Latest reports – Page 3768
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PropertyEU Archive
Vornado submits $38 bn counter-bid for Equity Office
The prospect of the largest bidding war in the history of the real estate has moved one step closer after a group led by Vornado Realty Trust, the second largest real estate investment trust in the US, submitted a $38 bn (EUR 26 bn) counter-bid for peer Equity Office Properties, ...
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PropertyEU Archive
AXA REIM purchases 3 buildings in France
AXA Real Estate Investment Managers (AXA REIM) has purchased three logistics buildings in France through its Spanish unit Ahorro Familiar for EUR 46.2 mln. The properties are located in north-eastern France and have been acquired through a sale-and-lease-back agreement with the transportation group Transalliance, news agency Europa Press reported.
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PropertyEU Archive
Big Yellow REIT conversion is 'not guaranteed'
UK-based Big Yellow Group said that a disagreement with UK tax officials may derail its plan to convert to a REIT. The officials object to the change in tax treatment of the company's rental income. Big Yellow will hold further talks with the tax authorities and aims to proceed with ...
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PropertyEU Archive
Pramerica buys Eastern Europe portfolio for EUR 198 mln
Pramerica Real Estate Investors has acquired an office portfolio in Prague and Warsaw from BA-CA Real Invest for EUR 198 mln. The portfolio, purchased through an auction organised by the real estate advisor CB Richard Ellis, was previously owned by the closed-ended fund Immobilieninvestments.
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PropertyEU Archive
British Land buys Birmingham prime office building
British Land has acquired a EUR 38 mln building in the British city of Birmingham. Previously occupied by the lender NatWest, the building is located in the prime city office site, in the heart of Birmingham. The UK group has appointed the architects Hamiltons to design a new 'high quality ...
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PropertyEU Archive
C&W opens new office in Romania
International property advisor Cushman & Wakefield has opened an office in Romania as part of its strategy to become more active in central and eastern Europe. Romania is the largest market in the region after Poland.
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PropertyEU Archive
Hotel sector restructuring to benefit property investors
The European hotel sector has seen strong investment activity in 2006, with a number of corporate initiatives coming from the sector leaders, the real estate investment bank Eurohypo said in a new report. The lender estimates the global transaction volume in 2006 will amount to EUR 60 bn, after EUR ...
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PropertyEU Archive
Aberdeen buys in Finland, enters Germany
Aberdeen Asset Management has acquired a commercial portfolio in Finland valued at EUR 280 mln from the Finnish insurance and pension group Ilmarinen. The purchase includes 47 properties spread across the cities of Helsinki, Tampere, Turku, Oulu and Vaasa.
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PropertyEU Archive
Large investments in UK property market
Several real estate groups have announced investments in new real estate projects in UK in recent days. The retail sector leads the charge with a EUR 130 mln buy of four retail parks across the country by Scottish Widows Investment Partnership (SWIP), and Thornfield Properties has been appointed for ...
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PropertyEU Archive
Boston Consulting to lease 6,400 m[sup]2[/sup] in Amsterdam's Zuidas
The Boston Consulting Group (BCG) has become the second major international company to announce this week that it is moving to the Zuidas business district in Amsterdam. The management consulting firm is to lease 6,400 m[sup]2[/sup] spread over the 5th, 4th and part of the 3rd floor of the SOM ...
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PropertyEU Archive
Redevco buys retail site in Bratislava
The Slovakian subsidiary of Redevco Central Europe has purchased almost 30,000 m[sup]2[/sup] of land in Bratislava for a retail development. The plot was sold for an undisclosed sum by the Slovakian subsidiary of Generali Immobilien on 1 January.
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PropertyEU Archive
Roche & Dubar invests EUR 10 mln in Lille region
Lille-based property company Roche & Dubar has completed three acquisitions in northern France for about EUR 10 mln. The purchases include a 1,500 m[sup]2[/sup] office building under development acquired from developer Palm for EUR 2.7 mln. The transaction value reflects a yield of 8%. The group also purchased two 7,300 ...
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PropertyEU Archive
BGI launches new real estate trackers
Barclays Global Investors (BGI), a provider of Exchange Traded Funds (ETFs), has listed five new iShares ETF Trackers on Euronext in Amsterdam. Three of the trackers will follow the FTSE EPRA/NAREIT Asia Property Yield index, US Property Yield index and Global Property Yield index.
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PropertyEU Archive
ING RE to develop retail centre in Le Havre
ING Real Estate Development has signed an agreement to purchase 60,000 m[sup]2[/sup] of land in Docks Vauban in the harbour area of the French city of Le Havre for the development of a new retail and leisure centre. UNESCO added the famous port city to its world heritage list in ...
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PropertyEU Archive
Riofisa to invest EUR 120 mln in Madrid project
Spanish property company Riofisa has acquired a 330,000 m[sup]2[/sup] plot of land in Torrejon de Ardoz, 18 km from Madrid, to develop a logistics and office centre on the site. The company said in a press release that it plans to invest EUR 120 mln in the Megacampus Logistico development.
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PropertyEU Archive
Endesa bidding war moves closer to resolution
Spanish courts have removed the final legal obstacles to the presentation of takeover bids for Endesa. Madrid judges lifted an injunction against the gas supplier Gas Natural on Wednesday, six days after the Supreme Court also removed the injunction, therefore unblocking Gas Natural's EUR 21 bn cash-and-share offer to Endesa ...
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PropertyEU Archive
Great Portland to pay EUR 43 mln to become REIT
UK-based Great Portland Estates (GPE) will pay EUR 43.2 mln to convert to one of the first real estate investment trusts (REIT) in the UK. GPE estimates that the switch would eliminate tax liabilities of almost EUR 193.4 mln. The group also announced on Wednesday that the valuation of its ...
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PropertyEU Archive
Immofinanz sells EUR 750 mln in convertible bonds
Immofinanz Immobilien has announced the EUR 750 mln sale of convertible bonds. The placement was offered solely to institutional investors and involved 49.4 million shares at a conversion price of EUR 15.18, reflecting a 32% premium over the EUR 11.5 reference share price.
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PropertyEU Archive
E-Capital, Caisse des Depots buy 3500 m[sup]2[/sup] of retail
E-Capital and Caisse des Depots' H2 unit have acquired the Hippodrome shopping centre in Reims, northern France from the National Public Establishment for Commercial and Artisan Area Development and Restructuring (EPARECA), Caisse d'Epargne Champagne-Ardennes and SEM Reims development.
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PropertyEU Archive
Jeronimo Martins may rush store openings in Poland, Portugal
Portugal's second biggest retailer Jeronimo Martins is planning to open 90 new stores in Portugal and between 300 and 360 in Poland from 2007 to 2009, newspaper Diario de Noticias reported citing an official source of the company.
