Latest reports – Page 3651
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PropertyEU Archive
Credit Suisse shops in Amsterdam
Credit Suisse Asset Management has bought the Foreign Office Arch (FOA) building development in Amsterdam from Mahler4, a development joint venture of Fortis Ontwikkeling, G&S Vastgoed and ING Real Estate Development. The acquisition price is EUR 57.5 mln. The 13,000 m[sup]2[/sup] eight-storey property is part of the third development ...
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PropertyEU Archive
Lehman to close subprime unit
US investment bank Lehman Brothers said on Wednesday that it has decided to close its subprime-lending unit BCN Mortgage, and added that 1,200 employees will lose their job, about 4% of Lehman's workforce. The move will cut third-quarter earnings by $52 mln, the lender said in a statement.
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PropertyEU Archive
Philips Pensioenfonds set to sell off EUR 1 bn portfolio
Netherlands-based pension fund manager Philips Pensioenfonds is considering selling its direct real estate portfolio, Dutch newspaper Vastgoedmarkt reported on Thursday. The portfolio includes real estate assets valued at just over EUR 1 bn, according to the company's last annual report. This figure does not include a number of new projects ...
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PropertyEU Archive
Unibail-Rodamco opens 15,000 m[sup]2[/sup] extension to Bratislava shopping centre
Franco-Dutch property investor Unibail-Rodamco said Thursday it had opened the 15,000 m[sup]2[/sup] extension to the Aupark shopping centre in Bratislava, Slovakia. The company said its 50% share of the extension cost around EUR 31 mln and reflects a net initial yield of 7%.
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PropertyEU Archive
Russia's office development gathers pace in first half
Total new construction and refurbishment of Class A and B office space in Russia totalled some 490,000 m[sup]2[/sup] in the first half of 2007, a 50% rise on 2006 figures, according to new research by global advisor Colliers International. Class A accounted for 6% of the total new volume of ...
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PropertyEU Archive
Dolphin secures EUR 85m credit line for Aristo expansion
Athens-based Dolphin Capital Investors said its DCI Holdings Two unit, the holding company for Dolphin Capital Atlantis (DCA), had secured a EUR 85 mln debt facility from the Bank of Cyprus. The company said the funds will be used to refinance DCA unit Aristo Developers’ ongoing acquisition programme, which has ...
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PropertyEU Archive
Ashtrom pulls out of Russia jv, says prepared to go it alone
The investment arm of Israeli construction firm Ashtrom Group, Ashtrom Properties Ltd, said it had pulled out of a joint venture agreement with an unnamed Russian partner to buy a hotel and commercial property in a Russian city 200 km outside Moscow. Ashtrom said its local partner was in breach ...
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PropertyEU Archive
Eurobank Properties buy Bucharest office for EUR 26 m
Greece's real estate investment company Eurobank Properties has entered into an agreement to acquire 99.99% of the shares of Romanian company Eliade Tower, which is the owner of an office building in Bucharest.The acquisition price comes to EUR 26 mln. This is Eurobank Properties' third deal in the Balkan region ...
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PropertyEU Archive
Investa's shareholders approve EUR 2.8bn takeover bid
Sidney-based Investa Property Group said on Wednesday that its shareholders have approved a AU$4.7 bn (EUR 2.8 bn) takeover bid by Morgan Stanley. The offer values Investa shares at AU$3.08 each. Investa's shares were last traded at AU$2.99.
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PropertyEU Archive
New Europe begins trading in London
New Europe Property Investments, a property investment company incorporated in the Isle of Man, began trading on London Stock Exchange's junior Alternative Investment Market (AIM) on Wednesday. The company, which will initially focus on Romania, raised almost EUR 26 mln in its IPO. Under the terms of the placing, a ...
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PropertyEU Archive
Skanska to develop retail centre in Sweden
Swedish construction giant Skanska is building the new 35,000 m[sup]2[/sup] Stora Bernstorp retail centre in the southern Swedish municipality of Burlov. The investment volume for the project amounts to SEK 420 mln (EUR 48 mln). The first stage comprises three buildings with a total of 28,000 m[sup]2[/sup] of lettable area ...
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PropertyEU Archive
Australians pour AU$5.5bn into European property
The value of Australian investment in European commercial property surpassed the inflows into American real estate for the first time in 2006, new data from global advisor DTZ indicates. Europe accounted for 46% of the AU$12 bn invested in real estate outside Australia last year. America's share was slightly less, ...
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PropertyEU Archive
Alstria set to become G-REIT by end-2007
German property company Alstria Office is in line to become the first German real estate investment trust as it plans to convert to the tax-friendly status by the end of 2007. Ceo Olivier Elamine said attaining the status is a priority for the company as he is convinced by the ...
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PropertyEU Archive
Westgrund acquires mixed portfolio in Ludwigshafen
German property company Westgrund has bought a portfolio of 440 apartments and 54 commercial units in the southern German city of Ludwigshafen for EUR 20 mln. Most of the assets are located in the centre of Ludwigshafen.
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PropertyEU Archive
DHL Exel takes further 12,000 m[sup]2[/sup] in Nijmegen
Logistics services company DHL Exel has leased an additional 12,500 m[sup]2[/sup] at the Bolsuis logistics centre in the Nijmegen region of the Netherlands. DHL was already leasing 15,400 m[sup]2[/sup] at the 28,000 m[sup]2[/sup] facility and it is now the sole tenant. Property advisor DTZ Zadelhoff acted for DZ Vastgoed, ...
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PropertyEU Archive
Echo Investment to build office park in Lodz
Echo Investment is developing a 30,000 m[sup]2[/sup] office park of three office buildings and 400 parking spaces in Lodz, Poland's second largest city. An application for a construction permit has been filed and Echo hopes to start work in the first half of 2008, Polish newspaper Eurobuild reported. Echo Investment's ...
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PropertyEU Archive
Foreign investment in Spanish RE rebounds
Foreign investment in Spanish real estate rose by almost 20% to EUR 2.25 bn in the first five months of 2007 compared with the same period the year before, data published by the central bank Banco de Espana indicates. The increase runs contrary to the trend of the last four ...
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PropertyEU Archive
Standard Live sells UK portfolio for £42m
Standard Life Investments has concluded the sale of six properties in the UK to Sackville Properties for £41.5 mln (EUR 61 mln), reflecting a net initial yield of 6.6%. The portfolio comprises five office buildings and one industrial property in Harlow, Cardiff, Port Talbot, Welwyn Garden City, Swindon and St. ...
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PropertyEU Archive
Mitsui in EUR 199m City of London sale
Japanese conglomerate Mitsui has sold two office buildings in the City of London for a total of £135 mln (EUR 199 mln). The properties, acquired by private clients of DTZ, are leased to Royal Bank of Canada for an annual rent of £7.5 mln for the next four years. The ...
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PropertyEU Archive
Morley acquires office in Amsterdam
Morley has acquired the Busitel II office building in the Sloterdijk district of Amsterdam on behalf of its European Property Fund. The property, sold by De Groene Groep Beleggingen for EUR 34 mln, provides some 12,500 m[sup]2[/sup] of space and is fully let. This is the fourth acquisition by Morley's ...
