Latest reports – Page 3689
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News
Pension funds see Heitman hit double the target
UNITED STATES - Heitman has attracted pension fund institutional investors to the tune of $800m ($599.6m euros) for its commingled fund known as Heitman Value Partners II - double the size of its original $400m Heitman Value Partners offering. One...
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PropertyEU Archive
Birmingham council to decide on casino development
Birmingham City Council's executive will decide on 25 June whether to approve in principle the development of a large casino, hotel and leisure complex at the New Exhibition Centre in the city. The proposals have been drawn up as a result of Solihull Metropolitan Borough Council being recommended to the ...
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PropertyEU Archive
Metro Baltic broadens horizons in Latvia and Estonia
Metro Baltic Horizons is acquiring two development properties in Riga, Latvia and Tallinn, Estonia for EUR 28 mln. After these transactions, the company - which is focused on prime commercial and development in the capital of the Baltic States and St Petersburg, Russia - will have invested 65% of the ...
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PropertyEU Archive
Rodamco Europe acquires Le Havre shopping centre
Rotterdam-based Rodamco Europe has strengthened its position in the French retail property sector with the acquisition of the Docks Vauban shopping and leisure centre project in the harbour area of Le Havre. Vinci Immobilier and ING Real Estate Development have signed an agreement with Rodamco to sell the project for ...
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PropertyEU Archive
Hypo completes EUR 42m financing for Madrid leisure centre
Hypo Real Estate Bank International has provided a EUR 42 mln senior financing facility and a EUR 3.4 mln VAT refinancing facility for Grupo GMR's 36,000 m[sup]2[/sup] Barrio Art Deco leisure centre in the Spanish capital Madrid. Harin Thaker, ceo Europe of Hypo Real Estate Bank International said: 'We are ...
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PropertyEU Archive
CBRE acquires French residential specialist
Global property advisor CB Richard Ellis has acquired Guy Nepalz Conseil (GNC), a real estate services company in France specialising in residential property. Founded in 1996, Paris-based GNC focuses on the sale of residential properties, as well as the sale of and consultation for land development.
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PropertyEU Archive
ING takes over major Korean asset manager
Dutch financial group ING has reached agreement with Morgan Stanley and the other stakeholders for the takeover of Korean asset manager Landmark Investment Management. The financial details of the transaction was not disclosed but ING said it will increase the debt/equity ratio of ING Insurance by 65 basis points.
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PropertyEU Archive
Aberdeen Property to launch Russian fund
Aberdeen Property Investors has said it is finalising plans to launch a Russian direct property fund for institutional investors. 'Many of our institutional clients have expressed an interest in gaining exposure in the Eastern European property markets and want to have a professional partner with local resources,' commented Ubbe Strihagen, ...
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PropertyEU Archive
Fabian Romania buys office project for EUR 24m
Fabian Romania Property Fund has agreed to buy the Baneasa Business Center office in the north of Bucharest from Austria's Immoconsult Leasinggesellschaft for EUR 24 mln. The office development is part of the one million m[sup]2[/sup] Banaesa project - one of the largest urban development projects in Europe. The business ...
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PropertyEU Archive
Immoeast invests EUR 63m in 2 Warsaw projects
Austrian listed real estate company Immoeast has expanded further in Poland, with the finalisation of two investments, totalling EUR 63 mln, in business locations in Warsaw.
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PropertyEU Archive
Canary Wharf moves into the City
Developer Canary Wharf Group, a subsidiary of Songbird Estates, is to embark on its first project outside the Canary Wharf estate. Morgan Stanley Real Estate Fund V and Exemplar Developments, on behalf of Omega Land, have teamed up with the Canary Wharf Group in a joint venture to redevelop the ...
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PropertyEU Archive
JLL forges alliances in Denmark and India
Jones Lang LaSalle Corporate Finance has established a working relationship with Invensure, a firm in Denmark that specialises in advising pension funds and life insurance companies. Michael Weischer, chairman of the Danish Real Estate Club, joins Invensure from PenSam where he was responsible for asset allocation and indirect real estate ...
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PropertyEU Archive
HSBC aims to sublet Canary Wharf HQ
HSBC aims to sublet 50% of its London-based headquarters at Canary Wharf, ceo Michael Geoghegan told a financial conference in Lisbon last week. 'I've challenged us within seven years to have 50% of that building empty, to sublet to someone else. I don't think we’re a really progressive, perceptive company ...
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PropertyEU Archive
Axa buys Zentro shopping mall in Rothenburg
Property Trust Rothenburg, the Luxembourg-based fund of Axa Real Estate Investment Managers, has acquired the Zentro shopping centre in the German town of Rothenburg for EUR 25 mln. The vendor was a private investment company.
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PropertyEU Archive
Infrastructure is a 'burgeoning global asset class'
Infrastructure is exciting property investors across the globe as a 'burgeoning global asset class' that offers enormous potential in terms of variety of assets and market value.
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PropertyEU Archive
UBS retail deal sets record low yield
UBS has paid EUR 100 mln for Metromar shopping centre in Seville, its first to date in Spain, Europroperty reported. The deal reflects a yield of 4.5% to 4.75%, a record low for the market. Net yields for prime shopping malls in Spain range between 4.75% and 5%.
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PropertyEU Archive
Telefonica raises EUR 1.9bn from property sell-off
Telefonica has raised EUR 1.9 bn by selling more than 300 buildings, Spanish newspaper El Mundo reported. The Spanish telecommunications concern eventually aims to sell 350 properties in a process that began in 2002, the newspaper said.
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PropertyEU Archive
Invesco buys 4-star Nice hotel
The hotel and leisure arm of fund manager Invesco has acquired the four-star Sofitel hotel in Nice, France, from an unnamed buyer. No financial details were disclosed. The 152-room hotels has been rebranded and leased to Spanish hotel operator NH Hotels, said property broker Christie + Co, which acted as ...
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PropertyEU Archive
Prudential sets up first fixed-income property fund
Two of Prudential's fund management arms have launched a fixed-income property fund which Property Week has hailed as the first of its kind for institutional investors. The fund will buy property with fixed or inflation-linked rental uplifts, and aims to deliver a secured long-term income stream through a well-diversified portfolio ...
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PropertyEU Archive
IPBM buys three Club Med villages for EUR 117m
IPBM has acquired three freehold Club Med villages from Lucia for EUR 117 mln, the French listed company announced on Friday. The villages are located in France and Switzerland.
