Latest reports – Page 3418
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PropertyEU Archive
Commerzbank, HSH Nordbank line up for rescue funds
Commerzbank, Germany's second-largest bank, has said it will seek EUR 8.2 bn in cash and EUR 15 bn in funding guarantees from SoFFin, the stabilisation fund established by the German government in response to the turmoil in the global banking sector.
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PropertyEU Archive
Mipim Horizons turns 'green'
Mipim Horizons 2008, the first edition of the property fair in Cannes on the French Riviera dedicated to the world's fast-growing regions, has announced it is 'going green'. The fair is being held from 2-4 December and will feature conferences and events on green architecture, construction and housing and many ...
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PropertyEU Archive
Romania's RED opens London office
RED Projects, the Romanian real estate developer, has opened an international office in London to source international development opportunities, investment finance, and retail and commercial tenants. RED, which has a EUR 600 mln retail property development portfolio in Romania, has appointed Andrew Hardy as managing partner at RED International in ...
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PropertyEU Archive
Savills rebrands Irish office
Savills Hamilton Osborne King in Ireland has been rebranded as Savills in line with the group's global office network. UK-based broker Savills acquired Hamilton Osborne King in June 2006 and since January 2007 the company has been known as Savills Hamilton Osborne King.
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PropertyEU Archive
Downward spiral continues in Germany - King Sturge
German real estate professionals are gloomier than ever in the wake of the increased turbulence in the international financial markets. King Sturge's Real Estate Climate index, which polls 1,000 market participants every month, returned the steepest loss ever in the history of the index in October. The Real Estate Climate ...
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PropertyEU Archive
Dutch prosecutors focus on real estate fraud
The prosecution service and tax officials in the Netherlands are to establish a real estate intelligence centre to combat real estate fraud. The centre will work with police and local officials to tackle networks involved in illegally skimming off profits from real estate activities.
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PropertyEU Archive
Nieuwe Steen acquires Swiss shopping centre for EUR 47m
Netherlands-based Nieuwe Steen Investments (NSI) has acquired the Perolles Centre shopping centre and apartments in the Swiss city of Fribourg for EUR 47 mln.
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PropertyEU Archive
Spanish property debts hit banks
Up to a third of the loans to Spanish property developers could go bad before the end of the financial crisis, according to a report in the Financial Times. At the end of June, total bank credit for Spanish property developers reached a new peak of EUR 313 bn while ...
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PropertyEU Archive
GPR 250 Europe: October 2008 'worst month ever'
The GPR 250 Europe index returned - 22.4% in October, the worst monthly performance ever recorded by the index. On a country level, only Norway (Norwegian Property at 0.0%) avoided slipping into negative territory. The other European countries recorded losses varying from -44% for Austria to -18.3% for the Netherlands ...
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PropertyEU Archive
Reinmann joins Segro board
Segro, the UK real estate investment trust (REIT), has announced that Ines Reinmann, who heads the firm's Continental Europe division, has been appointed to Segro's board. The company also said it is devolving a number of activities and services that were previously managed at the centre to its UK business, ...
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PropertyEU Archive
JLL announces further cuts in England
Property adviser Jones Lang LaSalle has confirmed that it is to cut a further 30 to 40 jobs in England due to 'the continuing challenging financial and economic climate'. The redundancies come on top of the 80 job losses in England announced in mid September and are part of a ...
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PropertyEU Archive
AMB pre-leases 30,000 m[sup]2[/sup] at port developments near Paris
AMB Property Corporation has pre-leased 29,600 m[sup]2[/sup] of development projects in the Seine River corridor. The corridor connects Paris to the English Channel and serves as the main gateway for imports into France.
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PropertyEU Archive
Pace of derivatives trading slows amid financial turmoil - IPD
The total volume of IPD Property Derivatives traded in the third quarter of 2008 fell 38% on the previous quarter, to £1.15 bn (EUR 1.8 bn). A total of 166 trades were executed during the three-month period to 30 September, the lowest number of trades since the third quarter ...
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PropertyEU Archive
Plaza buys out JV partner in Indian development
Plaza Centers, the emerging markets retail developer, has bought the 50% stake its joint venture partner, the Avinash Bhosale Group (ABIL), held in their Koregaon Park development in Pune, Western India for a total of $20 mln (EUR 15.6 mln).
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PropertyEU Archive
Chayton, CV Starr acquire Hungarian land owner for EUR 155m
Chayton Capital's Sava Fund and CV Starr have bought a 74% stake in Skoglund Holding, a Hungarian company that owns a 10 million m[sup]2[/sup] portfolio of residential and commercial development property in and around Budapest for EUR 155 mln.
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PropertyEU Archive
Catella goes in search of distressed property in Spain
Catella Property Group said it has opened a new office in Madrid to take advantage of opportunities in the distressed Spanish property market. 'In 1992 Catella’s property arm started in Sweden in what was then a distressed Swedish property market,' said Johan Ericsson, Group CEO of Catella Property Group.
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PropertyEU Archive
Deka purchases Vienna office property from Immofinanz
German fund manager Deka Immobilien Investment has acquired Silk 7, a modern office property located on Seidengasse in Vienna's 7th district from Immofinanz. Both sides agreed to keep the transaction volume confidential but Immofinanz said it exceeded the assessed value.
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PropertyEU Archive
Klepierre appoints new CEO as Clair moves to supervisory board
French real estate firm Klepierre has appointed Laurent Morel as CEO to replace Michel Clair who is stepping down to lead the supervisory board. Morel joined the Klepierre group four years ago, and was appointed to the executive board on 1 June 2005. He was appointed manager of retail firm ...
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PropertyEU Archive
AEW Europe begins search for new CEO
European real estate investment manager AEW Europe is launching a search for a new CEO to replace veteran Francois Pochard who retires early next year, well-informed sources claim.
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PropertyEU Archive
Kenmore agrees strategic alliance with Saudi group
Kenmore Property Group is entering into a strategic alliance with Saudi investment banking firm Watan Investments and Securities. The parties have signed a Memorandum of Understanding (MoU) on the alliance that will harness their real estate expertise.
