All Real Assets articles in Web Issue – Page 259
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PropertyEU Archive
Savills calls on lenders to look beyond LTV
Property lenders should 'look beyond loan to value (LTV) covenants when dealing with borrowers and focus on cashflow and debt service in order to 'take advantage of the fruits of recovery', Savills has urged at the launch of its annual financing property presentations.
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PropertyEU Archive
Nexity boosts its hotel business
French real estate group Nexity said on Wednesday that it has launched a new hospitality department to boost its activities in the hotel property sector both in its home country and in the countries where the company is already active (Belgium, Spain, Italy, Poland, Portugal, and Czech Republic). In a ...
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PropertyEU Archive
Bouygues to develop Espaco Braga mall
French construction group Bouygues Immobilier plans to invest up to EUR 140mln in the development of the Espaco Braga shopping mall in northern Portugal. Construction work on the project, which will consist of 150 retail units and will be anchored by a Jumbo supermarket, is due to start in September ...
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PropertyEU Archive
Norway to discuss massive oil fund investment in real estate
Norway's parliament is to debate proposals next week to create a separate real estate allocation for the country's massive government pension fund. If, as seems likely, the proposals are accepted, Norway's central bank will draw up a mandate to enable the EUR 250bn fund to divert 5% of its investments ...
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PropertyEU Archive
Invista: France, Germany tipped as EU markets diverge
Property performance across Continental Europe is expected to diverge over the course of 2008, as the market digests the impact of the global credit crunch, according to the latest research from Invista Real Estate Investment Management published on Wednesday. In these conditions, the report highlighted that investors need to look ...
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PropertyEU Archive
CBRE completes Copenhagen's largest office let in 2008
Global property advisor CB Richard Ellis has let a landmark 24,000 m[sup]2[/sup] office tower in TV-Byen in Soborg, near Copenhagen, to global professional services provider Ernst & Young. Ernst & Young will relocate its current Danish headquarters to the building, leasing all 15 storeys in the largest office letting deal ...
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PropertyEU Archive
AREFF buys Finnish property for EUR 31m
Aberdeen's Property Investors’ Aberdeen Real Estate Fund Finland (AREFF) said it has bought a 26,000 m[sup]2[/sup] office and logistics property in Hakkila, Vantaa, southern Finland, from logistics provider Kesko and the Kesko Pension Fund. The property, which consists of 26,000 m[sup]2[/sup] of lettable space, houses the headquarters of retailer Rautakesko ...
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PropertyEU Archive
SEB acquires Spanish logistics property for EUR 39m
Swedish firm SEB Asset Management said on Thursday it had acquired a logistics property in Ciempozuelos, 35 km south of Madrid, for its mutual fund SEB ImmoPortfolio Target Return Fund for EUR 39.5 mln. The seller is Coperfil Real Estate, a subsidiary of the Spanish property developer Coperfil Construcción.
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PropertyEU Archive
Atisreal, Danos form Greek alliance
Property firm Atisreal said on Thursday it had formed a strategic alliance with Greek peer Danos & Associates. Danos has offices in Athens, Thessalonika, Nicosia and Limassol and 60 employees. ‘It will provide Atisreal with its range of property services, notably investment, transactions (rent and sale), consulting and valuation (residential ...
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PropertyEU Archive
'BCO can play key role in Russia's real estate industry'
The British Council of Offices (BCO) can play a vital role in raising the game of the real estate industry in Russia and Eastern Europe, according to Robert Fry of London-based architects firm Swanke Hayden Connell. Fry made the comment during a seminar on the first day of the BCO's ...
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PropertyEU Archive
Volograd named as emerging city in Russia, BCO delegates hear
Rostov-na-Donu, Saratov and Volograd are the new emerging cities to watch in Russia, according to Simon Marx, head of real estate forecasting at UK-based research firm Experian. Other second-tier cities in Central and Eastern Europe with populations of over a million and good growth prospects are Izmir (Turkey), Adana, Turkey ...
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PropertyEU Archive
ING REIM CEO David Blight resigns
ING Real Estate said on Thursday that David Blight, the CEO of ING Real Estate Investment Management (ING REIM) has resigned for family reasons and will be returning to his home country Australia. He will be leaving the company at the end of August but will remain connected with ING ...
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PropertyEU Archive
ICSC: Outlet centres booming in economic slowdown
The International Council of Shopping Centers (ICSC) said on Thursday that designer outlet centres in the USA and across Europe are bucking the downturn seen in the general retail trade. Brendon O’Reilly, Development Director at property consultants GVA Grimley, said the upward trend for designer outlet centres is continuing in ...
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PropertyEU Archive
TriGranit opens new Bratislava office building
Hungarian developer TriGranit Development Corporation said on Thursday it had opened its latest office development in the Sklovak capital Bratislava. The Lakeside Park phase 1, offers around 25,000 m[sup]2[/sup] of lettable space, plus over 500 parking places. Total investment in the project will be EUR 44 mln.
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PropertyEU Archive
Fonciere Massena buys French offices from Warburg Henderson
French listed property company Fonciere Massena said it has signed an agreement with German investor Warburg Henderson on the acquisition of an office complex in Boulogne Billancourt. Completed in 2005, the R' Way building provides 4,262 m[sup]2[/sup] of space and 95 parking spaces on the underground level. The property is ...
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PropertyEU Archive
RICS calls on property sector to embrace 'social sustainability'
The UK's Royal Institution of Chartered Surveyors (RICS) has called for a 'change of mindset' in the real estate market, saying companies in the sector need to move beyond purely environmental and economic considerations and also embrace social sustainability. RICS said environmental protection is 'only one side of the coin' ...
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PropertyEU Archive
Cogedim, Vinci team up on Toulouse mixed-use project
French property developer Cogedim is joining forces with Vinci Immobilier to construct Les Portes Sud complex in Toulouse. The mixed-use property will consist of 28,500 m[sup]2[/sup] of commercial space across five buildings. In a statement, the two partners said that Crédit Suisse Asset Management is acquiring the office section of ...
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PropertyEU Archive
OECD: UK economy to slow on housing downturn
The Organisation for Economic Cooperation and Development (OECD) warned on Wednesday that ther UK's economic growth rate will slow in the next two years as a result of a drop of about 10% in property prices. The organisation said in its half-yearly outlook that the downturn in the real estate ...
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PropertyEU Archive
Rezidor to open New Park Inn in Edinburgh
The Rezidor Hotel Group said on Thursday that it plans to open a new Park Inn hotel in Edinburgh, Scotland, making it Rezidor's fourth hotel in the Scottish capital. Located in the city centre, the property will have a total of 171 rooms, a restaurant, a lobby bar & lounge, ...
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PropertyEU Archive
PIK shops in the Republic of Udmurtia
London-listed residential property developer PIK Group said on Thursday it has signed an agreement to purchase a 229 hectare plot of land for development in the city of Izhevsk, Republic of Udmurtia, a sovereign republic within the Russian Federation. The site is situated in the Western part of the Middle ...
