Latest reports – Page 3727
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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
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 ...
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PropertyEU Archive
Invista acquires 27 French logistics sites
Invista European Real Estate Trust (IERET) has purchased a portfolio of 27 French warehouses and one in Germany for EUR 231.5 mln. The majority of the assets, totalling 335,000 m[sup]2[/sup] of space, are situated around Amiens, north of Paris, and in Provence in the south of the country. The deal ...
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PropertyEU Archive
Cable & Wireless strikes EUR 130m deal with British Land
British Land has announced an £88 mln (EUR 130 mln) sale and leaseback agreement with telecommunications company Cable & Wireless for nine properties. The majority of the Cable and Wireless properties are in London and operate as offices and network sites. The total floor space is 33,900 m[sup]2[/sup].
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PropertyEU Archive
Bank Austria's fund shops in Germany
Bank Austria Creditanstalt's subsidiary Ba-Ca Real Invest is launching an open-ended real estate fund which will target investment opportunities across Europe. A spokesperson for Real Invest said that the fund has already acquired three office and retail properties in Frankfurt/Main, Hanburg and Stuttgart for about EUR 40 mln. The fund ...
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PropertyEU Archive
Deutsche Bank, Strabag join forces in Russia
Deutsche Bank and the Austrian developer Zao Strabag have teamed up in a joint venture called DB Development to operate in Russia's real estate market and the Commonwealth of Independent States' (CIS). This will be the first time a western European builder is both contractor and investor in Russian projects. ...
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PropertyEU Archive
Patrizia, ABP and ATP to invest EUR 700m in Germany
Patrizia Immobilien has signed a co-investment agreement with Dutch pension fund ABP and Denmark's ATP Real Estate to spend as much as EUR 700 mln primarily on commercial real estate in Germany. The vehicle will be called Patroffice & Co. The German property investor said it will also handle all ...
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PropertyEU Archive
Dassault buys two Paris offices
Immobilière Dassault has acquired two office buildings in France for a total of EUR 37.6 mln, excluding taxes. The French company has purchased a 1,716 m[sup]2[/sup] property, situated at 36, avenue Pierre Ier de Serbie in the eight arrondissement of Paris. The building is fully let to the fashion firm ...
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PropertyEU Archive
Develica Deutschland invests EUR 70m in Germany
Develica Deutschland has announced the acquisition of three commercial properties in Germany over the last few days. It purchased a fully let 12,522 m[sup]2[/sup] logistics property, located in the northern city of Lohne for EUR 21.78 mln. The deal reflects an initial yield of 7.1%. It acquired another 50,000 m[sup]2[/sup] ...
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PropertyEU Archive
Skanska secures London office project for £50m
Swedish Skanska has been contracted to rebuild and expand the Dashwood House office building in London by Land Securities, the largest property company in the UK. The contract value comes to £50 mln (EUR 73.9 mln).
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PropertyEU Archive
Italian real estate funds raise a record EUR 1.7 bn
Italian real estate funds attracted a record EUR 1.7 bn of investments in the second half of 2006, Assogestioni, the Italian association of investment fund managers, said on Tuesday. 19 new funds, including seven hedge funds, were launched in the last six months of 2006, raising the number of real ...
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PropertyEU Archive
Sando purchases Agofer for EUR 220 mln
Sando Imobiliaria has taken over Spanish peer Agofer for EUR 220 mln. In a statement issued on Tuesday, Sando said the transaction is in line with the company's goal of becoming one of the ten largest companies in the Spanish property sector. Sando is a construction company active in the ...
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PropertyEU Archive
Land Securities sells White City park
Land Securities confirmed that it has sold the White City retail park in Manchester for £85 mln. The UK's biggest commercial property company decided to sell the 23,968 m[sup]2[/sup] scheme, after it converted into a real estate investment trust (REIT). The buyer has not been disclosed, but it is rumoured ...
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News
Pension Real Estate Association: Conference Report
REAL ESTATE – The Pension Real Estate Association’s Spring Conference, organized around the theme "Public Real Estate and Private Market Implications," brought together almost 700 professionals for two days of discussions....
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News
EU sets up real estate expert group
REAL ESTATE – The European Commission has decided to set up an expert group to advice it on open-ended real estate funds. "The group will advise the Commission on how to improve the European market for these funds and on whether EU-lev...
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PropertyEU Archive
Fidelity targets direct property with new fund
Fidelity International is to launch a new pan-European semi open-ended 'bricks and mortar' fund this year, with a closed-ended retail fund to follow in 2008. The Citywire financial news service reported that the new funds are the beginning of Fidelity International's 'drive into the direct property market'. The company created ...
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PropertyEU Archive
Germany introduces G-REIT
Germany has became the latest country with a real estate investment trust (REIT) structure. The Bundesrat, or upper house of parliament, approved the legislation on Friday that introduces the tax-efficient vehicle retroactively from 1 January this year.
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PropertyEU Archive
IFIL completes purchase of Cushman & Wakefield
IFIL has completed the purchase of a 71.52% stake in Cushman & Wakefield for EUR 474 mln. The company got approval from Italy's antitrust agency in mid-February to buy a stake in the world's largest privately-held real estate advisor. The acquisition was announced last December. IFIL is the investment company ...
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PropertyEU Archive
Irish investor buys Stockholm property for EUR 283m
Danish property company Keops has sold the Fatburen office complex in Stockholm, Sweden to Dublin-based Vico Capital for SEK 2.66 bn (EUR 283 mln). The disposal was carried out by Keops to redeem bonds as interest rates rise, ceo Ole Vagner said.
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PropertyEU Archive
Conwert expands in Germany with EUR 160m investment
Conwert Immobilien Invest has made its largest acquisition in Germany with the purchase of 152 properties in Potsdam for EUR 160 mln. The portfolio consists of 1,616 apartments covering 112,200 m2, 34 offices with a total rental area of 5,800 m2, and 909 parking spaces. Conwert is a Vienna-listed residential ...
