Temporary Consortium of Companies (TCC) led by Prelios wins contract to manage INPS real estate assets (IT) The decision was made after a public session of the Awarding Commission and will be formalized within the terms provided for in the current laws. The pensions agency's property assets, the object of the management mandate, are used for different purposes - offices, shops and residential - and include approximately 13,000 property units. More »

Prelios, Highstreet portfolio: three department stores rented to Karstadt sold to ECE (DE) Prelios announces that Karstadt property owner Highstreet has closed a sales agreement for three department stores with ECE Projektmanagement GmbH & Co. KG, a German real estate company. All the shopping centers are 100% let to Karstadt Warenhaus GmbH, one of the two largest German department store chain. More »

Prelios: Two Karstadt stores sold to a jv formed by Centrum and Signa (DE/AT) Oberpollinger department store Munich. The properties were sold... More »

Prelios: Paolo Bottelli appointed new CEO (IT) The changes in the roles are in line with the direction taken thus far by the company and are aimed at best supporting the achievement of... More »

Pirelli RE moves its headquarters to Blankenese (DE) Part of the new Blankenese Bahnhofsplatz project. “After we developed... More »

Prelios will be the new name of Pirelli RE (IT) Pirelli & C. Real Estate’s Board of Directors also co-opted and appointed Enrico Parazzini to act as Managing Director Finance following... More »

Pirelli RE sells Große Straße retail premises in Osnabrück to Union Investment for €33.4 million (DE) The project profits from high footfall in Große Straße. “With... More »

Cities see green and brown at MIPIM (FR) Among the cities attending the world’s leading property market is Stockholm, which the European Commission has chosen as European Green Capital 2010. More »

Pirelli Real Estate and B+L sell business premises in Hamburg to Union Investment for €60.05 mln. (DE) “With the “Mercado” shopping center and the adjacent business premises, we have now acquired two excellent properties for our Germany focused... More »

Pirelli RE sells business premises in Hamburg Blankenese (DE) “The multi-purpose mixture of tenants from the retail, office, medical and residential sectors, combined with the Hamburg Blankenese location,... More »

Pirelli and Morgan Stanley sell Mercado in Hamburg to Union Investment for €164 mln. (DE) With a sale price of €164 million this represents the largest single deal in Germany this year. More »

On the Road with REP by Lisa Kolkert Lisa Kolkert, REP EPIC (European Property Italian Conference)... More »

Consortium announces completion of acquisition of 49% stake in Highstreet (IT/DE) The enterprise value is circa €4.56 billion, with underlying debt of circa €3.5 billion secured by the properties. More »

Pirelli RE's property sales in H1 2008 amount to €530 mln. (IT) The gross margin comes to €109 million (21%), of which €44 million pertains to Pirelli RE. Property sales consist of €231 million sold... More »

Pirelli RE property in Berlin declared for UNESCO World Heritage Site (DE/IT) The estates built in the 1920s (Garden city Falkenberg, Schillerpark estate, Carl Legien estate, Siemensstadt estate, Hufeisensiedlung Britz... More »

Pirelli approves launch of first European Opportunistic Contribution Fund (IT) The creation of the first European opportunistic contribution fund, focusing on countries in which Pirelli RE is already present, will allow... More »

Pirelli Pekao Real Estate initiates realization of Ostrobramska 75 in Warsaw (PL/IT) The projected complex at 75 Ostrobramska Street is located among commercial and service premises. The complex will cover buildings of various height – 5-9 up to 14 floors. More »

RREEF, GREF, Borletti and Pirelli RE consortium acquires 49% stake in Highstreet (DE/IT) The Enterprise value is circa €4,560 million, with a circa €3.5 billion of underlying debt secured by the properties. More »

Pirelli RE awarded contract to manage €2.6bn portfolio of non-performing loans (IT) Pirelli RE is coinvesting in the portfolio with a 16.5% interest through its joint venture with Calyon SA (67%- Pirelli RE 33%) while the remaining 50% is purchased by GE. More »

Pirelli RE creates partnership with HSH Nordbank for asset management services in Germany (DE/IT) Asset management involves identifying investment opportunities in the various real estate products, constructing new buildings as part of... More »