Latest reports – Page 3699
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PropertyEU Archive
Cordea Savills completes placing of Pan European Property Fund
Property fund manager Cordea Savills has successfully completed the placing of its Pan European Property Fund. Mediobanca acted as sole underwriter. To date, the fund has attracted EUR 170 mln of equities to be invested in logistics, retail and office property across Europe. The fund has already eyed investment opportunities ...
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PropertyEU Archive
Meag buys Zenith-Tower in Brussels
Munich-based asset manager Meag has signed a deal with Codic Belgium for the acquisition of all the shares in special purpose company that owns the Zenith-Tower development in Brussels, Belgium. The Zenith-Tower was purchased for the institutional office fund Meag Euro Pro. The price was not disclosed, but Meag said ...
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PropertyEU Archive
Deutsche Wohnen to double apartments by 2009
German residential property company Deutsche Wohnen plans to buy as many as 1,000 more apartments by the end of the year and double the amount of properties it owns by 2009. Deutsche Wohnen, based in Mainz, acquired 1,000 apartments in the first three months, bringing the total size of its ...
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PropertyEU Archive
Bulgaria witnesses surge in foreign RE investment
Foreign investment in Bulgarian property increased to EUR 1.1 bn last year, up from EUR 336 mln in 2005, the country's central bank reported. Spurred on by Bulgaria's entry into the EU on 1 January this year, the foreign investment stream rose 63% in the first quarter of this year, ...
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PropertyEU Archive
Berlin top office rents tipped to go through roof
A significant increase in the average office rent level is imminent in Berlin, particularly for the top end of the market, according to real estate consultants Winters & Hirsch. The economic recovery in Germany is a major driver of rent levels. The Federal Government expects an 2.3% increase in the ...
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PropertyEU Archive
Electra premiers in Netherlands with largest deal
Israel's Electra Real Estate has scored two firsts with the acquisition, along with an unnamed partner, of a portfolio of 10 office properties in the Netherlands and Germany for NIS 1.5 bn (about EUR 276 mln). The deal was the largest ever carried out by Electra and its first in ...
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PropertyEU Archive
Tishman, Lehman acquires US apartment landlord for $22 bn
Tishman Speyer Properties and Lehman Brothers have agreed to buy US apartment developer Archstone-Smith Trust for $13.5 bn (EUR 10 bn) and debt, Bloomberg reported. Tishman, the New York-based real estate investor, and Lehman Brothers will pay $60.75 a share, 19% more than the May 24 closing price. Including debt, ...
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PropertyEU Archive
Retail billionaire moves into London residential market
UK retail billionaire Richard Caring has reportedly beaten off 38 competitors to acquire the site of the US Navy headquarters in Grosvenor Square next to the US embassy in London for £250 mln (EUR 367 mln). The Sunday Times newspaper said he plans to build luxury apartments. This is ...
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PropertyEU Archive
Sponda continues expansion in Russia
The Russian arm of Finnish real estate investment company Sponda Germany's Spag have signed a binding agreement to purchase three office properties close to the centre of St Petersburg for EUR 4 mln. The properties have a combined leasable area of 2690 m[sup]2[/sup] and are fully leased. The tenants are ...
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News
Value-add sole UK strategy
UK - Institutional investors – including pension funds – are getting more involved to decisions made by real estate fund managers as value-adding strategies become the differentiator between UK funds, according to Arlington Securities.
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News
Washington State commits $300m to opportunity fund
UNITED STATES - Washington State Investment Board has approved a commitment of up to $300m ($223m euros) into the Fortress Investment Fund V. Having agreed the action at its board meeting on May 17th, the investment will be split to give directly ...
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News
Ohio PERS moves ahead with real estate plan
UNITED STATES - Ohio Public Employees Retirement System is making some headway in its plans to invest $1.35bn ($1.004bn euros) in real estate this year. The pension fund had allocated $300m to invest in closed-ended commingled funds in 2007 as we...
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News
Corio sees net profits rise 44.3%
NETHERLANDS - Net profits of property investor Corio rose by over 44% to over €97m during the first quarter, the company announced. Compared to the first quarter of last year, net rental income increased 10.5% to €78.9m and there were ...
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News
US fund manager exploits UK appetite for equities
UK - US property fund manager Cohen & Steers has set up a London office to capitalise on pension funds’ burgeoning appetite for indirect investment. The office will target continental as well as UK pension funds but asked if the timing...
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News
REITS squeeze UK’s remaining value
UK - Two UK property REITs have reported positive annual returns but diverged on forecasts for the UK market. British Land reported an annual return of 21.3%, with a 13% year-on-year pre-tax profits increase to £257m. The firm, which conv...
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News
Pramerica adds presence in Mexico
MEXICO - Pramerica Real Estate Investors is expanding its investment operations in Mexico with a new strategic alliance with Industrial Global Solutions de Mexico SA de CV. Pramerica anticipates it will invest in one to three million square feet ...
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News
FTSE tunes its radar to EM
GLOBAL - FTSE is looking at extending its series of indices linked to the listed global real estate market to cover the emerging markets and smaller caps sectors. Gareth Parker, head of index design at the FTSE Group, said the information provider...
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News
Morgan Stanley widens its real estate presence
GLOBAL - Morgan Stanley Real Estate is making its first move into Poland and expanding operations in Brazil, just as it is thought to be completing its biggest ever real estate fund launch. The real estate manager has acquired a 25% stake in WAN ...
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News
"Patient capital" should fund infrastructure - OECD
GLOBAL - Governments should encourage pension funds to bankroll global infrastructure in the wake of inadequate public investment, according to a report published this month by the OECD. Based on a two-year study, the report suggested tapping pens...
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News
Real estate contributes 10% of total return
GLOBAL - Investing in global real estate contributes over 115 basis points or 10% to a pension fund’s annual total return, according to evidence presented by Ibbotson Associates. A study of global real estate past performance conducted by th...
