All PropertyEU Archive articles 鈥� Page 1899
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PropertyEU Archive
Invista acquires retail warehouse in Guildford for EUR 21m
Invista Real Estate Investment Management (Invista) has committed to the forward funding of a retail warehouse development in Guildford on behalf of a client. The site is being developed by builders' merchant Travis Perkins and has been pre-let to a TP group company, Wickes Building Supplies for 25 years.
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PropertyEU Archive
Acron buys Swiss retail centre for EUR 24m
German closed-end fund manager Acron AG has acquired a retail centre in N盲fels/Glarus, south of Zurich from Austrian developer Zima for CHF 34 mln (EUR 24 mln). The property, which was completed in March 2010, has been transferred to the Acron Helvetia IX Immobilien vehicle which is planned to open ...
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PropertyEU Archive
Carrefour Property to invest EUR 350m in Spain
Carrefour Property has unveiled plans to invest over EUR 350 mln in the development of 20 new retail projects in Spain. Pascal Duhamel, president of Carrefour Property Espa帽a, said that the company intends to add a further 350,000 m[sup]2[/sup] of retail space to its portfolio over the next three years.
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PropertyEU Archive
Gecina shareholders reject Spanish deal, makes EUR 80m buy in France
The vast majority of Gecina's shareholders has voted against the acquisition of part of Bami, a Spanish company founded in 2009 under former chairman Joaquin Rivero. Around 83% of shareholders voted against last year's EUR 108 mln acquisition of 49% of the firm.
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PropertyEU Archive
Valad appoints new CFO
Valad Property Group, the pan-European multi-let investment manager, has appointed Fraser Kennedy as Chief Financial Officer, Europe. He takes responsibility for the company鈥檚 EUR 4.5 bn of assets in 14 funds under management in Europe, plus all corporate finance functions across the company鈥檚 European platform of 20 offices in 12 ...
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PropertyEU Archive
Union Investment brings London trophy asset to market
German fund manager Union Investment has put a trophy office asset in the City of London up for sale within a year of acquiring it. Property adviser Savills has been instructed to bring 10 Gresham Street, London EC2 to the market for a price in the region of 拢180 mln ...
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PropertyEU Archive
Paris and London lead recovery in European banking take-up
The European banking sector has mounted a notable recovery based on its office leasing activity in the last six months, according to the new European Banking Briefing from global real estate adviser Cushman & Wakefield.
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PropertyEU Archive
Wragge & Co opens office in Paris
A group of Lefevre Pelletier partners have left the law firm to open the first large Continental European office of Wragge & Co, the UK law firm specialised in real estate. Opened last month, Wragge's new Paris office comprises 50 staff including 35 lawyers with plans to recruit five more ...
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PropertyEU Archive
Helios Europe in EUR1bn European logistics development drive
Helios Europe, the European logistics developer headed by Mike Hughes, has entered into a joint venture with specialist fund manager Mansford Real Estate to develop a EUR 1 bn pipeline of future projects across Europe. The new partnership has received 'substantial financial backing' from two of the UK's largest pension ...
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PropertyEU Archive
Carphathian agrees refinancing of EUR 109m Riga mall
AIM-listed CEE commercial property investor Carpathian has been granted refinancing to complete construction of its landmark retail development project in the Latvian capital of Riga. 'Following extensive negotiations, a revised agreement has been finalised with the co-owner and development partner, Titan Invest and the senior lender, Nordea,' the company said ...
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PropertyEU Archive
German funds back 12-month holding period for new investors
Managers of German open-ended real estate funds (GOEFS) are in favour of a 12-month holding period for new investors to help tackle the liquidity crisis that has plagued the industry in recent years.
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PropertyEU Archive
ING RE books EUR 151m impairment on development pipeline
ING Real Estate booked EUR 151 mln in impairments in the first quarter of 2010, largely on its development pipeline. As a result, ING Bank saw its operational costs increase by ING Bank. In the year-earlier period, the figure came to EUR 22 mln.
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PropertyEU Archive
Tengelmann takes control of 162 Woolworth stores
The privately held Tengelmann Group and its North Rhine-Westphalia-based subsidiary HH Holding are set to take over the 162 stores of insolvent department store chain Woolworth, administrator Ottmar Hermann announced last week. The sale comes just over a year after the Woolworth group filed for administration in early 2009. The ...
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PropertyEU Archive
MSREF sells stake in French IBM portfolio at 20% discount
Morgan Stanley Real Estate Fund (MSREF) has sold its 75% interest in a 115,000 m[sup]2[/sup] office portfolio in France at a discount of around 20% to market value. The transaction will see MSREF's 25% joint venture partner, Fonciere des Regions (FdR) take full control of the properties, which are worth ...
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PropertyEU Archive
CBRE acquires industrial-logistics specialist M3
CB Richard Ellis Group (CBRE) has announced the acquisition of M3 Agency (M3), a leading industrial and logistics real estate services specialist in the UK.
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PropertyEU Archive
Pasal pulls the plug on sale of Athens mall
Greek property company Pasal Development said last week that it is withdrawing its Athen Heart shopping centre from the market due to 'difficult market conditions'. The company mandated Savills in December last year to divest a 50% interest in the mall, which is valued at nearly EUR 90 mln. Pasal ...
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PropertyEU Archive
Scandic teams up with pension fund to build hotel
Scandinavian hotel chain Scandic is joining forces with VR Pension Fund, the EUR 920 mln scheme for employees of the Finnish state railway, to develop a new hotel in the centre of Tampere, Finland's second largest city.
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PropertyEU Archive
Former ING REIM executive joins Mosaic
P茅ter Horv谩th, formerly Head of Asset Management at ING Real Estate Investment Management (REIM), has joined Mosaic Property CEE as Head of Asset Management for Central Europe.
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PropertyEU Archive
Bouwfonds buys Dutch carpark for EUR 12m
Bouwfonds REIM's European Real Estate Parking Fund has acquired its second car park in the Netherlands from Cocon Vastgoed. The investment volume was not explicitly stated but Bouwfonds said the deal increased the value of the fund to EUR 242 mln from the previously disclosed figure of EUR 230 mln.
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PropertyEU Archive
Barclays puts 34 Spanish bank branches on the market
London-based financial institution Barclays has put a portfolio of 34 bank branches in Spain up for sale. The lender, which is looking to sell through a sale-and-leaseback structure, has hired Jones Lang LaSalle to market the properties, which are worth EUR 25 - 35 mln.
