Latest reports – Page 3669
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PropertyEU Archive
UK weighs new rules for property funds
The UK government is considering introducing new regulations that would make open-ended property funds tax-friendlier and therefore more attractive to investors.
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PropertyEU Archive
Carlyle buys development site in Stuttgart
Global private equity firm Carlyle Group said on Wednesday it has acquired the building occupied by Dutch telecoms firm Versatel in Stuttgart, Germany, from German energy supplier EnBW for an undisclosed amount. Carlyle plans to build a modern retail and office complex on the site, once the lease contract with ...
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PropertyEU Archive
Foncière des Régions holds 68% of Beni Stabili
Foncière des Régions has tendered 68% of Beni Stabili's share capital in the public exchange offer which closed on Tuesday, the two companies said in a joint statement on Wednesday. Italy's Beni Stabili said that that percentage would fall to 58.8% on a fully diluted basis, taking into account the ...
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PropertyEU Archive
DIC Asset acquires EUR 155m portfolio
Frankfurt-based DIC Asset has acquired a portfolio of eight real estate complexes in Germany for a total sum, including transaction costs, of EUR 155 mln. The portfolio, covering an area of around 50,000 m2, was acquired in two off-market transactions. It includes the 'Rheinwerk' in Bonn, two properties in Cologne's ...
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PropertyEU Archive
CGG study: open-end funds and REITs boost performance
Investors who add shares of open-end property funds and REITs to their portfolios realise more attractive risk-return ratios than those who don't, according to a study commssioned by Germany's Commerz Grundbesitz group. The study, carried out by the Institut fur Vermogensaufbau in Munich, was based on an assessment of more ...
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PropertyEU Archive
IGD acquires retail park near Modena
Italy's property firm Immobiliare Grande Distribuzione (IGD) has agreed to buy a retail park development in Spilamberto near Modena, northern Italy, from Le Alte. Construction is scheduled to start in 2008, with the park due to open in 2010. Total investment comes to EUR 60 mln. IGD will pay about ...
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PropertyEU Archive
ING Real Estate wins £560 mln pension fund mandate
ING Real Estate has won a £560 mln (EUR 829 mln) advisory mandate for West Midlands' Metropolitan Pension Fund's direct property portfolio. The deal represents one of the UK's largest pension fund property mandates, ING Real Estate said in a press release. The company took the contract over from previous ...
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PropertyEU Archive
Pirelli RE sets up joint ventures in Romania and Bulgaria
Pirelli RE has set up two joint ventures with the Unicredit group in Romania and Bulgaria as part of its expansion drive in Central and Eastern Europe. The Italian property company said on Wednesday that it had launched Pirelli RE Romania together with Uncredit Tiriac Bank (80% Pirelli and 20% ...
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PropertyEU Archive
GCP shops in London with £160m buy
Great Portland Estates and Liberty International's subsidiary Capital & Counties have agreed to buy six London properties in four separate transactions for £160 mln (EUR 238m). The deals are being made through the companies' 50-50 central London joint venture GCP. GCP bought three properties in Regent St, central London, ...
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PropertyEU Archive
Crédit Agricole acquires stake in Monne-Decroix
Crédit Agricole Immobilier said it is acquiring a majority stake in French residential property builder Monne-Decroix for an undisclosed amount. The statement confirms an earlier report by French newspaper La Tribune that the bank's property business bought a 70% stake in Monne-Decroix. With about 500 employees, Monne-Decroix posted a turnover ...
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PropertyEU Archive
Green light for Colonial share issue
Spain's stock market regulator CNMV gave the go-ahead on Wednesday to Inmobiliaria Colonial's EUR 709 mln share issue, the company said in a statement. Colonial plans to issue about 230 million new shares at EUR 3.10 per share. Proceeds will be used to help finance Colonial's EUR 2 bn bid ...
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PropertyEU Archive
Sainsbury confirms £12 bn Qatari bid
UK supermarket group Sainsbury's confirmed on Wednesday that it has received an informal takeover offer of 610p a share from Delta Two, a Qatari investment group. The bid values Sainsbury's at about £12 bn (EUR 18 bn) and comes three months after the retailer rejected a high-profile offer from private ...
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PropertyEU Archive
JLL sees 'flight to quality' in European markets
Global direct real estate investment reached a record $ 382 bn (EUR 277 bn) in the first half of 2007, provisional figures from Jones Lang LaSalle show. This represents a 16.6% increase on the same period last year, and surpasses global real estate investment for the whole of 2003, JLL ...
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PropertyEU Archive
Treveria spends EUR 331m in first half
UK-based Dawnay, Day Treveria acquired a total of 71 properties in the first half of 2007 for EUR 331 mln, the company said in a pre-close portfolio update and trading statement this week.
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PropertyEU Archive
Survey: interest rate rise will slow UK deal flow
A further quarter per cent rise in interest rates will lead to a general decline in the number of commercial real estaste transactions in the UK over the next 12 months, according to a survey of 400 property professionals by investment bank Investec.
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PropertyEU Archive
Hypo RE completes first Dubai deal
Hypo Real Estate Bank International, a member of Hypo Real Estate Group, announced on Tuesday that it has provided its first financing facility in Dubai, a $ 82.5 mln Sharia-compliant credit line for Pramerica Real Estate Investors, Kleindienst & Partner and Al Amiri Group, for the purchase of the European ...
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PropertyEU Archive
Chagala shops in Kazakhstan
Kazakh real estate developer Chagala Group has acquired a 3.4-hectare site in Aktau, in Western Kazakhstan, to develop two 2000 m[sup]2[/sup] warehouses. 'Demand in the region continues to be very strong and the purchase of this land will help us satisfy the ever growing demand from our oil and gas ...
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PropertyEU Archive
Aisa invests EUR 40m in mixed-use project
Spanish property company Aisa said it is investing some EUR 40 mln in a mixed-used office and retail project located in Granollers, near Barcelona. The Granollers Ronda Sud development will cover some 15,000 m[sup]2[/sup] of commercial space over three storeys and include 450 parking spaces. About 9,000 m[sup]2[/sup] of the ...
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PropertyEU Archive
Singapore spends EUR 444m in Southampton
UK real estate giant Hammerson announced this week that it has sold a 50% stake in the WestQuay Shopping Centre in Southampton to GIC Real Estate, the property investment arm of the Government of Singapore Investment Corporation for £299 mln (almost EUR 444 mln). Following the sale, Hammerson and GIC ...
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PropertyEU Archive
JLL: Belux posts record investment volumes in first half
Real estate investment in Belgium reached a record EUR 2.3 bn in the first half 2007, up 35% on the year-earlier period, according to figures released by Jones Lang LaSalle on Tuesday. In Luxembourg, total investment has so far reached a record EUR 1.5 bn, compared to the record EUR ...
