Korian Group rose to a three-month high in Paris trading after the French retirement-home operator agreed to sell 19 properties to Cofinimmo, Belgium's biggest real-estate investment fund.
Korian added 1 euro, or 4 percent, to 26 euros, the highest since March 5. The stock, the third-biggest winner on France's SBF-250 Index today, has dropped 12 percent this year, giving the company a market value of 720 million euros ($1.1 billion).
The properties, including five nursing homes under construction, are valued at 144.4 million euros with a yield of 6.3 percent including commissions and fees, Paris-based Korian said today in a statement. The sale, which will probably be completed by September, is ``in line with the plan to outsource premises,'' the company said.
Tuesday, May 27, 2008
Tuesday, May 20, 2008
ING Real Estate acquires two office buildings in France for 70 million euros
ING Real Estate, part of the ING Group NV, said on Tuesday that it recently acquired two office properties in France for about 70 million euros on behalf of the ING Real Estate Office Fund.
The offices include a building covering 6,873 square metres of office space in the city centre of Bordeaux, and a building with 8,028 square metres of office space in the Forum Seine area of Issy-les-Moulineaux, south west of Paris.
ING (nyse: IND - news - people ) Real Estate also acquired a new logistics centre covering 23,819 square metres located in Canly, Oise, north of Paris.
The offices include a building covering 6,873 square metres of office space in the city centre of Bordeaux, and a building with 8,028 square metres of office space in the Forum Seine area of Issy-les-Moulineaux, south west of Paris.
ING (nyse: IND - news - people ) Real Estate also acquired a new logistics centre covering 23,819 square metres located in Canly, Oise, north of Paris.
Saturday, May 10, 2008
Property in France: Nice gets back on track
After three years of disruption, the new tram system - which carries 60,000 passengers a day for a flat fare of €1 - has given downtown Nice an overhaul and opened up northern areas of the city that were previously out on a limb.
The proliferation of flights from the UK, including recently launched routes from London City Airport and numerous low-cost options from regional airports, have also helped to make Nice, the most visited city in France outside of Paris, more accessible than ever.
The proliferation of flights from the UK, including recently launched routes from London City Airport and numerous low-cost options from regional airports, have also helped to make Nice, the most visited city in France outside of Paris, more accessible than ever.
Saturday, May 3, 2008
Eurostar to bring investors to France
Eurostar's new high-speed rail link to France could boost property investment in the country, according to experts.
NuBricks.com said the new service between London's St Pancras station to Paris has led to a "substantial" increase in passenger numbers and revenues.
As well as allowing Eurostar to compete more effectively with airlines, the rail link has also opened up markets such as Lille due to the reduction in journey times.
NuBricks.com said the new service between London's St Pancras station to Paris has led to a "substantial" increase in passenger numbers and revenues.
As well as allowing Eurostar to compete more effectively with airlines, the rail link has also opened up markets such as Lille due to the reduction in journey times.
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