Latest reports – Page 3717
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News
San Bernardino backs two commingled funds
REAL ESTATE - San Bernardino County Employees’ Retirement Association has made commitments to real estate commingled funds totaling $40m (€29.4m). One of these commitments was a $20m allocation to Beacon Capital Strategic Partners V....
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News
Dutch Butchers asked to chop real estate
REAL ESTATE – The Dutch €1.1bn industrywide butchers’ pension fund has clashed with pension regulator De Nederlandsche Bank (DNB) over demands to cut the scheme’s real estate holdings. The fund has long allocated a large pa...
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News
Islamic property fund acquires UK portfolio
REAL ESTATE - The European Islamic Investment Bank plc (EIIB)’s Pan-European Islamic Real Estate Fund last week announced that it has acquired five commercial properties in a £58.8m (€86.7m) from a fund sponsored by Arab Bank Interna...
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News
CalSTRS buys Chicago apartments for $470m
REAL ESTATE - California State Teachers Retirement System and Waterton Associates have acquired the 2,346-unit Presidential Towers apartment complex in Chicago for around $470m (€345.4m). This transaction represents one of the largest sing...
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News
Denmark's KP enters German real estate
REAL ESTATE – Danish pension fund KP International A-S has made its inaugural investment in German real estate, paying a bit more than €30m for an office building in Düsseldorf. The 16-story building is fully rented to Sparda Bank...
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News
Townsend axed by Los Angeles City scheme
REAL ESTATE - The $10.7bn (€7.8bn) Los Angeles City Employees’ Retirement System has appointed Courtland Partners as its new real estate consultant, resulting in a loss for incumbent consultant The Townsend Group. The fund's investment...
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PropertyEU Archive
Property stocks offer good diversification - EPRA
Property stocks offer good diversification benefits across a range of major investment asset classes, but appear to be particularly interesting to investors in government bonds, according to a major correlation study commissioned by Amsterdam-based European Public Real Estate Association (EPRA). 'Correlation, or to be more precise lack of correlation, lies ...
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PropertyEU Archive
Fonciere Inea buys seven French assets
Fonciere Inea has acquired seven buildings mainly for office use for about EUR 21 mln, representing a yield of 7.4%. The properties cover a combined area of 10,980 m[sup]2[/sup].
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PropertyEU Archive
Neinver to develop EUR 300m industrial park
Neinver has acquired a 210,000 m[sup]2[/sup] plot of land with 140,000 m[sup]2[/sup] of building rights in Madrid's Vicalvaro district. The company is planning to develop an industrial park on the site with an investment of EUR 300mln. This is the last plot within the city of Madrid which is to ...
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PropertyEU Archive
Eurohypo closes latest deal in EUR 8.7 bn CMBS programme
Frankfurt-based real estate bank Eurohypo has issued EUR 550 mln of commercial mortgage backed securities (CMBS). The transaction is Eurohypo's 3rd under its programme Opera Germany and the 15th under the overall Opera programme, which has a total issuance volume of EUR 8.7 bn.
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PropertyEU Archive
Colonia Real Estate to raise EUR 200m
Colonia Real Estate said it will raise about EUR 200 mln through a share issue. The details of the capital increase will be determined and published shortly prior to the transaction. The capital increase is set to be completed in the first half of 2007, the company said.
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PropertyEU Archive
Fimit buys Forte Village for EUR 218m
Capitalia's Fondi Immobiliari Italiani (Fimit) is acquiring Europe's largest holiday resort complex - the Forte Village - in Santa Margherita di Pula near Cagliari, Italy, for EUR 218 mln. The two companies agreed in February on the deal, whose amount had not been disclosed. Global investment bank Lehman Brothers is ...
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PropertyEU Archive
Healthy Q1 take-up squeezes City supply
The City of London is experiencing its lowest level of office supply since 2001, according to the latest Central London Market report issued by international advisor Jones Lang LaSalle. The opening three months of 2007 saw almost 92,903 m[sup]2[/sup] of existing space taken off the market, with a further 167,225 ...
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PropertyEU Archive
Danish investor buys Ludwig-Erhard-Center
Danish pension fund KP International has entered the German property market with the purchase of the Ludwig-Erhard-Center in Dusseldorf city centre from an unnamed Dutch company for a little over EUR 30 mln. The Ludwig-Erhard-Center was completed in 1992 and offers around 11,500 m[sup]2[/sup] of net space spread over 16 ...
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PropertyEU Archive
XXI Century acquires Ukrainian mall
XXI Century Investments has acquired a 70% stake in a retail and entertainment development in Crimea, southern Ukraine. The developer is planning to develop a 33,750 m[sup]2[/sup] shopping centres on the 11.3-acre site. Construction is expected to begin in early 2008 with completion scheduled for 2009. This is the first ...
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PropertyEU Archive
Carrefour portfolio's valuation of EUR 20bn is 'cautious'
Carrefour was being cautious when it valued its property portfolio at EUR15bn-EUR20bn, ceo Jose Luis Duran told the Financial Times on Monday. The statement comes on the back of Thomas Barrack's claim that the French retailer has assets worth more than EUR30 bn. The founder of Colony Capital said that ...
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PropertyEU Archive
Two Portuguese builders to merge
Two Portuguese builders are set to create one of the four biggest construction groups in the country. Grupo Lena and Construtora Abrantina are planning to merge their activities in a conglomerate with sales estimated at about EUR 600 mln in 2007, news agency Thomson Financial reported, citing weekly Expresso. Officials ...
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PropertyEU Archive
Dunedin Property sells The Stones for £35m
Dunedin Property has sold The Stones at South Gyle Business Park, Edinburgh, for £35.54 mln (EUR 52 mln). Jones Lang LaSalle (JLL) acted as advisor for the seller. The trio of buildings, which are occupied by the Royal Bank of Scotland, have been purchased by Premier Diversified Property Fund at ...
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PropertyEU Archive
Africa Israel buys Budapest plot for EUR 105m
Africa-Israel's European unit has signed a memorandum of understanding to buy a 81-acre plot of land in Budapest for EUR 105 mln. The company, controlled by billionaire Lev Leviev, is planning to build a 506,000 m[sup]2[/sup] multi-use project on the site, Africa Israel Properties stated.
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PropertyEU Archive
Oaktree to sell German properties as REIT
Oaktree is planning to sell its German property holdings as a real estate investment trust (REITs) this year, daily Financial Times Deutschland has reported. The company is currently analyzing the new German law on the investment vehicles to decide on the share sale. Germany introduced its own legislation on real ...
