Latest reports – Page 3808
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PropertyEU Archive
YIT buys plots in St Petersburg for 15,000 homes
Finnish real estate manager YIT has acquired two residential plots in St Petersburg by purchasing the shares in a company that owns the land for EUR 37 mln. The plots, measuring a total of 46 hectares, are zoned for housing and YIT said construction of buildings with more than 15,000 ...
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PropertyEU Archive
Plaza Centers IPO priced at 180p
Plaza Centers, a developer of shopping malls in Eastern Europe, announced on Friday it has set a price of 180 pence per share for its initial public offering to institutional investors in London, valuing the company at £514.3 mln (EUR 766.6 mln). The offer consists of 85.71 million new ordinary ...
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PropertyEU Archive
German SPD makes small concession in REIT row
The German Social Democrat Party SPD has signalled it may agree to a partial inclusion of residential properties in legislation to introduce real estate investment trusts (REITs) in Germany. A party spokesperson said in an interview that the SPD still opposes REIT eligibility for purely residential properties, but may approve ...
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PropertyEU Archive
Savills enters Moscow market
Savills, the London-based international property services company, has entered the Moscow market through a partnership with Intermark, a British-owned residential estate agent operating in and around the Russian capital. Branded as Intermark Savills, the partnership will concentrate on the residential agency business in the most expensive property market in the ...
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PropertyEU Archive
Invesco in EUR 1 bn hotel spending spree
British asset manager Invesco Real Estate announced it has reached agreement with Generali France on the establishment of a separate investment account to invest EUR 300 mln of the French insurance company's equity in hotel real estate across Europe. As part of the deal Invesco will take over the asset ...
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PropertyEU Archive
UK investor acquires EUR 214 mln German portfolios
UK-based Dawnay, Day Treveria has acquired two retail property portfolios in Germany for a total of EUR 214 mln. The portfolios comprise 47 properties, including two large shopping centres, located in towns across Germany. Major tenants of the buildings include H&M, Reve, Media Markt and Deichmann. The gross current ...
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PropertyEU Archive
Evans Randall acquires EUR 220 mln Stuttgart shopping centre
UK investment banking group Evans Randall has entered the German market by acquiring the Konigsbau Passegen shopping centre in Stuttgart from HSH N Real Estate for EUR 220 mln. The sale is subject to the approval of the Baden-Wuttemberg state trust.
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PropertyEU Archive
Aareal Asset Management increases stake in fund
Aareal Asset Management has increased its equity from EUR 150 mln to EUR 350 mln in the Aareal Eurologistics fund bringing the total investment capital of the fund to EUR 1 bn. The fund concentrates mainly on investment in Germany, and is also active in France, Spain, the Benelux, ...
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PropertyEU Archive
Cushman & Wakefield wins European Property Award
Cushman & Wakefield has won two of the four awards open to property advisors at the European Property Awards 2006 held during the Expo Real commercial property trade fair in Munich this week. The jury awarded Cushman & Wakefield the awards for European Office Agency Team of the Year 2006 ...
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PropertyEU Archive
Champs-Elysees property sells for EUR 68 mln
Property investment companies Societe Fonciere Lyonnaise (SFL) and Ile-de-France have agreed the sale of Parelys, which owns a property at 118 avenue des Champs-Elysees in Paris, for a net prize of EUR 68 mln. The buyer Risanamento Europe has agreed to repay Parely's debt as part of the transaction, valuing ...
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PropertyEU Archive
Multi Development in EUR 521 mln Bath regeneration scheme
The UK division of Multi Development has confirmed that it signed a joint venture agreement with Morley Fund Management last week for a EUR 521 mln regeneration in the centre of Bath in the southeast of England. A subsidiary of the Dutch-based Multi Corporation, Multi Development also announced on ...
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PropertyEU Archive
Secondary cities getting edge over metropoles
MUNICH - Property investors are increasingly sidelining Europe's metropoles in favour of smaller cities. During a forum at the annual Expo Real fair in Munich on Wednesday, a panel of property experts unanimously claimed the trend in investment was moving towards so-called 'secondary' cities.
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PropertyEU Archive
Oslo project wins DIFA regeneration award
MUNICH - Oslo' s former docklands have won the 2006 DIFA prize for urban regeneration and been hailed as one of Europe' s most desirable districts. The new Aker Brygge district beat off competition from 75 entries across 16 European countries to claim the title, which was announced at the ...
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PropertyEU Archive
DB Real Estate to sell nearly all German properties: report
MUNICH - DB Real Estate, the real estate unit of Deutsche Bank, plans to sell off nearly all its German properties from its open-ended property fund Grundbesitz-Invest, the Financial Times Deutschland reported on Wednesday, citing sources on the sidelines of the commercial real estate trade fair Expo Real in Munich. ...
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PropertyEU Archive
North Rhine-Westphalia to sell 100,000 homes
MUNICH - Germany's most populous state, North Rhine-Westphalia, plans to sell off around 100,000 residences in an attempt to reduce debt, the state's finance minister Helmut Linssen announced on Tuesday. The state intends to privatise its Landesentwicklungsgesellschaft (LEG) real estate firm, which owns around 100,000 residences, by selling to an ...
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PropertyEU Archive
Expo Real 2006 boasts record-breaking figures
A total of 21,000 people attended the 9th international reasl estate trade fair Expo Real in Munich, the organisers revealed on Wednesday. This was a 20% increase in attendance compared with 2005. In terms of visitors from outside Germany, the increase was more striking - 35%.
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PropertyEU Archive
Axa sells 54 properties to Morgan Stanley
AXA Real Estate Investment Managers has sold a real estate portfolio consisting of 54 properties to a Morgan Stanley managed fund. The portfolio comprises a total of 216.000 m[sup]2[/sup] floor space that is principally used for commercial purposes. CB Richard Ellis and Clifford Chance advised on the transaction. The financial ...
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PropertyEU Archive
City planners 'can help combat terror'
MUNICH - City developers have a key role to play in boosting inner city security and helping combat fear of terror attacks, according to experts. Speaking at a forum on the future of European cities at the Expo Real trade fair, panel members claimed local authorities needed to take measures ...
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PropertyEU Archive
Consider ageing population, investors told
MUNICH - Property investors are being urged to consider the ageing population in future residential developments. With an ever increasing proportion of elderly people in society, it is feared that existing care facilities will soon no longer be able to cope with demand. Speaking at the Expo Real trade fair ...
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PropertyEU Archive
German property firms 'must do more to fight corruption'
MUNICH - Anti-corruption initiatives in the German real estate sector are a good start, but more needs to be done to implement codes of practice, leading German anti-corruption campaigner Peter von Blomberg said on Tuesday.
