Latest reports – Page 3720
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PropertyEU Archive
JLL strengthens position in Dutch market with takeover
Jones Lang LaSalle (JLL) has shaken up the Dutch property advisors sector with the acquisition of local broker Troostwijk Makelaars. The new combination is by far the largest advisor in the Dutch investment market with a strong network of offices in the Randstad conurbation encompassing Amsterdam and Rotterdam. The move ...
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PropertyEU Archive
Sparkassen changes acquisition strategy
Sparkassen Immobilien said it will increase the share of developments projects in the entire investment pipeline from the current 10% to 25-33%. The company will Carry out development projects across Central Eastern Europe, while acquiring standing assets solely in Austria and Germany. In Germany, the company will focus on residential ...
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PropertyEU Archive
Dutch province buys HQ from CGI for EUR 111m
The province of South Holland has bought its headquarters in The Hague from German open-ended fund Commerz Grundbesitz-Investmentgesellschaft (CGI) for EUR 111.71 mln. The sale will come into effect on 1 April next year when the provincial authorities' lease on the building expires. The provincial authority investigated whether it was ...
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PropertyEU Archive
DnB NOR seeks to create 'largest Nordic broker'
Norwegian financial services group DnB NOR has put forward an offer to acquire the shares of Swedish real estate broker Svensk Fastighetsformelding for SEK $440 mln (EUR 47.8 mln). Noting that the board of the Swedish company is recommending the offer, DnB NOR said a takeover would create the ...
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PropertyEU Archive
Eiffage cancels voting right of 89 Spanish shareholders
The president of Spain's Sacyr-Vallehermoso, Luis Fernando de Rivero, and a large number of Eiffage's shareholders walked out of the company's annual general meeting after a decision to cancel the voting rights of 89 small Spanish shareholders of the group. The directors of Eiffage, owner of a 5% stake though ...
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PropertyEU Archive
Olympic Properties gets 5 bids for Greek sports centre
Five consortia have bid for the management of the Olympic sports centre in Agios Kosmas, Greece, which hosted the sailing events at the 2004 Summer Olympics in Athens. The winning group will be awarded management of the site for 45 years. The centre provides some 8,945 m[sup]2[/sup] of buildings, a ...
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PropertyEU Archive
AFI Development to launch London IPO
AFI Development has announced a price range of $10-$13 (about £4.98 and £6.48 or EUR 7.36 to EUR 9.57) per share for its initial public offer on London Stock Exchange. The company is offering 100,000 new shares in the form of global depositary receipts (GDRs), of which it has granted ...
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PropertyEU Archive
Orco begins preparatory work for Zlota 44
Orco Property Group has begun preparatory work for the demolition of the City Center shopping centre in Warsaw to make way for Zlota 44, a new luxury apartment building. The company expects the demolition work will take between four to five months.
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PropertyEU Archive
APIA fund acquires office property in Aberdeen
Warner Estate Holdings and Morley Fund Management have announced the acquisition of St Magnus House in Aberdeen on behalf of the Apia Regional Office Fund from Stainton Capital for £23.7 mln (EUR 35 mln). The transaction reflects a net initial yield of 5.6%, increasing to 5.88% on completion of a ...
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PropertyEU Archive
Evans Randall buys Amsterdam office development for EUR 165m
London-based private investment banking group Evans Randall has bought an office property under development in Amsterdam's Zuidas business district for EUR 165 mln.
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PropertyEU Archive
3i pulls out of Foxtons bidding
Buy-out firm 3i has pulled out of the auction to acquire Foxtons, London's largest estate agent, the Times newspaper reported in its online edition. The private-equity group made a first offer in February for Foxtons, which was put on the market with a price tag of £400 mln (EUR 590 ...
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PropertyEU Archive
AIB Capital Markets to raise up to EUR 150m for Polish property
Dublin-based AIB Capital Markets (AIBCM) intends to raise EUR 100 mln to EUR 150 mln from pension funds and private investors for investment in property in Poland. The capital raised will be leveraged on a 3:1 basis which will facilitate total acquisition financing of EUR 600 mln.
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PropertyEU Archive
5-20 listed property firms may become G-REITs
Degi, the investment arm of insurer Allianz, rates 10 German property companies and eight private equity investors as potential candidates for tax-investment real estate investment trusts (REITs). So far, no REITs at all have been launched in Germany since the introduction of the legislation at end-March.
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PropertyEU Archive
Portillo spends EUR 204m on Eiffage stake
Luis Portillo, chairman and majority shareholder of Inmoracal-Colonial, has acquired 2% of Eiffage for EUR 204 mln. Portillo has become the third-biggest Spanish shareholder in the French construction group, whose board is polarized in two axes said to represent rival Spanish and French interests.
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PropertyEU Archive
Iberdrola purchases EUR 150m land in Seville
Iberdrola Inmobiliaira, the property arm of Spain's energy company Iberdrola, is investing EUR 150.3 mln in the southern Spanish city of Seville to buy and develop some 1 million m[sup]2[/sup] of land. Iberdrola said in a press release it will use 65% of the land for industrial and storage activities ...
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PropertyEU Archive
Croatian gulf gets EUR 204m
Public and private investors are investing EUR 204 mln in the Croatian gulf of Kvarnerski Zaljev in a major move to boost tourism in the region. The local municipalities and hotel owners are joining forces to develop and renovate hotel facilities as well as existing roads in the area. In ...
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PropertyEU Archive
Locindus sells 51% stake in SIICInvest to Icade
French construction company Icade has raised its offer to take over a 51% of SIICInvest from EUR 2.71 to EUR 2.78 per share, valuing the company at about EUR 82.5 mln. Icade in November signed an agreement with Credit Foncier de France to acquire control of SIICInvest. Credit Foncier de ...
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PropertyEU Archive
Savills opens office in Hamburg
Property advisor Savills has announced the opening of a new office in Hamburg. The office is staffed by a 16-person team headed by Lars Breur, who recently relocated from Savills Berlin where he was director of investment. The company now has four offices in Germany.
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PropertyEU Archive
Dawnay Day Sirius to float on London's AIM
Dawnay Day Sirius, a real estate company established by Dawnay Day and Sirius Facilities to focus on German commercial real estate, is planning to raise up to EUR 300 mln of new equity through a share offer to institutional investors.
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News
BlackRock adds to Terranova venture
REAL ESTATE - BlackRock Realty and Terranova Corporation have added to their joint venture with the purchase of the 88, 850 s.f. Paraiso Parc in Pembroke Pines, Fla. The property was purchased for $39m (€29.02m). This asset is a new grocery...
