Latest reports – Page 3277
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PropertyEU Archive
More LTV breaches loom
Liquidity remains a major potential problem for European REITs with more loan-to-value breaches looming in the months ahead, according to Lynn Valkenaar, vice president and senior analyst at ratings agency Moody’s.
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PropertyEU Archive
Stephen leaves JLL for F&C, Max Property directorships
Jones Lang LaSalle has announced that John Stephen, chairman of its English business, is to retire from the firm to take up a series of external property roles. These include directorships of F&C Commercial Property Trust and Max Property Group, adviser to Evans Property Group and a trustee of the ...
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PropertyEU Archive
Galeria Mokotów draws largest CEE refinancing deal
Galeria Mokotów was the first large, modern shopping centre in Warsaw when it opened in 2000. Nine years later, the centre is still one of the three dominant malls in the Polish capital and the country as a whole. It achieved another record in August this year when it was ...
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PropertyEU Archive
Multi's Dresden mall wins top eco-label
Germany is currently the most important market for European shopping centre developer Multi Corporation. This autumn, the Netherlands-based company is opening Centrum Galerie in Dresden, a 52,000 m[sup]2[/sup] mall built at a cost of some EUR 300 mln.
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PropertyEU Archive
First phase of ULI Energy Exchange to be launched in November
Nearly seven years after the European Union passed legislation requiring property owners to report on the energy performance of their buildings, a new round of tougher regulations is under way. Plans to revise the Energy Performance of Buildings Directive (EPBD) in 2010 are expected to result in even tighter emissions ...
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PropertyEU Archive
Devaluations continue to hit listed stocks
The decline in real estate values slowed in the first half, but Europe's listed stocks are not out of woods yet. As in 2008, several UK REITs including Segro and Liberaty International recorded the sharpest falls in the value of their portfolios, while of Continental players saw the writedowns confined ...
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PropertyEU Archive
European cities shrug off recession to increase occupancy
Six out of the 10 hotel markets reviewed in July experienced a growth in room occupancy levels, according to a survey by TRI Hospitality Consultancy. Amsterdam showed the highest rate of improvement with an increase of 7.9 percentage points, compared with July 2008.
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PropertyEU Archive
Newsum sees a stronger voice for ULI on public policy
Jeremy Newsum is not fazed by being the first Brit to chair the Urban Land Institute, the US parent organisation of ULI Europe which has its roots in 1930s America and a wide US following. ‘I think it may have come as a shock to some Americans. But luckily they ...
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PropertyEU Archive
Metrovacesa swings to H1 net loss
Spain's largest property company Metrovacesa said it has swung to a loss of EUR 178 mln in the first half of 2009 from a profit of EUR 131 mln a year before. The sharp decline mainly reflects higher expenses, write-downs on a number of projects and the impact of the ...
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PropertyEU Archive
C&W Budapest wins second business superbrand title
Global real estate consultant Cushman & Wakefield obtained the honorific 'Business Superbrand 2009' title adjudicated to the best B2B brands by an independent expert committee, for the second time running in 2009.
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News
State of Florida shifts remaining MS account to Pramerica
UNITED STATES – The Florida State Board of Administration has appointed Pramerica Real Estate Investors to manage the last 15% of a separate account previously managed by Morgan Stanley Real Estate.
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News
NYSTRS adds to mortgage portfolio
UNITED STATES - New York State Teachers Retirement System has expanded its mortgage portfolio with two recent transactions totaling $130m (€90.6m).
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PropertyEU Archive
Rabo Real Estate sees profit fall 27%
Rabo Real Estate Group booked a net profit of EUR 68 mln in the first six months, a decline of 27% compared to the same period last year. FGH Bank saw the level of its lending portfolio virtually unchanged at EUR 17 bn at end-June. Despite the recession, margins on ...
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PropertyEU Archive
Regional German banks boost market share
Regional German financiers including Helaba, Berlin Hyp and WestImmo have all boosted their lending volume in the past year in the face of tighter financing conditions across Europe. This is one of the key conclusions of the annual PropertyEU ranking of Top Financiers in Europe published in PropertyEU Magazine this ...
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PropertyEU Archive
GPT sees losses widen
Australia's GPT Group reported a loss of A$1.2 bn (EUR 701 mln) in the first half, reflecting the write-down of its European joint venture with Babcock & Brown for A$1.09 bn. This compares with a A$67.7 mln loss a year earlier. Operating profit declined 22% to A$183 mln, the company ...
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PropertyEU Archive
F&C REIT acquire EUR 19m Cheshire distribution warehouse
F&C REIT Asset Management has purchased a distribution unit at Midpoint 18 Middlewich, Cheshire from Aviva's Norwich Property Trust for £16.5 (EUR 18.7 mln).
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PropertyEU Archive
German funds see EUR 400m outflows in July
Germany's open-ended property funds registered average outflows of just over EUR 400 mln in July, according to new figures from fund industry body BVI.
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PropertyEU Archive
AXA Immoselect reopens following redemption ban
Axa Immoselect, Axa Investment Managers' open-ended property fund that invests across Europe, has lifted its ban on redemptions imposed last October to stave off a liquidity crisis. From Friday, it will take back participation certificates from investors, allowing them to withdraw from the fund.
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PropertyEU Archive
Valad books A$1.5b loss
Diversified Australian property company Valad Property Group booked a A$1.49 bn (EUR 871 mln) loss for the 2008/09 financial year. The company is currently in the process of managing down its UK and European activities.
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PropertyEU Archive
Upturn in small deals in July
Persistent reports of renewed interest among investors in UK and European real estate failed to translate into more large transactions in July. PropertyEU’s research team recorded just 16 deals in which transaction volumes of EUR 50 mln-plus were reported in July.
