Latest reports – Page 3642
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PropertyEU Archive
Town Centre to join REIT club in October
Town Centre Securities said on Friday that it is in 'robust' shape and intends to convert to real estate investment trust (REIT) status in October. But the company cautioned that adding to its £518 mln portfolio would be dependent on easing of inflated pricing in the UK commercial property market.
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PropertyEU Archive
First Property assets under management up 43%
First Property Group said assets under management rose 43% to £215 mln (EUR 315 mln ) in the first 5 months of 2007, with a further pipeline of assets expected over coming months. 'The primary markets in which we operate continue to deliver exciting investment prospects, particularly in Poland where ...
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PropertyEU Archive
IVG Immobilien spends EUR 76m on German offices
IVG Immobilien has bought a portfolio of eight real estate assets in the Dusseldorf region from CM Capital Management for EUR 76 mln. The portfolio includes properties 'at very good locations' in Dusseldorf (six assets), Cologne (one asset) and Krefeld (one asset) and covers some 43,000 m[sup]2[/sup] of office space ...
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PropertyEU Archive
Inrev launches NAV model
Inrev, the European association for investors in non-listed real estate, is set to launch a common methodology in September for calculating the adjusted net asset value (NAV) of non-listed real estate funds. Concurrently, it is also introducing standard fee metrics methodology providing fund managers with a format on how to ...
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PropertyEU Archive
Foruminvest's Gran Sasso mall fully let
Dutch property development and investment company Foruminvest said on Friday that its Gran Sasso shopping centre development in the Italian city of Teramo is fully let, five months before the opening on 22 November. The shopping mall comprises 101 retail units with a combined retail space of 30,000 m2, including ...
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PropertyEU Archive
ING REIM Europe raises risk profile after soaring returns
ING Real Estate Investment Management ING REIM) has taken a strategic decision to launch a new suite of funds in the 'value-added' space in Continental Europe, after its most successful fund debut ever for a new vehicle in this strategy by the traditionally 'core' investment house. 'The Iberian Value Added ...
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PropertyEU Archive
Palermo takes ownership of 258 Mafia properties
A total of 258 properties confiscated from the Sicilian Mafia are to be handed over to the city government of Palermo by the end of 2007, according to an agreement reached between Italy's economy ministry, the state property agency Agenzia del Demanio and the city.
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PropertyEU Archive
Real Office Group shares begin trading on AIM
Shares of the UK's Real Office Group began trading on the Alternative Investment Market (AIM) in London on Friday following an initial £3.5 mln (EUR 5.2 mln) fundraising. The newly incorporated group was created to acquire and manage companies involved with the design, construction and fit-out of commercial interiors.
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PropertyEU Archive
Sonae's Troia resort 50% sold
Sonae SGSP has sold about 50% of its flagship Troia resort's 380 housing units three months before they went on sale, newspaper Diario Economico reported without citing sources. The resort, due to open next year, involved an investment of EUR 450 mln, the paper said.
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PropertyEU Archive
AAIM acquires EUR 700m Gemini portfolio
UK celebrity-backed fund AAIM has bought 51 German retail assets from Luxembourg-based EPI Orange Holdings for EUR 700 mln. The purchase price for the 34 DIY stores let to Praktiker and 17 department stores let to Sinn Leffer reflects a net initial yield of 5.5%. Last month AAIM was ...
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PropertyEU Archive
EC presents plan for Brussels redevelopment
The European Commission and the government of Brussels have presented a masterplan for the redevelopment of the city's European Quarter. The redevelopment plan involves 400,000 m[sup]2[/sup] of office space for the Commission on both sides of the Rue de Loi, and about 180,000 m[sup]2[/sup] for housing and other uses within ...
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PropertyEU Archive
TCN rolls out 'TruckCity' concept
TCN Property Projects plans to launch its 'TruckCity' concept at the BedrijfsautoRAI (European Road Transport Show) in Amsterdam on 25 October, before rolling it out on European motorways next year.
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PropertyEU Archive
Catella RE launches Focus Nordic Cities fund
Catella Real Estate has launched Focus Nordic Cities, the first open-ended property fund for investment in real estate located exclusively in Scandinavia and countries bordering the Baltic Sea. The fund was launched on 3 September, with institutional investors as its target group.
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PropertyEU Archive
Niam buys 16 assets in Sweden
Private equity firm Niam has teamed up with Crown Asset Management to purchase 16 properties from the listed real estate company Dagon. The properties were acquired through the joint company Niam Center Syd Fastighets. Dagon is divesting the portfolio comprising 16 assets across several villages in Sweden in order to ...
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PropertyEU Archive
KanAm Grundinvest Fonds acquires Cartier's Paris HQ for EUR 380m
Germany's KanAm Grundinvest Fonds has acquired jeweller Cartier's head office in Paris for EUR 380 mln. The Cité du Retiro complex is located near the Élysée palace and provides some 21,000 m[sup]2[/sup] of space, distributed across four connected buildings on seven storeys. The German investment company declined to disclose the ...
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PropertyEU Archive
Tales of a trailblazer
Eight years ago at the age of 53, Nick van Ommen was travelling around the world with his wife on a trip which was meant to mark his early retirement from a hectic corporate career. 'I’d always had this plan and we were having a great time,' the outgoing CEO ...
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PropertyEU Archive
European lenders play down impact of global credit crisis
Dedicated providers of the cross-border financing that has helped drive the European property investment boom in recent years say that the level of loans may slow in the second half of the year, but there is no question of the lending tap being turned off completely - barring further seismic ...
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PropertyEU Archive
Bank of England holds interest rates at 5.75%
The Bank of England on Thursday left interest rates on hold at 5.75%, after five consecutive rises in a year. The decision by the Bank reflects a positive situation with inflation falling to 1.9%, below the government's 2% target for the first time in one and a half years. The ...
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PropertyEU Archive
Raven Russia poised to enter Ukraine
AIM-listed Raven Russia said it is planning to enter Ukraine with the development of a 20-hectare logistics park in Kiev, Ukraine. The Russian investment company said during the presentation of its half-year results on Wednesday that it will seek shareholders' approval for the development.
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PropertyEU Archive
Curzon/AEW sees European credit squeeze deepening
The fallout of the sub-prime mortgage crisis in the US may stifle investment activity in the European commercial real estate market for the remainder of this year and cause casualties among highly-leveraged players as banks tighten credit lines, according to investment manager Curzon Global Partners.
