Latest reports – Page 2859
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PropertyEU Archive
Banks favour development financing in Poland
Banks prefer to finance new development projects rather than existing assets in Poland, according to a study carried out by accountancy firm KPMG. In Austria and Slovakia, lenders are equally open to financing either development or existing assets, the findings show.
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PropertyEU Archive
FastPartner snaps up 5 Stockholm malls from RBS' Centeni
Swedish property firm FastPartner has acquired a portfolio of five shopping centres in Stockholm from the Royal Bank of Scotland's Centeni, the former joint venture company established by UK private investment firm Boutlbee and collapsed investment bank Lehman Brothers. Financial details were not disclosed.
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PropertyEU Archive
AXA Real Estate's Kiran Patel quits
Kiran Patel said on Tuesday he was resigning as global head of business development, distribution, research and strategy at AXA Real Estate to pursue new opportunities. Patel will leave the company at end-December after 11 years with the French property fund management group.
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PropertyEU Archive
ECE opens EUR 200m BahnhofCity mall in Vienna
German retail specialist ECE Projektmanagement has announced that its BahnhofCity Vienna West shopping centre is opening its doors on Wednesday after a construction period of three-and-a-half years.
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PropertyEU Archive
Highstreet JV sells Karstadt store for EUR 40m
The Highstreet investor consortium has completed the sale of a Karstadt department store in Bielefeld, northern Germany to local investment firm Aachener Grundvermögen KAG. The price of EUR 40 mln generates capital gains of EUR 3 mln.
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PropertyEU Archive
HB Reavis seeds first fund with EUR 165m portfolio
Slovakian developer HB Reavis said on Tuesday that its Luxembourg-based investment management arm has bought a portfolio of five commercial assets for a total of EUR 165 mln, reflecting a blended initial yield of 7.6%. The assets were developed by HB Reavis.
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PropertyEU Archive
Foreign investors own majority of City of London offices
Foreign investors now own 52% of the Square Mile’s office stock, up from 8% in 1980 and continuing an upward trend seen since the Big Bang, according to the 'Who Owns the City' report published on Tuesday by Development Securities.
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PropertyEU Archive
Opco-propcos face 'painful' refinancing challenge, report warns
Stakeholders in opco-propco structures will be hard put to meet the looming refinancing challenge, according to a report published by financial adviser Bishopsfield Capital Partners. The majority of opco-propco real estate structures - whereby a property company is split between an operating division (the opco) and a unit for its ...
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News
CMBS, REIT debt can improve real estate investors' risk profile – Invesco
Listed property debt can enhance income and reduce volatility, asset manager says.
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News
St Bride's Managers calls for real estate shake-up at UK pension funds
Founder criticises consultant-led obsession with property benchmarks.
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News
Investors, occupiers 'out of sync' on UK logistics, says IPD
Investors more 'in sync' with occupiers in appetite for prime versus secondary assets.
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News
Russia, Nordics strengthen Finnish property despite euro-zone crisis
Fund managers closes property deals in Finland worth €40m in third quarter.
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News
Pension-fund manager Alberta IM acquires Chilean utility
AIMCo acquires 50% of electricity distribution company half-owned by OTPP.
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PropertyEU Archive
HDG Mansur appoints new chief financial officer
HDG Mansur has appointed Thomas Kmiecik as executive vice president and chief financial officer. Until recently Kmiecik was senior treasury officer at Forest City Enterprises, a $12 bn (EUR 9 bn) NYSE-listed real estate development company. He also held past positions as senior vice president and treasurer of First Union ...
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PropertyEU Archive
AXA rolls out 'green lease' concept in Germany
AXA Real Estate Investment Managers has introduced green leases for all its commercial lettings in Germany. The lease format is already being implemented in France, where about 20 new contracts have been signed.
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PropertyEU Archive
CSC secures EUR 437m revolving facility
London-listed investor Capital Shopping Centres (CSC) has secured a £375 mln (EUR 437 mln) revolving credit facility which will be used to provide liquidity for the group.
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PropertyEU Archive
Pramerica confirms Madrid deal with Invesco
Pramerica Real Estate Investors has confirmed the sale of the Titán 4 office building in Madrid to Invesco Real Estate, as reported by PropertyEU last week. Financial details were not disclosed but the transaction price is understood to be around EUR 40 mln, reflecting a net yield of 6.5%.
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PropertyEU Archive
CA Immo takes 100% control of Munich's Skygarden
Vienna-listed real estate investor CA Immo has bought out its partner, developer OFB Projektentwicklung, in their 50:50 joint venture in the Skygarden office scheme in Munich. CA Immo is now the sole owner of the recently completed property.
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PropertyEU Archive
Sarah Leroy named legal head at AXA RE
Sarah Leroy has been appointed to head the global legal department at AXA Real Estate Investment Managers. She will head a 14-strong team dealing with all the legal issues relating to the management of real estate assets and commercial real estate loans.
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PropertyEU Archive
Morgan Stanley sells EUR 2.7b German asset manager
Morgan Stanley is selling German asset manager Argoneo Real Estate to EPM, a subsidiary of Bilfinger Berger Facility Services, with effect from January, EPM confirmed on Monday. Argoneo manages commercial property assets throughout Europe valued at some EUR 2.7 bn.
