Commercial Property News - International Realestate News

Chartwell to Buy Out Seniors Housing JV

Scott Baltic, Contributing Editor — Fri, 05 Sep 2008 06:39:00 EDT

Residences Melior, an affiliate of Groupe Melior, of Montreal, has exercised its right under a joint venture agreement with Chartwell Seniors Housing REIT to sell to Chartwell the remaining 50 percent interest owned by Melior in seven assisted-living properties in the Province of Quebec.

European ProLogis Fund Secures $383M Refi

Barbra Murray, Contributing Editor — Fri, 05 Sep 2008 06:40:00 EDT

ProLogis European Properties Fund II, a private equity fund established by Denver-based distribution facilities provider ProLogis, has attained a five-year secured term loan facility valued at €264 million, or approximately $383 million, for the purpose of refinancing 34 properties in Central Europe.

Inmobiliaria Colonial Nears Debt Restructuring

Scott Baltic, Contributing Editor — Thu, 04 Sep 2008 03:15:00 EDT

Inmobiliaria Colonial SA of Barcelona is reportedly close to finalizing a $12.9 million deal with its various creditors that could include the sale of some assets and a future infusion of cash from shareholders.

ProLogis Inks 475,000-SF Build-to-Suit Deal Near Paris

Judy Feldman, Contributing Correspondent — Thu, 04 Sep 2008 12:40:00 EDT

ProLogis has announced that it will build a new, 475,000-square-foot industrial warehouse near Paris for C&A France, the French subsidiary of international clothing retailer C&A.

U.S. Private Equity Firms Seek Bargains in Japanese REIT Market

Gail Kalinoski, Contributing Editor — Tue, 02 Sep 2008 06:36:00 EDT

Japanese REITs, which have lost more than 50 percent of their value on the Tokyo Stock Exchange since their peak last year, are increasingly attracting the attention of U.S.-based private equity firms like Oaktree Capital Management, which has launched the first tender offer for a REIT in Japan.

LaSalle Closes Third Asia Opportunity Fund

Dees Stribling, Contributing Correspondent — Tue, 02 Sep 2008 11:16:00 EDT

The LaSalle Asia Opportunity Fund III has closed with the raising of some $3 billion focused on real estate investments in the developed nations of Asia, including Japan, South Korea, Hong Kong, Singapore and mainland China.

GPT Plans to Sell Number of Assets

Fri, 29 Aug 2008 10:21:00 EDT

Australia-based REIT GPT Group has been hammered lately--and not news reports indicate it may need to sell almost $8 billion of its assets to turn itself around.

First Publicly Accessible Space in World’s Tallest Tower Opens

Amanda Marsh, Associate Editor — Fri, 29 Aug 2008 09:12:00 EDT

The Olympics may be over in China, but the exciting events haven’t stopped there. The highest publicly accessible built space, part of the tallest building in the world—the 101-floor, 1,614-foot Shanghai World Financial Center, has now opened.

Westfield Nabs Interest in U.K. Retail Owner

Tonie Auer, Southwest Correspondent — Fri, 29 Aug 2008 06:56:00 EDT

Less than a week after Simon Property Group acquired a 3.14 percent stake in U.K. retail property firm Liberty International, Australia-based Westfield Group has stepped up to take a 2.96 percent interest in Liberty.

Parque Arauco Appoints General Manager to Lead Colombia Expansion

Wed, 27 Aug 2008 10:57:00 EDT

Parque Arauco S.A., a Latin American shopping center developer and operator, has announced the appointment of Juan Pablo Romero as general manager of Inversiones Colombianas Arauco Ltd., Parque Arauco S.A.’s wholly-owned Colombian subsidiary.

Taubman Asia Unveils Flagship Stores at The Mall at Studio City, Macao

Wed, 27 Aug 2008 10:50:00 EDT

Taubman Asia, a subsidiary of U.S. mall REIT Taubman Centers Inc. has unveiled its roster of flagship stores at The Mall at Studio City in Macao.

JV Investment Boosts $3.4B India Mixed-Use Portfolio

Barbra Murray, Contributing Editor — Wed, 27 Aug 2008 06:51:00 EDT

In return for $126 million and change, Tel Aviv, Israel-based Elbit Imaging Ltd. has forked over part of its stake in a $3.4 billion mixed-use project portfolio in India via a new joint venture. It's a family arrangement, however. The investment comes from Elbit Imaging subsidiary Plaza Centers N.V., an emerging markets property developer focusing on projects in Central and Eastern Europe and in India.

Wyndham to Open 20 Ramada Encore Hotels in South Korea

Barbra Murray, Contributing Editor — Tue, 26 Aug 2008 09:09:00 EDT

Parsippany, N.J.-based Wyndham Hotel Group has made a move to increase the visibility of its Ramada properties in South Korea with the signing of an exclusive agreement with Seoul-headquartered AT Hotels Management to open 20 Ramada Encore destinations over the next six years. AT Hotels will develop and manage the properties, which will offer 80 to 200 guestrooms.

Host Hotels, RECO Hotels Hires Meyer as Managing Director

Mon, 25 Aug 2008 11:10:00 EDT

Host Hotels & Resorts Inc. and RECO Hotels JV Private Limited said today that Peter Meyer has been appointed the managing director of the companies' Asian joint venture. Meyer will be based in Singapore.

Simon Takes Liberty Stake

Sun, 24 Aug 2008 08:37:00 EDT

Simon Property Group Inc. has notified Liberty International plc that it has taken a 3.14 percent stake in the British firm, according to a filing by the American retail real estate giant.

Bidders Circle Urban Corp.

Thu, 21 Aug 2008 10:46:00 EDT

Bidders are circling Japan's Urban Corp., according to a Bloomberg News report. Sources tell the news agency that there might be 10 firms interested, including Merrill Lynch & Co.

Prime Income to Build $733M Resort in Germany

Amanda Marsh, Associate Editor — Thu, 21 Aug 2008 06:11:00 EDT

Dallas-based Prime Income Asset Management and Port Olpenitz GmbH are ready to break ground on the approximately $733 million, 425-acre Port Olpenitz, a holiday resort located in the northeastern section of Schleswig-Holstein, Germany.

Equity International Brazilian Logistics Investment

Wed, 20 Aug 2008 12:22:00 EDT

Equity International, the privately-held investment company focused on real estate-related businesses operating outside of the United States, has announced the closing of a $100 million commitment in AGV Logística, a privately-held logistics company based in Sao Paulo, Brazil.

South Pacific Development Group Secures Land Lease for $450 Million Samoan Resort

Wed, 20 Aug 2008 12:05:00 EDT

Hawaii-based South Pacific Development Group has obtained a 120-year lease for 600 acres of prime oceanfront land on Savaii Island in Samoa to develop the Sasina Village Resort.

ProLogis Expands Industrial Portfolio in Mexico

Judy Feldman, Contributing Correspondent — Wed, 20 Aug 2008 10:23:00 EDT

ProLogis plans to develop approximately 500,000 square feet of industrial warehouse space in Ciudad Juarez, Mexico. The firm is now beginning phase one of the development at ProLogis Park Centro Industrial Juarez in Ciudad Juarez.