Latest reports – Page 3674
-
PropertyEU Archive
Merrill Lynch raises bid for Berenice
Merrill Lynch-owned fund Galante has raised its offer for the Italian office fund Berenice from EUR 760 to EUR 770 per unit, representing an overall outlay of EUR 437 mln. The offer surpasses the rival bid made by Goldman Sachs on Wednesday at EUR 762 per unit. The offer is ...
-
PropertyEU Archive
LST takes over Amec's project investment business
Land Securities said on Thursday that its subsidiary Land Securities Trillium has agreed to buy Amec's project investments business for £163.5 mln in cash. The purchase involves Amec's stakes in nine signed Private Finance Initiative projects, one preferred bidder project and the PFI/PPP bidding and asset management team.
-
PropertyEU Archive
Eurohypo funds Bank of Ireland's £209m retail purchase
Eurohypo, Europe's largest commercial real estate bank, has funded the Bank of Ireland Private Banking's £209 mln (EUR 308 mln) acquisition of a 50% stake in New Mersey Retail Park in Liverpool, England. This is the seventh-largest retail park in the UK, and includes over 44,000 m[sup]2[/sup] of commercial space ...
-
PropertyEU Archive
CBRE advises on Inbev's EUR 419m Immobrew sale
CB Richard Ellis Belgium acted as adviser for Inbev on the sale of 90% of Immobrew to Cofinimmo for a total amount of EUR 419 mln. Immobrew owns a portfolio of 824 pubs and some residential sites in Belgium and 245 pubs and some residential real estate in the Netherlands. ...
-
PropertyEU Archive
Keltic to develop Baltic's largest corporate park
Keltic Global Estonia is developing the Baltic region's largest corporate park, NordShore, for a total investment of EUR 350 mln. The park, on a 78-hectare site, is located next to the largest port in Estonia, Muuga Harbour, and will include plot sizes varying from 5,000 m[sup]2[/sup] - 20,000 m[sup]2[/sup]. The ...
-
PropertyEU Archive
BGP Urban to develop Birmingham £100m scheme
Birmingham city centre will be home to a £100 mln mixed-use scheme comprising shops, 14,000 m[sup]2[/sup] of Grade-A offices, a four-star hotel and a residential tower to be developed on a 1.25-acre site at Birmingham's Five Ways. Developer BPG Urban has announced it is planning to develop the scheme through ...
-
PropertyEU Archive
Ukraine's rental rates saw 50% increase in 2006
With the Ukraine economy continuing to grow, demand for office space in the country is set to increase from the current level of 790,000 m2, German real estate consulting company NAI Apollo said. Occupancy rates stands at an average of 97% in the country, while rental rates are rising some ...
-
PropertyEU Archive
Hypo RE posts net income EUR 183m, raises its forecast for 2007
Hypo RE said it posted a net income before taxes of about EUR 183 mln in the second quarter of 2007. The group added that this result is mainly due to the exceptionally high new business of EUR 10 bn in this period, which is reflected in considerably higher net ...
-
PropertyEU Archive
Fabian agrees Bucharest residential contract
AIM-listed Fabian Romania Property Fund announced on Wednesday that its joint venture development company, Phoenix Park, has agreed a fixed-price contract with Mivan Kier for the construction of apartments at the New Town development in the east of Bucharest.
-
PropertyEU Archive
Dublin office take-up rises 55%
Total office take-up in Dublin during the first half of 2007 amounted to over 121,000 m2, a 55% increase on last year's record take-up level, according to CB Richard Ellis's latest Dublin Office Market Bulletin. 'This boom in office letting activity in Dublin, similar to that being experienced in many ...
-
PropertyEU Archive
Metro Baltic to build EUR 200m project in Riga
Metro Baltic Horizons, the property investment company focusing on office and residential developments in the Baltic State capitals and St Petersburg in Russia, said it has agreed to purchase a 14-hectare site in Riga, Latvia, for an initial amount of EUR 10 mln. Completion of the transaction is expected within ...
-
PropertyEU Archive
British Land completes EUR 350m Spanish shopping centre buy
UK property firm British Land has completed the purchase of a shopping centre and retail park in the Spanish town of Murcia for EUR 350 mln as part of a joint venture with Pillar Retail Europark Fund (PREF). The deal reflects an initial yield of around 5%, British Land said. ...
-
PropertyEU Archive
Berenice to sell five Rome assets for EUR 300m
Pirelli RE's management board said on Wednesday that it has decided to auction off five trophy assets owned by Berenice, the office fund it manages. The company added that the properties will go on the market for a starting price of at least EUR 300 mln.
-
PropertyEU Archive
Corio snaps up Turkish shopping centre for $44m
Dutch property firm Corio has acquired a 20-year lease on the Zirvekent shopping centre in Ankara, Turkey, for around $44 mln (EUR 32 mln). The shopping centre is currently under development and completion is expected in the first half of 2008. Corio said the mall will generate a net yield ...
-
PropertyEU Archive
AFI acquires downtown Moscow project
London-listed property developer AFI Development has agreed to acquire 24,126 m[sup]2[/sup] of built-up land on the Yauza River in the centre of Moscow for $104 mln (EUR 76 mln). The company said it has also agreed to acquire the development rights for an adjoining 2.67-hectare plot for the development of ...
-
PropertyEU Archive
ECB to launch call for Eurotower tenders
The European Central Bank will launch an international call for tenders next August for the development of the real estate complex that will host its head office. The new Eurotower, to be located in the western district of Frankfurt, will house the ECB headquarters from 2012, Italian news agency Ansa ...
-
PropertyEU Archive
Berlin market growth seen levelling off
The real estate market in Berlin is expected to grow further, but at a slower pace than in the past two years, property consultant Winters & Hirsch said on Wednesday. Total turnover is seen rising to over EUR 17 bn in 2007, compared with some EUR 15 bn in ...
-
PropertyEU Archive
Affine launches new commercial unit
French real estate company Affine said it is launching a new investment unit, Capucine Investissements, aimed at city-centre shopping malls throughout the country. Headed by Nino Amor, the new subsidiary will be listed as a SIIC, the French equivalent of a real estate investment trust. The company said that the ...
-
PropertyEU Archive
Unibail holds 95.74% of Rodamco shares, confirms delisting
The Unibail-Rodamco combine said on Wedensday that it now holds 95.74% of Rodamco's shares after the close of the acceptance period for the public offer on Tuesday. In a joint statement, the two companies said an additional 14,443,054 shares had been tendered, representing a 16.11% stake in Rodamco, and taking ...
-
PropertyEU Archive
Delek sells City Plaza office block to CBRE Investors
AIM-listed Delek Global Real Estate has sold its stake in the City Plaza office block in Sheffield, South Yorkshire, England, to CBRE Investors for about £24 mln (EUR 35 mln). Delek Global said it will receive about £3 mln and an additional £1 mln gain creditable against future profits from ...
