Latest reports – Page 3332
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PropertyEU Archive
UK empty rates 'increase unnecessary demolition'
The UK's Empty Property Rates (EPR) system is paving the way for future instability in non-residential property markets as property owners are increasingly turning to demolition to avoid paying the rates whilst cutting back on future investment, according to the results of a new study published by the RICS and ...
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PropertyEU Archive
Hedge fund rejects Hypo nationalisation offer
Hedge Fund manager Exchange Investors has rejected the takeover offer made by the German government for the shares of property financier Hypo Real Estate.
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PropertyEU Archive
Direct property outperforms pool funds in Q1, says IPD
Total returns for all UK pooled funds in the first quarter came to -11.1%, according to the IPD. The result was less severe than the previous quarter's -18.7% return, but a much steeper quarterly loss than the same period last year, which turned in a return of -4.9%.
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PropertyEU Archive
Pirelli RE posts EUR 15m loss in Q1
Pirelli RE remained in the red in the first quarter of 2009 but the loss narrowed compared with the last quarter of 2008, the company said on Tuesday. 'Again in the first quarter of 2009, the real estate industry felt the effects of the serious international crisis that began in ...
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PropertyEU Archive
Atrium announces new appointments
Atrium European Real Estate has announced the appointments of Ewoud van Gellicum as General Counsel, and Ljudmila Popova as the company's Financial Analyst.
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PropertyEU Archive
Unibail Rodamco's turnover up 3.4% in Q1
Franco-Dutch property company Unibail Rodamco saw its first-quarter turnover increase by 3.4% year-on-year to EUR 417 mln. Turnover was boosted in particular by the high performance in the retail sector where revenues increased to EUR 259 mln in the first three months from EUR 248 mln in the same period ...
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PropertyEU Archive
Immac buys portfolio in Austria for EUR 64m
German investor Immac has acquired a portfolio of five nursing facilities in Austria for a total of EUR 64 mln. The properties with a total of 584 beds are located in Steiermark, in the vicinity of Vienna.
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PropertyEU Archive
Orchard Street completes two deals with RBS funding
Orchard Street UK Special Situations Fund has completed the purchase of two retail assets in the UK. The fund, managed by Orchard Street Investment Management bought Royals Shopping Centre in Southend and Meadows Retail Park in Chelmsford. The vendor of Royals Shopping Centre was Warner Estate.
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News
Listed stocks could be a market turn indicator – study
GLOBAL - Listed real estate stocks tend to lead the underlying property markets by six months and can therefore be used as a leading indicator to enhance real estate investors’ returns, according to a study by Cohen & Steers.
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News
Texas Teachers to invest $475m in LLPs
UNITED STATES - Teacher Retirement System of Texas is in the process of setting up two limited partnership funds with assets of $475m (€358.1m) which could make it the only pension fund investor.
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News
Western Europe favoured in real estate trading
EUROPE - Investment activity in European commercial real estate was down significantly in the first quarter of 2009, especially in central and eastern Europe (CEE), although the retail sector saw stronger transaction volumes, according to property agencies.
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News
JER loses another key player
GLOBAL - Michael Pralle has resigned as chief operating officer at real estate opportunity fund manager JER Partners after joining 18 months ago.
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News
Maine adds to infrastructure portfolio
UNITED STATES - Maine Public Employees Retirement System is now moving ahead with plans to hold up to 5% of its assets infrastructure, and has made a further investment which could eventually lead the fund to invest up to $400m (€301.8m) in the asset class.
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News
ING REIM loses its head
GLOBAL - Robert Houston is stepping down as chief executive of ING Real Estate Investment Management in the summer.
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PropertyEU Archive
Italian capital values fell steeper than first indicated: IPD
Commercial property capital growth in Italy totalled -3.3% in 2008, according to the IPD Italy Annual Property Index. This implies a steeper value correction than the Bi-Annual Indicator revealed earlier this month. According to the index, income returns were steady in 2008, at 5.4%, contributing to a 2.0% annual total ...
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PropertyEU Archive
Rental prices down in Frankfurt office market
Some 135,500 m[sup]2[/sup] of office space was let in Frankfurt in the first quarter of 2009, compared to 98,000 m[sup]2[/sup] in the same period last year, according to property adviser NAI Apollo. But the 38% increase in comparative letting activity was largely due to two major transactions, the Deutsche Bahn ...
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PropertyEU Archive
Capital & Regional announces equity raising
Capital & Regional, the co-investing property asset manager, has announced it is seeking to raise around £65 mln (EUR 73 mln) in new equity for its Junction fund. Under the terms of the transaction AREA Property Partners, formerly Apollo Real Estate, is proposing to provide the bulk of the funds ...
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PropertyEU Archive
AXA fund enters Sweden with EUR 40m retail buy
AXA Investment Managers Deutschland’s Immosolutions fund has made its first investment in the Nordics with the acquisition of a retail property in Sweden for EUR 40 mln. The fund has bought four fully-let units in the Bilen retail park in the southern city of Kalmar.
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PropertyEU Archive
ING REIM sells De Wieën mall in Netherlands
ING Real Estate Investment Management (REIM) has sold De Wieën shopping centre in the Dutch border town of Venlo to a private investor for EUR 15 mln. The shopping centre, comprising around 6,400 m[sup]2[/sup] of gross lettable area, generates an annual rental stream of more than EUR 1 mln and ...
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PropertyEU Archive
Worboys appointed as CEO of Pinnacle
Pinnacle has announced the appointment of Ian Worboys as CEO. The operator and developer of distribution facilities in Europe had earlier strengthened its management team with James Riddell joining from Hines UK to take up the position of chief financial officer.
