Latest reports – Page 3705
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PropertyEU Archive
Dublin rejects plans for residential skyscraper
Developer Sean Dunne's plans to develop a 32-storey tower in the south of Dublin have been blocked by the city council, the Irish Independent newspaper has reported. The City Council said that new developments in the district of Ballsbridge can't pass the eigth-storey threshold.
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PropertyEU Archive
Sponda acquires 20 hectares in Moscow
Finnish real estate investment company Sponda has purchased a 20-hectare land site in the Moscow region from Llc Bamo-Land for roughly EUR 6 mln. Sponda is planning to develop a 75,000 m[sup]2[/sup] A-class logistics facility on the site, which has already been granted planning permission. Construction is set to start ...
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PropertyEU Archive
Kenmore spends EUR 47m on industrial properties
Kenmore's European Industrial Fund (KEIF) has bought three industrial portfolios, with a total of 55,000 m[sup]2[/sup] of lettable space, for EUR 47 mln. The closed-end investment company acquired a portfolio of six fully-let semi-industrial assets in the Helsinki region from Machinery OY Finland for just over EUR 22 mln. The ...
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PropertyEU Archive
Tremon to launch IPO
Spanish real estate company Tremon intends to launch an Initial Public Offering (IPO) in Madrid next month. The group, valued at some EUR 2.8 bn, will list 25% of the company in June and an additional 10% in the following six months, according to Spanish newspaper Bolsa Cinco.
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PropertyEU Archive
Wichford enters Germany with EUR 57m buy
British property investment company Wichford has made its debut in continental Europe by the acquisition of 95% of a courthouse complex in Halle, Germany for EUR 57 mln. Completed in 1997, the property generates a rental income per annum of EUR 3.26 mln. The net initial yield comes to 5.43%.
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News
CalSTRS and Fillmore Capital book into hotels
UNITED STATES - California State Teachers Retirement System and Fillmore Capital Partners have invested capital in a deal which involves the acquisition of eight US luxury resort hotels by Morgan Stanley Real Estate.
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News
Pramerica funds new development company
UNITED STATES - Pramerica Real Estate Investors has invested capital in a venture designed to jumpstart a new retail development company. Through a division called Interra Development Partners, Pramerica contributed 95% or $47.5m (€69.4m) of...
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News
UBS buys into Ontario teachers’ power
CANADA - UBS’s infrastructure subsidiary has acquired 50% of an electricity firm co-owned by the €70.4bn Ontario Teachers’ Pension Plan (OTTP) for an undisclosed figure. The acquisition of Northern Star Generation from AIG Highs...
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News
DRA to buy public office REIT building asset
UNITED STATES - DRA Advisors has signed an agreement to acquire a majority interest in the office building assets held by Colonial Properties Trust. The deal is projected to close sometime during the second quarter but should see DRA purchase the ...
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News
Strathclyde seeks property valuer
UK – The £9.6bn (€14.1bn) The Strathclyde pension fund for Glasgow County Council is looking for a new independent property portfolio valuer. As its five-year contract with the current service provider Collier is coming to an end...
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News
Retail is most profitable – Wereldhave
GLOBAL - With a net rental income of 16.3% and 15.7% respectively, retail and offices were the most profitable real estate asset classes, according to property investor Wereldhave. Industrial and residential buildings returned 4.1% and 0.6% respec...
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News
Finnish market ‘remains attractive’ as retail hits the block
FINLAND - The Finnish real estate market remains a good investment opportunity, according to investment management firm Doughty Hanson which has just sold three shopping centres in Helsinki and Oulu. The assets, now sold to ING Real Estate for &#...
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News
European boom to reduce in 2008
GLOBAL - Real estate markets are currently said to be in "excellent shape" and will remain moderately positive for 2007 before falling off next year, according to a report published last week by Swedish bank SEB. Despite strong investo...
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News
Hedging strategies timed for uncertainty
GLOBAL - Pension funds are exploring risk-hedging property derivatives but hesitate when it comes to allocating to them, according to the manager of an alternative real estate fund launched in recent weeks. The relative-value Iceberg Alternative ...
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News
Zlote Tarasy keeps Rodamco’s profits down
Despite the complex’ opening in February, property investor Rodamco has not yet been able to benefit from its agreed interest in the retail part of Zlote Tarasy Centre in Warsaw. The firm is still discussing the "formalities of the fut...
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News
PPSERS to invest $600m
UNITED STATES - Pennsylvania Public School Employees Retirement System has approved commitments of up to $600m ($440.6m euros) into two commingled funds. One of the commitments involved investing capital into the Beacon Capital Strategic Partners ...
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News
DEGI sells on Eurotower
GERMANY - DEGI, a German provider of open-ended real estate funds, said one of its funds had sold near €3bn worth of properties in Germany, including Eurotower, the current seat of the European Central Bank (ECB) in Frankfurt. DEGI said the ...
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News
Quebec fund sells high but has lower expectations
CANADA - A New York-based property firm, which is part-owned by Caisse de depot et placement du Quebec, has sold a prime Orlando office block to Eola Capital for a reported CA$90.6m (€60.3m) – a record price for the city. Seller Praed...
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News
AEW beats its commingled target
UNITED STATES - AEW Capital Management has raised $651m (€480.5m) for its latest commingled fund, AEW Value Investors II - significantly more than its original target of raise $500m. Around 40% of the investors in Value Investors II were rep...
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PropertyEU Archive
Hufvudstaden buys Stockholm property
Real estate company Hufvudstaden has acquired the Rännilen 15 property at Smalandsgatan 12 in central Stockholm from Handelsbanken Liv. The purchase price is SEK 312.5 mln (EUR 46 mln). The rentable floor space comprises 3,400 m2, of which 2,200 m[sup]2[/sup] office space, 650 m[sup]2[/sup] retail space and 550 m[sup]2[/sup] storage. ...
