Latest reports – Page 3330
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PropertyEU Archive
Pirelli RE to sell EUR 1 bn of assets in 2009
Italian property group Pirelli Real Estate is targeting the sale of EUR 1 bn of assets this year as part of a plan to restructure its business, news agency Radiocor has reported, quoting chairman M. Tronchetti Provera. The Milan-based property group, which last week unveiled a EUR 15 mln operating ...
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PropertyEU Archive
Henderson sells Kew Retail Park for £31m
UK Commercial Property Trust, managed by Ignis Asset Management, has purchased the 6,000 m[sup]2[/sup] Kew Retail Park outside London from Henderson UK Retail Warehouse Fund for £31 mln (EUR 35 mln) representing a net initial yield of 6.89%. The scheme houses retailers such as Mothercare, TK Maxx, Gap, Next and ...
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PropertyEU Archive
Yields convergence points to deeper downturn, says Savills
Prime Central Business Disitrct office yields have already exceeded levels at the bottom of the previous investment cycle in 2003, and currently stand at 50 basis points higher in London (West End), Paris and Madrid, with Dublin at 150 basis points higher, according to new research issued by Savills on ...
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PropertyEU Archive
European retail industry headed for U-shaped downturn
The European economy is headed for a U-shaped downturn, according to Prof. Norbert Walter, chief economist at Deutsche Bank and one of the keynote speakers at last week's annual conference of the International Council of Shopping Centers in Barcelona. 'US stocks have booked a recovery these past few weeks and ...
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PropertyEU Archive
Multi scoops 3 ICSC awards
Dutch property group Multi Corporation said on Monday it has won three awards at the ICSC 2009 European Shopping Centre Conference for its Forum Mersin, Turkey and Victoria Square, Belfast. The Gouda-based shopping centre developer was the only multiple award winner at the conference held last week in Barcelona.
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PropertyEU Archive
Debt problems major concern for non-listed funds: Inrev
Investors and fund of funds managers say they are particularly concerned about potential debt problems for non-listed real estate funds launched in 2006 and 2007, according to a study carried out by the European Association for Investors in Non-listed Real Estate Vehicles (Inrev).
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PropertyEU Archive
Mild correction in Belgian property market in 2008, says IPD
Belgian commercial real estate delivered mild capital depreciation over 2008, at -1.2%, according to the IPD Belgium Annual Property Index. Income returns over last year were robust, falling just 10 basis points to 5.7%, contributing to an annual total return of 4.5%.
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PropertyEU Archive
Crisis offers chance for renaissance of inner cities, says ECE
Shopping malls can support the renaissance of urban city centres, according to Alexander Otto, CEO of German retail developer ECE. Speaking at the annual conference of the International Council of Shopping Centers (ICSC) in Barcelona, Otto said the financial crisis has put the uncontrolled expansion of non-integrated greenfield shopping centres ...
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PropertyEU Archive
Inrev index shows downturn spreading to Continent
The Inrev index returned -26.8% in 2008 as the global financial crisis continued to affect the non-listed real estate funds sector in Europe. The index realised returns of -2.1% in 2007.
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PropertyEU Archive
European investment drops 34% in Q1, says Atisreal
European investment volumes fell a further 34% in the first quarter of 2009, the largest quarterly fall recorded, according to new research published by property services firm Atisreal. London saw the biggest volume of transactions at almost double the volume for Paris and more than treble the other five major ...
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PropertyEU Archive
Reduced opening hours mooted to help retailers
Landlords and retailers need to find ways to generate savings in the current downturn, ICSC chairman Mary Lou Fiala told delegates at the annual conference of the International Council of Shopping Centres in Barcelona. 'They need to build bold new partnerships and develop short-term strategies for a brighter and stronger ...
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PropertyEU Archive
Investors reluctant to provide fresh equity
Investors have been reluctant to commit fresh equity to existing non-listed real estate funds, according to a debt survey carried out by the European Association of Non-Listed Real Estate Vehicles (Inrev). The Inrev study also reveals high levels of concerns about debt issues in non-listed property funds. The majority of ...
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PropertyEU Archive
ICSC adjusts membership conditions to crisis
The International Council of Shopping Centers (ICSC) is adapting to the crisis and offering unemployed retail professionals a nine-month period of free membership provided they have been a member for two of the past three years. 'We are also offering them the opportunity to place free job ads on the ...
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PropertyEU Archive
German government aims to seize Hypo via capital increase
The German government plans to press forward with the contested takeover of ailing property financier Hypo Real Estate by fully subscribing to a capital increase which would give it a 90% stake in the bank.
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PropertyEU Archive
Foruminvest sells Twentec shopping centre in Enschede
Union Investment has acquired the Twentec shopping centre in Enschede from Dutch property investment company Foruminvest for EUR 29 mln. The property is earmarked for Union Investment's Defo Property Fund I. Built in 2003, Twentec is located close to the historic old city of Enschede at the newly planned Van ...
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PropertyEU Archive
Sistema-Hals fully places EUR 45m of bonds
Russian real estate developer Sistema-Hals said on Friday that the placement of the second tranche of its rouble bond public offering was fully subscribed. The London-listed company has issued 2 million securities with par value 1,000 roubles each, raising a total of 2 bn roubles (EUR 45 mln). The bonds, ...
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PropertyEU Archive
Citycon swings to EUR 18m loss in Q1
Finnish property investment firm Citycon swung to a loss of EUR 18.1 mln in the first quarter of 2009 from a profit of EUR 11.3 mln a year earlier due to a EUR -31.6 mln devaluation of its investment properties. Turnover grew by 3.6% year on year to EUR 45.9 ...
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PropertyEU Archive
OVG delivers Faasen & Partners office in Rotterdam
Dutch property developer OVG said on Thursday that its new Brainpark III office development in Rotterdam has been delivered to its tenant, law firm Faasen & Partners. The property, which took 10 months to complete, was designed by architects Broek - Bakema Architecten and built by construction firm Slavenburg. During ...
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PropertyEU Archive
IVG names new head of asset management
Germany's IVG Asset Management has appointed Peter Forster to the position of managing director with effect from 1 July 2009. Forster is currently Deka's Asset Management Director for Germany and has 25 years of experience in national and international real estate management. Previously the 49-year-old civil engineer was in charge ...
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PropertyEU Archive
San Jose renegotiates EUR 2bn of debt
Spanish property group San Jose and its parent company Parquesol Inmobiliaria y Proyectos said on Thursday that they have reached an agreement with banks regarding the refinancing of the group´s corporate debt for a total of EUR 2 bn.
