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PropertyEU Archive
Redevco Italy buys in Bari and Brescia
The Italian arm of Dutch property company Redevco has acquired the landmark Rinascente retail property in the southern Italian city of Bari from a private investor for about EUR 50 mln. The 50,000 m[sup]2[/sup] Rinascente Building' is located in the city's prime shopping district Via Sparano and is Redevco's first ...
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PropertyEU Archive
Wichford moving to main section of London Stock Exchange
Wichford, the Isle of Man registered property investment company, has cancelled its listing on London's AIM in order to move onto the London Stock Exchange's (LSE) Official List. The cancellation will take place simultaneously with admission of the company’s shares to be traded on LSE’s main market on or around ...
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PropertyEU Archive
Delek Global posts confident Q3 figures
Delek Global Real Estate (DGRE) said on Monday that its third-quarter results for the three months ending on 30 September were 'in line with management's expectations'. Net asset value rose 5% to £642.2 mln or 242 pence per share from £610.9 mln or 230 pence per share at 30 June, ...
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PropertyEU Archive
Granen sells Stockholm mall development to DnB NOR
Swedish developer Granen, advised by Savills, has sold the Pentagonen 1 shopping centre to Norwegian property fund DnB NOR Eiendomsfond I for EUR 40 mln. Construction work began this summer and when completed in September 2008, the shopping centre in the retail area Kungens Kurva, south of Stockholm, will comprise ...
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PropertyEU Archive
CA Immo buys into Warimpex's Airportcity project
Vienna-based Warimpex has sold 25% of the shares in Avielen, the company developing the Airportcity project in conjunction with St. Petersburg Airport, to CA Immo International. The multi-use project will comprise a four-star 300-room Crowne Plaza hotel as well as three office buildings with about 40,000 m[sup]2[/sup] of lettable space. ...
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PropertyEU Archive
Punch Taverns denies report of Michells & Butlers talks
Leading UK pub company Punch Taverns has issued a statement denying reports that it has approached Mitchells & Butlers (M & B) to discuss a merger. UK newspaper The Times reported on Saturday that the two companies were in talks to bring about a EUR 7 bn merger that would ...
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PropertyEU Archive
DTZ sells the former Canadian Embassy in Rome
The former Canadian embassy building in Rome has successfully been sold by DTZ's investment agency for over EUR 19 mln. Acting on behalf of the Canadian Embassy DTZ negotiated the deal with Aled Spa, a real estate group on Rome's market led by the entrepreneur Eduardo Salvador Safdie. The five-storey ...
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PropertyEU Archive
Big Yellow and Pramerica funds in EUR 208m joint venture
UK self-storage group Big Yellow has teamed up in a £150 mln (EUR 208 mln) partnership with funds managed by Pramerica Real Estate Investors to develop up to 25 stores in the Midlands, the North of England and Scotland.
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PropertyEU Archive
Sainsbury in EUR 110m sale and leaseback of depots
UK supermarket group Sainsbury's has divested two distribution warehouses this month in sale-and-leaseback deals worth a total of about EUR 110 mln. Two months ago Sainsbury's announced it would not be selling off the majority of its substantial property holdings - mainly comprising its supermarket premises - as part of ...
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PropertyEU Archive
Rowan transfers property management to Imoplan and Skim
Rowan Asset Management announced on Friday that it has awarded a contract to a joint venture of Imoplan and Frankfurt-based Skim for the property management of the EUR 180 mln Andreas property fund in Germany. Rowan acquired the private equity German property fund in March 2006. The 100,000 m[sup]2[/sup] portfolio ...
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PropertyEU Archive
M&G property fund limits institutional investor redemptions
M&G, the EUR 1.04 bn offshore UK property fund, confirmed Friday that it is now requiring institutional investors to provide 90 days notice before redeeming investments, but denied a report in the Financial Times that the move was necessary to conduct an emergency sale of property assets.
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PropertyEU Archive
Dutch retailer rules out mass sell-off of retal estate
Dutch supermarket operator Ahold has decided not to engage in a major sell-off of its property after a review of its global real estate assets established that the market value of its portfolio was EUR 900 mln more than the book value of EUR 4.7 bn. 'The review clearly showed ...
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PropertyEU Archive
Commercial property values will hold up as economy slows, say Irish CEOs
Seventy five percent of Irish chief executives polled in the 10th annual survey of the Top 1,000 CEOs by property advisor CB Richard Ellis said they were less optimistic about Irish economic prospects in the short to medium term than they were 12 months ago. Some 52% of survey ...
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PropertyEU Archive
Santander books EUR 800m capital gains from office sale
Spanish bank Santander has sold an network of almost 1,200 bank premises to Sun Capital Partners, insurer Pearl Group and Drago Real Estate Partners for EUR 2 bn. The bank said it has booked EUR 800 mln in capital gains from one of the largest commercial real estate transactions in ...
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PropertyEU Archive
Degi invests EUR 41m in Brussels office property
Property fund company Degi Deutsche Gesellschaft fur Immobilienfonds has purchased a fully-let office building in central Brussels on behalf of its Degi International fund for a total investment of EUR 41.2 mln. The finance department of the Belgian government currently occupies the 12-storey building in Avenue Louise, with 26,405 m[sup]2[/sup] ...
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PropertyEU Archive
London retains financial crown - DLA Piper
London will retain its position as the world's leading financial centre despite current market conditions, according to a survey of more than 100 of the leading real estate directors in the UK. The survey was conducted with chief executives, chief financial officers and directors who recently attended a real estate ...
