Latest reports – Page 3724
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News
Germany’s DIC in €460m buy from SEB
REAL ESTATE – German real estate firm DIC Asset AG said it has invested €460m to acquire 26 commercial properties in Germany from SEB Asset Management. DIC said the €460m covered both the purchase price of the properties and cos...
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News
Dutch giants in €700m German real estate tie
REAL ESTATE – Dutch and Danish pension giants ABP and ATP have teamed up with German real estate firm Patrizia Immobilien to launch a joint venture that will invest up to €700m in German commercial real estate. Under the arrangement, A...
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News
Irish reserve fund’s real estate chief departs
REAL ESTATE - Ian Gleeson, head of property at Ireland’s €18.8bn National Pensions Reserve Fund, is to join Morley Fund Management. It was not immediately clear what the departure would mean for the NPRF’s target of allocating 8%...
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News
Pension closures boost UK REITs
REAL ESTATE - The closure of defined benefits pension schemes will boost the success of UK REITs to the levels of their US counterparts, according to an assessment by custodian Northern Trust. The report, published three months after REITs were in...
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News
Pennsylvania fund eyes office fund
REAL ESTATE- Pennsylvania Public School Employees’ Retirement System has issued a commitment to invest capital into the Broadway Partners Real Estate Fund III. This investment will be put into the pension fund’s value-added component...
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News
Florida fund buys AOL call centre
REAL ESTATE - The Jacksonville Police & Fire Pension Fund in Florida has doubled its real estate allocation with the $16.5m (€12.2m) acquisition of a former AOL call centre in the state. Pension fund executive director John Keane said th...
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News
European schemes targeted by Macquarie, LODH
REAL ESTATE - Macquarie Bank and Swiss private bank Lombard Odier Darier Hentsch (LODH) have launched a joint infrastructure investment vehicle aimed at Swiss and other European pension funds as well as high net worth investors. LODH head of inve...
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News
Ohio Police & Fire pick independent fiduciary
REAL ESTATE - Ohio Police & Fire Pension Fund has selected Robert A. Stanger & Co. as its real estate independent fiduciary to look at a portion of the pension fund’s real estate portfolio. Ohio Police & Fire made this decision ...
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News
Danish doctors boosted by real estate
REAL ESTATE - The Doctors' Pension Fund in Denmark - Lægernes Pensionskasse (LP) – has disclosed a huge 56.4% return on its real estate investments in 2006. Overall, though, it posted a pre-tax return on its investments of 12.9% for 200...
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News
Kansas PERS adds international real estate
REAL ESTATE – The Kansas Public Employees Retirement System has added to its real estate portfolio with commitments to international investing totaling $175m (€130.9m). The pension fund allocated a total of $140m into global REITs. Th...
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PropertyEU Archive
Oppenheim Immobilien buys Warsaw office
German property investment company Oppenheim Immobilien has acquired Warsaw's BTA Office Building for an undisclosed amount. The building is located on Rzymowskiego Street in the Mokotow district of the Polish capital. The property provides some 6,700 m[sup]2[/sup] of fully-leased space and the major tenants include Pfeizer, BZ WBK Bank, TBWA, ...
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PropertyEU Archive
Skanska to build London office
Swedish construction company Skanska has been awarded a contract by Hermes Real Estate to build an office property in London for £68 mln (EUR 100 mln). The project is an eight-floor building comprising 21,000 m[sup]2[/sup] of lettable office space on Gresham Street in the City of London. Work has ...
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PropertyEU Archive
Chagala to develop malls in Kazakhstan
Kazakh real estate company Chagala Group has signed an agreement with Zere, another local firm, to develop and operate a number of shopping centres across the country. Under the plan, Chagala will take a 50.1% interest in Zere's subsidiary Zere Malls, which will be renamed Chagala Zere Malls (CZM).
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PropertyEU Archive
Fabege sells eight properties for EUR 145.4 mln
Fabege is selling a mixed-use portfolio to Swedish peer Dios & Kuylenstierna Forvaltning for SEK 1.35 bn (EUR 145.4 mln). The sale will result in an after-tax gain of about SEK 200 mln, Fabege said in a press release. The portfolio consists of eight properties that provide office, industrial and ...
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PropertyEU Archive
Chelsea barracks sold for EUR 880m
A state-owned Qatari property group and London developer Christian Candy have bought London's Chelsea Barracks from Britain's Ministry of Defence for £600 mln (EUR 880 mln). Qatari Diar Real Estate Investment and Candy's investment vehicle CPC Group are part of the Project Blue consortium that won the tender to acquire ...
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PropertyEU Archive
Unibail, Rodamco create Europe's largest property company
France's largest real estate investment trust Unibail and Rotterdam-based retail property company Rodamco Europe have agreed to merge their activities in a conglomerate valued at EUR 21.7 bn. The new entity will be the largest property company in Europe by market capitalisation and the second largest retail property company in ...
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PropertyEU Archive
Bouygues sells Paris office for EUR 484 mln
Bouygues Immobilier, the property arm of French conglomerate Bouygues, is selling the Tour Mozart office building on the outskirts of Paris to the investment company Docks Lyonnais for EUR 484 mln. The 45,500 m[sup]2[/sup] office property is due to house the head office of Bouygues Telecom from 2010.
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PropertyEU Archive
Mega merger 'heralds more consolidation'
The merger of France's Unibail and Rotterdam-based Rodamco Europe to create the largest pan-European commercial property company is likely to be the first of a series of consolidations in the European property sector, according to analysts at JP Morgan.
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PropertyEU Archive
Inmocaral seeks merger partners for SFL
Spanish property group Inmocaral is in talks with two companies in relation to a merger with its French unit Societe Fonciere Lyonnaise (SFL), Spanish daily La Gaceta reported. Citing Inmocaral's ceo Luis Portillo, the newspaper said Inmocaral is considering the possibility of expanding its French business prior to selling a ...
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PropertyEU Archive
Morgan Stanley resigns as joint financial adviser to Brixton
Morgan Stanley resigned last month as one of the joint financial advisors to Brixton, the UK-listed industrial and warehouse real estate investment trust (REIT). The decision by Morgan Stanley follows John Carrafiell's move from Morgan Stanley's investment banking division to run the bank's global real estate principal investing and investment ...
