News – Page 1112
-
News
JLL sees earnings drop in tough times
US – Jones Lang LaSalle (JLL) suffered a 61% fall in earning in the fourth quarter of 2008, bringing the firm’s total net income for the year to $84m (€65.2m).
-
News
Real estate recovery predicted for 2011
GLOBAL – Institutional investors believe the ongoing financial crisis will be a major obstacle for investors looking to allocate to non-listed real estate funds this year and do not expect property markets to start recovering until 2011, according to the INREV Investment Intentions Survey 2009.
-
News
BNP Paribas confirms real estate rebranding
FRANCE – BNP Paribas is uniting all of its real estate subsidiary businesses under the BNP Paribas Real Estate brand as part of a change in strategy, it was confirmed at the Atisreal Année Immobiliere meeting on Tuesday.
-
News
Investors sets their sights on the UK
UK – The United Kingdom is the most attractive country for institutional investors and pension funds looking to invest in real estate in 2009, according to property analysts at the Atisreal Année Immobiliere conference in Paris this week.
-
News
Oregon PERF swaps one deal for four
UNITED STATES - Oregon Public Employees Retirement Fund has terminated a real estate investment trust (REIT) relationship with Cliffwood Properties LLC and signed deals with three other managers to diversify its risk.
-
News
Six years of UK growth wiped out - IPD
UK - The entire capital growth made over the last six years in the UK commercial real estate market has been eroded in only 18 months, according to the IPD UK Quarterly Property Index Q4 2008 published this week.
-
News
Cabot Properties expands into Europe
EUROPE/UNITED STATES - Cabot Properties is planning to expand its industrial acquisition efforts into Europe for the first time.
-
News
Danish Engineers sell €65m portfolio to Aberdeen
DENMARK – DIP, the DKK24bn (€3.22bn) pension fund for Danish engineers, has sold a €65m commercial property portfolio to Aberdeen Property Investors and taken a stake in its Danish fund as part of a shift in its investment strategy.
-
News
Lack of debt to present "challenge" for 2009
EUROPE – European real estate investors expect 2009 to be a challenging year for equity and debt markets, according to the latest sentiment report by PricewaterhouseCoopers and the Urban Land Institute (ULI).
-
News
C-Reits could lift Chinese economy - APREA
CHINA – Chinese Real Estate Investment Trusts (REITs) could play a vital part in helping the country’s real estate markets recover from the economic crisis, according to the Asian Public Real Estate Association (APREA).
-
News
Cohen & Steers predicts “outstanding” returns…in time
GLOBAL – Cohen & Steers, the US investment firm specialising in real estate, remains confident that the majority of global listed real estate companies will weather the economic crisis despite the poor lending environment, according to its latest Review and outlook for the international real estate markets.
-
News
Real estate derivatives go online
US – International Real Estate Securities Exchange Inc. (IRESE) has launched what it describes as the first online real estate-only securities and derivatives exchange.
-
News
Spain to see second property giant collapse
SPAIN – Nozar, a major property company in Spain, is on the brink of going into administration with debts of over €4bn, which could make it the second- largest corporate default in the country.
-
News
Pramerica expands mezzanine position
EUROPE – Prudential Real Estate Investors (PREI) has hired a team of real estate financers to build a commercial property mezzanine platform in Europe to take advantage of immediate opportunities created by the volatile markets.
-
News
New Jersey changes strategy with commingled capital
UNITED STATES - New Jersey Division of Investment has decided to shift $250m (€190.5m) worth of commitments planned for commingled funds into different investment opportunities on the back of market performance worries.
-
News
Los Angeles City alters hotel booking
UNITED STATES - Los Angeles City Employees’ Retirement System has asked Integrated Capital to change the agreement it made concerning the Capital Hospitality fund so it can go ahead with investment plans.
-
News
North Carolina warns on real estate holdings
US – The North Carolina Retirement System lost $17bn (€12.8bn) in value in 2008 and is bracing itself for a steeper decline in real estate values, the Department of State Treasurer announced on Friday.
-
News
Standard Life halts redemptions
UK – Standard Life, the UK insurance company, has delayed redemptions from six commercial property funds worth £2.7bn (€2.9bn) as a result of the slowdown in property transactions.
-
News
UK local government pays tax on its own empty buildings
UK – British councils are paying a whopping £690m (€745m) in business rates on their empty properties, the Business Centre Association revealed this week.
-
News
Arkansas searches property management
US – The $8.4bn Arkansas Teacher Retirement System (ATRS) it is looking to appoint a real estate manager to manage a $140m (€107m) property portfolio.
