Latest reports – Page 3772
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PropertyEU Archive
Savills slumps as CBRE sells 19% stake
Property advisor Savills suffered a drop on the London Stock exchange on Thursday when it emerged rival CB Richard Ellis had sold the 19% stake in Savills at 623 pence per share. CBRE obtained the stake, owned by Trammel Crow Company, when it bought Trammel last year for $2.2 bn.
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PropertyEU Archive
Rezidor Hotel Group buys new hotels in 4 countries
Stockholm-listed Rezidor Hotel Group has acquired two new Park Inn developments in Sweden and the UK, and two more hotel developments in Ukraine and the United Arab Emirates. The Park Inn development in Stockholm, which adds to other 15 Park Inn hotels in Sweden, will provide 177 rooms on 18 ...
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PropertyEU Archive
REITs provide retail investors with 'new opportunities'
REITs campaign group Reita has emphasised that real estate investment trusts can provide retail investors with new opportunities to invest in commercial property. Reita comments follows a statement by F & C AM, which claimed that REITs 'will not provide a substitute for investing in property directly'.
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PropertyEU Archive
Standard Life launches two global REIT funds
Standard Life Investment, one of the largest property fund managers in Europe, has announced the launch of two new global property funds aimed at institutional and retail investors in the UK and Europe.
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PropertyEU Archive
GAGFAH acquires EUR 370 mln residential portfolio
Germany-based GAGFAH has announced the purchase of 5,900 residential units in Berlin for EUR 370 mln. The properties are in several areas of Berlin and have a total gross lettable area of 360,000 m[sup]2[/sup]. The vacancy rate for the portfolio comes to 11.2%. The gross yield ghas been estimated to ...
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PropertyEU Archive
D2 Private invests EUR 164 mln in Fortress House
Dublin-based property investor D2 Private has acquired the landmark building Fortress House in London for around EUR 164 mln. The building housed the former headquarters of English Heritage, the English commission on historic buildings and monuments.
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PropertyEU Archive
Cerberus snaps at Blackstone's heels in EOP deal
US private equity firm Cerberus Capital Management is reportedly preparing to launch a rival bid for Equity Office Properties (EOP), the largest office landlord in the US. The prospect of a bidding war is the latest twist in a saga which began in November when EOP, part of the empire ...
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PropertyEU Archive
Aberdeen property fund purchases 7 assets
Aberdeen Property Fund Denmark has acquired seven commercial properties in Denmark covering some 110,000 m[sup]2[/sup] for EUR 90 mln. Five of the properties are located in the Greater Copenhagen area and two logistics premises are located in Horsens, Eastern Jutland.
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PropertyEU Archive
CapMan RE I's portfolio sale to be completed by January
CapMan RE has announced that the sale of 22 commercial properties managed by its Fund I to an investor group formed by Samson Properties, the Royal Bank of Scotland (RBS) and Ajanta Oy is expected to be completed on January 31, 2007. The company also said the transaction will not ...
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PropertyEU Archive
Westfield unveils Stratford vision
Shopping centre group Westfield has unveiled its vision for the 180-acre Stratford City development in east London, claiming the project will be underpinned by some of the most sustainable development standards ever applied to an urban development in the UK.
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PropertyEU Archive
German office market picked up in Q4
The German office market in the five major business cities performed far better than expected in the fourth quarter of 2006 despite forecasts in the first nine months of a decline in take-up for the full calendar year.
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PropertyEU Archive
Foreign investors to swoop on Dutch listed funds
Dutch listed property funds will likely be targetted by foreign investors this year due to the removal of legal obstacles, researchers at merchant bank Merrill Lynch have suggested. In a report published this week on the European real estate sector in 2007, Merrill Lynch said: 'The greatest surprise comes from ...
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PropertyEU Archive
Rokeby to develop 54,000 m[sup]2[/sup] plot
UK-based Rokeby Developments has been awarded a 54,864 m[sup]2[/sup] development for mixed use at Antelope Park, in Southampton. The project, located on the south coast of England, will include a 13,716 m[sup]2[/sup] of retail area leased to the department store The Range and 27,432 m[sup]2[/sup] of leisure space. Construction is ...
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PropertyEU Archive
Patrizia issues 4.73 million new shares
Germany-based investment company Patrizia Immobilien's Board has announced the issue of 4.73 million new ordinary shares, equivalent to 9.98% of the company's share capital. The proceeds are intended to finance the recent and future portfolio acquisitions. No further details on the pricing of the capital increase were disclosed.
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PropertyEU Archive
Grupo Mateus to open 9 Portuguese retail centres
Portugal-based property development company Grupo Mateus has announced it is to develop a new shopping mall in Portalegre, Portugal. The centre, designed by Sao Mamed Shopping, is the second retail centre developed by the group, with the first one developed and sold in 2006. The company said it intends to ...
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PropertyEU Archive
CGI sells Dutch office property to Italian fund
German fund Commerz Grundbesitz Investgesellschaft (CGI) has sold the Gateway Centre in the Netherlands to Europa Immobiliare No 1, a real estate fund run by Italy's Vegagest, for about EUR 43 mln. The Gateway Centre is located in Amstelveen, a municipality neighbouring Amsterdam, and is leased to Fortis Bank Netherlands.
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PropertyEU Archive
SEB buys 2nd factory outlet in the Czech Republic
Germany-based SEB ImmoInvest has signed a preliminary contract for the purchase of the factory outlet development Airport Praha through its open-ended real estate fund for EUR 93 mln. Factory outlet centres are a virtually new concept for Czech consumers, the company said in a statement. Once completed, Airport Praha will ...
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PropertyEU Archive
Newstone to invest EUR 80 mln in office development
Business property promoter Newstone will develop a 21,000 m[sup]2[/sup] office development in the Stade de France district of Saint-Denis, a northern suburb of Paris. The investment will amount to about EUR 80 mln. The operation will be carried out in partnership with a major Anglo-Saxon fund, French property newspaper Business ...
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PropertyEU Archive
Fimit acquires EUR 76 mln office development
Fondi Immobiliari Italiani (Fimit) has acquired a 29,000 m[sup]2[/sup] plot of land from a private investor through its listed property fund Alpha, Beta, Gamma and Sigma Immobiliare. The total investment value comes to EUR 76.7 mln. The plot is located in the commercial district New Fair near Rome, between Fiumicino ...
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PropertyEU Archive
Sistema-Hals to develop Saint-Petersburg mall
Russian property development company Sistema-Hals JSC intends to develop a 100,000 m[sup]2[/sup] Hals Mart retail and entertainment complex in Saint Petersburg. The company said that Sistema-Hals Group's unit Hals-Invest Development has signed a 12-year EUR 144 mln credit agreement with the bank Eurohypo to finance the development of the shopping ...
