Latest reports – Page 3398
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News
E&Y and Henderson to deliver Spezialfonds
GERMANY - Ernst & Young Real Estate and Warburg–Henderson have joined forces to offer what they describe as an outsourcing service for institutional investors which allows them to transfer their directly-held real estate portfolios into a Speziafonds property fund
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News
Real estate returns add to Harvard woes
US - Harvard University’s endowment has lost $8bn (€6.3bn) of investments in the first four months of the university’s fiscal year and is expected to deliver the worst annual returns in 40 years, officials have announced.
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PropertyEU Archive
British Land reignites talks to sell Meadowhall stake - report
UK REIT British Land is said to have revived talks to sell a large stake in its £1.4bn (EUR 1.6 bn) Meadowhall shopping centre in the north of England. According to an article in the Financial Times, a joint venture between London & Stamford and an Abu Dhabi sovereign wealth ...
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PropertyEU Archive
Financing will be Asia's single biggest issue in 2009, says ULI
Industry experts expect Asia's day of reckoning is just around the corner, and anticipate falling asset prices, deteriorating debt markets, increasing bankruptcies, and plummeting transaction volumes as the financial crisis travels the globe, according to the Emerging Trends in Real Estate Asia Pacific 2009 report, released this week by the ...
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PropertyEU Archive
Top deals Week 49 (1-5 December 2008)
The largest deal recorded by PropertyEU between 1 - 5 December was the agreement by Spain's debt-strapped property giant Metrovacesa to sell the HSBC headquarters in Canary Wharf, London back to HSBC for a total of £838 mln (EUR 968 mln). HSBC financed the transaction last May and is booking ...
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PropertyEU Archive
New UK firm looks to raise property funding in Middle East, US
Real Estate Capital Group (Recap) has been launched in the UK to raise equity finance for the real estate industry from the Middle East and the US at a time that the industry is starved of bank lending.
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PropertyEU Archive
Aedes approves EUR 150m capital injection by Amenduni-Isoldi JV
Italian real estate company Aedes Immobiliare said its board has approved a bid by a joint venture of Vi-Ba, part of Italian steel group Amenduni, and real estate firm Isoldi Immobiliare, to buy a stake in the Milan-based firm as part of a EUR 150 mln capital increase. The company ...
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PropertyEU Archive
HSBC agrees to buy back Canary Wharf's HQ for £838m
HSBC said on Friday it has agreed to buy back its global headquarters in London's Canary Wharf from Spain's troubled property company Metrovacesa for a total of £838 mln (EUR 968 mln). The bank said it is booking a gain of approximately £250 mln in its second-half results.
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PropertyEU Archive
Less speculative building may lead to scarce office space:DTZ
A sharp decrease in speculative development across the Czech Republic may lead to the lack of new modern office space in two years' time, says international property services firm DTZ. As a result of the deepening global financial crisis, developers are no longer building on such a speculative basis, a ...
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PropertyEU Archive
KPP Retail makes first Polish investment
Polish investor Keen Property Partners Retail (KPP Retail) said on Friday that it has made its first acquisition with the purchase of Park Handlowy Eden in Zgorzelec and Centrum Handlowe Graf in Chelm, Eastern Poland. The total transaction volume comes to EUR 24 mln.
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PropertyEU Archive
Marshall Capital Partners set to launch $500m Russian fund
Marshall Capital Partners is raising up to $500 mln for an opportunity fund targeting real estate assets across Russia. The fund will be managed by the newly-established Marshall Real Estate Management and will be overseen by Michael Golomb, who was recently appointed as managing partner.
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PropertyEU Archive
Stock market watchdog approves Colonial's EUR 1.43b bond issue
Spanish property company Colonial said on Friday that the stock market regulator CNMV has approved a plan by the company to issue convertible bonds worth EUR 1.43 bn to reduce the group's net financial debt by up to 16%. Colonial said shareholders will have an option to buy the bonds ...
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PropertyEU Archive
New management Immofinanz ends 'Petrikovics era'
The question of what happened to the EUR 512 mln which went 'missing' under former Immofinanz/Immoeast CEO Karl Petrikovics has been resolved, the new management of the Vienna-based concern has announced. 'Most of the money was evidently used to purchase shares, and some to purchase investments within Constantia Privatbank. ...
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PropertyEU Archive
Rewe adds 13 Moscow supermarkets to its basket
German food group retailer Rewe has continued its expansion in Russia with the acquisition of 13 supermarkets from grocery chain Njam Njam in Moscow. The transaction was carried out by Rewe's Austrian subsidiary Eurobilla which oversees the group's supermarket business in Central and Eastern Europe.
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PropertyEU Archive
STE to sell Paris office building for EUR 15m
Paris-listed Societe de la Tour Eiffel has signed a preliminary sales agreement for an office property near the Arc de Triomphe in the French capital. The sale for EUR 15 mln is part of the company's strategy of selective non-strategic asset disposals.
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PropertyEU Archive
Subsidiary of celebrity fund succumbs to credit crunch
Accountancy firm Grant Thornton has been appointed administrator to a key subsidiary of UK celebrity fund manager AAIM Group as the liquidity crisis continues to take victims in the UK. Several media sources suggested that the crisis affects the entire AAIM Group, that counts TV presenter Sir David Frost and ...
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PropertyEU Archive
Casino to realise EUR 100m from asset sales
French retail company Casino said it has reached an agreement on the sale of a portfolio of retail properties to its AEW Immocommercial property investment mutual fund vehicle. In addition, four Casino supermarket properties will be sold to an unnamed business partner.
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PropertyEU Archive
TCN focuses on investment as development stalls
Netherlands-based developer TCN has shifted its focus to investment because the prospects for the development business have been drastically reduced in the wake of the global financial crisis and the economic downturn.
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PropertyEU Archive
New Star hands 75% stake to banks in debt for equity swap
A syndicate of banks is taking a majority stake in troubled UK fund manager New Star in a debt-for-equity swap. New Star said the restructuring will result in £240 mln (EUR 277 mln) of its £260 mln of gross debt being converted into equity.
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PropertyEU Archive
ECE to go ahead with Polish shopping centre scheme
ECE project management is set to go ahead with its Galeria Kaskada shopping centre in the Polish port city of Szczecin in spite of current economic conditions and the severe slowdown of development in Central and Eastern Europe, Alexander Otto, CEO of ECE, has said.
