All PropertyEU Archive articles 鈥� Page 1791
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PropertyEU Archive
Steen & Str酶m acquires Odense mall for EUR 31m
Scandinavian shopping centre group Steen & Str酶m has signed an agreement to acquire a 40,000-m[sup]2[/sup] shopping centre and 18,000-m[sup]2[/sup] commercial property in Odense, Denmark for DKK 230 mln (almost EUR 31 mln). The vendor is a subsidiary of listed Danish property company Fornebu Utvikling (FBU). A separate offer for the ...
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PropertyEU Archive
BNP Paribas RE reports 79% growth in net profit
BNP Paribas Real Estate has said 2010 was a 'great' year for the company, with growth of 79% in net profit to EUR 139 mln. Turnover was up 17% at EUR 618 mln, generatomg an operating profit of EUR 141 mln, or an increase of 51% on 2009.
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PropertyEU Archive
Sveafastigheter acquires Ibis Hotel Malm枚
Nordic private equity company Sveafastigheter has added another hotel to its third fund through the acquisition of the Ibis Hotel Malm枚 in Sweden from local property company Locellus for an undisclosed amount. The acquisition is carried out through a joint venture together with hotel asset manager Midstar and the Cologne-based ...
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PropertyEU Archive
Alstria readies itself to seize opportunities
Alstria Office-REIT, the first real estate investment trust in Germany, has said it well positioned to seize opportunities it sees in the market. 'In the past two years we have successfully focused on strengthening our balance sheet and our operational platform. Today we are well positioned, having no legacy issue ...
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PropertyEU Archive
F&C REIT appoints new Irish property boss
F&C REIT has announced the appointment of Des Dennehy to the position of head of Property for Ireland following the retirement of Roger Mansfield at the end of March 2011.
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PropertyEU Archive
ING's Hendrikse chomps at the bit
After waiting almost 10 months for the final agreement and official announcement of the deal between CBRE Investors and ING REIM, Pieter Hendrikse has no time to idle.
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PropertyEU Archive
Sistema-Hals buys Hotel Peking in Moscow
Russian property company Sistema-Hals has announced the acquisition of 100% of the Hotel Peking located at the Central Administrative District of Moscow from local tourist company Intourist for an undisclosed amount. The scheme will be redeveloped as a hotel and office complex.
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PropertyEU Archive
CB-ING REIM deal may spark M&A wave
The tie-up between CB Richard Ellis Investors and ING REIM could mark the beginning of a new wave of consolidation, according to Timo Tschammler, managing director of DTZ Germany. 'I wouldn't be surprised if we saw more mergers between some of the German open-ended fund managers that are struggling ...
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PropertyEU Archive
Office occupancy costs to increase in Europe: DTZ
Average occupancy costs in Europe will grow 2% year-on-year to 2015, according to the fourteenth edition of DTZ鈥檚 annual Global Occupancy Costs: Offices survey. Rental increases will drive the forecast rise in occupancy costs across Europe. Other outgoings, such as property taxes and service charges, are also set to increase. ...
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PropertyEU Archive
Z眉blin sells Walter Meier HQ to Credit Suisse
Z眉blin Immobilien Holding has announced the sale of two properties in Switzerland for a total of CHF 78 mln (EUR 61 mln), a premium to the assets' market value at end-September 2010.
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PropertyEU Archive
C&W markets Ibis Karlin hotel in Prague
Cushman & Wakefield has been retained by Quinn Group to market the 3-star hotel Ibis located in Karlin, Prague. Originally opened in 1991, the freehold property offers 226 guest rooms in five different classifications. It is located on the edge of the historical city centre in one of Prague鈥檚 significant ...
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PropertyEU Archive
MIPIM: Investors to the fore
New Mipim director Filippo Rean tells PropertyEU that the fair is widening its offer to investors who are set to make a comeback. PropertyEU: What has changed in the 2011 edition compared to last year and how does this reflect overall real estate market conditions?
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PropertyEU Archive
Metro owners in talks to sell up to EUR 1b of assets
Franz Haniel & Cie, the investment company that controls German retail group Metro with other shareholders, has confirmed that talks are ongoing regarding the sale of a portfolio of 45 Cash & Carry retail assets but declined to give any specifics on the potential buyer.
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PropertyEU Archive
Invesco raises EUR 85m in 1st close of new hotel fund
Invesco Real Estate has raised EUR 85 mln of equity from four institutional investors in the first close of its second pan-European hotel fund. IRE said the addition of 'conservative debt' provides EUR 170 mln of initial capital. Further closings are planned over the next 12 months.
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PropertyEU Archive
Unicredit's EUR 300m portfolio receives over 20 offers
Italian lender Unicredit is said to have received over 20 binding offers for a EUR 300 mln portfolio of seven office properties which was put on the market through C&W in September last year, well-informed market souces told PropertyEU.
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PropertyEU Archive
Unibail-Rodamco buys 7.25% stake in SFL
Franco-Dutch listed property group Unibail-Rodamco has announced the acquisition of a 7.25% stake in Soci茅t茅 Fonci猫re Lyonnaise (SFL) from German bank Eurohypo for a total amount of EUR 106.5 mln. The purchase price corresponds to EUR 31.59 per share. The acquisition has been made for investment purposes, Unibail-Rodamco said.
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PropertyEU Archive
Vastned acquires 33 stores in mall for EUR 40m
Pan-European retail property fund VastNed Retail has acquired 33 units in the Walburg shopping centre in Zwijndrecht near Rotterdam for EUR 40.5 mln, including purchase costs. The net initial yield is about 6%.
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PropertyEU Archive
PensionDanmark makes EUR 38m buy
PensionDanmark has announced the acquisition of a commercial property development at the Buddinge Station, in Buddinge, north of Kopenhagen from local developer Sophienberg Ejendomsudvikling for DKK 282 mln (EUR 38 mln).
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PropertyEU Archive
Allianz RE and AMB create EUR 470m jv in Eurozone
Allianz Real Estate has formed a EUR 470 mln joint venture with global industrial property specialist AMB Property Corporation. The joint venture takes the form of a Luxembourg FCP-FIS fund which will acquire, own and operate logistics real estate tied to global trade and located in major seaport, airport and ...
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PropertyEU Archive
EUR 8.8b available for UK resi development: CBRE
Over 拢7.5 bn (EUR 8.8 bn) is aimed at residential development and/or investment in the UK from a variety of domestic and international funds, CB Richard Ellis has revealed. Around 70% of this money is earmarked for inner London broadly split between prime (拢2.5 bn) and fringe (拢2.8 bn).
