Latest reports – Page 3778
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PropertyEU Archive
Citycon to build retail centre in Finland
Finland's Citycon has reached an agreement with Swedish construction company Skanska to build a new retail centre in the Tampere region of Finland. The retail centre's leasable area totals around 12,000 m2, of which approximately half will be leased to discount store chain Tokmanni.
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PropertyEU Archive
ProLogis to develop French facility for Michelin
ProLogis has announced it is to develop a 32,000 m[sup]2[/sup] distribution centre for tire manufacturer Michelin in the south-western French city of Poitiers. As part of the deal, ProLogis is to acquire the 32-hectare site of a recently-closed Michelin plant in Poitiers.
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PropertyEU Archive
Pirelli RE, GE buy EUR 2.4 bn non-performing loans
Italian property giant Pirelli RE and General Electric, through its subsidiaries GE RE Italia and Commercial Finance Services Italia, said they have acquired five portfolios of non-performing loans with a gross book value of some EUR 2.4 bn from Banca Antonveneta and its Interbanca unit.
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PropertyEU Archive
JLL seals large lettings in Edinburgh
Morley Fund Management has agreed tenancy contacts for two floors at Causewayside House in Edinburgh. Property advisor Jones Lang LaSalle, which acted for Moley, said the deals at the end of December were among two of the largest lettings in the Scottish city in 2006.
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PropertyEU Archive
Astroc sells Landscape's assets for EUR 650 mln
Spanish real estate company Astroc Mediterraneo has announced the sale of several assets of its Landscape Promocions Immobiliaries property arm to General Electric RE Iberia for close to EUR 650 mln.
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PropertyEU Archive
Ferrovial sells RE unit for EUR 2.2 bn
Spanish construction group Ferrovial has signed a preliminary agreement with peer Habitat for the sale of its real estate subsidiary Ferrovial Inmobiliaria. The company said in a press release at the end of December that the sale, with a total enterprise value of EUR 2.2 bn, will be completed this ...
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PropertyEU Archive
Befimmo to sell shares after winning Belgian contract
Brussels-based real estate investment vehicle Befimmo is to issue shares to raise between EUR 180 mln and EUR 200 mln following the coup at the end of December when it snatched a Belgium government real estate contract from rival Cofinimmo.
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PropertyEU Archive
Dutch office take-up passes 2 million m[sup]2[/sup] in 2006
Office take-up in the Netherlands passed the 2 million m[sup]2[/sup] mark for the second year in a row in 2006, according to provisional figures compiled by property magazine PropertyNL. Amsterdam (400,000 m2) and Rotterdam (200,000 m2) were the strongest performers, while the take-up level in several smaller Dutch cities was ...
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PropertyEU Archive
Deutsche Land buys Airport offices for EUR 200 mln
UK listed real estate company Deutsche Land has purchased the new Main Airport Centre (MAC) office complex at Frankfurt Airport for EUR 200 mln. The transaction, which is subject to shareholder approval, is deemed to be a reverse takeover. As a result, trading in the company's shares were suspended ...
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PropertyEU Archive
VastNed O/I acquires Mechelen Campus properties
Dutch office property investor VastNed Offices/Industrial has acquired the Mechelen Tower and building F properties in the business park Mechelen Campus in Belgium for EUR 27.9 mln from developer Macquarie Goodman. The buildings, which are to be delivered in June 2007, have a combined floor space of 15.400 m2, ...
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PropertyEU Archive
Largest Romanian investment deal brokered by DTZ
Global real estate adviser DTZ has completed the largest office investment deal in Romania on behalf of Europolis RE Asset Management. The transaction involves an investment of EUR 90 mln in order to complete the purchase of the first-phase of Sema Parc development, Freeman European News has reported.
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PropertyEU Archive
Land Securities becomes REIT heavyweight
British real estate giant Land Securities confirmed that it has elected real estate investment trust (REIT) status as of January 1. 'From today, we have become of the three largest REITs in the world and the UK's largest REIT by market capitalisation,' commented ceo Francis Salway in a statement issued ...
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PropertyEU Archive
Klepierre takes stake in large French malls
France's Klepierre has acquired stakes in several large malls in France for a total investment of EUR 109.6 mln. The leading shopping centre manager in continental Europe said it has signed a memorandum of agreement to take full equity ownership of the Progest group owned by Henry Hermand, as ...
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PropertyEU Archive
Italy, France and UK to join REIT club in mid 2007
Italy is to follow the example of the UK and Germany by introducing a real estate investment trust (REIT) next year. On Thursday the Italian parliament passed the 2007 Budget Law which contains the REIT legislation.
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PropertyEU Archive
Colonia acquires 2,199 more residences in Berlin
Colonia Real Estate has announced the signing of a contract to purchase 2,199 residential units in Greater Berlin for EUR 72.50 mln. The portfolio comprises 121,000 m[sup]2[/sup] of residential and 14,000 m[sup]2[/sup] of office space as well as 1,013 parking spaces.
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PropertyEU Archive
VastNed enters German market
VastNed, the Dutch-based office property investor, has taken its first step into the German market by acquiring an office building for EUR 34.6 mln in the prime Medienhafen business district of Dusseldorf. The property comprises 9,570 m[sup]2[/sup] of lettable area and has 52 underground parking place.
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PropertyEU Archive
Summit acquires five properties for EUR 58.8 mln
Summit Germany, a commercial property investment company listed on AIM in London, has announced it is to acquire five additional properties in Germany for a total investment of EUR 58.8 mln. The deal will reflect an average net yield of 7% per annum and 7.8% on full occupancy.
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PropertyEU Archive
Arab Investments acquires German portfolio for EUR 50 mln
Arab Investments has acquired a portfolio in Berlin from the Bauwert Property Group for approximately EUR 50 million, property advisor Savills has reported. The portfolio comprises 14,800 m[sup]2[/sup] of office and retail properties located in top locations in Berlin, Wuppertal and Karlsruhe.
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PropertyEU Archive
Teesland accepts 'Scamp' takeover offer
Teesland, the Edinburgh-based property fund manager, has agreed a £200 mln (EUR 298 mln) takeover offer from SCAMP Holdings, a property company controlled by chairman of Sheffield United football club Kevin McCable. SCAMP, whcih accounts for a substantial portion of Teesland's business, is offering 159.25 pence a share for ...
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PropertyEU Archive
Brussels poised to decide on property sell-off
The Belgium government is to decide today on the winning bid for the controversial sale of 62 state properties. The transaction, expected to raise EUR 500 mln, has to be finalised by the end of the year to help balance the budget. Belgian newspaper De Tijd reported on Thursday that ...
