Latest reports – Page 3706
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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. ...
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PropertyEU Archive
Degi fund enters Italy
Degi Global Business fund has acquired the retail gallery of the Due Colonne mall in Brindisi, in Italy's southern region of Apulia, for EUR 73 mln. The mall, which opened on March 28, 2007, was sold by a consortium of Italian retail developers Coopsette and Aligros. The property is located, ...
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PropertyEU Archive
Yukos HQ sold for EUR 190m
The former head office of Russian oil company Yukos in central Moscow has been sold to Prana for a price around $240-260 mln (EUR 190 mln). The owner of the building was Yukos' subsidiary Dubininskoe. The 20-storey, 24,560-m[sup]2[/sup] building was completed in 2003 and is managed by CB Richard Ellis ...
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PropertyEU Archive
WestInvest fund buys in Luxembourg
Open real estate fund WestInvest ImmoValue has acquired the Immo Charlotte project in Luxembourg. The transaction took the form of a share deal of between EUR 55 mln and EUR 60 mln. The development was sold by Ramko, Vincent Boutens and Dexia bank Belgium. The project is located in the ...
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PropertyEU Archive
Morgan Stanley RE makes first acquisition in Poland
Morgan Stanley Real Estate's Special Situations Fund III has acquired a 25% stake in Wan, a Warsaw-based real estate development company active in the residential, office and logistics sectors. The transaction was Morgan Stanley Real Estate's first investment in Poland.
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PropertyEU Archive
UK to reduce tax relief on vacant assets
The British Government published new legislation last Friday aimed at bringing vacant properties back into use and encouraging regeneration of town centres. The new bill, expected to raise some £900 mln, will reduce the tax relief for vacant business buildings as well as introduce allowance to support the renovation of ...
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PropertyEU Archive
Vastned acquires Amsterdam office property
Vastned Offices / Industrial has acquired the 'Parijs' multi-let office building, part of the Capital Center in the south-east of Amsterdam for EUR 9 mln from Oppenheim Kapitalanlagen Gesellschaft. The property's occupancy rate stands at 70%, giving a net initial yield of 4.6%. Vastned said the net initial yield will ...
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PropertyEU Archive
Prestbury in EUR 1 bn hospital leaseback deal
Prestbury has contracted to acquire, through its Prestbury 1 Limited Partnership, a £686 mln (EUR 1 bn) freehold portfolio of 21 private hospitals across the UK from Swedish-based healthcare provider Capio. The properties will be leased back on new 30-year leases with annual fixed increases at an initial rent of ...
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PropertyEU Archive
Athens set to house 150,000 m[sup]2[/sup] of new Class A offices
A total of 150,000 m[sup]2[/sup] Class A office space is currently under construction in Athens, the new Athens Office Market Overview issued by Colliers International Hellas reported. The existing Class A office space available for immediate take-up in the Greek capital at the start of 2007 comes to 50,000 m2, ...
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PropertyEU Archive
Hansteen raises total acquisitions to EUR 285 mln
Hansteen, the London-listed investor in continental European real estate, has announced the acquisition of a further EUR 24.6 mln of commercial property in Germany and the Netherlands, bringing the total of property acquired by the company since listing on the Alternative Investment Market (AIM) in London during November 2005 to ...
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PropertyEU Archive
Carrefour to open Moscow store
French retailer Carrefour is planning to open its first store in Russia at the beginning of 2008, newspaper Kommersant reported. Carrefour's Aurelie Launay said in an interview with the daily that Carrefour has reached agreement with the owners of a new shopping mall in western Moscow that will be completed ...
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PropertyEU Archive
Macquarie Goodman to develop 45,000 m[sup]2[/sup] distribution centre
Office supply giant Corporate Express, formerly Buhrmann, has chosen Australia's Macquarie Goodman to develop a new distribution centre in Waldaubersheim in western Germany. The new 45,000 m[sup]2[/sup] property will be the largest logistics centre in the property portfolio of Corporate Express.
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PropertyEU Archive
Ediston launches new £400m property fund
Edinburgh-based Ediston Properties has launched a new property fund targeting a size of some £400 mln (EUR 584 mln). The Ediston Opportunity Fund is backed by 16 institutional clients, mainly pension funds, who have committed £250 mln for immediate investment.
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PropertyEU Archive
Rockspring buys at 5.49% yield
Rockspring Property Investment Managers has acquired the Verulam Point modern office building in St Albans, about 35 km north of London, for £17.9 mln (EUR 26 mln). The property was purchased on behalf of Rockspring Hanover Property Unit Trust from The Church Commissioners, for a 5.49% net initial yield.
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PropertyEU Archive
Lord Foster sells stake in architect firm
Lord Norman Foster, the Pritzker Prize-winning architect, has sold a minority stake in his London-based firm, Foster & Partners, to 3i Group Plc to fund the company's expansion in China, the Middle East and Russia. Foster announced the sale to Europe's largest publicly traded buyout firm last week in a ...
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PropertyEU Archive
Insurer buys Stockholm offices for EUR 50m
Health insurer AFA Sjukforsakringsaktiebolag is buying the Gangaren 15 office property in Stockholm from Swedish construction and development giant Skanska for SEK 456 mln (about EUR 50 mln). Skanska's capital gain is SEK 132 mln (EUR 14 mln). Occupancy is scheduled for October 2007. Gangaren 15 comprises 11,000 m[sup]2[/sup] of ...
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PropertyEU Archive
Spain passes bill to curb property speculation
Spain's lower house has passed a bill aimed at curbing property speculation as well as increasing transparency and sustainability in the housing sector. The legislation, which still needs to be approved by the senate, is expected to come into force by July 1, 2007. The bill was backed by all ...
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PropertyEU Archive
Nozar shops in Paris with EUR 83m buy
Investment company Pramerica has sold the quoted investment company SCI to Spanish investor Nozar for EUR 83 mln. The company owns some office and retail units in the ninth arrondissement of Paris. The property, covering some 8,500 m[sup]2[/sup] of space, comprises the former head office of the Sudameris and Intesa ...
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PropertyEU Archive
Fabege distributes Klovern holding
Fabege, one of Sweden's largest listed property companies, has distributed 47 million shares in Swedish peer Klovern to Fabege's shareholders. Following the redemption offer, Fabege will not hold any shares in Klovern. Fabege obtained the shares in November 2006 as part payment for 46 properties sold to Klovern.
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PropertyEU Archive
Halverton makes acquisitions in Germany and Netherlands
Halverton Real Estate Investment Management has acquired an industrial complex in Paderborn, Germany on behalf of its HBI fund for EUR 28 mln. The net initial yield comes to 8.9%.
