Latest reports – Page 3694
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PropertyEU Archive
NH Hotels buys hotel project in Rotterdam
Dutch developers Bouwfonds and OVG have agreed the sale to NH Hotels of a four-star hotel to be developed in the Wilhelminapier central area of Rotterdam. The hotel will be part of De Rotterdam project, which has been designed by architect Rem Koolhaas of OMA Architecten. The hotel will comprise ...
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PropertyEU Archive
Macquarie looks to Europe's fringe for highest logistics returns
Macquarie Goodman, the Australian logistics property group, expects the Netherlands, Ireland, Spain and Finland to yield the highest returns for the logistics sector this year. The returns in these four countries will be above 10% for 2007, 2% more than the rest of Eurozone, according to research by Arlington Securities, ...
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PropertyEU Archive
Uni-Invest seeks EUR 300m listing on Euronext
Uni-Invest is planning to seek a listing on Euronext Amsterdam this month. The Dutch commercial property company hopes to raise about EUR 310 mln through the flotation, which is aimed at funding further acquisitions in the Dutch office and industrial property markets.
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PropertyEU Archive
Warburg-Henderson buys Munich property for EUR 60m
Warburg-Henderson Kapitalanlagegesellschaft für Immobilien (KAG) has bought the administration buildings of the ARAG insurance company in Munich for EUR 60 mln. ARAG will lease the properties back for a period of two years. The 17,000 m[sup]2[/sup] asset is earmarked for Warburg-Henderson's German fund NR. 1. The company said it intends ...
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PropertyEU Archive
Property share sales hit by 'investor apathy'
Three property share issues have been hit this week in the face of investor apathy. Spanish developer Reyal Urbis has decided to call off a share sale planned for end-June because of unfavourable market conditions. 'At the moment, the market doesn't discriminate in an adequate fashion between the different segments, ...
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PropertyEU Archive
Tishman Speyer fund raises EUR 1 bn
Tishman Speyer has raised EUR 1 bn for its new, value-added European Real Estate Venture VI (TSEV) during the final close of the fund. The capital will bring the fund's total buying capacity to EUR 4 bn, the company said in a press release. Over 40% of the capital raised ...
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PropertyEU Archive
Orco's Avenue Gardens win Best Developer Award
Orco Property Group has received the Best Developer Award in the residential category for the Avenue Gardens project during the CEPIF (Central Europe Property & Investment Fair) Gala Party which took place in Warsaw, Poland.
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PropertyEU Archive
Pirelli RE hints at German company buy
Pirelli Real Estate, Italy's largest property manager, is in talks to buy an unnamed German company to increase its managed assets outside its home market. Ceo Carlo Puri Negri said on Thursday at a conference in Milan that the target is 'slightly bigger' than Deutsche Grundvermoegen (DGAG), which Pirelli ...
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PropertyEU Archive
Vector scraps IPO on lack of interest
UK's Vector Hospitality has called off its proposed £1.8 bn (EUR 2.65 bn) flotation, citing weak investor demand. Vector said late Wednesday that 'as a result of market conditions, its offer of ordinary shares has been postponed.' The company did not give an indication of when IPO will go ahead.
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PropertyEU Archive
Sponda signs EUR 350 mln syndicated credit facility
Sponda has signed a five-year EUR 350 mln syndicated credit agreement to refinance the outstanding short-term loan raised in December 2006 to finance the acquisition of Finnish peer Kapiteeli. The lead managers of this issue are Nordea, OKO Bank, Skandinaviska Enskilda Banken, Helsinki Branch, and the manager is Swedbank. The ...
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PropertyEU Archive
CA Immo acquires City Deco project in Prague
Austrian property investment company CA Immo has strengthened its position in the Czech Republic with the purchase of the mixed-use City Deco project in Prague from ECM Real Estate Investments for about EUR 47 mln. City Deco is part of the City project in the Pankrac district of Prague. Some ...
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PropertyEU Archive
Reit snaps up £425m Evan's portfolio
Reit Asset Management emerged as the winner of the auction for Evan's Property Group's 275-building UK portfolio. Reit, run by tycoon Leo Noe, beat major US and UK investors in the bidding for the £425 mln (EUR 627 mln) portfolio put up for sale earlier this year, Bloomberg reported.
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PropertyEU Archive
HSH Nordbank finances Lubeck mall purchase
HSH Nordbank, the Hamburg-based bank focused on transportation and real estate, is providing a EUR 32 mln loan to German retail property company GWB Immobilien for the acquisition of the Konigspassage shopping centre in the northern German city of Lubeck. The 15,000 m[sup]2[/sup] shopping centre was opened in 1994 and ...
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PropertyEU Archive
Caring buys Annabel's club for £95m
Entrepreneur Richard Caring is expected to finalise the buy-out of Annabel's, the upmarket Mayfair nightclub and celebrity hang-out, for an estimated £95 mln on Thursday, according to reports in several UK newspapers. Mark Birley, the club's founder and owner since 1963, is said to have agreed a deal on Wednesday ...
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PropertyEU Archive
Prupim acquires Lufthansa's new HQ
Prupim, the London-based real estate investment giant, has entered into a forward commitment to purchase the development of Lufthansa's new flagship headquarters in Cologne, Germany. The 19,000 m[sup]2[/sup] property was acquired from Commerleasing and Immobilien on behalf of the M&G European Property Fund for an undisclosed amount. Lufthansa has ...
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PropertyEU Archive
Bank of England keeps interest rates at 5.50%
The Bank of England voted on Thursday to keep its benchmark interest rates on hold at 5.50%. 'The recent fall in inflation has not been as dramatic as hoped, but other indicators of a cooling economy have provided enough evidence for the Bank to hold fire on raising interest rates. ...
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PropertyEU Archive
DevSecs files plan for Hammersmith scheme
UK property firm Development Securities has filed a planning application for a mixed-use scheme at Hammersmith Grove in west London. The plans include the development of 340,000 sq ft (103,000 m2) of offices, a 20,000 sq ft multi-screen cinema and 15,000 sq ft of restaurants and retail property.
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PropertyEU Archive
Apollo RE, Hark buy Telford mall for EUR 652m
Telford Shopping Centre in the UK was sold on Wednesday for £442 mln (EUR 652 mln) to American company Apollo Real Estate and private development company Hark Group. The joint venture has bought the 93,000 m[sup]2[/sup] mall from the Universities' Superannuation Scheme (USS), a UK pension scheme. Last November USS ...
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PropertyEU Archive
Shurgard Europe to raise EUR 752m in IPO
Shurgard Europe, the largest owner of self-storage units in Europe, is planning to raise as much as EUR 752 mln in an initial public offering (IPO) on Euronext Brussels. Shurgard, a unit of California-based Public Storage, is offering about 44 million new shares at a price of EUR 12.50 to ...
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PropertyEU Archive
Vector cuts IPO price range by 20%
Vector Hospitality cut the price range of its flotation on Wednesday from 995p-£11.15 to 875p-900p, after insufficient interest from investors. Vector, which is planning to convert to the UK's first hotel real estate investment trust (REIT) once it has floated, had to lower the price range by about 20%, despite ...
