European Investors News – Page 251
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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.
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Land Securities abandons demerger plans
UK – Land Securities announced yesterday in its half-yearly annual results that “adverse market conditions” have forced the firm to abandon its demerger plans in order to protect shareholders’ interests.
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LaSalle launches UK opportunity fund
UK – LaSalle Investment Management is raising a £400m (€487m) opportunity fund to take advantage of declining property values and potential distress in the UK real estate market.
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More flexibility or Spanish REITs will flounder – Testa
SPAIN – The Spanish government’s drafted legislation for real estate investment trusts (REITs) must be made more flexible in order to encourage the sector to develop, delegates heard at the latest Urban Land Institute (ULI) conference.
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Sustainable leases get the green light
UK – The first clear framework to help landlords and occupiers increase the environmental performance of existing buildings has been published, claims the UK’s Better Building Partnership (BBP).
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Crisis of confidence for UK property
UK – Confidence has collapsed across the UK real estate sector according to Smith & Williamson’s latest annual survey.
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Opportunistic funds continue to attract capital – Clerestory
GLOBAL – Capital continues to be raised globally for opportunistic real estate funds, albeit at a slower pace, despite the credit crunch and falling economic growth, according to research from Clerestory Capital Partners.
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Axa REIM shifts into distressed debt
EUROPE – Axa REIM, the real estate arm of Axa Investment Managers Group, is holding back from investing in European markets because it predicts property prices will drop even further and will concentrate on buying distressed debt.
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CEE real estate growth is kicked into the tall grass
EUROPE – Real estate markets in Central and Eastern European (CEE) countries will not escape the effects of the financial crisis over the next couple of years and are potentially risky choices for investors who are considering re-entering the markets, according to Nadja Savic, associate for CB Richard Ellis Investors ...
