Latest reports – Page 3679
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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 ...
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News
IPE-QUEST: $100m REIT mandate
NETHERLANDS – A Dutch institutional investor is looking for a real estate manager via IPE-Quest. The mandate is for an active $100m (€73.8m) US and Canada real estate mandate benchmarked against the FTSE EPRA NAREIT North America TR In...
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PropertyEU Archive
Axa Reim sells the Axa Tower in la Defense
Axa Reim France, on behalf of the Vendome Croidor fund, is selling the Axa Tower in La Defense business district of Paris to Beacon Capital Partners for an undisclosed amount. Axa Reim said it is joining forces with Beacon for the redevelopment of the building, after which the tower will ...
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PropertyEU Archive
Casino, Whitehall venture set to build malls in Poland
French retail company Casino is teaming up with the Whitehall funds, managed by Goldman Sachs, to develop shopping centres in Poland. Casino added that the new venture 'might be extended to other Eastern Europe' countries. Under the agreement, the Whitehall funds will finance 75% of the development costs of the ...
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PropertyEU Archive
GE and Quinlan acquire Bulgarian mall
GE Real Estate Central and Eastern Europe has teamed up with a group of investors led and advised by Quinlan Private to purchase the Mall of Plovdiv shopping centre in Bulgaria from developers Ocif and CCI.
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PropertyEU Archive
FSA to facilitates rules for REITS
The UK's Financial Services Authority (FSA) has announced plans which will UK and foreign property investment firms greater flexibility. In September, the FSA will introduce a single listing regime for investment firms as well as back rules allowing more flexibility in investment strategies. Last April, the FSA announced it planned ...
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PropertyEU Archive
Lend Lease, Grosvenor in exclusive talks on UK retail project
Lend Lease confirmed in a statement on Tuesday that it is 'in exclusive negotiations' with Grosvenor to enter into a joint venture for the development of the Tithebarn regeneration scheme in Preston, UK. The project is a 1.6 million square feet (150,000 m2) mixed-use scheme to be developed in partnership ...
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PropertyEU Archive
Delek Global buy four European portfolios for EUR 202m
AIM-listed Delek Global Real Estate (DGRE), part of the Israeli Delek Group, reported this week that they have acquired four major property portfolios in Europe for £ 137 mln (about EUR 202 mln). DGRE has financed most of these acquisitions with fixed-rate long-term debt of around EUR 172 mln, together ...
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PropertyEU Archive
RGI to develop 1.7 million m[sup]2[/sup] of real estate in Moscow
RGI, the AIM-listed developer of luxury real estate in Moscow, said on Monday it is investing some $190 mln to acquire a controlling stake in four new development projects in Moscow. The investment is being made through the purchase of a 73% stake in the privately-owned Cypriot holding company Sucreti, ...
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PropertyEU Archive
Gecina purchases French logistics warehouse
French property company Gecina has acquired a 24,000 m[sup]2[/sup] logistics warehouse in Chilly&Mazarin, in southern Paris, from an unnamed vendor. The financial details of this transaction have not been disclosed. Gecina said this logistics platform, built in 2003 on a highly attractive sector for distribution functions, is fully leased to ...
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PropertyEU Archive
Fourteen $1 bn single asset deals and counting
Real estate investors have acquired 14 single real estate assets worldwide for over $ 1 bn each so far this year - the same number as for all of 2006, and almost five times the level of 2005, according Jones Lang LaSalle's International Capital Group. Earlier this week, Quinlan Private's ...
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PropertyEU Archive
ING RE acquires prime Munich office
ING Real Estate said it has acquired the Altezza office development project from Germany's Hochtief for an undisclosed amount. The building, located in the Westend district of Munich, will be the fourth German property added to the ING European Office Fund, the company said in a statement. The Altezza project ...
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PropertyEU Archive
Kenmore signals Belgian acquisition drive
On the heels of the opening of its first German office earlier this year, the UK-based Kenmore Property Group has announced it is to embark on an acquisitions drive in Belgium following the opening of a new office in Antwerp and the appointment of Alexandre Van Haver as investment director. ...
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PropertyEU Archive
Greene King looks for partner to split off its real estate
UK pub owner Greene King is planning to launch a property company this year in a move aimed at 'unlocking substantial extra value from its quality property estate'. The pub group added the new real estate company, which will own 35%, or some 872 of its pubs, is currently looking ...
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PropertyEU Archive
Union Investment snaps up UN Studio in Amsterdam
Union Investment is acquiring the UN Studio office development in Amsterdam's business district Zuidas from a consortium of ING, Fortis and G&S. Although the financial details of this transaction have not been disclosed, market sources suggest a purchase price of around EUR 120 mln. This office tower, due for delivery ...
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PropertyEU Archive
Multi Development starts 52,000 m[sup]2[/sup] mall in Dresden
Construction started on Tuesday on the Centrum-Galerie mall, a 52,000 m[sup]2[/sup] project being developed by Multi Development's German unit in Dresden. Centrum-Galeire will be the largest shopping centre in the east German city when it opens its doors in September 2009. The Dutch developer said the anchor tenant for the ...
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PropertyEU Archive
Segro in biggest sale-and-leaseback in Continental Europe
UK real estate investment trust Segro (formerly known as Slough Estates) has announced the sale and leaseback from mail order and online retailer Neckermann of a major office and distribution centre in Frankfurt for EUR 197 mln, including all acquisition costs. Neckermann is a member of the Arcandor group, which ...
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PropertyEU Archive
Sjælsø sells office and residential projects for EUR 84m
Danish real estate company Sjaelso Gruppen is selling office and residential projects with a combined value of approximately EUR 84 mln.
