All PropertyEU Archive articles 鈥� Page 1933
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PropertyEU Archive
Union Investment takes control of Berlin mall for EUR 316m
Union Investment has finalised an agreement with Sonae Sierra and Fonci猫re Euris/Rallye to become the new majority owner of the Alexa shopping centre in central Berlin. Each of the investors had a 50% share in the property and the Hamburg-based property fund manager paid EUR 316 mln to acquire ...
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PropertyEU Archive
AEW Europe drives deeper into core office market with German buy
AEW Europe鈥檚 Euroffice Fund has purchased an office building in Frankfurt for EUR 39.5 mln from Australia鈥檚 Macquarie Office Trust. Rob Reiskin, AEW Europe鈥檚 Head of Investments said: 'We believe now is the right time to be moving back into some parts of the Continental European core office market, to ...
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PropertyEU Archive
ING REIM to fall under Banking, not Insurance
ING is to incorporate its Real Estate Investment Management (REIM) unit into its Commercial Banking division, not the Insurance arm as announced last year, the Dutch financial services group revealed at its 2009 earnings presentation on Wednesday. The decision means that the REIM unit will now fall under the Banking ...
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PropertyEU Archive
Cushman & Wakefield boosts Pan-Nordic platform
Global property adviser Cushman & Wakefield has named Malling & Co as its new alliance partner in Norway. Cushman & Wakefield had previously held an alliance agreement with Mork & Partners before it was recently acquired by Malling & Co.
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PropertyEU Archive
George Jautze to retire as CEO of ING REIM
ING Real Estate Investment Management (ING REIM) announced on Wednesday that CEO George Jautze has decided to retire. The vacancy created by Jautze鈥檚 departure from the post he took up in the summer of 2009 will not be filled. William Connelly will assume responsibility for ING REIM in addition to ...
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PropertyEU Archive
Liebrecht&Wood starts development of Polish mixed-use scheme
Flemish retail group Liebrecht & Wood plans to start development next week of its Morski Park Handlowy mixed-use scheme in northern Poland. The company said that it has appointed Hochtief Polska as general contractor for the complex.
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PropertyEU Archive
Four Polish projects to be showcased at Mipim
Three Polish shopping centres and a residential/services project in that country are among the European development schemes to be highlighted at Mipim this year. The shopping centre projects are the 40,000 m[sup]2[/sup] Serenada Shopping Centre in Krakow, which opens its doors in mid-2012; the 35,000 m[sup]2[/sup] Aleja Slonca mall in ...
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PropertyEU Archive
Legal & General Property recruits new fund manager
Legal & General Property has appointed Mark Russell as fund manager for the L&G Managed Pension Fund. Russell joins from Prestbury Investment Holdings where he was responsible for several property portfolios. Prior to this he worked for LGP from 2000 to 2006 with responsibility for investment and asset management on ...
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PropertyEU Archive
M1 completes largest London West End deal since 2007
Lebanese group M1 Real Estate has acquired Victoria House in Bloomsbury Square, London from Irish-based Moritz Group for about 拢175 mln (EUR 201 mln). Jones Lang LaSalle, which advised M1, said this was the largest office deal in the West End market since 2007. 'M1 secured the deal in front ...
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PropertyEU Archive
Silic acquires 14,500 m[sup]2[/sup] building in Nanterre
French business park owner Silic has acquired an office building with 14,500 m[sup]2[/sup] of space in Nanterre from CBRE Investors. The property, located at 21/29 Trois Fontanot, is fully rented out to French electricity company RTE and the social security assistance provider Epasa. According to market sources, the transaction price ...
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PropertyEU Archive
Sj忙ls酶 sells projects in Ballerup and 脴restad for EUR 22m
Sj忙ls酶 Gruppen announced on Tuesday that it has sold two projects in Denmark for a total of DKK 165 mln (EUR 22 mln). The listed Danish developer sold an office building in Ballerup to Dansk Ejendomsfond I for DKK 75 mln. IT assessment and certification group UL International has ...
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PropertyEU Archive
Fimit's Alpha Fund sells EUR 26m property in Rome
Fondo Alpha Immobiliare, a real estate investment vehicle managed by Italy's Fimit, has completed the sale of an office and retail property located on Via Cristoforo Colombo 70 in Rome, for an amount of EUR 25.5 mln. The buyer is an undisclosed private investor.
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PropertyEU Archive
Prupim spend 拢36 million in major Aberdeen deal
A commercial property fund managed by real estate investment managers Prupim has acquired has the Acergy Development in Westhill, Aberdeen from Stewart Milne Developments for 拢36 mln (EUR 41.3 mln).
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PropertyEU Archive
IVG acquires office property in Finland
IVG Institutional Funds has signed an agreement with YIT Rakennus to acquire the Avia Line II office property in the Finnish city of Vantaa for about EUR 8 mln.
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PropertyEU Archive
Hatfield Philips launches pan-European agency service
Hatfield Philips International (HPI), an independent primary and special servicer, has launched Hatfield Philips Agency Service (HPAS). The company says its new pan-European service expects to be substantially more efficient and cost effective than traditional in-house agency businesses.
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PropertyEU Archive
Prologis to boost stake in Prologis European Properties
Denver-based Prologis, the world's leading provider of distribution facilities, has announced plans to purchase additional ordinary shares carrying voting rights of Prologis European Properties, a Luxembourg closed-ended investment fund. The company said the transaction would take place in the open market or in privately negotiated transactions. Prologis currently holds approximately ...
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PropertyEU Archive
Core segment to remain crowded, INREV panel says
Investors in non-listed real estate funds in Europe are likely to remain focused on the core segment of the market at the expense of value-add and opportunistic styles for many years to come. This was one of the key messages during a panel discussion at a seminar held by the ...
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PropertyEU Archive
Unibail-Rodamco sells five Dutch malls to Wereldhave
Listed retail specialist Unibail-Rodamco has confirmed it is selling five shopping malls in the Netherlands to its smaller Dutch peer Wereldhave for EUR 235 mln. The divestment is part of the company's strategy to focus on large shopping centres around Europe. The deal will generate an undisclosed capital gain relative ...
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PropertyEU Archive
SFL sees 2009 losses narrow to EUR 252m
French commercial property company Soci茅t茅 Fonci猫re Lyonnaise (SFL) reported net losses narrowed by 36% in 2009 to EUR 252 mln. '2009 saw a further improvement in operating indicators thanks to firm rental revenues and reductions in both operating expenses and financing costs', the company said in a statement.
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PropertyEU Archive
Nordic investment rebounds in Q4 2009
Nordic commercial real estate investment turnover grew to EUR 5 bn in the second half of 2009, up 60% on the first half of the year, according to figures from CB Richard Ellis. The rebound was witnessed across all Nordic markets and is confirmation that investor interest is spreading across ...
