Latest reports – Page 3632
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PropertyEU Archive
Depfa shareholders back EUR 5bn Hypo takeover
Germany's Hypo Real Estate Group has said that the approval of Depfa Bank's shareholders for a EUR 5 bn takeover is an important step in the creation of a large-scale provider of financing for commercial real estate and the public sector.
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PropertyEU Archive
TCN acquires majority stake in UK developer
Dutch real estate company TCN Property Projects has expanded its European network by acquiring a majority stake in UK development company Express Park Group, to form TCN Express Park UK. The newly merged company will be managed jointly by Richard Pearce, currently managing director of TCN UK, and Paul Knell, ...
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PropertyEU Archive
Chrysalis tenders 61% of Italy's office fund Beta
Lehman Brothers' investment vehicle Chrysalis has tendered about 61.33% of the quotas of the closed-end investment fund Beta Immobiliare which is managed by Fimit. The offer, which run until 21 September, was launched for about 268,000 units, or 100% of the issued units; and was conditional on the tendering of ...
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PropertyEU Archive
ULI book urges 'smart-growth development'
A new book published by the Urban Land Institute underlines how key changes in property development could positively impact climate change. The book entitled Growing Cooler: The Evidence on Urban Development and Climate Change is written by top urban planning professionals and warns that if sprawling development continues to force ...
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PropertyEU Archive
Dawnay Day Treveria sees opportunities in credit crunch
Dawnay Day Treveria, a UK investor in German retail property, have reported adjusted profits after tax of EUR 20 mln, up from EUR 11 mln for the same period last year. New property assets over the period were valued at EUR 326 mln, with revenues of EUR 67.8 ...
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PropertyEU Archive
Union Investment signs on to mall development in Turkey
German fund manager Union Investment Real Estate has invested EUR 130 mln in a joint venture to develop the Forum Kayseri shopping centre in Turkey. Union's partner in its third investment in Turkey is local developer Multi Turkmall, part of the Netherlands-based Multi Corporation.
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PropertyEU Archive
Conwert to become a Societas Europa
Central European residential property developer Conwert Immobilien Invest plans to change its corporate structure into a Societas Europa (SE). It will request approval from shareholders at a special meeting in October. The company, which IPOed in November 2002, plans to set up a SE with a one-tier board system. After ...
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PropertyEU Archive
Plaza to seek listing in Warsaw
London-listed Plaza Centers confirmed on Monday that it intends to seek a dual listing on Warsaw Stock Exchange. The Central and Eastern European developer stressed it had no intention of raising funds from the new listing. The application is being made on the basis of a prospectus already filed with ...
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PropertyEU Archive
VastNed Retail completes share buyback programme
Dutch property fund VastNed Retail has completed the share buyback programme it announced in August this year. The company, active in six countries, has repurchased a total of 500,000 shares at an average of EUR 55.79. In transactions finalised between 17 and 21 September it bought back a total of ...
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PropertyEU Archive
Prologis European Properties to purchase EUR 4m of stock
Euronext-listed Prologis European Properties (PEPR) said last week it would purchase some EUR 4 mln of its stock over the following 10 trading days. Of the total, EUR 400,000 will be used for part of the remuneration package of non-executive directors. The remaining EUR 3.6 mln will be used to ...
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News
Pension funds fuel urban investment trend
UNITED STATES - Pension funds in the United States are putting more capital into an urban investment strategy on the back of young professionals’ demand.
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News
LACERA to fund account through real estate sale
UNITED STATES - Los Angeles County Employees Retirement Association has approved an annual real estate investment plan for 2007/2008 which will see property worth $700m sold and as much as $900m (€648m) invested through a domestic separate account strategy.
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News
Land investment is the new real estate
UNITED STATES - Real estate managers are investing in land as a new specialist investment strategy.
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News
CalSTRS extends senior housing exposure
UNITED STATES - California State Teachers Retirement System has expanded an existing joint venture with California-based Vintage Senior Advisors and invested more money in its senior housing venture.
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PropertyEU Archive
Westbury completes merger with Eddie Stobart
Westbury Property Fund, a Guernsey-registered commercial property and ports company, said it has completed a merger with well-known UK road haulage group Eddie Stobart Holdings. Shares of the new company have been admitted to the London Stock Exchange and will trade under the symbol STOB once the company name is ...
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PropertyEU Archive
Ballymore to invest EUR 450m in Berlin mall development
Ballymore Properties is investing EUR 450 mln to develop what the Irish company claims will be the most prestigious and one of the largest shopping centres in Germany. The mall will be developed on a 2-hectare site around the Kudamm Karree building in central Berlin. Ballymore acquired the 62,000 m[sup]2[/sup] ...
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PropertyEU Archive
Icade to merge with subsidiaries, gain SIIC status
French property developer Icade said it plans to merge with its four majority-owned property subsidiaries to allow it to acquire SIIC status, the French equivalent of a real estate investment trust, already enjoyed by those subsidiaries. The new SIIC status would be backdated to 1 January 2007, allowing Icade to ...
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PropertyEU Archive
Rewe set to acquire Italian peer Esselunga
German food retailer Rewe is set to acquire Italian peer Esselunga, newspaper Handelsblatt reported, citing company sources. Esselunga owns 129 stores across Italy and has about 17,000 employees. The acquisition would boost Rewe's revenues by about EUR 5 bn to EUR 36 bn. Rewe plans to buy Esselunga, which has ...
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PropertyEU Archive
RREFF enters Cypriot real estate market
RREEF has made its first investment in the Cypriot real estate market with the acquisition of Lanitis Development, a publicly-listed real estate development company, whose main asset is the Aphrodite Hills resort. RREEF, the real estate fund of Deutsche Bank, is making the purchase through a joint venture with the ...
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PropertyEU Archive
Pearl buys 50% stake in EUR 1.4 bn Tesco portfolio
Private property investment company Topland said on Friday that it has completed the sale of its 50% stake in a portfolio of 33 Tesco supermarkets and two distribution units to Axial Investment Management, an investment unit of the insurance firm Pearl Group. The company would not disclose the value of ...
