Latest reports – Page 3806
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PropertyEU Archive
Kungsleden divests 172 properties in EUR 685 mln deal
Swedish property company Kungsleden has divested 172 properties to Keops of Denmark for SEK 6.3 bn (EUR 685 mln) in accordance with an earlier agreement. Considered Sweden's most extensive property deal ever, this was SEK 1,170 mln above the book value at the contract date and SEK 1,470 mln about ...
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PropertyEU Archive
Developer in EUR 94 mln Madrid project
The Fadesa Group from Galicia in Northern Spain has continued its drive into the Madrid area through a EUR 94.5 mln residential project in the satellite town of Villanueva de la Cañada. The scheme comprises 276 homes in a complex covering 201,197 m[sup]2[/sup]. Fadesa said 174 homes are semi-detached ...
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PropertyEU Archive
Denmark strongest performer in GPR 250 Europe
The Global Property Research 250 Europe index has turned in a strong +4.6% total return performance for October, with seven countries doing better than the European average The best performaners were by Denmark (Keops + 29.2%) and Spain (Metrovacesa, +22,5%). Poland (+11,3%), Turkey (+9,8%), Finland (+9,8%), the UK (+6,3%) ...
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PropertyEU Archive
Metrovacesa ups financial forecast despite turf war
Metrovacesa has revised its full-year 2006 net profit forecast upwards to EUR 1.1 bn despite the ongoing boardroom battle for control of the Spain's largest property group. Metrovacesa had early revised its forecast from EUR 690 mln to EUR 880 mln. The latest forecast came as it reported a 176.4% ...
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PropertyEU Archive
Halverton breaks into Swedish property
Halverton, the London-based real estate investor, has stepped into the Swedish market through the EUR 7.6 mln purchase of an office-warehouse property in the southern town of Svedala. Halverton said the purchase of the property, about about 15km from the centre of Malmo, produced a net yield of 10.11%. ...
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PropertyEU Archive
Hammerson in joint venture with GE and Irish bank
Hammerson, the UK-based listed property company, has formed a joint venture with GE Real Estate and the private banking arm of the Bank of Ireland to develop the former London Stock Exchange building. GE Real Estate and the Bank of Ireland will acquire 25% stakes in the partnership for ...
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PropertyEU Archive
Law firm moves London HQ
European law firm Taylor Wessing has exchanged contracts with the Land Securities Group to move its UK head office to a building in London's New Street Square development. The law firm is leasing the majority of Building 5 on New Fetter Lane, some 15,400 m[sup]2[/sup] (166,000 square feet), on ...
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PropertyEU Archive
Klepierre plans IPO for Klemurs unit
Klepierre, the French real estate group, has announced plans to list its Klemurs subsidiary on Euronext Paris. Klemurs' portfolio comprises a retail property leased by department store BHV in the 19th arrondissement (district) of Paris, a retail space leased to Truffaut in the 13th arrondissement and a group of stores ...
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PropertyEU Archive
Orco plans to list in Budapest and Warsaw
Orco Property Group, the Luxembourg-based real estate developer, plans to list on the stock exchanges in Budapest and Warsaw in early 2007. Orco has been active as an investor, developer and asset manager in Central Europe since the early 1990s. It manages assets valued at EUR 737 mln. The company ...
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PropertyEU Archive
GE sells 1.4 million Fonciere des Regions shares
The General Electric Group has sold around 1.14 million shares of French real estate group Fonciere des Regions. This represents 4% of the outstanding share capital following the merger of Fonciere des Regions with Bali Investissement. The sale reduces General Electric's interest in the company to 12%. 'It will increase ...
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PropertyEU Archive
CA Immo International raises EUR 287 mln in IPO
CA Immo International has raised EUR 287.5 mln from its IPO after the over-allotment option was fully exercised and an additional 2.78 million shares were sold to meet the excess demand. This increased the free-float to 21,295,785 shares, with shares trading at EUR 13.50 a piece.
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PropertyEU Archive
Property experts put G-REITs under the microscpoe
The issue of German real estate invest trusts (G-REITS) has already generated three years of heated debate in political and business circles in Germany - and it isn’t over yet. Ministers of the Grand Coalition of the Christian Democrat CDU/CSU and the Social Democrats (SPD) sit down for a ...
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PropertyEU Archive
SEB sets up third property fund
SEB Asset Management has launched the SEB Global Property Fund to invest in commercial property around Europe for high-worth clients of UBS Sauerborn. It has already acquired the Centre for Innovative Medicine in Hamburg from Euroland Projects for EUR 44.2 mln. The fund plans to make further acquisitions in Germany ...
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PropertyEU Archive
CB Richard Ellis buys Trammell Crow for EUR 1.7 bn
CB Richard Ellis is to buy Dallas-based real estate service provider Trammell Crow for EUR 1.7 bn ($2.2 bn) in a move that will double CBRE's property management business. CBRE, the world's largest real estate advisor, agreed to pay $49.1 per share and to assume Trammell's corporate debt. The ...
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PropertyEU Archive
Record year for European shopping centres
The record for shopping centres development in Europe is likely to be broken again in 2006, according to new research by Cushman & Wakefield. Anticipating a strong finish to the year, the report said up to 6.4 million m[sup]2[/sup] of space will be added this year, with a further 1 ...
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PropertyEU Archive
Equal sells fund to Eurocastle
Frankfurt's Equal Real Estate has sold its ImmoFund 1 closed-ended fund for EUR 15 mln to Eurocastle Investment. The fund's portfolio comprises five properties in Dortmund, Iserlohn, Lubeck and Wittingen, Germany’s Immobilien Zeitung reported. Eurocastle, part of the Fortress Investment Group, is a closed-ended investment company that mainly invests in ...
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PropertyEU Archive
Immocaral launches bid for rest of SFL
Madrid-based real estate company Inmocaral is seeking to acquire the remaining 20.05% of France's Societe Fonciere Lyonnaise (SFL) which it does not already own. Immocarel is offering EUR 55 per share. It is obliged by French law to make following its EUR 3.76 bn takeover in September of SFL's parent ...
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PropertyEU Archive
CB Richard Ellis buys Trammell Crow for EUR 1.7 bn
CB Richard Ellis is to buy Dallas-based real estate service provider Trammell Crow for EUR 1.7 bn ($2.2 bn in a move that will double CBRE's property management business. CBRE, the world's largest real estate advisor, agreed to pay $49.1 per share for Trammell Crow and to assume Trammell's ...
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PropertyEU Archive
New Star buys in Netherlands and Germany
UK fund manager New Star Asset Management has acquired office complexes in the Netherlands for EUR 150 mln. It also bought an office property in Germany from Global Property Fund, but the financial details of that transaction were not disclosed.
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News
Smaller schemes chase ‘more liquid’ property
REAL ESTATE - Robin Goodchild, head of European investment at property firm LaSalle, this week urged large pension funds to invest directly in real estate and claimed smaller ones were re-thinking their lack of exposure.
