Latest reports – Page 3441
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News
Felix turns off the road and into Aviva
UNITED STATES – Steve Felix, well-known in the pensions and institutional real estate market, is leaving his full-time writing behind and joining Aviva Investors to become head of marketing for its North American real estate multi-manager products.
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News
Union seeks growth through Axa CEO
GERMANY - Hamburg-based investment management firm Union Investment Real Estate (Union) has appointed Karl-Joseph Hermanns-Engel to its management board with specific responsibility for the €14bn firm’s international asset management operations.
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News
Russia to be avoided, warns JP Morgan
RUSSIA - Investors should avoid Russia as a potential area of growth as its property markets will be the hardest hit if the world’s largest country is drawn to the impending global recession, JP Morgan Chase has claimed.
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News
CalPERS appoints infrastructure manager
UNITED STATES - California Public Employees Retirement System has hired Randall Mullan as its senior portfolio manager for infrastructure investments.
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News
Germany steps in protect Hypo’s funds behind the funds
GERMANY – A consortium of German banks has stepped in at the eleventh hour to provide Hypo Real Estate, a provider of loans and financing to real estate purchases and funds, with assets to meet its financing obligations.
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PropertyEU Archive
Limitless withdraws offer for Minerva
Shares in UK developer Minerva fell as much as 50% on Friday after Limitless, the development arm of Dubai World, pulled the plug on its unsolicited bid for the company.
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PropertyEU Archive
Caam RE buys for EUR 35m in Milan
Caam Real Estate, the real estate asset management arm of French bank Credit Agricole, has completed the acquisition of a commercial building in the northern Italian city of Milan from Svi.Me. The transaction amount comes to EUR 35 mln, excluding costs. The property is currently let to German adhesive technology ...
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PropertyEU Archive
Songbird Estates' NAV drops by 21% on property depreciation
Songbird Estates, the majority owner of London's Canary Wharf, said on Friday that its net asset value has dropped by 21.2% in the course of the first six months of the year, from £2.35bn at end-December 2007 to £1.85bn at the end of June this year. The company added that ...
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PropertyEU Archive
Bristol Alliance opens largest retail-led regeneration scheme in UK
Cabot Circus in Bristol, the largest city centre shopping and leisure destination in the UK, opened to the public last week. Developed by Alliance partners Land Securities and Hammerson, the EUR 63 mln (£50 mln) regeneration scheme is the first retail-led scheme in the UK to achieve a BREEAM 'Excellent' ...
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PropertyEU Archive
McArthurGlen opens fourth Italian designer outlet village
UK developer McArthurGlen is to open its fourth retail village in Italy. The first phase of the new development, Veneto Designer Outlet in Noventa di Piave, Venice offers 11,000 m[sup]2[/sup] of gross lettable area. Phase 2, which is scheduled to open in 2009, will provide a further 10,000 m[sup]2[/sup].
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PropertyEU Archive
Canadian pension fund increases stake in Hammerson
Ontario Teachers' Pension Plan, Canada's largest single-profession pension plan, has increased its equity holding in listed UK property company Hammerson to 8.9 million ordinary shares, which represents approximately 3.1% of the total share capital. The pension fund also said that it has an additional economic exposure to some 20,250,000 ...
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PropertyEU Archive
Skanska sells project in Warsaw for EUR 115m
Swedish construction giant Skanska has sold the Atrium City commercial development in Warsaw for EUR 115 mln to the German investment fund Deka. Skanska said in a statement that it has booked a capital gain of EUR 37 mln through the transaction. The project is expected to be 70%-completed by ...
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PropertyEU Archive
MGPA offers EUR 56m lifeline for Plantation Place
MGPA, a private equity real estate fund backed by Macquarie Group, has offered an emergency injection of EUR 56.7 mln (£45 mln) for the vehicle that owns Plantation Place, a City of London office complex. The vehicle, which is owned by Stobart, Tishman International and Invista Foundation Property Trust faces ...
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PropertyEU Archive
Limitless enters Indonesia with $1.7b JV in Jakarta
Limitless, the global real estate arm of Dubai World, said on Thursday it is to develop a $1.7bn mixed-use project in the Indonesian capital Jakarta. The 33-hectare Rasuna Epicentrum is the first project for Limitless in Indonesia, and the fourth in South East Asia. The company already has developments underway ...
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PropertyEU Archive
SEB fund wins IPD award
SEB Asset Management has been awarded the IPD EuroProperty award for investment performance in Germany. Its SEB ImmoPortfolio Target Return Fund, which is a open-ended property fund with a global remit, was singled out in the 'specialist fund' category for providing the highest total return relative to the appropriate sector ...
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PropertyEU Archive
FSA rejects requests to ban short selling of property stocks
The UK 's Financial Services Authority (FSA) has rejected pleas from a dozen listed real estate companies to ban short selling of their shares. The FSA was inundated with requests from property companies following the introduction last week of a ban on shorting banks and insurers.
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PropertyEU Archive
Immofinanz posts loss on devaluation of Immoeast portfolio
Austrian property investor Immofinanz announced a first-quarter loss Thursday, saying a hefty devaluation of the real estate portfolio of Immoeast, its unit focused on business in emerging markets in Europe, weighed on its results.
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PropertyEU Archive
Deka to focus on asset management
German investor Deka Immobilien said it has outsourced the property management of all its 220 properties in Germany, exclusive of shopping centres, as it seeks to focus its business on asset management. Hochtief Property Management and DeTeImmobilien will be responsible for the commercial and technical management of the portfolio from ...
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PropertyEU Archive
Quantum buys German portfolio for EUR 52m
Hamburg-based Quantum Immobilien has purchased a commercial real estate portfolio for EUR 52mln. The portfolio consists of six office properties and one office and commercial building with total rental space of about 35,000 m[sup]2[/sup] located in the cities of Düsseldorf, Munich, Wupertal and Cologne. One of the properties, a vacant ...
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PropertyEU Archive
Corio to put EUR 200m retail assets on market
Dutch retail property company Corio plans to sell 21 retail properties with a total value of EUR 200 mln. The porfolio comprises shopping centres, supermarkets and shops in A1 locations across the Netherlands, PropertyNL, the sister publication of PropertyEU, has reported. Corio has hired CB Richard Ellis to manage the ...
