Latest reports – Page 3775
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PropertyEU Archive
GE RE buys Wasquehal office buildings
GE Real Estate has acquired six office buildings under development from the property developer Palm Promotion for around EUR 19 mln, through a sale prior to completion agreement (VEHA).
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PropertyEU Archive
FCC wins EUR 116 mln contract
Spain-based Fomento de Construcciones y Contratas (FCC) has been awarded a EUR 116 mln contract for the development of a new bridge over the Danube river which will bond Bulgaria and Rumania, the company told the Spanish national stock exchange agency CNMV.
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PropertyEU Archive
Development Securities sells Cavendish Walk freehold
UK-based Development Securities has announced the sale of the freehold interest in the Cavendish Walk shopping centre in Huyton, near Liverpool, for close to EUR 36 mln. In a press release, the company said it opened the new 10,219 m[sup]2[/sup] shopping centre in November 2006, after it purchased the site ...
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PropertyEU Archive
Moorfield acquires EUR 125 mln Cornmil mall
UK-based Moorfield has acquired the Cornmill shopping centre in Darlington from the property management firm Investream for EUR 125,5 mln. The value reflects a net initial yield of 5.25%.
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PropertyEU Archive
DIFA 'to sell' EUR 1 bn of German assets
DIFA, the German open-ended real estate fund, intends to sell off more than EUR 1 bn of real estate in Germany, an unidentified company source is saying in the Financial Times Deutschland. The source said DIFA has assigned Atisreal to find buyers for approximately 40 buildings and land plots. Germany ...
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PropertyEU Archive
Tishman Speyer buys CAA London HQ
Tishman Speyer has announced the acquisition of the London headquarters of the UK’s Civil Aviation Authority from private investors on behalf of its fund TSEV. The financial details of the investment have not been disclosed. Farebrother acted as Tishman Speyer’s advisor on the transaction, CB Richard Ellis represented the seller.
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PropertyEU Archive
Halladale disposes of Baytree mall for EUR 61.7 mln
Halladale, the AIM-listed co-investing property company, has disposed of the Baytree Centre in the UK to property fund O Twelve Estates for £41.6 mln (EUR 61.7 mln). The price reflects a net initial yield of 4.78%.
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PropertyEU Archive
Kadans acquires GTI office, factory space
Dutch real estate company Kadans Vastgoed has acquired 10,400 m[sup]2[/sup] of office and 14,000 m[sup]2[/sup] of factory space from international technical service provider GTI. Property advisor DTZ Zandelhoff acted for GTI as part of the reorganisation of GTI's property strategy in various regions in the Netherlands. Some of ...
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PropertyEU Archive
AMB opens Paris office
American investment fund AMB is opening a management office in Paris. The fund, listed on the New York stock exchange, acquired a building from the property management company Unibail in the 8th arrondissement (district) in Paris. AMB has a portfolio of close to 12 million m[sup]2[/sup] spread across North ...
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PropertyEU Archive
London meeting to explore European REIT market
The advent of real estate investment trusts (REITs) in the UK and similar legislation in Germany and Italy has ensured that REITS continues to be a hot topic among real estate professionals in Europe. A new index for UK REITS was launched on Thursday, while a recent proposal for separate ...
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PropertyEU Archive
Bouygues sells Bristol building for EUR 35 mln
Bouygues Immobilier, the property division of France's Bouygues, has sold the 'Bristol' building to a foreign fund for EUR 35 mln, excluding taxes, in a sales prior to completion agreement (VEHA). The asset is located on Pommiers in Val-de-Marne, Northern France. The Arthur Loyd company acted as advisor in the ...
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PropertyEU Archive
AFI to invest in 10 projects in Eastern Europe
AFI Europe is to acquire 10 real estate projects in Europe from Israel-based BSR Europe for EUR 140 mln. The investment company will buy the seller's entire stake in the projects, which are in Poland, Latvia, Slovakia, Hungary, Bulgaria and Cyprus, news agency Reuters has reported.
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PropertyEU Archive
AAIM confirms luxury hotel deal
Active Asset Investment Management (AAIM) has confirmed it bought a portfolio of six luxury hotels in a 25-year sale-and-leaseback deal from the private equity firm Permira for EUR 400 mln. Premira is backed by Manchester United manager Sir Alex Ferguson and music impresario Simon Cowell.
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PropertyEU Archive
Nozar buys EUR 76 mln factory in Madrid
Construction company Nozar has acquired a building from the Spanish liftmaker Zardoya Otis for EUR 76 mln, to be paid by 2010. The building, located in Madrid, houses one of the lifts' factories owned by Zardoya. In a statement, Zardoya said it expects the profit of the transaction to be ...
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PropertyEU Archive
Blackrock Intl acquires Dublin plot
Dublin-based property company Blackrock International Land has acquired a plot of land near Dublin for EUR 13.5 mln, including costs. The purchase, which will be accounted for in 2006, brings total investments made by Blackrock since its listing in May 2006 to about EUR 155.5 mln, which represents an increase ...
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PropertyEU Archive
Atisreal secures 5 office deals in Madrid
Property advisor Atisreal has secured five new office deals in Madrid. Real estate company C-15 has acquired a building to house its headquarter in Madrid. The office building, with an area of about 700 m2, is located at 23 Oquendo street, near the central Avenida de America.
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PropertyEU Archive
El Corte Ingles buys property firm for EUR 480 mln
Department store chain El Corte Ingles has acquired real estate company Ason from the Reyzabal family for EUR 480 mln. The Spanish property group owns the Madrid plot of land where the landmark Windsor office tower stood in the heart of the city before the blaze in February 2005 ...
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PropertyEU Archive
Cordea Savills acquires student flats in UK
Cordea Savills, the European property fund management firm, acquired Penworks Studios in Birmingham, England for EUR 20 mln. The asset is a five-storey residential building with 150 flats for students. It has been added to Cordea Savills' U.K.-based Student Hall Fund, which now has five properties encompassing 2,215 total flats ...
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PropertyEU Archive
GE RE acquires two office buildings in Nantes
GE Real Estate has acquired two office building development in western France from the property company Eiffage Immobilier Ouest for EUR 9.1 mln. The assets, located in Orvault, near Nantes, provide an total area of 5,598 m[sup]2[/sup]. They were purchased through a sale prior-to-completion agreement (VEFA) and will be delivered ...
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PropertyEU Archive
Sponda to finance Kapiteeli takeover with share issue
Helsinki-based property group Sponda intends to raise up to EUR 250 mln through a share issue to finance the acquisition of the Finnish real estate investment company Kapiteeli. The transaction in mid-December 2006 doubled Sponda's real estate portfolio to about 2 million m[sup]2[/sup] of total leasable area across Finland.
