All PropertyEU Archive articles 鈥� Page 1902
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PropertyEU Archive
Redevco snaps up Dutch retail portfolio
Redevco Netherlands has acquired a portfolio of five retail units from Metroprop for EUR 17.7 mln. The units are located in A1 locations in Alkmaar, Venlo and Zwolle. The stores are leased on a long-term basis to Douglas, Hennes & Mauritz, Mexx, The Phone House and Van Haren.
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PropertyEU Archive
Pirelli outlines plans for real estate spin-off
Pirelli & Co outlined plans this week to spin off its real estate arm amid improving results for both its tyre and real estate businesses. In a statement, the Milan-based group said that it will assign its 58% stake in Pirelli & C Real Estate to its own shareholders following ...
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PropertyEU Archive
IVG expands institutional fund management team
Germany's IVG Immobilien has appointed Bernhard Berg (50) as management chairman and co-head of IVG Institutional Funds in a key step towards expansion of its institutional fund business. He will join Peter Le Loux from 1 August.
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PropertyEU Archive
Metro in talks with several investors to sell Kaufhof unit
German retailer Metro Group has confirmed that it is 'in talks' over a potential sale of its department store chain Galeria Kaufhof, but added that negotiations with investors are still at an early stage. 'We are not in exclusivity, the process is not that far yet,' a Metro spokesperson told ...
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PropertyEU Archive
Logiffine completes leasing of 61,000 m[sup]2[/sup] logistics park
Logiffine, the joint venture between MGPA and the Affine Group, has announced the leasing of 12,200 m[sup]2[/sup] of a logistics park development in Mont茅l茅ger, Dr么me, for a nine-year period to Reynolds. The transaction marks the completion of the Logiffine leasing programme for the Mont茅l茅ger site and brings the occupancy rate ...
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PropertyEU Archive
W. P. Carey buys in Croatia for EUR 77m
W. P. Carey, the global investment management company, has acquired two office and logistics facilities in Zagreb, Croatia for EUR 77 mln including acquisition fees. The transaction is W. P. Carey鈥檚 first in Croatia was conducted via CPA Global, one of its publicly held non-traded REIT affiliates.
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PropertyEU Archive
Allianz RE confirms purchase of Capital 8 in Paris
Allianz Real Estate has confirmed the acquisition of the Capital 8 office complex in Paris from Franco-Dutch property group Unibail-Rodamco. Although the acquisition price was not disclosed, market sources indicate that Allianz RE is forking out EUR 260 mln to acquire the 18,000 m[sup]2[/sup] Grade-A complex. The transaction is said ...
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PropertyEU Archive
Bank lending continues to fall
Bank lending in sterling to real estate improved by 拢3.2 bn (EUR 3.7 bn) in Q1 2010, after falling over the last two quarters. Total lending reached 拢246 bn (including lending by building societies), according to a report by Jones Lang LaSalle based on the latest Bank of England ...
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PropertyEU Archive
Sonae Sierra in talks to buy stake in German mall
Portuguese retail specialist Sonae Sierra has confimed that it is in negotiations with German project manager HLG to buy an interest in the Hofgarten shopping centre project in Solingen, Germany. A Sonae Sierra spokesperson told PropertyEU that 'the negotiations have been very positive until now' but added that a final ...
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PropertyEU Archive
Signa Recap buys Vienna tower with German insurer
A joint venture between Vienna-based Signa Recap Development Fund I and a large German insurance group has acquired a 100% interest in the IZD Tower in Vienna from Matrix European Real Estate Investment Trust (MEREIT) for over EUR 212 mln. Although the name of the insurance group was not disclosed, ...
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PropertyEU Archive
Redevco opens Part Dieu extension with Unibail Rodamco
Unibail-Rodamco and Redevco opened the new 15,000 m[sup]2[/sup] extension of La Part Dieu shopping centre in Lyon this week. The extension comprises 25 units fully let to international and local retailers including Saturn, Monoprix, New Look, G Star, We Store and Tommy Hilfiger.
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PropertyEU Archive
KanAm recloses Grundinvest fund
KanAm said on Thursday it has reclosed its Grundinvest open-ended property fund for redemptions for a three-month period following strong capital outflows last weekend in reaction to draft German investment laws which propose tighter notice and mininum holding periods for investors. In a statement, KanAm said the move was intended ...
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PropertyEU Archive
Italy sees renewed interest from international investors
International investors' appetite for Italian real estate has been growing strongly in the first months of 2010, but few of the deals being considered are ultimately completed, according to CBRE's head of capital markets Paolo Bellacosa. 'Several investors are looking to buy but the success rate of deals is still ...
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PropertyEU Archive
Signs of prelets spark optimism in Madrid office market
Madrid鈥檚 office market has seen the return of prelets including a 15,000 m[sup]2[/sup] deal signed by AENA (Spanish Airport and Air Travel) at the beginning of Q2, in addition to over four deals signed in the northern zone in the last quarter, according to global real estate adviser Savills.
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PropertyEU Archive
Berlin Hyp upbeat after higher Q1 results
German bank Berlin Hyp boosted pre-tax profit by 10.2% to EUR 21.6 mln in Q1 compared to the average quarter last year. Net profit came to EUR 13.2 mln, the bank said in a press statement. Interest and net commission income was steady at EUR 53.9 mln.
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PropertyEU Archive
Hotel investment levels up 46% in Europe in Q1
The global hotel investment market experienced a strong start to the year with first-quarter transaction volumes reaching $2.8 bn (EUR 2.1 bn), a 53% increase on the $1.8 bn transacted in Q1 2009, according to latest research from Jones Lang LaSalle. Europe, Middle East and Africa (EMEA) remained the most ...
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PropertyEU Archive
Core markets account for 80% of retail investment in Q1
Direct retail real estate investment in Europe in the first quarter 2010 accounted for EUR 5.4 bn, more than double the volume of Q1 2009, according to Jones Lang LaSalle. 鈥楾he Big 5鈥� core European markets continue to be the main focus for investors, with volumes in these markets (UK, ...
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PropertyEU Archive
Townsend Group appoints ex-ING executive
The Townsend Group has appointed Nick Cooper, former CEO of ING Real Estate Select, as Principal in its London office. His responsibilities will include growing the firm鈥檚 real estate multi-manager investment management business in the European and Asian markets and participating in the company鈥檚 Global Investment Committee.
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PropertyEU Archive
Tishman Speyer puts OpenTurm back on the market
US developer Tishman Speyer has put its Openturm office tower in Frankfurt back on the market after a failed attempt to sell the trophy building to KanAm in 2008. A Tishman Speyer spokesperson confirmed to PropertyEU that the US developer and investor has mandated CB Richard Ellis, BNP Paribas ...
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PropertyEU Archive
RREEF fund buys logistics warehouse in France
RREEF Spezial Invest, part of the RREEF group managed by Deutsche Bank, has announced the acquisition of a class A warehouse measuring 42,265 m[sup]2[/sup] in Wattrelos, near Lille in France, for a approximately EUR 21 mln.
