Latest reports – Page 3654
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PropertyEU Archive
Meag to buy office development in Helsinki
Meag has agreed to buy three office buildings in the HTC Keilaniemi business park in Espoo, Finland from the SRV Group for EUR 89 mln. The acquisition is the first in Finland by the Munich-based asset manager for Munich Re and Ergo Insurance Group. SRV is developing three seven-storey office ...
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PropertyEU Archive
Vastned Retail launches share buyback
Rotterdam-based VastNed Retail is to buy back up to 500,000 of its shares from 17 August to 10 October in a programme managed by merchant bank Kempen & Co. 'The current share price, in conjunction with the ongoing high prices for retail property, makes a share buyback an attractive proposition; ...
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PropertyEU Archive
Professionals dismiss fears of property sector meltdown
Real estate organisations have dismissed fears that the sector in Europe is heading for a crash amid the continuing turmoil on the financial markets. The Royal Institution of Chartered Surveyors (RICS) remains upbeat on the situation in the UK, suggesting that positive rental growth will prevent a 'hard landing' for ...
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PropertyEU Archive
Portland Trust launches two projects in Bucharest
Czech-based developer Portland Trust is expanding its activities in Romania with two new major real estate projects in the north of Bucharest. Portland's managing director Robert Neale told Romanian financial newspaper Ziarul Financiar that a 36,000 m[sup]2[/sup] office building is in the early stages of development in the Floreasca district ...
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PropertyEU Archive
Spain's Colonial ponders relocating HQ to Paris
Inmobiliaria Colonial is considering moving its corporate headquarters from Madrid to Paris, ceo Mariano Miguel said on Thursday in an interview with the Financial Times. Miguel cited tougher borrowing conditions in Spain, particularly for real estate companies, as a reason for considering relocating to France. He also said the group ...
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PropertyEU Archive
Mirax buys $340m hotel in Turkey
Russia's Mirax Group has agreed with Turkish developer Cengiz Group on the purchase of the Sungate Part Royal Hotel, one of the most luxurious hotels in Turkey, for $340 mln (EUR 253 mln). The 1,000-room hotel is located in Kemer, a district of Antalya Province on the Mediterranean coast of ...
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PropertyEU Archive
Westfonds hints at EUR 1.5 bn asset sale
Westfonds, the real estate arm of German bank WestLB, is considering selling 29 closed-end real estate funds, according to a report in the Manager-Magazins. The funds own a total of 46 real estate assets. Westfonds said that a final decision has yet to be made, and it is not clear ...
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PropertyEU Archive
Property Group floats IPO plan
Denmark's Property Group is considering a flotation on the Copenhagen Stock Exchange in the next few years as part of a major change to its shareholder structure. The company announced on Thursday that Gudmundur Thordarson and real estate investor Birgir Thor Bieltvedt are acquiring a 45% interest in the company ...
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PropertyEU Archive
Lehman Brothers get green light for Beta fund bid
Italian stock marget regulator Consob has approved the takeover bid by Lehman Brothers' investment vehicle Chrysalis for the closed-end investment fund Beta Immobiliare which is managed by Fimit. The offer, which runs from 20 August until 21 September, comprises about 268,000 units, or 100% of the issued units. ...
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PropertyEU Archive
Even announces first closing of healthcare property fund
Geneva-based financial services group Even Capital has announced that its healthcare property vehicle has raised one third of its target size of EUR 300 mln at the fund's first closing. Even Rx Properties is a closed-end Luxembourg investment company set up to general rental income and capital growth through investments ...
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PropertyEU Archive
ODA welcomes Olympic Park planning recommendations
The Olympic Delivery Authority (ODA) said on Wednesday it has recommended approval of the planning applications for the Olympic Park. The Park, whose planning application was submitted in February, will be one of the largest new urban parks in Europe, including new sporting venues, highways, bridges, river works, utilities, and ...
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PropertyEU Archive
Immoeast buys large mall in Moscow
Immoeast is to invest EUR 450 mln in the GoodZone shopping centre in Moscow, the Vienna-based property company's largest single transaction ever. With total floor space of 146,000 m2, GoodZone is also amongst the largest retail projects in the Russian capital. The mall will house a total of 180 retail ...
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PropertyEU Archive
Canton Property lists on AIM
Canton Property Investment, which has ambitions of becoming a major commercial property developer in mainland China, has become the latest in a long line of foreign real estate companies to list in London. Having raised $50 mln (EUR 37 mln) in its initial share placing, the company said it was ...
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PropertyEU Archive
Signa acquires Generali tower in Vienna for EUR 60m
Dusseldorf-based Signa Property Funds has acquired the Generali Tower in Vienna for about EUR 60 mln. The main lease with insurer Generali runs until 2017 and will generate annual rent of just over EUR 3 mln this year. Earlier this month, Signa acquired the Ikaros business centre in the Neudorf ...
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PropertyEU Archive
Macquarie acquires major stake in German RE website
Australia's Macquarie Bank and Sydney-based media company Publishing and Broadcasting have led the acquisition by a syndicate of just over 66% of German real estate website Immobilien Scout. The purchase of the stake for EUR 375 mln from Aareal Bank values the leading property portal at EUR 540 mln. Aareal ...
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PropertyEU Archive
Private investor sells three historic buildings in Utrecht
A private investor has sold a portfolio of three properties with monument status in the heart of the Dutch city of Utrecht to a monument foundation for an undisclosed amount. The portfolio includes the Huize Pietas building, the Huis Ledenberch and the Hotel Des Pays-Bas. The first two assets are ...
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PropertyEU Archive
Fears on merger hit Astroc's share price
Astroc Mediterraneo shares closed 2.13% down at EUR 9. 65 on Wednesday after Spanish news agency Efe reported that the major shareholders in Catalan property company Aisa want to pull out of the merger agreement. Astroc's shares had gained 12.35% since July 25 when it was announced that Astroc ...
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PropertyEU Archive
St Modwen moves ahead with Wythenshawe regeneration
UK regeneration specialist St Modwen Properties has launched the latest phase of its £100 mln scheme in Wythenshawe Town centre with the opening of a new Asda food store. The £20 mln store is the centrepiece of a major redevelopment and refurbishment of the town centre planned by Manchester City ...
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PropertyEU Archive
Greece set to sell five tourist properties
The Greek government has unveiled details of public tenders to sell five tourist properties. The assets are owned by Tourist Development, the real estate arm of the Tourism and Development Ministry, Italy's news agency Ansa reported. They include a hotel casino on the island of Corfu, a 120-hectare plot ...
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PropertyEU Archive
Komex moves to new Warsaw HQ
Polish retail chain Komex is relocating its head office in December to Warsaw's Kopernik Office Buildings. Developed by Liebrecht & Wood, the property provides some 762 m[sup]2[/sup] of office space and 200 m[sup]2[/sup] of archives space. The Kopernik Office Buildings is located in Warsaw's fastest growing business and retail district. ...
