Latest reports – Page 3770
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News
Dutch real estate funds target for foreign investors
REAL ESTATE - International bank Merrill Lynch expects that Dutch real estate funds will be a main target for foreign investors. Several possible take-over candidates have been stated by Merrill Lynch in its report on the European real estate sec...
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News
New Jersey allocates $150 million into two commingled funds
REAL ESTATE- The New Jersey Division of Investment has approved real estate investments totaling $150m (€115m) into two commingled funds. One of these was a $100m allocation into the Prudential Property Investment Separate Account II. This ...
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News
Rodamco sells flagship office building
REAL ESTATE - Property investment and management company Rodamco Europe has sold its building Robeco house in Rotterdam, to increase its focus on shopping centres, it announced. Robeco House - one of Rodamco’s flagship buildings - has been a...
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News
San Diego City commits capital to apartment fund
REAL ESTATE - San Diego City Employees’ Retirement System has approved a $20m (€15.5m) commitment to the Cornerstone Apartment Venture III, LLC. This is a commingled fund that is managed by Cornerstone Real Estate Advisers. The real e...
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News
CS Capital nears closing on Los Angeles development fund
REAL ESTATE- CS Capital Management is set to have a final closing in March on its commingled fund, Los Angeles Development Partners. The projected total raise is in the neighborhood of $250m (€193m). There will be a total of eight or nine p...
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News
L&B to raise second medical office fund
REAL ESTATE- L&B Realty Advisors is now marketing its second medical office building investment fund, L&B Medical Partners II. The person overseeing this fund for the company is director Jason Blake. He said, "We believe that instit...
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PropertyEU Archive
Sunrise to boost its presence in UK
US-based Sunrise Senior Living is to invest up to EUR 770 mln to develop assisted-living communities in the UK in a joint venture with Prudential Financial's property investment arm. Sunrise plans to develop 18 communities in the UK over the next four years through its new joint venture with N.J.-based ...
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PropertyEU Archive
ING to develop Akzo Nobel's new Amsterdam HQ
Chemicals giant Akzo Nobel has chosen ING Real Estate to develop its new corporate headquarters in Amsterdam. Akzo chairman Hans Wijer said the company was moving from its current base in the eastern Dutch city of Arnhem to the Dutch capital to improve international access to the headquarters and help ...
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PropertyEU Archive
Pirelli RE may buy HVB property funds
Pirelli Real Estate and another unidentified fund are bidding for two property funds currently owned by the Unicredito Italiano's German unit HypoVereinsbank, Italian newspaper IlSole24Ore reported on Sunday. The combined value of the funds is estimated to be about EUR 2.5 bn.
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PropertyEU Archive
Slough Estates to undo Tesco joint venture
Slough Estates is to unwind its 50/50 property joint venture with Tesco, the largest supermarket group in the UK, newspaper the Sunday Telegraph reported, citing a statement by Slough's ceo Ian Coull.
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PropertyEU Archive
Scottish Widows buys BAM HQ
Scottish Widows Investment Partnership (SWIP) has acquired the regional headquarters of Dutch construction group BAM from BAM Utiliteitsbouw and OVG Projectontwikkeling who are developing the building together. Construction work on 7,000 m[sup]2[/sup] BAM house is to start in February and the building is to be delivered by February 2008. The ...
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PropertyEU Archive
Warimpex to sell 10 million shares
Vienna-based Warimpex Finanz und Beteiligungs plans to raise EUR 130 mln through the sale of 10 million shares at a price between EUR 8.5 and EUR 13 per share. The offer comprises six million new shares and four million existing shares, including an over allotment option of one million shares, ...
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PropertyEU Archive
Accor buys control of 52 Dorint hotels
International hotel manager Accor has announced the acquisition of a 90% stake in a hotel portfolio comprising 52 Dorint hotels in Germany. The transaction price comes to EUR 127 mln and brings the total number of hotels operated by Accor in the country to 331. The company previously owned a ...
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PropertyEU Archive
Corestate buys German residential portfolios
Frankfurt-based Corestate Capital has acquired six residential portfolios spread across Germany for EUR 58 mln. The portfolios include 1,640 residential units in Frankfurt/Main, Hanover, Leipzig and Erfurt. The net initial yield of the transactions ranges between 8.5% and 9.5%.
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PropertyEU Archive
Deutsche Wohnen purchases mixed-use portfolio
German listed property company Deutsche Wohnen has announced the purchase of 426 residential and 12 commercial units from the insurance company LVM. The acquisition price ranges between EUR 41 mln and EUR 43 mln.
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PropertyEU Archive
Grosvenor purchases Paris retail park
International property group Grosvenor has acquired a 18,000 m[sup]2[/sup] retail park in Claye Souilly, France, for EUR 34 mln. The 17 retail units are located 25 km east of Paris and serve a population of about 200,000 inhabitants. Anchored by a Carrefour hypermarket that has been recently extended to include ...
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PropertyEU Archive
DDE buys German portfolio for EUR 266 mln
AIM-listed property company Develica Deutschland Limited (DDE) has announced it is to acquire a German first-class office portfolio for EUR 266.3 mln in cash. The price reflects a net initial yield of 5.87%, Develica said in a press release.
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PropertyEU Archive
GBP acquires Foncia stake for EUR 800 mln
Paris-based bank Groupe Banque Populaire (GBP) has agreed to acquire a 60.93% stake in the property management company Foncia Groupe for around EUR 800 mln. Banque Popularie, France's fifth-largest bank, is acquiring the shares from the founder Jacky Lorenzetti and his family holding company SEIP, which will retain about a ...
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PropertyEU Archive
Countrywide takeover vote rescheduled
Countrywide, the UK's largest residential real estate broker, has postponed a shareholder meeting to approve the EUR 1.473 bn takeover bid by the private equity group 3i after it became clear that the number of shareholders voting against it was much higher than expected. Europe's biggest publicly traded buyout ...
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PropertyEU Archive
GE RE targets Italian retail
GE Real Estate has completed the purchase of its first retail mall in Rome from the Aareal Italy Fund for EUR 60 mln and said it plans to invest a further EUR 386 mln to EUR 540 mln in the Italian retail and office sectors in 2007.
