Latest reports – Page 3781
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PropertyEU Archive
PHP joins the REIT waiting list
Shareholders of Primary Health Properties (PHP) have backed the proposal to convert the company to real estate investment trust (REIT) status next year.
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PropertyEU Archive
AAM to re-launch Giulia shopping centre
Aareal Asset Management has completed the redevelopment of Giulia shopping centre in the northern Italian city of Trieste. Built in 1992, Giulia was the first shopping centre in the city and is conveniently located in a central and densely populated neighbourhood. The development provides 50 retail units over the 15,200 ...
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PropertyEU Archive
Klemurs beefs up with 128 Buffalo Grills
Within two weeks of its public listing, real estate company Klemurs has finalised the acquisition of 128 Buffalo Grill restaurants in France. Klemurs said ion a statement on Tuesday that it expects to generate net full-year rents of EUR 18.7 mln for a total investment of EUR 299.8 mln.
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PropertyEU Archive
Brixton sells Tipton estate for EUR 52 mln
Brixton, the UK property developer and manager, has sold its stake in the Vaughan Trading Estate at Tipton, Birmingham, to the Kenmore Group of Companies for £35.75 mln (EUR 52.7 mln).
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PropertyEU Archive
Intesa bank acquires 5% stake in NH Hotels
Italian bank Intesa has acquired a 5% stake in NH Hoteles for EUR 95 mln, unnamed financial sources have told Spanish news agency Europa Press.
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PropertyEU Archive
JLL best 'RE agency' in Hungary
International property advisor Jones Lang LaSalle has won the 'Best Real Estate Agency' award by Hungarian readers of the Construction & Investment Journal (CiJ). The magazine has been published throughout the Central European Europe (CEE) since 1995, and also in Russia since January 2006.
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News
MEPs’ fund goes into real estate
REAL ESTATE - The €190m (£127.85m) Members of European Parliament Pension Fund is moving away from bonds in favour of euro-zone property to increase the diversification within its portfolio. The news was first announced in a press relea...
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News
VastNed acquires properties Madrid properties
REAL ESTATE - Retail real estate fund VastNed has acquired two properties in a top location in Madrid, it announced. In a €10m transaction, VastNed purchased shop-premises of 256m2 and 120m2 respectively in the Calle de Fuencarral, a shoppin...
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News
German Upper House wants housing REITS
REAL ESTATE – The Bundesrat, the Upper House of the German parliament, has opposed excluding municipal housing from German REITs, which are to be introduced next year. The representatives of the German provinces argued that an exclusion of ...
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News
Italian REITs ‘set for slow start’ – Merrill
REAL ESTATE - Merrill Lynch last week gave a warm response to the Italian government’s decision to introduce REITs in July 2007, although it hinted that the REITs market would have a slower start than the UK and Germany. In a research note ...
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News
US schemes back international REITs
REAL ESTATE - More US pension funds based are looking at placing capital into international REITs. Two of the most recent examples of this are State Universities Retirement System of Illinois and the Orange County Employees Retirement System....
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News
Schroders buys German real estate manager
REAL ESTATE - Schroders says it has agreed to buy German real estate asset manager Aareal Asset Management GmbH for an initial £18.8m (€28m) from Aareal Bank. Wiesbaden-based AAM has €1.9bn in assets under management and manages s...
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News
Eurocastle acquires €2.1bn Deutsche portfolio
REAL ESTATE - Eurocastle, the offshore real estate investment vehicle of US private equity firm Fortress, has acquired a 61-property German portfolio from DB Real Estate for €2.1bn. The firm will fund the deal via a combination of the procee...
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News
LA mulls new real estate investments
REAL ESTATE - The Los Angeles City Employees’ Retirement System will be looking at investing in the MacFarlane Urban Real Estate Fund II and Buchanan Fund V. The move came at its investment committee meeting on December 4. These investment...
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News
Land Securities converts to REIT
REAL ESTATE - Land Securities has confirmed that it is to convert into a Real Estate Investment Trust on January 1 next year following its Extraordinary General Meeting. It said 99.1% of shareholders backed the decision. The conversion will result...
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News
Massachusetts PRIM allocates extra $300m
REAL ESTATE - The Massachusetts Pension Reserves Investment Management Board has set aside $300m for a value-added strategy through one of its separate account real estate managers. Mass PRIM has Lou Canlas as senior investment officer for real es...
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News
Germany’s NAEV ups real estate exposure
REAL ESTATE – Germany’s NAEV, a €7.75bn medical pension fund, will expand investments in real estate investment trusts (REITs) and other real estate securities over the next three years, says Hermann Aukamp, NAEV’s director of...
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PropertyEU Archive
SFL sells EUR 53 mln Paris property to fund
Societe Fonciere Lyonnaise (SFL) has sold a mixed-use property at 3 rue de la Boetie in the 8th arrondissement (district) of Paris to a fund managed by Lasalle Investment Management for EUR 53.25 mln.
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PropertyEU Archive
Italy's REIT 'not beneficial' for foreign companies
Italy's Senate has approved legislation to introduce tax-efficient real estate investment trusts (REITs) as part of the 2007 Finanziaria budget law. The vote in the Senate took place on Saturday and the next step is for the Finanziaria to get final approval by the Camera dei Deputati this week, Italian ...
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PropertyEU Archive
Brixton, Liberty shareholders agree REIT conversion
UK property companies Brixton and Liberty International have separately announced amendments to their articles of association have been passed by extraordinary general meetings to allow them to convert to real estate investment trust status (REIT).
