Latest reports – Page 3731
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PropertyEU Archive
Invista shops in France with EUR 348m
Invista Real Estate Investment Management has acquired a French portfolio through a joint venture with Propinvest for EUR 348 mln. The British property fund manager, which launched an initial public offer in September, said it has conditionally exchanged a contract to acquire 34 high-quality assets across France, with a concentration ...
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PropertyEU Archive
Australia's Mariner makes first German acquisition
Mariner Financial has acquired a portfolio of office buildings in Germany for approximately EUR 48 mln. The purchase, carried out by Mariner's London office, was the first venture in Germany by the Sydney-listed financial services company.
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PropertyEU Archive
CleriMed hires Invista for £300m pan-European fund
Fund manager Invista Real Estate has been appointed by UK insurer Clerical Medical (CleriMed) to establish a pan-European property portfolio. The fund will have a target size of £300 mln (EUR 443 mln) over the coming three to five years. It will invest directly in commercial real estate assets in ...
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PropertyEU Archive
Dawnay Day makes EUR 187m foray into US
London-based finance and property group Dawnay Day has moved into the US with the acquisition of a large residential and commercial portfolio in New York for close to the asking price of $250 mln (EUR 187 mln). The portfolio consists of 47 buildings that include 1,137 apartments and 55 commercial ...
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PropertyEU Archive
Rubicon moves into Austria with EUR 58m purchase
Rubicon Europe Trust (REU) Group has moved into Austria with the purchase of two medical centres in Salzburg and Innsbruck for AUD $96.7 mln (EUR 58 mln) from Signa Holding. The transactions were bought by REU through a Luxembourg asset holding company at a 3.7% discount to the EUR 60.2 ...
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PropertyEU Archive
NIBC Bank buys EUR 490 m German loan portfolio
The Frankfurt-based real estate markets team of NIBC Bank has signed an agreement to acquire a mortgage loan portfolio from German mortgage bank Allgemeine Hypothekenbank. The portfolio has a volume of EUR 490 mln. NIBC said in a statement that it is the first time that an international company has ...
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PropertyEU Archive
Australian property funds in 'massive shift' to Europe
Australian property funds shifted their investment focus to Europe in 2006 by investing EUR 4.5 bn in the region - a 350% increase on the year before. Germany (EUR 2.6 bn) and the UK (EUR 1.2 bn) attracted the majority of the Australian investment, according to property advisor Jones Lang ...
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PropertyEU Archive
LaSalle opens Turkish office
Jones Lang LaSalle (JLL) has opened an office in Turkey and has won the property management and leasing contract for the 346,000 m[sup]2[/sup] Istanbul Cevahir retail and leisure complex in the heart of Istanbul. Istanbul Cevahir is the largest shopping centre in Turkey. The former head of Shopping Centre Management ...
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PropertyEU Archive
Two Portuguese investors plough EUR 950m into Cape Verde
Two Portuguese real estate companies, Design Resorts and Sacramento Campos, are planning to invest a combined EUR 950 mln in the construction of tourist resorts on the island of Santiago in Cape Verde. Design Resorts' Francisco Mendonça told Portuguese news agency Lusa that the company will start construction of its ...
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PropertyEU Archive
Savills launches cross-border European valuation team
Property advisor Savills has recruited three directors who will comprise the initial core of its new cross-border European valuation team. The team consists of Nick Harris, previously of Colliers CRE; Simon Orr, who has transferred from Savill's Paris office and Chris Millington, who is joining Savills from DTZ in April.
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PropertyEU Archive
Polygon raises its stake in Countrywide
Hedge fund Polygon Investment Partners has increased its stake in Countrywide from 14.6% to 22.7%. The move has taken place just before the UK's biggest estate agency Countrywide is due to decide about a £1 bn takeover offer by the US private equity group Apollo, the Financial Times newspaper reported.
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PropertyEU Archive
Russia, Middle East help Mipim to new record
The Mipim property fair held annually in Cannes, France has set an all-time attendance record for the second year in a row. The 18th edition of Mipim in mid-March attracted 26,210 participants, an increase of 22% over 2006. Event organiser Reed Midem said in a statement on Tuesday that Mipim ...
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News
Bundestag passes G-REITs bill
REAL ESTATE – Germany’s lower house of parliament, the Bundestag, has approved draft law legalising German real estate investments trusts (G-REITs) retroactively from 1 January.
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News
Corio undertakes massive Paris office revelopment
REAL ESTATE – Property investor and manager Corio will redevelop and enlarge its Paris’ office building Le Newton into a high quality complex of 42,000 m2, it has announced. The €120m project will lead to an almost fourfold incre...
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News
Noble raises $310m for new hotel fund
REAL ESTATE - Noble Investment Group has raised $310m (€233.1m) of equity for its hotel investment fund called Noble Hospitality Fund. This commingled fund will be the first time that the company has raised a discretionary investment fund f...
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News
Clerical Medical makes moves into Europe
REAL ESTATE - UK insurer Clerical Medical has hired fund manager Invista to spearhead its entry into continental European real estate. The pan-European portfolio will invest in sectors, such as commercial, with a core income profile. A spokes...
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News
JER starts to buy US properties for next commingled fund
REAL ESTATE – US manager JER Partners has started the process of buying properties for its next commingled fund, JER Partners IV. Among the first properties for the fund was the acquisition of the Fairview Park Marriott in Falls Church, Va., f...
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News
ING in €100m Stuttgart retail deal
REAL ESTATE - ING Real Estate Development has sold its Stuttgart retail centre Canstatter Carre to property fund Encore+ in a €100m transaction. The complex – developed by ING - comprises of 37,000 metre2 of lettable area (including 15...
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News
Harvard Endowment invests in BayNorth’s new $473m fund
REAL ESTATE – US-based BayNorth Capital LLC has completed raising capital for its latest investment fund, BayNorth Realty Fund VII, with a total of $472.5m (€356m) contributed. One of the more significant investors in the fund was the...
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News
Norway follows Denmark with record returns
REAL ESTATE - The Norwegian property market returned 17.6% last year – its highest return since the index launched in 2000 – but the property market still performed below equities, which returned 32.4%. But the figures, published last...
