Latest reports – Page 3687
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PropertyEU Archive
ING RE announces first closing of its Italian Retail Fund
ING Real Estate has announced the first closing of its ING Real Estate Italian Retail Fund. The fund, an unlisted semi-open ended investment vehicle, has a target size of EUR 1 bn. At first closing the fund has already had commitments for nearly one-third of the target capital, and the ...
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PropertyEU Archive
Halverton acquires first asset in Finland
Halverton Real Estate Investment Management has entered the Finnish market witht he acquisition of a 3,482 m[sup]2[/sup] renovated office in the port town of Turku for EUR 4.7 mln. This reflects a net initial yield of 9.03%.
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PropertyEU Archive
Construction starts for Prague's Arkady Pankrac mall
Construction started on Wednesday for the new Arkády Pankrác shopping centre being developed in Prague by project partners Rodamco Europe and ECE Projektmanagement. With around 45,000 m[sup]2[/sup] of floor space, the retail complex will house some 140 retail outlets. The development, located in Prague's largest district Pankrác, is expected to ...
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PropertyEU Archive
Dolce & Gabbana to open two stores at Milano Santa Giulia
Italy's developer Risanamento and Dolce & Gabbana announced they have finalised an agreement for the opening of two boutique stores for Dolce & Gabbana at the Milano Santa Giulia luxury mixed-use development in Milan. The two stores will be located on the commercial Promenade, looking onto the Luxury Square, which ...
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PropertyEU Archive
IVG to launch EUR 2 bn G-REIT in 2008
German listed property company IVG Immobilien is planning to launch a real estate investment trust (REIT) with about EUR 2 bn in commercial real estate next year. Bernd Kottmann, chief financial officer at IVG, said the company would wait until 2008 to launch its own G-REIT. In this way IVG ...
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PropertyEU Archive
Hines set for Spanish spending spree
US real estate company Hines is planning to invest up to EUR 500 mln on the development of several projects across Spain, newspaper Cinco Dias reported, citing chairman John Gomez Hall. Hines, which entered Spain in 1996, is currently active in the development of three offices in Madrid's Las Rozas ...
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PropertyEU Archive
Miller, Bridgehouse set to build Birmingham's tallest tower
Builder Miller Developments and private equity firm Bridgehouse Capital are planning to develop a 50-storey skyscraper that at its 150 metres would be the tallest scheme in the city of Birmingham. Designed by architect Eric Kunhe, the mixed-use tower will feature a V-shaped roof and will cost about £ 150 ...
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PropertyEU Archive
DVD maker leases UK shed space from Prologis
Cinram International, a major manufacturer of DVDs and CDs, has agreed to lease a newly developed warehouse in Prologis Park Dunstable in Bedfordshire, 56 kilometres from London.
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PropertyEU Archive
BBVA set to plough EUR 700m in new Madrid HQ
Spain's Banco Bilbao Vizcaya Argentaria (BBVA) has acquired a site from property company GMP for the development of a new headquarters on the northern outskirts of Madrid. The lender said that the head office will be located in the Empresarial Foresta business park and will involve a total investment, including ...
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PropertyEU Archive
MWB presses on with hotel sale after IPO debacle
London-based property company Marylebone Warwick Balfour Group (MWB) issued a statement on Wednesday in response to strong criticism from a key shareholder over a delay in the sale of a hotel portfolio for £495 mln (EUR 735 mln) to Vector Hospitality.
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PropertyEU Archive
McArthurGlen builds designer outlet near Munich
UK developer McArthurGlen is to build a factory outlet centre in Salzburg, Austria, an hour's drive from the German city of Munich. Together with the Vienna Insurance Group, McArthurGlen will convert a two-storey warehouse to accommodate the new complex, which will have a lettable area of 28,000 m[sup]2[/sup] providing room ...
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PropertyEU Archive
Beni Stabili completes acquisition of FIP for EUR 181m
Italian property company Beni Stabili has completed the acquisition of the Fondo Immobili Pubblici No. 1 portfolio for a total of EUR 181 mln. The company first announced the deal at the beginning of May. The portfolio, which was put on the market last March, received about 40 bids from ...
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PropertyEU Archive
GIC buys Merrill Lynch's London HQ for EUR 710m
Financial services group Merrill Lynch has sold its European headquarters in the City of London to GIC, the investment arm of the government of Singapore, for £480 mln (EUR 710 mln). Merrill Lynch said it will rent back the property on a 15-year lease. The financial terms of the lease ...
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News
IVG to launch €2bn German REIT in 2008
GERMANY – IVG Immobilien, Germany’s biggest quoted real estate firm, has announced it will next year launch a German real estate investment trust (G-REIT) with around €2bn in commercial property assets. The German government lega...
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PropertyEU Archive
Docks Lyonnais shops near Paris for EUR 115m
French SIIC Docks Lyonnais has acquired the Colisée Portefeuille real estate company from Axa for EUR 115 mln. The company owns the Fontenay Carnot office development located in Fontenay-sous-Bois, on the outskirts of Paris. Developed by Meunier, the Fontenay Carnot will provide some 27,200 m[sup]2[/sup] of lettable area. The building, ...
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PropertyEU Archive
CGG reports record transaction volume of EUR 3.5 bn
Commerz Grundbesitz Group (CGG) has reported the highest transaction volume in the company's history, with a total of EUR 3.5 bn in real estate acquisitions and disposals in the 12 months to end-May.
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PropertyEU Archive
Macquarie sells Rome airport stake for EUR 1.2 bn
Macquarie Airports, part of Australia's Macquarie conglomerate, has agreed to sell its holding in Aeroporti di Roma (AdR) to Italy's Gemina for EUR 1.24 bn. Through the deal Gemina is acquiring a 45% stake in Rome's main airport operator, which runs Fiumicino-Leonardo da Vinci and Ciampino airports. The Italian holding ...
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PropertyEU Archive
ICSC launches National Committees across Europe
The International Council of Shopping Centers (ICSC) is launching a series of National Committees across Europe to maximise opportunities for its members within the European countries. The first Committee will be launched in Romania on 3 July, at the Howard Johnson Grand Plaza Hotel in Bucharest while the Baltic ...
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PropertyEU Archive
English Heritage unveils new plan to protect Westminster
A new plan to protect London's Westminster area was unveiled on Tuesday by English Heritage, the government's adviser on the historic environment. The new management plan has been created by a steering group chaired by English Heritage and made up of stakeholders including the Government Office for London, the Greater ...
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PropertyEU Archive
Realia gets EUR 1.63 bn syndicated loan
Realia Business, the Spanish developer which raised EUR 783 mln in an initial public offering earlier this month, said it has obtained a EUR 1.63 bn syndicated loan to refinance its debt from a banking consortium with core shareholder Caja Madrid and Banco Espanol de Credito directing the financing.
