Unibail-Rodamco announces that it has signed an agreement with Perella Weinberg Real Estate Fund I (PWREF) to acquire a 51% stake in the holding company owning 90.4% of mfi AG, Germany's second largest shopping center operator, investor and developer. In addition, the Group has agreed to acquire from PWREF 50% of Ruhr-Park, one of the largest shopping centers in Germany. The transaction The total value of underlying real estate assets within the scope of the transaction amou
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The
EU may be able to achieve the biggest pay-offs in its key twin policy
goals of boosting growth and cutting the bloc’s energy consumption by
20% by 2020, through harnessing the economic power of Europe’s real
estate industry and channeling financing through the transparent and
efficient listed property sector, the European Public Real Estate
Association (EPRA) said in a consultative response to the European
Commission.
EPRA
was responding to th
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Kiev
E95 Outlet Center Team is preparing for a new phase of project
development, which includes the start of construction of the outlet
center building and further site improvements. At
this stage, the developer has already obtained the land ownership and
all construction permits, as well as completed preparatory works on the
site and progressed ahead with installation and reconstruction of the
engineering networks. The debt financing is provide
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East Capital Baltic Property Fund II has completed the acquisition of VGP Warehouse Park for around €24 million reflecting a property yield above 9 percent. This deal has been heralded as the largest deal in the Baltics to date this year. On May 2, the first closing of East Capital Baltic Property Fund II took place with €11 million in committed capital and East Capital Explorer as the anchor investor. VGP Warehouse Park is a newly built and modern logistics prope
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After
only 10 months of construction, the new Poznan Glowny train station has
been officially inaugurated by the President of the Republic of Poland,
Bronislaw Komorowski, who also earned the distinction of becoming the
first passenger to use the new facilities.
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Panattoni
Europe, industrial space market leader, has embarked on the final stage
in the build-out of Panattoni Park Czeladz. The new project is a 10,700
m² facility which will be occupied by a company from the
electro-technical sector, Johnson Electric.
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Hines,
the international real estate firm, has announced the closing of the
Hines Russia & Poland Fund (HRPF), a Luxembourg-based fund which has
been formed to invest more than €900 million into Russian and Polish
real estate investments.
This
is the fourth Hines fund with a strategy to invest in Russia and
Poland. Equity has been committed to the fund from a diverse group of
financial institutions, sovereign wealth funds, pensions, trust
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Prime office rents fell by 0.3 percent in Q1 2012, according to the
Jones Lang LaSalle European Office Index. This is the first overall
recorded reduction in rents since Q4 2009. The net reduction
masked both rises and falls across several prime office rental markets.
Falls were recorded in Brussels (-5.0 percent), Madrid (-1.9 percent),
Barcelona (-1.4 percent) and Paris (-1.2 percent) whilst rental
increases were recorded in Luxembourg (+5.3 percent), Stockholm (+2.4
per
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Investment turnover in the European retail property market slowed in the
first quarter of 2012 (Q1 2012) with few large transactions taking
place. However, investor sentiment remains buoyant and activity is
expected increase from Q2 2012 onwards. The retail property
investment market in Europe totalled €4.6 billion in Q1 2012, which
represents a 64 percent fall in activity compared with the last quarter
of 2011 and less than a half of the quarterly average from the las
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Investors are not flying to prime, but to sustainable rental values,
according to a panel of investors at this year’s ICSC European
Conference in Berlin. Risk adverse investors are also concentrating on
core European markets. Those who are still investing prefer
to invest through joint ventures or club deals rather than through the
‘fund’ model that was so popular before the crisis. This is because
investors want fewer partners and more control with their investments. <
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