Latest reports – Page 3606
-
PropertyEU Archive
Pirelli RE confirms interest in Arcandor's EUR 4.5 bn portfolio
Pirelli Real Estate's CEO Carlo Puri Negri has confirmed that the Italian real estate giant is interested in acquiring Arcandor's department store properties in Germany. 'We are in talks for the purchase of Karstadt's buildings and for a small stake in the management company,' Puri Negri said Monday during a ...
-
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.
-
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 ...
-
PropertyEU Archive
IVG places EUR 224m Gherkin fund in two months
German property investor IVG Immobilien said on Tuesday that it has taken only two months for its fund unit to raise EUR 224 mln in equity for its Euroselect 14 fund which is based on the iconic Gherkin office property in the City of London.
-
PropertyEU Archive
Jelmoli acquires majority stake in Seiler Hotels Zermatt
Jelmoli Holding, one of Switzerland's leading retail and real estate companies, has acquired 39% of Seiler Hotels' share capital, bringing its total share ownership in the luxury hotel chain to 80%. Jelmoli, listed on the Swiss stock exchange SWX, acquired a 36% stake in 2005 and a further 5% in ...
-
PropertyEU Archive
October's FTSE UK Commercial Property Index down 0.46%
The FTSE UK Commercial Property Index declined by 0.46% during October. The cooling of the UK property market 'affected the values of underlying properties in the index', but the decline was exacerbated by the credit crunch in global capital markets.
-
PropertyEU Archive
Deutsche Post to put EUR 1 bn real estate portfolio up for sale
Germany's Deutsche Post World Net plans to sell off vacant real estate worth EUR 1-1.5 bn to generate cash and boost its share price, newspaper Financial Times Deutschland has reported. The paper said that the German postal company, headed by CEO Klaus Zumwinkel, has hired Morgan Stanley to organize the ...
-
PropertyEU Archive
RICS seeks 'security and transparency' in EU property market
A well-structured EU Real Estate Investment Trust (REIT) system would not only eliminate distortions to competition in the European real estate market, would but also discourage property companies from resorting to tax havens to avoid double taxation, according to the Royal Institution of Chartered Surveyors (RICS).
-
PropertyEU Archive
BSA Investment buys into German offices
Norwegian real estate company BSA Investment has bought three offices in Frankfurt, Hamburg and Munich from an undisclosed seller, newspaper Immobilien Zeitung reported. The transaction volumes comes to EUR 96 mln. Immobilien Asset Management (IAM) acted for the buyer.
-
PropertyEU Archive
Bastogi sells office lab for EUR 35m
Italian real estate company Bastogi, advised by Savills, has sold an office and laboratory property on Via Bisceglie in Milan to an Italian investment fund for EUR 35.5 mln, reflecting a gross initial yield of 5.5%.
-
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 ...
-
PropertyEU Archive
Subprime mortgage crisis accelerates Europe's prime yield correction
The correction of the European investment market was already at work by the time the US subprime crisis hit European banks in August, Atisreal said in a new report published on Monday. Initial prime yields had already stopped falling in the priciest markets in spite of the abundant capital seeking ...
-
News
To Russia, with cash
RUSSIA - Majority pension fund-owned property firm Sponda is to invest up to €400m in Russia by the end of 2009.
-
News
UK property delivers negative return
UK - Real estate delivered a negative return of 1.1% in Q3, according to the IPD UK Quarterly Index – the first in its history – but real estate still outperformed property equities, which had a negative return of –10.3% for the three months to September.
-
News
Quebec pension fund to invest in India office
INDIA - The Caisse de dépôt et placement du Québec, Canada’s largest pension fund, is weeks away from its entry into Indian property as part of a strategy to switch 15% of its portfolio to Indian real estate within 3—5 years.
-
News
BA supports pensions flight with office block
UK – Pension fund of the airline British Airways has bought a recently-completed office development in Birmingham city centre, in a bid to help diversify its asset allocation.
-
News
Frequin quits Blue Sky for Goodman
NETHERLANDS - Blue Sky Group, the fund manager for three KLM pension funds collectively worth more than €10bn, has lost fund manager Hidde Frequin just five months after he joined.
-
News
CPPIB loses Auckland but gains Puget
CANADA - Concerns over debt last week scuppered plans by the Canada Pension Plan Investment Board (CPPIB) to acquire a 49% stake in Auckland International Airport (AIAL).
-
News
LACERA trades property for commingled fund
UNITED STATES - Los Angeles County Employees Retirement Association has sold a shopping centre in Los Angeles and traded it for an investment into a commingled fund with the same real estate manager.
-
News
Pramerica expands into Brazil
UNITED STATES - Pramerica Real Estate Investors has expanded its industrial investment efforts into Brazil for the first time, through a joint venture with Racional Engenharia.
