Latest reports – Page 3749
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PropertyEU Archive
DEGI acquires Paris office development
Real estate investment manager Deutsche Gesellschaft fur Immobilienfonds (DEGI) is investing some EUR 40 mln in the purchase of an office project in Saint Quentin en Yvelines, within Paris' metropolitan region of Ile-de-France. DEGI is acquiring the project, fully pre-let, for its DEGI International fund.
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PropertyEU Archive
CLS raises stake in Bulgarian Land
Property investment company CLS Holdings has increased its stake in Bulgarian Land Development (BLD) to 28.65%. CLS, led by Sten Mortstedt, has agreed to purchase about 7.2 million shares at a price of £1 each. AIM-listed BLD specialises in developing residential and commercial property across Bulgaria.
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PropertyEU Archive
Chagala sells EUR 80 mln shares
Kazakhstan property company Chagala has raised $104 mln (EUR 79.35 mln) in an initial public offering (IPO) in London, aimed at further expansion in Kazakhstan. The firm sold 19.7 million global depository receipts at EUR 7.43 each, which is the maximum price in the range used to market the sale, ...
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PropertyEU Archive
Accor set to sell 91 hotels
Hotel group Accor will sell 91 hotels in Germany and the Netherlands as part of a sale and leaseback strategy it announced in September, French newspaper Les Echos has reported. The divestment comprises 72 German and 19 Dutch hotel sites, particularly under the brands Novotel and Mercure, as well as ...
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PropertyEU Archive
Tishman Speyer fills Milan office property
US property company Tishman Speyer has leased the last remaining floor of Via Santa Margherita 3 in Milan to the international law firm Linklaters. Tishman Speyer completed a 14-month refurbishment of the 12,300 m[sup]2[/sup] building in December 2006.
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PropertyEU Archive
Hochtief sells Munich Brainfactory
Essen-based Hochtief has sold its Brainfactory complex in Munich to life insurance and financial services firm Swiss Life. The financial details were not disclosed. Completed at the end of 2006, the complex includes two adjoining buildings providing a total of 8,000 m[sup]2[/sup] of office space. The property also has six ...
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PropertyEU Archive
Pescara to get major mixed-use complex
The municipality of Pescara in central Italy is to get a major mixed-use complex located on a 10-hectare site to house the headquarter of Italy's Abruzzo Region administrative office. The development, involving an investment of about EUR 50 mln, will include three 48-metre towers, providing some 20,000 m[sup]2[/sup] of office ...
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PropertyEU Archive
Metrovacesa may delist shares before split up
Metrovacesa's share price fell 8.4% as trading resumed after a suspension on Monday when plans to split up Spain's largest property company in two groups were announced. The plan valued Metrovacesa at EUR 76.7 per share, while the company's share price closed at EUR 118 last Friday.
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PropertyEU Archive
Political turmoil in Italy may delay SIIQ
The resignation of Italian prime minister Romano Prodi may not only stall Italy's nascent process of economic overhaul, but may also delay the introduction of real estate investment trusts (REITs) in the country, researchers at merchant bank Kempen & Co warned yesterday. 'The political turmoil could create some uncertainty about ...
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PropertyEU Archive
KanAm buys Espace Petrusse in Luxembourg
German property investment fund KanAm grundinvest Fonds has acquired the Espace Petrusse development located in the central business district of the City of Luxembourg for EUR 109 mln. Once completed, the development will be the future headquarter of the world's largest steel company Arcelor Mittal on a 10-year leasing contract.
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PropertyEU Archive
'TomTom to move to new Amsterdam development'
TomTom, the Dutch producer of navigation systems, is to lease 11,000 m[sup]2[/sup] in the Oosterdokseiland development in Amsterdam, according to sources in the sector. The company's headquarters are currently located on Rembrandtplein in the heart of the Dutch capital, but the company is believed to be planning to move its ...
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PropertyEU Archive
Redilco steps up presence in France
Italian property group Redilco has acquired an office building in the ninth arrondissement of Paris, through its investment vehicle Compagnie D'Angely, for EUR 22.5 mln. The property previously housed the French head office of Italian Banco Popolare di Verona e Novara. Redilco said in a press release that it is ...
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PropertyEU Archive
Strategic Value Partners acquires Capri portfolio
Fund manager Strategic Value Partners has added the Capri portfolio to its German real estate business. The properties include five mixed-use properties located in Berlin, Hamburg and Essen with a total lettable area of over 134,000 m2; a residential estate in Berlin, Spandau with 1,089 apartments totalling over 75,000 m2; ...
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PropertyEU Archive
Prupim buys Dutch warehouse
Prupim has purchased a distribution warehouse in the eastern Dutch city of Enschede from the German open-ended real estate fund manager WestInvest on behalf of the M&G European Property Fund. PRUPIM said it acquired the building off-market for a value of EUR 22 mln. The property provides some 40,000 m[sup]2[/sup] ...
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PropertyEU Archive
Sonae Sierra begins construction of Colombo Towers
Construction has begun in Lisbon for the Colombo Towers, which will become one of the main office developments in the Portuguese capital. The project is a 50/50 partnership between Sonae Sierra and ING Real Estate, and will involve an investment of about EUR 90 mln, Sonae Sierra said in a ...
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PropertyEU Archive
Schiphol to host Chinese trade centre
Amsterdam's Schiphol Airport has signed an agreement with Chinamex for the development of a trade and exhibition centre near the airport. The centre will promote 1,000 to 1,500 Chinese firms that plan to trade in the EU.
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PropertyEU Archive
Standard Life in first German acquisitions
Standard Life Investments (SLI) has made its first acquisitions in Germany in a bid to strengjthen its EUR 91 mln European Property Growth Funds (EPGF), the UK company said on Wednesday.
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PropertyEU Archive
Islamic bank acquires French portfolio
Bahrain-based International Investment Bank (IIB) has acquired a 90% stake in a 'high-quality' commercial portfolio comprising five properties in strategic locations in Paris and one in Lyon for $105 mln (EUR 80 mln).
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PropertyEU Archive
InterContinental to sell its 'trophy assets'
InterContinental Hotels Group (IHG) is considering selling its remaining 25 hotels, valued at £1 bn, among which its top-four 'trophy assets', the London, Paris, New York and Hong Kong hotels. In 2006, the hotels group sold 31 Continental European Hotels, valued at £680 mln, in a steadily continued sell-off pressured ...
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PropertyEU Archive
Bear Stearns buys Crane Capital, goes European
New-York based financial services firm Bear Stearns has acquired London-based Crane Capital Associates, a specialist in raising money for private equity and real estate investment funds. The terms of the deal have not been disclosed.
