Latest reports – Page 3711
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PropertyEU Archive
Buy-to-let surge 'danger to urban regeneration'
The growing buy-to-let trend in the residential sector is endangering attempts to rebuild Britain's city centres, Sunderland Arc ceo Tom Macartney claimed in the Financial Times. Sunderland Arc is a public-private group set up to regenerate run-down inner city areas.
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PropertyEU Archive
Investors spurn secondary assets
Jones Lang LaSalle's Q1 property Style Index has borne out the forecast of lower yields in 2007. Total property returns in the first quarter dipped to 2.3%, the lowest level since the second quarter of 2003. The index revealed a major gap in the performance of high-yielding secondary (value) properties ...
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PropertyEU Archive
Ogmios Centras develops Vilnius centre
Lithuanian real estate company Ogmios Centras is to develop a new 30,000 m[sup]2[/sup] commercial and industrial centre in the Lithuanian capital of Vilnius. The investment value will come to more than EUR 25 mln. Completion is expected in the summer of 2008.
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PropertyEU Archive
AZL Vastgoed Kantoren sells EUR 290m portfolio
Dutch company AZL Vastgoed Kantoren is selling its entire property portfolio to a consortium of funds managed and advised by Axa Reim for EUR 290 mln, excluding costs. The portfolio includes 58 office properties located across the Netherlands. The assets are expected to generate an annual net income of EUR ...
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PropertyEU Archive
Allianz signals EUR 3.5bn property sale
Allianz intends to sell EUR 3.5 bn of its real estate assets, about half of its German property portfolio, to fund acquisitions in property markets abroad, Dirk Grosse-Wördemann, head of Allianz's property business, told business newspaper the Financial Times. Europe's biggest insurance company is planning to reinvest the capital in ...
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PropertyEU Archive
Pirelli RE boosts foreign expansion target
Pirelli Real Estate sees its foreign operations accounting for 30-35% in 2008, ceo Carlo Puri Negri said during an interview with Italian daily Il Sole 24 Ore. In the coming year, this figure will grow to 20-25% from 14%, he added. Italy’s leading property company is seeking to expand Central ...
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PropertyEU Archive
Warner Estate buys two London office buildings for £47m
UK property firm Warner Estate said it had bought 2 America Square, EC3 and 16 Upper Woburn Place, WC1, for a total of £47 mln (EUR 68 mln). The company said it bought 2 America Square for £25 mln, reflecting a net initial yield of 5.91%, from London and Regional ...
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PropertyEU Archive
'New Italian REIT will tackle lack of transparency'
As pension funds are set to invest a forecast EUR 24 bn or more annually in Europe's real estate market over the next few years, the impending launch of Italy's Societa per Investimento Immobiliare Quotate' (SIIQ) - the Italian version of a real estate investment trust (REIT) - has been ...
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PropertyEU Archive
Realia posts revenues up 21%
Realia, a Spanish property company controlled by construction group FCC and bank Caja Madrid, said revenues came to EUR 817.4 mln in 2006, a 21% increase year-on-year. Earnings before interest, taxes, depreciation and amortization (EBIDTA) rose 15% to EUR 289.4 mln. Profit before taxes increased 12% to EUR 176 mln.
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PropertyEU Archive
Sonae Sierra enters the Romanian market
Sonae Sierra is buying the River Plaza mall in its first acquisition in the Romania market for EUR 42 mln. The shopping centre, opened in November 2006, is located in Ramnicu Valcea, 170 km from Bucharest. The mall has 12.358 m[sup]2[/sup] of GLA (gross lettable area), and features 90 shops, ...
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PropertyEU Archive
CB Richard Ellis posts EUR 881m revenue for Q1 2007
CB Richard Ellis Group reported revenue of $1.2 bn (EUR 881 mln) for the first quarter of 2007, an increase of 61.6% over the first quarter of 2006. Revenue for the EMEA (Europe, Middle East, Africa) region, mainly consisting of operations in Europe, increased 36.8% from $164.7 mln in the ...
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PropertyEU Archive
GE buys City of London Property
The UK arm of GE Real Estate has made its first foray into the City of London’s insurance district, with the £15.75 mln (EUR 23 mln) acquisition of 10 Lloyd’s Avenue from Liverpool Victoria Friendly Society. Walbrook Land Ltd will act as asset manager. The eight-storey, 24,000 square-foot building is ...
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PropertyEU Archive
JLL launches its 3rd largest office worldwide at Canary Wharf
Global real estate advisor Jones Lang LaSalle has launched its East London Business with the official opening of its new office at 25 Bank Street, Canary Wharf. JLL, the first major real estate consultancy to be based in the Docklands, occupies two floors housing 400 staff, making this its third ...
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PropertyEU Archive
SEB ImmoInvest buys EUR 237m German portfolio
SEB Immobilien-Investment has acquired a portfolio of six German office and retail properties comprising total surface area of about 78,300 m[sup]2[/sup] for its mutual fund SEB ImmoInvest from Züblin Development. The total investment volume is around EUR 237 mln, including EUR 13 mln transaction costs. Züblin, which is part of ...
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PropertyEU Archive
CMC Capital buys Berlin shopping centre
Crowley & McCarthy Chartered Accountants' property investment subsidiary CMC Capital has bought the A10 shopping centre in Berlin for EUR 245 mln. The mall was purchased on behalf of CMC Capital's property syndicate investors in a joint venture with a UK private investment firm. The acquisition represents an initial yield ...
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PropertyEU Archive
EPRA/NAREIT Global Index fell 1.7% in April
The FTSE EPRA/NAREIT Global Real Estate Index fell 1.7% for the third consecutive month in April. Europe was the heaviest hit, declining 3.5%, whilst the Atlantic North America region was down 2.1%. The UK dropped 4.6% and France 5.1%. Year-on-year the UK is in the red (-8.3%). France remains on ...
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PropertyEU Archive
Student digs fund on course for 1 bn investment target
The Unite group has announced the successful conclusion of the second closing of the Unite Student Accommodation Fund (USAF). Unite, the UK's largest commercial provider of student accommodation, said it had secured the maximum level of third party equity, ensuring the fund is fully capitalised to reach its £1 bn ...
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PropertyEU Archive
Immoeast to raise EUR 3 bn through share issue
Vienna-listed property company Immoeast is planning to raise about EUR 3 bn through the issue of up to 277.9 million new shares. This will be the biggest capital increase in Immoeast's company history as well as the biggest placement of an Austrian company ever. After the placement, the market capitalisation ...
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PropertyEU Archive
Hypo RE moves to Lehel Carre
Hypo Real Estate Group has decided to combine its five offices in the city of Munich and has signed a tenancy agreement for the Lehel Carré office complex owned by Versicherungskammer Bayern, Germany's largest public sector insurer. The building complex, located in the central Lehel district of Munich is currently ...
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PropertyEU Archive
Scandic hotel deal gets green light
EU antitrust watchdog has given the go-ahead to Hilton Hotels' sale of its Scandinavian hotel chain Scandic to Swedish private equity fund EQT. Hilton Hotels announced in March that it would sell Scandic, the biggest hotel operator in Scandinavia, for EUR 833 mln.
