Latest reports – Page 3364
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PropertyEU Archive
Land Securities unveils EUR 860m cash call, resets dividend
Land Securities, the largest real estate investment trust (REIT) in the UK, revealed its plans on Thursday to raise net proceeds of £755.7 mln (EUR 860 mln) through a discounted rights issue.
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PropertyEU Archive
AXA REIM completes EUR 5.7bn of deal in 2008
AXA Real Estate Investment Managers (AXA REIM) completed EUR 5.7 bn of transactions on behalf of its clients last year. The amount falls slightly short of the planned investment volume for 2008 announced by the French fund manager at the beginning of the year - EUR 6.3 bn - but ...
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PropertyEU Archive
Estcapital to renovate Venice hotels
Italian fund manager EstCapital is teaming up with hotel group Four Seasons Hotels & Resorts to redevelop the historic Excelsior and Des Bains hotels on Venice's Lido island.
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PropertyEU Archive
UK real estate gloom brightened by opportunities - PWC/ULI
The real estate crisis is set to get worse, according to participants at a real estate seminar organised in London by PricewaterhouseCoopers and the Urban Land Institute. The event, which presented the findings of their recently published report Emerging Trends in Real Estate Europe, took the form of a panel ...
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PropertyEU Archive
Eurohypo to reposition real estate business in 2009
Eurohypo, the commercial real estate financing arm of Commerzbank Group, said it will seek to reposition its business this year with the launch of a new plan for its real estate activities. The bank, which unveiled a pre-tax loss of EUR 1.4 bn for 2008, said 'it will pay particular ...
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PropertyEU Archive
CFI closes purchase of 12 UGC cinemas
France's Compagnie Fonciere Internationale said on Thursday it has completed the acquisition of a portfolio of 11 cinemas leased to UGC Cine Cite from CNP-Assurances, as well as the purchase of a cinema in Lille from its owner and occupier UGC. The transactions were made on behald of CFI's 95%-controlled ...
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PropertyEU Archive
CAAM RE appoints new CEO and CIO
Credit Agricole Asset Management Real Estate said on Thursday that it has appointed Nicolas Simon and Nicolas Kert to the position of Chief Executive Officer (CEO) and Chief Investment Officer (CIO) respectively.
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PropertyEU Archive
Liberty International mulls equity raising
UK REIT Liberty International confirmed on Thursday that it is considering a capital raising. In a Stock Exchange announcement, Liberty said: 'The directors confirm that they are considering capital raising alternatives and any firm proposals will be communicated directly to shareholders at the appropriate time.'
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News
Pennsylvania withdraws from commingled commitments
US – The Pennsylvania Public School Employees’ Retirement System (PSERS) has pulled out of $925m (€724m) worth of real estate commitments.
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Mass PRIM reviews its REIT strategy
UNITED STATES - Massachusetts Pension Reserves Investment Management Board is planning to conduct an in-depth analysis of its real estate securities programme in 2009.
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Scandinavia real estate looks attractive, say pension funds
Scandinavia – Scandinavian funds still consider non-listed real estate an attractive investment opportunity in the medium to long-term, according to a survey by Lymos BV Real Estate Capital Advisors.
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Axa taps European housing opportunities
EUROPE – AXA Investment Managers’ German branch has launched a residential fund for institutional investors following their increased appetite for the sector.
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UK logistics traffic to hit a go-slow
UK – Demand for UK logistics could reach a record low this year and will remain subdued until at least 2010, according to Jones Lang LaSalle (JLL).
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Restructuring could save German funds - DTZ
EUROPE – German open-ended funds (GOEFs) are expected to suffer further liquidity issues in 2009 and should consider restructuring to protect themselves in the future, according to DTZ’s latest European quarterly report.
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News
Grosvenor seek urgent retail debt solution
UK – Grosvenor, the privately-owned property group, has confirmed it is in debt talks to prevent a breach in the banking contract of its retail fund.
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News
LandSecs becomes next to seek rights issue
UK – Land Securities today announced it is holding a rights issue to raise around £755.7m (€854.9m) from shareholders, making this the latest in a series of property giants proposing fundraising to strengthen their balance sheets.
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PropertyEU Archive
Sulentic named as finance chief at CBRE
Global property adviser CB Richard Ellis has named Robert Sulentic as the company's new chief financial officer. CBRE described Sulentic as a seasoned industry veteran who combined public company corporate finance experience with an indepth understanding of the company's global operations.
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PropertyEU Archive
Dividend rule could hit 'workability' of UK REITs, says law firm
The listed real estate industry in the UK has been dealt a fresh blow by a recent government decision not to allow real estate investment trusts (REITs) to pay dividend in stock rather than cash, according to law firm Pinsent Masons.
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PropertyEU Archive
American retail brands to increase focus on Western and Southern Europe
Western and Southern Europe will become more attractive to North American brands seeking to expand internationally in 2009, according to new retail research from real estate advisor Jones Lang LaSalle.
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PropertyEU Archive
Hewlett-Packard sells office property in Germany
Hewlett-Packard Immobilien has sold an office property in the Echterdingen business park in Leinfelden-Echterdingen, Germany, to unnamed private investors. The financial details were not disclosed.
