All PropertyEU Archive articles 鈥� Page 1950
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PropertyEU Archive
Spanish bank buys half-built Strand hotel in London
A subsidiary of Spanish bank BBVA has acquired the Strand hotel in London for significantly more than the minimum sales price of 拢110 mln (EUR 122 mln). Property adviser Cushman & Wakefield (C&W), which in October was instructed by receivers at PricewaterhouseCoopers to market the luxury hotel and residential development, ...
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PropertyEU Archive
Nordea Poland enters pre-lease deal with Landprop
Nordea Bank Polska has entered into a pre-lease agreement with Landprop Services for 11,600 m[sup]2[/sup] at a built-to-suit office building in Gdynia, Poland. The agreements signed are the culmination of a thorough search of all Nordea's alternatives in conjunction with Nordea's consultant Catella Property Group.
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PropertyEU Archive
Predica, SFL in joint deal in Paris
Predica, a Cr茅dit Agricole Assurances subsidiary, and Soci茅t茅 Fonci猫re Lyonnaise (SFL) have become joint owners of a building in Paris for EUR 16.6 mln excluding transfer costs. The acquisition was carried out through their joint subsidiary, Parholding. The vendor, Rivoli Avenir Patrimoine, is an SCPI real estate investment fund represented ...
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PropertyEU Archive
EPL gets EUR 170m refinancing facility
Westdeutsche ImmobilienBank (WestImmo) acting as agent and Deutsche Pfandbriefbank acting as security agent have provided EPL with a EUR 170 mln refinancing facility for a six office building portfolio. The transaction was arranged, underwritten and completed in a 50/50 club deal on 15 December 2009. EPL was advised by ...
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PropertyEU Archive
Major deals in Q4 boost 2009 office take-up in Brussels
Massive last minute transactions in the final quarter of 2009 boosted office take-up in Brussels over the full year to a total of 400,000 m2, according to a report by Cushman & Wakefield. Major transactions involved GDF Suez taking 75,000 m[sup]2[/sup] in the North Pole and North Star towers developed ...
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PropertyEU Archive
European direct investment to reach EUR 85b in 2010: JLL
Jones Lang LaSalle expects 2010 to be a challenging year for investors to navigate, with recovery uneven across Europe, according to a new report released today, Capital Markets Outlook 2010 - Uneven Terrain. Investors will find it difficult to secure product, to identify value and to establish pricing levels. Many ...
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PropertyEU Archive
Invesco acquires City One in Lyon at 6.5% yield
Jones Lang LaSalle, acting on behalf of Invesco Real Estate (IREEF), has acquired the City One building in Lyon from German fund manager Kanam. The asset is situated in the 6th district of Lyon, in the Cit茅 Internationale, with a lettable surface of approx 17,000 m[sup]2[/sup].
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PropertyEU Archive
Herald fund acquires Centre Sud in France for EUR 64m
Henderson Global Investors' EUR 850 mln pan-European retail property fund, Herald has acquired the Centre Sud shopping centre, Le Mans, France from ING Retail Property Fund France Belgium (RPFFB), a commercial investment fund managed by ING Reim, for EUR 64.4 mln.
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PropertyEU Archive
GOEFs see net inflows of EUR 65m in November
Germany's open-ended property funds recorded net capital inflows of EUR 65 mln in November 2009, a sharp turnaround from the EUR 660 mln in net outflows registered the previous month, new figures from German fund industry body BVI show.
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PropertyEU Archive
Knight Frank advises on Cofinimmo disposal
Knight Frank's Belgian unit acted as adviser on the sale of a prime office building in the central business district of Brussels last year by Belgian listed company Cofinimmo to Germany's APO Immobilien-Kapitalanlagegesellschaft (AIK). Clifford Chance acted as legal adviser.
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PropertyEU Archive
Roland Investments owner of Bonarka City Center
The investor in Bonarka City Center is Roland Investments, a dedicated project company jointly owned by Trigranit Holding (80%), and IPR (20%). The December issue of PropertyEU magazine incorrectly reported that TK Development was the investor.
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PropertyEU Archive
Catalyst & JER sell refurbished office property in Brussels
Catalyst Capital Partners and JER have sold an office property in Brussels to a private Belgian investor. No financial details were disclosed, but sources close to the deal said the sales price came to EUR 2.75 mln. Knight Frank's Belgian unit advised the vendor on the transaction.
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PropertyEU Archive
CBRE Investors sells complex in Brussels
CB Richard Ellis Investors, the global real estate investment management firm, has sold the 17,000m虏 office complex, 鈥榯 Serclaes, to the Hogeschool-Universiteit Brussel (HUB). Financial details were not disclosed.
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PropertyEU Archive
London rallies at year-end: C&W
London has recorded its third consecutive quarter of rising investment in commercial property according to new statistics from property adviser Cushman & Wakefield. In Q4 investment volumes rose to just over 拢3bn (EUR 3.3 bn), up from 拢1.602 bn in Q3, for an annual total of 拢6.81 bn. Although ...
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PropertyEU Archive
Eurostate in EUR 150m hotel investment joint venture
Eurostate, a privately held fund manager based in Barcelona, has signed a partnership agreement with an undisclosed hotel investment fund, controlled by a large sovereign wealth fund, to purchase boutique hotels in the main Spanish cities and European capitals.
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PropertyEU Archive
Citadel buys French office building for EUR 33m
Citadel, the French property arm of London-based CLS Holdings, has acquired a 7,357-m[sup]2[/sup] office building at 7 rue Eug猫ne et Armand Peugeot, 92500 Rueil Malmaison from Corio. The consideration inclusive of all costs was EUR 33 mln. The property, built in 1988, was partly refurbished in 2005/06, and substantially ...
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PropertyEU Archive
WP Carey enters Spain with EUR 36m retail deal
US investment group W. P. Carey said it has completed the acquisition of a portfolio of Eroski supermarkets in Spain for $51 mln (EUR 36 mln). The Spanish sale-and-leaseback purchase was carried out by CPA(R):17 - Global, one of W. P. Carey's publicly-held REIT affiliates, and comprises 13 retail facilities ...
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PropertyEU Archive
King Sturge predicts best returns for 4 years
2010 will be a boom year for commercial property investment with the best returns for four years, according to Angus McIntosh, Head of Research at London-based King Sturge. He cautioned, however, that the boom year may be a false dawn. 'Total returns may well stay positive but capital values may ...
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PropertyEU Archive
Ferrovial sells Madrid HQ for EUR 40m
Spanish construction and property group Ferrovial has sold its head office in Madrid to a private real estate investor for around EUR 40 mln. The company is leasing back the asset for 12 years with an option to extend the lease by a further 10 years.
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PropertyEU Archive
Fimit's Delta fund buys 5 cinemas for EUR 65m
Italian fund manager Fimit said that its listed Delta closed-end property investment fund has acquired a fully-let portfolio consisting of five multi-screen cinemas for a total of over EUR 65 mln. The transaction reflects a gross yield of 7.5%.
