Latest reports – Page 3152
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PropertyEU Archive
HSBC REIM seeks new investors for Elysées Pierre
HSBC Real Estate Investment Management is offering investors 100,000 new units in its Elysées Pierre SCPI investment vehicle at a price of EUR 550 each. The company is hoping to raise up to EUR 55 mln of new capital through the offering, increasing the market capitalisation of Elysées Pierre to ...
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PropertyEU Archive
DTZ appoints Menno Maas as head of CEMEA
Global real estate adviser DTZ has announced the appointment of Menno Maas to the role of CEO for Continental Europe, Middle East and Africa (CEMEA). Maas, formerly boss of ING Real Estate Development, will be responsible for DTZ's operations across 24 CEMEA markets.
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PropertyEU Archive
Shell selects JLL for EMEA mandate
Multinational petroleum firm Shell has appointed Jones Lang LaSalle's EMEA Corporate Solutions team as its primary provider of real estate support services across the EMEA region.
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PropertyEU Archive
London & Stamford buys UK distribution portfolio for EUR 242m
AIM-listed real estate investor London & Stamford Property has acquired the Radial portfolio of prime distribution warehouses across the UK for £208.5 mln (EUR 242 mln), exluding costs. The vendor is Warner Estate Joint Ventures Limited and Uberior Ventures Limited.
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PropertyEU Archive
Helical Bar buys UK portfolio from ING REIM
Helical Bar has acquired a portfolio of nine assets comprising 129 industrial and offices units for approximately £50 mln (EUR 58.14 mln) from ING Real Estate Investment Management.
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PropertyEU Archive
Ærium secures EUR 186m refinancing for Turkish retail portfolio
Ærium, a European real estate fund manager, has announced the refinancing of its Turkish retail portfolio, Bainbridge Capital Retail Properties through a $240 mln (EUR 186 mln) debt facility with Akbank. Describing the transaction as the first sizeable refinancing in Turkey since the onslaught of the global economic crisis, Ærium ...
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PropertyEU Archive
Greece worst performer in April in GPR index
Greece was the worst performer in the GPR index of listed property stocks in April, with a negative performance of -28.1%. All in all, European propery stocks shed 2.3% over the month.
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PropertyEU Archive
Metro in talks with several investors to sell Kaufhof unit
German retailer Metro Group has confirmed that it is 'in talks' over a potential sale of its department store chain Galeria Kaufhof, but added that negotiations with investors are still at an early stage. 'We are not in exclusivity, the process is not that far yet,' a Metro spokesperson told ...
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PropertyEU Archive
Altarea, ABP and Predica buy Cap 3000 for EUR 450m
A joint venture of French retail specialist Altarea, Dutch pension fund ABP and Crédit Agricole Assurances' Predica unit has acquired the Cap 3000 shopping centre in Saint-Laurent du Var, near Nice from Galeries LaFayette. The transaction price of EUR 450 mln reflects a yield of 4.65%.
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PropertyEU Archive
SEB closes ImmoInvest fund for redemptions
SEB has temporarily suspended the redemption of units in its SEB ImmoInvest fund. The move follows a significant rise in unit redemptions across all customer segments.
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PropertyEU Archive
Pirelli outlines plans for real estate spin-off
Pirelli & Co outlined plans this week to spin off its real estate arm amid improving results for both its tyre and real estate businesses. In a statement, the Milan-based group said that it will assign its 58% stake in Pirelli & C Real Estate to its own shareholders following ...
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PropertyEU Archive
IVG expands institutional fund management team
Germany's IVG Immobilien has appointed Bernhard Berg (50) as management chairman and co-head of IVG Institutional Funds in a key step towards expansion of its institutional fund business. He will join Peter Le Loux from 1 August.
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PropertyEU Archive
DTZ sees global invested stock rising 5% in 2010
The worst of the property slump is over, according to DTZ’s Money into Property report. The adviser forecasts that global invested stock will grow by 5% in 2010, with the UK seeing an even higher increase of 8% as capital values continue their recovery.
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PropertyEU Archive
Redevco snaps up Dutch retail portfolio
Redevco Netherlands has acquired a portfolio of five retail units from Metroprop for EUR 17.7 mln. The units are located in A1 locations in Alkmaar, Venlo and Zwolle. The stores are leased on a long-term basis to Douglas, Hennes & Mauritz, Mexx, The Phone House and Van Haren.
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PropertyEU Archive
UBS acquires Living Office in Dusseldorf for EUR 52m
Swiss fund manager UBS Real Estate has acquired the Living Office building in Dusseldorf for its open-ended real estate fund UBS (D) Euroinvest Immobilien. The seller was CF Living Office Immobilien, a real estate holding of the American food and financial services group Cargill Inc. The transaction price amounted to ...
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PropertyEU Archive
CBRE signals increased lender confidence in Q1
Financing conditions eased in Q1, according to CB Richard Ellis in its latest Capital Markets Report. The report, which focuses on banks’ propensity to lend to real estate across Europe, has signalled a modest increase in maximum loan-to-value ratios (LTVs), with all key European markets now at or above 65%, ...
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News
Outperformance from asset quality not lease length – L&G Property
UK – Asset quality – not lease length – should be the primary indicator of value for UK property, according to Robin Martin, head of performance analysis and research at Legal & General Property.
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News
Cooper joins Townsend to attack European and Asian markets
GLOBAL – Former ING Real Estate Select CEO Nick Cooper has joined The Townsend Group as part of a push to develop the group’s multi-manager business in Europe and Asia.
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News
UK lending improves but still faces uncertainty
UK – Bank of England figures show that real estate lending in the UK recovered slightly in the first quarter of 2009, but Jones Lang LaSalle (JLL) has warned that secondary assets remain a significant problem.
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News
CPPIB and Kimco join forces to hunt US retail
AMERICAS – The Canada Pension Plan Investment Board (CPPIB) has acquired a $166.5m (€125.8m) interest in four US shopping centers through a joint venture with Kimco Realty Corporation.
