European Investors News – Page 251
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ING REIM to cut UK jobs
UK - ING Real Estate Investment Management (ING REIM) has announced up to one-fifth of its staff in the United Kingdom face redundancy following a costs review by the firm.
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Investors see shine fade on German property
GERMANY- German investor sentiment in real estate has plummeted and is paralysing the industry, consultancy firm King Sturge has claimed, as economic data continues to fall.
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Pension funds scramble to fly UK airport bids
CANADA/UK - Ontario Teachers’ Pension Fund is working with 3i’s infrastructure fund on a potential bid to buy Gatwick Airport in a deal which could be worth more than £1.5bn (€1.8bn), but other pension funds are thought to be considering deals too.
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Less call for leverage predicted
GLOBAL - Leverage is likely to become less important to property investors given the financial turmoil, according to Ian Gleeson, chief investment officer of global multi-manager investment at CB Richard Ellis Investors.
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Invista reveals pressures as dividends halted
UK/EUROPE - Invista European Real Estate Trust SICAF is suspending dividend payments in a bid to conserve cash and to deleverage the company.
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UK REITs could turn market liquidity - Deloitte
UK – UK residential Real Estate Investment Trusts (REITs) will be attractive propositions for institutional investors and could help bring liquidity into the market, according to experts attending an IPD pre-conference meeting in Brighton yesterday.
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UK Reits to struggle but better Europe - managers
UK – UK REITs are entering unprecedented waters and are unlikely to achieve strong investor interest for at least a couple of years, according to Brend Stahli from Merrill Lynch.
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T.Rowe Price turns attention to globe real estate
US/GLOBAL – US-based asset manager T. Rowe Price is launching a global real Estate strategy in a bid to expand its global investment opportunities.
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Empty rates reform are 'empty promise'
UK - UK government proposals to temporarily scrap rate for empty properties with an estimated value of less than £250,000 (€299,110) are nothing more than empty spin and do little to help the market, according to property experts.
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Real estate derivatives gain fresh impetus
UK - Derivatives offer real estate investors good opportunities to diversify their portfolio, according to property experts at the ING Real Estate Annual Seminar.
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Property sector finally unveiled for UK unlisted market
UK – The Investment Management Association (IMA), trade body to the £3.4trn (€3.99trn) UK fund management industry, and its Performance Category Review Committee (PCRC) have created a new property sector.
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Grosvenor reviews its business priorities
EUROPE- Grosvenor is planning to concentrate on developing its fund management business in continental Europe.
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Negative rental growth now global
GLOBAL – Rental growth has turned negative on a global scale and the downturn in emerging markets is accelerating, the Royal Institute of Chartered Surveyors (RICS) finds in its latest quarterly global report.
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UK sets new record for fall in capital values
UK – UK commercial property capital values fell by record levels last month, according to Investment Property Databank (IPD).
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UK will start to recover in 2010 – Schroders
UK – The UK commercial real estate market will not stabilise until the latter part of 2009 but should begin to recover in 2010 according to Schroder Property.
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PME looks for global opportunities
NETHERLANDS – Pensioenfonds van de Metalektro (PME) is diversifying its real estate exposure by investing opportunistically on a global basis.
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Europe to produce ‘acceptable’ returns in the medium-term
EUROPE – Investors can generate “acceptable or attractive” returns from most of the European markets over the medium-term, according to a report by Invesco Real Estate.
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Orion ready for European bargains
Europe – Orion Capital Managers has raised €900m of capital for its latest opportunistic property fund which will aim to buy bargain real estate across Europe.
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Prologis loses chief and halts new developments
GLOBAL – ProLogis, the world’s largest logistics developer, has announced the resignation of chief executive officer Jeffrey Schwartz at a time when the company is halting further developments.
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German funds hit hardest by institutional outflows
GERMANY – Recent redemptions from German open-ended funds (GOEFs) were “mainly driven by institutional investors rather than retail investors,” according to a senior analyst for CB Richard Ellis.
