Latest reports – Page 3703
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News
Wisconsin plans global REIT manager search
UNITED STATES- Wisconsin State Investment Board is now planning a new REIT manager search to invest in global securities with the support of its real estate consultant Courtland Partners. The pension fund believes now is a good time to explore a g...
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News
Khan quits Adimmo
EUROPE - Portfolio manager Aqil Khan has left Basel-based real estate firm Adimmo after three years with the firm. During that time, he was involved in building up the firm’s indirect investment capability. Khan said he would continue hi...
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News
Union Investment offloads ‘heavyweight’ German office
GERMANY - Union Investment Real Estate – formerly DIFA – has sold a substantial, multi-city German office portfolio to Morgan Stanley and IVG for €2.56bn. The portfolio comprises 53 commercial properties and a separate office de...
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News
Ontario Teachers acquire infrastructure in Chile and UK
CANADA - The Ontario Teachers' Pension Plan (OTPP) last week made its first infrastructure investment in Latin America with the acquisition of stakes in two Chilean water companies. Although the fund did not disclose the value of the transaction...
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News
European property continues the climb
EUROPE – Property performances throughout Europe saw another year of growth in 2006, the third year in a row according to the Pan-European property index calculated by Investment Property Databank (IPD). The index, covering property asse...
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PropertyEU Archive
Kenmore's industrial portfolio achieves 7.3% yield
Kenmore European Industrial Fund (KEIF) has announced a net asset value of 110 pence per share by the end of March, an uplift of 15.5% since it listed in London on September 2006. The company's net asset value incorporates an external valuation of the portfolio showed an increase of 2.9% ...
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PropertyEU Archive
Summit takes controlling stake in Deutsche Real Estate
Summit Germany, a UK-based property investor, has bought the 76% stake held by the Goldman Sachs Group in Deutsche Real Estate for EUR 40 mln. Bloomberg reported that Summit agreed to buy the stake at EUR 2.61 a share last Friday, a 19% discount to the closing share price of ...
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PropertyEU Archive
Boetzelen to seek listing in Frankfurt
Boetzelen Real Estate, a German investor in retail properties, has announced it is preparing for its initial public offering. It intends to seek a listing on the official market segement of Frankfurt Stock Exchange before the end of the half half of 2007. The IPO proceeds will be used primarily ...
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PropertyEU Archive
GE Real Estate acquires Czech retail assets
GE Real Estate Central & Eastern Europe has entered into a forward funding agreement with Euro Mall Holdings, a subsidiary of TK Development, for the development of a shopping centre in Kolin and a retail park in Liberec, the Czech Republic for approximately EUR 44 mln. The shopping centre in ...
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PropertyEU Archive
Milan hosts 3rd Expo Italia Real Estate fair
The third edition of Expo Italia Real Estate (EIRE) begins today in the new fair complex near Milan and is expected to attract 15,000 participants and 350 exhibitors from 11 different countries. From 22 to 25 May, the curvilinear forms of Massimiliano Fuksas’ 35,000 m[sup]2[/sup] exhibition centre will be home ...
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PropertyEU Archive
Hammerson buys London offices for EUR 104m
UK property company Hammerson has acquired the freehold interest in an eight-storey office building adjacent to Victoria Station in London for £71.4 mln (EUR 104 mln) from a private client of DTZ Debenham Tie Leung. Completed in 1985, Stockley House is a 6,700 m[sup]2[/sup] eight-storey office that is fully ...
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PropertyEU Archive
Altarea in talks to buy Cogedim for EUR 650m
Altarea, a French real estate investment trust, has confirmed it is in exclusive talks to acquire Paris-based developer Cogedim for as much as EUR 650 mln, Bloomberg reported. In an emailed statement, Altarea, also headquartered in Paris, said it is negotiating to buy Cogedim from a group of shareholders led ...
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PropertyEU Archive
Morgan Stanley, IVG buy portfolios for EUR 2.5 bn
Morgan Stanley Real Estate and IVG Immobilien have agreed to buy 53 properties and the Frankfurter Welle office development for a total of EUR 2.5 bn from Hamburg-based fund manager Union Investment Real Estate.
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PropertyEU Archive
BVIC sells Athens office development
Babis Vovos International Construction (BVIC) has sold a 12,000 m[sup]2[/sup] office building development in downtown Athens to German real estate company KanAm Grund for just over EUR 47 mln. The property is part of a three-building office complex under construction on an 8,000 m[sup]2[/sup] plot.
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PropertyEU Archive
XXI Century places Eurobond issue
Ukrainian real estate developer XXI Century Investments has placed its debut $175 mln Eurobond issue, with a 10% percent coupon paid semi-annually. Citing a company press release, Bloomberg reported that the Eurobond placement will finance the development and construction of the company's existing project portfolio, acquisition of property in Kyiv ...
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PropertyEU Archive
Unibail makes official offer for Rodamco
Unibail, France's largest real estate investment trust, has tabled its EUR 9.3 bn offer to acquire Dutch rival Rodamco Europe to create Europe's largest publicly traded property company. Bloomberg reported that the Paris-based company bid just over half of a Unibail share for each Rodamco share in an offer that ...
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PropertyEU Archive
Aedes gets authorisation for EUR 1.3 bn fund package
Banca d'Italia has granted approval to property investor and asset manager Aedes for five opportunity real estate funds with a total equity value of EUR 1.3 bn. The authorisation has led to the launch of Aedes Value Added, an asset management company owned by Aedes, which will run the opportunity ...
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PropertyEU Archive
King Sturge in shape for European growth
King Sturge continues to strengthen its European presence with the creation of an International Limited Liability Partnership (LLP) and the addition to the King Sturge Group of Hettrich Chartered Surveyors, of Berlin, Germany.
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PropertyEU Archive
Corio posts 4.5% like-for-like net rental growth
Corio registered a 4.5% like-for-like net rental growth in 1Q 2007, the Dutch commercial property company said. This compares with a much higher figure of 7.2% issued by Rodamco for the first quarter of the year. Corio said tha net rental income growth was offset by the increase of financing ...
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PropertyEU Archive
MMI shops in Ile-de-France
French property company MMI Investissements has acquired three different types of property assets in the Ile-de-France region. The company has bought a majority stake in a 1,085 m[sup]2[/sup] development project in Moussy le Neuf, Seine-et-Marne, at a yield of 9.65%. Gemofis acted as advisor for the buyer.
