All Europe articles – Page 393
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Higher yields allude to lower income growth - CBRE
EUROPE – Yields across all commercial sectors in Europe, Middle East and Africa markets have increased in the fourth quarter of 2008 and may reflect a poor outlook for rents, according to latest data from the CB Richard Ellis EU-15 yield indices.
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Pressured Hypo wins time extension
GERMANY- Hypo Real Estate Group has received an extension on the €30bn framework guarantee granted by the German Financial Markets Stabilisation Fund (SoFFin) amid rumours that the German Government is considering taking a stake in the company.
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ING enters Polish retail space
Czech Republic – ING Real Estate Investment Management has acquired a €125m shopping centre in the Czech Republic and added it to the ING Property Fund Central Europe.
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Real estate loses a fifth for UK pensions
UK – Property generated a loss of 21% for the WM UK Pension Fund and Charity Fund universe in 2008, according to preliminary results released by State Street Investment Analytics.
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Henderson weds Croom for retail property (amended)
EUROPE – Henderson Global Investors has appointed Katherine Groom as portfolio manager for its pan-European retail property fund, Herald.
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More than €50bn waiting to be deployed in Europe
EUROPE – More than €50bn of equity is targeting European commercial real estate this year, according to the latest European capital markets research carried out by Jones Lang LaSalle (JLL).
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Land Securities sells Trillium
UK – Land Securities Group, the UK’s largest real estate investment trust (REIT), announced today it has agreed the sale of Trillium to Telereal, a property investment company, for £750m (€832m).
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Illinois State Universities to capitalise on 2009 opportunities
UNITED STATES – State Universities Retirement System of Illinois has entered into the opportunistic real estate space by making a $40m (€29.4m) commitment to the Dune Real Estate Fund II.
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Barclay made associate at Nordic Retail Fund
EUROPE – Protego Real Estate Investors has appointed Calum Barclay as an associate within its Nordic Retail Fund, it was announced this week.
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Goodman and L&G raise equity for ABPP
GLOBAL – Australia’s Goodman Group and the UK’s Legal & General have raised £350m (€383m) of equity for real estate fund Arlington Business Park Partnership (ABPP).
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EDHEC launches French index
FRANCE – French business school EDHEC has launched a monthly index for commercial property in France with the help of the Institut de l'Epargne Immobilière et Foncière (IEIF), an independent French real estate research institute.
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Hypo Real Estate faces claims for damages
GLOBAL – Pension funds are making the first claims for damages against Hypo Real Estate (HRE) for failing to reveal its financial difficulties sooner.
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UniCredit sells Italian bank assets to new fund
ITALY – Italian bank UniCredit has sold 72 commercial properties worth approximately €800m to a real estate investment fund run by Italian fund manager Fondi Immobiliari Italian (Fimit).
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Eurex sets the date for property futures
EUROPE – Eurex, the derivatives exchange, is to launch Europe’s first property futures in February 2009, despite the economic turmoil.
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CalSTRS joint venture gains new financing
US – First Industrial, the North American Real Estate Investment Trust (REIT), has arranged a new $110m (€78.6m) debt facility for its ventures with the California State Teachers’ Retirement System (CalSTRS).
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ProLogis steps up to support European Properties
US – ProLogis, the international logistics developer, has stepped in to help ProLogis European Properties (PEPR) by buying a 20% interest in the ProLogis European Properties Fund II (PEPF II).
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DTZ goes for share-raising or bust
GLOBAL – DTZ is planning to raise up to £55m (€59.2m) of equity through new shares in a bid to help the company survive the economic downturn and avoid going into administration.
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Pension funds could snap up UK airports
UK – Pension funds could be in the running to buy Gatwick, Stansted and Edinburgh airports as the Competition Commission has announced the British Airport Authority (BAA) must sell to generate greater competition and improve its service standards across UK airports.
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CPPIB buys into Turkish retail
CANADA - The Canada Pension Plan Investment Board (CPPIB) has invested €250m of equity in a Turkish retail fund.
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Real estate consultant folds Spanish offices
SPAIN – King Sturge España, the Spanish subsidiary of British property consultants, King Sturge, has filed for administration this week.
