Latest reports – Page 3678
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PropertyEU Archive
Segro acquires UK industrial property
Segro, formerly known as Slough Estate, said it has agreed with Legal & General Property on the acquisition of the Airlinks Trading Estate, an industrial property near Heathrow airport, for £31 mln (EUR 45 mln). The company added that it is selling to L&G a portfolio of six assets, across ...
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PropertyEU Archive
Europe's direct real estate investment hits record EUR 116 bn in H1 2007
Direct real estate investment transactions across Europe reached a record EUR 116 bn in the first half of 2007, a 4% rise year-on-year, according to provisional figures from Jones Lang LaSalle. The flow of capital into real estate continues unabated with strong levels of foreign capital across the region. 'As ...
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PropertyEU Archive
GE Real Estate buys up Stockholm properties
Property firm GE Real Estate said it has agreed to buy two properties on the outskirts of Stockholm from Swedish pension fund AMF for an undisclosed sum. The two buildings are mainly office space and have a total lettable area of 30,000 m[sup]2[/sup]. They are currently 78% let, and so ...
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PropertyEU Archive
UK H1 property investment over £ 27bn, H2 slowdown predicted
Investments in UK property in the first half of 2007 exceeded £ 27 bn (EUR 40 bn), in line with investment in the year-earlier period, according to figures from Jones Lang LaSalle. JLL’s head of capital markets Julian Stocks said he expects to see a slowdown in investment in the ...
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PropertyEU Archive
Italian REITs receive market watchdog's approval
Italy's securities market regulator Consob has approved the changes to the Italian stock market that will allow real estate investment companies to be traded in the country from 23 July. Real estate investment trusts, called SIIQs in Italy, will be traded on the Expandi market under the new category Real ...
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PropertyEU Archive
Bank of England raises benchmark interest rates
The Bank of England on Thursday raised its benchmark interest rates for the fifth time in a year from 5.5% to 5.75%. Global real estate adviser Jong Lang LaSalle said that the move was expected, with strong employment growth and unemployment falling, a 3% GDP growth in Q1 and inflation ...
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PropertyEU Archive
Sochi wins 'Olympic gold'
The Russian Black Sea resort of Sochi is celebrating after being selected to host the 2014 Winter Olympics. The vote by the Olympic Committee went to the 2nd round on Wednesday in Guatemala City. Sochi eventually won out after Salzburg was eliminated in the first round, followed by the South ...
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PropertyEU Archive
Credit Suisse shops in The Netherlands for EUR 125m
Frankfurt-based Credit Suisse, on behalf of its real estate fund CS Property Dynamic, has acquired a mixed office/warehouse portfolio in the Netherlands from Dutch developer Kroon Group, for a total investment of EUR 125 mln.
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PropertyEU Archive
Leasinvest withdraws offer for Immo Croissance
Listed Belgian real estate fund Leasinvest said it is withdrawing its offer for Luxembourg investment company Immo Croissance, following the counter-bid launched on 26 June by Icelandic group Baugur at EUR 329.15 per distribution share and EUR 926.16 per capitalisation share. Baugur's bid is almost 11% higher than the offer ...
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PropertyEU Archive
IVG Immobilien sells Caxton Hall for £73m
IVG Immobilien has completed the sale of the Caxton Hall office building located in central London to Scottish Widows Investment Partnership (SWIP) on behalf of the SWIP Property Trust, for £ 73 mln (about EUR 109 mln). After acquiring Caxton Hall in 2004, IVG Immobilien completed the renovation of the ...
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PropertyEU Archive
Dawnay Day Sirius buys two German business parks for EUR 26m
Dawnay Day Sirius, the real estate company established by Dawnay Day and Sirius Facilities to acquire large mixed-use commercial real estate in Germany for upgrading to flexible workspaces, announced this week that it has agreed to acquire two freehold business parks for a combined total of EUR 26.15 mln.
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PropertyEU Archive
Colonia increases stake in two German residential property companies
Listed German investment company Colonia Real Estate said this week that it has increased its stake in two residential property companies from 51% to 99.24% by prematurely exercising its call option on BGP Investment's holding in the companies. Together the companies hold 9,857 residential units in Aachen, Freiburg, Hamburg, Kiel, ...
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PropertyEU Archive
Breevast in the running for Inbev pubs
Dutch property company Breevast is in the running to buy the 1000-plus pubs being spun off by Belgian brewer InBev in the Netherlands and Belgium, according to unconfirmed reports in Dutch and Belgian newspapers. Other candidates reportedly include Belgium´s Cofinimmo and two UK-based real estate funds.
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PropertyEU Archive
P&O Estates and Morgan Stanley plan three new skyscrapers for central London
Plans have been announced for a £1 bn (EUR 1.48 bn) scheme featuring three skyscrapers for a site next to Waterloo station in London. P&O Estates and Morgan Stanley, the owners, have submitted an application for two office buildings with retail space at their lower levels and one residential block, ...
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PropertyEU Archive
Puma Brandenburg shops in Germany for EUR 116m
AIM-listed Puma Brandenburg said it has bought a mixed portfolio of four assets in Germany for a total of EUR 116 mln. The transaction, reflecting a yield of 6.75%, brings Puma's real estate investments in the country to EUR 600 mln. The company, which invests solely in German residential and ...
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PropertyEU Archive
Fonciere des Regions snaps up Tour Gan for EUR 486m
French property group Fonciere des Regions said it has acquired the Gan office tower at Paris' business district La Defense for EUR 486 mln. La Tour Gan is being sold by insurance company Groupama. Built in 1974, the skyscraper is 187 meters high and provides some 64,500 m[sup]2[/sup] of gross ...
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PropertyEU Archive
Plaza Centers to build Romanian mall
Property developer Plaza Centers has acquired a major retail development in the town of Miercurea Ciuc, in Central Romania. Although the acquisition price was not disclosed, Plaza Centers said that the expected investment in the project is EUR 16 mln. The company is planning to develop a 16,000 m[sup]2[/sup] shopping ...
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PropertyEU Archive
Blackstone poised to buy Hilton for $26bn
Hilton Hotels, one of the biggest hotel chains in the world, has agreed to be taken private by US private equity firm Blackstone in an all-cash deal valued at $26 bn (EUR 19 bn). Blackstone is offering $47.50 per share for the hotel chain, which has more than 2,800 hotel ...
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PropertyEU Archive
Deutsche Wohnen merges with GEHAG Group
German residential property company Deutsche Wohnen reached agreement this week on its merger with Berlin-based Gehag Group. The merger will involve In Deutsche Wohnen taking over an 85% interest in Gehag from two Luxembourg investment companies backed by US private equity company Oaktree Capital Management. Deutsche Wohnen have also announced ...
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PropertyEU Archive
Realia sells 5% of SIIC for EUR 34m
Spain's real estate company Realia, a joint venture between Fomento de Construcciones y Contratas (FCC) and Caja Madrid, is selling 5% of its French unit Sociedad SIIC to Spanish investment company Marlolan for about EUR 34 mln. The stake is being sold at EUR 345.7 per share, which compares to ...
