Latest reports – Page 3396
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News
Morgan Stanley exits separate accounts
UNITED STATES - Morgan Stanley Real Estate is pulling out of the separate account business.
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News
UK commercial sees investment halve
UK – Jones Lang LaSalle has predicted direct investment in UK commercial real estate will have dropped by approximately 55% year-on-year by the end of 2008, to stand at around £21bn (€24bn).
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News
Chicago Teachers to redeem commingled real estate
UNITED STATES - Public School Teachers’ Pension and Retirement Fund of Chicago is issuing redemption queues on all of its open-ended commingled funds.
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News
IVSB appoints its first chair
UK/GLOBAL – Chris Thorne, technical head of valuation at property consultants Atisreal, has been appointed the chairman of a new International Valuation Standards Board (IVSB).
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News
CBRE reveals new face in Poland
POLAND – CB Richard Ellis Group Inc. (CBRE) has appointed Charles Wardroper as the managing director of its business in Poland.
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PropertyEU Archive
Valad denies report of move to ditch European platform
Valad has denied a suggestion that it is considering unraveling its European platform and looking for equity backers to launch a company buyback in Australia at about five times the price of its shares on the Australian Stock Exchange.
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PropertyEU Archive
Sistema Hals to focus on financed projects only
Sistema-Hals has said that it will concentrate solely on projects that have financing on place or can be carried out with co-investors. The Russian and London-listed developer announced the move as part of a strategic review to help it weather the global liquidity crisis.
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PropertyEU Archive
Sibir unveils $340m purchase to rescue key shareholder
Russian oil company Sibir Energy has unveiled a $340 mln (EUR 265 mln) programme to buy hotels and distressed land projects from Chalva Tchigirinski, its key shareholder and a Russian billionaire who has seen the value of his investments plummet in the wake of the credit crisis. Shares in Sibir, ...
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PropertyEU Archive
Vastned Retails sells Dutch shops for EUR 37m
VastNed Retail has sold part of its Dutch property portfolio to a private investor for just over EUR 37 mln, reflecting a net initial yield in the region of 7.5%. The legal transfer will take place in the middle of December 2008 and the income will be used to repay ...
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PropertyEU Archive
Dutch developers cut staff ahead of 'challenging' 2009
Multi Development intends to cut about 90 staff, about 12% of its 780-strong workforce, in preparation for the challenging market conditions expected in 2009.
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PropertyEU Archive
Hypo gets extra EUR 10bn in guarantees from rescue fund
Troubled German property financier Hypo Real Estate Group has secured an additional EUR 10 bn in liquidity guarantees from the state stabilisation fund Soffin. The new arrangement comes on top of EUR 20 bn in guarantees already agreed with Soffin.
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PropertyEU Archive
CA Immo to modernise Vienna shopping mall
CA Immo has announced plans to modernise the architecture and technology at the 20-year-old Galleria Landstrasse shopping mall in Vienna. The Austrian property investor has been increasing its stake in the centre from 2005 and will become sole owner on 1 January 2009.
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PropertyEU Archive
Steiner Group names Henri Muhr as new CEO
Switzerland's Steiner Group said it has appointed Henri Muhr (53) as the new Chief Executive Officer starting on March 1 2009. He will replace Peter Steiner who was temporarily in charge of the company. Muhr previously held the function of vice general director and a member of the board of ...
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PropertyEU Archive
Romanian electronics retailer takes 9,300 m[sup]2[/sup] from Prologis
Prologis has leased 9,3000 m[sup]2[/sup] of distribution space in Bucharest to Flamingo Group, one of Romania's largest electrical retail and IT distribution companies.
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PropertyEU Archive
Carrefour to raise EUR 43.5m for property unit
French retail giant Carrefour plans to raise EUR 43.5 mln in equity to plough into its retail property unit Carrefour Property Development. The company said on Tuesday that it will raise capital by issuing new shares, giving preferential rights to existing shareholders.
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PropertyEU Archive
Erestone buys in France for EUR 50m
Erestone, a property investment fund created last year by Spanish bank Santander and French construction group Bouygues Construction, has acquired from builder Sodéarif an office project in Saint-Quentin-en-Yvelines, France, for around EUR 50 mln. The property, which is located in the financial and commercial district of the city, comprises around ...
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PropertyEU Archive
ING Real Estate takes City asset off the market
ING Real Estate has withdrawn a large office asset in the City of London from the market after the liquidity crisis derailed two attempts to sell it.
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PropertyEU Archive
Atrium completes shopping centre in Slovakia
CEE developer and investor Atrium European Real Estate said that it has completed the development of the Optima shopping centre in Kosice, Slovakia. This follows the opening of Phase II of the scheme in November 2008 and brings online a further 16,000 m[sup]2[/sup] of gross lettable area (GLA).
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PropertyEU Archive
JLL forecasts 55% fall in UK investment volumes this year
Global property services firm Jones Lang LaSalle (JLL) said on Tuesday that it expects direct investment in commercial real estate in the UK to total around £21 bn (EUR 24 bn) by the end of 2008. This represents a 55% drop on 2007 investment volumes, JLL said.
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PropertyEU Archive
ICSC unveils winners of international awards
The International Council of Shopping Centers has honoured retail projects in 12 countries at the annual International Design and Development Awards in Arizona, US.
