Latest reports – Page 3726
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PropertyEU Archive
British Land wins £1bn London regeneration project
British Land has been awarded the contract for one of the largest regeneration projects in London, the revamp of the Euston station in the north of the city. The redevelopment is valued at some £1 bn (EUR 1.4 bn) and will involve a 15-acre site around the station. The masterplan ...
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PropertyEU Archive
Kenmore, La Salle set up new joint venture
Kenmore has sold the Concorde Park office building in Maidenhead, some 40 km west of London, for £15.25 mln (EUR 22.3 mln). The UK commercial property company has also set up a new joint venture with the global real estate manager LaSalle Investment Management to fund the refurbishment of the ...
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PropertyEU Archive
Morgan Stanley, Credit Suisse back EUR 2.2bn Fordgate deal
Fordgate's acquisition of a EUR 2.2bn portfolio of European offices from German private bank Bankhaus Wölbern is structured as a CMBS deal and is backed by Morgan Stanley and Credit Suisse. The deal comprises offices in Germany, the Netherlands (72 properties), Switzerland and Belgium, which have been brought together ...
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PropertyEU Archive
HUT, Crown Estate join forces in £680m deal
Hercules Unit Trust (HUT) and Crown Estate have teamed up in a £680 mln (EUR 998 mln) joint venture limited partnership. The 50/50 joint venture incorporates HUT's 51,096 m[sup]2[/sup] Fort Kinnaird Shopping Park in Edinburgh, Crown Estate's 22,854 m[sup]2[/sup] Gallagher Retail Park in Cheltenham and the 13,006 m[sup]2[/sup] Shires ...
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PropertyEU Archive
EC eyes cross-border real estate investments
The European Commission is to set up a committee to look at ways to increase EU-wide investment in non-listed, open-ended real estate funds. Internal Market and Services Commissioner Charlie McCreevy said that while open-ended
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PropertyEU Archive
Caisse d'Epargne set to take 38% of Nexity
Caisse d'Epargne will become Nexity's core shareholder taking over at least 38% of the property developer. The two groups said that Nexity will subsequently become the regional lender's property arm. In exchange, Nexity will also take a 25% stake in Caisse d'Epargne's real-estate finance unit Credit Foncier. A final agreement ...
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PropertyEU Archive
Retail dominates Portuguese property market rise in 2006
Total property returns in Portugal rose to 12% in 2006, the highest return since 2002, and way above bond returns of 0.2% and inflation of 2.5%. The rise in property returns was dominated by the retail sector, which saw returns rocket by 15.9% last year, driven by strong investor demand ...
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PropertyEU Archive
Scottish Widows acquires mixed-use property in Birmingham
Scottish Widows Investment Partnership (SWIP) has acquired the 46,079 m[sup]2[/sup] City Centre House office and retail block in Birmingham from fund manager Prupim for £161 mln (EUR 237 mln). The price reflects a yield of 5%. CB Richard Ellis and Lewis Ellis advised Prupim and Jackson Criss acted for SWIP.
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PropertyEU Archive
Land Securities sells in Newcastle
Land Securities announced that it has sold The Gate leisure scheme in Newcastle to PropInvest for £76.5 mln. The deal reflects a net initial yield of 4.8%. Property advisor Knight Frank advised Land Securities.
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PropertyEU Archive
Choice Hotels Europe to double French holdings
The European arm of US hotel chain Choice Hotels said it planned to more than double the number of hotels it operates in France in the next five years. The company said it wanted to raise the number of hotels in France to 250 from the current 120 by 2011. ...
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PropertyEU Archive
Deutsche Wohnen shops in Offenbach, Frankfurt
German listed property company Deutsche Wohnen has acquired 510 residential and 37 commercial units from private investors for a total of EUR 40.5 mln. The 35,000 m[sup]2[/sup] portfolios are located in the cities of Offenbach (75%) and Frankfurt (25%).
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PropertyEU Archive
Newcastle football club set to develop St James' park
Newcastle United Football Club is planning to develop a £300 mln complex around its St James' Park ground. The league club said that the Number 1 St James' Park will cover a site ranging from 52,400 m[sup]2[/sup] to 60,000 m2, including a 140-room hotel and conference centre, newspaper Property Week ...
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PropertyEU Archive
Degi may sell off EUR 2bn in assets
Dresdner Bank's property fund arm Degi may sell off properties worth EUR 2 bn from its open-ended property funds, according to a report in newspaper Financial Times Deutschland. In February, Dresdner replaced the Degi management, bringing in Silvia Schmitten to cut back Degi's EUR 5 bn property fund business, one ...
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PropertyEU Archive
Gecina boosts logistics holding
Gecina, a listed French real estate firm, said it had acquired a 90,000 m[sup]2[/sup] logistics portfolio from the Mory Group, a French freight-forwarding and logistics operator. The portfolio covers 11 freight-forwarding platforms and two industrial properties in the Greater Paris Region. Gecina said the entire portfolio is leased to the ...
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PropertyEU Archive
Nominees for Commercial Real Estate awards named
The organisers of the Commercial Real Estate Awards 2007 have selected the participants that will move on to the second round. The winners will be announced during the awards ceremony to be held on 19 April at the Expocenter in Moscow. The nominees and categories are as follows:
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PropertyEU Archive
Proudreed buys 11 French assets
French company Proudreed has completed three purchase in France, acquiring 11 buildings with 75,528 m[sup]2[/sup] of business space. The investment value comes to EUR 41.2 mln, reflecting a yield of 8%, French newspaper Business Immo reported.
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PropertyEU Archive
Euro property index claws back ground in March
The FTSE EPRA/NAREIT Europe Index in March clawed back some of its January and February losses, with Sweden and the UK booking strong returns, according to the European Public Real Estate Association.
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PropertyEU Archive
Spanish builder to develop two Warsaw towers
Spanish builder Pro-Urba Polska is planning to develop two mixed-use towers in Warsaw with a combined space of 80,000 m[sup]2[/sup]. Pro-Urba Polska, a company owned by Spanish Grupo Proconsol and Urbanizadora XXI, bought the site from Polish developer Budbaum. It aims to build two towers measuring 63 and 126 metres ...
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PropertyEU Archive
GPR index rises in March
The Global Property Research 250 Europe index rose by 3.5% in March after two consecutive months of losses, taking returns for the first quarter to 1.9%. March saw strong performances from Denmark, Poland and Turkey, with
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PropertyEU Archive
Delek forced to aim lower in London IPO
Israeli conglomerate Delek raised £100 mln (EUR 150 mln) from the flotation of its property arm on London's AIM. Delek was looking to raise £150 mln, with a targeted price range of between £2.25 and £2.90 a share. The shares eventually traded in the £2.00 to £2.10 range. The offer ...
