Latest reports – Page 3382
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News
Aberdeen predicts UK property bounceback
UK – Institutional investors, including UK pension funds, are likely to tap into the UK property market for attractive opportunities by the end of this year, according to Aberdeen Property Investors’ UK Property Snapshot.
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News
AREF appoints new chair
UK – The Association of Real Estate Funds (AREF) has appointed Bill Hughes, managing director of Legal & General Property, as its new chairman.
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News
Japan real estate confirmed as falling year-on-year
JAPAN – Japanese real estate has delivered its first negative year-on-year capital returns, according to figures released by the Investment Property Databank (IPD) which run to the end of the third quarter 2008.
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News
Purdon arrival to drive AREIT growth
MIDDLE EAST – AREIT Management Limited, manager of the Arabian Real Estate Investment Trust (AREIT), has appointed Chris Purdon as chief investment officer (CIO) as part of the firm’s plans to tap iopportunities in the Middle East region.
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PropertyEU Archive
Anglo Irish 'could face EUR 450m writedowns'
Anglo Irish Bank, which is being nationalised, may have to write down the value of its commercial property loan book by as much as EUR 450 mln following a legal ruling in Ireland.
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PropertyEU Archive
IHG to add 20 new Holiday Inns in Germany
InterContinental Hotels Group (IHG) has signed a franchise agreement with Foremost Hospitality to introduce 20 new Holiday Inn and Holiday Inn Express hotels in Germany by 2016.
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PropertyEU Archive
ICSC reports strong increase in European membership
The International Council of Shopping Centers Europe has reported an increase of almost 40% in membership numbers over the last year, making it the fastest growing region of ICSC between 2007 and 2008.
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PropertyEU Archive
FdR signs big lease at La Defense tower
Fonciere des Regions has announced that French water treatment firm Suez Environment is to lease 42,000 m[sup]2[/sup] of space at the CB 21 Tower in La Defense business district in Paris. 'This transaction is excellent news for the office market and it confirms the attractiveness of La Defense to leading ...
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PropertyEU Archive
Fall in UK commercial property capital values continues: IPD
UK commercial property returns ended 2008 at -5.3% in December, according to the IPD UK Monthly Index. December saw a third consecutive record capital value fall, this time by -5.8%. The final monthly figure brings All Property capital value declines over 2008 to -27.1%, while the overall peak-to-trough decline - ...
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PropertyEU Archive
Doughty Hanson names head of Nordic team
European real estate fund manager Doughty Hanson & Co Real Estate has appointed Anders Tagt as a principal and head of its Nordic team. Tagt, who is based in the firm's Stockholm office, joins Doughty Hanson following seven years at Hypo Real Estate Bank International. He served as a senior ...
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PropertyEU Archive
Top 5 deals, Week 3 (12 - 16 January 2009)
The largest real estate investment transaction reported by PropertyEU between 12 - 16 January 2009 was the acquisition by French fund manager BNP Paribas REIM of logistics and office properties in France for a total of EUR 229 mln.
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PropertyEU Archive
Union Investment receives DGNB certs for three buildings
Union Investment Real Estate has said that three buildings from portfolios it manages are among the first in Germany to be awarded certification by the German Sustainable Building Council (DGNB).
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PropertyEU Archive
Vila Sol to invest EUR 186m in Portuguese tourist resorts
Portuguese tourist group Vila Sol has signed two public private partnership projects with the municipality of Alijo in Northern Portugal to develop two resorts in the Douro region of Porgual. The company will invest up to EUR 186.5 mln in these projects, which include the development of two hotels with ...
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PropertyEU Archive
DIC Asset invests EUR 75m in restoration of Frankfurt's historic building
Germany's DIC Asset said on Thursday that it has completed the restoration and restructuring work on the historic Bienenkorbhaus building on Frankfurt's boulevard Zeil on schedule. It added that 80% of the property has already been let and delivered to the new tenants. The asset comprises 10,500 m[sup]2[/sup] of ...
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PropertyEU Archive
Summit warns of likely breach of LTV covenants
AIM-listed German commercial property investment company Summit Germany said on Thursday that it is likely to start renegotiating the financing term of its credit facilities as it risks breaching loan-to-value covenants due to a sharp fall in the value of its property portfolio.
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PropertyEU Archive
Colonial raises EUR 1bn from sale of FCC, SFL stake
Spanish troubled property company Colonial said that it has raised EUR 1.043 bn from the sale of a 14.31% stake in construction group Fomento de Construcciones y Contratas (FCC) and a 30.56% interest in France's Societe Fonciere Lyonnaise. The capital will be used to pay down its EUR 7 bn ...
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PropertyEU Archive
'UK property losses could trigger second credit crunch'
Commercial property companies, banks and investors must look to broader restructuring and refinancing solutions, says Close Brothers, a European corporate finance adviser. The group is urging banks and investors in the UK property sector to devise alternative financing solutions in the face of a potential £140 bn (EUR 155 bn) ...
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PropertyEU Archive
UFG sells industrial project in St Petersburg
UFG Real Estate said it has sold two plots of land in its Fyodorovskoe Industrial Park project located south of St Petersburg, Russia, for an undisclosed amount. The company added that it is realising an aggregate net Internal Rate of Return of 67.75% from the disposal. The two sites were ...
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PropertyEU Archive
Real I.S. buys Madrid office building
Germany's Real I.S. said it has acquired a property in the Julian Camarillo office district of Madrid in a EUR 28 mln sale and leaseback with IT company Firma Atos Origin. The asset is earmarked for the institutional investment fund BGV Bayerische Grundvermögen III SICAV FIS. The four-storey building has ...
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PropertyEU Archive
Estcapital sells retail property in Verona
Italy's Estcapital, on behalf of its RealShops fund, has sold a building located in the historic centre of Verona, Northern Italy, and fully leased to the fashion retail chain Gruppo Coin. The property, with 6,000 m[sup]2[/sup] of lettable area, was sold for EUR 19 mln, a 17% increase on the ...
