European Investors News – Page 247
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Industrial potential shifts to South America
EUROPE – Industrial commercial property markets in Central and Eastern Europe (CEE) and South America were the best performing worldwide in 2008 and are likely to continue doing well, according to research from Cushman & Wakefield.
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INREV uncovers concerns over secondary market
EUROPE – Approximately €1.1bn of secondary trades were executed in the past 12 months by 18 INREV member funds, with a further €230m of trades in the pipeline, but the prospect of an efficient secondary market for European non-listed real estate funds remains uncertain, INREV members discovered at this week’s ...
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Campaign pushes for US-style infra tax scheme
UK – The British Property Federation (BPF) is backing developers’ calls for UK trials of a scheme for infrastructure funding, modelled on a strategy in the United States which borrows against future tax revenue.
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Downturn to focus buyers on Western Europe
EUROPE – Jones Lang LaSalle’s latest report on direct commercial real estate investment in Europe predicts investors will primarily focus on core Western markets in 2009.
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Natixis closes €420m fund
US – Natixis Capital Partners (NCP), the international property investment firm, has closed its third private equity real estate fund with €420m raised from European institutional investors.
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Dawnay Day property bought by institutional investors
UK – AREA Property Partners and F&C REIT Asset Management have bought struggling investment firm Dawnay Day’s UK property portfolio for approximately £600m (€647m).
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IVG saw profits plunge on market drop
GERMANY – IVG Immobilien AG earlier this week announced it suffered a €471m loss in 2008 as a result of the severe fall in market values, though officials argue the firm remains robust.
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Savills slips into a loss
UK – UK property firm Savills has announced a £7.7m (€8.3m) loss for 2008 and is adopting a “cautious outlook” for 2009 as it expects challenging times ahead.
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Recession pressures force HSH to downsize
GERMANY – HSH Nordbank is to dismantle its real estate business in the United States and later Western Europe as part of its plans to downsize and cope with the tough economic climate.
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Swedish pension funds buys from RREEF
SWEDEN – AMF, the SEK289bn (€24.7bn) Swedish pension fund, has bought an office building in Stockholm from RREEF, the alternative investment management business of Deutsche Bank’s Asset Management.
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Knight Frank warms to residential new builds
UK – London’s prime new build residential market is becoming increasingly attractive to investors and developers, and could be beginning to level out, according to Knight Frank’s 2009 London residential development review.
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Student accommodation reopens under revised terms
UK – Brandeaux has reopened its student accommodation fund this week by issuing a new share class and amending redemptions rules.
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Sweden sees first signs of real estate downturn
SWEDEN – Swedish commercial real estate returns fell to -3.3% in 2008, according to latest figures from the SFI/IPD Index published by the Investment Property Databank (IPD).
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Lancashire lays groundwork for infrastructure investing
UK - The Lancashire County Council Pension Fund is considering investing around £80m (€89.55m) in infrastructure as part of a new strategy to diversify its investments.
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Pension funds to raise real estate holdings to over 10%
GERMANY – German retirement vehicles are among the institutional investors planning the largest increase in their real estate holdings over the next two years, according to research conducted by Feri Advisors.
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IPD unveils sustainability benchmarking
GLOBAL – The Investment Property Databank (IPD) today launched an environmental benchmarking service for commercial real estate occupiers.
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Real estate helps limit Ilmarinen losses
FINLAND – Real estate investments helped limit losses by the Finnish pension fund Ilmarinen as it reported an overall loss of €4.34bn in 2008.
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Union to tap German GEOFs repricing
GERMANY – Union Investment Real Estate AG has welcomed proposals for regulation changes regarding German open-ended funds (GEOFs) and aims to take advantage of repricing to invest in traditionally core markets.
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Axa keeps on growing real estate
SCANDINAVIA – AXA Real Estate Investment Management (AXA REIM) has increased its retail investments and expanded its team in the Nordic and Baltic regions.
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Banks take over Spain’s real estate giant
SPAIN – Metrovacesa SA, Spain’s largest property firm, has handed over majority control of the company to six of its creditor banks in exchange for debt.
