Latest reports – Page 3740
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PropertyEU Archive
Merrill Lynch mulls $1bn investment in Turkey
Merrill Lynch's Bosphorus Real Estate Fund is planning to invest as much as $1bn in Turkey over the next three years, newspaper The Daily Sabah reported, citing the chairman of Merrill Lynch's local partner Krea. The fund, a joint venture between Merrill Lynch Global Principal Investments and Krea, is considering ...
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PropertyEU Archive
Pirelli RE eyes foreign expansion
Pirelli & Co Real Estate said its foreign assets will increase in 2007 from 14% to 25% of the total assets under management. The company will focus on central-eastern Europe next year, consolidating its presence in Germany and Poland, and widening its business in Romania, Bulgaria and Croatia, Chief Financial ...
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PropertyEU Archive
Aedes sells 81% of Boccaccio to Cordea Savills
Aedes has accepted Cordea Savills' binding offer to purchase 81.7% of Boccaccio, a closed-end real estate fund reserved for institutional investors that specialises in retail properties. The deal is expected to be completed by March 30, 2007, Aedes said in a press release.
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PropertyEU Archive
British Land set to invest EUR 350m in Spain
British Land and the closed-end fund Pillar Retail Europark Fund (PREF) have formed a joint venture to acquire Nueva Condomina, a regional shopping centre and retail park in Murcia, southeastern Spain for around EUR 350 mln. The newly developed site is owned by Deparcom, a joint venture between Eroski and ...
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PropertyEU Archive
Fortis RE may buy up to 33% of Agridec
Fortis Real Estate announced it has begun talks with Société Financière de l'Etoile (SFE) and Société de l'Etoile (SE) to acquire a stake in Belgian real estate group Agridec for around EUR 204 per share. SFE and SE hold 23.6% and 10% respectively of Agridec, a company which invests mainly ...
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PropertyEU Archive
XXI Century Investments Public to build 11 warehouses in Ukraine
XXI Century Investments Public has signed an agreement to acquire three plots of land covering 78 hectares in the hubs of Kiev and Odessa in Ukraine. The Ukrainian real estate company said it will invest about EUR 212.5 mln to develop 11 warehousing projects by 2012. It added that blueprints ...
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PropertyEU Archive
Halverton sets up new EUR 1 bn European fund
Halverton Real Estate Investment Management is launching a new EUR 1 bn pan-European fund called EB8. The fund will target investment opportunities mainly in the logistics sector of the UK, the Netherlands, Germany, France, Denmark and Sweden.
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PropertyEU Archive
Astroc boss is richest self-made newcomer on Forbes list
Astroc chairman Enrique Banuelos is the richest self-made newcomer on the Forbes billionaire list. Banuelos is one of nine new Spanish real estate and construction billionaires, with a combined fortune of $25 bn, on the list this year. At 41, Banuelos, who Forbes says is worth $7.7 bn (EUR 5.8 ...
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PropertyEU Archive
MIPIM showcases skyscraper projects
Five of the world's most 'grandiose' skyscraper projects are to be showcased at MIPIM in the French Riviera city of Cannes from 13 to 16 March. Although sometimes dismissed as outdated, skyscrapers are 'symbols of their builder's technological and economic power,' the organisers of the international property market said in ...
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PropertyEU Archive
Orco to issue EUR 175m bonds with warrants
Luxembourg-based Orco Property Group has announced that Lehman Brothers subscribed to the EUR 175 mln bonds with warrants to be issued by Orco. Lehman Brothers privately placed some of these securities with investors on March 7, 2007. The bonds have a maturity of 7 years, a coupon of 2.5% and ...
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PropertyEU Archive
Slough Estates eyes Italian and Spanish expansion
Slough Estates has announced that Spain and Italy will be 'target countries' in 2007. The UK company is keen to boost its regional presence in these two markets after entering them in November 2006 through a sale-and-lease-back deal with Antalis. 'This year obviously Spain and Italy will be high on ...
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PropertyEU Archive
Jelmoli may look for buyers
Swiss Jelmoli Holding may seek investors for part or all of the company's stake as the department-store owner is reorganizing its retail and property units, Bloomberg reported citing two unnamed sources. Jelmoli said in January it was considering to separate its retail and property assets, valued at some EUR 1.42 ...
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PropertyEU Archive
Syrian tycoon hints at REIT launch
Syrian-born property tycoon Simon Halabi is reportedly planning to float a REIT that could have up to £2.5bn of assets. Halabi has started negotiations with investment banks to sell a stake in his real estate holdings, the Financial Times reported. His Pratractor portfolio includes the UK headquarters of JP Morgan ...
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PropertyEU Archive
Eurocastle in EUR 2.2 bn German shopping spree
The total assets of Eurocastle Investment rose by almost 150% to EUR 5.7 bn over the last twelve months, the company said in its full-year 2006 report. Eurocastle acquired EUR 2.8 bn of German commercial real estate last year, and another EUR 2.2 bn deal in the country was signed ...
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PropertyEU Archive
D2 Private mulls £1bn fund's flotation
D2 Private, an investor in London's property market, is said to be considering a flotation of a new £1 bn (EUR 1.47 bn) fund. The investor is currently in talks with potential advisers to launch a real estate fund which could either be private or listed as a Real Estate ...
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PropertyEU Archive
Carrefour may sell off its property assets
Carrefour's ceo Jose Luis Duran has hinted the company may not be averse to selling off some of its real estate portfolio, valued at EUR 20 bn. Duran told a conference call on the French retailer's 2006 results that there were no plans for a property sell-off. But when questioned ...
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PropertyEU Archive
Hammerson buys retail park for EUR 177m
Hammerson has acquired Ravenhead Retail Park in St. Helens, north-western UK, for £120.6 mln (EUR 177 mln) including costs. Hammerson is paying the private investors who own the retail park with 5 million new shares at £15.76 each and by assuming £36.6 mln in debt and other liabilities. The sale ...
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PropertyEU Archive
Pirelli RE launches Sicily's first private fund
Pirelli Real Estate is launching the first private fund focused on Italy's Sicily region. The closed-end Fondo Immobiliare Pubblico Regione Siciliana (FIPRS) will be managed by the Italian real estate giant. The portfolio consists of 34 properties, valued at EUR 263 mln, which the Sicilian region and some regional institutions ...
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PropertyEU Archive
Adler, THG to invest EUR 40m in logistics development
Germnay's Adler Real Estate and THG Real Estate have acquired the Logistics Center Duisburg-North project located in Duisburg, northern Germany, from ThyssenKrupp. The financial details of this transaction have not been disclosed, but Adler said it will invest some EUR 40 mln in the three-phase construction project. Duisburg-North development will ...
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PropertyEU Archive
Germany's CGG expands in Benelux region
German real estate investor Commerz Grundbezitz Gruppe (CGG) is to open an office in Amsterdam on May 1. The new office will service the Benelux region as part of CGG's international expansion strategy. CGG manages a total of EUR 13 bn in invrestments, and approximately EUR 1.6 bn of the ...
