Latest reports – Page 3646
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PropertyEU Archive
AFI Development signs $280m loan with Sberbank
AFI Development said on Monday it has signed a $280-mln (EUR 205 mln) loan agreement with Sberbank, the commercial savings bank of the Russian Federation, to fund part of the Tverskaya Zastava development project in Moscow.
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PropertyEU Archive
Carlyle's acquisition of Freeport nears completion
The on-again, off-again saga of the takeover of UK factory outlet developer Freeport by CEREP Investment, the Carlyle subsidiary, seems to be on again. Two weeks ago 54% of Freeport shareholders had accepted Carlyle’s offer, and the Takeover Panel gave the rest of them until 31 August to accept. When ...
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PropertyEU Archive
Hypo arranges financing for LaSalle IM
Hypo Real Estate Bank International has arranged a EUR 26.7 mln investment financing and payment guarantee facility to a fund managed by LaSalle Investment Management. The fund will use the facility to guarantee and finance the acquisition of an eight-storey office building located at 46 rue la Boétie in the ...
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MagazineHitting the buffers
The credit squeeze could be bad news for highly leveraged real estate investments. Simon Martin reports
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PropertyEU Archive
Tiger Developments set for Glasgow's £100m revamp scheme
Tiger Developments announced on Friday that it plans to carry out a £100 mln (EUR 147 mln) redevelopment project in Glasgow. The company said it has purchased a 40,500 m[sup]2[/sup] site for the project, which will include 358,000 sq ft (33,300 m2) of office space, a 130-bed hotel and some ...
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PropertyEU Archive
Meinl EL to invest EUR 60m on Russian mall
Meinl European Land is expanding in Russia with the development of a shopping centre with an integrated DIY market and electronic superstore in the Mineralnyye Vody region of Southern Russia. The investment volume for the project is estimated at EUR 60 mln, reflecting a yield of 13%.
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PropertyEU Archive
Corio to sell EUR 1 bn office-industrial portfolio
Dutch property company Corio expects to raise as much as EUR 1 bn by selling its office and industrial portfolio. The company, which presented its first half results on Friday, said it is planning to sell the major part of its office and industrial assets, which account for about 19% ...
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PropertyEU Archive
Klepierre completes 3-for-1 stock split
French retail property giant Klepierre is to complete a 3-for-1 stock split on Monday to bring the par value per share from EUR 4.2 to EUR 1.4. The split will triple the number of Klepierre shares to a total of 138.5 million.
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PropertyEU Archive
Polis Immobilien buys nine offices in Germany
Berlin-based Polis Immobilien has acquired nine office properties in Germany. The real estate company bought eight buildings from Stuttgarter Versicherung and one property from a subsidiary of Hypo Real Estate Bank Group. The properties have a total rental area of around 19,600 m2, 86% of which is currently let. The ...
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PropertyEU Archive
Orco's NAV per share jumps 65%
Orco Property Group has reported that its net asset value per share for the first half of 2007 rose 65% year-on-year and over 16% since 31 December last year. First-half net profit was up 106% to EUR 55 mln as revenues climbed 270% to EUR 125 mln from EUR 34 ...
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PropertyEU Archive
GE grows Dusseldorf portfolio to EUR 370m
GE Real Estate Germany has increased the value of its portfolio in Dusseldorf to about EUR 370 mln following the acquisition of five mixed-use properties in the city. The financial details of the off-market transaction with a private investor were not disclosed. But in a statement, GE Real Estate said ...
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PropertyEU Archive
Metrovacesa launches share swap with Gecina
Spanish real estate giant Metrovacesa has informed the country's securities watchdog CNMV that it is to mount a share swap with its French subsidiary Gecina. The move is part of Metrovacesa's separation plan agreed last February and which is aimed at ending a year-long battle for control between Metrovacesa's main ...
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PropertyEU Archive
Young Group to launch 45-storey Canary Wharf tower
Young Group is launching the development of the Landmark east tower, a 45-storey skyscraper in Canary Wharf. At 140 metres, the structure will be one of Europe's tallest residential buildings. Due for completion at the end of 2010, the skyscraper will be located only four minutes' walk from Canary Wharf's ...
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PropertyEU Archive
Peel sells Bristol hotel
UK hotel operator Peel Hotels has reached agreement on the sale of the Avon Gorge Hotel in Bristol for £15.5 mln (EUR 23 mln) and an unspecified Bradford property for an additional £2 mln (EUR 3 mln). The firm said it will be totally debt-free after completion of the transactions. ...
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PropertyEU Archive
Allreal H1 net up 29.7%, share issue planned
Zurich-based property firm Allreal said its first-half net profit came in at CHF 56.3 mln (EUR 34.3 mln), up 29.7% on the same period last year. Exluding a revaluation gain, operating profit for the period rose to CHF 40.6 mln from CHF 35.2 mln in the year-earlier period. Allreal said ...
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PropertyEU Archive
Befimmo completes largest capital increase
Brussels-based Befimmo has raised EUR 261 mln in the largest capital increase by a listed real estate company in Belgium in order to reduce debt and build up its reserves for further acquisitions. The operation in early June followed the coup late last year when Befimmo beat off stiff competition ...
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PropertyEU Archive
ING Office Fund delivered total retun of 33% in 2006/2007
ING Real Estate has announced the annual results of ING Office Fund, a public property trust listed on the Australian Stock Exchange and managed by ING Real Estate. The fund reported a net profit of AU$ 572.7 mln (EUR 359.7 mln) for the year ended 30 June 2007. The fund ...
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PropertyEU Archive
Qatari investor sells Paris conference centre for EUR 465m
Qatar-based Barwa Real Estate announced it has sold the International conference centre in the 19th arrondissement of Paris to an unnamed 'strategic investor' for EUR 465 mln. The Qatari group bought the centre last April at an auction organised by the government for EUR 404 mln. Barwa said it would ...
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PropertyEU Archive
Colliers starts leasing of Southern Serbia's first mall
Colliers International Serbia said it has started the leasing of the Interspeed shopping centre in Serbia. Interspeed, located in the Presevo area, is the fist shopping mall in the whole of Southern Serbia, Colliers said. The centre is scheduled to open in the summer of 2008.
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PropertyEU Archive
Westfield reports 7.4% jump in HY earnings
Westfield Group, the largest shopping centre owner in the world by market valuation, has announced a 7.4% increase in operating profit to AU$ 844 mln (EUR 505 mln) for the first six months of 2007. But overall net profit, including property revaluations and currency adjustments, came to AU$1.97 bn, ...
