Latest reports – Page 3682
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PropertyEU Archive
UK commercial property auctions fall by 26% in Q1
The number of UK commercial properties sold at auction in the first quarter of 2007 was down 26% on sales in the fourth quarter of 2006. According to figures from the UK's Royal Institute of Chartered Surveyors (RICS), demand for commercial properties has dampened due to a sharp rise in ...
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PropertyEU Archive
Colliers provides first tenant to IO-1 Warsaw office
Real estate consultant Colliers International has represented Arcadis Polska in the lease negotiations for 2,800 m[sup]2[/sup] of office space in the IO-1 building in Warsaw. Arcadis said that the move follows its decision to consolidate all Warsaw operations at one location. The company, which is the IO-1 building's first tenant, ...
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PropertyEU Archive
IVG says storage facilities will triple profits in 5 years
German property firm IVG said its underground oil and gas storage facilities unit will triple its share of the company's net profit to roughly a third of group profit within the next five years. Speaking at the Reuters Real Estate summit, ceo Wolfhard Leichnitz said the unit currently accounts for ...
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PropertyEU Archive
London to sell £2 bn of land to repay Olympic games costs
London's mayor Ken Livingstone and culture secretary Tessa Jowell have agreed to sell up to £2 bn (almost EUR 3 bn) of land around the Olympic Park in east London after the 2012 Olympic games in a move aimed at repaying the increasing costs of the event, newspaper Financial Times ...
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PropertyEU Archive
Astroc eyes 5-6 smaller firms
Spanish property firm Astroc Mediteranneo said it could acquire five or six smaller firms to simplify its company structure. Speculation about Astroc's financial position earlier this year led to a 70% drop in the company's share price and triggered a massive sell-off of Spanish property shares on fears the Spanish ...
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PropertyEU Archive
Skanska sells Malmo office project, signs EUR 750 mln credit facility
Swedish construction company Skanska said it had sold an ongoing office project in Malmo, Sweden, to the country's largest insurance company Vital Forsikring for an undisclosed sum. The 10,000 m[sup]2[/sup] court of Appeals building is currently under construction and is due for completion in the third quarter of 2008. Skanska ...
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PropertyEU Archive
KanAm shops in Luxembourg with EUR 131m deal
The KanAm grundinvest funds have bought the Atrium Business Park office project in Bertrange, south-western Luxembourg. The development comprises the Emporium building providing some 24,000 m[sup]2[/sup] of office space, and will be extended to include three additional buildings by the end of 2011. The complex will then provide almost 30,000 ...
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PropertyEU Archive
Hammerson sees little sense in UK REITs consolidation
Property firm Hammerson said it sees little sense in consolidation among the UK's real estate investment trusts (REITs). Speaking at the Reuters Real Estate summit in London, ceo John Richards countered widespread speculation on the consolidation among European property companies as share prices continue to fall.
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PropertyEU Archive
Fonciere Inea buys in Saint-Etienne at 7.5%
Fonciere Inea has purchased an office development in Saint-Etienne, central-eastern France, for EUR 26 mln. The project will include some 13,654 m[sup]2[/sup] of offices and 260 parking spaces. The transaction value reflects a net yield of 7.5%.
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PropertyEU Archive
Edinburgh prime office rents set to reach record high in 2008
Property consultancy Jones Lang LaSalle said prime office rents in Edinburgh are set to rise by as much as 7% and reach the record level of £ 31 (EUR 46) per square foot next year, as the supply of grade A office space dries up in the Scottish capital.
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PropertyEU Archive
Cofinimmo may withdraw Immo Croissance bid
Belgian property firm Cofinimmo said it is considering withdrawing its takeover bid for peer Immo Croissance, which owns office properties in Belgium, Germany and Luxembourg. 'We are considering a withdrawal. To say that we will withdraw from the bid is too strong at this point, but we have not decided ...
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PropertyEU Archive
SFL, Nexity to develop EUR 300m project in Paris
Societe Fonciere Lyonnaise (SFL) and Nexity have won the competition organised by the SEMAPA (Société d'économie mixte d’aménagement de Paris) for the construction of the T8 complex located opposite the François Mitterrand National Library. The investment for the complex is estimated at EUR 300 mln, the company said in a ...
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PropertyEU Archive
Boultbee purchases first hotel in Estonia
Private property investment company Boultbee has acquired the modern SAS Radisson Hotel in Tallinn city centre for an undisclosed sum. The SAS Radisson offers accommodation and conference facilities located just a ten-minute drive away from Tallinn Airport and the City Harbour. The complex includes 280 rooms and has the capacity ...
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PropertyEU Archive
Pirelli RE, Goldman Sachs reach deal on Tecla, Berenice
Gamma RE, the joint venture between Pirelli RE and Morgan Stanley, has reached a deal with Goldman Sachs' Whitehall funds to end a bidding war between the companies to take control of two Italian listed office funds, according to sources close to the situation. Under the unofficial agreement, Gamma will ...
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PropertyEU Archive
Parquesol poised to merge with San Jose
Spanish listed property company Parquesol is planning to merge with construction company San Jose Group, chairman Jacinto Rey announced this week. The merger, which still needs to be approved by shareholders, would create a conglomerate with net sales of around EUR 1.6 bn.
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PropertyEU Archive
Kungsleden acquires property in Landskrona
Listed Swedish property company Kungsleden has acquired the Bromsregulatorn 1 property in Landskrona, southernmost Sweden. The seller of the property is Swedish private real estate company Fastighets LE Lundberg. The purchase price amounts to SEK 199 mln (EUR 21 mln), reflecting an initial yield of 7.6%. The property has a ...
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PropertyEU Archive
Hammerson, Axa sell Paris office building for EUR 335m
Hammerson and Axa REIM France are selling their shares in the joint venture company that developed and owns a 22,000 m[sup]2[/sup] office building at 9 Place Vendôme, Paris for EUR 335 mln. The buyer, SAS Sloane place Vendôme, has signed a conditional agreement with the joint venture partners and paid ...
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PropertyEU Archive
Dexia, GIMV unveil Benelux infrastructure fund
Dexia Bank Belgium and Antwerp-based investment company GIMV have said they are in the process of launching a new non-listed fund to invest in infrastructure and real estate construction projects, mainly in the Benelux region (Belgium, the Netherlands and Luxembourg). The two partners are each contributing 20% of the financing ...
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PropertyEU Archive
Shareholders approve Macquarie Goodman name change
Shareholders of Australian industrial real estate investor Macquarie Goodman have approved a proposal to drop Macquarie from the company name. In future the concern, which is listed on the Australian stock exchange, will be known simply as Goodman, the company announced Wednesday.
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PropertyEU Archive
Regulator shoots down Sacyr's all-share offer for Eiffage
Sacyr Vallehermoso faces the prospect of having to make a higher, cash bid for its French peer Eiffage after French bourse regulator AMF ruled that an earlier hostile all-share offer did not comply with French law. Siding with suggestions by Eiffage that the Spanish construction company - which owns a ...
