Latest reports – Page 3348
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PropertyEU Archive
Correction: GOEFs see EUR 800m inflows in January
An article in the Weekly Edition of PropertyEU should have stated that German open-ended property funds recorded inflows totalling EUR 800 mln in January 2009. The figure of EUR 14 bn provided by German fund industry body BVI related to all asset classes.
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PropertyEU Archive
Lewis Charles sells Romanian Zenith development for 'nominal consideration'
Lewis Charles Romania Property Fund (LCSR) has announced the sale of its subsidiary Magnolia which holds a prime retail site in Ploiesti, Romania to Blackpearl Property for a 'nominal consideration'.
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PropertyEU Archive
UBS to re-open funds next month - report
UBS plans to re-open its property funds in Germany next month and to carry out acquisitions this year totalling as much as EUR 600 mln, according to a report by newswire Reuters. UBS, which froze redemptions on its Euroinvest and Kontinente Immobilien open-ended funds in late 2008, told the news ...
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PropertyEU Archive
European investors set to re-enter Russia on price decline, says C&W
International investors have started to re-enter the Russian property market as a result of a sharp price decline across all property sectors, according to Sergey Riabokobylko, joint head of C&W in Russia. Riabokobylko told PropertyEU that the country is seeing more activity in particular from European investors since the beginning ...
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PropertyEU Archive
Degi invests EUR 1.7bn in 2008, targets new acquisition this year
Degi, part of Aberdeen Property Investors, invested a total of EUR 1.7 bn last year on behalf of its public property funds. In a statement on Tuesday, the property asset manager said that new acquisitions are also planned for this year in anticipation of further inflows.
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PropertyEU Archive
AFI Development's NAV drops by 60% since June
Russian property builder AFI Development has seen its Net Asset Value per share fall by 60% over the past six months to $4.82, from $12.11 at end-June 2008. On Tuesday, the company reported a loss of $107.86 mln in 2008 compared with a profit of $215.6 mln at end-2007. The ...
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PropertyEU Archive
Spanish savings banks team up to sell distressed properties
Over half of Spain's savings banks are joining forces to sell defaulted property and developments through the launch of a new vehicle, Ahorro Corporación Soluciones Inmobiliarias (ASCI). The new company, which will be managed by Ahorro Corporation, a financial services group jointly owned by the Spanish Cajas, has already been ...
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PropertyEU Archive
Dolphin unveils share-for-assets programme
AIM-listed Dolphin Capital Investors (DCI), the largest residential resort investor in Southeast Europe, announced plans on Tuesday for a share buyback scheme under which shareholders will have the right to exchange common shares for certain real estate assets in the group.
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PropertyEU Archive
Hotasa Hoteles buys 2 sites in La Palma
Spain's Hotasa Hoteles, part of the Nueva Rumasa Group, said it has bought two hotels in the Canary island of La Palma for an undisclosed amount. The four-star hotel sites are the Hotel Taburiente Playa with 293 rooms and the Costa Salinas hotel with 140 rooms. The seller was H10 ...
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PropertyEU Archive
European hotel executives beset by bankruptcy fears - DLA Piper
A survey of 261 European hotel executives has revealed a worse-than-expected outlook for the hospitality industry with 79% of respondents predicting hotel chain bankruptcies in the next 12 months. Four in 10 hotel executives anticipate that more than five chains will go into administration in the next year.
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PropertyEU Archive
Lloyd Fonds buys Motel One hotel in Nurnberg
Germany's Lloyd Fonds has acquired a Motel One hotel in Nürnberg for an undisclosed amount. The two-star hotel property is earmarked for Lloyd's Moderne Grobstadthotels property fund. The hotel is rented for 25 years with a five-year extension. The 200-room property was completed in July 2008. Lloyd said this is ...
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PropertyEU Archive
FdR asks AMF for license to manage OPCIs
Fonciere des Regions (FdR) has asked the French stock market regulator AMF for a license to enable it to manage OPCIs, a new type of non listed investment vehicles introduced in France at the end of 2007. 'We hope to receive the green light from the AMF before the summer,' ...
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News
Norway PF to start buying later this year
NORWAY – Norway’s Government Pension Fund Global will begin to buy commercial property in the second half of this year and will focus on investing in the UK as part of its plans to invest £14.5bn (€15.7bn) in real estate in the coming years.
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News
Fund eyes retail shopping sales
UK – Sovereign Land and Strutt & Parker Real Estate Financial Services (SPREFS) are working together to create a £300m (€327m) fund to invest in UK shopping centres.
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News
Risk in the US may be worth buying - RREEF
US – North American real estate markets are expected to offer high-risk investors “highly attractive” opportunities in 2009, suggests research from RREEF Alternative Investments.
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News
Industrial potential shifts to South America
EUROPE – Industrial commercial property markets in Central and Eastern Europe (CEE) and South America were the best performing worldwide in 2008 and are likely to continue doing well, according to research from Cushman & Wakefield.
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News
Sustainability evaluation is still lacking - CBRE
GLOBAL – Sustainability continues to be a major priority for the real estate industry but more should be done to measure and evaluate green buildings and their costs, claims research by CB Richard Ellis (CBRE).
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News
Japan stayed positive in global downturn
JAPAN - Japanese property returns remained for most of 2008 positive thanks to a strong, steady income return, according to the Investment Property Databank’s (IPD’s) Japan Monthly Indicator.
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News
Prupim signs new investment head
GLOBAL – Prupim, the real estate division of the UK life assurer Prudential plc, has appointed John Wythe as head of fund management.
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PropertyEU Archive
IPD: Germany remains most stable market in Europe
Germany has so far been holding up as the most stable market in Europe, according to Daniel Piazolo, managing director of IPD Germany. Speaking on a panel at the Mipim trade fair in Cannes last week, Piazolo said he would be surprised if Germany saw the big drop in capital ...
