Latest reports – Page 3365
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PropertyEU Archive
European transactions down 53% in 2008 - CBRE
There are signs of some investor interest in property markets where yields have moved out sharply, but it is to early to predict a recovery of transaction volumes, CB Richard Ellis has said.
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PropertyEU Archive
HSH Nordbank winds down property business
HSH Nordbank intends to close down its real estate activities in Western Europe and the US as part of a major restructuring triggered by financial losses. The regional German financier presented a draft plan this week aimed at rebuilding its battered capital position. A decision on various proposals in the ...
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PropertyEU Archive
WestImmo appoints new head of London unit
WestLB's real estate finance arm, WestImmo, said on Tuesday that it has appointed Peter Denton as the new head of its London office with effect from 4 March 2009.
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PropertyEU Archive
Segro, Brixton considering equity raisings
UK industrial property firms Segro and Brixton confirmed on Wednesday they are both considering a range of options, including equity raisings, to shore up their balance sheets.
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PropertyEU Archive
Orco axes 220 jobs, plans to sell non-core assets
Some 220 staff have been made redundant at Orco Property Group since the launch of a major restructuring programme. The job cuts represent just under 10% of the group's workforce.
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PropertyEU Archive
Russia to cut EUR 6.5bn from Winter Olympics budget
The Russian government is cutting the budget for the 2014 Winter Olympics in the Black Sea resort of Sochi by EUR 6.5 bn, the state news agency RIA Novosti has reported.
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PropertyEU Archive
Vinci launches new developments in Paris
French construction giant Vinci Immobilier has kicked off the development of a mixed-use complex in the 13th arrondissement of Paris. The project is located in the new Rive Gauche district of Paris and will consist of 13,500 m[sup]2[/sup] of retail and office space. The site was bought from Semapa, a ...
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PropertyEU Archive
Matrix fund sells York-Center for EUR 28m
UK property fund management group Matrix, on behalf of its Matrix German Portfolio No. 1 fund, has reportedly sold the York-Center building in the German state of Munster for close to EUR 28 mln. According to reports in several German publications, the complex has been acquired by a fund managed ...
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PropertyEU Archive
Lenders to take over Esporta
French bank Societe Generale is reportedly in the process of a debt-for-equity swap in which it will acquire fitness club operator Esporta. The bank, which was taken over by property entrepreneur Simon Halabi for £476 mln (EUR 538 mln) in 2006 in a deal backed by Societe Generale, is to ...
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PropertyEU Archive
AXA IM launches EUR 1.8b residential fund
AXA Investment Managers has created a new investment fund for institutional investors focused on residential properties. The company said its Immoresidential vehicle has a target size of up to EUR 1.8 bn and will be managed by Ulf Harald Koepke. 'Institutional investors' interest in housing units has grown noticeably on ...
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PropertyEU Archive
CBRE clarifies debt ratio figures
CB Richard Ellis (CBRE) has rejected estimates of net debt and interest cover quoted by Moody's in its downgrading of the rating on the international property adviser's senior debt to Ba2 from Ba1.
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PropertyEU Archive
Euro Ejendomme set to launch new hotel fund
Danish property group Euro Ejendomme has received the green light for the launch of a new hotel investment fund for institutional investors targeting a size of EUR 500 mln. The Luxembourg-registered vehicle will invest in two to four star business hotels and will have initial capital of EUR 200 mln ...
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PropertyEU Archive
DTZ finance chief steps down
Global real estate adviser DTZ has announced that Colin Child is stepping down as Finance Director from August 2009. He joined the group in October 2007. Child will manage the preparation of the final results for the financial year to 30 April 2009 and assist in an orderly transition to ...
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PropertyEU Archive
Santander seeks to freeze Banif fund
Spanish bank Santander said on Monday it is has requested a freeze on payouts from Spain's largest real estate fund, Banif, after investors sought to withdraw 80% of the vehicle's capital. In a regulatory statement to Spanish stock market regulator CNMV, the bank said its Banif Inmobiliario investment fund is ...
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PropertyEU Archive
Monceau spends EUR 38m in Paris
French insurance group Monceau has acquired 5,613 m[sup]2[/sup] of office space in the seventh arrondissement of Paris. The transaction amount comes to EUR 38 mln. The property was sold by the private pension fund for doctors Caisse autonome de retraite des médecins de France. CB Richard Ellis advised the buyer ...
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PropertyEU Archive
DTZ sees window of opportunity as market approaches fair value
Global property adviser DTZ expects a substantial return of equity-rich investors to the market in the latter part of 2009, associated with some recovery in European investment market turnover. In its latest European Quarterly research, the broker said the recent shifts in yields and falls in capital values means the ...
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PropertyEU Archive
Henderson confirms acquisition of Italian retail outlet for EUR 125m
Henderson Global Investors has confirmed the acquisition of the Barberino designer outlet centre near Florence, Italy, for EUR 125 mln. The transaction, which was reported by PropertyEU on February 11, was made on behalf of the European Outlet Mall investment fund. Opened in March 2006, the Barberino scheme currently comprises ...
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News
Mercer buys Callan to create consulting giant
UNITED STATES – Callan Associates, the San Francisco-headquartered consultant to major investors such as US pension funds, is being bought by rival firm Mercer to create one of the largest investment consulting businesses in the US.
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PropertyEU Archive
Top 5 investment deals, 9-13 February 2009
The largest real estate investment transaction reported by PropertyEU between 9 - 13 February 2009 was the sale by British Land of a 50% stake in its Meadowhall shopping centre for £588 mln (EUR 673 mln) to AIM-listed property investor London & Stamford and a partner.
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PropertyEU Archive
CBRE Investors launches two office projects in France
CB Richard Ellis Investors announced on Monday that it has launched two office developments in Montevrain, France, with a total surface area of 24,500 m[sup]2[/sup].
