Latest reports – Page 3368
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News
NYSTRS ends REIT relationship with Citigroup
UNITED STATES - New York State Teachers Retirement System has ended an arrangement with Citigroup Alternative Investments as the REIT manager is pulling out of this space.
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News
Property investment slumped €335bn last year
GLOBAL - Global investment in commercial property plummeted 59% to $435bn (€335bn) in 2008 and is likely to fall further in 2009, according to Cushman & Wakefield’s Investment Atlas 2009 analysis.
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News
ProLogis sells remainder of PEPF II
EUROPE – ProLogis European Properties (PEPR) has decided to sell its one-third stake in the ProLogis European Properties Fund (PEPF) II to further de-leverage the firm.
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News
British Land halves Meadowhall stake ahead of rights issue
UK – The British Land Company has exchanged contracts with London & Stamford Property to sell a 50% interest in the freehold of the Meadowhall Shopping Centre near Sheffield, but it is also raising additional funds through a £740m (€819.49m) rights issue.
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News
Demands spark student accommodation drive
UK – Coral Portfolio and Strutt & Parker Real Estate Financial Services (SPREFS) are launching a student accommodation fund in response to strong market demand.
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News
Klépierre rolls on with real estate sale
FRANCE – Klépierre, the French real estate investment company, will continue its disposal programme to boost liquidity and expects positive growth in 2009, executives announced yesterday.
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News
Market conditions bite into CBRE’s business
GLOBAL – CB Richard Ellis (CBRE) will continue trying to reduce expenses this year as net income plummeted to $83.9m (€65.37m) in 2008 compared to $390.5m recorded the previous year.
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PropertyEU Archive
CBRE's earnings drop 94% in Q4
CB Richard Ellis, the global property services firm, posted net income of $6.5 bn (EUR 5 bn) or earnings per share of $0.03 in the fourth quarter of 2008, a 94% drop on the same period a year before ($0.54) and down 92% on the full-year figure ($0.37). Fourth-quarter revenue ...
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PropertyEU Archive
King Sturge opens office in Bulgaria
Property adviser King Sturge has opened a representative office in the Bulgarian capital Sofia. The wholly-owned King Sturge office will, in the first instance, concentrate on supporting a number of existing projects, building on work already carried out in Bulgaria from the firm's offices in Romania and Hungary. These include ...
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PropertyEU Archive
CBRE appoints directors in Central and Eastern Europe
CB Richard Ellis has announced the promotion of Pavel Schanka and Patrick O'Gorman to the position of directors for CEE Capital Markets. In addition, Jos Tromp has been named director for CEE Research and Consulting.
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PropertyEU Archive
Savills sets up new sale-and-leaseback team in France
Savills is launching a new team in France focused on sale-and-leaseback transactions. The international property services firm said that the new group, which is part of the investment department headed by Pascal Rupert, was set up in response to a growing need among corporate entities serviced by Savills to raise ...
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PropertyEU Archive
Pirelli RE to launch EUR 400m capital increase
Italy's Pirelli Real Estate will launch a capital increase of up to EUR 400 mln as part of its 2009-2011 industrial plan aimed at nearly doubling its profit margin over the next three years. Pirelli & Co, which controls over 55% of Pirelli Real Estate, said on Wednesday that it ...
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PropertyEU Archive
Treveria appoints three new directors
Treveria, the German-focused retail property investor, has announced the appointments of Nicholas Cournoyer, Rolf Elgeti and Michael Neuburger as non-executive directors. The appointments follow the completion of a strategic review by the AIM-listed company last year aimed at stabilising its management structure. At that time, Manfred Maus had indicated his ...
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PropertyEU Archive
DTZ hires directors from Barclays
Property adviser DTZ has appointed Bob Rickert as global chief operating officer (COO) and Isaac Krymolowski as global head of Consulting & Research. Both will join DTZ within the first quarter and report directly to Group CEO Paul Idzik. They will both sit on the newly created Group Executive Committee.
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PropertyEU Archive
Sonae Sierra wins European Commission sustainability award
Portuguese shopping centre developer Sonae Sierra has won the Sustainable Energy Europe Award (SEE), a European Commission initiative that acknowledges the most innovative companies in the area of energy sustainability in Europe.
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PropertyEU Archive
AXA REIM expands in the Nordics
AXA Real Estate Investment Managers (AXA REIM) has acquired two retail assets in Sweden for about SEK 1.2 bn (EUR 111 mln). Acting on behalf of its AXA Immoselect open-ended fund, AXA REIM bought a retail park located in Malmo from Stora Bernstorp. The complex, offering 37,000 m[sup]2[/sup] of space, ...
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PropertyEU Archive
Hypo gets further EUR 10bn guarantee from Soffin
Troubled German property financier Hypo Real Estate has been granted a further EUR 10 bn in loan guarantees by the German bank rescue fund Soffin. The guarantee expires on 12 June 2009.
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PropertyEU Archive
Deutsche Land rejects Prostar approach
AIM-listed Deutsche Land has again rejected a potential takeover approach from Prostar Germany as being too low. Prostar is headed by Jonathan Elkington, a co-founder and former director of Deutsche Land.
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PropertyEU Archive
Klepierre to keep 2008 dividend at EUR 1.25
The board of Klepierre has proposed a dividend payout of EUR 1.25 per share for 2008, equal to the 2007 level. The French real estate group, which operates in the office and shopping centre sectors, reported consolidated net earnings of EUR 233.9 mln, total share, and a group share of ...
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PropertyEU Archive
Occupier sales account for 20% of European transactions in 2008
Sales of commercial real estate by occupiers accounted for almost 20% of the European investment market last year, and will remain an important part of the weakened market in 2009, CB Richard Ellis has said.
