Latest reports – Page 3373
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News
Spain to see second property giant collapse
SPAIN – Nozar, a major property company in Spain, is on the brink of going into administration with debts of over €4bn, which could make it the second- largest corporate default in the country.
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News
Pramerica expands mezzanine position
EUROPE – Prudential Real Estate Investors (PREI) has hired a team of real estate financers to build a commercial property mezzanine platform in Europe to take advantage of immediate opportunities created by the volatile markets.
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PropertyEU Archive
IVG places EuroSelect 16 with EUR 248m subscribed
The IVG Funds division of German listed IVG Immobilien has announced that it has fully placed its closed-end real estate fund EuroSelect 16 The Square.
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PropertyEU Archive
Benson Elliot raises over EUR 500m for second European vehicle
Benson Elliot Capital Management has closed its second pan-European fund, Benson Elliot Real Estate Partners III (BEREP III), with subscribed capital to date of EUR 510 mln.
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PropertyEU Archive
Delek Belron mulls offer for AIM-listed subsidiary
Delek Belron International, a wholly owned subsidiary of Israeli firm Delek Real Estate, has confirmed that it has made an initial non-binding approach for Delek Global Real Estate (DGRE).
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PropertyEU Archive
Helaba Bank gets EUR 480m capital injection
The German state of Hesse has confirmed that Helaba Bank is getting a capital injection of EUR 480 mln, even though the bank says it expects to break even for the full-year 2008.
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PropertyEU Archive
Henderson to acquire New Star for EUR 128m
UK fund manager Henderson Group is acquiring its troubled peer New Star Asset Management for a total of £115 mln (EUR 128 mln). Henderson, which will raise £65 mln from a share issue to finance the deal, said it expects to become the 5th largest UK retail fund manager with ...
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PropertyEU Archive
Deka fund buys Sainsbury depot for EUR 73m
Deka Immobilien has announced the acquisition of a logistics facility in the UK from retailer Sainsbury's for around EUR 73 mln. The property located in Enfield, about 25 km from London, comprises 58,000 m[sup]2[/sup] of warehousing space and around 6,300 m[sup]2[/sup] of office space. Deka said the asset was purchased ...
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PropertyEU Archive
Five years of UK capital growth eroded in 18 months, says IPD
All Property UK commercial property capital values fell by a record -14.4% over the fourth quarter last year, giving an annual decline of -26.4%, according to the IPD UK Quarterly Property Index Q4 2008. Total returns fell by -13.0% over the final quarter and by -22.1% over the full year.
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PropertyEU Archive
Industry hunkers down for 'difficult' 2009 - ULI
European real estate professionals are bracing themselves for a 'very difficult' year ahead, according to the report Emerging Trends in Real Estate Europe 2009.
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PropertyEU Archive
Moorfield unveils EUR 390 partnership to target distressed retail
London-based fund manager Moorfield Group has unveiled a new partnership to deploy up to £350 mln (almost EUR 390 mln) over the coming months in distressed retail property situations in the UK. Moorfield said it has teamed up with shopping centre asset manager Plus Shops and retail property agency Kitchen ...
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PropertyEU Archive
GPR 250 Europe starts the year in the red
The new year has not heralded a recovery for listed real estate companies in Europe as the GPR 250 Europe index recorded a 8% loss for the first month of 2009. There was brighter news, however, on a country level. Austria was the best performer with +24.7%. Italy was in ...
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PropertyEU Archive
London & Stamford closes purchase of London's One Fleet
AIM-listed property investment company London & Stamford (L&S) said on Thursday it has completed the acquisition of One Fleet Place, EC4, London from Legal & General Assurance for £74 mln (EUR 80 mln). The deal was first announced at the beginning of January.
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PropertyEU Archive
Klepierre to sell EUR 1 bn of property
French listed property group Klépierre has unveiled plans to sell off EUR 1 bn worth of properties as it seeks to deleverage its business after posting solid results in 2009. The 'extensive disposal programme' will involve both office and shopping centers properties, the group said on Thursday. The asset sales ...
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PropertyEU Archive
Provast, Bemog sell Emmeloord project to Altera
Dutch developers Provast and Bemog Projektontwikkeling have signed an agreement to sell the cinema and the commercial space at the Emmeloord Centrum project in Noordoostpolder, the Netherlands, to Altera Vastgoed for EUR 50 mln. The project, for a total investment of EUR 85 mln, consists of 10,000 m[sup]2[/sup] of retail ...
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PropertyEU Archive
Pramerica sets up London team to invest in European real estate debt
Pramerica Real Estate Investors, the US investment manager with $47 bn (EUR 35.8 bn) of assets worldwide, is expanding its real estate finance activities with the launch of a new team based in London which will invest in commercial real estate mezzanine structures across Europe. Prudential Financial's management arm said ...
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PropertyEU Archive
Investment volume plunges 80% in Hungary
Property investment volumes in Hungary plunged 80% in 2008 to EUR 409 mln, real estate adviser DTZ said in a new report. Major transactions in 2008 included GLL' s EUR 130 mln purchase of Bank Center and UniImmo Global’s EUR 60 mln acquisition of Krisztina Palace. The main industrial transaction ...
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PropertyEU Archive
Orion fund buys 7.25% stake in SFL
The Luxembourg fund Orion III European 3 has acquired over 3 million shares, representing a 7.25% stake in the French SIIC Societe Fonciere Lyonnaise (SFL). As a result, the company complies now with the French SIICs' shareholding limit of 60%. Orion III European 3 is managed by the European real ...
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PropertyEU Archive
Immobilière Frey invests EUR 25m in Madrid retail park
Frey Invest, the Spanish arm of Paris-listed Immobilière Frey, announced on Thursday that construction work has started on its Parla Natura retail park in the southern outskirts of Madrid. The project, which is 100%-financed and leased, is Frey´s second development in Spain, and will add to the El Golf retail ...
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PropertyEU Archive
Degi Europa sells retail property in Mainz
Degi, part of Aberdeen Property Investors, has sold a retail property belonging to the portfolio of its Degi Europa open-end property fund. The price is believed to be around EUR 50 mln. In a statement on Thursday, the company said that the purchase price matches its market value. The property ...
