Latest reports – Page 3605
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PropertyEU Archive
Banuelos tipped to sell 15% of Astroc
Spanish businessman Enrique Banuelos is planning to sell up to 15% of his shareholding in the Spanish developer Astroc, Spanish newspaper El Pais reported on Wednesday. The entrepreneur currently owns 31% of the company's share capital. The paper also said that Banuelos first decided to sell the stake in July ...
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PropertyEU Archive
AMB Property acquires development site in Paris
San Francisco-based AMB Property Corporation has purchased a 520,000 m[sup]2[/sup] site in Paris, which when fully developed could support over 212,000 m[sup]2[/sup] of distribution space. The new development, which will be called AMB St Pathus Logistics Park, is located north of Charles de Gaulle International Airport. According to the company, ...
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PropertyEU Archive
Echo Investment surges ahead in list of top Polish companies
Polish investor/developer has been rated one of the most profitable and effective Polish companies according to the '2,000 List' just published in Rzeczpospolita, Poland's largest nationwide daily newspaper. The company came third with respect to profitability (EBITDA) and to effectiveness (profitability of turnover) on the list of the ...
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PropertyEU Archive
London & Stamford debuts on AIM
London & Stamford Property, a new closed-end investment company, began trading on London Stock Exchange's junior AIM market on Wednesday after one of the largest real estate flotations in the British capital this year. The offer price of £1 per share valued the company at £285 mln (EUR 408 mln) ...
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PropertyEU Archive
Union Investment's OPCI makes first French acquisition
Union Investment's new OPCI investment vehicle in France has made its first acquisition in the country, French newspaper Business Immo reported. OPCI UIR 1, SPPICAV, which was set up by Union Investment's asset manager in France Euragone Asset Management, is part of a new kind of tax-efficient investment vehicle that ...
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PropertyEU Archive
Sector organisations push for pan-European REIT framework
A coalition of European estate sector organisations has called for an EU framework for tax-efficient European real estate investment trusts (REITs) to 'overcome obstacles to cross-border property investment and enhance market security and stability'. The campaign group will present a report on EU REITs at the 11th annual Barcelona Meeting ...
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PropertyEU Archive
Irish investors buy hotel in Southern France
Inchydoney Partnership, a consortium of Irish investors, has bought the Dolce Fregate hotel in the Southern French port town of Bandol for an undisclosed amount. Located near Marseilles and Toulon Airport, Dolce Fregate is a four-star resort hotel with 133 rooms and two adjoining golf courses. The hotel also features ...
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PropertyEU Archive
C&W: Ukraine's vacancy rate for class A offices fell to 0.3% in 2007
Ukraine received $3.27 bn in Foreign Direct Investment (FDI) in the first half of the year, an increase of more than 31% to the first ix months of 2006. The majority of this investment originated in Germany, Cyprus, and Austria, and focused on the industrial sector, according to a new ...
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PropertyEU Archive
Sonae Sierra shows strong 9-month performance
Portuguese retail property specialist Sonae Sierra has said net profit for the first nine months of 2007 came to EUR 206 mln, a 42% increase on the same period the year before. Direct net profit was up 18% to EUR 64 mln and the indirect net profit reached EUR 142 ...
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PropertyEU Archive
Equest secures EUR 38m financing for Vitantis Retail Park
Equest Balkan Properties (EBP), the commercial property investment firm focused on Southeast Europe, has announced that it has completed EUR 37.8 mln of development financing for its Vitantis Retail Park in Bucharest, Romania.
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PropertyEU Archive
Conwert issues EUR 200m in convertible bonds
Austrian real estate investment company Conwert Immobilien Invest is to issue convertible bonds with an offering size of up to EUR 200 mln. Conwert said the proceeds from the offering will be used to finance the acquisition of 25 real estate management and real estate service companies, as well as ...
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PropertyEU Archive
IEF Capital launches hostile bid for VastNed Retail
IEF Capital, a joint venture of Bouwfonds Asset Management and Inflation Exchange Fund (IEF), said on Wednesday it will persist with its EUR 1.15 bn bid to acquire property fund VastNed Retail, despite the latter's rejection of the offer. On Tuesday, VastNed Retail dismissed the bid, which amounts to EUR ...
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PropertyEU Archive
GE RE expands in Italy
GE Real Estate has increased its exposure to the Italian property market with the acquisition of 70% of the closed-end commercial real estate fund Redwood. GE RE will join Valore Reale as co-asset management advisor. Valore Reale has 16 funds with total assets of EUR 900 mln under management.
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PropertyEU Archive
Discovery launches EUR 100m CEE property fund
Discovery Group, together with several institutional investors, has announced the launch of its first property development fund in Central and Eastern Europe (CEE). Discovery Group Fund 3C, an unlisted closed-end investment vehicle, has an initial target size of EUR 100 mln and will focus on development and investment in Czech ...
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PropertyEU Archive
Real estate could become 'safety anchor for investors'
The spate of property deals that have recently fallen through in the German market amply shows that the financial crisis is 'anything but over'. That is the conclusion of real estate consultant Dr. Rainer Zitelmann in the latest edition of the German Real Estate News.
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PropertyEU Archive
Liberty's Q3 results show investor interest in retail
Liberty International, a leading retail investor, reported adjusted earnings per share rose by 10% to 38 cents in the third quarter compared with the same period last year. Adjusted net assets rose to f EUR 7.4 bn. Net rental income was up EUR 21 mln to EUR 375 mln and ...
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PropertyEU Archive
Invista REIM grows its Continental European activities
UK listed fund manager Invista REIM is boosting its Continental European presence with the opening of a new Paris office and the appointment of Guillaume Masset as head of the newly-opened office. Guillaume joins Invista from European real estate investment manager Stam Europe, where he spent over six years as ...
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PropertyEU Archive
Executive Offices Group opens properties in Paris
London-based Executive Offices Group, already well-established in the UK for its provision of unbranded office accommodation and services in prestigious locations, has just opened its first property overseas. The six-storey historic building is located in Paris, at 36 Rue Beaujon in the 8th arrondissement, a chic downtown business district near ...
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PropertyEU Archive
UK buyers spurn Spain's residential market
Spain's residential market will remain under pressure for the next two to three years as UK buyers turn to new markets, according to Andrew Williams, managing director of Cushman & Wakefield Residential. 'UK investors buy twice as much residential property in Spain as any other group of foreign investors,' he ...
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PropertyEU Archive
Credit crisis will hit 'old' Europe harder than emerging markets
Europe's emerging markets will be hit less hard by the global credit crisis than its more mature markets, according to Struan Robertson, managing director of US investment bank Morgan Stanley. 'Countries like Ukraine, Turkey, Russia, Romania and Poland are less dependent on financial services than the UK, France or Germany. ...
