Latest reports – Page 3698
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PropertyEU Archive
Deutsche Bank to buy HQ for EUR 272m
Deutsche Bank AG, Germany's biggest bank, plans to buy its headquarters in Frankfurt for EUR 272 mln before a planned renovation. The bank made the offer to about 1,300 investors in a DB Real Estate fund that owns the buildings, spokesman Tim Ambrosius said. Deutsche Bank moved into the property ...
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PropertyEU Archive
Morgan Stanley set for EUR 2.8 bn Investa buy
Morgan Stanley has agreed to buy Australia's biggest office owner Investa for A$ 4.7 bn (EUR 2.8 bn) in cash. The offer values Investa shares at A$3.08 each, a 14% premium on Wednesday's closing price. This is the latest of a series of acquisitions by the US lender aimed at ...
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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
Cordea Savills opens new office in Ireland
Property fund manager Cordea Savills has expanded its international network of offices with the opening of an office in Dublin, Ireland. The main focus of this office, headed by Matt Jones, will be to provide high net worth private investors in Ireland with access to attractive commercial and residential property ...
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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
Urbas to invest EUR 300 mln in renewable energy
Spanish property firm Urbas says it plans to invest EUR 300 mln in renewable energy production over the next five years. The company's ceo Juan Antonio Ibanez said Urbas has received permission to build capacity for the production of 20 megawatts and is close to acquiring an unnamed Spanish energy ...
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PropertyEU Archive
Eiffage will appeal Sacyr's offer
Eiffage's chairman Jean-Francois Roverato said that the French group will appeal against any decision by markets authority AMF to allow Spanish Sacyr Vallehermoso's all-share bid for Eiffage, news agency Europa Press reported. Sacyr, Eiffage's majority shareholder with a 33% stake, is seeking to take over France's third-largest construction company Eiffage ...
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PropertyEU Archive
IGD, GAM join forces in new commercial venture
Italian property company Immobiliare Grande Distribuzione (IGD) has teamed up with Despar Italia Group's subsidiary GAM to set up a new venture that will invest in retail property across Italy. This 50/50 joint venture owns a EUR 70 mln shopping centre in Vibo Valentia, southern Italy. The mall, anchored by ...
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PropertyEU Archive
Union Investment completes Pinnacle sale
German investment company Union Investment Real Estate has completed the sale of its interest in the 288-metre The Pinnacle development to Arab Investments, allowing the next construction phase for the City of London's tallest building to proceed. The deal, announced at the end of February this year, was said to ...
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PropertyEU Archive
Realia fixes maximal share price at EUR 8.8 per stock
Spanish real estate developer Realia has decided to set the maximum share price of its initial public offering (IPO) at EUR 8.8 per share, down from the top price of EUR 9.7 outlined in its first IPO notice. The company had indicated a price range of between EUR 7.9 and ...
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PropertyEU Archive
Miller to launch EUR 1 bn European fund
Miller Developments, the commercial property subsidiary of the UK's Miller Group, is planning to launch a EUR 1 bn fund to invest in retail property across Europe by the end of the year, ceo Phil Miller said during a visit to an out-of-town scheme that the company developed in Hungary. ...
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PropertyEU Archive
Vivacon boosts residential stock to 13,000 units
Vivacon, the German residential property company, has acquired a portfolio of just over 3,000 housing units with some commercial space in various transactions carried out by its subsidiaries. The properties are mainly located in Bremen, Bavaria, Lower Saxony, North Rhine-Westphalia and Schleswig-Holstein and have a total rentable area of approximately ...
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PropertyEU Archive
Itacare begins trading on AIM
Itacare Capital Investments began trading on the Alternative Investment Market (AIM) of London Stock Exchange on Wednesday, having raised EUR 56 mln in its IPO to fund development of beachfront villas in Bahai, Brazil. Itacare is a limited liability, closed-ended real estate company incorporated in the British Virgin Islands.
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PropertyEU Archive
L&R may get David Lloyd leisure business
Private property company London & Regional is set to buy the David Lloyd Leisure business from Whitbread this week for a figure close to £940 mln (EUR 1.382 bn), the Financial Times has reported. London & Regional, run by Ian and Richard Livingstone, has reportedly made the highest bid for ...
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PropertyEU Archive
Sparkassen to invest EUR 500m in Bulgaria by 2010
Erste Bank Group's real estate division Sparkassen Immobilien, and Germany's ECE Projektmanagement are developing a EUR 180 mln commercial and business center in Sofia, newspaper Dvevnik reported. Erste bank is also planning to invest up to EUR 500 mln in Bulgarian retail, office and residential developments through 2010.
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PropertyEU Archive
Prupim enters Sweden with landmark office buy
Prudential Property Investment Managers (Prupim) has entered the Swedish market with the acquisition of a EUR 41 mln landmark office building in Kungholmen on behalf of the M&G European Property Fund. Prupim - in the top 10 of global real estate investment managers - purchased the 11,300 m[sup]2[/sup] 'Paradiset ...
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PropertyEU Archive
Unibail set to enter French CAC 40 index
French property giant Unibail and Franco-Dutch airline Air France-KLM are to join the CAC 40, the main stock exchange index in Paris, on June 18, NYSE Euronext has announced. The companies are to replace insurer AGF and electronics group Thompson. Unibail and Dutch retail property specialist Rodamco Europe are working ...
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PropertyEU Archive
Beni Stabili wins EUR 180m Demanio portfolio
Italian property company Beni Stabili has won the public contest for Fondo Immobiliare Pubblico (FIP) no. 1 for a total of EUR 180 mln. The portfolio, put on the market last March, received about 40 bids from national and foreign investors, Beni Stabili said in a press release. Final binding ...
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PropertyEU Archive
Northern European Properties invests EUR 231m in Russia
Tightening yields in the Nordic region during the first half of 2007 stimulated Northern European Properties (NEPR) to reduce its holdings there and invest in Baltic Russia. The Jersey-registered real estate investment company has announced the acquisition of six properties in Russia for EUR 231 mln and the sale of ...
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PropertyEU Archive
Infrastructure jv buys owner of UK port
Global Infrastructure Partners has acquired IPH (Jersey), owner of Great Yarmouth port on England's East coast for an undisclosed sum. In a statement, the joint venture between GE Infrastructure and Credit Suisse, said it will acquire the port in exchange for building a new outer harbour and other investments. Great ...
