All Europe articles – Page 410
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Valuations lack supporting evidence - Segro
EUROPE - Valuers are being urged by an increasingly desperate industry to make valuations despite a dearth of market evidence, according to Segro.
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UK rally 'will be short-lived'
UK - Property shares will rally by up to 20% between now and mid-year before halving in value over the subsequent 18 months as the economy slides into recession, according to a research note from Morgan Stanley, the investment bank.
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ABP to move back into listed
NETHERLANDS – ABP is to up its investment in listed property, just months after the €215bn Dutch pension scheme divested part of its listed portfolio in Europe and US.
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Segro deal to realise Berlin airport city
GERMANY - Berlin Airport Authority and Segro have agreed the development of a 38-hectare business and logistics park next to Berlin’s Schönefeld airport after the London-listed property investor acquired the land for €34m.
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French institutions to diversify real estate
FRANCE – As much as 60% of French institutional investors will diversify their real estate portfolios either geographically or into different investment strategies, the ratings firm MultiRatings has found.
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CalSTRS expands industrial JV to Europe
UNITED STATES - California State Teachers Retirement System CalSTRS) and First Industrial Realty Trust have moved their industrial joint venture program to Europe for the first time.
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'Mid-sized funds charge more' - INREV
GLOBAL - The larger the fund, the lower the management fee is the conclusion of an INREV survey of fees charged by 160 European non-listed real estate funds, except in funds with assets of €100—299m, as they levy the highest fees.
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NEPR quits Finland for Russia
NORDIC/RUSSIA - One of Finland’s key international investors indicated the market was approaching saturation last week as it sold off its remaining 39 hotel assets.
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PGGM extends US apartments
UNITED STATES - PGGM has decided to expand its investment in US residential property with Behringer Harvard by as much as an additional $200m (€136.3m).
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Equity build-up 'not evidence of bottomed-out market'
EUROPE - Industry analysts reaffirmed their forecasts for a mid-2008 return to fair value in the UK property market last week after GIC’s acquisition of shares in British Land triggered speculation the market had already started to bottom out.
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Morgan Stanley forms solar project fund
UNITED STATES - Morgan Stanley has put together a $200m (€135.9m) solar project fund to invest with Recurrent Energy and provide solar power to institutionally-owned real estate across the country.
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CBRE "confident" on Ireland, bar housing
IRELAND - Activity in the Irish residential market will stagnate in 2008 as economic growth drives up office, retail and industrial, suggests a market report published by CB Richard Ellis.
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US state scheme invests in student housing
UNITED STATES - An unnamed US state pension fund has set up a US$100m (€67.5m) account to invest in student and faculty accommodation at the University of California.
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Lombardy mall opens doors to German owner
ITALY - German property firm Union Investment has entered the Italian retail segment with the €74m acquisition of a recently completed shopping centre in Pavio, Lombardy.
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IVG doubles returns
GERMANY – German listed real estate company IVG said preliminary result for 2007 are more doubling its return on the previous year at €290m, despite the continuing sub-prime lending crisis.
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Danish pensions eye local infrastructure
DENMARK – DANISH pension funds say they would welcome to chance to invest in infrastructure projects which could be opened by the government for public-private partnerships (PPPs), ahead of a report from the Infrastructure Commission.
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ING gets keys to ABP property
NETHERLANDS – Dutch pension fund giant ABP has signed the biggest real estate deal The Netherlands to date, and is transferring the assets of its €1.6bn KFN non-listed real estate investment trust to ING Real Estate.
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PMT sells Paris office
FRANCE - Dutch metalworkers’ union Pensioenfonds Metaal en Techniek (PMT) has sold its 30% share of Le Balzac, a Paris office block, to Corio, the property firm 36.6% owned by the €215bn ABP.
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Aberdeen triples German property assets
GERMANY/UK – Aberdeen Property Investors Holdings has acquired German property investement group DEGI for a cash consideration of approximately €110m.
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Pension fund vehicle acquires Nokia facility
FINLAND - An investment vehicle set up for three Nordic pension funds to invest in Finnish real estate has confirmed its move outside the capital with the acquisition of a mini-business park in Tampere.
