Latest reports – Page 3696
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PropertyEU Archive
XXI Century to build 13 hotels
XXI Century Investments has signed an agreement with France's Accor Group for the construction of 13 hotels in Ukraine. The two partners will complete four five-star hotels in Kiev by 2010 along with nine three-star hotels in other Ukrainian cities.
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PropertyEU Archive
Standard Life makes first acquisitions in Sweden
Standard Life Investments has made its first acquisitions in Sweden on behalf of its European Property Growth Fund (EPGF) for EUR 35 mln. The first transaction involved a terrace of four retail warehouse units in the north of Stockholm. The buildings provide a total of just over 4,000 m[sup]2[/sup] of ...
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News
Swedish central bank issues property price warning
SWEDEN - The Central Bank of Sweden warned last week of property price volatility as institutional investors continue to plough cash into Nordic real estate. Central bank deputy governor Lars Nyberg warned in a speech foreign investor interest in...
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News
Texas Employees makes major move to global REITs
UNITED STATES - The Employees Retirement System of Texas has decided to invest all of its targeted allocation for real estate into a global REIT investment strategy. The $24bn (€17.86bn) public pension fund’s targeted allocation for r...
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News
Investors squeeze Ferrovial over Polish project
Institutional investors are urging Spanish infrastructure group Ferrovial to re-route a Polish infrastructure project they claim endangers local wildlife. The Polish government, which commissioned the Via Baltica by-pass project, is currently bef...
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News
US real estate still looks good - ING Clarion
UNITED STATES - Economic and industry fundamentals are still in place to support continued strength in the United States commercial real estate markets in 2007 but returns will be moderate and cap rates will ease, according to ING Clarion. In a US...
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News
Illinois Teachers commits $250m to real estate
UNITED STATES- The Teachers’ Retirement System of the State of Illinois is commiting $250m ($186.2m euros) to real estate investment funds through a combination of new and existing managers. New manager commitments total $150m, seeing $100m...
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News
Ohio School Employees targets Euro investment
UNITED STATES- School Employees Retirement System of Ohio has approved a commitment of up to $25m ($18.6m euros) into the Rockspring TransEuropean Property LPIV. The pension fund made a commitment at its board meeting on May 17th to globally dive...
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News
CalSTRS shifts focus of real estate allocations
UNITED STATES - California State Teachers Retirement System is changing the overall composition of its real estate portfolio to introduce publicly-traded investments as a portfolio segment. At present, CalSTRS has core real estate make-up of betw...
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PropertyEU Archive
Develica Deutschland buys office portfolio
Develica Deutschland said it has acquired a portfolio of five office buildings in Mannheim, southwestern Germany for EUR 19 mln, including costs. The transaction reflects a net yield of 7%. The offices are let predominantly to international corporations. The total lettable space of 17,000 m[sup]2[/sup] generates an annual rent of ...
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PropertyEU Archive
Realia may cut IPO price by 20%, Confidencial says
Realia may cut the share price of its initial public offering (IPO) by around 20% because of weak institutional demand, Spanish news website El Confidencial has claimed. Realia, jointly owned by Spanish savings bank Caja Madrid and construction company FCC, may see its share price range reduced from EUR 7.90 ...
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PropertyEU Archive
Befimmo says 70% of newly-issued shares were subscribed
Belgium' office real estate company Befimmo has announced that about 70% of its newly-issued shares were subscribed by the closing of the subscription period on May 31. Preferential rights that were not exercised by the closing of the period will be represented by scrips. These scrips were offered on June ...
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PropertyEU Archive
Carlyle buys Telefonica HQ in Barcelona for EUR 220m
Private equity firm Carlyle Group is acquiring the Barcelona office of Spanish telephone company Telefonica for EUR 220 mln, Spain's news agency EFE has reported. Carlyle is buying the so-called Estel Building through its Carlyle Europe Real Estate Partners II fund. The property, located in Avenida de Roma in Barcelona, ...
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PropertyEU Archive
Urbas poised for EUR 920m spending spree
Spanish property firm Urbas is close to acquiring two non-listed property companies and an energy firm for a total of EUR 800 mln. During a business forum in Madrid, Urbas' ceo Juan Antonio Ibanez revealed the company is currently in advanced talks to buy two unnamed real estate companies, linked ...
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PropertyEU Archive
Immoeast to build 10 logistics centres in Romania
Immoeast has teamed up with Central European development specialist European Future Group (EFG) to build eight to 10 logistics centres with a combined lettable space of 400,000 m[sup]2[/sup] to 500,000 m[sup]2[/sup] in Romania. The investment volume comes to about EUR 300 mln. Immoeast said that talks are currently underway with ...
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PropertyEU Archive
Ferrovial set to sell Heathrow property for £600m
UK airport operator BAA is currently in talks to sell about half of its offices and warehouses around London's Heathrow airport for about £600 mln (EUR 885 mln). Spanish builder Grupo Ferrovial, which paid $20 bn (EUR 15 bn) for BAA last August, confirmed a report in UK newspaper The ...
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PropertyEU Archive
Belgian state property sell-off to continue
The Belgian federal government is widely expected to continue to sell government buildings in the coming years in order to balance its budget, whatever the outcome of the elections on June 10 and in spite of rising criticism from political parties from left and right. Last year, the government sold ...
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PropertyEU Archive
Babcock & Brown acquires 10 retail properties for EUR 200m
Australia's investment company Babcock & Brown has taken over ten Central-European retail properties from Austria's MID for about EUR 200 mln. The company's German unit said that the buildings comprise some 130,000 m[sup]2[/sup] of commercial area. Major tenants include retailers Saturn, Media Market, Merkur, Tesco, and Interspar. The assets are ...
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PropertyEU Archive
GE Real Estate acquires Hertfordshire development
GE Real Estate UK, in partnership with Bell Hammer, has acquired an office development in the town of Welwyn Garden City in Hertfordshire, England for £10.75 mln (almost EUR 16 mln) from Shepherd Development Company. The scheme, called Alchemy, comprises 3,800 m[sup]2[/sup] of air conditioned office space with 146 car ...
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PropertyEU Archive
Philips aims to save millions on real estate
Dutch electronics company Philips plans to save hundreds of millions of euros on its global real estate in the next five years, according to Kees van der Linden, director of Philips Real Estate. The emphasis will be on Europe. Philips annually spends some EUR 1 bn on maintaining its factories, ...
