Latest reports – Page 3612
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PropertyEU Archive
LSR global offering could raise up to EUR 734m
The upcoming global offering by Russian property developer and building materials company LSR Group could raise up to $1.054 bn (EUR 734 mln), the company said, as it announced the price range for the offering that will see its shares listed on London Stock Exchange.
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PropertyEU Archive
Accor plans to raise hotel count to 5000 in 2010
French hotel and corporate services group Accor plans to raise its network of hotels to 5,000 by the end of 2010, the company said during a presentation to investors of a new business plan for its hotels division.
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PropertyEU Archive
Boundary-led group completes EUR 65m Arnotts investment
Irish investment company Boundary Capital and its partner Anglo Irish Private Bank have completed the EUR 65 mln acquisition of a 45% indirect stake in the Arnotts Department Store group, Ireland's largest department store. Boundary Capital has invested EUR 40 mln for its 28% holding, while Anglo Irish Private Bank ...
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PropertyEU Archive
Deadline set for Sainsbury's bid amid doubts over financing
Delta Two, the Qatari-backed investment fund seeking to take over Sainsbury's, has been given until 8 November to finalise its bid for the UK supermarket chain after informing the company it is seeking an additional £500 mln (EUR 713 mln) of equity financing to fund its offer.
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PropertyEU Archive
Eurohypo refinances EUR 1.4bn residential scheme
German-listed real estate bank Eurohypo has refinanced the EUR 1.4 bn residential development at One Hyde Park in Knightsbridge, London. This enables PGGL, the joint venture between CPC Group and Waterknights, to complete the development of 80 luxury apartments and three retail units on the former Bowater House site. ...
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PropertyEU Archive
Deka snaps up Lighthouse towers in Prague for EUR 76.5m
Deka Immobilien, the property arm of German's Deka Bank, has acquired the Lighthouse office scheme in Prague from Lighthouse Holdings and Alliance Holdings & Development, a joint venture which includes investors GTC, RREEF and BSG, for a total of EUR 76.5 mln. The sellers were advised by Jones Lang LaSalle ...
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PropertyEU Archive
Hesse puts EUR 400m leaseback sale on hold
The Germans state of Hesse has halted attempts to arrange a sale and leaseback of the Leo III portfolio because the ongoing turbulence in the financial markets has left potential buyers unwilling or unable to meet the asking price of around EUR 400 mln. The state's finance minister, Karlheinz Weimar, ...
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PropertyEU Archive
Klepierre Q3 revenues up 16%
French retail property giant Klepierre said third-quarter revenues came in at EUR 166 mln, up almost 16% on the year-earlier period. Total revenues for the nine months to end-September rose to EUR 481.1 mln, from a EUR 414 mln a year earlier. The company said it expects business levels to ...
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PropertyEU Archive
Conwert shareholders back EUR 216m company acquisitions
Shareholders of Austrian property company Conwert Immobilien Invest have overwhelmingly approved the acquisition of 25 property management and property service companies for a total of EUR 216 mln. The acquisitions are part of Conwert's strategy to transform itself from a pure real estate investor into a European property management and ...
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PropertyEU Archive
Savills advises on two letting deals in Germany
Real estate consultancy Savills said it recently advised on letting deals in the German cities of Munich and Hamburg. The company advised the Buddenhagen Handelsgesellschaft on the lease of 5,000 m[sup]2[/sup] of retail space in Munich to major hairdressing chain Unisex Deutschland and advised Sparda Bank on a 10-year lease ...
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PropertyEU Archive
Irish property investigation widens to more solicitors firms
The police investigation into multi-million euro property dealings involving Irish law firms, which led to the shutdown of two solicitors in the past two weeks, has now widened to include as many as three more firms, according to a report in Thursday's Irish Independent. One prominent solicitor has been admitted ...
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PropertyEU Archive
AMB to develop logistics centre in Belgium
AMB Property Europe, an affiliate of the American AMB Property Corporation, announced on Thursday that it has teamed up with Belgian developer DePaepe Group to develop a multi-tenant logistics facility in Boom, Belgium. The AMB Boom Distribution Center is expected to comprise 40,000 m[sup]2[/sup] on completion in the second quarter ...
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PropertyEU Archive
Grosvenor in first Italian property derivative trade
Grosvenor, the Duke of Westminster's private property company, has carried out the first Italian property derivative transaction based on the IPD Italian Property Index. The two-year test trade was executed with BNP Paribas and brokered by ICAP.
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PropertyEU Archive
Jelmoli mulls property IPO as EUR 2bn deal collapses
Swiss retailer Jelmoli said on Thursday that it may float its real estate portfolio following the collapse of a EUR 2 bn sale of the properties to an Israeli consortium. An IPO will be one of the options the Jelmoli board will put to an extraordinary shareholders' meeting at the ...
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PropertyEU Archive
Colliers sees Vilnius office space double in coming years
Real estate advisor Colliers International expects office space in the Lithuanian capital Vilnius to double in the next few years, as economic growth drives up demand for modern office space.
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PropertyEU Archive
Sonae Sierra kicks off EUR 102m Italian mall project
Portuguese property firm Sonae Sierra on Thursday announced the start of its EUR 102 mln shopping centre project, Gli Orsi, in the Italian city of Biella. The 40,700 m[sup]2[/sup] project will offer space to 100 shops, plus 19 restaurants and coffee shops, and will be open for business in the ...
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News
PwC to advise Norwegian fund on real estate
NORWAY – The Oslo-based branch of PricewaterhouseCoopers (PwC) has been awarded the contract to advise the NOK2trn (€250bn) Norwegian government pension fund on tax issues related to real estate investments.
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PropertyEU Archive
B&S launches new fund with joint EUR 110m transaction
Van Boom & Slettenhaar, a Dutch initiator of real estate funds, has teamed up with a group of private investors to purchase the 'Observer' portfolio of nine office buildings and a warehouse in the Netherlands for EUR 110 mln. Van Boom & Slettenhaar acquired a 30% share of the portfolio ...
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PropertyEU Archive
Magnat RE, JJW team up in Eastern European JV
Germany's Magnat Real Estate Opportunities said on Wednesday that it has signed a strategic co-operation with JJW Hotels & Ressorts with respect to the expansion into Eastern Europe. JJW is part of an international group with total assets of $ 1.7 bn that acquires, develops and operates hotels and resorts ...
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PropertyEU Archive
Sponda to design shopping centre in Vaasa
Finnish property investment company Sponda has been selected from a list of three candidates to design a new 40,000 m[sup]2[/sup] shopping centre in the Finnish city of Vaasa. The city government will partner Sponda in designing and developing the shopping centre that will replace Vaasa's disused bus station. The project ...
