All PropertyEU Archive articles 鈥� Page 1935
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PropertyEU Archive
Retail investment up almost 60% in Europe in Q4 2009
Retail real estate transaction volumes in Europe rose nearly 60% to EUR 4.5 bn in Q4 2009, with the number of deals up to 100 from 66 in Q3 2009, according to Jones Lang LaSalle. However, full-year total volumes in 2009 fell 32% to EUR 12.3 bn compared with 2008.
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PropertyEU Archive
Allianz snaps up k3 office project in Hungary
Hungarian real estate developer Wing has sold the k3 green office building in Budapest to German investor Allianz, a Wing spokesperson confirmed to PropertyEU on Thursday. Allianz plans to use the complex with 17,400 m[sup]2[/sup] of office space as its new head office in Hungary.
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PropertyEU Archive
Stenham sells London building to Aegon for 拢40m
UK investor Stenham Property has completed the sale of London's 52 Grosvenor Gardens office building for over 拢40 mln (EUR 45 mln) just nine months after acquiring it from Grosvenor Estates for 拢25 mln. According to a Stenham spokesperson, the property was sold to the asset management arm of Dutch ...
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PropertyEU Archive
Invesco closes EUR 66m acquisition of Stockholm Marriott Courtyard
Invesco Real Estate announced on Thursday that it has concluded the acquisition of the newly built Marriott Courtyard Hotel in Stockholm for EUR 66 mln. The transaction was the 15th hotel purchased or committed to acquire on behalf of Invesco's hotel fund and the fund's first acquisition in Scandinavia.
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PropertyEU Archive
Vacancy rate in Belgian prime retail locations close to zero
The vacancy rate for retail units in Belgium's prime lcoations is no more than 0.02%, according to figures from Cushman & Wakefield. This translates into the availability of just nine units for let, the adviser said in response to alarming vacancy figures published recently by Locatus in the Belgian press.
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PropertyEU Archive
UK commercial property sees yields stabilise
Prime yields for UK commercial property stabilised in January, dropping just 7 basis points, the smallest monthly fall since May 2009, according to Cushman & Wakefield鈥檚 January Business briefing on the UK property investment market. The slowdown takes the all-sector average to 6.02%. Renewed falls of the scale seen last ...
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PropertyEU Archive
Pramerica freezes TMW Weltfonds for the second time
Pramerica Real Estate Investors, the property arm of Prudential Financial, said that it has halted redemptions from its TMW Immobilien Weltfonds vehicle following unusually heavy redemptions. 'The management of the fund has decided on the basis of no longer sufficient liquidity, and in order to protect the investors, to close ...
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PropertyEU Archive
Aigo Capital Partners buys 22,000 m[sup]2[/sup] in France
Aigo Capital Partners, a French investment fund created by Vietnamese businessman Quoc-Giao Tran, has acquired two office schemes with 22,000 m[sup]2[/sup] of total space in Montrouge and Morangis, France from Banque Populaire Rives de Paris. The financial details of this transaction were not disclosed.
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PropertyEU Archive
Kl茅pierre plans fresh acquisitions in 2010
Retail specialist Kl茅pierre is planning to spend between EUR 500-800 mln on new acquisitions this year and to divest between EUR 250-400 mln as part of its ongoing asset disposal programme. The Paris-listed company made the announcement at the presentation of its 2009 earnings figures after bourse on Tuesday.
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PropertyEU Archive
Ciloger to focus on retail in 2010
French fund manager Ciloger says it intends to focus on retail property this year in particular through partnerships with corporates seeking to divest their real estate. In 2009, the company concentrated on residential assets with a total of EUR 358 mln being spent in housing over the course of the ...
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PropertyEU Archive
Poste Italiane to sell EUR 50m Milan office
Poste Italiane, the Italian postal services group, has put its Milan headquarters up for sale. The minimum bid for the historical building in the centre of Milan is EUR 50 mln, the state-owned group said, with the bidding process planned to close on March 25.
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PropertyEU Archive
Strong investor appetite for Bouwfonds European Residential Fund
Management of the Bouwfonds European Residential Fund has introduced a reservation system in the wake of strong investor appetite from primarily institutional investors. The fund manager had already increased its acquisition pipeline and introduced a waiting list for amounts above EUR 5 mln after total inflows far exceeded expectations in ...
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PropertyEU Archive
Sporadic signs of recovery in CEE: JLL
There are early but sporadic signs of recovery in the markets of Central and Eastern Europe, according to Jones Lang LaSalle's report CEE City Reports Q4 2009.
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PropertyEU Archive
C&W forecasts recovery of European markets
Cushman & Wakefield is forecasting a slow recovery in European property markets this year on the back of positive GDP growth in most economies. 'Momentum may slow in the second half of the year as the cyclical impact of restocking fades, but, for now at least, a double-dip recession ...
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PropertyEU Archive
Lot size and deal velocity drive market recovery
Growth in European commercial real estate investment turnover is being driven both by a notable increase in the size of transactions and a sharp rise in the number of transactions being completed, according to a forthcoming report by CB Richard Ellis. The number of transactions completed in Q4 2009 rose ...
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PropertyEU Archive
Unibail-Rodamco steps up mall renovation programme
Unibail-Rodamco has stepped up its renovation programme of its 'jumbo' shopping malls. Speaking during a conference call on the company's 2009 results, CEO Guillaume Poitrinal said the global economic crisis has made the renovation programme more urgent than ever. 'And the crisis makes it easier in the sense that it ...
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PropertyEU Archive
Generali refinances EUR 133m property acquisition
Italian insurance giant Generali has announced that it has refinanced EUR 133 mln worth of debt related to the acquisition of 19 commercial properties (retail assets and warehouses) located on the French island of La Reunion, in the Indian ocean. The properties, acquired at end 2007 from French supermarket giant ...
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PropertyEU Archive
CEE retail investment accelerates in H2 2009: CBRE
The retail investment market in Central & Eastern Europe (CEE) picked up significantly in the second half (H2) of 2009 with turnover rising to EUR 650 mln. This brings total retail investment over the full year to EUR 760 mln, according to new research by CB Richard Ellis.
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PropertyEU Archive
Pramerica to focus on the 鈥榖ig three鈥� in 2010
Georg Hammerstein, CIO of Pramerica real estate investors, plans to target The 鈥楤ig Three鈥� markets in the coming year: the UK, France and Germany. Each of these countries has reasonable GDP growth expectations, strong liquidity and large economies, he said in an interview with PropertyEU magazine.
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PropertyEU Archive
Emerging Trends: caution and uncertainty reign in 2010
The outlook for the European real estate industry in 2010 can be characterised as one of cautious optimism coupled with uncertainty, said John Forbes, real estate industry leader EMEA at PricewaterhouseCoopers and co-author of the annual Emerging Trends in Europe report published in partnership with the Urban Land Institute.
