Latest reports – Page 3809
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PropertyEU Archive
North Rhine-Westphalia to sell 100,000 homes
MUNICH - Germany's most populous state, North Rhine-Westphalia, plans to sell off around 100,000 residences in an attempt to reduce debt, the state's finance minister Helmut Linssen announced on Tuesday. The state intends to privatise its Landesentwicklungsgesellschaft (LEG) real estate firm, which owns around 100,000 residences, by selling to an ...
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PropertyEU Archive
DB Real Estate to sell nearly all German properties: report
MUNICH - DB Real Estate, the real estate unit of Deutsche Bank, plans to sell off nearly all its German properties from its open-ended property fund Grundbesitz-Invest, the Financial Times Deutschland reported on Wednesday, citing sources on the sidelines of the commercial real estate trade fair Expo Real in Munich. ...
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PropertyEU Archive
Consider ageing population, investors told
MUNICH - Property investors are being urged to consider the ageing population in future residential developments. With an ever increasing proportion of elderly people in society, it is feared that existing care facilities will soon no longer be able to cope with demand. Speaking at the Expo Real trade fair ...
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PropertyEU Archive
Disagreement over value of German city rankings
MUNICH - Doubts have been cast on the value of a new system which aims to provide investors with a ranking of German cities. The scheme is the brainchild of the German association of public banks (VÖB), which compiled data from around 12,500 municipalities across the country to produce a ...
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PropertyEU Archive
Deka sells Frankfurt tower for EUR 400 mln
MUNICH - Germany's DekaBank has sold a 38-storey tower in Frankfurt to UBS Wealth Management Global Property Fund for EUR 400 mln. The sale of the 'Skyper' skyscraper is part of a restructuring programme begun last August by ceo Franz Waas. 'With this sale in a profitable market, we will ...
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PropertyEU Archive
German retailers moving back into city centres
MUNICH - German retailers are increasingly heading for city centres, real estate experts said Tuesday at the Expo Real commercial property trade fair in Munich.
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PropertyEU Archive
25% of German authorities willing to sell housing stock
MUNICH - A quarter of German local authorities want to sell off their housing stock, with and medium-sized towns and cities particularly keen to get sell off part of their housing stocks, a new survey by consultancy firm PriceWaterhouseCoopers (PWC) shows. Towns in the west of the country are ...
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PropertyEU Archive
Redevco sells Pall Mall property for EUR 74 mln
MUNICH - Redevco UK has sold a property on the famous London West End street Pall Mall to Legal & General Assurance for EUR 74 mln. The building, comprising of 3,200 m[sup]2[/sup] of lettable space, has undergone a 'significant refurbishment' which was completed in April this year. All but one ...
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PropertyEU Archive
Corio and Barletta end shopping centre row
MUNICH - Corio, the Dutch-based listed property company, has reached a final settlement with Italian developer Grupo Barletta to end a long-running row about a shopping centre development project about 20 kilometres from Naples. Corio said it expected the Campania shopping centre in Marcianise will open in March 2007 now ...
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PropertyEU Archive
Securitised loan market set to explode
MUNICH - The market for securitised real estate loans is set to explode to $ 1 trillion within the next ten years, according to Robert Grassinger, board member of Hypo Real Estate Bank International. The increase will be fuelled largely by the growing popularity of this type of financial instrument ...
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PropertyEU Archive
Japanese seen entering German market next
MUNICH - The Japanese will soon enter the German property market in the wake of the current wave of American and British investors, according to Robert Aisner, president and chief operating officer of Texas-based Behringer Harvard Real Estate Investments. 'I believe the next wave coming in to Germany will be ...
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PropertyEU Archive
Housing excluded from G-REIT legislation
MUNICH - Housing is to be removed from Germany's draft legislation for real estate investment trusts (REITs), German junior finance minister Axel Nawrath announced on Monday. In removing residential REITs from the draft legislation, the finance minister Peer Steinbrueck is bowing to massive resistance within his Social Democrats (SPD) party. ...
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PropertyEU Archive
Atisreal: volume of French property investment grows 25% in 2006
MUNICH - The volume of investment transactions in the French property market is set to rise by 25% this year to EUR 25 bn, according to Etienne Pronque, senior consultant at Paris-based property advisor Atisreal. The expected increase for 2006 is double the 2004 figure.
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PropertyEU Archive
Degi: global property investment reaches EUR 478 bn
Global property investments are expected to reach a record EUR 478 bn ($600 bn) for 2006, according to a new report by Frankfurt-based Degi Research. Property prices are still rising sharply despite stable or only modestly increasing rents, leading to further yield compression. But Degi sees the trend towards falling ...
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PropertyEU Archive
Germany's Grand Coalition told to get tough
German chancellor Angela Merkel's unwieldy coalition of Christian Democrats (CDU) and Social Democrats (SPD) has been urged to toughen up in order to prolong Germany's current property investment boom. Speaking at the start of the Expo Real trade fair in Munich on Monday, experts claimed the country's investment climate was ...
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PropertyEU Archive
Experts demand clarity on G-REITs
German real estate experts cautiously welcomed German finance minister Peer Steinbrueck's draft legislation on German REITs (known as G-REITS), but demanded clarity on the situation regarding residential real estate investment trusts. 'There will be a political debate about the residential REITs,' said Rudolph Hanisch, deputy chairman of the BayernLB board ...
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PropertyEU Archive
CGI sells German property to Morgan Stanley
Commerz Grundbesitz-Investmentgesellschaft (CGI), a member of Commerz Grundbesitz Group (CGG), has sold a block of German real estate from its HausInvest Europa open-end property fund to Morgan Stanley Real Estate Fund (MSREF) for EUR 526 mln. The 29 properties are located in the Rhine-Main area, the Rhine-Ruhr area, Munich, Berlin, ...
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PropertyEU Archive
IVG strengthens position in German office investment market
German real estate invest company IVG Immobilien has acquired four office properties for EUR 190 mln from German open-ended real estate fund Difa. The properties are located in Munich, Dusseldorf and Stuttgart.
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PropertyEU Archive
UK bank to buy EUR 220 mln Stuttgart mall
British investment banking group Evans Randall has agreed to buy the Konigsbau Passagen shopping in Stuttgart for EUR 220 mln from HSH N Real Estate and property company Stilwerk. The sale, which is subject to approval by the Baden-Württemberg state trust, is Evans Randall's first acquisition in Germany.
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PropertyEU Archive
UK and German REITs will have 'snowball effect'
The market capitalisation of European real estate investment trusts (REITs) is set to triple to EUR 585 bn by 2011, according to Nick van Ommen, ceo of the European association of listed companies EPRA . Speaking at a conference on 'REITs, the new global emerging asset class' at the Expo ...
