Latest reports – Page 3634
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PropertyEU Archive
Kenmore buys UK retail scheme for EUR 29m
UK-based commercial property investor and developer Kenmore has purchased the New Broadmead retail scheme in Bristol from ING Real Estate for EUR 29 mln. The price for the 5,700 m[sup]2[/sup] scheme reflects a net initial yield of 5.8%. Located on Union Street, the island site comprises 16 units and the ...
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PropertyEU Archive
ING Real Estate to redevelop Brussels mall
ING Real Estate said on Wednesday that it has been contracted to redevelop the 15,000 m[sup]2[/sup] Galerie de la Toison d'Or (Golden Fleece) shopping centre in Brussels. The owners have commissioned ING Real Estate to modernise the premises and to enhance the retail mix. The number of retail units will ...
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PropertyEU Archive
Failed property deal leaves pub group with £140m hangover
Mitchell's & Butlers, the largest pub operator in the UK, has seen a liability stemming from a failed property deal more than double since August. Back in July M&B agreed to set up a £4.5 bn sale and leaseback joint venture with R20, an investment vehicle controlled by Iranian property ...
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PropertyEU Archive
Trigranit takes 50% stake in Moscow developer
Trigranit has signed an agreement to purchase a 50% stake in Torgoviy Kvartal Group, a developer of shopping and leisure centres in the Moscow area. The partnership will tap into the growing potential of the Russian market and bring to life new projects valued at more than EUR 1 bn ...
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PropertyEU Archive
CGG wins Scope Award for Hausinvest Europa
Commerz Grundbesitz Group (CGG) has won the 2007 Scope Award for its property fund Hausinvest Europa. The jury choose the fund over two other nominees in the category 'Open-End Property Funds, Europe' because it said the investment strategies defined CGG had been consistently implemented, and that portfolio competence and financial ...
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PropertyEU Archive
Dutch law change effects real estate share purchases
Changes to the transfer tax in the Netherlands has serious implications for the sale of shares in an entity qualifying as a 'real estate entity,' according to RechtStaete real estate lawyers & tax advisers. The new regime was outlined in the Dutch budget on Tuesday and will come into operation ...
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PropertyEU Archive
European retail investment slows in H1
Retail accounted for just 18% of direct real estate investment volumes in Europe during the first half of 2007. 'This is down from an average of 25% in previous years, reflecting a general concern about the retail sector', Simon Marx, head of property forecasting and analysis at consultancy Experian, told ...
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PropertyEU Archive
ECDC, Dickau to develop Bucharest offices
Isle of Man-based European Convergence Development Company and Dickau Investments, one of Romania's largest developers, have begun joint venture negotiations to co-develop offices in Bucharest. The A class office project will be built via a special purpose vehicle and the deal will include the acquisition of a 50% interest in ...
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PropertyEU Archive
Irish continue to look for trophy deals
Wealthy Irish investors are continuing to invest in overseas property and deals of EUR 1 bn are not unusual, a tax partner at Pricewaterhousecoopers (PwC) Real Estate in Dublin has said. According to Enda Faughnan, PwC, Irish investment syndicates will continue to look for trophy property deals abroad, particularly in ...
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PropertyEU Archive
Pramerica, Banimmo invest EUR 200 mln in French retail venture
Pramerica Real Estate Investors has formed a joint venture with Belgian-French property redeveloper Banimmo to develop and refurbish retail properties in France. Pramerica will initially contribute up to EUR 40 mln, representing 66% of the EUR 60 mln of equity committed to the joint venture with the balance provided by ...
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PropertyEU Archive
Qatar tipped to acquire slice of the Shard
The Qatari government is understood to have nudged ahead of rival Pramerica, the US financial institution, to secure a one-third stake in the £400 mln Shard development, the Financial Times has reported.The 72-storey skyscraper in London, which will be the tallest tower in the UK, was being developed by property ...
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News
Sustainability to split real estate pricing - DTZ
EUROPE – Real estate manager DTZ is predicting Europe will eventually develop into a two-tier property market which prices less energy-efficient real estate at a discount.
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Magazine
Raising the stakes
Once a source of relatively easy returns real estate is now proving more challenging. This brings the subject of risk management to the fore. Lynn Strongin Dodds reports
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PropertyEU Archive
Expo Real adds a career day for students
The 10th edition of the Expo Real international commercial property exposition in Munich will include a Careers Day for students and graduates and, for the first time, a Jobs Forum, where potential players in the property market will have a chance to talk to established professionals with many years of ...
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PropertyEU Archive
Sofidy buys retail portfolio in Paris
Sofidy has acquired a portfolio of shops in Paris for EUR 40 mln from an unnamed vendor on behalf of SCPI Immorente and the listed investment company Selectirente. The fully-let portfolio comprises more than 80 retail units providing a total of 8,700 m[sup]2[/sup].
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PropertyEU Archive
Edesa to sponsor sustainable award in Barcelona
Spain's largest electrical utility company, Edesa, is to sponsor the sustainable development awards at the Barcelona Meeting Point international real estate symposium. The awards aim to spread and foster sustainable real estate development, as well as to recognize those developers that are already working in this direction. The jury will ...
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PropertyEU Archive
New NAV model for non-listed real estate funds
A new calculation methodology for the presentation of net asset value (NAV) has been launched by the European Association for Investors in Non-listed Real Estate Vehicles (Inrev) at a conference in Berlin. As reported in the September edition of PropertyEU Magazine, the new NAV model is designed to allow investors ...
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PropertyEU Archive
PIK buys EUR 34 m plot for Moscow housing scheme
Pik Group, one of Russia's biggest property developers, has bought a 73,000 m[sup]2[/sup] site in the south of Moscow for EUR 34 mln. The residential real estate specialist plans to develop the area for mass-market housing. A typical Pik property is at the affordable end of Moscow housing market, selling ...
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PropertyEU Archive
Stam Europe picks up more offices around Paris
Using a financial lease buyout, commercial real estate investor STAM Europe has acquired two office properties in the Paris region for undisclosed amounts. The first has been acquired from Foncière Newton and is a 10,000 m[sup]2[/sup] office complex consisting of four buildings fully let to the Valéo Group, located in ...
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PropertyEU Archive
Capman acquires commercial property in Helsinki
CapMan RE fund I has acquired a warehouse and office property in the Konala district of Helsinki. The fund is managed by CapMan, one of the leading private equity investors in the Nordic countries. The property is fully leased and has a maximum lettable area of some 7,055 m[sup]2[/sup].
