Latest reports – Page 3630
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PropertyEU Archive
SPD buys office project near Oslo for EUR 36m
Scandinavian Property Development ASA (SPD) has agreed to acquire the development project K2 in the western outskirts of Oslo. The 28,000 m[sup]2[/sup] office project was acquired for NOK 280 mln (EUR 36 mln) from Telenor Eiendom Holding. The project is estimated to yield an Internal Rate of Return (IRR) of ...
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PropertyEU Archive
Kenmore's sale falls apart, FT claims
The global credit crunch has reportedly derailed another major property deal. Citing unidentified sources, newspaper the Financial Times said on Wednesday that the sale of Kenmore Property Group is not going ahead because of the current turmoil in the debt markets. Listed Australian group Mirvac was to take over the ...
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PropertyEU Archive
Ferrovial acquires 20% stake in Habitat
Spanish leading infrastructure group Ferrovial is buying a 20% stake in real estate firm Habitat for some EUR 125 mln, news agency Europe Press reported. Habitat is selling the stake as part of its EUR 225 mln capital increase. The Spanish real estate company committed to sell an undefined amount ...
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PropertyEU Archive
Songbird reports fall in pretax profits
Songbird Estates, owner of Canary Wharf, has reported a fall in first half pretax profit based on higher administrative expenses and cost of sales, but added that it is well positioned to meet future market conditions. The company said pretax profit for the six months to June 30 fell to ...
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PropertyEU Archive
BPT invests in Berlin conference center
Danish real estate investor Baltic Property trust (BPT) has bought a conference centre project on the campus of Berlin's Freien Universitat for EUR 34 mln. The development will include a science and conference centre, a 186-room hotel, an underground parking lot with 140 parking spaces as well as some retail ...
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PropertyEU Archive
Delek confident Jelmoli deal will go ahead
London-listed Delek Global Real Estate (DGRE) has insisted that the consortium behind the CHF 3.4bn (EUR 2bn) acquisition of investment properties from Swiss retail group Jelmoli is conducting final negotiations and that it is confident of closing the transaction in due course. The financing banks are also committed to closing ...
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PropertyEU Archive
AMB leases Schiphol development to Schenker
AMB Property Corporation has leased 10,300 m[sup]2[/sup] of an Amsterdam development project to Schenker, an international provider of integrated logistics services. Schenker will use the facility to consolidate its operations following the recent merger with BAX Global, becoming part of the Transportation and Logistics Division of Deutsche Bahn. The ...
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PropertyEU Archive
SGAM buys Paristade building in Paris
SGAM Alternative Investments, a unit of Societe Generale Asset Management, has bought the Paristade building in Saint Denis in the northern suburbs of Paris, from Rreef Spezial Invest for an undisclosed amount. The property is earmarked for the fund SGAM FCPR Immobilier. Paristade, which was refurbished in 2001, offers some ...
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PropertyEU Archive
ING RE celebrates groundbreaking at docklands regeneration projects in Hamburg and Amsterdam
ING Real Estate said on Wednesday that construction has started for its EUR 900 mln docklands transformation project in Hamburg. The groundbreaking ceremony was attended among others by Hamburg's mayor Ole von Beust, who laid a ceremonial first stone for the Überseequartier project. The mixed-use project will transform eight hectares ...
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PropertyEU Archive
Llanera renegotiates EUR 150m loan with Lehman Brothers
Spanish property developer Llanera has said it is renegotiating a EUR 150 mln loan it secured from Lehman Brothers to partially finance the acquisition of Reva, a Belgium company that owned some 9 million m[sup]2[/sup] of rural land in Valencia. Last week Llanera, which is owned by the Gallego family, ...
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PropertyEU Archive
French government to sell EUR 600m real estate in 2008
The French government has unveiled a EUR 600 mln property disposal plan as part of the country's 2008 budget. French budget minister Eric Woerth said on Wednesday that the plan was very ambitious and represented an increase of EUR 100 mln on 2007's target. The minister stressed that several major ...
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PropertyEU Archive
Gresham House agrees conditional sale of properties
Gresham House has announced the conditional sale of properties in Liverpool and London. The London-based investment trust said in has signed non-binding heads of terms with an unnamed party for the sale of Gresham's property interests on Speke Boulevard in Liverpool. The transaction price is set at £61 mln ...
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PropertyEU Archive
Redevco Sweden shops in Malmo
Redevco Sweden has purchased a retail warehouse in Malmö from NCC Property Development. The property, which is fully let, is on a prime location in the recently established Toftanäs retail park, and provides about 4,800 m[sup]2[/sup] of retail space. It was constructed in 2007 and is let to BoConcept, Blomsterlandet, ...
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PropertyEU Archive
Gecina and Metrovacesa swap shares in 'divorce'
Shareholders of Spanish real estate company Metrovacesa are to receive shares in French company Gecina in return for their Metrovacesa shares as part of the first stage in the separation of the two companies. The move follows the approval of Spanish securities regulator (CNMV) for Metrovacesa's public stock buyback offer. ...
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PropertyEU Archive
Corio acquires EUR 30m mall in Rotterdam hotspot
Corio, one of Europe’s largest retail property developers, is to purchase the Newport Nesselande shopping centre to the northeast of Rotterdam for EUR 30 mln. With some 10,000 m[sup]2[/sup] of lettable floor space, the centre will be part of the broader Newport Nesselande project, to include 464 homes and a ...
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PropertyEU Archive
Erinaceous postpones interim results
UK-listed Erinaceous confirmed on Tuesday that it is postponing the release of its interim results at least until 28 September while crisis talks with its banks continue. As reported in PropertyEU newsletter yesterday, the troubled property services company has beached covenants in its credit agreement.
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PropertyEU Archive
Quinn launches shopping mall project in Russia
Privately owned Quinn Group, led by Ireland's richest man Sean Quinn, has acquired the 12,000 m[sup]2[/sup] Avrora shopping centre project in the Russia city of Ufa. The financial details were not disclosed but real estate analysts in Moscow suggested to the Irish Independent newspaper than the asset would have cost ...
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PropertyEU Archive
ICSC research seminar focuses on drivers for growth
The 6th research seminar hosted by the International Council of Shopping Centers Europe next month will focus on identifying the future drivers of growth and how to maximise excitement for shopping centre visitors and profitability for management. The event takes place at Hotel Hesperia in Madrid on 30-31 October.
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PropertyEU Archive
ICSC launches retail property school in Ukraine
The International Council of Shopping Centers (ICSC) is launching its first School for Professional Development in Ukraine. Following a similar exercise held earlier this year in Turkey, ICSC's John T Riordan International School for Professional Development, is now set to run at the Hyatt Regency Hotel in Kyiv from 5-9 ...
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PropertyEU Archive
Benson Elliot jv acquires La Defense asset for EUR 100m
Benson Elliot Capital Management has teamed up again with Generale Continentale Investissements (GCI) to acquire Le Berkeley office building in La Defense, the financial district of Paris, for just over EUR 100 mln. Benson Elliot, the London-based private equity real estate firm launched by Marc Mogull, said the acquisition ...
