Latest reports – Page 3644
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PropertyEU Archive
Epra forms global coalition for accounting rules
The European Public Real Estate Association (EPRA) has teamed up with its international counterparts to influence proposals for uniform accounting standards currently being drawn up by the US Financial Accounting Standards Board (FASB) and the London-based International Accounting Standards Boards (IASB). 'The project has profound implications for the listed real ...
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PropertyEU Archive
Dutch retailer V&D opens new store in November
Dutch retailer V&D will open its 61st store in November. The new store in Doetinchem will have 6,000 m[sup]2[/sup] of sales floor and replace Huls, one of the country’s last privately owned department stores. V&D is part of Maxeda, a privately-held retail group headquartered in Amsterdam.
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PropertyEU Archive
Sanchez Ramade increases stake in Realia
Group Sanchez Ramade has acquired 5% of Spanish real estate company Realia for EUR 90 mln. Following the purchase this week, the group has become the second-largest shareholder in Realia after Caja Madrid and developer Fomento de Construcciones y Contratas (FCC). Sanchez Ramade offered EUR 6.3 per share. The purchase ...
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PropertyEU Archive
Land Securities confirms review of 'business structure'
Land Securities confirmed on Wednesday that it is conducting a 'review of its business structure' but stopped short of commenting directly on a newspaper report that suggested one of the options is a break-up of the largest property company in the UK. 'The review is well progressed and the company ...
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PropertyEU Archive
Hammerson buys French mall for EUR 65m
Hammerson has agreed to acquire a 31% stake in Grand Maine, a 22,000 m[sup]2[/sup] shopping centre in Angers, France for £44 mln (EUR 66 mln). The vendor is private property company Locasic. The transaction is expected to be completed by next October.
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PropertyEU Archive
GE RE buys German office for EUR 25 mln
GE Real Estate has bought a 11,000 m[sup]2[/sup] office building in Hamburg from HIH Hamburgische Immobilienhandlung for EUR 25 mln. The five-storey office was developed in 2005 and is multi-let to a range of tenants including Oracle and HansaLeasing, a subsidiary of CommerzLeasing. The property is located in the Altona ...
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PropertyEU Archive
Hammerson buys stake in Grand Maine
Axa Real Estate Investment Managers (Axa REIM) has announced that one of its funds is selling a 31% stake in the Angers Grand Maine shopping centre for EUR 66 mln. The deal involves a 9,000 m[sup]2[/sup] retail gallery with about 60 retail units providing a net annual rent of EUR ...
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PropertyEU Archive
Four bidders for stakes in EUR 1.78 bn London airport property
US industrial property firm AMB and Australian business park developer Goodman are competing with UK real estate developers Segro and Brixton in bids to control a portfolio of warehouses and office properties around Heathrow and Gatwick airports said to be worth around £1.2 bn (EUR 1.78 bn). Canadian pension fund ...
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PropertyEU Archive
Dere, Swiss Hawk launch two RE funds
London-based Deutsche European Real Estate (Dere) and Swiss Hawk, a niche investment banking group, have signed an agreement to cooperate on the establishment of two new real estate investment funds. The Hanseatic & Baltic Fund will invest in commercial and residential real estate in the Hanseatic and Baltic regions, while ...
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PropertyEU Archive
AXA sells Angers Grand Maine stake for EUR 66m
AXA Real Estate Investment Managers (AXA REIM) has announced that one of its funds is selling a 31% stake in the Angers Grand Maine shopping centre for EUR 66 mln. The deal involves a 9,000 m[sup]2[/sup] retail gallery with about 60 retail units providing a net annual rent of EUR ...
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PropertyEU Archive
Sarantis vacates HQ in Piaseczno
Sarantis Polska, distributor of cosmetics and household products such as Nair and Pearl Drops, is vacating its current headquarters in Piaseczno, just south of Warsaw. The wholly-owned building, comprising 891 m[sup]2[/sup] of office space and 120 m[sup]2[/sup] of storage space, is currently leased to tenants. Sarantis will retain international property ...
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PropertyEU Archive
Beacon Capital to close $4 bn office fund
US private real estate investment firm Beacon Capital Partners is to announce that it has closed a $4 bn (EUR 3 bn) global office fund, newspaper Financial Times reported on Tuesday. The fund, believed to be the biggest ever of its kind, is 80% committed by 200 investors mainly public ...
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PropertyEU Archive
Metrovacesa's net profit up 65% in H1
Spanish property giant Metrovacesa saw its net profit jump 65% year-on-year to close to just over EUR 1 bn in the first half of 2007, mainly due to a revaluation of assets as well as the contribution from its French arm Gecina. Metrovacesa said in a statement that net profit ...
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PropertyEU Archive
Stratreal advises on UK's Turner building deal
Strategic Real Estate Advisors (Stratreal) has advised an overseas private client on the disposal of the Turner building in the English town of Slough to an institutional investor for £45 mln (EUR 67 mln). The property is a modern headquarter office development built in 2000 providing 86,780 sq.ft (8,000 m2) ...
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PropertyEU Archive
Catalyst completes Rome shopping centre acquisition
Catalyst Capital has completed the purchase of the Torrenova Shopping Centre from Dimafin for its WCC Europe Fund. The pan-European investment and asset management group had acquired a portfolio for EUR 174 mln that included the centre at the end of last year, but completion was delayed until after the ...
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PropertyEU Archive
Deka revives Hannibal sale
German property company Deka Immobilien Investment is planning to re-launch the sales process for a package of real estate assets, including the Hannibal portfolio, after an attempted sale fell through last February. Franz Lucien Moersdorf of Deka management board told German newspaper Immobilien Zeitung that the real estate assets will ...
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PropertyEU Archive
Hansteen Ormix acquires logistics assets in Tilburg
Hansteen Ormix has acquired two new properties in Tilburg, a logistics hotspot in the Netherlands. The first property comprises 13,000 m[sup]2[/sup] of useable space and has been rented by UPS Supply Chain Solutions. The second, almost double the size, has been taken over by Haans, a supplier of natural lifestyle ...
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PropertyEU Archive
Strategic checks into Paris hotel
Strategic Hotels & Resorts has acquired the Le Parc hotel in Paris from the Accor group for EUR 66 mln. The industry-leading owner and asset manager of high-end hotels and resorts has a 20-strong portfolio throughout North America and Europe operating under the Fairmont, Hyatt, Marriott brands, amongst others. The ...
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PropertyEU Archive
Iceland's Stodir acquires Keops of Denmark
Icelandic real estate major Stodir has acquired just under 97% of the issued shares of Keops, the largest listed property company in Denmark. Stodir said it will initiate a compulsory acquisition procedure for the remaining shares and has asked for an Extraordinary General Meeting to approve the de-listing of Keop's ...
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PropertyEU Archive
UBS spends EUR 70m in the Netherlands
UBS Global Asset Management has announced that its Euro Value Added Fund has acquired a portfolio of four buildings in Arnhem, Hoofddorp, Schiphol-Rijk and Utrecht in the Netherlands. The assets, providing a total of 40,400 m[sup]2[/sup] of office space, were acquired for EUR 70 mln from ING Real Estate. The ...
