Latest reports – Page 3722
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PropertyEU Archive
Intesa to sell EUR 300m property assets
Italian bank Intesa Sanpaolo is planning to sell property assets valued at some EUR 300 mln in the coming two to three years, the lender said in a statement. The disposals are part of Intesa's 2007-2009 plan, aimed at optimising the management of its EUR 6 bn property portfolio. The ...
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PropertyEU Archive
IKB expands in Italy
IKB Deutsche Industriebank has added a new division dedicated to real estate financing in Italy. The new division will concentrate on the structuring and developing of real estate financing related to both the acquisition of existing properties and developments. The office, headed by Antonio Biggi, will also work to promote ...
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PropertyEU Archive
Nexity mulls bid for Cogedim
French real estate company Nexity is interested in buying rival real estate group Cogedim. 'I can confirm that we are having strategic thoughts over Cogedim. It is to be expected that a property company would be interested in it, and we are looking at it,' Nexity's chairman and ceo Alain ...
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PropertyEU Archive
Eurohypo backs Rockpoint's UK warehouse buy with £220m facility
Eurohypo has provided a £220 mln (EUR 322 mln) facility to support the acquisition by Rockpoint of a 371,612 m[sup]2[/sup] warehouse portfolio previously owned by Gladman Developments. Eurohypo is the sole mandated arranger, agent and underwriter for the debt facility, Eurohypo said in a statement.
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PropertyEU Archive
Colonial-Inmoracal eyes European expansion
Luis Portillo, head of Colonial, Inmocaral and Societe Foncieres Lyonnais, is already looking beyond his latest acquisition in Spain. The entrepreneur told new agency Europa Press on Thursday that he is seeking acquisitions in the Netherlands, Germany and the UK.
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PropertyEU Archive
Prupim sets up sustainable portfolio
UK-based Prupim is launching a new portfolio which will examine ways a 'typical' property portfolio's carbon footprint can be reduced while maintaining or even enhancing investment returns. The Improver Portfolio consists of 25 Prupim-managed properties covering all sectors.
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PropertyEU Archive
BlackRock, Horizon IM join forces
Horizon Investment Management and Blackrock are teaming up to invest in development projects across France, Belgium, the Netherlands and Luxembourg, Horizon said in a statement. The first step of the plan will involve the acquisition of EUR 600 mln of properties to be developed on behalf of Blackrock's Opportunistic Real ...
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PropertyEU Archive
DB RE to sell European assets for EUR 400 mln
Deutsche Bank's property arm DB Real Estate is planning to sell its Metropolis 1 portfolio of offices in London, Paris and Budapest. The portfolio, owned by DB RE METROPOLIS 1 closed-end fund, was bought for EUR 310 mln three years ago and was originally intended to be hold until 2014/2015. ...
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PropertyEU Archive
Redevco buys multi-purpose Angereck building
Dutch property company Redevco has agreed to buy the multi-purpose Angereck building in downtown Erfurt, the capital of the federal state of Thuringia in Germany. The retail, offices and residential building was completed in 1999 and has a total lettable area of around 7,500 m[sup]2[/sup]. The building is fully ...
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PropertyEU Archive
LSR offers 92 million shares in London IPO
Local Shopping REIT, a British property investment company, is offering almost 92 million ordinary shares in an Initial Public Offering (IPO) in London, LSR said in a statement. The offer is being carried out at a price of 174 pence per share. Local Shopping REIT plans to raise as much ...
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PropertyEU Archive
Redevco acquires Swedish retail warehouse
Redevco Sweden has purchased a retail warehouse in Lund from Swedish real estate company Ikano Fastigheter for an undisclosed amount. The property, which is fully let, is located in the Nova Lund retail park, and provides about 3,200 m[sup]2[/sup] of retail. It was constructed in 2005 and is let to ...
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PropertyEU Archive
Lloyd Fonds purchases Sylt hotel
Hamburg-based Lloyd Fonds has acquired a hotel development in Sylt, northern Germany, for EUR 24.4 mln. The seller, real estate company GBI, will retain a 5.1% interest in the project, which is to provide some 17,000 m[sup]2[/sup] of four/star hotel space.
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PropertyEU Archive
Countrywide approve £1.05 bn Apollo Bid
Countrywide's shareholders have approved a bid by US private equity group Apollo for Countrywide, the UK's largest residential real estate broker. Earlier Apollo raised its cash-and-stock offer for Countrywide to £1.05 bn (EUR 1.54 bn), or £6.17 per share, after another potential bidder approached Countrywide.
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PropertyEU Archive
Metrovacesa to develop Barcelona office building
Spanish property firm Metrovacesa said it had bought an 11,387 m[sup]2[/sup] plot in Barcelona’s 22@ business district for an undisclosed sum. The company said it will build a 20,687 m[sup]2[/sup] office building on the new site and an adjacent 9,300 m[sup]2[/sup] plot bought in July 2006. Metrovacesa opened a 32,000 ...
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PropertyEU Archive
Brussels office market sees demand, rents rise in 2006
The Brussels office market is attracting investors with high occupancy rates and increasing rents, according to the latest King Sturge report on the Belgian capital’s office property sector. The office sector accounted for 59% of all Belgian property investments, with Brussels alone garnering 40% of investments in the country’s real ...
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PropertyEU Archive
Raven Russia, EGL to build $56m Russian logistics complex
UK-listed property fund Raven Russia and Turkish developer and logistics operator EGL said they have started construction on a 55,000 m[sup]2[/sup] logistics complex near Moscow's Sheremetyevo-2 airport. Raven Russia's advisors, Jones Lang LaSalle, said the joint venture will invest an estimated $ 56 mln (EUR 42 mln) in the project.
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PropertyEU Archive
HBOS, Schiphol, ABP join Zuidas bidders
The UK's Halifax Bank of Scotland (HSBO), Amsterdam’s Schiphol Airport and civil service pension fund ABP have joined the group of investors who will bid for a share of the 60% up for grabs in Amsterdam’s Zuidas business and residential development. The three new bidders will join Dutch banks ABN ...
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PropertyEU Archive
Martinsa, Fadesa set to merge via 5-for-4 share swap
The management boards of Spain's Grupo Martinsa and Fadesa Inmobiliaria have approved their merger through a share swap with a ratio of five Martinsa shares for every four Fadesa's shares. This values Martinsa's shares at EUR 0.03 and Fadesa's at EUR 0.10. The proposal still needs to be approved by ...
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PropertyEU Archive
Spanish investors buy up to 14% of Eiffage
A group of Spanish investors has teamed up to acquire a stake in French construction company Eiffage, Spanish newspaper El Economista reported on Thursday, citing unnamed sources close to the process. Grupo Inmocaral's chairman Luis Portillo Munoz, Grupo 2002 chairman Jose Ramon Carabante, billionaire business woman Alicia Koplowitz and Xavier ...
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PropertyEU Archive
Middle East property investment rises 14% to $13 bn in 2006
Investors from the Gulf Cooperation Council (GCC) countries invested a total of $13 bn (EUR 9.7 bn) in global real estate in 2006, a rise of 14% on the previous year. According to the latest Jones Lang LaSalle’s Global Real Estate Capital Report, the US was the favourite investment ...
