Latest reports – Page 3426
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News
Mixed opinions surface over Middle Eastern property
MIDDLE EAST – Experts are predicting the Middle Eastern real estate markets will significantly outperform all other regions yet the latest data from a central bank suggests real estate valuations in the region have already been hit by the credit crunch.
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News
INREV calls for single best practice framework
GLOBAL - Fund managers and investors have been invited to consider plans to combine all eight industry guidelines established by the European Association for Investors in Non-Listed Real Estate Vehicles (INREV) into one integrated best practice document.
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News
Office deal spreads EPISO assets across France
EUROPE – The European Property Investors Special Opportunities (EPISO) fund has increased its property holdings in France after purchasing a €145.6m portfolio from Credit Agricole Asset Management.
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News
Ontario begins foundations outside Canada
UK/CANADA – Ontario Municipal Employees Retirement System (OMERS), one of Canada’s largest pension funds with net investments of CA$52bn (€32.4bn), is expanding its global presence with the opening of an office in London.
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News
Dip in property values lower French and Japanese gains
FRANCE/JAPAN – Commercial real estate returns in the French and Japanese property investment markets have quickly slowed to deliver lower returns, the IPD’s biannual studies have revealed.
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News
Merrill to invest $2.65bn in Asian real estate
ASIA – Merrill Lynch has closed its Asian Real Estate Opportunities Fund after raising $2.65bn for investments despite the turbulent economic climate.
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News
Investors call for Thai real estate rule change
THAILAND – Thailand’s government is being urged to relax foreign ownership regulations governing real estate, in a bid to shore up its residential property market during the global economic downturn.
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PropertyEU Archive
Colonial mulls EUR1.4bn bond sale to cut debt
Spanish property company Colonial has announced plans to sell EUR 1.4 bn worth of convertible bonds as part of programme to reduce its debt. In a statement to the stock market regulator, the company said it will seek shareholder approval on the new measure during a meeting to be held ...
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PropertyEU Archive
Accor to sell 600 hotels
French hotel chain Accor plans to sell off around 600 hotels in the medium term as part of its plans to focus on its core hotel management business. 'Despite the global credit crunch, Accor is committed to pursuing its asset sale strategy,' the company said on Monday. It added that ...
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PropertyEU Archive
Pik wins contracts worth $1bn in Moscow region
Russian real estate developer PIK Group said on Monday that it has won several development contracts worth $1 bn (EUR 750 mln) via a tender process organised by the municipality of Moscow. The contracts will provide $1bn of municipal funds to be invested by the City of Moscow in housing ...
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PropertyEU Archive
BBK buys 33% stake in Bilbao's Iberdrola tower
Unlisted Spanish savings bank BBK has invested EUR 80 mln in the Torre Iberdrola tower project which is being developed in Bilbao by Spanish power company Iberdrola. The bank is acquiring a stake in the project from Iberdrola's former development partner, Promotora Vizcaína (PV), which struggled to find the much-needed ...
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PropertyEU Archive
Royal BAM puts dredger sale talks on ice
Royal BAM Group announced on Friday that long-running talks on the sale of its interest in international dredging specialist Van Oord have been 'held up' due to the turmoil in the financial markets. But BAM said it still intended to sell its 21.5% stake in Van Oord and expected to ...
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PropertyEU Archive
Aberdeen acquires prime logistics building in Finland
Aberdeen Property Investors' European Balanced Property Fund has acquired a prime logistics property, near Helsinki-Vantaa airport, from Finland's EKE Group, the developer and builder of the property. The financial details of this transaction were not disclosed.
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PropertyEU Archive
Colonia RE unveils vast cost-cutting programme
German property company Colonia Real Estate (CRE) has announced the launch of a 'comprehensive' programme to reduce costs and enhance efficiency. In a statement on Monday, the company said it aims to cut its general administrative costs by at least 50% by consolidating and restructuring its subsidiaries, reducing general administrative ...
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PropertyEU Archive
DTZ's Dutch chairman resigns after tax fraud conviction
Cees de Jong has resigned with immediate effect as chairman of the board and partner of DTZ Zadelhoff, the Dutch office of property services firm DTZ, following his conviction for tax fraud last week.
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PropertyEU Archive
Reyal-Urbis seals EUR3 bn refinancing deal
Madrid-based property company Reyal-Urbis has reached a deal with 51 banks to refinance its EUR 3 bn mountain of debt. In a statement on Monday to the Spanish stock market regulator, the debt-laden property firm said it has obtained two new credit lines which will allow the group to have ...
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PropertyEU Archive
F & C REIT to sell Swallow Hotel portfolio
UK property asset manager F & C REIT has instructed auctioneer Christie & Co to sell nine Swallow Hotels located in England and Scotland. The hotels, which are available individually or as a group, consist of eight freehold properties and one long leasehold.
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PropertyEU Archive
Fonciere Paris France agrees EUR 34m sale with Sagi
Listed property company Fonciere Paris France has announced the sale of Les Ellipses office building in Saint Maurice to Sagi, part of the Groupe SNI - Caisse des Depots. The transaction amount comes to EUR 34 mln. Les Ellipses provides 9,300 m[sup]2[/sup] of leasable office space leased to several tenants. ...
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PropertyEU Archive
Non-listed RE funds becoming more transparent - INREV
Europe's non-listed real estate funds are increasingly incorporating the guidelines set by the industry body INREV in their annual reporting, according to the findings of a recent study.
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PropertyEU Archive
Top 5 deals of Week 42
The largest deal with financial details recorded by PropertyEU between 13 and 17 October was the Realkapital Partners acquisition of an office building in Paris and logistics scheme in Algers for its Realkapital European Opportunity II fund for EUR 80 mln.
