All articles by Jan Wagner – Page 3
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News
Annington bank consortium securitises €5.4bn in loans
Germany – Banks that have financed German property acquisitions by UK private equity firm Terra Firma are to sell €5.4bn worth of bonds backed by those properties in Germany’s biggest commercial mortgage backed securities transactio...
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Oppenheim plans E1bn investment in new properties
GERMANY – Oppenheim Immobilien-KAG, Germany’s leading provider of property funds for institutional investors, plans to invest €1bn in new properties in 2006, 30-40% of which will go to retail stores, according to OIK chief executive...
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Germany plans huge real estate sell-off
REAL ESTATE – The German government plans to sell €500m worth of its own real estate annually as part of a rationalisation programme, the head of the federal agency in charge of the properties says. The government’s properties in...
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Deka sells three properties for €690m
REAL ESTATE – DekaBank, a major German provider of open-ended property funds, has sold three commercial properties from its core German fund for €690m as part of an ongoing restructuring of the fund. DekaBank began the restructuring of...
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€50bn German REITs market seen
REAL ESTATE – German Real Estate Investment Trusts (REITs) will bring huge benefits for Frankfurt’s financial centre – including creating a new €50bn property market that would put it on par with London and ahead of Paris, a n...
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Germany’s BVV steps up international real estate
REAL ESTATE – BVV, a €17.7bn pension fund for Germany’s financial services industry, has stepped up its investments in international property funds to compensate for continued weakness in the domestic real estate market. In its a...
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News
Fortress to float German real estate
REAL ESTATE – US private equity firm Fortress plans to float part of its German real estate holdings on stock exchanges by the start of 2007, a spokesman for the firm has confirmed. Since entering the German market in 2004, Fortress has acqu...
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Investors pull €1.3bn from DB Real Estate
REAL ESTATE – DB Real Estate’s embattled core German fund has been hit with another €1.36bn in investor outflows since it was re-activated on March 3, according to the new statistics from German fund industry association BVI. The...
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Cerebus Deutschland ‘real estate head quits’
REAL ESTATE – The German arm of US private equity firm Cerebus has reportedly lost the head of its real estate business as well as five other employees from the unit. According to Germany’s Börsen-Zeitung, Ralf Winter, head of rea...
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Germany’s €17.7bn BVV eyes real estate
REAL ESTATE - BVV, a €17.7bn pension fund serving Germany’s financial services industry, plans to raise its exposure to real estate to at most 8% over the long-term and is mulling an initial investment in private equity. As reported b...
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News
German REITs edge closer with new draft - paper
REAL ESTATE – The German finance ministry is apparently near completing a draft law that would legalise Real Estate Investment Trust (REITs) in Germany from the beginning of 2007. Germany’s Börsen-Zeitung reported that the ministr...
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Bank association sees German REITs next year
REAL ESTATE - The Association of Foreign Banks in Germany (VAD) reckons that despite more recent anti-private equity rhetoric from the governing Social Democrats, Berlin will legalise Real Estate Investment Trusts from 2007. About a year ago, Fran...
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News
DekaBank ahead on fund revamp
REAL ESTATE – Germany’s DekaBank says it expects to complete the restructuring of its embattled German property fund well ahead of a previously given date of 2009. Over the last two years, the fund has suffered more than €2bn in ...
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News
Allianz’s DEGI in €110m Luxembourg buy
REAL ESTATE – Germany’s DEGI said its €1.3bn international property fund has made its first acquisition in Luxembourg city, investing €110m in two new office buildings in the Kirchberg financial district. DEGI, a unit of Al...
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Europe commercial investment up 40% - CBRE
REAL ESTATE – Direct investment in Europe’s commercial property market rose 40% in 2005 to hit a new record of €141.7bn, a new study by US real estate broker CB Richard Ellis shows. Of the €141.7bn invested directly in comm...
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Germany’s DEGI sees commercial recovery
REAL ESTATE – A new study by German property fund provider DEGI has provided further evidence of a recovery in the domestic commercial real estate market yet also questions the sustainability of that recovery. According to the study, demand ...
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News
Deutsche write-down lower than estimated
REAL ESTATE – DB Real Estate, the property fund arm of Deutsche Bank, has re-opened its core German real estate fund following a write-down of its holdings which, at €147m, was lower than previously estimated. Following the surprise cl...
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News
German association aims to restore confidence
REAL ESTATE – Fund industry association BVI has unveiled a set of sweeping measures aimed at shoring up German open-ended property funds, which have been battered by panic-selling and unprecedented fund closures. Chief among the measures is ...
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News
High vacancies persist in European office buildings
Seven major European cities will continue to face high vacancy rates in office buildings over the next two years despite a more robust European market, a new study claims. The study, compiled by German real estate fund provider Oppenheim Immobilie...
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News
PKA’s Gunnergaard to set up consulting firm
DENMARK – Troels Gunnergaard, the head of property investment at Pensionskassernes Administration (PKA), has resigned to establish his own consulting firm, Gunnergaard Consult. IPE understands that Gunnergaard’s new consultancy will be...
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