Property News from Globe St.
First Hilton Opens after $100M Renovation
MOSCOW, RUSSIA-The Hilton Moscow Leningradskaya went into one of the area’s historic landmarks, as the first of many for the brand in the large, underserved country.
Keen Adds Tenants to New $141M MXD Project
WALBRZYCH, POLAND-Keen Property Partners is signing up retailers to the Galeria Victoria, which will have retail, residential and a hotel, near the Czech Republic border.
Heathrow Has Highest Industrial Rents in World
LONDON-Also, several Asian port cities command warehouse rents at more than $15 per sf, according to a mid-year Colliers report.
Prime, HarmInvest Finish $738M MXD Plan
KAPPELN, GERMANY-The company’s plan to build the largest resort, with more than 7,000 guestrooms, in northern Europe
193,750-SF Landmark Hits Bull's Eye of CBD Need
TIRANA, ALBANIA-With so little class A office space, the Millennium Group is underway on a spec office that lives up to international standards and a city must-have for a cinema.
Wagon Works $58M Manufacturing Sale-Leaseback
NAGOLD, GERMANY-The United Kingdom-based firm, a manufacturer of vehicle body structures, is working a $58 million sale-leaseback of two manufacturing sites.
6M-SF Zurich Portfolio Now in CBRE's Hands
LONDON-Zurich Financial Services Group outsources its office, retail and back-office space in Mainland Europe for the first time, giving CBRE a foot in the door to expand the pact.
JP Morgan Moves Site for 1M-SF Office Tower
LONDON-The company says it had to drop plans for a new building in the city’s Square Mile district, and instead will go forward at Canary Wharf.
Hotel Sales Drop 76% to $13.9B in First Half
LONDON-The global trend isn’t helped by the Americas dismal showing, and fewer large deals are getting done as well, according to a JLL report.
$70M MXD Adding New Dimension to Novi Sad
NOVI SAD, SERBIA-Park City's site abuts a park and is 200 meters from the Danube River. The landmark mix of highbrow residential, office and retail will deliver in late 2009.
Vacation-Condo Firm Relishes Credit Crunch
LONDON-The credit crunch is leading to buying opportunities in overlooked markets, firm says.
Seeda, Stanhope Opening Talks for Ashford's MXD
ASHFORD, KENT-The South East England Development Agency confirms a best and final is over. Talks can begin for a public-private partnership to develop a 550,000-sf town center.
Westcore Sells 125,000-SF Office for $39M
VIENNA-The US owner turns over a class A building to Credit Suisse in a value-add play underwritten by new 10-year leases and upgrades.
179 Units Roll Into ING's $789M Fund
PARIS-In its second major buy this year in France, ING gains more ground in the residential market. This time, its French Residential Fund gets five assets for $32.7 million.
Historic Building In Line for $223M Hotel Redo
PARIS-The deal is still tentative between Qatari Diar and Hongkong and Shanghai Hotels. If it works out, a Peninsula flag will fly over a historic building near the l'Arc de Triomphe.
W.P. Carey Group Nabs $58M German Acquisition
SOEST, GERMANY-W.P. Carey is acquiring two properties from Germany-based Arques for $58 million. The company will lease the space back to an Actebis, an Arques subsidiary.
QPG Starts on Two-Tiered Emporia Towers
BRATISLAVA, SLOVAKIA-Quinlan Private Golub says its agents, CBRE and Apollo, are already in negotiations with tenants for the 245,000-sf office complex.
First REIT Enters France, Germany With $475M
CHICAGO-The trust will use joint venture money with CalSTRS to acquire properties in the two largest industrialized countries in Europe.
Sponda Wins L&R's Nod for $185M Moscow Buy
MOSCOW-London & Regional Properties, planning to stay as a tenant, passes the deed in a three-month spin after showing the 147,767-sf Ducat Place II to few select buyers.
Delta's $316M CBD Plan Ready to Roll Out in '09
BELGRADE, SERBIA-Delta's redevelopment lifts off with a 325-key InterContinental Hotel and moves to a full redo of an existing hotel plus new office and retail space.