Latest reports – Page 3707
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PropertyEU Archive
CLS takes 27% stake in Catena
Property investment company CLS has acquired almost 28% of the share capital of Catena for EUR 40 mln. The acquisition of the 3 million shares makes London-listed CLS the largest shareholder in Catena. The transaction sum is being paid partly in cash and partly through financed debt, Bloomberg reported.
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PropertyEU Archive
PGGM commissions new EUR 54m HQ from Ballast Nedam
Dutch civil service pension fund PGGM has commissioned Dutch construction company Ballast Nedam to build its new EUR 54 mln head office in Zeist. The new building, due for completion in 2010, will have 50,000 m[sup]2[/sup] of office space and parking spaces for 1,200 cars.
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PropertyEU Archive
Beni Stabili Q1 profits down 30%
Italian real estate company Beni Stabili reported on Friday that its first-quarter profit fell by 30% due to higher expenses and taxes. Net income dropped to EUR 7 mln from EUR 10 mln a year earlier. The announcement coincided with the news that Beni Stabili shareholders have approved Fonciere des ...
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PropertyEU Archive
Brixton fully lets Southall development
UK property investor and developer Brixton has announced that it has fully let its 5,500 m[sup]2[/sup] scheme at Great Western Industrial Estate, Southall. The development, comprising six units ranging from 300 m[sup]2[/sup] to 3,700 m[sup]2[/sup].
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PropertyEU Archive
Blackrock Land jv invests EUR 42m in Brussels office
Dublin-based Blackrock International Land has entered into a 50-50 joint venture with Belgium's EuroCapital Property to acquire a new office building in Brussels for a total outlay of almost EUR 42 mln. The projected initial yield is expected to exceed 6.2%.
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PropertyEU Archive
Hendeson agrees pre-letting of 201 Bishopsgate
Henderson Group plc and British Land have exchanged contracts for a pre-letting of 11,500 m[sup]2[/sup] at British Land's 201 Bishopsgate development in the City of London. Henderson will be entering into new 20.5 year leases with an option to extend for a further five years.
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PropertyEU Archive
Sardinia levies luxury tax on real estate
Italy's Sardinia island has introduced a luxury tax for non-residents who own property in the island or dock their yachts on Sardinia's coasts, Italian daily Corriere della Sera reported. The region's centre-left government, led by Renato Soru, passed legislation imposing a package of taxes on second homes, private yachts, aircraft ...
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PropertyEU Archive
HCI buys 2 Dutch office buildings for EUR 65m
German closed-end property manager HCI has bought two new office buildings in the Paperndorp office area of the Dutch city of Utrecht for a total of EUR 65 mln. HCI bought the 7,000 m[sup]2[/sup] Kroonstaete building from Dutch developer Kroon and the 17,000 m[sup]2[/sup] KPN building from Dutch property firm ...
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PropertyEU Archive
Polish warehouse market grows 33% in record Q1
The Polish warehouse market set a new record in the first quarter of this year, with a total of 270,000 m[sup]2[/sup] of new warehouse space delivered, compared with 500,000 m[sup]2[/sup] delivered in the whole of 2006, according to property consultant Cushman & Wakefield.
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PropertyEU Archive
Irish investors buy Amsterdam's Byzantium complex
A group of Irish investors, advised by real estate consultant Cushman & Wakefield, have acquired Amsterdam's Byzantium office and shopping complex from Warburg-Henderson for an undisclosed sum. The 4,699 m[sup]2[/sup] complex is located in the centre of the Dutch capital and is fully let, Cushman & Wakefield said.
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PropertyEU Archive
JLL warns on UK rate hike
Property advisor Jones Lang LaSalle has cautioned that Thursday's interest rate increase in the UK will lead to a sharper economic slowdown than expected in 2008 and with returns ‘softening more quickly in the present cycle'.
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PropertyEU Archive
Doughty Hanson sells 3 Finnish shopping centres for EUR 186m
UK property fund manager Doughty Hanson has sold three shopping centres in Finland to Dutch property investor ING Real Estate Investment Management for EUR 186 mln.
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PropertyEU Archive
Rugby Estates announces REIT listing plan
UK property company Rugby Estates has announced that its new company, Rugby Estates Investment Trust (REIT), intends to raise about £47 mln (almost EUR 70 mln) through a listing on London Stock Exchange's main market. The company will convert to real estate investment trust (REIT) status within 12 months. Rugby ...
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PropertyEU Archive
Aberdeen property fund acquires Dutch wholesale market
Aberdeen property investors said it has acquired a B2B wholesale market property in the Dutch town of Venlo from Dutch firm TCN Property Projects. The property will be included in the firm’s European balanced property fund, which has total assets of EUR 191 mln. The 20,000 m[sup]2[/sup] property is occupied ...
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PropertyEU Archive
UK real estate lending debt climbs to EUR 245 bn
Bank lending to real estate investors in the UK shows no sign of abating, according to figures released by the Bank of England (BoE). The total amount outstanding to real estate increased by £6.4 bn (EUR 9.4 bn) in the first quarter of 2007.
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PropertyEU Archive
Metrovacesa sees Q1 profits triple
Metrovacesa said on Thursday that its net profit for the fist quarter of 2007 rose to EUR 448 mln, compared with EUR 145 mln a year earlier. Its revenues climbed over 80% to EUR 511 mln from EUR 280 mln. IN late April, the Spanish property giant agreed to acquire ...
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PropertyEU Archive
Rodamco Europe buys in Austria, sees Unibail public offer within 2 weeks
Dutch property investor Rodamco Europe has acquired a 50% stake in the 22,700 m[sup]2[/sup] shopping centre Sudpark in Klagenfurt Austria for around EUR 34.5 mln. Anchors tenants include department store chains Hennes & Mauritz and C&A, plus supermarket operator Merkur. Rodamco will take over the management of the centre, the ...
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PropertyEU Archive
DIC buys Hansainvest German RE portfolio for EUR 465m
German property investment firm Deutsche Immobilien Chancen (DIC) said it had acquired a portfolio of 54 properties from German peer Hansainvest for a total of EUR 465 mln. The portfolio, with a total floor space of 351,000 m2, comprises 65% office space, 15% retail and 15% logistics properties.
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PropertyEU Archive
Standard Life property fund breaks £2 bn barrier
Standard Life Investments, one of the largest property fund managers in Europe, has announced that its Standard Life's Life Property Fund has broken through the £2 bn (EUR 2.9 bn) barrier in funds under management.
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PropertyEU Archive
Meinl EL signs contract for EUR 300m Russian shopping centre
Austria-based Meinl European Land (MEL) has signed a contract to buy a EUR 300 mln shopping centre in the Moscow suburb Pushkino. The 250,000 m[sup]2[/sup] shopping centre, combined with an entertainment centre, is due for completion in 2009. Metro Group is expected to be an anchor tenant.
