Latest reports – Page 3754
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PropertyEU Archive
Astroc to raise EUR 2 bn for international plans
Valencia-based property group Astroc Mediterraneo has announced it will raise as much as EUR 2 bn by issuing new shares to finance expansion abroad. In a statement to Spanish stock market regulator CNMV, the company said its board has already got approval during a shareholder meeting on Monday for the ...
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PropertyEU Archive
Befimmo in EUR 600 mln refinancing proposals
Brussels-based real estate investment vehicle Befimmo has asked 15 banks to come up with a EUR 600 mln refinancing proposal, Belgium daily De Standaard reported. The lenders will formulate proposals involving a capital hike by issuing shares or an equity-linked product, debt refinancing and the possibility to taking a co-investor ...
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PropertyEU Archive
AMF may block Credit Foncier bid
Saving banks consortium Groupe Caisse d'Epargne and French property company Nexity have begun 'exclusive negotiations' to set up a major property group by July 2007, with Groupe Caisse d'Epargne merging its Credit Foncier real-estate financing unit with Nexity.
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PropertyEU Archive
Annexum buys six Golden Tulip hotels
Annexum Invest has bought six Golden Tulip hotels in the Netherlands for an undisclosed sum. The hotels are located in Amersfoort, Epe, Hoenderloo, Loosdrecht and two are in Beekbergen. They are all four-star hotels and have a total of 577 bedrooms and 110 function rooms. Annexum bought the hotels as ...
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PropertyEU Archive
Invesco buys three Paris offices
Invesco Property Income Trust has purchased a portfolio of French office properties for EUR 85 mln. The portfolio comprises three Paris buildings providing some 21,620 m[sup]2[/sup]. The properties are leased to 21 tenants and have an occupancy rate of 96.5%. The transaction reflects an initial yield of 6.5%, including a ...
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PropertyEU Archive
DTZ sells Lyon commercial portfolio
French property investment and management company Docks Lyonnais has acquired a portfolio of 60 commercial units in Lyon from property advisor DTZ Asset Management and Cargill for about EUR 100 mln.
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PropertyEU Archive
US law firm signs up for Broadgate development
International law firm Mayer, Brown, Rowe & Maw is to move its UK operations to 20,700 m[sup]2[/sup] of office space at 201 Bishopsgate, one of the two new flagship developments at Broadgate in the City of London. The firm agreed non-binding heads of terms for the pre-letting with property giant ...
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PropertyEU Archive
Develica acquires Blue Star office portfolio
Develica Deutschland has exchanged contracts to acquire the Blue Star portfolio in Germany for EUR 266.3 mln in cash. It is understood that the properties are owned by Hamburg-based capital investment company Deutsche Fonds Holding (DFH). However, DFH has not made any comment.
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PropertyEU Archive
Citycon places 25m shares to fund expansion
Helsinki-based Citycon has placed 25 million shares, approximately 15% of the company's share capital, with Finnish and international investors in an accelerated book-building offering. The process began on Monday and was due for completion by 6.30pm on Tuesday. The offer price was not disclosed. Citycon's board said in a statement ...
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PropertyEU Archive
Demand continues to drive Bucharest's real estate market
Bucharest's commercial real estate market is entering a new stage of development and growth, according to the latest 'Emerging City Winners' report issued by the global property consultant Jones Lang LaSalle (JLL). Bucharest is expected to have achieved over 9% GPD growth in 2006, making it Europe's fastest growing city ...
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PropertyEU Archive
IVG set to issue EUR 400 mln convertible bonds
German IVG Immobilien is planning to raise EUR 400 mln by selling convertible bonds to finance further acquisitions, IVG informed in a press release issued on Tuesday. The bonds, with a maturity of 10 years, will be convertible into about 11.6 million shares for each bond.
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News
RREEF joins with Epiphany for luxury residential club venture
REAL ESTATE – Property firm RREEF has formed an equity joint venture with Epiphany Capital Partners that will invest in the luxury residential club industry. RREEF had been looking for some time at investing in the residential club business....
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News
San Diego County approves investment in apartment commingled fund
REAL ESTATE - San Diego County Employees Retirement System has allocated a $25m(€19m) commitment into the Cornerstone Apartment Ventures III, LLC. The pension fund took this action on its real estate portfolio at its board meeting earlier ...
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News
Corio buys 40% stake in Turkish retail centre
REAL ESTATE - Property developer and manager Corio has acquired a 40% stake in a Turkish retail centre in a €55m transaction, it said. The deal involves the Teras Park shopping centre, comprising of 55,000m2 of gross lettable area, current...
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News
New York State Teachers invests in two euro commingled funds
REAL ESTATE - The New York State Teachers Retirement System has approved real estate investments in two commingled funds outside the US. One was a €28m commitment to the CB Richard Ellis Strategic Partners UK Fund III. The other was a ?...
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News
ING opens delayed €500m Warsaw retail landmark
REAL ESTATE - After a one-and-a-half year’s delay, ING Real Estate has officially opened its €500m landmark retail centre Zlote Tarasy in Central Warsaw. The mixed-use project of Zlote Tarasy - ‘Golden Terraces’ - covers 6...
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News
Euro-REITS take off as US veterans de-list
REAL ESTATE - European investors are looking to real estate for high yields and low volatility – except Dutch pension funds, which are looking for geographic diversification, according to a RREEF report into the global real estate securities ma...
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News
HSBC considers selling Canary Wharf HQ
REAL ESTATE - UK banking giant HSBC is considering selling off its UK headquarters in Canary Wharf in a 15-year sale-and-leaseback deal. No price tag has yet been attached to the world’s largest single-occupier building. An HSBC spokesman s...
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News
ECP to focus on increased exposure in Sweden
REAL ESTATE - Euro Commercial Properties will focus on increasing its present exposure of 19% in Sweden, it announced. The property investor and developer has budgeted €220m for upgrading and developing its existing retail centres within its...
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News
Missouri pension fund creates real estate allocation
REAL ESTATE - The Missouri Local Government Employees Retirement System has established a real estate allocation for the first time. The amount that was approved is 5% of its total assets. The pension fund made this decision at its recent board m...
