Latest reports – Page 3235
-
PropertyEU Archive
Realia swings to loss of EUR 43m
Spanish property company Realia swung to a net loss of EUR 43 mln in the first nine months of the year on the back of devaluations in its property portfolio. The company posted a profit of EUR 39 mln in the corresponding period a year before. Its turnover dropped by ...
-
PropertyEU Archive
Union Investment reports 17% increase in AUM
German investment fund manager Union Investment said its assets under management (AUM) have increased 17% since the start of 2009, bringing total property fund assets to a new record of EUR 18 bn. Total assets in the four retail real estate funds and two institutional funds passed the EUR 18 ...
-
PropertyEU Archive
RICS unveils global climate change strategy
The Royal Institution of Chartered Surveyors (RICS) unveiled its global climate change strategy on Tuesday, saying it was committed to taking concrete action globally to stress the value and potential of an emerging low-carbon property market.
-
PropertyEU Archive
Eurocommercial buys two shopping centres for EUR 100m
Amsterdam-listed Eurocommercial Properties has announced it is acquiring two existing shopping centres in France and Italy for a total of EUR 100 mln, reflecting a combined net yield of 6.5%.
-
PropertyEU Archive
Buyside sceptical on Continental valuations: JP Morgan
Listed real estate companies in Europe need to increase their focus on property appraisals and their disclosure as a new survey shows widespread scepticism on property valuations, according to JP Morgan. The survey carried out by property analysts Harm Meijer and Osmann Malik at JP Morgan's European Equity Research division ...
-
PropertyEU Archive
Russian hotel group files for bankruptcy
Russian hotel operator Heliopark Group and its property management arm Heliopark Hotel Management have filed for bankruptcy in a Moscow court after failing to repay creditors.
-
PropertyEU Archive
Estcapital appointed to manage Venice's property fund
The management arm of Italy's Estcapital has won an auction organised by the municipality of Venice for the management of some of the city's property assets. A partnership of SGR Estcapital and Unicredit Corporate Banking has emerged ahead of 11 bidders including Pirelli Real Estate for the creation and the ...
-
PropertyEU Archive
Risk aversion remains across Europe: DTZ
Commercial real estate investors across Europe show little willingness to move up the risk curve, according to DTZ's latest European Quarterly report. Over the third quarter, commercial real estate investment activity remained focused on the main liquid and transparent markets of Western Europe.
-
PropertyEU Archive
Horus Capital sells Moscow properties for $270m
Russian lender Binbank and Bin Group have acquired a number of office and retail buildings in Moscow from UK-based Horus Capital for a reported sum of $270 mln (EUR 180 mln). According to a news report in Russian paper Commercial Real Estate, the two investors have purchased half of Horus ...
-
PropertyEU Archive
WestImmo places second EUR 500m Pfandbrief
Westdeutsche ImmobilienBank (WestImmo) has placed its second EUR 500 mln benchmark mortgage Pfandbrief on the capital market. The coupon amounts to 2.5 %. The Pfandbrief runs until June 2013 and the yield mark-up is 23 basis points above swap-mid.
-
PropertyEU Archive
Skanska brings pension funds together to buy projects
Construction giant and developer Skanska announced on Tuesday that it is selling two ongoing projects to a group of pension funds in one of the largest property transactions in Sweden this year. Skanska's investment in the two properties amounts to SEK 1.25 bn (EUR 122 mln). The company estimated that ...
-
PropertyEU Archive
Minerva rejects unsolicited offer from South African investor
London-based developer Minerva has rejected an unsolicited takeover offer from KiFin, a company controlled by South African businessman Nathan Kirsh. Minerva's board described the 50 pence per share offer as 'an opportunistic and unwelcome attempt to acquire Minerva at a price which significantly undervalues the company and its future prospects'.
-
PropertyEU Archive
Aberdeen halts withdrawals from Degi International fund
Aberdeen Immobilien (formerly Degi) has suspended both the redemption and issuance of fund shares for its Degi International fund with immediate effect, the fund manager said on Tuesday. Issuance of Degi Europa fund shares has also been suspended. Degi said the measure had been taken to safeguard ongoing business operations ...
-
PropertyEU Archive
Starwood buys City Tower in London
US private investment firm Starwood Capital Group Global has confirmed that funds it manages have purchased the City Tower building in the City of London from Prupim. Financial details were not disclosed. The building at 40 Basinghall Street consists of 13,200 m[sup]2[/sup] over 21 floors, and houses some 40 ...
-
PropertyEU Archive
Redevco expands focus to Asia
Retail property specialist Redevco has started to explore investment opportunities in Asia following its expansion in recent years in Eastern Europe. Redevco said China and India in particular are enjoying rapid economic expansion in Asia. Initially, the firm will focus on participating in new development projects in major cities in ...
-
PropertyEU Archive
Ex-Hammerson France chief takes top job at Gecina
Christophe Clamageran has been appointed the new CEO of French listed property group Gecina with immediate effect, the company announced in a press release. Clamageran, 46, was previously CEO of Hammerson France, in charge of the company's activities in Continental Europe. At Gecina, he will replace Antonio Truan ...
-
News
Korea’s pension reserve buys HSBC tower
UK – HSBC Bank has agreed to sell its London headquarters in Canary Wharf to the National Pension Service of Korea (NPS) for £772.5m (€861m) in cash.
-
News
CalSTRS takes first step in real estate shift
UNITED STATES – California State Teachers Retirement System (CalSTRS) is in the process of making some changes to its real estate investment policy which could reduce its investment in core strategies, in favour of higher-returning investments.
-
News
SRI real estate fund gains positive pensions start
UK – Local authority pension funds have given their financial backing to a new socially-responsible real estate fund based in the UK and launched by Bridges Ventures.
-
News
Orange County targets core and debt strategies
UNITED STATES - Orange County Employees Retirement System and its consultant, Callan Associates, have determined that core and distressed debt opportunities will offer the most compelling investment possibilities in the near future real estate market.
