Retail – Page 117
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IPD predicts further gloom for Ireland
IRELAND – Ireland’s real estate industry has tough times ahead and is unlikely to recover any time soon, according to analysts at the SCS/IPD Annual Results presentation in Dublin this week.
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Property investment slumped €335bn last year
GLOBAL - Global investment in commercial property plummeted 59% to $435bn (€335bn) in 2008 and is likely to fall further in 2009, according to Cushman & Wakefield’s Investment Atlas 2009 analysis.
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ProLogis sells remainder of PEPF II
EUROPE – ProLogis European Properties (PEPR) has decided to sell its one-third stake in the ProLogis European Properties Fund (PEPF) II to further de-leverage the firm.
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British Land halves Meadowhall stake ahead of rights issue
UK – The British Land Company has exchanged contracts with London & Stamford Property to sell a 50% interest in the freehold of the Meadowhall Shopping Centre near Sheffield, but it is also raising additional funds through a £740m (€819.49m) rights issue.
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Klépierre rolls on with real estate sale
FRANCE – Klépierre, the French real estate investment company, will continue its disposal programme to boost liquidity and expects positive growth in 2009, executives announced yesterday.
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French property market 'must adapt to survive'
FRANCE – Property experts have predicted the French real estate industry is set to deteriorate even further in 2009 as a result of the financial crisis and will have to adapt itself to investors’ demands in order to recover.
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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.
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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.
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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.
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Land Securities warns of tenancy pressures
UK – Land Securities is retaining a “cautious outlook” of the property markets after registering an increase in empty properties within its portfolio, and fears property will continue on a downward spiral over the coming months.
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Aberdeen predicts UK property bounceback
UK – Institutional investors, including UK pension funds, are likely to tap into the UK property market for attractive opportunities by the end of this year, according to Aberdeen Property Investors’ UK Property Snapshot.
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Japan real estate confirmed as falling year-on-year
JAPAN – Japanese real estate has delivered its first negative year-on-year capital returns, according to figures released by the Investment Property Databank (IPD) which run to the end of the third quarter 2008.
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Activity sees IVG buy German retail from AEW
Europe – AEW Europe’s pan-European fund has sold its prime retail asset in Hamburg for €94m, proving the German real estate market is still showing signs of activity despite the credit crunch.
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Higher yields allude to lower income growth - CBRE
EUROPE – Yields across all commercial sectors in Europe, Middle East and Africa markets have increased in the fourth quarter of 2008 and may reflect a poor outlook for rents, according to latest data from the CB Richard Ellis EU-15 yield indices.
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ING enters Polish retail space
Czech Republic – ING Real Estate Investment Management has acquired a €125m shopping centre in the Czech Republic and added it to the ING Property Fund Central Europe.
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Henderson weds Croom for retail property (amended)
EUROPE – Henderson Global Investors has appointed Katherine Groom as portfolio manager for its pan-European retail property fund, Herald.
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More than €50bn waiting to be deployed in Europe
EUROPE – More than €50bn of equity is targeting European commercial real estate this year, according to the latest European capital markets research carried out by Jones Lang LaSalle (JLL).
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EDHEC launches French index
FRANCE – French business school EDHEC has launched a monthly index for commercial property in France with the help of the Institut de l'Epargne Immobilière et Foncière (IEIF), an independent French real estate research institute.
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Hypo Real Estate faces claims for damages
GLOBAL – Pension funds are making the first claims for damages against Hypo Real Estate (HRE) for failing to reveal its financial difficulties sooner.
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ProLogis steps up to support European Properties
US – ProLogis, the international logistics developer, has stepped in to help ProLogis European Properties (PEPR) by buying a 20% interest in the ProLogis European Properties Fund II (PEPF II).
