Latest reports – Page 3656
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PropertyEU Archive
IVG acquires EUR 1.3bn Allianz portfolio
German listed property company IVG Immobilien has bought a portfolio from German insurer Allianz for about EUR 1.3 bn, reflecting a net initial yield of 5.3%. In a statement issued on Tuesday, IVG said the portfolio consists of seven 'high-quality' office properties: one each in Frankfurt and Hamburg, ...
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PropertyEU Archive
HSH Nordbank provides EUR 120m financing to BGP
German regional bank HSH Nordbank has provided EUR 120 mln financing to BGP, a joint venture between Australian groups Babcock & Brown and GPT, for the purchase of a property portfolio in Germany. The portfolio comprises 4,300 residential units with a total floor space of 260,000 m2, as well as ...
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News
Morgan Stanley buys a place in assisted homes
UK - Asset manager Morgan Stanley is moving into the UK senior living space through a joint venture worth $1.1bn with established real estate services firm Sunrise Senior Living. This is the first such assisted living market deal in the UK a
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News
European appreciation to slow gains in global property
GLOBAL – Invested real estate market is expected to grow by almost 40% in value over the next five years but the European market is likely to see a reduction is appreciation, according to research presented by RREEF. Details of the latest qu...
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News
Turkish retail market growth 'needs work' - VastNed
TURKEY-NETHERLANDS - Expansion into the Turkish retail market could take more work than initially expected, the €1.8bn property investor VastNed Retail has indicated. "The market is not fully ready yet for institutional investments as...
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News
Cap rates unchanged by debt market volatility
UNITED STATES – Real estate investors are now turning their attention to returns as cap rates on real estate investments in the United States were unaffected through the second quarter despite earlier volatility in the debt markets, suggests Pr...
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News
Real estate boosts ING's assets
GLOBAL – Dutch banking group ING saw the assets under management in its real estate division increase by 37% to €74.7bn over the last year. The "ongoing demand for property investment funds at ING Real Estate" led to strong i...
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News
Nieuwe Steen eyes foreign investments
NETHERLANDS - Property investment company Nieuwe Steen Investments (NSI) is considering extending its activities across the Dutch border in order to improve its returns. "Given the extreme price level and rising interest rates, the options f...
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News
Mexico industrial market offers strong opportunity
UNITED STATES - Pension funds in the United States are increasingly looking at the Mexican industrial market as a solid investment opportunity. Rob Kochis, principal with real estate consultancy The Townsend Group, said the Teacher Retirement Syst...
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News
Contra Costa County to cross Reits border
UNITED STATES - Contra Costa County Employees’ Retirement Association has decided to take its US REIT investment program to the global stage. The pension fund will be conducting a search for REIT managers over the next few months, according ...
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News
IVG plans office move into G-Reit
GERMANY – German real estate investment firm IVG Immobilien is expecting to convert its office assets into a real estate investment trust (Reit) but not before Spring 2008, according to the firm’s first half financial results. Details ...
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News
Market slowdown bring unitised redemptions
UK – Returns on pooled property remain strong but there was a significant increase in the outflow of money from UK property funds in the second quarter of this year, according to figures from the Association of Real Estate Funds (AREF). Infl...
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PropertyEU Archive
Spazio Investment to acquire major Milan freight terminal
Spazio Investment has submitted a binding offer to acquire one of the largest freight terminals in the Milan area from Ortensia for EUR 31.5 mln. The 29,200 m[sup]2[/sup] asset is on a 150,000 m[sup]2[/sup] plot of land in Melzo, about 20 km east of Milan. The property includes 3,000 ...
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PropertyEU Archive
Foreign investors continue 'love affair' with UK
Foreign investors accounted for over 45% of the UK real estate investment market in the first half of 2007, according to new research from Jones Lang LaSalle. This equates to £12.5 bn of the £27 bn transacted in the UK in the first six months of this year. ...
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PropertyEU Archive
RREEF acquires UK shopping centre for EUR 30m
RREEF, the property arm of Deutsche Bank, has exchanged contracts with London & Associated Properties (LAP) for the acquisition of the Saxon Square shopping centre in the Dorset town of Christchurch in the UK for just over £20 mln (EUR 30 mln). LAP said in a statement that ...
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PropertyEU Archive
PIK Group picks up Russian design firm
Russian residential real estate developer PIK Group has announced that it has acquired a majority stake in architectural design firm Novorosgragdanproekt for $6 mln (EUR 4.4 mln). PIK says that the firm is a leader in its field in the Krasnodar region, whose southern border is formed by the Black ...
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PropertyEU Archive
Anglo Irish, Alanis purchase Liverpool's Metquarter shopping centre
Anglo Irish Bank Private Banking and Alanis Capital, the investment firm run by the family of Dublin financier John McCormack, have acquired the Metquarter shopping centre in Liverpool from a joint venture for a sum believed to be in the region of EUR 120 mln. The 12,600 m[sup]2[/sup] scheme, which ...
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PropertyEU Archive
Deutsche RE spends EUR 45m in Frankfurt and Hamburg
Deutsche Real Estate (Deutsche RE), in which UK-based commercial property investment firm Summit Germany took a 76% controlling stake earlier this month, has acquired an office building in Frankfurt and a logistics centre in Hamburg. The Frankfurt property was acquired for EUR 29 mln and has a lettable area of ...
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PropertyEU Archive
Lamda subsidiary claims victory in Beko contest
Athens-listed property company Lamda Development has announced that its Serbian subsidiary, Property Development DOO, has bid almost EUR 58 mln in the public contest for the sale of a 43,000 m[sup]2[/sup] building owned by Beko, which is bankrupt. Lamda said this was the highest offer for the building and application ...
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PropertyEU Archive
Iberdrola/Caixa consortium buys into Lisbon towers
Iberdrola Inmobiliaria and Caixa Geral de Depósitos have acquired a 50% stake in the Colombo Towers project in Lisbon from co-developers Sonae Sierra and ING Real Estate for EUR 12 mln. The two consortiums, Sonae Sierra-ING RE and Iberdrola/Caixa Geral de Depósitos are co-owners and co-developers of the towers, which ...
