Latest reports – Page 3359
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PropertyEU Archive
Segro confirms it is considering equity raising
Segro has confirmed that it is in talks about a potential fund raising to strengthen its balance sheet. It was responding to media reports that it is poised to launch a discounted rights issue to raise £300-£400 mln (EUR 335--446 mln).
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PropertyEU Archive
Sirius secures EUR 45m credit facility
Sirius, the real estate company that acquires large mixed-use commercial sites for upgrading into flexible workspaces in Germany, has secured a new EUR 45 mln credit facility from Landesbank Berlin, the owner of BerlinHyp.
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PropertyEU Archive
Immofinanz sells EUR 300 mln in assets as part of restructuring
Immofinanz has sold EUR 300 mln worth of assets since November 2008 despite the financial crisis. The listed Austrian real estate group said the sales were carried out at prices on average above current appraisal values.
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PropertyEU Archive
Matterhorn Capital acquires London's O2 centre for EUR 103m
Capital & Regional, the co-investing property asset manager, has said that its X-Leisure Fund has agreed to sell the 02 Centre in Finchley Road, London to property company Matterhorn Capital for £92.5 mln (almost 103 mln). Capital & Regional holds a 19.4% stake in the fund and is the property ...
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PropertyEU Archive
Fashion House enters Russia, to develop first outlet centre in the country
Fashion House Development (FHD), a Poland-based partnership between GVA Grimley Outlet Services and Belgium's Liebrecht & Wood, said on Monday that it has completed the acquisition of a land plot on which the group plans to develop Russia's first outlet centre. The plot is located in Moscow and was bought ...
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PropertyEU Archive
Prologis finds new tenant for Marseille project
Point P, part of global manufacturer Groupe Saint-Gobain, is to take 38,560 m[sup]2[/sup] of logistics space in a new project being developed by Prologis in the Marseille region of France. The development is scheduled for completion in the summer of 2009. DTZ advised the lessor and the lessee. 'Since the ...
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News
Sweden sees first signs of real estate downturn
SWEDEN – Swedish commercial real estate returns fell to -3.3% in 2008, according to latest figures from the SFI/IPD Index published by the Investment Property Databank (IPD).
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News
Quebec loses a fifth on real estate
CANADA – The Caisse de dépôt et placement du Québec’s real estate portfolio declined by 21.9% in 2008, contributing to a loss worth a quarter of the firm’s total value.
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News
Lancashire lays groundwork for infrastructure investing
UK - The Lancashire County Council Pension Fund is considering investing around £80m (€89.55m) in infrastructure as part of a new strategy to diversify its investments.
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News
Preqin reveals record debt interest
GLOBAL – Distressed debt fundraising from institutional investors reached record highs in 2008 as a result of the volatile markets, according to Preqin’s latest monthly report.
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News
Pension funds to raise real estate holdings to over 10%
GERMANY – German retirement vehicles are among the institutional investors planning the largest increase in their real estate holdings over the next two years, according to research conducted by Feri Advisors.
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PropertyEU Archive
Jelmoli closes EUR 40m acquisition of Tivona
Swiss property company Jelmoli said on Friday that it has closed the acquisition of the remaining 55.5% stake in Tivona AG for CHF 60 mln (EUR 40 mln) in cash and 80,000 Jelmoli shares. All closing conditions have been fulfilled and Tivona will be fully consolidated with immediate effect, the ...
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PropertyEU Archive
Sistema-Hals buys further 25% of Yalta project
Russian developer Sistema-Hals said on Friday that it has increased its stake in a mixed-use project in Yalta, Ukraine, from 75% to 100%. The project consists of about 2.4 hectares of land centrally located in Yalta and just 500 metres away from the beach. Sistema-Hals plans to build a multi-use ...
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PropertyEU Archive
BPT launches Nordic fund in 'ocean of opportunities'
Copenhagen-based Baltic Property Trust, the largest commercial real estate investor in the Baltic Sea region, has said its new Nordic fund will start acquiring assets in the ‘ocean of opportunities’ in Denmark, Finland, Norway and Sweden from June this year. The closed-end, unlisted BPT Nordic Opportunity fund will have a ...
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PropertyEU Archive
More rights issues ahead in the UK property sector
As companies seek to strengthen their capital position, a number of UK listed property groups have announced capital raisings over the past weeks but fears are growing in the market over shareholders' ability to support these initiatives. Liberty International, the largest shopping centre owner in the UK, announced at the ...
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PropertyEU Archive
Gecina posts 9% increase in cash flow
French property group Gecina saw a 9.14% increase in its cash flow per share in 2008 and said it expects cash flow to rise by over 10% in 2009 as a result of 'an expected reduction in the average cost of debt and operating expenses, as well as an increase ...
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PropertyEU Archive
Doughty Hanson developments will weather crisis
Doughty Hanson & Co Real Estate believes its focused development programme in Europe should be able to weather the current global economic crisis as the first project is not due for delivery until next year. The Via Imbonati project in Milan will comprise 32,000 m[sup]2[/sup] of office space and 276 ...
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PropertyEU Archive
CEE hotel sector feels the pain, says CBRE
Hotel development pipeline across the CEE region remains robust, but tight lending conditions has resulted in some major projects being postponed, according to the latest CEE Hotel Market Overview issued by CB Richard Ellis Hotels. Developers are focusing on existing projects while the availability of finance remains scarce, CBRE ...
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PropertyEU Archive
Standard Life says outflows still negative but stable
Standard Life Investments, one of the UK fund managers which froze redemptions from its property funds in January, said the funds continue to register negative outflows but the situation seems to have stabilised over the past weeks. 'Outflows have eased but they are still negative,' Anne Breen, head of SLI's ...
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PropertyEU Archive
ECE teams up with pension fund to develop Oldenburg scheme
German property developer and investor ECE said it is teaming up with a pension fund of British American Tobacco (BAT) to invest EUR 115 mln in the development of a retail scheme in Oldenburg, Germany. The project is being financed by Hamburg-based Sparka. The scheme will offer 12,500 m[sup]2[/sup] of ...
