Latest reports – Page 3750
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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
Legal & General buys Solartron park
Legal & General, an insurance, investment management and financial services group, has acquired the 8,180 m[sup]2[/sup] Solartron retail park in Farnborough, southeast England, from CBRE Investors for EUR 94 mln. The transaction value reflects a net initial yield of 4.38%.
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PropertyEU Archive
Homburg wins Alexis Nihon takeover battle
Halifax-based real estate investment fund Homburg Invest has won the takeover battle for Montreal-based landlord Alexis Nihon, but only after agreeing to sell Alexis Nihon's industrial and office properties to rival bidder Cominar Real Estate Investment Trust.
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PropertyEU Archive
Corio expands further in Italian retail market
Corio, the Amsterdam and Paris listed retail property company, has reached agreement on the acquisition of a 49% interest in the Citta Fiera shopping centre in the north-eastern Italian city of Udine for approximately EUR 87 mln. The shopping centre is the largest in the region and comprises 70,800 m[sup]2[/sup] ...
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PropertyEU Archive
Dutch firm joins Taxand real estate team
Dutch law firm Van Mens & Wisselink has become the latest member of the relatively new global tax alliance, Taxand, which, aside from VMW in the Netherlands, has property lawyers in at least 20 of the 36 countries it is active in. It also has specialists in several other areas ...
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PropertyEU Archive
European investment reaches EUR 242 bn - JLL
Direct investment in European real estate reached a record EUR 242.2 bn in 2006, up 39% on the year before, according to Jones Lang LaSalle's latest European Capital Markets Bulletin. This figure represents the biggest volume increase (EUR 68 bn year on year ) ever recorded.
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PropertyEU Archive
Great Portland adds to Hanover Square estate
British property major Great Portland Estate has carried out two transactions to add to its existing 48,000 m[sup]2[/sup] Hanover Square estate in the West End of London. The first transaction involved a property swap with South Yorkshire Pensions Authority. Great Portland bought 1 Tenterden Street for £14.95 mln (EUR ...
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PropertyEU Archive
Euroffice in third European acquisition
Investment manager Curzon/IXIS AEW Europe has acquired a 20,500 m[sup]2[/sup] office building in Hamburg for its pan-European Euroffice fund. The financial details of this transaction have not been disclosed. The asset is located in the Neuer Huhnerposten area of the city of Hamburg near the main railway station. It was ...
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PropertyEU Archive
GMPA's PFI project declared a 'huge success'
The Greater Manchester Police Authority (GMPA) has announced its EUR 116 mln Public Finance Initiative (PFI), completed at the end of 2006, has been a 'huge success'. John Laing, awarded the contract in 2001, has delivered the 17 new police stations across 16 sites on time and on budget.
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PropertyEU Archive
Warburg-Henderson purchases German office portfolio
Hamburg-based Warburg-Henderson KAG has bought three properties in the German cities of Duesseldorf and Hamburg for a combined value of EUR 52 mln. In Duesseldorf, the company has purchased an office building of 9,670 m[sup]2[/sup] leased to London-based group KPMG.
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PropertyEU Archive
IFIL's buy of C&W gets go-ahead
IFIL, the investment vehicle of Italy's Agnelli family, has received approval from Italy's antitrust agency for the purchase of a 67.5% stake in Cushman & Wakefield, the world' largest privately-held real estate advisor, for EUR 430 mln. The acquisition was announced last December.
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PropertyEU Archive
Land Securities reckons on £315 mln conversion charge
Land Securities has estimated that it will have to pay a £315 mln (EUR 467 mln) conversion charge to the inland revenue in the UK next July following the company's decision last January to become a real estate investment trust (REIT). The charge represents 2% of the value of its ...
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PropertyEU Archive
ProLogis pre-leases 10,700 m[sup]2[/sup] in Romania
ProLogis has pre-leased 10,700 m[sup]2[/sup] of industrial space in Bucharest to Kuehne + Nagel, a provider of third-party logistics services. Kuehne + Nagel will occupy space at ProLogis Park Bucharest A1, a new industrial park ProLogis is developing along Bucharest's A1 motorway. The facility is due to completion in the ...
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PropertyEU Archive
Metrovacesa's split plan unveiled
Metrovacesa's major shareholders Joaquin Rivero, Bautista Soler, and the Sanahuja family have agreed an exchange rate of 1.7 Metrovacesa shares for each share of its French unit Gecina. The deal values Metrovacesa's at EUR 75.67 per share and Gecina's at EUR 129.36, the investors have told the Spanish stock exchange ...
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PropertyEU Archive
Cushman Hotels poaches teams from KPMG and CBRE
Cushman & Wakefield Hotels has announced the appointment of specialist hotel teams lured from KPMG in London and from CB Richard Ellis in Prague. Nick Pattie, head of London-based KPMG hospitality and leisure advisory services, is joining C & W Hotels as managing director. He brings with him Philip Camble ...
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News
Unlisted UK real estate returned 69%in 2006
REAL ESTATE - Unlisted UK real estate funds returned 69% last year, driven by the outperformance of the City and West End, according to the Association of Real Estate Funds (AREF). The association’s newly launched quarterly report claims th...
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News
DivcoWest buys property in Texas
REAL ESTATE - DivcoWest has closed on the purchase of an office building in Austin, Texas. The real estate fund manager paid $49m (€37.3m) for the Parmer Business Park in Austin. The property was acquired from pension fund manager RREEF....
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News
Welsh scheme to invest €19m in unlisted property
REAL ESTATE – Welsh local authority Powys County Council is tendering for a multi-manager to handle £13m (€19m) of European (ex. UK) unlisted real estate for its pension fund. An investment panel of five local councillors will ap...
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News
RREEF in new joint venture for US apartment deals
REAL ESTATE – Major manager RREEF has formed a joint venture with Bainbridge Capital, LLC to invest in apartment complexes in certain markets across the US. There is no set amount of capital that has been allocated to the venture. Transacti...
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News
IVG issuing €400m of convertible bonds for growth purposes
REAL ESTATE – German real estate firm IVG says it has issued €400m worth of convertible bonds for the purpose of financing future growth and large acquisitions. IVG sold the convertibles last week to primarily European institutional in...
