Latest reports – Page 3757
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PropertyEU Archive
Martinsa's full bid for Fadesa approved
Property group Martinsa's EUR 4.045 bn takeover bid for Spanish peer Fadesa Immobiliaria has received the green light from the country's stock market regulator CNMV. In a statement, the stock authority said the bid of EUR 35.70 per share is conditional on a minimum acceptance of 54%. It noted, however, ...
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PropertyEU Archive
Rutley buys remainder of Mosse Centre
Rutley European Property has purchased the sections of the Mosse Centre in Berlin it did not previously own, for EUR 54 mln. The listed UK company took over 25,000 m[sup]2[/sup] of office and industrial space, which house, among other companies, publishing firm Druckhaus Berlin-Mitte.
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PropertyEU Archive
Stockland makes EUR 260 mln offer for Halladale Group
Sydney-based investor Stockland is keen to enter the UK and has launched a £170 mln (EUR 260 mln) takeover bid for AIM-listed property company Halladale. The Australian property group has made an offer of 225p per share, which represents a 33.9% premium to Halladale's closing share price on Tuesday.
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PropertyEU Archive
Lisney set to develop Cork business park
Irish Lisney has received planning permission by Cork county council for its EUR 100 mln business park development near the city of Cork, southern Ireland. The Harbour Point Business park will involve 14 blocks providing some 28,000 m[sup]2[/sup] on a 17-hectare greenfield waterfront site. Planning permission has been granted for ...
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PropertyEU Archive
ULI and PWC see property market slowdown
After several years of compression, prime property yields are set to stabilise in 2007, according to a report published by the Urban Land Institute and PricewaterhouseCoopers. The report, entitled Emerging Trends in Real Estate Europe, sees only slight further compression this year on the back of a calmer investment environment ...
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PropertyEU Archive
Ex-Irish PM calls for policy changes on immigration
Europe needs to address the problem of low population growth if it is to remain competitive in the rapidly changing international environment. This was one of the key messages delivered by former Irish prime minister John Bruton to the eleventh annual conference of the European section of the Urban Land ...
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PropertyEU Archive
Rok keen to build EUR 45 mln business park
West Country-based Rok Development is planning a £30 mln (EUR 45.5 mln) business park in Clevedon, south-west of England. The construction company has submitted planning permission to North Somerset council to build a park on a 20-acre site at Kenn Road, opposite the Kenn Business Park.
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PropertyEU Archive
ING RE faces new delay in Warsaw
ING Real Estate faces a new delay on the acquisition of a 23.15% stake in Polish retail and office complex Zlote Tarasy ('the golden terraces' ) in Warsaw . The city council, which currently owns the stake, wants to await the outcome of an assessment of the project before determining ...
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PropertyEU Archive
HIM sees office expansion
Irish Hibernian Investment Managers (HIM) is willing to reinvest the capital raised from the EUR 47 mln sale of Carrisbrook House in Ballsbridge in modern city-centre offices, newspaper The Sunday Business Post has reported.
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PropertyEU Archive
Acta snaps up EUR 429 mln Swedish portfolio
Kuwait Finance House (KFH) has sold its Swedish real estate portfolio for EUR 429 mln, realising a net profit of EUR 77 mln, KFH's manager at the International Real Estate Department Ali Othman Al-Ghannam said during a press conference. The portfolio has been sold to a fund of Acta, an ...
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PropertyEU Archive
Beni Stabili acquires Milan building for EUR 38m
Beni Stabili Real Estate fund (IREF) has purchased a mixed-use building at Via Agnello 18, in Milan, northern Italy, for EUR 38 mln. In a statement, Terenzio Cugia di Sant'Orsola, managing director of the Italian group, said the property has retail units on the ground floor and office space ...
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PropertyEU Archive
'Semi pan-European REIT' likely within next ten years
The chances that a pan-European real estate investment trust (REIT) will emerge in the next five to ten years are very slim, according to Michael MacBrien, head of the European Property Federation. 'What I do see evolving is a semi pan-European REIT with a select number of EU states taking ...
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PropertyEU Archive
Martinsa's takeover offer for Fadesa get financing
Fernando Martin's real estate company Martinsa announced it has signed an agreement to finance its EUR 4.045 bn takeover bid for peer Fadesa. The Spanish businessman has agreed to pay EUR 100 mln from his own pocket if Martinsa does not abide to the debt ratio agreed with the banks ...
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PropertyEU Archive
GIC acquires 10% of Brixton
Britain's largest mortgage and savings provider HBOS has sold half of its stake in property company Brixton to avoid running foul of tax rules for real estate investment trusts (REITs). Brixton said in a statement that HBOS has cut its stake from 20.6% to 10.2%, through the sale of about ...
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PropertyEU Archive
MFI to plough EUR 1 bn into Turkish retail
Essen-based management company Management fur Immobilien (MFI) is planning to invest up to EUR 1 bn in the Turkish retail market, the company said during a press conference, attended by Turkish prime minister Recep Tayyip Erdogan.
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PropertyEU Archive
Property-backed bonds hit European record
Bonds backed by residential and commercial mortgages will dominate the European market this year, according to an article in the Financial Times. The newspaper cited a report by the leading industry body European Securitisation Forum (ESF) and stated that the issuance of bonds backed by mortgages and other debt in ...
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PropertyEU Archive
McKay Securities seeks backing for REIT conversion
UK-based McKay Securities will convert to REIT status from April 1, 2007, the company has announced. McKay, a UK property group focused on office and industrial property in the south east, will hold an extraordinary meeting of shareholders on February 28 to approve a change in its articles of association ...
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PropertyEU Archive
Sotohenar buys Coca-Cola's Madrid HQ
Coca Cola's Spanish unit has sold its Madrid headquarters to Spanish property company Sotohenar for an undisclosed amount. According to a statement by property advisor Cushman & Wakefield, Coca-Cola will remain a tenant on a three-year leasing contract.
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PropertyEU Archive
Ascencio in EUR 45 mln IPO
Ascencio, a Belgian commercial property real estate fund, is to sell EUR 45.6 mln worth of shares in an initial public offering, researchers at merchant bank Kempen & Co have said. Ascencio will offer some 894,000 existing shares, about 30% of the total, at EUR 47 to EUR 51 a ...
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PropertyEU Archive
VastNed expands further in Turkey
Pan-European retail investor VastNed Retail has entered Turkey with the purchase of an Istanbul shopping mall for EUR 9.7 mln. Newly built, the Sisli mall comprises 4,850 m[sup]2[/sup] of retail space as well as 200 parking spaces. Located in one of the most prominent districts of the city, the mall ...
