European investors – Page 271
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MagazineMost wanted
Munich and Hamburg have been hailed as the top European investment destinations by ULI and PwC’s Emerging Trends report. Paul Benjamin explores the outlook for both markets and German real estate as a whole
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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.
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Scandinavia real estate looks attractive, say pension funds
Scandinavia – Scandinavian funds still consider non-listed real estate an attractive investment opportunity in the medium to long-term, according to a survey by Lymos BV Real Estate Capital Advisors.
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Axa taps European housing opportunities
EUROPE – AXA Investment Managers’ German branch has launched a residential fund for institutional investors following their increased appetite for the sector.
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UK logistics traffic to hit a go-slow
UK – Demand for UK logistics could reach a record low this year and will remain subdued until at least 2010, according to Jones Lang LaSalle (JLL).
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Restructuring could save German funds - DTZ
EUROPE – German open-ended funds (GOEFs) are expected to suffer further liquidity issues in 2009 and should consider restructuring to protect themselves in the future, according to DTZ’s latest European quarterly report.
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Grosvenor seek urgent retail debt solution
UK – Grosvenor, the privately-owned property group, has confirmed it is in debt talks to prevent a breach in the banking contract of its retail fund.
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LandSecs becomes next to seek rights issue
UK – Land Securities today announced it is holding a rights issue to raise around £755.7m (€854.9m) from shareholders, making this the latest in a series of property giants proposing fundraising to strengthen their balance sheets.
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Hypo Real financing keeps climbing
GERMANY – Hypo Real Estate was granted an additional €10bn by the German Financial Markets Stabilisation Fund (SoFFin) last week, bringing the total bailout to €52bn.
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IPD predicts further gloom for Ireland
IRELAND – Ireland’s real estate industry has tough times ahead and is unlikely to recover any time soon, according to analysts at the SCS/IPD Annual Results presentation in Dublin this week.
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ProLogis sells remainder of PEPF II
EUROPE – ProLogis European Properties (PEPR) has decided to sell its one-third stake in the ProLogis European Properties Fund (PEPF) II to further de-leverage the firm.
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British Land halves Meadowhall stake ahead of rights issue
UK – The British Land Company has exchanged contracts with London & Stamford Property to sell a 50% interest in the freehold of the Meadowhall Shopping Centre near Sheffield, but it is also raising additional funds through a £740m (€819.49m) rights issue.
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Demands spark student accommodation drive
UK – Coral Portfolio and Strutt & Parker Real Estate Financial Services (SPREFS) are launching a student accommodation fund in response to strong market demand.
