Latest reports – Page 3702
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PropertyEU Archive
Kenmore buys Astoria building in Rennes
Kenmore Property Group has made the first acquisition on behalf of its French office fund with the purchase of the Astoria office building in Rennes from local developer Prodim in a forward funding deal. The 2,900 m[sup]2[/sup] office development is scheduled for completion in January 2008. The purchase price was ...
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PropertyEU Archive
Orco acquires Bratislava property
Orco Property Group has completed the acquisition of the City Gate building in the Slovak capital Bratislava. The property was formerly home to the National Bank of Slovakia (VUB). Orco plans to develop a modern shopping centre and exclusive restaurant on the ground floor. The second floor will be dedicated ...
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PropertyEU Archive
European RE returns at six-year high - IPD
Western European commercial real estate returns in 2006 were the highest in at least six years, as prices of shopping centers and offices rose, according to London-based Investment Property Databank (IPD). Investments in malls, offices and warehouses returned 13.3% in local currency terms, compared with 11.8% in 2005, IPD said ...
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PropertyEU Archive
Degi launches new European retail spezialfonds
Real estate investment manager Deutsche Gesellschaft fur Immobilienfonds (DEGI) has launched its first real estate spezialfonds for more than one investor. The Degi Europe Retail fund is aimed at institutional investors who want to contribute at least EUR 20 mln to the fund.
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PropertyEU Archive
Germany seeks buyer for proeprty liquidator
The German government is seeking a buyer for TLG, the former liquidator turned investor that sold thousands of eastern German properties inherited at the time of reunification of the country in 1990. Chairman Volkmar von Obstfelder of TLG told Bloomberg that the Berlin-based successor to the former Treuhand Gesellschaft will ...
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PropertyEU Archive
Rome's mayor demands action on planning gridlock
Rome's mayor Walter Veltroni has called for a new regulatory system to allow Italian cities to better adjust to the demands of modern life. Speaking
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PropertyEU Archive
Immoeast raises EUR 3 bn for south-eastern expansion
Immoeast has raised EUR 2.8 bn from a share issue to help finance a massive investment programme in southeastern Europe, and Romania in particular. The total volume of just under 278 million shares was fully placed at EUR 10.20 each during the offer period from 2-21 May. The offer was ...
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PropertyEU Archive
Cities must face up to changing role - EIRE conference hears
Cities around the world must come to terms with the need for social, cultural and economic transformation, Bill Kistler, President of Urban Land Institute Europe, told the opening conference of the Expo Italia Real Estate (EIRE) fair in Milan on Tuesday.
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PropertyEU Archive
Morgan Stanley, Pirelli eye two Italian funds
Morgan Stanley Real Estate Special Situations Fund and Italy's largest property manager Pirelli Real Estate have teamed up in a joint venture to bid almost EUR 54 mln for two Milan-listed real estate funds. Pirelli and the Morgan Stanley fund are to offer EUR 590 a share for 568,999 shares ...
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PropertyEU Archive
Unibail's shareholders back Rodamco merger
Unibail's shareholders have backed the EUR 9 bn merger between the French property giant and Rotterdam-based retail property specialist Rodamco Europe to create Europe's largest publicly traded property company. All resolutions submitted for a vote at the meeting on Monday were approved, with over 77% of the shareholders backing the ...
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PropertyEU Archive
Aldar Properties names banks for $2 bn syndicated loan
Aldar Properties, the Abu Dhabi-based developer, has appointed several banks to provide a $2.1 bn (EUR 1.6 bn) syndicated loan facility to fund its major Al-Raha Beach Infrastructure project. Morgan Stanley Bank International, Abu Dhabi Commercial bank, Dubai Islamic Bank, the National Bank of Abu Dhabi and First Gulf Bank ...
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PropertyEU Archive
Cofinimmo offers EUR 120m for Immo Croissance
Belgian real estate company Cofinimmo has announced it is to launch a EUR 120 mln bid for Immo Croissance, a Luxembourg company that has a EUR 160 mln office property portfolio in Luxembourg, Belgium and Germany. The net asset value of Immo Croissance at 31 December 2006 amounted to EUR ...
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PropertyEU Archive
KanAm buys development bank's headquarters for EUR 595m
British Land has exchanged contracts with German fund manager KanAm Grund Kapitalanlagegesellschaft for the sale of One Exchange Square on the Broadgate Estate in the City of London for £406 mln (EUR 595 mln).
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PropertyEU Archive
St Martin's completes financing for Europe's largest mall
St Martins, the London-based international property investor and developer, has completed the financing for the acquisition of Europe's largest shopping centre, Cevahir mall in Istanbul.
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News
PGGM to co-invest in US residential property
UNITED STATES - The €83bn Dutch healthcare pension fund PGGM has linked up with US property investor Behringer Harvard in a €74m co-investment deal. Under the agreement, PGGM will invest in a geographically diverse portfolio of apartme...
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News
VastNed Retail profits from boost in indirect results
NETHERLANDS - Property investor VastNed Retail returned €48.4m during the first quarter, mainly thanks to a 79% rise in indirect results, it said. The company expects the direct investment results over the whole year to be slightly higher th...
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News
CalPERS invests $490m in three real estate strategies
UNITED STATES- California Public Employees Retirement System has agreed to invest $490m ($361.7m euros) into three separate real estate strategies. This is a follow on investment for CalPERS of $190m into the Hines European Development Fund II, ha...
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News
Increased pension fund capital heads for student housing
UNITED STATES- There are increasing signs of additional pension fund capital moving into the student housing sector. A series of indicators suggest there is renewed pension fund interest in the student accommodation sector including a move by RREE...
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News
RREEF to lose top executive
UNITED STATES - RREEF is losing one of its top executives as Steve Steppe has resigned and leaves at the end of July. Steppe is now on gardening leave – a term used by the asset management industry stating he is not allowed to work for any c...
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News
San Francisco City and County to place $750m
UNITED STATES - City and County of San Francisco Employees’ Retirement System has approved an allocation of $750m ($553.7m euros) to be invested in real estate for fiscal year 2008. Assisted by real estate consultant, The Townsend Group, the...
