Latest reports – Page 3673
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Magazine
Europe rides the CMBS wave
The crisis in the US sub-prime sector has given the whole industry a jolt, but Europe has not been affected. Lynn Strongin Dodds reports
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MagazineProperty derivatives and the hedging fallacy
Property derivatives have been promoted as a revolutionary tool for real estate portfolio risk management. Frédéric Ducoulombier argues that this is a misguided approach that obscures the key benefits of these instruments.
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PropertyEU Archive
Aaim active in Germany and Czech Republic
Active Asset Investment Management (AAIM) is reportedly entering Germany with the purchase of retail park near Dresden for EUR 40 mln. The transaction reflects an initial yield of 6.5%, magazine Property Week reported. The celebrity-backed private investor syndicate is also buying a shopping mall in Olomouc, the Czech Republic for ...
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PropertyEU Archive
Abramovich makes offer for 15% of FCC
Russian billionaire Roman Abramovich has made an offer to buy Colonial's 15% stake in Spanish construction company Fomentos de Construcciones y Contrates (FCC), according to news website elConfidentail.com. Abramovich, owner of the British football club Chelsea, is believed to be offering more than the EUR 78 per share, ...
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PropertyEU Archive
JLL: European hotel sector to slow down
The European hotel market will see a significant slowdown in the second half of 2007 compared with the first six months, according to Mark Wynne-Smith, ceo of Europe at Jones Lang LaSalle Hotels. 'This will guarantee that 2007 will not outstrip the record investment volume registered in Europe last year, ...
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PropertyEU Archive
Derwent sells 3 properties for EUR 258m
Derwent London has sold three non-core properties for £175 million (EUR 258 mln). The disposals are the first made by the Central London office specialist since its conversion to tax-efficient real estate investment trust (REIT) status on 1 July. The properties were acquired through Derwent Valley's merger with London ...
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PropertyEU Archive
GPT completes Halverton takeover
Australian investment trust GPT Group has completed the acquisition of Halverton Real Estate Investment Management, a pan-European investment and asset management firm with assets under management of over $2.2 bn (EUR 1.3 bn). GPT agreed to pay A$94 mln (EUR 70 mln) for the 50% it did not own in ...
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PropertyEU Archive
Lathe Investments to list Nordic land company on AIM
British property fund manager Lathe Investment has said it will list a Nordic land company on the AIM market of the London Stock Exchange later this year. The launch is being conducted in tandem with broker SP Angel and Matrix.
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PropertyEU Archive
Magnat consortium wins bid for Turkish portfolio
German real estate developer Magnat, Austrian property company Immoeast and Israel's Adama Holding Public have jointly acquired an EUR 136 mln portfolio in Turkey from Turkish bank YKB. Each of the three partners holds an equal stake in the consortium, which was awarded the portfolio at the conclusion of a ...
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PropertyEU Archive
Norwegian Property makes EUR 220m acquisition
Norwegian Property has acquired four office and retail properties at Oslo's Aker Brygge area from DnB NOR Bank for NOK 1.74 bn (EUR 220 mln). The fully-let properties consist of about 31,736 m[sup]2[/sup] of office, retail and restaurant premises. The net rental income is about NOK 77 mln per annum. ...
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PropertyEU Archive
London's office vacancy rates hit 5-year low
Office vacancy rates in London's West End and City of London districts are now at their lowest level for at least five years, according to global real estate adviser Cushman & Wakefield. Vacancy rates in the West End stand at 4.1% and in the City of London at 6.2%. The ...
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PropertyEU Archive
Cordea Savills buys office, Dutch distribution centre
Cordea Savills has acquired an office building in the southern Dutch town of Capelle aan den Ijssel on behalf of an Italian investor. Cordea Savills bought the 7,000 m[sup]2[/sup] office together with 175 parking spaces from Interesting Vastgoed for EUR 14 mln. The building is leased for ten years to ...
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PropertyEU Archive
CA Immo invests in Hamburg logistics centre
Vienna-based property group CA Immo has agreed to buy an ultra-modern 115,000 m[sup]2[/sup] logistics centre development project in Hamburg from the US private equity Carlyle Group. The centre will be leased entirely to the Swedish clothing retailer Hennes & Mauritz (H&M), which has agreed to let the space for at ...
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PropertyEU Archive
Castellum buys into commercial property for EUR 26m
Castellum, through several wholly-owned subsidiaries, has acquired 13 commercial properties in Sweden for SEK 241 mln (EUR 26 mln). Additionally, the company said it has sold three commercial properties for SEK 36 mln (EUR 4 mln) and decided on new construction and refurbishments for a total of SEK 134 mln ...
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PropertyEU Archive
Renta Corporacion spends EUR 60m on Barcelona's HQ
Spain's Renta Corporacion is to invest EUR 60 mln on the purchase and refurbishment of an office property in Barcelona that will be home to the property company's head office. This six-storey building, which includes commercial areas on the ground floor, is being sold by insurance company Mapfre.
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PropertyEU Archive
Inbisa buys stake in Barcelona mixed-use complex
Spain's property company Inbisa has acquired from entrepreneur Valentin Bascunana and the Patron capital fund a major stake in Barcelona 2, a mixed-use office and retail complex in Barcelona's city centre, for EUR 33 mln. The transaction is being financed with a loan provided by BBVA, Spanish newspaper Cinco Dias ...
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PropertyEU Archive
Europe biggest loser in 2007, says Global Property Research
European listed property stocks suffered major losses last month, according to the latest market update issued by Global Property Research. The GPR 250 Europe Index' total return performance was clearly negative at -9.1%. For the first half of 2007, the performance was even lower at -10.6%, making Europe the worst ...
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PropertyEU Archive
North RE fund to develop Ukrainian mall
ACMH-managed North Real Estate Opportunities Fund has bought a 185,000 m[sup]2[/sup] site in the Ukrainian city of Odessa for the development of the 100,000 m[sup]2[/sup] Riviera Shopping City, the city's first internationally anchor-tenanted destination shopping centre.
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PropertyEU Archive
Aldi set to enter the Czech Republic
German discount food retailer Aldi Sud is planning to enter the Czech Republic's retail market shortly. The company's activities in the country will be carried out by its Austrian subsidiary Hofer, which is already developing several outlets at the Austrian border with the Czech Republic. The company will be headquartered ...
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PropertyEU Archive
FDL invests EUR 360m in residential assets
Fonciere Developpement Logements (FDL) is acquiring two portfolios with more than 1,000 residential units from Generali and Fonciere des Regions for a total of EUR 314 mln, excluding taxes. Additionally, the company said that it has agreed on four development projects for an additional EUR 47 mln.
