Latest reports – Page 3668
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PropertyEU Archive
Beni Stabili teams up with Greenway Costruzioni
Italy's Beni Stabili and Greenway Costruzioni agreed on Wednesday to launch a new joint venture active in real estate development in Northern Italy. The partnership will aim to purchase build-on land and medium-size properties, primarily for commercial use, in Lombardy, Northern Italy. The properties will subsequently be renovated or developed.
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PropertyEU Archive
Klepierre shops near Toulouse for EUR 251m
In a transaction worth a total EUR 250.7 mln, French property company Klepierre has purchased two hypermarkets and expansion projects for malls that it acquired in 2004 in the Greater Toulouse area. Klepierre's share of the investment is EUR 201.1 mln, with the insurer Cardif Assurance Vie responsible for the ...
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PropertyEU Archive
CBRE Investors Strategic Partners Europe Fund III buys 22 assets in The Netherlands
CB Richard Ellis Strategic Partners Europe Fund III, a fund managed by CB Richard Ellis Investors, has acquired from a Dutch private investor a real estate portfolio comprising 22 properties (two logistic centres and 20 office buildings) for an undisclosed amount. The properties are located throughout the Netherlands and represent ...
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PropertyEU Archive
Portugal Telecom to sell more than 100 properties in 2007
Portugal Telecom plans to sell more than 100 properties this year as part of a plan to raise EUR 90 mln from real estate disposals in the next three years, the head of PT Imobiliaria Rui Pedro Soares told Diario de Noticias on Wednesday. The telecoms group has asked accountancy ...
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PropertyEU Archive
Pehac raises EUR 115m in Amsterdam's IPO
Pan-European Hotel Acquisition Company (Pehac), a Dutch company set up to buy medium-sized hotels in major Western European cities and aimed at improving the hotels' operations, was listed Thursday on the Amsterdam market of NYSE Euronext. Pehac offered some 14 million new shares and warrants at a price of EUR ...
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PropertyEU Archive
EIB acquires 75% of Romanian electronics retailer
Equest Investments Balkans (EIB) subsidiary Lynx Property has agreed to purchase a 75% stake in Romanian consumer electronics and retailer Domo Retail for an undisclosed sum. Domo's founding shareholders will at least initially retain a 25% stake.
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PropertyEU Archive
CIT Group buys office centre in Krakow
UK property company CIT Group has purchased the Euromarket Office Center in Krakow, Poland, from ZEI Fund for a total sum of over EUR 32 mln. ZEI Fund is managed by Invesco Real Estate, which acquired the centre in 2002. The deal marks CIT's first foray into Central and Eastern ...
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PropertyEU Archive
Alrov bids for Covent Garden asset
Tel Aviv-based real estate firm Alrov is reportedly in the running to buy an asset in London's Covent Garden, the Broitis State Gazette reported. The Israeli company, which offered some EUR 58 mln for the building, plans to convert it into a 150-room hotel. Alrov, controlled by chairman Alfred Akirov, ...
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PropertyEU Archive
JLL sells Hilton Rabat in Morocco's largest single-asset hotel deal
Jones Lang LaSalle Hotels has sold the Hilton Rabat in Morocco for around $89 mln (EUR 65 mln) to Risma Holdings, the Moroccon affiliate of Accor. The purchase of this five-star, 269-room hotel represents the country's largest ever single hotel deal, JLL said. The property, developed on a nine-hectare-site, includes ...
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PropertyEU Archive
Vastned acquires office property in The Hague
Vastned O/I has bought The Red Elephant office property located on Zuidhollandlaan in The Hague, for EUR 33 mln including costs. The building, dating back to 1924, provides a total lettable floor area of over 10,000 m2, as well as 78 parking spaces. The deal reflects a net initial yield ...
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PropertyEU Archive
Develica Deutschland snaps up German portfolio
German property company Develica Deutschland said it has acquired a mixed-use portfolio in Germany for EUR 270 mln, inclusive of costs. The acquisition takes the AIM-listed company's property assets to more than EUR 1bn. The deal reflects a net initial yield of 6.1%. The portfolio includes 21 properties across the ...
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PropertyEU Archive
Southside Capital sells two Edinburgh assets
Southside Capital, a joint venture between Gladedale and Bank of Scotland, is selling two assets with a total space of 180,000 sq ft (16,800 m2) for £81.4 mln (EUR 120 mln). The company has also leased some 50,000 sq ft at Edinburgh's premier urban development area Quartermile to Maclay Murray ...
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PropertyEU Archive
ING Real Estate buys TV office building in Barcelona
ING Real Estate said it has acquired the Imagina TV office building in Barcelona, Spain for EUR 57 mln. The property will be added to the company's European Office Fund.
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PropertyEU Archive
Quinlan Private buys into Frankfurt complex
Private equity group Quinlan Private has acquired a 50% stake in a recently developed office and hotel complex in the centre of Frankfurt valued at some EUR 60 mln. Quinlan acquired the stake through a joint venture with German developer FOM Real Estate, which holds the other 50% in the ...
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PropertyEU Archive
Cordea Savills launches German retail fund
Property fund manager Cordea Savills has launched a closed-end German retail fund, which has raised more than EUR 190 with insitutional investors in its second close. Based in Luxembourg, the fund aims to achieve returns of 10% and an annual profit distribution of 5%, Cordea Savills said. It has a ...
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PropertyEU Archive
Goldman Sachs ups bid for Berenice
US investment bank Goldman Sachs has raised its offer for the Italian office fund Berenice to EUR 771 per unit, beating Merrill Lynch's rival bid of EUR 770 per unit. Goldman Sachs previously offered EUR 762 per unit.
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PropertyEU Archive
Prokom owner seeks stronger Russian presence
Ryszard Krauze, owner of Polish software company Prokom, said his real estate development arm will scale up its investments in Russia to $ 500 mln (EUR 362 mln) this year if two major projects in Moscow come through.
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PropertyEU Archive
Ablon to let office space to Hungarian Post Office
Ablon, the AIM-listed Hungarian real estate developer, said that its Global Immo subsidiary has won a public tender for around 24,000 m[sup]2[/sup] of office space in Budapest from the Hungarian Post Office. The deal is subject to a 10-year lease contract that Ablon says it expects to be finalised by ...
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PropertyEU Archive
DIC sells Erfurt post office to Degi
Deutsche Immobilien Chancen (DIC) has sold the main post office in Erfurt to property investment company Degi for EUR 55 mln.
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PropertyEU Archive
L&G gets go-ahead for mixed-use development
Legal & General Property (L&G) received planning permission this week for a 90,000 m[sup]2[/sup] office and retail development, to be known as 'Walbrook Square', on Queen Victoria street in the heart of London. Designed by architects Atelier Foster Nouvel and to be developed by Stanhope, the scheme was given the ...
