Latest reports – Page 3802
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PropertyEU Archive
Italian mafia moving in on German real estate
Italian organised crime is gaining a foothold in real estate and other business sectors in Germany, and has invested cash from drugs and weapons smugglings to buy up large packages of shares in companies listed on the Frankfurt stock exchange, the Berliner Zeitung has reported.
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PropertyEU Archive
2006 record year for shopping centres
2006 is a record year for investment in shopping centres in Italy, with 26 new malls opening and a further million m[sup]2[/sup] coming within the next year, said Thomas Casolo and Piero Cangelutti, managers of the multinational real estate consultancy Cushman & Wakefield.
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PropertyEU Archive
David Ross and Morgan Stanley team up in fund
David Ross, the entrepreneur who co-founded the Carphone Warehouse, has teamed up with US investment bank Morgan Stanley to establish a property company, The Financial Times reported. Named Kandahar Real Estate, the company already owns £500 mln ( EUR 714 mln) in property contributed by the two partners. Morgan Stanley ...
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PropertyEU Archive
Treveria to raise EUR 250-300 mln for acquisitions
Dawnay, Day Treveria, the listed property investment company focused on the German market, has announced it is to raise EUR 250-300 mln through a placing of approximately 205 million ordinary shares to institutional investors to fund additional acquisitions over the next 12 months. The placing price for the new shares ...
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PropertyEU Archive
Slough Estates acquires portfolio for EUR 103 mln
Slough Estates International has reached agreement with Antalis, the European communication media and paper distributor, to acquire a portfolio of about twenty logistic and business properties in Europe. The total transaction value is EUR 103 mln and the net annual income generated by the portfolio will be greater than EUR ...
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PropertyEU Archive
Beni Stabili agrees deal on residential portfolio
Italian listed property company Beni Stabili has confirmed newspaper reports that it has signed a framework agreement with the Operae Group and Duse Sarl (a subsidiary of Cordea Savills) in relation to the sale of the residential component of the former Comit Fund portfolio, which Beni Stabili acquired in July ...
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PropertyEU Archive
Yield compression slows for EMEA offices
There has been a notable slowdown in the rate of yield compression as office letting showed 'healthy' activity during the third quarter of 2006, according to the latest CB Richard Ellis market view on the EMEA office market. While the average prime yield fell by 25 basis points to 5.05% ...
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PropertyEU Archive
Luxury hotels prosper in Italy
The luxury hotels business is currently a hot favourite among real estate investors in Italy. Only the last week the international hotel chain Four Seasons had various offers which reached came to as much as EUR 2.8 bn from Bill Gates, the Saudi prince Al Waleed Bin Tahal and the ...
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PropertyEU Archive
PREF fund to buy European retail parks for EUR 153 mln
PREF, a closed-ended fund in which British Land is a key investor, has announced that it has contracted to purchase three European retail parks with a combined value in excess of EUR 153 million.
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PropertyEU Archive
New structure agreed for Italy's Jolly Hotels
Spanish hotel group NH Hotels and Banca Intesa have concluded an agreement giving them control over Italy's Jolly Hotels group. A new holding company will be formed called Grande Jolly with control of 75% of the hotel group. It will launch a bid to buy the outstanding 25%. Presently ...
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PropertyEU Archive
INREV extends survey deadline
The European Association for Investors in Non-listed Real Estate Vehicles(INREV) has announced that the deadline for its Investment Intentions Survey 2007 has been extended to Friday, November 17. INREV is conducting a survey on the investment intentions of institutional investors, fund of funds managers and fund managers active in the ...
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News
Warburg Pincus raises $1.2bn for real estate fund
REAL ESTATE - Warburg Pincus has raised $1.2bn of equity for its first dedicated real estate investment fund - the commingled fund is Warburg Pincus Real Estate I, L.P. The global private equity firm attracted capital from some of the largest pens…
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PropertyEU Archive
Henderson tops Allianz bid for Laing
UK Construction company Henderson Infrastructure (HIH) has risen to the challenge laid down by Allianz in October and trumped the German insurer's bid for UK project manager John Laing with an £1.004 bn (EUR 1.49 bn) offer that includes preference shares. HIH, a division of fund manager Henderson, said ...
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PropertyEU Archive
Sweden's Castellum acquires properties for EUR 48 mln
Castellum, the Swedish listed real estate company, has announced the acquisition of two properties for EUR 20.6 mln. The first acquisition, costing EUR 5.2 mln, is in Hagalund industrial estate in Solna. It has 1,400 m[sup]2[/sup] of office space and 2,300 m[sup]2[/sup] of warehouse and industrial space. The second ...
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PropertyEU Archive
CA Immo in final stages in bidding for Hesse portfolio
Austrian real estate investment company CA Immo has confirmed it is in the final stages of the bidding process for the 'Leo II' portfolio of properties in the German state of Hesse. The portfolio consists of 36 state-owned properties which are to be sold in a sale-and-lease-back agreement. The ...
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PropertyEU Archive
Riofisa to invest EUR 215 mln in Bulgarian mall
Riofisa, the Spanish shopping centre developer, is to invest EUR 215 mln in the company's 2nd shopping and entertainment project in Bulgaria. The 90,000 m[sup]2[/sup] centre with 2,600 parking spaces will be built in Bulgaria's second city Plovdiv, as part of a large development which includes a hotel, offices and ...
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PropertyEU Archive
New Spanish group will have EUR 8-10 bn in assets
Spain's Inmobiliaria Colonial will have assets of EUR 8-10 bn when the merger with Grupo Inmocaral is finalised, Spanish business paper 'Expansion' has reported chairman Luis Portillo Munoz as saying. Grupo Inmocaral, which focuses mainly on business parks, office buildings and commercial premises located in Madrid and Barcelona, took over ...
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PropertyEU Archive
Retailers queue up for Mapic trade fair
Days before Mapic 2006 opens its doors in the French Riviera city of Cannes, the organisers of the international retail trade fair have reported over 8,000 delegates have registered to attend. This is a 19% increase compared with last year. The number of companies exhibiting at the event has risen ...
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PropertyEU Archive
Behringer Harvard and HCI acquire Dutch office portfolio
American real estate investment company Behringer Harvard and Hamburg-based HCI Capital have announced their second acquisition in the Netherlands as part of their alliance to co-invest up to $1.3 bn (EUR 1.1 bn) in European real estate. They bought a portfolio of seven offices with a total floor space of ...
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PropertyEU Archive
Grosvenor acquires retail property in central Paris
International property group Grosvenor and France's Solal Conseil & Developpement (SCD) have jointly acquired a retail property on the busiest section of the Rue de Rivoli in the 1 arrondissement in Paris for EUR 16 mln. The premises is rented by Us clothing retailer Gap. Grosvenor said the transaction strengthens ...
