Latest reports – Page 3758
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PropertyEU Archive
Avadis buys Swiss assets for EUR 137 mln
Swiss pension fund BLPK has sold 23 properties valued at EUR 137 mln to asset manager Avadis. The deal involved BLPK obtaining an interest in Avadis equal to the value of the assets sold. The assets are located in and around the Swiss city of Basel, north-west of the country.
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PropertyEU Archive
Pirelli RE joins SIIQs debate
Pirelli Real Estate, the largest quoted property company in Italy, has joined the debate over the introduction of SIIQs, the Italian equivalent of real estate investment trusts (REITs). In an interview with Italian newspaper La Repubblica, Pirelli RE dismissed concerns that the proposed launch of the Italian REIT is causing ...
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PropertyEU Archive
Acciona snaps up Barcelona stadium mall
Spanish property company Acciona Inmobiliaria has acquired 100% of the retail space at the Real Club Deportivo Espanyol stadium, currently under development in Barcelona. The shopping centre, sold by property companies Grupo Lar and Grosvenor, is scheduled for completion in 2009, fifteen months after the opening of the stadium. Grupo ...
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News
London’s Croydon diversifies into real estate
The fund, which is currently exclusively invested in equities, is seeking a real estate investment manager for a 10-year contract to manage a property portfolio of between £40m—£60m (€60.5m—€91m).
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News
Rockpoint Group raises $500m for new commingled fund
REAL ESTATE - The Rockpoint Group has raised approximately $500m(€387m)of equity for its newest commingled fund, Rockpoint Finance Fund I. The commingled fund has a unique investment strategy. The large majority of its transactions will be ...
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News
VastNed mulls €50m shares offering for expansion
REAL ESTATE -The pan-European retail property investment fund VastNed Offices-Industrial is considering an €50m share offering to finance future acquisitions, it announced. VastNed intents to place the shares privately with institutional inv...
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News
Angelo Gordon raises $160m for net-lease fund
REAL ESTATE - Angelo, Gordon & Co recently finished the money raising portion of its latest commingled fund, AG Net Lease Realty Fund LP. The total amount of equity in the fund is $160m(€124m). The alternative investment manager attract...
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News
UK commercial outperforms equities – for now, says IPD
REAL ESTATE - Property outperformed both UK equities and bonds in 2006, returning 17.9% against 16.8% for UK equities and –0.1% for bonds, according to figures just published by IPD. However, at 3.7% Q4 delivered a return slightly down from...
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News
Pennsylvania Public School to place up to $525m in real estate
REAL ESTATE - The Pennsylvania Public School Employees Retirement System has approved investments in two commingled funds that could total $525m(€406m). The pension fund took this action at its recent board meeting Pennsylvania Public Schoo...
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News
Corio to invest €85m in European retail centres
REAL ESTATE - Property investor and manager Corio has entered into agreements on the extension and redevelopment of retail centres in France and Holland, for a total amount of over €85m, it has announced. In an €18.3m transaction, Cori...
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News
UBS in JV with Alder to exploit southeast US opportunities
REAL ESTATE - UBS Global Asset Management and the Alder Group have formed a joint venture to invest in up to $300m(€232m) worth of assets in the southeast in the US. The debt to equity ratio for the transactions are 60%-40%. The venture wil...
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News
Oklahoma pension fund to invest in real estate for first time
REAL ESTATE - The Oklahoma Police Pension and Retirement System has decided to invest in real estate for the first time with a new commingled fund manager search. The pension fund has Judy Collins at its chief financial officer. She said: "...
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News
Rodamco in four-for-one share split move
REAL ESTATE - Property investor and manager Rodamco Europe proposes to split its shares to increase its liquidity and accessibility. At its next annual general meeting, the company will ask shareholders to agree to a split in the ratio of 4 new sh...
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News
Swiss pension fund sells 23 properties to Avadis and mandates Arlington
REAL ESTATE – BLPK, a CHF5bn (€3.1bn) Swiss pension fund, has sold 23 properties worth CHF221m to asset manager Avadis to diversify its real estate portfolio. BLPK said that as part of its deal with Avadis, it had obtained a shareholdi...
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News
Institutions could miss out on slice of €1bn ‘gherkin’
REAL ESTATE - Reinsurance firm Swiss Re has sold its landmark London headquarters in St Mary Axe to – known to Londoners as The Gherkin – to German property firm IVG for £630m (€950m). IVG acquired the building for one of i...
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PropertyEU Archive
HSBC confirms HQ sell-off plan
HSBC, Europe's largest bank by market value, has confirmed it plans to sell its London headquarters in Canary Wharf through a sale-and-leaseback agreement. The building is expected to fetch up to £1 bn (EUR 1.5 bn), making it the most expensive single office building in Britain.
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PropertyEU Archive
Terrace Hill gets go-ahead for Maidenhead offices
AIM-listed property group Terrace Hill has been granted planning permission to build two office buildings at the Vanwell business park in the south-eastern town of Maidenhead in England. Completion of this two Class A office buildings is scheduled for March 2008.
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PropertyEU Archive
IVG buys Gherkin office for EUR 950 mln
IVG has confirmed it acquired the London office building at 30 St Mary Axe for EUR 950 mln, in a 50/50 joint venture with Evans Randall. The statement by IVG follows market rumours last week about the German property fund's interest in the landmark office building known as the ...
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PropertyEU Archive
Sonae Sierra strengthens its presence in Algarve region
Portuguese shopping mall specialist Sonae Sierra has acquired two retail centres in the Portuguese cities of Albufeira and Portimao for EUR 32 mln. The investment was made through a 50/50 joint venture with GREP, a fund managed by the property group Grosvenor.
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PropertyEU Archive
ProLogis set to buy Parkridge
Prologis, the world's largest owner, manager and developer of distribution facilities, is close to completing the EUR 800 mln purchase of John Cutts' Parkridge, in what it said to be Europe's biggest industrial property takeover, newspaper Property Week has reported.
