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Bidders Circle Urban Corp.
Aug. 21, 2008
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
Aug. 21, 2008
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
Aug. 20, 2008
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
Aug. 20, 2008
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
Aug. 20, 2008
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.
W.P. Carey Closes $58M Sale-Leaseback in Germany
Aug. 20, 2008
New York City-headquartered W.P. Carey, acting through its publicly held non-traded REITs CPA(R):15 and CPA(R):17 - Global, has completed a sale-leaseback transaction in Germany with U.K.-based automotive supplier Wagon Plc.
Emaar Begins Sales at $3.2B Master-Planned Community in Dubai
Aug. 19, 2008
Development in Dubai continues to explode with Emaar Properties, the Middle East’s largest builder, saying it is beginning sales this week for its newest residential master-planned community.
Olympic Village in Beijing Earns LEED Gold Certification
Aug. 18, 2008
The plan for the Olympic Village in Beijing, the temporary home to 17,000 athletes from around the world, has been awarded LEED-Gold certification by the U.S. Green Building Council under its pilot LEED for Neighborhood Development certification program.
Work Gets Underway on $150M Wellness Resort in Mexico
Aug. 15, 2008
Construction has commenced on Taheima Wellness Resort & Spa, a project in Nuevo Vallarta, Mexico, spearheaded by Whole In One Nuevo Vallarta S.A. de C.V. To be developed at a cost of $150 million, the upscale condo-hotel will ultimately feature 400 units. Whole In One is targeting the baby boomer set in North America and South America, highlighting the property's wellness-centric attributes.
PMI to Sell Australian Operations to QBE Insurance for $920M
Aug. 15, 2008
Just one week after stating its Australian operations were delivering solid results, The PMI Group, a mortgage insurance company, announced today it has agreed to sell its Australian subsidiary and related holding company to QBE Insurance Group for approximately $920 million. The two companies also reached an agreement in principle for the sale of Hong Kong-based PMI Asia to QBE, Australia’s largest international general insurance and reinsurance group, for about $55 million.
Vornado Increases Presence in India with New $500M Retail JV
Aug. 14, 2008
Paramus, N.J.-based Vornado Realty Trust has just formed a joint venture with Mumbai-based Reliance Industries Ltd. to acquire, develop and manage shopping centers in major cities across India. Vornado and Reliance will each contribute as much as $250 million to the partnership.
Falcon Realty Services Shifts Focus to Development
Aug. 11, 2008
Falcon Realty Services Private Ltd., which has spent 20 years in the land buying and dealing sector in India, has made its first moves into development, the company has reported. The firm is now in the planning plans of eco-friendly developments, including the development of infrastructure and support focusing around industrial hubs, it said in a statement.
Cable and Wireless Jamaica to Sell Some Commercial Properties
Aug. 07, 2008
The Cable and Wireless Jamaica Pension Fund, one of Jamaica’s largest pension funds, has put four of its commercial properties on the block in a move described as a restructuring of assets, the fund has reported.  The properties for sale are both office and retail types.
Allied Properties Acquires 5505 Saint-Laurent Boulevard in Montreal
Aug. 06, 2008
Allied Properties REIT has completed the previously announced acquisition of 5505 Saint-Laurent Boulevard in Montreal.
JV to Develop Industrial Projects in Brazil
Aug. 06, 2008
Cyrela Commercial Properties S.A. Empreendimentos e Participacoes entered into a strategic alliance agreement with AMB Property Corp. to develop projects in Brazil's industrial segment.
Binswanger Negotiates Long-Term Lease in Costa Rica
Aug. 06, 2008
On behalf of Conair Corp., Binswanger executed a long-term lease of a 221,000 square feet, two-building complex in Turrialba, Costa Rica, to Firestone Industrial Products de Costa Rica S.A., a subsidiary of BFS Diversified Products L.L.C.
Secluded Caribbean Destination to Get $217M Airport
Aug. 06, 2008
Officials of St. Vincent and the Grenadines have made headway in the plan to make the multi-island country more accessible with the groundbreaking on the Argyle International Airport. The development, which carries a price tag of $217 million, will mark the country's largest project ever to be undertaken. The new facility will occupy a 375-acre parcel that is currently home to the Joshua Airport. Upon Argyle's scheduled completion in 2011, the former airport will be transformed for commercial use.
New Songdo Gale Hits Milestone with $35B South Korea Enclave
Aug. 06, 2008
Realization of the Songdo International Business District, the $35 billion master-planned enclave New York City-based Gale International has been developing in Incheon, South Korea, becomes more tangible with the completion of the 1.3 million-square-foot Songdo Convensia Convention Center, its first building. More structures in the 1,500-acre development are on target to deliver within a year.
Zurich Inks Euro-Deal With CB Richard Ellis
Aug. 06, 2008
Zurich Financial Services Group has picked CB Richard Ellis Group Inc. as a provider of a variety of real estate services for the company in Europe, including transaction management and strategic consulting. The deal represents the first time that Zurich has hired a single service provider for Europe.
Hill International to Project Manage SmartCity Kochi in India
Aug. 05, 2008
Hill International has announced it has been awarded a contract by SmartCity (Kochi) Infrastructure Private Ltd. to provide project management services for the SmartCity Kochi development in India.
ProLogis Leases 211,000 SF to Centrum Logistics in Romania
Aug. 04, 2008
ProLogis has leased 211,000 square feet of industrial space in Bucharest, Romania, to Centrum Logistics, a European provider of third-party logistics services and a subsidiary of Groep H. Essers, a Belgium-based transport and logistics company.
RICS Survey: Real Estate Feels the Heat Worldwide
Aug. 04, 2008
Real estate markets in most of the developed world are decidedly feeling the pinch of the economic malaise that started last year, according to the RICS Global Commercial Property Survey for the second quarter of 2008. Emerging markets, however, pose a more mixed picture. RICS -- the Royal Institution of Chartered Surveyors -- found, among other trends, a deterioration in occupier activity and increased vacancies across the developed world in the second quarter, with some emerging markets also losing steam. Tenant demand fell at a faster pace in the developed world in the second quarter than the first.
Premium Australian Beachfront Resort Trades in $120M Deal
Aug. 01, 2008
Seahaven Resort on Noosa Beach in Brisbane, Queensland, has just come under new ownership, courtesy of a $120 million deal. With the assistance of real estates services firm CB Richard Ellis Inc., entities associated with Melbourne, Australia's Carter Group and Michael Callaghan of Sydney sold the property to a group involving Brisbane's Consolidated Properties, London-based BlueSky Capital and an international consortium of investors. Seahaven Resort is the last substantial freehold property on popular Noosa Main Beach.
RioCan in $40M Sale-Leaseback of Ottawa Retail Property
July 31, 2008
RioCan Real Estate Investment Trust, Canada’s largest REIT, has purchased a 142,000-square-foot, two-story retail building in Ottawa for $40 million and agreed to a 15-year lease to the seller and primary tenant, Canadian Tire.
Element Abu Dhabi Element Hotel Brand to Make EMEA Debut with New Property in Abu Dhabi
July 31, 2008
Starwood Hotels & Resorts Worldwide Inc. has joined forces with Abu Dhabi National Exhibitions Co. to open Element Abu Dhabi, which will be the first property in the Europe/Middle East/Africa region to operate under Starwood's new green-centric Element brand. The 270-room extended-stay hotel will be located in the sprawling $2.3 billion Capital Centre commercial and residential micro-city development.
 

International Real Estate at your Fingertips


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