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PropertyEU Archive
Speymill Deutsche to spend EUR 574 mln on German homes
Speymill Deutsche Immobilien, a UK listed property company that invests in Germany, has agreed to acquire residential properties in various German cities for a total of EUR 574 mln. The company said it has also committed itself to buying apartment blocks containing 10,532 residential and commercial units at an overall ...
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PropertyEU Archive
German government adopts REITs legislation
The German Coalition Cabinet has backed draft legislation for the introduction of real estate investment trusts (German REITS or G-Reits). As expected, properties that are 50% or more residential and built before 2007 have been excluded from the REITs. This is a bid by Finance minister Peer Steinbrueck (SPD) to ...
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PropertyEU Archive
Amsterdam to scrap a third of planned offices
Amsterdam intends to scrap one-third of planned office developments as almost 20% of existing offices in the city are vacant. But officials in the other major cities in the Randstad conurbation have indicated they don’t intend to follow suit.
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PropertyEU Archive
Carlyle in fourth deal in Hamburg
Carlyle, the US private equity group, has announced its fourth property development investment in the centre of Hamburg. In total, Carlyle is investing approximately €350 mln in the German port city.
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PropertyEU Archive
Germany publishes G-REIT draft legislation
Germany is moving forward with legislation to introduce real estate investment trusts — known as G-REITS.
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PropertyEU Archive
Europa mall opens in Hamburg
Europa Passage, one of the largest inner-city shopping malls in Germany, has opened its doors in Hamburg. Featuring 120 shops on five levels, the €430 mln Europa Passage has 30,000 m[sup]2[/sup] of retail space and overlooks the Binnenalster (Inner Alster) artificial lake in downtown Hamburg.
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PropertyEU Archive
Select Property Fund reaches £780 mln within year
Standard Life Investments has announced that its Select Property Fund has grown to £780 mln (€1.15 bn) since it was launched in October last year. This makes it one of the fastest growing retail fund launched in the UK in the last 12 months.
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PropertyEU Archive
Turkey, India and Romania at Mapic 2006
Several countries are taking part in MAPIC, the international market for retail real estate, for the first time this year. Interest is so great, the organisers said, that the 12th annual MAPIC includes a 20% increase in exhibition space compared with the year before.
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PropertyEU Archive
Atisreal buys Fuller Peiser in UK push
European commercial property advisor Atisreal has acquired 100% of Fuller Peiser, a commercial real estate services rival in the UK. The price was not disclosed, but Property Week suggested Atisreal, a subsidiary of BNP Paribas real Estate, paid approximately £15 mln (#E22.3 mln).
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PropertyEU Archive
Warsaw complex saga continues
The opening of the Zlote Tarasy Centre in Warsaw, Poland has been postponed again, developer ING Real Estate has announced. It was due to open in next month but this has been pushed back to the first quarter of 2007.
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PropertyEU Archive
Germans take major stake in Dutch tower
German real estate fund DIFA is to buy a majority stake in the tallest tower in the Dutch capital Amsterdam. Difa is expected to complete the purchase of a 75% stake in the 35-storey Rembrandt tower from insurer Winterthur for #E108 mln.
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PropertyEU Archive
Nominees for 11th MAPIC awards unveiled
The nominees for the 11th annual MAPIC award ceremony have been announced. The awards honour retailers who the jury considers have shown the most dynamic international growth over the previous 12 months. There are six categories: clothing & fashion accessories; catering outlets; Household and electrical goods; services; leisure and health ...
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PropertyEU Archive
Ivanhoe acquires malls in $988m deal
Canadian shopping centre developer Ivanhoe Cambridge has announced the completion of a $988 mln (€788 mln) acquisition of centres in Glasgow, Madrid and Ontario from US REIT Mills Corporation. The deal gives Ivanhoe Cambridge the remaining 50 control of St Enoch Centre in Glasgow and Vaugh Mills in Ontario, and ...
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PropertyEU Archive
Hypo arranges financing for Paris offices
Hypo Real Estate Bank has arranged EUR 50 mln in financing for commercial property investor Societe de la Tour Eiffel to acquire an office project in Port des Lilas, Paris.
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PropertyEU Archive
Befimmo cries foul over Belgian deal
Property investment company Befimmo has alleged unfair treatment in the Belgian government's allocation process for a joint venture partner to manage a EUR 1.2 bn portfolio of public buildings.
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PropertyEU Archive
German REIT legislation coming in November
German finance minister Peer Steinbrueck is to present updated draft legislation on November 2 to reinforce the government's determination to introduce real estate investment trusts (REITs) in 2007.
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PropertyEU Archive
Hilton sells top UK hotels in mega deal
American hotel group Hilton is to sell two of its largest UK hotels to Edward Wojakovski's family-owned Tonstate for £417 mln (EUR 623 mln). It is the largest single asset hotel deal ever to be transacted in Europe.
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PropertyEU Archive
ING Real Estate Investment Management launches five new funds
ING Real Estate Investment Management (ING REIM) is launching five new European funds with a total value of EUR 4.25 bn. The new real estate vehicles include an infrastructure offering for the first time. The four other funds focus on the Nordic countries, Central and Eastern Europe, French residential property ...
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PropertyEU Archive
Qatar fund shops for European properties
Qatar National Bank has launched a $400 mln (€317 mln) global fund to buy property in Europe, the UK and US.
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PropertyEU Archive
Schroders launches new European funds
Schroders Property Investment Management has launched two new funds of funds to enable investors to diversify beyond their national markets. The European Fund 1 will invest in unlisted property funds across Europe, while the Continental European fund 1 will be aimed primarily at UK investors but will exclude real ...
