Latest reports – Page 3681
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PropertyEU Archive
Wichford spends EUR 150m on German offices
UK-listed real estate company Wichford is acquiring a 95% stake in a portfolio of office properties across Berlin, Stuttgart, Cologne and Dresden for EUR 150 mln. The transaction value reflects a yield of just over 5%.
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PropertyEU Archive
Quinlan, Propinvest buy Citigroup's London HQ for £1 bn
Quinlan Private's founder Derek Quinlan and investment company Propinvest are acquiring the European headquarters of Citigroup bank in London for £1 bn (about EUR 1.4 bn). The sale of the 42-storey office skyscraper at Canary Wharf is the second-largest single-property transaction ever seen in the UK. Just three months ago, ...
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PropertyEU Archive
Fitch to get EUR 431m Canary Wharf HQ
International rating agency Fitch is to consolidate its London staff in a new headquarters at Canary Wharf. Fimalac, the French company that owns 80% of Fitch, signed an agreement with the Canary Wharf Group for the EUR 431 mln development on Friday.
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PropertyEU Archive
Liberty International buys into Earls Court and Olympia
Capital & Counties, a wholly owned subsidiary of Liberty International, has agreed to take a 50% stake in EC&O Venues (Earls Court and Olympia Group). The new joint venture will own and manage London's Earls Court and Olympia Exhibition Centres and the Brewery, and the deal values the company at ...
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PropertyEU Archive
IVG to develop additional oil and gas facilities
German real estate investment company IVG Immobilien has secured the rights to develop a further 25 underground oil and gas storage facilities at its site in Etzel near Wilhelmshaven in Northern Germany. IVG currently operates 40 such facilities at the site, which are let to both oil and gas businesses ...
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PropertyEU Archive
MWB appoints Bank of America to resurrect hotel sale
London-based property investment company Marylebone Warwick Balfour (MWB) has appointed Bank of America to sell its Malmaison and Hotel du Vin portfolios following the failure of Vector Hospitality to list on the stock exchange and to acquire the UK hotel assets for £495 mln (EUR 735 mln).
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PropertyEU Archive
Dynamique Hotels buys 10 hotels from Promogest
Dynamique Hotels, an investment company founded by CBRE Investors, has acquired 10 Akena hotels from Promogest for an undisclosed amount, French newspaper Business Immo reported. The company, which currently owns a total of 57 hotels, added that it is currently considering acquisitions of other 60 hotel sites, which should allow ...
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PropertyEU Archive
Australia's Multiplex raises EUR 116m for first European fund
The property funds management division of Australia's Multiplex Group said that it had raised A$ 184.45 mln (EUR 116 mln) for its first European real estate fund. The fund's assets are currently all in Germany, although Multiplex Capital had said previously that it would also look for investment opportunities ...
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PropertyEU Archive
Metrovacesa's Rivero to leave the company in October
Metrovacesa's chairman Joaquin Rivero said he will leave his post in October, just before the separation process of the Spanish company is completed. The plan to split up Metrovacesa's assets into two separate units, generated by a wish to appease the company's rival core shareholders Rivero and the Sanahuja family, ...
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PropertyEU Archive
Pirelli RE, Deutsche Bank venture buys in Italy for EUR 305m
Pirelli Real Estate said its joint venture with Deutsche Bank-managed RREEF Global Opportunities Fund II is buying a mixed-use portfolio of 29 properties from Italy's pension fund Enpam. The total acquisition value comes to EUR 305 mln. Closing of the transaction is expected to take place this autumn with the ...
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PropertyEU Archive
Bowleven moves to new Edinburgh HQ
Oil company Bowleven has signed a 10-year lease on a new head office on North St Andrew Lane in Edinburgh. The firm has agreed a rent of £ 26 (EUR 39) per square foot for the 6,711 square-foot (673 m2) office space.
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PropertyEU Archive
Allreal shops in Zurich
German real estate company Allreal is acquiring the Toni-Areal property in the fifth district of Zurich from lender Zürcher Kantonalbank (ZKB) for an undisclosed amount.
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PropertyEU Archive
Italian real estate funds see assets rising to EUR 30 bn in 2007
Italy saw the number of real estate funds increase by 167% in 2006 from 58 to 155, and this figure is seen coming close to the 200 threshold by the end of 2007, according to Mario Breglia, chairman of Italy's independent institute for analysis and research Scenari Immobiliari. Listed retail ...
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PropertyEU Archive
Cepif stays on the ball for Euro 2012
The 2008 edition of the Cepif property and investment fair for the Central and Eastern European region will feature special events to increase its appeal for both residential and commercial developers, and for everyone with an interest in the Euro 2012 football finals, the organisers of Cepif say.
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PropertyEU Archive
The winners of the Bex 2007 awards are
The Bex awards at the Building Exchange Summit in Spain reflected some of the key issues facing the real estate sector today - sustainability, innovation and collaboration. Over 3,600 professionals from the real estate sector globally attended the award ceremony at the Hilton Hotel in Valencia.
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PropertyEU Archive
UPM-Kymmene to build new Helsinki head office
Finnish paper giant UPM-Kymmene is looking for a 3,800 m[sup]2[/sup] plot in central Helsinki for the construction of a new head office, according to Finnish news agency STT. Citing a planning application with the Helsinki city council, STT said UPM is looking to begin construction in 2009, with completion expected ...
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PropertyEU Archive
Banimmo sells 40% of Brouckère Tower
Belgian real estate company Banimmo said it is selling the remaining 40% interest in the Brouckère Tower building to Morgan Stanley Eurozone Office Fund (MSEOF) for an undisclosed amount. MSEOF bought the first 60% share in the building at the end of 2006, when it also agreed on an option ...
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PropertyEU Archive
Investment in Dutch warehousing up 43% in 2006
Investment in Dutch warehousing properties rose 43% to EUR 948 mln in 2006, a study by property adviser Jones Lang La Salle shows. The 2006 investment volume figure was significantly higher than the EUR 632 mln annual average shown in the 2001-2005 period. The record investment volume was ...
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PropertyEU Archive
GTC says Zagreb shopping centre fully let
Polish property developer GTC's Croatian arm said its Avenue Mall shopping centre in Zagreb is now fully leased and will generate EUR 10 mln in annual rental income. The shopping centre is due to open in August of this year. The company said the majority of leases have been signed ...
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PropertyEU Archive
Pirelli, Intesa Sanpaolo form facilities joint venture
Italian property firm Pirelli Real Estate said it has formed a joint venture with Italian bank Intesa Sanpaolo to incorporate its European facilities and project management services. Pirelli will hold a controlling stake in the joint venture. Following the partnership agreement, Intesa Sanpaolo has bought from Pirelli RE 49% of ...
