Latest reports – Page 3291
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PropertyEU Archive
Risanamento CEO Zunino steps down: report
Risanamento's Chief Executive Officer Luigi Zunino has resigned, according to a report by newswire Bloomberg. The Italian real estate developer said it has raised cash after a Milan prosecutor’s request that the company be declared bankrupt.
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PropertyEU Archive
DTZ books pre-tax loss, but meets cost-cutting targets
Real estate adviser DTZ posted a full-year pre-tax loss of £35.1 mln (EUR 40.6 mln) in the year to April 2009 following restructuring costs and an 18.4% decline in revenue to £364.1 mln. However, the company has substantially shored up its balance sheet through an additional credit facility of up ...
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PropertyEU Archive
Prime office yields in Germany stable in Q2 - Savills
Prime yields for office buildings in CBD locations in Germany’s top five markets, Berlin, Düsseldorf, Frankfurt, Hamburg and Munich remained largely unchanged in Q2 compared to the first three months of the year, according to international property advisor Savills.
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PropertyEU Archive
Skanska sells office project in Malmö to Aberdeen
Swedish construction and real estate group Skanska has sold its ongoing office project Citykajen in Malmö to Aberdeen Property Nordic Fund I SICAV-FIS. The handover is on September 30, 2009.
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News
Mercer expands real estate operation
UNITED STATES- Mercer Investment Consulting is growing its real estate staff with the hiring of David Nix as a senior researcher.
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News
Florida Board of Administration reassigns MS managed assets
UNITED STATES - Florida State Board of Administration has signed contracts to transfer 85% of the $2.7bn (€1.93bn) separate account assets previously managed by Morgan Stanley Real Estate to Heitman, L&B Realty Advisors and Invesco Real Estate.
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News
South Yorks invests in UK retail development
UK – The South Yorkshire Pension Fund has agreed to fund a shopping centre redevelopment in Wales for £11.8m.
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News
Sarasin launches new green listed fund
GLOBAL – Sarasin has launched what it claims to be the world’s first fund to specialise in investing in sustainable real estate companies.
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News
CalPERS in $1bn retail joint venture
US – California Public Employees' Retirement System (CalPERS) has entered into a joint venture with First Washington Realty, which will purchase close to US$1bn (€700m) in retail real estate assets from Macquarie CountryWide Trust.
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PropertyEU Archive
Hypo Real Estate in need of fresh funds
German lender Hypo Real Estate may need to tap the government for even more capital than previously expected, according to reports in various media.
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PropertyEU Archive
ING RE and AkzoNobel agree new Dutch HQ
ING Real Estate and Amsterdam municipality have reached agreement on a new head office for chemicals concern AkzoNobel in Amsterdam's Zuidas development. The company's new HQ will have a surface area of 16,500 m[sup]2[/sup]. Further details on another office complex being planned for the area will be disclosed later this ...
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PropertyEU Archive
F&C REIT AM to launch EUR 450m German fund
F&C REIT Asset Management's Munich arm plans to set up a EUR 450 mln fund targeting German institutional investors which will invest in office and retail properties in medium-sized cities (20,000-200,000 inhabitants) in Germany.
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PropertyEU Archive
NSI sells five buildings in Netherlands
Dutch real estate firm Nieuwe Steen Investments has sold five buildings in the Netherlands for a total of EUR 9.95 mln. The divestments bring the total proceeds from the company's current disposal programme to EUR 74.8 mln. The funds from the sales will be used to improve the group's ...
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PropertyEU Archive
European retail investment up 85% in Q2 - JLL
Direct retail real estate investment in Continental Europe was up by 85% at EUR 1.9 bn in the second quarter of 2009, compared to EUR 1 bn in the first quarter of the year, according to new research from Jones Lang LaSalle. The rise was largely driven by an increase ...
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PropertyEU Archive
Beni Stabili sees net profit plunge in H1
Italian real estate firm Beni Stabili saw first-half net profit plunge 93% to EUR 4.3 mln due to write-downs on property values, news wire Reuters reported.
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PropertyEU Archive
Breeam Alliance to drive international sustainability standards
BRE Global has created a new Breeam Sustainability Alliance in a bid to improve the sustainability of buildings throughout Europe and beyond. The body was set up in response to demand from industry partners, developers and Green Building Councils, the organisation said in a press release.
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PropertyEU Archive
Re-pricing is bottoming out, says LaSalle IM
Investor sentiment has stabilised and re-pricing has found a floor, according to a mid-year update from LaSalle Investment Management on the European commercial real estate market. There is also evidence that there is increasing competition, particularly from foreign buyers attracted by the weakness in sterling and the benefits of the ...
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PropertyEU Archive
Kenmore sells Paris portfolio to private investor
Kenmore European Industrial Fund has announced that it has completed the sale of a large regional Paris-based portfolio to a private investor, for a total gross sum of EUR 59 mln. The sum reflects a net price approximately 4% below the March 2009 valuation. In addition, KEIF provided the purchaser ...
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PropertyEU Archive
Inrev investors remain committed to Asian funds
Investors remain committed to Asian non-listed real estate funds, although they have put short-term allocations on hold, according to the latest research from Inrev, the European association for non-listed real estate funds, in cooperation with sister organisations Area and Prea.
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PropertyEU Archive
Risanamento board to assess debt situation: FT
The board of Risanamento, one of Italy’s biggest property companies, was set to hold an emergency meeting on Monday after a court asked it to respond to a prosecutor’s request that it be declared bankrupt, according to a report in the Financial Times.
