Thursday, 02 July 2015
China’s Fosun has formed a real estate joint venture with UK manager Resolution Property targeting pan-European value-add assets, and will likely be a cornerstone investor in Resolution’s upcoming fund which could repeat its record ¤800m offering, writes PIE UK Editor Simon Meads in a blog.
Frankfurt landesbank Helaba raised first half new business to ¤5.5bn from ¤4.4bn in 1H14, and is mulling opening an office in Stockholm to expand lending in Scandinavia, says Board Member Jürgen Fenk. It will also widen its syndication business.
French Amundi Immobilier is not confirming that it has won the bid for the Aqua pan-European office portfolio from Germany's Union Investment Real Estate for around ¤1bn, as reported by French media. A Union spokesman also said Tuesday that the deal is not yet closed.
Frankfurt-based listed property investor Demire, formerly called Magnat, has bought a portfolio of six offices across Germany leased long-term to telecoms giant Deutsche Telekom from Swiss private equity firm Corestate. The purchase price was not disclosed but specialists estimate the deal is worth around ¤300m.
German developer and investor Aurelis Real Estate has bought four business parks in Germany from Hamburg-based cooperative manager Union Investment Real Estate. Price was not disclosed but specialists estimate it at around ¤100m.
French insurer Groupama has launched the renovation of its Elysées Défense building in the Paris business district of La Défense at a refurbishment cost of some ¤120m, redesigning to larger floorplates and modular uses.
French realtors are all reporting tentative signs of an improvement in the housing market, with sales stimulated by price declines and a growing move by buyers to lock in purchases before mortgage financing rates start to rise.
First half office space take-up in the seven largest German cities rose 13% to 1.52m sq.m., the highest since 1H11 and with over 1m sq.m. vacant space filled over the past 12 months, opportunities are emerging for speculative developments, says realtor Colliers.
Giant Hamburg-based retail developer and investor ECE says fashion stores have increased their share of space leased at its centres to 29% from 10% in the 10 years to 2014 while department stores cut to 10% from 16%. Food retailers have also boosted presence.
French listed investment group Eurazeo has acquired a 78% stake in the CIFA Fashion Business Centre in Paris, its first investment there for its Eurazeo Patrimoine real estate management division. Specialists estimated the price at around ¤220m.
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