Latest reports – Page 3693
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PropertyEU Archive
Pirelli, Morgan Stanley get go-ahead for funds' bid
Gamma RE, a joint venture between Italian giant Pirelli Real Estate and Morgan Stanley, has received authorisation from Italian stock market regulator Consob for the publication of documents relating to public tender offers for the Tecla and Berenice funds. Both are closed-ended office real estate funds listed on the MTF ...
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PropertyEU Archive
Moscow office space to expand by 1 mln m2
Moscow's office supply is set to expand by one million m[sup]2[/sup] in the course of 2007, bringing total available space to 7.5 million m2, according to researchers at CB Richard Ellis/Noble Gibbons. Demand for office space in the Russian capital remains strong, with new lettings reaching 480,000 m[sup]2[/sup] in the ...
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PropertyEU Archive
TNT to develop new offices to cut CO2 emissions
Dutch mail and express delivery firm TNT is to reduce its office floor space in the Netherlands from 150,000 m[sup]2[/sup] to 100,000 m[sup]2[/sup] and move to new custom-built premises to meet its target of making its offices totally CO2 emission-free over seven years. The announcement was made by TNT's real ...
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PropertyEU Archive
Eurosic unveils EUR 290m rights issue
Paris-listed real estate investment trust Eurosic plans to raise up to EUR 290 mln by issuing 5.3 million new shares at EUR 53.8 each. The capital increase is being carried out from 11 to 22 June through the free provision of warrants to existing shareholders. The amount raised may increase ...
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PropertyEU Archive
Peel files second Salford racecourse plan
UK property developer Peel has filed a second planning application with Salford city council for its £100 mln Salford Forest Park racecourse development. The company is planning to build an equestrian centre, an all-weather racetrack and a 6,000 seat grandstand on the 1,690 acre (6.8 million m2) former estate site. ...
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PropertyEU Archive
Ablon prepares EUR 140m scheme in Bucharest
Ablon Group, the real estate developer operating in Central and Eastern Europe, expects a new apartment and office development in Bucharest will generate total revenues of between EUR 120-140 mln. Having completed the acquisition of a 33,600 m[sup]2[/sup] plot of land in the Pipera district of the Romanian capital for ...
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PropertyEU Archive
Schroder buys into logistics property in Fiumicino
UK-based property management company Schroder is acquiring a 65,000 m[sup]2[/sup] logistics centre in Fiumicino, near Rome's international airport. The complex is part of a 400,000 m[sup]2[/sup] logistics park being developed by the Interporto di Fiumicino company. The investment value comes to EUR 50 mln, with an initial yield of about ...
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PropertyEU Archive
Hypo RE provides financing for Franklin tower
Hypo Real Estate Bank International is providing the financing for the acquisition of the Tour Franklin development by the Carlyle group for EUR 95 mln. Located in Hauts-de-Seine, in de Ile-de-France region in Paris, the tower is currently being redeveloped by Meunier Groupe.
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PropertyEU Archive
Russia, Turkey lead European retail development boom
'We are in the middle of the largest development boom Europe has ever seen in terms of shopping centres,' Neville Moss, head of European retail research at Jones Lang LaSalle, has said during the PropertyNL Retail Forum in Amsterdam last week.
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PropertyEU Archive
Astroc recovers after sharp fall
Astroc Mediterraneo, the Spanish real estate company, recovered some ground on Friday after falling to its lowest level in a year the previous day. The share price gained almost 4% to close at EUR 11.21 after falling 14% on Thursday to EUR 10.80. Astroc has seen its shares lose over ...
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PropertyEU Archive
Reyal Urbis buys Lisbon's Silva Amado asset
Spain's Reyal Urbis has acquired a 50% stake in the historic Silva Amado building in Lisbon for EUR 20 mln. The 18th century property provides some 9,000 m[sup]2[/sup] of gross space that will be converted into a 55-room, five-star hotel, Reyal said. The Spanish company already owns 50% of ...
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PropertyEU Archive
Pirelli RE sells Rome asset for EUR 110m
Pirelli Real Estate said that its Olinda Fondo Shops has sold a retail asset in Rome for EUR 110 mln. The property, located in Rome's central shopping area at Via del Corso, was bought by an unnamed private investor. Pirelli said the transaction generated a book gain of EUR 33 ...
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PropertyEU Archive
Homburg buys in the Netherlands
Property investment and development company Homburg has acquired a portfolio of three offices in Amstelveen, near Amsterdam from HSBC Trinkhaus & Burkhardt. The company, owned by Dutch-Canadian investor Richard Homburg, said that it paid EUR 39 mln for the acquisition.
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PropertyEU Archive
Trigranit poised to invest EUR 5 bn in Russia
Hungarian developer Trigranit is planning to invest some EUR 5 bn to buy companies and develop real estate in Russia. The Budapest-based company bought a medium-sized Russian firm last week and aims to acquire as many as nine more, chairman Sandor Demjan said in an interview to Bloomberg on Thursday. ...
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PropertyEU Archive
Citycon acquires mall in Tallinn
Citycon has acquired Magistral shopping centre in the Mustamae district of Tallinn, Estonia, for about EUR 17 mln. The fully-leased mall, completed in 2000, has a gross lettable area of 9,450 m[sup]2[/sup]. The company said that the shopping centre provides significant opportunities for development and extension. Citycon also agreed to ...
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PropertyEU Archive
Morgan Stanley predicts property will outperform other assets
Returns from real estate will probably outperform other assets in the next few years, John Carrafiell, global co-head of Morgan Stanley Real Estate Investing, the biggest property investor among Wall Street banks, has told a private equity conference in London. Demand for real estate investment has been aided by lower ...
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PropertyEU Archive
Italy's REIT legislation gets final approval
Italy's state council has given the green light to legislation favouring the introduction of real estate investment trusts (REITs), known as SIIQs. The decree, introduced as part of the Italian budget law for 2006, was backed by the deputy economics minister Vincenzo Visco last month, but awaits final approval from ...
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PropertyEU Archive
Foreign property investors heading eastward
Growing confidence about the economic recovery in European is continuing to draw in foreign property investors into the region, according to the Royal Institution of Chartered Surveyors (RICS) Global Property Survey. But fierce competition for prime assets in the established European centres is increasingly driving cross-boarder investors eastwards - despite ...
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PropertyEU Archive
Rankvale spends EUR 142m on Geman shopping centres
Rankvale European Property Partners (REPP), the real estate investment arm of London-based Rankvale Holdings, has acquired the Seidnitz Centre in Dresden through the acquisition of shares in a limited partnership for EUR 95 mln. The acquisition, representing an initial yield of 6.8% per annum, is the third and largest ...
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PropertyEU Archive
Chinese eye UK, US property markets
The managing director of Capital and Counties, Ian Hawkworth, told members of the FIABCI (International Real Estate Federation) that Chinese construction companies are eying targets in the UK and US construction sectors. 'Chinese construction companies are the most sophisticated in the world, and they've built more high rise ...
