Latest reports – Page 3782
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PropertyEU Archive
EUR 1.4 bn UK student digs fund set up
The Unite Group has completed the formation of the £1 bn (EUR 1.4 bn) Unite UK Student Accommodation Fund. At the closing of the fund, equity commitments received from leading third party institutional investors totalled £297 mln, an increase of £31 mln above the level when the fund was announced ...
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PropertyEU Archive
Irish groups buys Dutch offices for EUR 46 mln
Blackrock International Land has acquired a portfolio of six office buildings in the Netherlands for a total consideration of EUR 46.5 mln. The properties located in The Hague, Nijmegen, Tilburg and Maastricht comprise a total of 24,270 m[sup]2[/sup].
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PropertyEU Archive
Hemisferio acquires 5% stake in Metrovacesa
Spanish savings bank Bancaja has sold its 5.176% stake in Metrovacesa to the local investment company Hemisferio for EUR 632 mln. Bancaja said it sold almost 5.27 million Metrovacesa's shares at EUR 120 each, meaning Metrovacesa's chairman Joaquin Rivero has lost an ally, Spanish newspaper Cinco Dias has ...
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PropertyEU Archive
Citycon acquires Swedish mall for EUR 60 mln
Citycon is acquiring the Tumba Centrum shopping centre in the municipality of Botkyrka, south of Stockholm from Doughty Hanson & Co for SEK 550 mln (around EUR 60.8 mln). The deal is expected to close by the end of January 2007. On the acquisition date, the shopping centre's initial net ...
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PropertyEU Archive
Deutsche EuroShop, ECE acquire Bavarian mall
Deutsche EuroShop has said it has acquired a 75% stake in shopping centre Stadt-Galerie Passau in Bavaria for around EUR 95 mln. ECE Group is the investment partner on the deal and will be responsible for planning, development, leasing and center management. Deutsche EuroShop said this transaction meant it has ...
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PropertyEU Archive
Beni Stabili sells assets
Italian real estate company Beni Stabili has announced it has sold two commercial assets and a residential portfolio owned by Beni Stabili's Comit Fund. The two office properties, purchased by the listed property group Investitori & Partner Immobiliari, are located in Milan, Beni Stabili said in a press release. The ...
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PropertyEU Archive
X-Leisure sells home of Europe's largest casino
Capital & Regional has said that its X-Leisure fund has exchanged contracts unconditionally to sell Star City in Birmingham to REIT Asset Management for £85.5 mln (about EUR 127 mln). Completion of the transaction is set for January 18, 2007.
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PropertyEU Archive
Gecina buys Defense complex for EUR 350 mln
Gecina, a listed French real estate trust (SIIC), has announced it is acquiring the 58,000 Defense Ouest real estate complex from developer HRO for a total of EUR 350 mln. The complex, which is still under construction, is part of the new Portes de la Defense business district in the ...
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PropertyEU Archive
Riofisa in talks to acquire property company
Riofisa is in advanced talks to acquire a property company in Central Europe, Spanish national newspaper El Pais has reported, citing the financial manager Miguel Rodriguez. Riofisa, Spain's largest shopping centre developer, wants to acquire a company abroad to expand in Europe and an agreement may come in the first ...
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PropertyEU Archive
DIC Asset, Morgan Stanley buy EUR 147 mln portfolio
DIC Asset, the real estate investor listed on the Frankfurt stock exchange, has purchased a portfolio of 51 properties from Landesbank Berlin (LBB) for a total investment of EUR 147 mln. Morgan Stanley Real Estate Funds (MSREF) is DIC' Asset's financial partner in the deal and is paying 50% of ...
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PropertyEU Archive
BSR Europe buys into Warsaw Marriott
BSR Europe, a subsidiary of Israeli property company BSR Europe, has teamed with a Polish and a French company to buy the Warsaw Marriott hotel for EUR 118 mln. Each of the partners owns one third of the hotel, Globes Online has reported. The partners are financing EUR 66 ...
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PropertyEU Archive
Pirelli RE acquires facility management firm
Pirelli RE has acquired Ingest Facility, a facility management company, for EUR 50 mln, the Italian real estate giant has announced in a press release. Pirelli RE Facility Management, a subsidiary of Pirelli RE, has been awarded the bidding for Ingest Facility, a listed company owned by the Fiat Group, ...
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PropertyEU Archive
C&W's Russian office advises on Gazpom-city
Cushman & Wakefield Stiles & Riabokobylko, the Russian office of the global property consultant, has been appointed by Gazprom Neft Invest to advise on the preliminary construction concept for Gazprom-City, a new business and administrative centre in the Russian city of St Petersburg.
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PropertyEU Archive
European property equities 'strong' in 2007
Through careful stock selection and a short term bias towards offices, property equities in the UK and Europe could provide returns of up to 12-15% during 2007, according to a report by Henderson Global Investors.
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PropertyEU Archive
Curzon fund buys Dutch properties
The Curzon Funds Group of IXIS AEW Europe has purchased an 18 asset portfolio of office buildings, warehouses, and mixed use properties across the Netherlands on behalf of the fund. 'The portfolio, totalling over 118,000 m2, is a well-diversified, quality portfolio which gives this core-plus fund a solid entry into ...
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PropertyEU Archive
Unitech Corp. Parks lists on AIM
Unitech, India's largest publicly traded real estate firm, has placed 360 million ordinary shares at 100 pence each with investors in its initial public offering on the London Stock Exchange's Alternative Investment Market. Deutsche Bank has been granted an over-allotment option to sell up to a further 54 million ordinary ...
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PropertyEU Archive
VastNed acquires EUR 55 mln retail park
Vastned Retail has acquired a retail development in the southern Dutch city of Roermond for EUR 55.2 mln. Work has just begun on the complex and when completed in the 2008 it will comprise 36,200 m[sup]2[/sup] plus parking for 1,250 vehicles. The gross average rent will be about EUR 105 ...
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PropertyEU Archive
Inmoracal, Colonial approve 40 for 3 share swap
Spanish property company Colonial said its merger with peer Inmocaral group was approved by both boards with an agreement for a share swap of 40 Inmocaral shares valued at EUR 0.12 each for every three Colonial shares valued at EUR 3, Spanish newspaper Cinco Dias has reported.
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PropertyEU Archive
HSH bids for Hamborner
HSH Real Estate has acquired a 50% stake plus one share in Hamborner and is offering to buy the rest of 8.3 million shares at between EUR 32.17 and EUR 32.50 per share. This second step would cost EUR 267 mln. Hamborner's principal activity is the acquisition and management ...
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PropertyEU Archive
Italy to reform land registration system
Italian government has announced it will start to decentralise some aspects of the management of cadastre, or land registry. The decision represents an important step towards the country's progressive decentralisation and supports the efforts now under way to facilitate inward investment into public sector property. Data exchange between the cadastre ...
