Latest reports – Page 3192
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News
German property faces fresh freeze
GERMANY – Open-ended real estate funds in Germany have suffered another bout of redemption freezes following writedowns in property valuations.
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News
Mass PRIM to invest $1bn in 2010
UNITED STATES - Massachusetts Pension Reserves Investment Management Board has approved its 2010 annual real estate investment plan and could allocate as much as $1bn (€729.7m) to the asset class over the next 12 months.
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News
COP says US real estate could bring TARP downturn
US – Real estate loan failures at a large number of small and medium-sized US banks could destabilise the country’s financial system and derail its economy recovery, according to the government body set up to monitor the unwinding of toxic assets.
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News
LGP is latest to drive inflation-linking real estate
UK – Legal & General Property (LGP) has become the latest fund manager to offer defined benefit pension funds access to real estate providing inflation-linked income.
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News
Ohio PERS eyes apartments and mortgages
UNITED STATES – The Ohio Public Employees Retirement System has issued Requests for Information (RFI) concerning separate account managers working in the residential apartments and first mortgage loan portfolios space.
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PropertyEU Archive
Hatfield Philips launches pan-European agency service
Hatfield Philips International (HPI), an independent primary and special servicer, has launched Hatfield Philips Agency Service (HPAS). The company says its new pan-European service expects to be substantially more efficient and cost effective than traditional in-house agency businesses.
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PropertyEU Archive
IVG acquires office property in Finland
IVG Institutional Funds has signed an agreement with YIT Rakennus to acquire the Avia Line II office property in the Finnish city of Vantaa for about EUR 8 mln.
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PropertyEU Archive
Unibail-Rodamco sells five Dutch malls to Wereldhave
Listed retail specialist Unibail-Rodamco has confirmed it is selling five shopping malls in the Netherlands to its smaller Dutch peer Wereldhave for EUR 235 mln. The divestment is part of the company's strategy to focus on large shopping centres around Europe. The deal will generate an undisclosed capital gain relative ...
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PropertyEU Archive
Sjælsø sells projects in Ballerup and Ørestad for EUR 22m
Sjælsø Gruppen announced on Tuesday that it has sold two projects in Denmark for a total of DKK 165 mln (EUR 22 mln). The listed Danish developer sold an office building in Ballerup to Dansk Ejendomsfond I for DKK 75 mln. IT assessment and certification group UL International has ...
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PropertyEU Archive
Silic acquires 14,500 m[sup]2[/sup] building in Nanterre
French business park owner Silic has acquired an office building with 14,500 m[sup]2[/sup] of space in Nanterre from CBRE Investors. The property, located at 21/29 Trois Fontanot, is fully rented out to French electricity company RTE and the social security assistance provider Epasa. According to market sources, the transaction price ...
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PropertyEU Archive
Fimit's Alpha Fund sells EUR 26m property in Rome
Fondo Alpha Immobiliare, a real estate investment vehicle managed by Italy's Fimit, has completed the sale of an office and retail property located on Via Cristoforo Colombo 70 in Rome, for an amount of EUR 25.5 mln. The buyer is an undisclosed private investor.
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PropertyEU Archive
Core segment to remain crowded, INREV panel says
Investors in non-listed real estate funds in Europe are likely to remain focused on the core segment of the market at the expense of value-add and opportunistic styles for many years to come. This was one of the key messages during a panel discussion at a seminar held by the ...
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PropertyEU Archive
Prupim spend £36 million in major Aberdeen deal
A commercial property fund managed by real estate investment managers Prupim has acquired has the Acergy Development in Westhill, Aberdeen from Stewart Milne Developments for £36 mln (EUR 41.3 mln).
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PropertyEU Archive
Prologis to boost stake in Prologis European Properties
Denver-based Prologis, the world's leading provider of distribution facilities, has announced plans to purchase additional ordinary shares carrying voting rights of Prologis European Properties, a Luxembourg closed-ended investment fund. The company said the transaction would take place in the open market or in privately negotiated transactions. Prologis currently holds approximately ...
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PropertyEU Archive
M1 completes largest London West End deal since 2007
Lebanese group M1 Real Estate has acquired Victoria House in Bloomsbury Square, London from Irish-based Moritz Group for about £175 mln (EUR 201 mln). Jones Lang LaSalle, which advised M1, said this was the largest office deal in the West End market since 2007. 'M1 secured the deal in front ...
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PropertyEU Archive
Belgian property investment soars 205%: Savills
Investment levels in Belgium increased by up to 205% in the fourth quarter of 2009 compared with the previous quarter, totalling EUR 430.6 mln, according to a report published by property advisor Savills.
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PropertyEU Archive
Altarea sells Toulouse mall to Commerz Real for EUR 90m
French commercial property group Altarea said that it has signed a preliminary agreement to sell the Espace Saint-Georges shopping centre in Toulouse, France to German open-ended fund manager Commerz Real for EUR 90 mln.
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PropertyEU Archive
Colonial to refinance EUR 4.9 bn of debt
The board of troubled Spanish real estate developer Colonial has approved the terms and conditions of a plan to restructure around EUR 4.9 bn of debt. In a statement to the Spanish stock market regulator CNMV, Colonial said that it will continue to negotiate with its creditor banks to receive ...
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PropertyEU Archive
BNP Paribas RE sees UK retail outperforming in 2010
UK retail property will be the ‘winner’ in 2010 with a 4.5% rise in capital values across both prime and secondary assets in the sector, according to the latest economic forecasts of BNP Paribas Real Estate. By comparison, the adviser is forecasting capital values in the office sector will grow ...
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PropertyEU Archive
SFL sees 2009 losses narrow to EUR 252m
French commercial property company Société Foncière Lyonnaise (SFL) reported net losses narrowed by 36% in 2009 to EUR 252 mln. '2009 saw a further improvement in operating indicators thanks to firm rental revenues and reductions in both operating expenses and financing costs', the company said in a statement.
