Latest reports – Page 3683
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PropertyEU Archive
Colonial's EUR 2 bn bid for Riofisa gets green light
Spain's bourse regulator CNMV has approved the EUR 2 bn takeover bid launched by Colonial for shopping centre specialist Riofisa. The offer values Riofisa at EUR 44.31 per share, which compares to the price of EUR 43.85 at which Riofisa shares were trading at 2 pm on Wednesday. Colonial´s offer ...
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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
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 ...
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PropertyEU Archive
King Sturge helps fuel Shell's growth in Poland
Energy giant Shell has retained property consultant King Sturge to acquire sites for petrol filling stations in Poland. As part of its expansion policy, Shell is targeting the country's main cities as well major intercity routes, but also looking to position petrol filling stations next to major shopping centres. The ...
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PropertyEU Archive
Highest skyscraper in the Netherlands gets go ahead
A Dutch court has rejected the objections raised by the association Kop van Zuid/Noordereiland to the development of the Maas tower in Rotterdam. The court ruled in favour of development company OVG, which was granted building permits by the municipality of Rotterdam for the construction of the skyscraper. At 165 ...
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PropertyEU Archive
WDP buys EUR 100m Belgian-Dutch portfolio
Warehouses De Pauw (WDP), the Belgian closed-ended logistics real-estate investment company, has agreed in principle to acquire a property portfolio from Belgian fruit and vegetable group Univeg.
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PropertyEU Archive
Cerberus may sell EUR 1 bn German real estate
US private equity group Cerberus is planning to sell off its residential portfolio in Germany, newspaper Financial Times Deutschland reported, citing a person familiar with the situation. The portfolio, bought for EUR 1 bn in 2005, revolves around some 20,000 flats formerly owned by trade unions. Cerberus, which would be ...
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PropertyEU Archive
GE and Helios Phoenix in EUR 175m Romanian shed jv
GE Real Estate Central and Eastern Europe has entered Romania for the first time with the establishment of a joint venture with Helios Phoenix to undertake EUR 175 mln of distribution warehouse development throughout the country. The first project involves the development of seven class A logistics and distribution properties, ...
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PropertyEU Archive
Fonciere des Murs launches EUR 200m capital hike
Fonciere des Murs, a subsidiary of Fonciere des Regions group, announced on Tuesday that it is to carry out a capital increase of about EUR 200 mln through the free attribution of warrants to its shareholders. The proceeds will be used to fund acquisitions made in 2007 for a value ...
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PropertyEU Archive
NB Real Estate stays at helm of Axa's EUR 6 bn portfolio
Axa REIM has reappointed NB Real Estate (formerly Nelson Bakewell) to manage its property portfolio worth £4.2 bn (EUR 6.2 bn) in the UK. In a statement, Axa REIm said the portfolio consists of 2,400 tenants in properties with an annual rent roll in excess of EUR 297 mln. When ...
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PropertyEU Archive
Whitehall offer for Berenice includes put option in favour of UGI
Whitehall funds' offer for Berenice closed-end office fund comprises a put option on 30% of the fund in favour of Italy's Unione Generale Immobiliare (UGI), a company indirectly owned by Italian entrepreneur Francesco Gaetano Caltagirone. On the other hand, UGI has a call option on the same stake, Italy's Consob, ...
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PropertyEU Archive
Beni Stabili sells commercial portfolio in Northern Italy
Italy's Beni Stabili Gestioni announced on Tuesday that it has completed the sale of a commercial real estate portfolio leased by supermarket chain Unes. The buyer of the portfolio, which was owned through the Invest Real Security fund, was not disclosed. The transaction involves six buildings for commercial use, with ...
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PropertyEU Archive
Banimmo raises EUR 55m in IPO early closing
Belgian property redevelopment company Banimmo has raised its EUR 55 mln target, excluding the over-allotment option, in an early closing of its Initial Publuic Offering (IPO). The capital increase involves the issuance of 2.6 million new category A shares with tax-friendly VVPR strips, valued at EUR 21 per share. On ...
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PropertyEU Archive
CBRE: Europe sale-and-leaseback deals to reach EUR 30 bn
European commercial property sale-and-leaseback deals are set to reach an annual total volume of about EUR 30 bn ($40.4 bn) as firms seek to unlock the value of real estate on their balance sheets, John Wilson, a senior director at property adviser CB Richard Ellis, told the Reuters Real Estate ...
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PropertyEU Archive
German property adviser picks up partner in Israel
NAI Apollo, the German commercial property advisor, has expanded its global network of consultants of 350 independent offices with a new network partner, NAI Yair Levy Strategy, in Tel Aviv, Israel. The company is managed by Yair Levy. NAI Apollo noted that a total of $14.2 bn of direct foreign ...
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PropertyEU Archive
Protego launches EUR 1.65 bn Nordic retail fund
Protego RE Investors has launched the Nordic Retail Fund after having raised EUR 517 mln of equity at first closing from sixteen institutional investors across Europe. Protego and retail asset manager EFM have also co-invested. The property fund manager said it commenced formal marketing of the fund in March 2007, ...
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PropertyEU Archive
Patrizia KAG unveils first of 10 new funds
Patrizia Immobilien Kapitalanlagegesellschaft (KAG), the capital investment unit established recently by German real estate company Patrizia Immobilien, on Tuesday played down concerns about the German residential market shortly after it announced its first residential fund - the first of 10 new funds it plans to establish in the next few ...
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PropertyEU Archive
AM strengthens position in Dutch commercial real estate
Developer AM Vastgoed has completed the takeover of Dutch peer IPMMC, a specialist in development, consultancy and management of complex projects. Utrecht-based IPMMC Vastgoed has a development portfolio of 550,000 m[sup]2[/sup] of commercial property space. AM has a 640,000 m[sup]2[/sup] development portfolio covering urban renewal, office and retail centre projects. ...
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PropertyEU Archive
DTZ set for £60m Donaldsons deal
DTZ will buy retail property consultant Donaldsons next week for £60m (EUR 90 mln), according to an article published on Tuesday in Property Week's website. The deal will allow DTZ to become one of the three largest real estate agencies in the UK. Donaldsons, whose main focus is on the ...
