Latest reports – Page 3343
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News
Ohio Teachers searches for new consultant
US – Ohio’s State Teachers’ Retirement System (STRS) is searching for a new investment consultant after Russell Investment Group announced it did not plan to extend its contract beyond June 2009.
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News
San Diego City plans tactical moves in real estate
UNITED STATES - San Diego City Employees’ Retirement System is planning to take advantage of tactical investment opportunities in the second half of this year in certain property types.
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News
TriCon comes up short on capital raising
UNITED STATES - TriCon Capital was only able to attract $350m (€257.6m) for its latest commingled fund, TriCon IX – just over 40% shy of its $600m target.
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News
Reita claims residential Reits are a good buy
EUROPE - Institutional investors should consider investing in residential property as an asset class and push for residential Real Estate Investment Trusts (REITs), according to Reita’s panel of property investment experts.
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News
ProLogis continues deleveraging drive
US – ProLogis, the North American industrial property developer, has gained further ground in its de-leveraging process after receiving a second round of proceeds from its Asian transactions.
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News
Real estate has to go 'back to basics' – E&Y
US – Real estate companies face fiercer competition now than ever before and would benefit from adopting a “back to basics” approach to emerge stronger from the financial crisis, according to Ernst & Young (E&Y).
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News
Invesco appoints new research heads
US - Invesco Real Estate is expanding its global reach with the appointment of Mark Roberts as global director of research and Mike Sobolik as regional director or research in North America.
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PropertyEU Archive
C&W gets $50m credit line after posting loss in 2008
Exor, the holding company of the Italian Agnelli family owning 72% of Cushman & Wakefield, said on Thursday that it is providing a $50 mln credit line to the real estate broker after it unveiled a loss for 2008 of EUR 20.2 mln. In its full year results published on ...
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PropertyEU Archive
F&C REIT closes £600m Dawnay Day deal
F&C Reit Asset Management and Area Property Partners completed on Wednesday their purchase of Dawnay Day's UK portfolio for £600 mln (EUR 642 mln). The companies said at end-February that they had exchanged contracts with administrator BDO Stoy Hayward to acquire the assets which include 212 properties in the UK. ...
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PropertyEU Archive
Argan buys logistics asset from ING fund
Paris-listed logistics property developer and investor Argan said on Tuesday that it has acquired a logistics site near Paris for an undisclosed amount from the Australia-listed ING Industrial Fund. The property located in Gonesse, was developed in 2004 and provides 22,000 m[sup]2[/sup] of space fully leased to Movianto, a subsidiary ...
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PropertyEU Archive
Archipelago launches EUR 30m Greek fund
Archipelago Investment Partners LLP (AIP), the strategic real estate investment advisory group, has announced the launch of its G1 Greek Real Estate Opportunities Fund. AIP is looking to raise EUR 30 mln, with a maximum final close of EUR 50 mln and a minimum subscription amount of EUR 250,000. The ...
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PropertyEU Archive
Canary Wharf owner warns it could go bust as values dive
Songbird Estates, the AIM-listed owner of more than half the buildings in London's Canary Wharf, has said there is a 'material risk' that it could breach a loan covenant within the next 12 months unless it is able to refinance a loan of £880 mln (EUR 943 mln).
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PropertyEU Archive
IVG extends EUR 1.3bn credit line to 2012
German real estate giant IVG Immobilien has reached agreement to combine EUR 1.3 bn of credit lines which were due to mature in the next two year into a single syndicated loan with 11 banks that matures in 2012.
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PropertyEU Archive
Spazio Investment posts 2008 loss, scraps dividend
Spazio Investment, the Amsterdam-based investment company focused on the Italian real estate market, said it reported a loss of EUR 8.6 mln in 2008, from a profit of EUR 45 mln a year before. The company's Net Asset Value per share stands at EUR 13.6, down from EUR 15.8 at ...
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PropertyEU Archive
Waldeck launches EUR 500m distressed hotel fund
Waldeck Capital has announced the launch of a EUR 500 mln fund to acquire luxury hotels in Europe and the US. The investment banking firm, incorporated in the US state of Delaware, said it is seeking investment from both institutions and individuals for the Global Hospitality Recovery Fund.
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PropertyEU Archive
Cofinimmo sells for EUR 111m
Belgian property company Cofinimmo said on Thursday that it has sold four leaseholds and freeholds of buildings for EUR 111 mln to raise financing for new investments. The company arranged the sale with a subsidiary of the Société Générale Group for the 15-year leasehold of a building in Brussels let ...
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PropertyEU Archive
Orco granted court protection to ease restructuring
Orco Property Group has been granted court protection from its creditors to give it more time to finalise a major restructuring plan. Paris Commercial Court granted Orco and a French subsidiary a Procedure de Sauvegarde for an initial six months. The status is renewable.
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PropertyEU Archive
Calpers, Hines reduce size of Spanish fund
US real estate developer Hines and US pension fund Calpers (California Public Employees' Retirement System) are reducing the size of their HCS Interest joint venture fund from EUR 183 mln to EUR 35 mln. The fund, headed by Carlos Matta, was launched in June 2006 and was targeting the Spanish ...
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PropertyEU Archive
Savills detects stir of investor interest in London's West End
The increasingly attractive yield gap and above average long-term yields, currently standing at 5.75%, are already beginning to stir some investment activity in the West End, Savills has said in its latest Central London office review. The report predicts a rise in West End investor interest for smaller lot sizes ...
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PropertyEU Archive
CBRE amends terms of corporate debt
CB Richard Ellis Group has sealed a refinancing of its credit facilities which will give it 'increased financial flexibility to navigate through a weaker market environment.' The amendment allows for a higher maximum leverage ratio, a lower minimum interest coverage ratio, and modifications to the calculation of EBITDA for financial ...
