Latest reports – Page 3391
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PropertyEU Archive
Land Securities sells New Scotland Yard property
UK REIT Land Securities said on Friday that it has sold its freehold interest in New Scotland Yard property to the Metropolitan Police Authority. The company confirmed in November that it was in talks with London's Metropolitan Police to sell the 137,000 m[sup]2[/sup] property to its occupier for a price ...
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PropertyEU Archive
UniCredit pulls out of EUR 1bn property deal
Italian banking giant Unicredit said on Friday it is dropping a property disposal said to be worth over EUR 1 bn and will instead look at a smaller deal as a result of 'the current adverse market conditions'.
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PropertyEU Archive
DTZ seeks to raise £55m in wake of crisis
Global property advisor DTZ is seeking to raise up to £55 mln (EUR59.2 mln) of new equity as it struggles to survive the fallouts of the credit crisis. The London-listed broker, which unveiled a pre-tax loss of £11.2 mln in the first half to October 2008, said the equity raising ...
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PropertyEU Archive
Allianz Immobilien names new CIO
Allianz Immobilien said it has appointed Stefan H. Brendgen as the new Chief Investment Officer with effect from January 15, 2009. Brendgen will hold his new position until the end of March 2009 when will become the chairman of the company management. Karl Ralf Jung will continue to be CEO ...
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PropertyEU Archive
Dev Secs completes Carnival UK headquarters
Development Securities has announced the completion and handover of the headquarters building for cruiser operator Carnival UK, two months ahead of the scheduled programme.
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PropertyEU Archive
NAI, C&W broker 5,600 m[sup]2[/sup] letting in southern Rhine-Main
NAI apollo, the independent real estate consulting group headquartered in Frankfurt, has announced that it has jointly brokered the leasing of 5,600 m[sup]2[/sup] of space in the southern Rhine-Main area of Germany.
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PropertyEU Archive
Over 40 OPCIs launched in France this year
France has seen the launch of over 40 OPCI investment vehicles with a total market capitalisation of EUR 5 bn since legislation was passed in late 2007 facilitating the creation of these new non-listed property investment funds. A total of 28 management companies were licensed by the French stock market ...
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PropertyEU Archive
First Industrial arranges new $110m loan for Calstrs JV
Industrial developer and investor First Industrial announced on Friday that it has arranged a new $110 mln (EUR 78 mln) term loan facility for its joint ventures with the California State Teachers' Retirement System (Calstrs), the second-largest public pension fund in the US. The facility includes accordion features, subject to ...
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PropertyEU Archive
Colonia cuts 20% of staff
German listed Colonia Real Estate has said it is laying off 20% of its staff and restructuring its operations and external consulting expenses to save at least EUR 9.5 mln annually. Colonia said the measures focus on four areas: consolidation of non-operating subsidiaries, cut back by diversification, separation or restructuring ...
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PropertyEU Archive
Immoeast posts pre-tax loss of EUR 1.9bn in H1
CEE property investor and developer Immoeast said on Friday it booked a 'massive loss' in the first half of the year as a result of extensive depreciations on investment properties and development projects in the wake of deteriorating market conditions. Immoeast, part of Austrian group Immofinanz, said its earnings before ...
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News
CPPIB buys into Turkish retail
CANADA - The Canada Pension Plan Investment Board (CPPIB) has invested €250m of equity in a Turkish retail fund.
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News
NAREIM fears loss of carried interest CGT
US – The National Association of Real Estate Investment Managers (NAREIM) fears the new US presidential administration will make changes to the way carried interest is taxed and make real estate a less attractive investment and deterring entrepreneurs from taking risks.
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PropertyEU Archive
Fund backs e-shelter's data centre expansion
UK property funding specialist Pinder Fry & Benjamin
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PropertyEU Archive
Eurex to launch Europe's first property futures
International derivatives exchange Eurex has announced plans to launch Europe's first property futures on 9 February 2009. The futures will be annual contracts based on the total returns of Investment Property Databank's IPD UK Annual All Property Index for individual calendar years. Eurex and IPD signed a license agreement in ...
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PropertyEU Archive
Tenant risk may add to mall developers' troubles in CEE
Tenant demands form a growing risk for retail developers in Central and Eastern Europe, claims Rachel Lavine, CEO of Atrium European Real Estate (formerly Meinl European Land). 'We haven't seen this trend yet in Poland or the Czech Republic, but it wouldn't surprise me if we started seeing tenants demanding ...
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PropertyEU Archive
Hypo pledges full cooperation to probe of alleged market manipulation
Munich-based Hypo Real Estate said on Thursday it is cooperating fully with an investigation by German prosecutors into alleged market manipulation at the listed bank when it was seeking a multi-billion euro lifeline to survive the credit crisis.
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PropertyEU Archive
Fair Value REIT sells to Spanish investors
German REIT Fair Value Immobilien has sold the Airport Office II property in Düsseldorf, Germany, for over EUR 15 mln. The new property, located in the vicinity of Düsseldorf International Airport's terminal building, was sold to an unnamed group of Spanish investors. Fair Value took over the development of the ...
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PropertyEU Archive
Beni Stabili closes EUR 50m worth of deals
Italy's Beni Stabili has closed sales totalling EUR 50 mln in the past two months. The listed office-focused firm said this week it sold an office building in Milan's Via Colonna for EUR 32 mln, in line with the asset's market value. The company did not disclose the buyer.
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PropertyEU Archive
DIC Asset sells assets for EUR 36m
Frankfurt-based DIC Asset said it has sold commercial real estate in Germany for a total transaction volume of EUR 36 mln 'in spite of the difficult market environment'. The assets are in Bavaria, Berlin and the Ruhr area, and the company said last year's book and market values of the ...
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PropertyEU Archive
Multi closes EUR 4.3b Turkey retail vehicle
Multi Corporation, Europe's largest retail developer, confirmed the launch of a multi-billion-euro Turkish retail fund on Thursday as reported by PropertyEU last week. Multi Retail Turkey fund is a real estate development platform consisting of 21 shopping centres that are either completed, under construction or planned throughout Turkey with a ...
