Latest reports – Page 3170
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PropertyEU Archive
BayernLB finances Real I.S. office deal in Paris
BayernLB Bank said on Monday that it provided EUR 22 mln financing to German-based investor Real I.S. for the acquisition of a six-floor office building in Paris recently. Real I.S.'s Bayerische Grundvermogen III Sicav real estate investment fund purchased the 3,000 m[sup]2[/sup] property near the Arc de Triomphe from Unibail-Rodamco ...
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PropertyEU Archive
Chagala completes Apart Hotel in Uralsk, Kazakhstan
Bayan, a wholly owned subsidiary of London-listed real estate Chagala Group, has completed its Apart Hotel expansion project in the city of Uralsk, Kazakhstan.
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PropertyEU Archive
Warner Estate completes EUR 291m debt refinancing
UK real estate company Warner Estate Holdings said on Monday that it has completed the refinancing of bank facilities totalling EUR £261.3 mln (EUR 290.6 mln). Warner said that along with certain subsidiaries it has entered into new facilities with the Royal Bank of Scotland and Barclays, and extended and ...
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PropertyEU Archive
Commerz Real purchases Dutch logistics centre for EUR 28m
German fund manger Commerz Real has acquired De Rooy logistics facility in the Dutch city of Roosendaal for one of its institutional funds for about EUR 28 mln. The deal was transacted in the form of a sale-and-leaseback agreement with international shipping and distribution company De Rooy.
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PropertyEU Archive
European debt funding gap to reach EUR 115b: DTZ
The debt funding gap across Europe is expected to reach EUR 115 bn over the next two years, according to DTZ Research in its latest report. This gap varies across countries, but 56% of the European debt funding gap is estimated to be in only two countries, the UK and ...
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PropertyEU Archive
SEB acquires London West End property for EUR 128m
SEB Asset Management has acquired a fully-let nine-storey office and commercial building in London's West End from Invista Real Estate Investment Management for a total of EUR 128 mln.
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PropertyEU Archive
Banco Sabadell sells 378 buildings to Moor Park for EUR 403m
Spanish property lender Banco Sabadell said on Friday that its management board has approved a binding bid by UK investor Moor Park Capital Partners to acquire a portfolio of 378 office units across the country for a total investment volume of EUR 403 mln.
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PropertyEU Archive
Corio completes EUR 600m equity issue after mega deal with Multi
Corio announced the completion on Friday of a EUR 600 mln equity issue to help pay for its EUR 1.3 bn purchase of operating shopping centres and mall projects from Multi Corporation.
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PropertyEU Archive
UK retail investment set for positive returns: CBRE
The rebound in the UK retail investment market is expected to maintain momentum throughout the first half of 2010, according to the atest research from CB Richard Ellis (CBRE).
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PropertyEU Archive
Shopping centre development to bottom in 2011
The rate of development of new shopping centre space in Europe slowed considerably in 2009 and is unlikely to pick up before 2012 at the earliest, according to real estate adviser Cushman & Wakefield in its new European Shopping Centre Development report.
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PropertyEU Archive
RBS, Eurohypo, Calyon take 45% stake in Colonial
International banks Royal Bank of Scotland (RBS), Eurohypo and Calyon have taken a 45% stake in Spanish property company Colonial through the swap of debt bonds with new company shares.
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PropertyEU Archive
RICS expels Dutch member for breaches of code of conduct
The Royal Institute of Chartered Surveyors (RICS) has shown its teeth in Continental Europe by expelling a Dutch member after a disciplinary panel found he was in breach of the rules of conduct.
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PropertyEU Archive
Meyer Bergman in talks to buy Ilford shopping centre
European real estate investment fund Meyer Bergman is the frontrunner in a bid to acquire a community shopping centre in Ilford, UK, market sources close to the process told PropertyEU. The asset is being sold by the Mall Fund, which is managed by Aviva Investors. The property, including over 70 ...
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PropertyEU Archive
Kardan hit by CEE writedowns
Kardan, the real estate, financial services and infrastructure firm, reported a net loss of EUR 92 mln in 2009 mainly due to negative revaluation results in its CEE real estate activities and credit losses in its banking activities. However, operating revenues for GTC, Kardan's CEE Real Estate division, increased by ...
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PropertyEU Archive
Mountgrange acquires Surrey business park at 8.75% yield
Mountgrange Investment Management has agreed to purchase Meadows Business Park in the UK from financial services group Scottish Widows for £23.5 mln (EUR 26.1 mln). The site has been acquired for a net initial yield of 8.75%.
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News
CalPERS to invest $1.3bn in infrastructure in 2010
UNITED STATES - California Public Employees Retirement System wants to invest as much as $1.3bn (€961.5bn) in infrastructure during 2010. The initial focus will be investments in the United States and Europe. The pension fund is planning to invest $400m in a direct investment strategy. Most other pension funds in the US invest in infrastructure through either commingled funds or separate accounts. According to CalPERS officials, the benefits of direct investment is greater control and more focused capital deployments, the avoidance of manager fees and progress towards its goal of being a leading infrastructure investor. The remaining $900m allocated to the sector for this year would be done though commingled funds on a global basis. CalPERS have established a benchmark return for infrastructure of CPI plus 4%. According to CalPERS officials, the rationale for infrastructure is mainly diversification using long-term income-based investments that aren’t correlated strongly with global equity, the investor’s largest asset class. CalPERS has made commitments to infrastructure totaling $1.1bn. Some $400m was committed to funds transferred from the pension fund’s investments in real estate and private equity. This was moved into the inflation-linked asset class, which includes infrastructure. A further $700m has been committed to commingled funds. One of these was a $200m allocation to the CIM Infrastructure Fund. By August of 2009, less than 10% of that amount had been drawn down. CalPERS has made allocations in three other commingled funds. These were $100m each to Carlyle Infrastructure Partner and Alinda Infrastructure Fund I and $300m to Alinda Infrastructure Fund II. The pension fund’s target allocation for infrastructure is 1.5% of total plan assets within a range of 0.5% to 3.
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News
Pennsylvania Public School increases allocation to real estate
UNITED STATES - Pennsylvania Public School Employees’ Retirement System has decided to increase its targeted allocation for real estate from 8% to 10.5%. Most of the increase will be funded by the elimination of the pension fund’s 1.5% allocation to public REITs. Pennsylvania Public School ...
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News
UK REITs’ cash position strengthened
UK – Real estate investment trusts in the UK will be able to issue stock dividends in lieu of cash dividends if the current government remains in power after the next general election. UK chancellor Alistair Darling made the announcement in his pre-election Budget on Wednesday following lobbying pressure from ...
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News
BRIC-built recovery expected - JLL
GLOBAL – The BRIC countries will lead the global real estate market recovery as their economic expansion boosts occupier demand across all sectors and cross-border investment returns, according to Jones Lang LaSalle (JLL).
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News
Value emerging in industrials - Hansteen
UK – European industrial real estate investment trust (REIT) Hansteen has purchased an industrial estate and is in due diligence on three others for its new UK fund backed by institutional investors.
