Latest reports – Page 3738
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PropertyEU Archive
W Hotels enters Italy
Hotel chain Starwood Hotels & Resorts Worldwide and Italian real estate company Gruppo Statuto have set up a joint venture to launch the first W Hotel in Italy. Located in the heart of Milan's cultural district Brera, the hotel will occupy a converted mid-20th century building and comprise 76 rooms, ...
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PropertyEU Archive
Europa Capital launches Eastern Europe fund
Real estate fund manager Europa Capital is launching a new opportunity fund, the Europa Emerging Europe Fund, which will target investment opportunities in Eastern and South Eastern European countries. The fund aims to invest some EUR 600 mln in Romania, Bulgaria, Ukraine, Turkey and the Western Balkans.
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PropertyEU Archive
Plaza clinches second Romanian deal
Plaza Centers has concluded its second transaction in Romania through the purchase of a 31,800 m[sup]2[/sup] plot of land in Timisoara, West Romania. Plaza is planning to develop a 30,000 m[sup]2[/sup] shopping centre and about 20,000 m[sup]2[/sup] of new mixed retail, office and residential space adjacent to the mall. The ...
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PropertyEU Archive
Israeli firms invest in high-tech park
Two Israeli companies have acquired a high-tech industrial park near Cologne, eastern Germany, for EUR 106.7 mln. Property and Building Ltd and Electra Ltd conducted the purchase through a foreign subsidiary in which each company has a 42.5% stake.
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PropertyEU Archive
Generali plans EUR 7 bn investment in European property
Italy's Generali plans to invest up to EUR 7 bn in European property in the coming three years. The company is also considering shifting assets into a real estate investment trust (REIT), Generali property investment's general manager Giovanni Paviera told news agency Reuters.
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PropertyEU Archive
CGG snaps up Bouygues Telecom HQ near Paris
German property group Commerz Grundbesitz (CGG) will pay EUR 260 mln for the Technopole Bouygues Telecom development in Meudon, a municipality in southwestern Paris. Developed by French builder Bouygues Immobilier, the site will offer some 53,000 m[sup]2[/sup] of mixed areas and 2,000 parking spaces and will be let to Bouygues ...
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PropertyEU Archive
Turkish retail investment rises threefold in 2006
Retail investment volume in Turkey increased threefold last year to EUR 770 mln compared with 2005, according to a report by Jones Lang LaSalle (JLL). Turkey's EU accession plans, a stabilising economy, increasing transparency and retailer demand are fuelling the boom in real estate foreign investment, which accounted for EUR ...
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PropertyEU Archive
Raven, EGL develop Moscow warehouse
Property investment company Raven Russia has agreed to fund and develop a $56 mln warehouse near Sheremetyevo, Moscow's second-biggest airport, in a venture with Turkey's EGL Holdings. The 55.000 m[sup]2[/sup] site is due for completion in the third quarter of 2008.
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PropertyEU Archive
ING buys German mall for EUR 100m
ING Real Estate Investment Management has acquired the Stadtgalerie Heilbronn mall development from ECE Projektmanagement for about EUR 100 mln. ECE will retain the management of the shopping centre, which is scheduled to open in the spring of 2008.
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PropertyEU Archive
ThyssenKrupp sells off German assets
German steelmaker ThyssenKrupp has sold the Dreischeibenhaus portfolio and its current head office in Düsseldorf to a consortium of real estate investors comprising Deutsche Bank's RREEF Global Opportunities Fund II, Harder & Partner, Hockenheim and Habacker Holding.
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PropertyEU Archive
Hansteen shops in Germany and Holland
Hansteen, a holding set up by Morgan Jones and Ian Watson, has acquired two prime logistics properties in Houten, the Netherlands, for EUR 17.3 mln. It has also bought a portfolio of 13 properties in Neckarsulm, southwestern Germany, for EUR 16 mln.
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PropertyEU Archive
Immoeast in major Czech deal
Immoeast has completed its largest transaction in the Czech Republic to date through the purchase of a portfolio comprising five office and retail properties for EUR 210 mln. The properties are located in the capital city of Prague and Brno, the country's second-largest city.
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PropertyEU Archive
KanAm disposes of prime Paris asset
Germany’s KanAm grundinvest Fonds has sold its Le Printemps building in Paris for EUR 184.6 mln. The purchaser was not disclosed. The property is part of a three-building department store complex and comprises nine storeys with three underground levels. Substantially modernized in 1998 and 1999, the building originally dates back ...
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PropertyEU Archive
Norwegian pension fund moves into property
Norwegian finance minister Kristin Halvorsen has called on companies to assist the government’s EUR 224.4 bn pension fund in its first exposure to real estate. According to IPE Real Estate, the government has launched a tender for companies to report on tax issues involving investments in property and infrastructure in ...
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PropertyEU Archive
Libeskind rejoices in architecture 'renaissance'
Architecture is undergoing a huge renaissance as more attention is paid to the environment, substantiality and the 'democratisation of spaces,' internationally renowned architect Daniel Libeskind told an audience at the Mipim property fair in Cannes on Tuesday.
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PropertyEU Archive
Singapore's government ploughs EUR 623m in UK mall
GIC Real Estate, the Singaporean government's investment arm, has agreed to purchase a 40% of the MetroCentre mall located in Gateshead, north-east England, from Liberty International's unit Capital Shopping Centres (CSC). The transaction value comes to £426 mln (EUR 623 mln), valuing MetroCentre at some £1.065 bn. Under the deal, ...
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PropertyEU Archive
Macquarie buys Milan offices for EUR 151m
Australia's Macquarie Office Trust has acquired the City Central office block in Milan for EUR 151.9 mln, marking its second deal in Europe. The seller was not disclosed. Ceo Adrian Taylor said the transaction was in line with the company's strategy of diversifying investments into European growth markets.
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PropertyEU Archive
Welcome Break business raises interest in UK
British Land, Hammerson and Land Securities are bidding for the Welcome Break rest-stop business that is being sold by businessman Robert Tchenguiz, newspaper The Financial Times has reported. Other bidders for the eight UK service stations include Capital & Regional and Warner Estate. The first bids were expected for March ...
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PropertyEU Archive
ECE, Advance Properties create Sofia's new urban quarter
Bulgaria's Advance Properties and Germany's ECE Projektmanagement will develop Europe Park Sofia, a new urban quarter in the Bulgarian capital Sofia. The project will be built on a former factory site in the heart of the city and will include shopping areas, offices, apartments, hotels, a cinema and other entertainment ...
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PropertyEU Archive
New INREV standard for private property funds
INREV has launched a new reporting standard for Europe’s non-listed institutional real estate funds, the industry association announced Tuesday at the Mipim property fair in Cannes. INREV also said it is developing a model performance and valuation benchmark, possibly paving the way for a unified investment asset class in the ...
