Latest reports – Page 3718
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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
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
P&V buys Belgian holiday group for EUR 150m
Pierre & Vacances (P&V) is purchasing the Sunparks group, which operates four holiday villages in Belgium, for EUR 150 mln and debt. The move is part of P&V's strategy to expand its holiday village network in the country. P&V plans to sell and lease back the Sunparks sites before the ...
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PropertyEU Archive
Astroc recovers amid lingering worries for Spanish property market
A steep decline in Astroc Mediterraneo's share price last week has added fuel to concerns that Spain's 10-year real estate boom may be coming to an end. Astroc fell 43% last Wednesday, wiping EUR 2.3 bn from its market value, in the wake of disappointed with the company's figures for ...
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PropertyEU Archive
Allreal to develop EUR 227m project
Real estate group Allreal has bought a 56,000 m[sup]2[/sup] plot of land in Wallisellen district in the Swiss canton of Zurich for an undisclosed amount. The land was sold by Plazza Immobilien, the real estate arm of Zurich-based Conzzeta Holding. Allreal said it is planning to invest EUR 227 mln ...
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PropertyEU Archive
Dutch bank closes EUR 500m Pan-European CMBS
Dutch merchant bank NIBC has closed a EUR 493.6 mln multi-borrower Commercial Mortgage Backed Securities (CMBS) transaction. The transaction named Mesdag (Charlie) is the fifth CMBS arranged by NIBC, and the third from its Mesdag conduit programme.
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PropertyEU Archive
Deutsche EuroShop doubles profit in 2006
Deutsche EuroShop has announced record earnings for 2006, with consolidated profit increasing 106% to EUR 100.3 mln from EUR 48.7 mln in 2005. Germany's only public company that invests solely in shopping centers in prime locations forecast that its revenues in financial year 2007 will remain on a level with ...
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PropertyEU Archive
British Land agrees City pre-letting with law firm
British Land has agreed non-binding heads of terms with law firm Charles Russell for the pre-letting of the majority of the Ludgate West development at Fleet Street in the City of London. Of the total of 12,000 m[sup]2[/sup] of leasable space, some 8,175 m2, or 68% of the total, arranged ...
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PropertyEU Archive
Commerz Grundbesitz buys Carrefour warehouse in Belgium
German fund Commerz Grundbesitz-Spezialfondsgesellschaft (CGS) has signed a sales contract to acquire a logistics property in Belgium for approximately EUR 54 mln. The property comprises 11 warehouses with about 75,000 m[sup]2[/sup] of logistics space near Brussels, and is fully let to French retail group Carrefour. The warehouses were built between ...
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PropertyEU Archive
Hines acquires office property in London
International real estate firm Hines has acquired Chichester House in London from Bishopswood Properties, a wholly owned subsidiary of GE Real Estate. The eight-storey, 6,503 m[sup]2[/sup] office and retail building is located in High Holborn district in central London. The property was purchased by Hines European Development Fund II (HEDF ...
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PropertyEU Archive
Spain's Prasa to invest EUR 300m in Warsaw
Spain's Grupo Prasa is planning to invest as much as EUR 300 mln in a project in Warsaw. The company submitted plans to local authorities to develop on a 5-hectare plot of land in downtown Warsaw on Thursday. Prasa doesn't have a building permit yet.
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PropertyEU Archive
Pension fund to tender Rodamco shares
Dutch pension fund PGGM has committed itself to vote in favour of the merger between French property company Unibail and Rotterdam-based Rodamco Europe. PGGM is the largest shareholder in Rodamco with about 25% of the shares. It has agreed to tender the shares into the intended exchange offer.
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PropertyEU Archive
Monteverde acquires London offices for EUR 100m
Spanish real estate company Monteverde has acquired an office building in London for about EUR 100 mln. The building at 6 Bevis Marks in central London is home to the world's ninth largest insurance broker Alexander Forbes, Spanish newspaper Cinco Dias reported. Developed in 1983 and refurbished in 1990, the ...
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PropertyEU Archive
Buchanan Galleries set for major extension
Buchanan Partnership, a joint venture between Henderson Global Investors and Land Securities, has submitted planning application to Glasgow local authority to extend the existing Buchanan Galleries mall with an additional 65,000 m[sup]2[/sup] of retail space.
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PropertyEU Archive
Vib Vermogen buys German mall
Vib Vermogen has acquired a shopping mall in Gersthofen near Augsburg in south-central Germany for EUR 14.1 mln. The property, which is fully let, will generate an annual rental income of about EUR 1 mln, the company said in a press release. This corresponds to a rental yield of 7.1% ...
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PropertyEU Archive
Sacyr rules out making cash offer for Eiffage
Spain's Sacyr Vallehermoso is not planning to launch a cash offer for Eiffage, chairman Luis del Rivero told French business radio BFM on Friday. Rivero said that the company's all-share bid is 'the best offer for everyone'. The statement comes in the wake of rumours that Eiffage was looking for ...
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PropertyEU Archive
London's old stock market gets facelift
Hypo Real Estate Bank and HSH Nordbank are providing £150 mln (EUR 220 mln) in construction financing to refurbish the office tower that housed the former London Stock Exchange. The 29,357 m[sup]2[/sup] property, located at 125 Old Broad St in London, will be redeveloped by a joint venture of GE ...
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PropertyEU Archive
Sacyr launches EUR 6.5 bn full bid for Eiffage
Spain's Sacyr Vallehermoso, Eiffage's majority shareholder with a 33% stake, has unveiled plans to launch an all-share offer of EUR 6.5 bn for the remaining 67% stake in the French public works and transport concessions group, a day after it was denied seats on the company's board. Sacyr is offering ...
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PropertyEU Archive
German investment market heading for new record
A total of EUR 12.13 bn was invested in commercial property in Germany during the first quarter of 2007, which points to a new record likely being reached in the full year. The investment market is more than 20% up on what was already a good result in 2006. If ...
