All PropertyEU Archive articles 鈥� Page 1931
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PropertyEU Archive
Major cities hit by decline in prime office rents: C&W
The world's leading centres have suffered an unprecedented decline in demand for office space which has contributed to the first aggregated global fall in prime office rents since 2003. Global real estate adviser Cushman & Wakefield, in its new Office Space Across the World report, says that 2009 recorded ...
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PropertyEU Archive
ECE opens glass-topped Rathaus-Galerie in Leverkusen
German inner-city shopping centre specialist ECE opens its EUR 200 mln Rathaus-Galerie in Leverkusen, Germany on Wednesday. ECE said the project's 'architectural flagship', a glass rotunda, is visible from a long distance from the shopping scheme.
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PropertyEU Archive
Norwegian Property to split up into office and hotel firms
Oslo-based Norwegian Property has initiated a process to split into two independent firms, one for office and the other to manage its hotel portfolio. The move follows the completion of a strategic review.
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PropertyEU Archive
McArthurGlen opens La Reggia outlet near Naples
McArthurGlen, a developer, owner and manager of designer outlet villages, opened its fifth designer outlet village in Italy last week. La Reggia Designer Outlet is the first retail outlet in the region of Campania. The outlet village is located 30 km north of Naples.
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PropertyEU Archive
Invesco buys 5 European hotels for EUR 154m
French hotel group Accor has divested five hotel properties with over 1,100 rooms in four European countries to Invesco Real Estate for a total of EUR 154 mln. In a statement on Friday, the hotel group said the move is 'part of the ongoing deployment of its asset-right strategy, with ...
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PropertyEU Archive
MGPA winds up 1999 vintage fund
MGPA, the private equity real estate investment advisory company, has wound up its Global Fund I, an opportunistic $480 mln global fund which delivered strong returns to investors and culminated in the successful sale of $5 bn of assets. The fund is one of the first of its time to ...
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PropertyEU Archive
Colonial to launch EUR 2b capital hike
Spain's Inmobiliaria Colonial will seek to raise EUR 1.95 bn of fresh capital as part of a long-awaited refinancing deal closed last week with creditors. In a statement on Friday to the stock market regulator, the troubled real estate company said it has reached a final and binding agreement with ...
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PropertyEU Archive
Union Investment to invest up to EUR 2 bn in 2010
Union Investment expects to invest between EUR 1.5-2 bn in European real estate this year, roughly in line with last year鈥檚 total volume, chairman of the board Reinhard Kutscher said in an interview with PropertyEU. The focus will be on core markets, he added, pointing to the UK, France and ...
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PropertyEU Archive
FDR sees 2009 losses narrow to EUR 262m
French office-focused group Fonciere des Regions reporeted losses narrowed to EUR 262 mln in 2009, from EUR 556.5 mln a year before. The Metz-based property group saw its net asset value (NAV) drop 18% year-on-year, mostly reflecting writedowns in the first half of the year. In H2 2009, NAV increased ...
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PropertyEU Archive
Corio has EUR 617 mln warchest for Multi portfolio
Retail specialist Corio has a warchest of EUR 617 mln for a potential acquisition of part of Multi Corporation's portfolio. As announced earlier, Corio is interested in gaining a stronger foothold in the German market.
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PropertyEU Archive
Mercialys to buy Grenoble mall for EUR 92m
French SIIC Mercialys said it is buying the Caserne de Bonne shopping centre in Grenoble for around EUR 92 mln. The retail specialist expects to sign the final purchase agreement during the second half of 2010.
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PropertyEU Archive
Hammerson books lower writedowns and losses
Anglo-French property investor Hammerson said on Monday that its 2009 net loss narrowed to 拢344.5 mln (EUR 390.8 mln) from 拢1.57 bn a year ago. Property sales pushed net rental income down by 2.1% to 拢293.6 mln, but the figure was up 1.1% on a like-for-like basis.
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PropertyEU Archive
CBRE named one of top global outsourcers
The International Association of Outsourcing Professionals (IAOP) has named CB Richard Ellis Group, Inc. to The 2010 Global Outsourcing 100 for the fourth consecutive year. The list recognises the world鈥檚 best outsourcing service providers across all industries, and is based on applications received and evaluated by an independent panel of ...
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PropertyEU Archive
London & Stamford sells Leeds property
London & Stamford Property Limited has announced the sale of No. 1 Whitehall Riverside, Leeds to the NFU Mutual Insurance Society Limited for 拢51.3 mln (EUR 58.3 mln). The 129,514 sq ft prime office building is multi-let to seven tenants including Cobbett's LLP, Mellon Analytical Solutions, Europe and Grant Thornton ...
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PropertyEU Archive
Average retail rents in UK set to stabilise soon: C&W
Average retail property rents declined just over 8% in 2009, says Cushman & Wakefield in its latest quarterly update on the UK market. The property adviser notes that although rents declined by a further 1% in the final quarter of 2009, the rate of softening has begun to ease and ...
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PropertyEU Archive
Eurasia sells Volna centre for $140m
Russia's Eurasia Industrial and Investment Group has reached agreement to sell the Volna business centre in Moscow to local insurance group Sogaz. The transaction price amounts to around $140 mln (EUR 103 mln).
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PropertyEU Archive
Topland to sell 拢200m of smaller assets
Topland Group is seeking to take advantage of the recovering investment market to sell 拢200 mln (EUR 239 mln) of smaller assets.
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PropertyEU Archive
Corio boosts earnings in 2009
Listed retail specialist Corio saw its direct result (from rental income) rise 6.9% in 2009 to EUR 218 mln. The indirect result came to a negative EUR 350.1 mln compared to a negative EUR 443.7 mln in 2008 reflecting further writedowns of the portfolio. In total, the value of the ...
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PropertyEU Archive
Neinver outlet centres boost sales in Europe by 28%
Neinver, one of Europe's leading retail operators, with 11 outlet centres and more than 1,000 stores, ncreased the turnover of the outlet centres it operates in Italy, Germany, Spain, Poland and Portugal, by 28% in 2009 compared to 2008.
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PropertyEU Archive
Lunkewitz sells Renaissance Haus for EUR 53m
Frankfurt-based publisher Bernd F. Lunkewitz has sold the Renaissance Haus scheme in Munich to an unnamed institutional investor for around EUR 53 mln. Built in 1902, the historic office building was completely renovated between 2001 and 2003 and currently provides 14,000 m[sup]2[/sup] of leasable area divided across seven floors.
