Latest reports – Page 3376
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PropertyEU Archive
BNL fund forced to sell off EUR 260m of assets
BNL Fondi Immobiliare said on Tuesday that it will go ahead with the disposal of EUR 260 mln of assets owned by its listed closed-end fund Portfolio Immobiliare Crescita fund after the Bank of Italy rejected a plea to extend the life of the fund due to the difficult market ...
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PropertyEU Archive
Hilton begins major expansion in Turkey
Hilton Hotels Corporation has signed a non-exclusive strategic agreement with Turkish developer Kosifler Group to build about 25 new hotels in key regional locations in Turkey.
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News
Progress to sell property for unlisted strategy
NETHERLANDS - The Dutch pension fund of food giant Unilever will sell its entire Dutch direct property portfolio, and switch its real estate investment strategy to unlisted international real estate funds.
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PropertyEU Archive
Hermes RE unveils management changes
Property fund manager Hermes Real Estate has unveiled a series of management changes aimed at expanding its real estate activites. The group said it has appointed Steven Grahame as chief investment officer of the new Alternative business unit, which will focus on investment in real estate debt, equities and derivatives. ...
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PropertyEU Archive
Richard Bains joins Rockspring as fund manager
Rockspring Property Investment Managers has appointed Richard Bains as fund manager. Based in London Bains will report to fund director, Neal Shegog.
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PropertyEU Archive
Henderson sets its sights on New Star
UK asset manager Henderson Group has indicated that it is interested in acquiring ailing fund management firm New Star. Responding to newspaper reports, Henderson confirmed it is in discussions with New Star 'regarding a possible transaction, including a possible offer for New Star'. But Henderson cautioned there was no certainty ...
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PropertyEU Archive
European property investment falls 61% in 2008 says Atisreal
European commercial property investment fell 61% in 2008, while offices take-up dropped 19%, according to the latest European market indices report issued by Atisreal. The report, which measures prime data across seven major European cities, said that prime yields across Europe have continued to rise since the summer and there ...
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PropertyEU Archive
ING unveils EUR 600m writedowns on real estate
Dutch financial giant ING said on Monday that it expects to post real estate writedowns of EUR 600 mln in the fourth quarter, accounting for half of the group's total real estate writedowns for the full year (EUR 1.2 bn). The correction in the value of its real estate was ...
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PropertyEU Archive
IVSC to issue guidance on valuing property under construction
The International Valuation Standards Council (IVSC) has announced it is to issue guidance on how to measure the value of investment property under construction. London-based IVSC is to issue a discussion document with a draft guidance in the second quarter of 2009. To bridge the gap in the meantime the ...
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PropertyEU Archive
Warburg - Henderson acquires retail warehouse in Austria
Hamburg-based Warburg - Henderson has acquired the new Telfspark in Tyrol for about EUR 18 mln on behalf of the joint venture's Osterreich Fonds Nr. 1. The retail warehouse centre, situated directly adjacent to Autobahn A12, was opened in September 2008. It has a lettable area of around 9,400 m[sup]2[/sup] ...
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PropertyEU Archive
Prologis leases 423,000 sq ft in Western Germany
Prologis, the global provider of distribution facilities, announced on Monday that it has leased 423,000 sq ft (40,000 m2) of recently completed distribution space in western Germany to LGI Logistics Group International, a subsidiary of the Willi Betz Group and one of Germany's largest providers of third-party logistics services.
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PropertyEU Archive
Norwegian Property names new CFO
Norwegian Property has appointed Mari Thjomoe to the position of chief financial officer (CFO). Thjomoe has broad experience in accounting and finance, recently as executive vice president and CFO of KLP, one of Norway's largest players within life insurance and pension funds. At KLP her responsibilities also included the group's ...
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PropertyEU Archive
Hypo RE concludes management reshuffle
Hypo Real Estate Group announced a raft of appointments and resignations on Monday which conclude the re-organisation of its management structure. The restructuring began in October last year when the troubled property financier was saved from collapse by a EUR 50 bn public-private bailout. Germany's bank rescue fund SoFFin has ...
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PropertyEU Archive
Jelmoli shareholders back creation of listed property arm
Zurich-based retail and property group Jelmoli Holding is to spin off its real estate activities into a separate listed company. Shareholders backed the board's proposal to create two focused listed entities, one for investment and one for real estate, during an extraordinary general meeting last week.
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News
Hermes' Evans moves into new role
GLOBAL – Hermes, the pension fund manager owned by the BT Pension Scheme, has reshuffled its property team as part of a new strategy that will focus on investing in debt and listed company shares.
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News
AIG puts real estate house on the market
US - AIG Global Real Estate has today announced the $12.4bn (€9.4bn) fund management business has been put up for sale, as part of the American International Group’s (AIG’s) divestment programme set out at the end of last year.
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News
Warburg-Henderson grows institutional client base
GERMANY – German real estate company Warburg-Henderson has launched a Master KAG subsidiary and already won its first client.
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News
Inflows see DEGI alter redemptions ban
GLOBAL – Deutsche Gesellschaft für Immobilienfonds mbH (DEGI), the German-based property investors, has announced it will end the suspension of redemptions from its DEGI International Fund at the end of this month following new capital inflows into the fund.
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News
Central London property presents a challenge - JLL
UK – Investment levels across Central London fell by 66% last year and could lead to “one of the most challenging years on record” for real estate take-up in the capital, according to Jones Lang LaSalle’s latest Central London report.
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News
UBS unwinds real estate secs team
SWITZERLAND – UBS, the Zurich-based bank, is to close its real estate and securitisation business and cut more jobs, following plans to downsize its fixed-income unit.
