Latest reports – Page 3372
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PropertyEU Archive
JLL sees Q4 profit slide 60%
Global property adviser Jones Lang LaSalle reported net income of $41.5 mln (EUR 32.2 mln) in the final quarter of 2008, down 60.6% on the $105.4 mln booked in the year-earlier period as property markets worldwide took a beating from the credit crisis. Per share, profit fell to $1.17 from ...
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PropertyEU Archive
Private investor buys Madrid office building for EUR 23m
An unnamed private investor has purchased an office building in Madrid's Cristalia Business Park for EUR 23 mln from Spanish real estate agent Inmoseguros, broker Savills, who advised the buyer, said on Wednesday. The deal reflects an initial yield of 6.5% triple net.
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PropertyEU Archive
Hochtief secures another tenant for Altezza project
Hochtief Projektentwicklung has announced that German bank Deutsche Apotheker- und Arztebank is to occupy 3,300 m[sup]2[/sup] of space at the Altezza project in Munich.
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PropertyEU Archive
Plaza buys controlling stake in Sofia project
Plaza Centers, the emerging markets property developer, has acquired a controlling stake in a 75,000 m[sup]2[/sup] office and retail project in Sofia, Bulgaria. Plaza is paying for the 51% stake with just under EUR 2.8 mln in cash and the assumption of EUR 4.4 mln of debt, representing 51% of ...
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PropertyEU Archive
Czech mall space doubles in five years
The Czech Republic boasts 1.8 million m[sup]2[/sup] of modern shopping centre space, thanks to a near doubling of the total supply since the beginning of 2004, according to a new report from CB Richard Ellis.
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PropertyEU Archive
ULI launches drive to close investment gap in European cities
The Urban Land Institute (ULI) and the development business of ING Real Estate are launching an initiative to tackle the shortage of investment to finance the development of leading cities in Europe. ULI's Urban Investment Network (UIN) and its launch report entitled 'Closing the Investment Gap in Europe's Cities' are ...
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PropertyEU Archive
New spokesman at German rescue fund Soffin
Hannes Rehm, 65, has been appointed the new management committee spokesman of Germany's financial market stabilisation fund Soffin, launched last October to overcome liquidity problems at financial services companies hit by the credit crisis.
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PropertyEU Archive
Atisreal to rebrand as BNP Paribas Real Estate
International property adviser Atisreal is dropping its independent name and rebranding to reflect that it is part of BNP Paribas' real estate arm. The name change to BNP Paribas Real Estate will be completed by end-June this year.
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PropertyEU Archive
German RE professionals perk up slightly - King Sturge
The German real estate industry has put its best foot forward in 2009, leading to a slight but noteworthy increase in King Sturge's survey-based Real Estate Climate metric for the first time in six months. The Real Estate Climate component of the broker's Real Estate Economy index showed a slight ...
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PropertyEU Archive
Scottish Widows re-imposes lockdown on EUR 660m property vehicle
Scottish Widows has become the latest fund manager in the UK to impose a ban on redemptions from a property fund to safeguard the vehicle's financial position. In an emailed statement, Scottish Widows said it was re-introducing a 180-day delay on withdrawals and switching from its EUR 660 mln Life ...
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PropertyEU Archive
SEB mulls capital increase
Swedish bank SEB has confirmed speculation that it is considering boosting its financial position through a share issue. The bank, which is a significant property financier, said that such a move would be undertaken with the support of its core shareholders but stressed that no decision has yet been taken.
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PropertyEU Archive
CBRE expands retail capacity in Russia
International broker CB Richard Ellis has signed an affiliate agreement with Magazin Magazinov, one of Russia's premier retail property services companies. CBRE said the agreement expands its retail offering in Europe further following the acquisition of retail specialists Espansione Commerciale in Italy and C&T Retail in Belgium.
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PropertyEU Archive
Annual property derivatives trading volumes remain robust, says IPD
The total volume of IPD Index Property Derivatives traded over the final quarter of 2008 was slightly down on the previous quarter, falling to £1.03 bn (EUR 1.15 bn), according to data released on Monday by Investment Property Databank (IPD). Annual volumes held up exceptionally well with £7.73 bn worth ...
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PropertyEU Archive
Westfield unveils A$2.9 bn share issue
Australian shopping centre developer Westfield said on Tuesday it was launching a fully underwritten placement of new shares to raise A$2.9 bn (EUR 1.4 bn) to reduce its debt levels.
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PropertyEU Archive
C&W forms distressed property work-out team
Cushman & Wakefield has announced the formation of an interdisciplinary team of real estate professionals to help property owners in Europe who have run into difficulties due to the financial crisis.
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PropertyEU Archive
UK PPFs saw net outflow of £500m in 2008
Pooled property funds (PPFs) in the UK continued to leak money in 2008 but the rate of redemptions appeared to slow in the final three months, according to the Association of Real Estate Funds (AREF). The association's ninth Investment Quarterly report show the PPF sector experienced a net outflow of ...
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News
Lack of debt to present "challenge" for 2009
EUROPE – European real estate investors expect 2009 to be a challenging year for equity and debt markets, according to the latest sentiment report by PricewaterhouseCoopers and the Urban Land Institute (ULI).
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News
C-Reits could lift Chinese economy - APREA
CHINA – Chinese Real Estate Investment Trusts (REITs) could play a vital part in helping the country’s real estate markets recover from the economic crisis, according to the Asian Public Real Estate Association (APREA).
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News
Cohen & Steers predicts “outstanding” returns…in time
GLOBAL – Cohen & Steers, the US investment firm specialising in real estate, remains confident that the majority of global listed real estate companies will weather the economic crisis despite the poor lending environment, according to its latest Review and outlook for the international real estate markets.
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News
Real estate derivatives go online
US – International Real Estate Securities Exchange Inc. (IRESE) has launched what it describes as the first online real estate-only securities and derivatives exchange.
