Latest reports – Page 3367
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PropertyEU Archive
Investors support launch of INREV Guidelines
More than 90% of investors in the non-listed property funds market support the implementation of the INREV Guidelines, which have been published in a new format this week. In its latest members' survey, 92% of investors looked to fund managers to adhere to the INREV Guidelines, which bring together eight ...
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PropertyEU Archive
Michael Lange leaves JLL Russia & CIS
Michael Lange, chairman of Jones Lang LaSalle Russia & CIS, has announced he intends to leave the firm after 15 years to develop his own business interests and pursue other aspirations. Lange will leave towards the end of the first quarter of this year.
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PropertyEU Archive
Prologis European Properties sells stake in PEPF II at 28% discount
Prologis European Properties has announced the completion of the sale of its remaining investment and future commitment to Prologis European Properties Fund II (PEPF II) to six institutional investors. The group raised gross proceeds of EUR 14.4 mln from the sale of its remaining 10% interest in PEPF II, and ...
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PropertyEU Archive
Bucharest's Sema Parc awaits credit thaw
The global financial crisis has brought the real estate market in Romania to a shuddering halt, but the massive multi-functional Sema Parc project in Bucharest is not under huge financial pressure internally, according to the developer River Invest.
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PropertyEU Archive
DIC Asset sells three more properties
DIC Asset said it has sold three properties in Germany for a total volume of about EUR 13 mln. The Frankfurt-based company sold a mixed-use property of some 5,000 m[sup]2[/sup] of office and retail space on Rathausplatz in Eschborn, near Frankfurt, to the Eschborn town council. Additionally, two smaller properties ...
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PropertyEU Archive
European developers face up to new valuation rules
Falling property values across Europe add complexity to a new requirement under international accounting rules for developers to value investment properties under construction at fair value rather than on a cost basis. ‘It is difficult enough assessing existing properties in the current climate where there is little transaction activity. It ...
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PropertyEU Archive
British Land to raise EUR 823m in rights issue
British Land confirmed on Thursday that it plans to raise £740 mln (EUR 823 mln) net of expenses in a 2-for-3 rights issue. The widely expected cash call by the second-largest real estate investment trust (REIT) comes days after one of its peers, Hammerson, announced a similar move.
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PropertyEU Archive
Norwegian Property reports sale of office property, hotel project
Norwegian Property has entered into an agreement to sell a 10,800-m[sup]2[/sup] office property in Oslo for NOK 324 mln (EUR 37 mln), almost EUR 2 mln above the current valuation. The buyer is Arivest AS, a company owned by the Havila Ariel group. The current external financing of the property ...
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PropertyEU Archive
Multi sees redevelopment opportunities
New developments are being frozen or cancelled on a large scale throughout Europe, but there are still opportunities for redeveloping existing assets, according to Glenn Aaronson, CEO of Multi Corporation. Speaking at a press lunch at the Mipim trade fair in Cannes, Aaronson welcomed the trend, saying it would be ...
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PropertyEU Archive
La Lucette sells assets in France for EUR 146m
Compagnie La Lucette said it has sold three assets in France for a total of EUR 146 mln. The disposals, which were carried out during the fourth quarter of the year, were in line with the company's strategy to sell mature or non strategic properties. They include the Scribe building ...
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PropertyEU Archive
Epra and Nareit become full members of Reita in UK
The European Public Real Estate Association (Epra) and the US-based National Association of Real Estate Investment Trusts (Nareit) have become full members of Reita, the educational and awareness campaign in the UK for REITs and property investment. Up to now EPRA and NAREIT had supporting organisation status with Reita. In ...
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PropertyEU Archive
Iliescu becomes joint managing director at DTZ Echinox
Oana Iliescu has been promoted to the position of joint managing director of DTZ Echinox alongside Tim Wilkinson. DTZ Echinox has been the local DTZ representative office in Romania since 2002.
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PropertyEU Archive
Spain's property values to stabilise in Q4, says Savills
Spanish commercial property prices are forecast to fall further in 2009 before stabilising around the end of the year, according to Max Gill, Savills' head of valuations in Madrid. Prime office and shopping centre properties have reported a 20-25% fall in value over the course of last year, with land ...
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PropertyEU Archive
ING RE to cut 30 jobs in Netherlands
ING Real Estate is cutting 30 jobs at offices in the Netherlands, as part of the larger re-organisation within the ING Group in which 1,000 staff are being made redundant. It has yet to be decided which positions or units will be affected at ING Real Estate, one of the ...
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PropertyEU Archive
Swiss Life buys care centres in Germany
Hochtief Projektentwicklung has sold three care facilities in Germany to insurance company Swiss Life. The two sides agreed not to disclose the financial details of the transaction.
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PropertyEU Archive
Paper group leases 19,000 m[sup]2[/sup] at Dutch distribution centre
Dutch paper and packaging firm Papyrus Groep Nederland has taken a 10-year lease on 17,000 m[sup]2[/sup] of warehouse space and 2,200 m[sup]2[/sup] of office space at the new 'De Weteringse Poort' distribution centre in the Bijsterhuizen industrial park in the town of Wijchen.
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PropertyEU Archive
IHG, Crocus Group to build world's biggest Holiday Inn in Moscow
InterContinental Hotels Group (IHG) and Crocus Group have signed a deal to build the world's biggest Holiday Inn hotel in Moscow, with an investment of more than $100 mln by Crocus Group.
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News
Investors still eye PERE for 2009
GLOBAL – Institutional investors in private equity real estate are still willing to invest in the asset class this year, albeit cautiously, and remain committed to their investment strategy going forward, suggests a survey conducted by Preqin.
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News
IPD predicts further gloom for Ireland
IRELAND – Ireland’s real estate industry has tough times ahead and is unlikely to recover any time soon, according to analysts at the SCS/IPD Annual Results presentation in Dublin this week.
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News
ING Clarion expands into the DC pensions space
UNITED STATES - ING Clarion Partners is entering the US defined contribution (DC) investor market for the first time, as officials believe there will be significant growth in the DC pensions arena.
