Latest reports – Page 3374
-
PropertyEU Archive
Kempen & Co. halts hedge fund activities
Amsterdam-based investment bank Kempen and Co. has decided to terminate its property hedge fund following significant losses last year, Paul Gerla, director investment management, told Dutch financial daily het Financieele Dagblad.
-
PropertyEU Archive
Aedes asks for extension on debt restructuring
Italy's troubled property company Aedes Immobiliare said on Friday that it has requested an extension from a consortium of potential bidders to reach an agreement with creditor banks on a restructuring of its debt. The property developer, which in early December announced that it had received a bid from a ...
-
PropertyEU Archive
AEW Europe OPCIs in EUR 360m spending spree
French fund manager AEW Europe, on behalf of its Foncière Ecureuil OPCI investment vehicle, has acquired a portfolio consisting of 45 retail, office, and logistics properties for around EUR 280 mln. The assets were sold by French banking giant Caisses d’Epargne at the end of December. The Ecureuil OPCI is ...
-
PropertyEU Archive
Non-listed funds sector awaits recovery in 2010-11
The number of investors planning to increase their allocation to non-listed real estate funds in Europe has dropped to its lowest level in five years as the effects of the global financial crisis continues to ripple through the property sector.
-
PropertyEU Archive
CEE office demand to fall in 2009, says CBRE
Central & Eastern European (CEE) office markets continued to perform strongly in 2008 despite deteriorating economic conditions, but demand is likely to fall this year as occupiers process the effects of the current economic situation, according to CB Richard Ellis' CEE Offices MarketView Full Year 2008 report.
-
PropertyEU Archive
IFM Group strengthens management team
IFM Immobilien, an investor and project developer in commercial properties, has appointed Tobias Sauerbier as an additional managing director of its subsidiary IFM Asset Management. In his new capacity, Sauerbier will have particular responsibility for project development and project management, the company said in a press release.
-
PropertyEU Archive
Morgan Stanley vacates space at Canary Wharf
Morgan Stanley is to vacate a quarter of its office space at Canary Wharf from February 2010, Songbird Estates confirmed on Friday. In a press release, the company said that its subsidiary, Canary Wharf Group (CWG), has received notice from Morgan Stanley that it would on that date exercise the ...
-
PropertyEU Archive
PEPR appoints new CEO
Prologis European Properties, one of Europe's largest owners of modern distribution facilities, said on Thursday that it has appointed Peter Cassells, its current chief financial officer, to the post of chief executive officer per February 2, 2009. He will succeed Gordon Keiser, who has announced his retirement.
-
PropertyEU Archive
WDP acquires 3 Belgian assets for EUR 30m
Warehousing group WDP has expanded its Belgian portfolio with the acquisition of three logistics sites from DHL's parent company Deutsche Post for a total of nearly EUR 30 mln. The all-share transaction reflects a gross yield of 8.7%. The sites, with a total area of 85,000 m2, will be leased ...
-
PropertyEU Archive
Helaba opens offices in Berlin and Munich
Germany's regional bank Helaba Landesbank Hessen-Thüringen said on Thursday that it will open two offices in Berlin and Munich in January and February this year. The decision is part of the company's strategy aimed at expanding its domestic real estate business.
-
PropertyEU Archive
CBRE launches new debt advisory office in Germany
Global property consultant CB Richard Ellis said that it is expanding its debt advisory business with the opening of a new German office. The group has named Dirk Richolt (38) as head of the new business. He has over 12 years of experience in real estate finance and is joining ...
-
PropertyEU Archive
Nexity sells Credit Foncier stake to CNCE for EUR 540m
France's Nexity said on Friday that it has completed the sale of its 23.4% stake in Credit Foncier de France to banking group Caisse Nationale des Caisses d’Epargne. Nexity announced in December it was in talks with CNCE to sell the asset. The transaction amount comes to a total of ...
-
PropertyEU Archive
Sansedoni sells office building for EUR 20m
Italian real estate firm Sansedoni has sold a property in Milan for a total of EUR 20 mln. In a statement on Friday, the group said it has signed a preliminary agreement with Baumann, a company controlled by Italian businessman Pietro Zanzucchi, to sell a 5,000 m[sup]2[/sup] office building. The ...
-
News
New Jersey changes strategy with commingled capital
UNITED STATES - New Jersey Division of Investment has decided to shift $250m (€190.5m) worth of commitments planned for commingled funds into different investment opportunities on the back of market performance worries.
-
News
Los Angeles City alters hotel booking
UNITED STATES - Los Angeles City Employees’ Retirement System has asked Integrated Capital to change the agreement it made concerning the Capital Hospitality fund so it can go ahead with investment plans.
-
News
North Carolina warns on real estate holdings
US – The North Carolina Retirement System lost $17bn (€12.8bn) in value in 2008 and is bracing itself for a steeper decline in real estate values, the Department of State Treasurer announced on Friday.
-
News
Standard Life halts redemptions
UK – Standard Life, the UK insurance company, has delayed redemptions from six commercial property funds worth £2.7bn (€2.9bn) as a result of the slowdown in property transactions.
-
News
UK local government pays tax on its own empty buildings
UK – British councils are paying a whopping £690m (€745m) in business rates on their empty properties, the Business Centre Association revealed this week.
-
News
Arkansas searches property management
US – The $8.4bn Arkansas Teacher Retirement System (ATRS) it is looking to appoint a real estate manager to manage a $140m (€107m) property portfolio.
-
News
Economic freeze hits Alaska’s investments
US – The Alaska Permanent Fund Corporation’s (APFC’s) real estate portfolio performed better than other assets but has still contributed to the fund’s $4.2bn (€3.2bn) drop in value in the second quarter of fiscal year 2009.
