Latest reports – Page 3639
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PropertyEU Archive
Turkish builder buys out Ramstore retail chain for EUR 389m
Migros Turk has agreed to sell a 50% stake in Russian retail chain Ramstore to Turkish developer Enka Insaat Sanayi for EUR 389 mln, Russian newspaper Kommersant reported on Wednesday. Enka already holds the other 50% of Ramstore, owner of 10 shopping centres and over 50 supermarkets in and ...
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PropertyEU Archive
Re/Max to expand further in Eastern Europe in 2008
Denver-based real estate agent Re/Max views Europe as the motor of its international growth. The business, which operates on a franchise basis, already has 1,500 offices across 36 European countries and plans to expand further in Central Eastern Europe next year. 'We have now arrived at Poland's most eastern border, ...
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PropertyEU Archive
CGG completes Czech acquisition
Commerz Grundbesitz Gruppe (CGG) has completed the acquisition of the Charles Square Center (CSC) in Prague for EUR 90 mln. The property was bought from Irish investor Quinlan Private on behalf of CGG's open-end property fund, HausInvest Global. The nine-storey building was completed in 2002 and is almost fully let. ...
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PropertyEU Archive
Great Portland agrees major office pre-let
Great Portland Estates has pre-let the entire office element of a major refurbishment and extension scheme in the West End of London. The Engine Group, a communication and advertising business, has agreed to take a 20-year lease on 60,000 square feet (5,600 m2) over the basement and five floors at ...
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News
Irish pension fund sells retail stores
IRELAND – The Irish Property Unit Trust is selling some of its retail investments in Cork and Limerick, as well as an office block in Dublin, to finance its stake in a new Cork retail property project.
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PropertyEU Archive
Regulator to look at EUR 1.4bn David Lloyd deal
The Office of Fair Trading (OFT) in the UK is to consider whether the proposed merger of the David Lloyd Health and Racquet Club portfolio with Next Generation Clubs should be referred to the Competition Commission. The regulator has invited comment on the acquisition of the David Lloyd business by ...
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PropertyEU Archive
Sonae Sierra mall opens in Berlin
Sonae Sierra and Fonciere Euris have announced that their Alexa shopping and leisure centre opened its doors in central Berlin on Wednesday. The ceremony was attended by Berlin's mayor Klaus Wowereit. The development, owned in equal shares by the partners, represents an investment of EUR 290 mln.
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PropertyEU Archive
French portfolio deals almost double in H1 2007
France saw some EUR 13 bn invested in commercial real estate in the first half of 2007, the highest figure ever, according to data from CB Richard Ellis. A total of 47 portfolio transactions were recorded during the first six months of the year, compared to 27 in the same ...
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PropertyEU Archive
New job for ex-Multi CEO
Arnold de Haan, the former CEO of Dutch property developer Multi Development and German open-ended fund CGI, has been appointed vice president of London-based Meyer Bergman. Meyer Bergman is the private development arm of the Dutch Meyer family which founded MAB. With developments in France, Germany, the UK and the ...
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PropertyEU Archive
Boundary expands into EUR 750m Dublin regeneration scheme
Irish investment company Boundary Capital is acquiring 45% of Ireland's largest department store, Arnotts, for EUR 65 mln. Brunner, a vehicle controlled by Boundary, will invest EUR 45 mln for an 28% indirect stake in Arnotts, while Anglo Irish Private Bank will co-invest EUR 25 mln with Boundary.
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PropertyEU Archive
Italian REIT gets final go-ahead
Italian Economics minister Tommaso Padoa-Schioppa has signed a decree facilitating the creation of SIIQs, the Italian equivalent of real estate investment trusts. Securities watchdog Consob will oversee the new real estate investment vehicles, while the Bank of Italy will have a supervisory role.
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PropertyEU Archive
GE RE, Endurance Land acquire Soho asset
GE Real Estate UK and Endurance Land (EL) have bought an office building in the heart of London's Soho district. The two investment partners purchased the 4,370 m[sup]2[/sup] asset from Coronation for £51 mln (EUR 75 mln). The office, located at 10 Great Pulteney St, comprises seven floors of offices ...
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PropertyEU Archive
British Land secures London lettings
British Land said on Wednesday that it has secured 22,000 m[sup]2[/sup] of new London office lettings since it published its first quarter financial results in mid August. Sempra Energy, a Fortune 500 energy services company based in San Diego, has signed a contract for the entire 3,500 m[sup]2[/sup] of the ...
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PropertyEU Archive
UBS buys office portfolio near Paris
A fund managed by UBS Real Estate Europe has completed the acquisition of a portfolio of three office buildings in France for EUR 200 mln. The entirely let properties provide some 50,000 m[sup]2[/sup] of space and are located in Hauts-de-Seine, Val-de-Marne and Essonne in the Paris region. Tenants include Deloitte ...
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PropertyEU Archive
Investors shun Hungary
Hungaria's commercial investment market is expected to decelerate further in 2007 after dropping about 25% year-onyear to EUR 750 mln in 2006. 'With interest rates rising and the rate of yield compression slowing it is noticeable that investors are having to pay more attention to the risk element of possible ...
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PropertyEU Archive
SIIC de Paris spends EUR 118m at La Defense
SIIC de Paris, the French subsidiary of Spain's Realia, has bought the Guynemer office building in La Defense in Paris from German real estate investment manager Degi for close to EUR 118 mln. The office provides some 12,000 m[sup]2[/sup] of office space as well as 188 parking spaces. The building ...
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PropertyEU Archive
Sponda to build HQ for Evli bank in Helsinki
Finnish real estate investment company Sponda has entirely pre-let an office development at its City-Centre complex in Helsinki as the new headquarters for Finnish bank Evli. Construction of the 4,200 m[sup]2[/sup] office block will start at the beginning of 2009. The City-Center project has an estimated total investment value of ...
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News
McGuire swaps Edinburgh for London
UK – AXA Real Estate Investment Managers has persuaded Standard Life Investment’s Martin McGuire to leave his property remit at the life office and head up one of its core-plus propositions.
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News
Pension funds give euro focus to Goodman
EUROPE – Asset management firm Goodman Property Investors has picked up a series of new European real estate mandates from pension funds in recent months, the latest of which is from GlaxoSmithKline (GSK).
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PropertyEU Archive
Metrovacesa spends EUR 260m on Madrid's offices
Spanish property company Metrovacesa said on Tuesday that it has invested EUR 260 mln in five ventures in the Madrid office sector. The acquisitions involve two office buildings and three plots of land with a build-on area of 42,000 m[sup]2[/sup].
