Latest reports – Page 3697
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PropertyEU Archive
Lion Capital snaps up Dutch department store
London-based private equity firm Lion Capital has bought Dutch department store chain Hema, it was announced late on Friday. Lion Capital and the vendor Maxeda, a privately-held retail group headquartered in Amsterdam, confirmed the transaction but declined to reveal the financial details. The Sunday Times in the UK said Lion ...
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PropertyEU Archive
PIK raises EUR 1.4 bn in Europe's biggest developer IPO
Russian residential builder PIK Group has sold some 74 million shares at $25 each in the biggest Initial Public Offering (IPO) by a developer in Europe. PIK raised $ 1.85 bn (about EUR 1.4 bn) in the IPO which values the group at $12.3 bn. Net proceeds amounting to $895 ...
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PropertyEU Archive
XXI Century and Accor agreed open first Sofitel in Kiev
XXI Century Investments and Accord, the French hotel group, have reached agreement on the development and management of a new EUR 90 mln five-star hotel in Kiev, the first hotel of the chain to operate in the Ukrainian capital. XXI Century is the developer of this project and the Accor ...
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PropertyEU Archive
Four university teams selected for ULI's European competition
Four teams have been selected as finalists in a pilot programme for a ULI European student urban design competition, which comes with a prize of EUR 35,000 for the winning team and EUR 7,000 for each of the finalist teams. The competition is being sponsored by ECE Projektmanagement, Grosvenor and ...
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PropertyEU Archive
G-REITs get presidential stamp of approval
Germany has officially joined the growing club of European countries with a tax-friendly real estate investment trust (REIT) after German president Horst Kohler signed the G-REIT law on Thursday. The law, ratified by the German parliament last March, is now effective retroactively to 1 January 2007. Several property companies in ...
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PropertyEU Archive
SEB makes first acquisition in Slovakia
German real estate investment company SEB Immobilien-Investment has acquired the Europeum Business Centre in the Slovakian capital of Bratislava in its first investment in the country. The fully-let office building was acquired for EUR 37 mln through a holding company whose previous joint owners were ImmoConsult Wien, a wholly owned ...
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PropertyEU Archive
CA Immo set to develop EUR 100m Sofia project
CA Immo International is planning to invest about EUR 96 mln in the Megapark development project located in Sofia. The scheme, to be developed in two phases, will comprise a 40,000 m[sup]2[/sup] office space and some 3,600 m[sup]2[/sup] of retail after the first phase is completed by end-2009. This project ...
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PropertyEU Archive
Austrian property market gets an upgrade
European rating agency Feri has upgraded its rating for the Austrian real estate market from B to B+ following the recent economic upturn. After a slump of several years, prices have been on the rise since 2004, with the Austrian office market benefiting in particular from the upswing. Austrian office ...
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PropertyEU Archive
Dolce & Gabbana leases 1,500 m[sup]2[/sup] at Milano Santa Giulia
Italy's Risanamento has signed a long-term contract with Dolce & Gabbana for two sites at its Milano Santa Giulia project. Dolce & Gabbana agreed on a 9 + 9-year lease agreement for about 1,500 m[sup]2[/sup]. The rental price was not disclosed. Analysts at merchant bank Kempen & Co are assuming ...
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PropertyEU Archive
E.on's GPS finds way to top of IPE awards
German power company E.on's Global Property Select (GPS) service has emerged as the runaway winner at the 2007 IPE Real Estate Awards. GPS picked up five real estate investment awards and was named the Best European Pension Fund 2007 at the Moevenpick Hotel in Amsterdam on Thursday.
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PropertyEU Archive
Vector Hospitality sells EUR 868m in convertible bonds
Vector Hospitality has completed the sale of £588 mln (EUR 866 mln) of convertible bonds. The UK hotel owner Vector sold five-year bonds with a coupon of 2.75%, the lower end of a proposed range that was as high as 3.25%, the London-based company said today in a regulatory news ...
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News
Population decline could hit office space demand
EUROPE – Pension fund investors will need to be more selective about the property investments they make in the future as a decreasing European labour market is likely to slow the growth of demand for office space, according to the University of...
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News
E.on crowned top European real estate pension investor
EUROPE - E.on’s GPS service was the runaway winner of the evening at this year’s IPE Real Estate Awards as it picked up no less than five real estate investment awards and was named the Best European Pension Fund 2007. Presented at the...
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PropertyEU Archive
Dunedin stays mum on 'for sale' news
Property firm Dunedin has not responded to media reports that it is to sell its 900,000 m[sup]2[/sup] UK industrial portfolio and a subsidiary, Industrious Asset Management, for as much as £ 700 mln (EUR 1 bn). The company has reportedly appointed Morgan Stanley to sell the package. When contacted by ...
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PropertyEU Archive
Cofinimmo snaps up 9 Belgian nursing homes
Belgian property investor Cofinimmo has acquired nine nursing homes and 25 hectares of land by the acquisition of 100% of the shares of the property activities of nursing home operator Van den Brande Group for an undisclosed sum. The company said the nursing homes have 809 beds and total floor ...
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PropertyEU Archive
Riksbank says 'property price rises will prove unsustainable'
Lars Nyberg, the deputy governor of Sweden's central bank Riksbank, said that high growth rates for both commercial property and housing in Sweden will prove unsustainable in the longer term. 'I believe that property prices may well continue rising at a fairly high rate over the coming period. But in ...
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PropertyEU Archive
Pirelli RE launches Ecobuilding programme
Italy's Pirelli Real Estate is launching an eco-sustainable real estate development programme. The Ecobuilding project will involve the development of residential and commercial buildings that will focus on four core standards; efficient energy, not only for winter heating but also for summer cooling; the use of eco-compatible materials; the use ...
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PropertyEU Archive
Ferrovial says security costs delay BAA profit
Spanish builder Grupo Ferrovial said that UK airport operator BAA won't contribute to earnings until 2011 after a terror alert last year led to higher security costs. Ferrovial spent $20 bn (EUR 15 bn) for BAA last August, the same month an alert increased security costs at BAA to $42 ...
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PropertyEU Archive
MIG buys Nicosia hotel
MIG Leisure, a subsidiary of Greece's Marfin Investment Group (MIG), has completed the purchase of the Hilton Cyprus hotel in Nicosia for EUR 59 mln. The property has been sold by Cyprus' Tourism and Development Public Company. Hilton Cyprus, the only five-star hotel in Nicosia, has about 300 rooms.
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PropertyEU Archive
TDC to sell property holdings for EUR 967 mln
Danish telecom firm TDC is reportedly planning to sell its property holdings for around EUR 967 mln and lease back the property. Danish business newspaper paper Boersen said real estate investors from Denmark and elsewhere are preparing bids for the property. TDC is considering selling off its Copenhagen head ...
