Latest reports – Page 3785
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PropertyEU Archive
AM seeks to beef up in Randstad with takeover
Dutch developer AM has announced it has signed a letter of intention for the takeover of peer De Wilgen Vastgoed in a move designed to strengthen AM's position in the Randstad conurbation in the west of the Netherlands. AM, which is a developer of homes, town centres, malls and offices ...
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PropertyEU Archive
SFL sells Paris property for EUR 42 mln
Societe Fonciere Lyonnaise (SFL) has sold a mixed-use property in Paris to real estate company Norfeu for EUR 42 mln. The 6,770 m[sup]2[/sup] building in the 17th arrondissement (district) of the French capital has retail, office and residential units. It generates an annual rent of EUR 1.8 mln.
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PropertyEU Archive
HypoVereinsbank sells off offices
HypoVereinsbank of Bavaria has sold a real estate portfolio of 86 properties to Vaerde Partners as part of HVB's strategic reorientation away from non-core activities. Nearly 60% of the 442,000 m[sup]2[/sup] commercial property portfolio consists of offices. Over 75% of the properties are in western Germany and Berlin. The financial ...
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PropertyEU Archive
DIC Asset raises EUR 185 mln in share issue
German real estate company DIC Asset AG has raised about EUR 185 mln by issuing 8.16 million new shares, increasing the company's share capital from EUR 20.34 mln to EUR 28.5 mln. The subscription ratio for the 8.16 million new shares was 99.96%.
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PropertyEU Archive
Israeli firms plan apartments in Romania
Jerusalem-based YH Dimri Construction & Development is to buy a Romanian real estate company that owns a 2.5-hectare plot of land in Bucharest for 660 apartments. Globes online said Dimri has signed a preliminary agreement to buy the firm and it is now seeking partners to acquire up to 40% ...
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PropertyEU Archive
2006 record year for German deals
Single and portfolio transactions in the German real estate sector are expected to reach a record EUR 42 bn this year, almost double the EUR 24 bn in deals in 2005, according to Andreas Volker, managing director of Atisreal Consult.
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PropertyEU Archive
Aareal makes 'double-digit' profit on Interhotel sale
Interhotel, which operates 250 hotels throughout France, is to sell its properties in a deal that will generate a 'double-digit million euro' profit for Aareal Bank, holder of a 33% stake in the hotel group.
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PropertyEU Archive
Milan Bank to merge with Italian property company
Banca Popolare di Milano has announced the takeover of the property arm of Bipiemme bank, conditional on acquisition of a 9.11% stake in the property company's capital, Italian Newspages Realestate reported. These shares are currently owned by peer Banca di Legnano. The operation is likely to be successful since Legnano ...
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PropertyEU Archive
Citigroup raises EUR 1.1 bn for European property fund
Citigroup's property arm has raised a total of $2.1 bn (EUR 1.58 bn) for its first high-return real estate funds that are designed to cash in on the investor demand for alternatives to stocks and bonds.
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PropertyEU Archive
Spanish builders win EUR 60 mln rail contract
A consortium, led by Spain property groups FCC, Sacyr and San Jose, was awarded contracts worth EUR 59.41 mln for the development of Zaragoza's high speed rail link in Southern Spain. The construction company FCC has been awarded the largest contract, which amounts to EUR 29.74 mln, by the ...
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PropertyEU Archive
Reubens bros in EUR 237 mln buy from Redevco
Redevco UK has sold a building housing a Primark store on Oxford Street in London's West End to the Reuben Brothers for more than £160 mln (EUR 237 mln). The transaction reflects an initial yield of over 4%.
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PropertyEU Archive
BNP Paribas exercises Klemurs over-allotment option
BNP Paribas bank has fully exercised the over-allotment option arising from the IPO of French property company Klemurs last week, resulting in the purchase of 73.125 existing shares sold by Klemurs' parent, Klepierre. The total number of Klemurs shares offered stands at 560,625 and increases the value of the ...
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PropertyEU Archive
Beni Stabili acquires Rome building for EUR 108 mln
Italy's Beni Stabili has announced the purchase of a building in central Rome for EUR 108 mln, Italian Newspages Realestate reported. The property company won the bidding run by the city's municipality in June 2006, and it has moved forward with the acquisition this month. The property covers a ...
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PropertyEU Archive
GE buys German offices for EUR 140 mln
GE Real Estate Germany has acquired a portfolio of 18 office buildings in western Germany for approximately EUR 140 mln from insurance company HDI-Gerling Lebensversicherung. Twelve buildings in the 88,000 m[sup]2[/sup] portfolio are in the top seven business in the west of the country, namely Berlin, Dusseldorf, Frankfurt, Hamburg, Koln ...
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PropertyEU Archive
Former HSBC exec launches RE investment firm
Former executives of HSBC and Jones Lang LaSalle have established a new real estate investment bank. The founding partners of Lowndes Partners in London are Maxwell James, Richard Choi and Julie Green.
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PropertyEU Archive
Befimmo signs up for first Luxembourg project
Belgium's Befimmo is making its first investment in Luxembourg with a deal for the purchase of the shares in Axento, a company that owns an 'upmarket' office and retail real project on the Kirchberg Plateau in the north-east of Luxembourg City.
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PropertyEU Archive
Carpetright rolls out across Europe
Carpetright has confirmed it is planning major expansion in Europe, either through acquisitions or by direct openings of new stores. Lord Harris, the chairman of Europe's largest floor covering group, unveiled the strategy as he reported profits were up 17% to £26 mln (EUR 38.6 mln) for the first half ...
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PropertyEU Archive
Sacyr may yet sell Eiffage stake in seat dispute
Spanish property development company Sacyr Vallehermoso may sell its 32,1% stake in French builder Eiffage due to the latter's refusal to offer the Sacyr a seat at the board table, according to the business website elConfidencial.com.
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PropertyEU Archive
Keops extends time for EUR 313 mln deal
Danish developer Keops has extended the time for Essex Invest Sverige to finalise financing for the purchase of 68 properties in Sweden for SEK 2.85 bn (about EUR 313 mln). Under the original agreement Essex Invest Sverige had until December 10 to secure financing but this has now been pushed ...
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News
CalSTRS commits $100m to emerging manager fund
REAL ESTATE - The California State Teachers Retirement System has made a $100mn commitment to the Scout Fund that is being managed by Hawkeye Partners. This commingled fund will look to sign up between six to eight emerging managers for the fund....
