Latest reports – Page 3648
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PropertyEU Archive
Multiplex to build UK's highest tower
Australian property group Multiplex has been chosen to develop the 63-storey Pinnacle Tower at Bishopsgate in London's financial district. The skyscraper project was initially called Helter Skelter but was renamed when the Shariah-compliant real estate company Arab Investment bought it from Germany's Difa last May.
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PropertyEU Archive
Oppenheim shops in Poland
German fund manager Oppenheim Immobilien-Kapitalanlagegesellschaft has bought three hypermarkets and a shopping gallery in Poland from GE Real Estate for EUR 132 mln. Jones Lang LaSalle represented GE Real Estate in the deal, while Cushman & Wakefield advised Oppenheim, newspaper Commercial Real Estate reported. The assets located in Gdansk, ...
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PropertyEU Archive
Sponda increases interest in Ovenia
Helsinki-based real estate company Sponda has increased its holding in property management firm Ovenia from 51% to 70%. Sponda said it intends to further develop and expand Ovenia's business. Ovenia had a net turnover of EUR 8 mln in 2006 and manages 5.5 million m[sup]2[/sup] of property in Finland. ...
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PropertyEU Archive
Kenmore's interim results show strong progress
Kenmore European Industrial Fund (KEIF) booked a pre-tax profit of just over EUR 23 mln for the first half of 2007. The UK-based closed-end investment company raised EUR 206 mln on the London Stock Exchange in September last year. The company's property portfolio, valued at EUR 525 mln, saw an ...
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PropertyEU Archive
IRE acquires Brussels office
Frankfurt-based real estate company International Real Estate (IRE) has acquired a 27,600 m[sup]2[/sup] office near Brussels for an undisclosed amount. The property, which was formerly owned by Shell, is part of the 88,000 m[sup]2[/sup] Monnet Centre International Laboratory in Louvain la Neuve, Belgium. The oil company used the building, built ...
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PropertyEU Archive
Expo Real focuses on cross-border investment
The massive volumes of cross-border property investment is one of the key topics at the Expo Real property fair in Munich from 8 to 10 October. With research by Degi, the real estate investment arm of German insurer Allianz, indicating that global investment in real estate will likely reach a ...
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PropertyEU Archive
Glenkerrin plans EUR 600m development in Dublin
Glenkerrin Homes, the property development company owned by Irish developer Ray Grehan, has submitted a planning application for a 40,000 m[sup]2[/sup] mixed-use development in the heart of Dublin's commercial district. Construction costs for the project are estimated at about EUR 600 mln. The scheme, named Number One Ballsbridge, has been ...
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PropertyEU Archive
Experts reveal Polish opportunities
Poland remains an important target for most international and institutional property investors in Central and Eastern Europe, but a deep understanding of the Polish market is needed in order to get the most of their investments, according to auditing firm Deloitte. Real estate experts from Deloitte are teaming up with ...
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PropertyEU Archive
Sultan of Brunei tipped to buy Villa d'Este
The Sultan of Brunei, Hassanal Bolkiah, has reportedly made a EUR 280 mln volontary bid to acquire the Gran Hotel Villa d'Este luxury complex on Lake Como in Northern Italy. Newspaper Il Sole 24 Ore reported on Monday that the sultan, who owns the Dorchester Hotel in London, as well ...
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PropertyEU Archive
Accor ups stake in Poland's Orbis
Accor has increased its stake in Polish hotel and services company Orbis from 40.6% to close to 45.5%, newspaper Les Echos reported. Accor, Orbis' largest shareholder, has bought about 2 million shares for a total of EUR 42 mln. The French group told Les Echos it is not considering a ...
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PropertyEU Archive
WDP's half-yearly results up on last year
Belgian logistics property investor Warehouses De Pauw (WDP) has released its half-yearly figures, showing operational profits for the first half of the year of EUR 12.5 mln, up by EUR 1.1 mln on the same period last year. Its portfolio value increased to EUR 464 mln.
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PropertyEU Archive
Mitsubishi buys into UK residential fund
Grainger, the UK's largest residential property owner, has concluded its capital raising activity for G:res1, a market-rented residential investment fund, by selling a EUR 22 mln stake in the fund to Mitsubishi. This takes the total third-party investment in the fund to EUR 234.5 mln, and reduces Grainger's equity stake ...
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PropertyEU Archive
Hannover Leasing sells property in Munich
Hannover Leasing has sold an office complex in Munich for EUR 75 mln to cash in on the high prices commanded by German properties. The asset in the office park 'Siemens AG - Munich, St Martin-Str' is leased to Siemens until 2016. The building was marketed to investors in 2003-2004 ...
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PropertyEU Archive
Spanish investor buys office asset in Paris
Santander's subsidiary Banif Banca Privada has bought a 2,160 m[sup]2[/sup] office building in the second arrondissement of Paris on behalf of a Spanish client. The transaction price was around EUR 21 mln, French newspaper Business Immo reported. The deal reflects a net initial yield of 5.25%. L'Etoile Properties advised Banif.
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PropertyEU Archive
Merrill Lynch prepares London listing of two Russian firms
US investment bank Merrill Lynch has been appointed by two Russian real estate companies to organise listings on the main market of the London Stock Exchange, newspaper The Telegraph reported. The paper did not report the name of the companies but added that they will each raise some £1bn in ...
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PropertyEU Archive
Plaza Centers makes debut in Serbia
Plaza Centers has taken its first steps into the Serbian market by winning a competitive tender for a new shopping, entertainment and business centre in Belgrade. The leading emerging markets real estate company will develop the scheme on a 100,000 m[sup]2[/sup] site on the capital city's main thoroughfare.
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News
Unibail-Rodamco prepares post-merger management
NETHERLANDS - Unibail-Rodamco is almost ready to announce its top 50 management structure as its integration efforts are now on track, the €23.9bn property investor has said.
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News
TIAA-CREF sales push draws Alaska hire
UNITED STATES - TIAA-CREF Asset Management has signaled plans for a major institutional business drive with the expansion of its sales team and three key appointments.
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News
Milan buys flags future for Euro-office
ITALY - Segro, the serviced office firm, has acquired a Milan business park for €84.5m from fund manager Europa Capital Partners – a beachhead in a market segment known for the difficulty of cross-border investment.
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News
Austrian property "like the UK, but cheaper"
AUSTRIA - Austrian property firms will largely escape the sub-prime crisis and remain immune to interest rate rises, according to a report from Raiffeisen bank.
