Latest reports – Page 3759
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PropertyEU Archive
Report highlights 'Eastern promise' and 'Teutonic triumph'
Cities in the emerging markets of central and eastern Europe as well as secondary cities in established markets are set to benefit from the excess of investment in European commercial property this year, a joint report by the Urban Land Institute (ULI) and PricewaterhouseCoopers has suggested.
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PropertyEU Archive
Paris stays ahead of London in investment league: ULI
Paris has beaten London for the second year in a row to retain first place in terms of European property development and investment prospects for 2007, according to a report launched at the Urban Land Institute (ULI) European conference in the French capital on Tuesday.
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PropertyEU Archive
Land Securities buys PPP firm for EUR 798 mln
Land Securities Trillium (LST), the property partnership unit of British property giant Land Securities, has completed the acquisition of the specialist public private partnership (PPP) firm Secondary Market Infrastructure Fund (SMIF) for £527 mln (EUR 798 mln). The sellers were STAR Capital Partners, Halifax Bank of Scotland and AMP Capital. ...
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PropertyEU Archive
Ablon raises EUR 132 mln in IPO
Hungarian real estate developer Ablon has raised EUR 132 mln in an initial public offer (IPO) in London designed to help fund expansion. Ablon said in a statement it has sold 35 million shares at EUR 3.78 each to institutional investors, which amounts to 33% of the company's share capital.
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PropertyEU Archive
Zlote Tarasy opens its doors this week
Dutch-based ING Real Estate has appointed international property advisor Cushman & Wakefield to manage Zlote Tarasy, the 225,000 m[sup]2[/sup] shopping mall in Warsaw. After a string of delays, the mixed-use complex will open its doors on February 7.
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PropertyEU Archive
Hypo RE finances Luxembourg Plaza
Hypo RE Bank International has provided EUR 52.5 mln of senior debt to the Czech Orco Property for the financing of the Luxembourg Plaza building. This fully-let complex ranks among one of the most modern office buildings in Prague and provides 22,000 m[sup]2[/sup] of Class A office space, together with ...
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PropertyEU Archive
Vivum, Matrix Immobilien to invest EUR 20 mln in German mall
Germany-based Vivum and Matrix Immobilien will invest about EUR 20 mln in a shopping centre located in Waiblingen, northeast of Stuttgart, Germany. The mall provides some 6,500 m[sup]2[/sup] of retail space and 219 underground parking spaces, German newspaper Immobilien Zeitung reported. The occupancy rate of the retail development is currently ...
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PropertyEU Archive
Vornado sweetens offer as EOP battle continues
Vornado, the second-largest real estate investment trust (REIT) in the US, has offered to pay the cash portion of its $23.2 bn (EUR 17.9 bn) bid for its larger peer Equity Office Property (EOP) up front after EOP's board decided to continue to back the takeover bid by private equity ...
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PropertyEU Archive
Rodamco purchases office buildings
Rotterdam-headquartered Rodamco has acquired six office buildings in the Leidsenhage shopping centre in the Dutch city of Leidschendam from IEF Capital, a joint venture between Bouwfonds Asset Management and Inflation Exchange Fund (IEF), for EUR 24 mln.
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PropertyEU Archive
Kazakhstan developer plans LSE listing
Kazakhstan property company Chagala is planning a £100 mln flotation on the London Stock Exchange in a bid to raise capital for further expansion. Run by British-born ceo Timothy Abson and Spaniard Javier del Ser, Chagala specialises in building western-style hotels and serviced flats for the oil industry based around ...
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PropertyEU Archive
Sainsbury's sale rumours confirmed
Private equity firms CVC, Kohlberg Kravis Roberts and Blackstone have admitted they are in the preliminary stages of assessing a possible offer for the UK's third-biggest supermarket group Sainsbury's. Market rumours that Sainsbury's was a takeover target boosted the company's shares by 18% to 526.5p on Friday, valuing the supermarket ...
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PropertyEU Archive
Development Securities, Miller join forces in UK project
UK-based Development Securities has teamed up with the urban regeneration specialist Centros Miller to redevelop the Southern Gateway site in Crawley, south of England, for a residential-led, mixed-use scheme. The revamp includes a 18,580 m[sup]2[/sup] scheme on a 0.9-hectare site, including retail units on the ground floor and six storeys ...
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PropertyEU Archive
Newomij launches German residential fund
Dutch private property company Newomij is to start investing in German residential property via a new fund, Dutch Real Estate Investments. Based in Cologne, the fund aims to build up a portfolio worth EUR 200 mln over the next five years. The fund will invest mainly in existing and new ...
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PropertyEU Archive
Hypo RE Bank issues €1.5 bn bond
Hypo Real estate Bank has launched a €1.5 bn Senior Unsecured Benchmark bond. It carries a variable coupon of three-months-Euribor +0.125% and matures in three years. The reoffer-spread has been set at +20 bp over three-months-Euribor and the reoffer price has been fixed at 99.786%.
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PropertyEU Archive
EOP rejects $41 bn Vornado bid
Equity Office Properties Trust has rejected a $41 bn offer from Vornado, saying a $38.3 bn bid by rival Blackstone is less risky for shareholders. Equity Office said a sale to New York-based Vornado would take months to complete while a buyout by Blackstone could be completed within days.
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PropertyEU Archive
City office rates set to rise further
Office rents in London's financial district are expected to increase by more than 10% in 2007, fuelled by a surge in demand from lawyers and accountants, according to research by estate agent chain DTZ.
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PropertyEU Archive
CBRE buys into Portuguese company
Property adviser CB Richard Ellis is to acquire a 30% stake in Portuguese hotel and leisure property specialist Neoturis. Financial details were not disclosed. CBRE has secured the right to buy the remaining shares at a later date.
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PropertyEU Archive
Castellum snaps up Swedish commercial portfolio
Castellum has acquired a fully-let portfolio of five properties spread over the port city of Halmstad in southwest Sweden, for close to €24 mln. The lettable area of the portfolio amounts to about 30,000 m2, of which 9,300 m[sup]2[/sup] consists of retail, 6,700 m[sup]2[/sup] of office and 14,000 m[sup]2[/sup] of ...
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PropertyEU Archive
Polis purchases property near Milan
Real estate fund Polis has acquired a mixed-use complex from Italian Societa Alfa Logic and Holding Cinque V in Gorgonzola, near Milan, for €40.4 mln. The complex includes three logistics premises and an office building providing a gross lettable area of 47,800 m[sup]2[/sup]. The initial yield of this transaction comes ...
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PropertyEU Archive
Fund managers switch to office space
Property fund managers are shifting their attention to offices at the expense of shops and shopping centres, according to figures from Investment Property Databank (IPD). For the first time in five years, offices were more in demand than retail last year amid fears that some investors have paid too much ...
