Latest reports – Page 3597
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PropertyEU Archive
Sellers' syndicate bids for 10% stake of Conwert
A syndicate confirmed on Wednesday that it intends to make a voluntary public bid for up to 10% of listed Austrian real estate company Conwert Immobilien. The bidding group, known as Albertgasse 35 Beteiligungs, was formed by the sellers of 25 property management and property service companies being acquired by ...
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PropertyEU Archive
Intervest Retail sells asset for EUR 10m below book price
Belgian property investment fund Intervest Retail has sold its factory outlet centre in Messancy, Luxembourg for EUR 12 mln. The management of the fund said that it expects the sale will strongly improve Intervest Retail's operating result despite the fact that the sale price was EUR 10.5 mln below the ...
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PropertyEU Archive
Gran Sasso mall opens in Italy
Foruminvest Italia's new Gran Sasso shopping centre opens its doors on Thursday. The one-level shopping mall is located in Teramo near Gran Sasso mountain. The mall comprises 100 retail units on 36,000 m[sup]2[/sup]. There is also 5,000 parking places and a 7,000 m[sup]2[/sup] Conad Le Clerc hypermarket. Major tenants in ...
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PropertyEU Archive
Hypo provides EUR 45m financing for Ablon
Hypo Real Estate Bank International announced on Wednesday that it has provided a EUR 45 mln facility to Ablon Group, the AIM-listed developer and real estate investor in Central and Eastern Europe. The facility will be used to refinance a portfolio of two office buildings located in Budapest and an ...
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PropertyEU Archive
'Serious' shortage of modern office space in the Netherlands
The shortage of high-quality, modern office space in the Netherlands is taking on serious proportions, according to the latest annual survey of the commercial property market carried out by publishing and research company PropertyNL and the association of Dutch developers Neprom.
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PropertyEU Archive
Lack of investment grade retail centres in Turkey - DTZ
Turkey is one of the most attractive markets for global real estate funds, but the lack of investment grade retail assets remains a major concern to retail investors, according to DTZ. In its Turkish retail market overview for 2007, the global property adviser notes that the number and value of ...
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PropertyEU Archive
WP Carey acquires Lindenmaier's global HQ
US investment firm WP Carey has acquired the global headquarters and largest production facility of German auto parts manufacturer Lindenmaier for an undisclosed sum. Lindenmaier is leasing back the property and a separate industrial warehouse on a long-term basis. WP Carey is also providing EUR 21.8 mln in financing ...
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PropertyEU Archive
Klemurs to acquire 112 retail outlets for EUR 153m
French property company Klemurs, part of the Klepierre group, has reached agreement with Fonciere Montel on the acquisition of 112 retail outlets for an estimated EUR 153 mln. The retail properties are operated by the Defi Mode chain and other nationwide brands and are either owned outright or held under ...
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PropertyEU Archive
Deka Immobilien sells office building in Lyon
Deka Immobilien's fund Westinvest I has sold the Atrium office building in Lyon, France, for some EUR 68 mln. The property has been acquired by UFG REIM. The building consists of 16,160 m[sup]2[/sup] of office space as well as 453 parking spaces. Delivered in 2005, the Atrium has an occupancy ...
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PropertyEU Archive
Redos sets up new retail unit
Germany's Redos Real Estate said on Tuesday that it has launched a new retail unit under the name Redos Retail Asset Management (RRAM). Besides private equity investments in property portfolios and real estate projects, Redos RE will now offer retail-oriented asset management for its own co-investments and third investors, the ...
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PropertyEU Archive
Prologis to develop first distribution facility in Middle East
Prologis announced plans on Tuesday to develop its first distribution centre in the Middle East. The company has signed an agreement to design and build a 798,000 sq ft (74,000 m2) facility in Dubai for the transportation solutions provider Aramex. The new facility is being developed in Dubai Logistics City ...
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PropertyEU Archive
GE RE acquires £2b loan portfolio
GE Real estate has acquired a high-quality portfolio of about £2 bn (EUR 2.8 bn) in performing commercial property loans from Bradford & Bingley. The portfolio comprises loans to a group of over 100 borrowers, many of whom are well known names in the property industry. 'GE RE's management team ...
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PropertyEU Archive
Plaza Centers makes first acquisition in Bulgaria
Israeli company Plaza Centers has made its first investment in Bulgaria through the acquisition of a retail development project in Shumen, a city in the northeast of the country. The development costs of the new shopping and entertainment centre are estimated at EUR 38 mln.
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PropertyEU Archive
RICS: investor confidence at four-year low
Tenant demand for commercial property was pulled down by a weak retail sector in the third quarter as investors shunned the market, according to the RICS Commercial Property Survey for the third quarter of 2007. For the first time in over two years there were more chartered surveyors reporting a ...
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PropertyEU Archive
Martinsa Fadesa set to sell EUR 1 bn of land
Martinsa Fadesa CEO Carlos Vela said on Monday that the Spanish property group is in talks with seven international real estate funds to sell land worth about EUR 1 bn. The proceeds from the sale will be used to reduce the company's debt, which stands at EUR 2.5 bn according ...
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PropertyEU Archive
Erinaceous COO and executive deputy chairman resign
Listed UK property services company Erinaceous announced on Tuesday that executive deputy chairman Neil Bellis and chief operating officer Lucy Cummings have resigned from the company board. Bellis, the former chief executive, and Cummings had been the focus of shareholder dissent earlier this year. The hedge fund Fursa Alternative Strategies, ...
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PropertyEU Archive
Skanska develops mixed-use project in Stockholm
Skanska is developing and selling a combined office and residential project in Hammarby Sjöstad in Stockholm. The total price tag amounts to about SEK 450 mln (EUR 48 mln). Developed by Skanska Sweden, the project consists of a residential building with 80 apartments and a 6,000-m[sup]2[/sup] office building. These are ...
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PropertyEU Archive
Orco Germany graduates to regulated market in Frankfurt
Orco Property Group announced on Tuesday that shares in its German subsidiary have been admitted to the regulated market of the Frankfurt Stock Exchange. Orco Germany's entire share capital, or about 49 million shares, has been listed on the exchange's open market since 2006. The new listing gives the company ...
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PropertyEU Archive
Europa Capital shops in Oslo and Birmingham
Europa Capital, acting on behalf of its Europa Fund II, has completed the acquisition of an office building at Olaf Helsets Vei 5 (OH5) in southeast Oslo from Acta, the Oslo municipality pension fund, for NOK 569 mln (EUR 71 mln). OH5 provides 44,000 m[sup]2[/sup] of office, educational, light industrial ...
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PropertyEU Archive
Henderson's retail fund raises EUR 280m in 2nd closing
Asset manager Henderson Global Investors has announced that the second closing of Herald, its pan-European retail property fund, raised EUR 280 mln in additional equity. The fund has so far raised over EUR 700 mln of equity and should reach a fully invested fund size of about EUR 1.5 bn.
