Latest reports – Page 3805
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PropertyEU Archive
Water company sells property arm to ProLogis
Severn Trent, Britain's second-largest water company, has sold its property division for £71.7 mln (EUR 106.9 mln) to distribution facilities giant ProLogis Development. Birmingham-based Severn Trent, which is slimming down to focus on its core water activities, made a £35 mln aggregate profit on the deal. The portfolio includes land ...
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PropertyEU Archive
Morgan Stanley to launch EUR 6.29 bn RE fund
Morgan Stanley is launching a $8 bn (EUR 6.29 bn) international opportunity fund for real estate investments in several markets outside the US, including Japan, Germany, China and India. Jay Mantz, co-head of Morgan Stanley Real Estate, told an investor presentation that the fund will go after riskier investments rather ...
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PropertyEU Archive
London & Capital builds European footprint with EUR 165 mln buy
Asset management company London & Capital has expanded its profile as a major player in the pan-European commercial property sector through the acquisition of a portfolio of German logistic centres. It acquired the portfolio for over EUR 165 mln ($210 mln) from state-owned German insurance company Provinzial.
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PropertyEU Archive
Aberdeen fund in EUR 77 mln Swedish acquisition
Aberdeen Property Fund Sweden has acquired a portfolio of nine properties with a combined value of EUR 77 mln from Dios & Kuylenstierna. The properties are located in and around Stockholm and cover a total of 34,500 m[sup]2[/sup].The initial vacancy rate is 7.5%.
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PropertyEU Archive
Vienna's largest office deal signed
Britain's Matrix Property Fund Management has signed the final agreement for the acquisition of Vienna's largest office building from US fund Doughty Hanson for EUR 247 mln. The IZD Tower, with 63,000 m[sup]2[/sup] of office space, is adjacent to the UN complex and its tenants include the US Mission to ...
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PropertyEU Archive
VIB Vermogen in logistics deal
Bavaria's VIB Vermogen has acquired a parcel of logistics real estate in Bavaria and Nordhessen for EUR 47 mln. It purchased seven properties in all with a floor space of 74,888 divided into lettable areas of 1,550 m[sup]2[/sup] and 27,500 m[sup]2[/sup]. The tenants of the fully-let properties are two internationally-active ...
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PropertyEU Archive
Hufvudstaden sees 4.9% increase in management profits
Hufvudstaden, the Swedish property company, has reported a profit after tax of SEK 765.3 mln (EUR 78.2 mln) in the nine months from January to September, up from SEK 716.2 mln in the same period last year. Gross profit from property management increased by 4.9% to SEK 637.4 mln ...
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PropertyEU Archive
Ferrovial seeks suitors for real estate unit
Grupo Ferrovial, Spain's second largest construction company, is considering bids for its real estate unit which has been valued by analysts at EUR 1.4 bn-2 bn. A spokesperson for the company confirmed three offers had been received but no talks have been started with a potential buyer. Ferrovial declined ...
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PropertyEU Archive
Property debate moves to Barcelona
The focus will be on the REITs 'revolution' when property professionals come together at the 10th Meeting Point property symposium from November 7 to 9 in Barcelona. The event is supported by the European Property Federation, the Global Real Estate Institute, the Royal Institute of Chartered Surveyors, the Urban Land ...
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PropertyEU Archive
Swedish firm in new acquisition
Sweden's Kungsleden has purchased eight properties for EUR 22.6 mln, generating a yield of 7.2%. The properties are in Goteborg, Kungalv and Uddevalla and have a total lettable area of 31,000 m2, with a rental value of EUR 2.4 mln. Kungsleden takes possession of the buildings on 1 December.
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PropertyEU Archive
Moscow joins Paris and London as rental capital
Despite ongoing political uncertainty in Russia, Moscow is now one of the leading trio of capitals in Europe when it comes to top rents and vacancy rates, according to the 3rd quarterly European real estate barometer by IVG Immobilien and Cushman & Wakefield.
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PropertyEU Archive
Sireo sells French properties to UK fund
Sireo Real Estate has sold two office properties in the Grenoble region of France to the British-based Insight European Real Estate Trust. The properties comprise a total lettable area of 15,000 m[sup]2[/sup]. Atisreal France advised on the deal. Sireo Real Estate has some EUR 13 billion in institutional assets ...
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PropertyEU Archive
Sistema-Hals raises EUR 311 mln in IPO
Moscow-based Sistema-Hals has announced it raised EUR 311 mln in its initial public offering by selling 1.85 mln shares at EUR 168 ($214) each. Sistema-Hals is a real estate owner, developer and manager that focuses on class A and B offices, high-end housing, cottages and land development in the Moscow ...
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PropertyEU Archive
Credit Suisse finances MPC porfolio buy
Credit Suisse is financing the acquisition for almost EUR 1 bn by Breevast of Dutch office properties from MPC Capital, well-informed sources have told PropertyNL, a sister publication of PropertyEU. The MPC transaction in one of the largest real estate deals ever in the Netherlands. It involves 99 office ...
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PropertyEU Archive
Queen Elizabeth makes second foray into real estate
The Duchy of Lancaster, the private estate of the Britain's Queen Elizabeth, has invested nearly £10 mln (EUR 14.9 mln) in a new £200 mln property fund set up by venture capital provider and fund manager Palmer Capital Partners, British newspaper The Times reported. Palmer has raised £90 mln ...
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PropertyEU Archive
EUR 100 mln shopping centre opens in Hungary
ECE Projektmanagement Budapest and Real I.S., the real estate asset management arm of German bank Bayern, opened an intercity shopping gallery in Gyor, Hungary on Friday. With 125 shops on 35,000 m[sup]2[/sup] of retail space, the Arkad Gyor has an investment value of EUR 100 mln. Real I.S. has placed ...
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PropertyEU Archive
Fadesa reports 31% revenue increase amid takeover bid
Fadesa, the property company based in northern Spain, has reported total revenue of EUR 789.8 mln for the first nine months of the year, a 31% increase on the year earlier. Net profit rose 9% to 133.2 mln. 'Of the total revenue, 93% comes from the real estate activity, which ...
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PropertyEU Archive
YIT and Evli in EUR 100 mln St Petersburg deals
Finland's YIT and Evli Property Investments (EPI) Russia have signed an agreement on the development of an office building and a logistics centre on YIT's plots in St Petersburg. The total value of the projects is EUR 100 mln. YIT will be responsible for the project design and implementation, while ...
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PropertyEU Archive
UK to limit corporate ownership of REITs
The UK government has decided to limit corporate ownership of real estate investment trusts (REITs), while allowing private investors, trusts and funds unrestricted purchases, according to merchant bank Kempen & Co.
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PropertyEU Archive
Office property dilemma in Istanbul
The strong economic recovery in Turkey over the last few years has fuelled a large number of office developments in Istanbul, yet there is still a shortage of high-quality properties. On the other hand, too many new offices may already be under construction, according to a new report by DEGI's ...
