All Real Assets articles in Web Issue – Page 317
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PropertyEU Archive
Metropolis complex in Moscow 75% let
Some 75% of the Metropolis business complex in Moscow has now been leased following an agreement with a major international company ranking among the largest top 25 companies according to Fortune 500. The lease marks Jones Lang LaSalle’s 10th deal in the business complex.
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PropertyEU Archive
Deals melt away in Central and Eastern Europe
Real estate investment has dried up in Central and Eastern Europe in recent weeks as the region sheds its image as a relatively credit crunch-free zone.
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PropertyEU Archive
BMPSA mulls Brazilian fair as numbers slide in Barcelona
As Spain experiences its worst real estate crisis in decades, the organisers of the Barcelona Meeting Point (BMPSA) property fair are mulling the launch of a fair in Brazil next year. 'We have to put more focus on the international side of our business and I can announce that chances ...
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PropertyEU Archive
Multi Development opens Forum Barreiro in Portugal
Dutch retail developer Multi Corporation has opened its Forum Barreiro shopping centre near Lisbon. The mall offers 17,500 m[sup]2[/sup] of retail and leisure, including 108 shops and a Castello Lopes multiplex cinema. The scheme, which represents an investment of EUR72 mln and was bought by Rockspring, will be managed by ...
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PropertyEU Archive
Danish fund buys in Frankfurt
Danish real estate fund Ejendomsselskabet has bought five residential and commercial properties in the city centre of Frankfurt. The 6,532 m[sup]2[/sup] residential and commercial areas are fully let and are divided into 43 apartments and six commercial units. NAI apollo acted as consultant.
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PropertyEU Archive
Highcroft Investments joins REITA campaign
Highcroft Investments has joined Reita, the educational and awareness campaign for real estate investment trusts (REITs) and property investment.
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PropertyEU Archive
Segro cautious on outlook
Segro, the UK-based logistics company, expects demand for industrial space to weaken in the months ahead while property values will decline further until the debt markets stabilise. 'While we have made good progress with our own letting and development programme, we are cautious about the outlook both for occupier markets ...
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PropertyEU Archive
Opportunistic property fundraising continues in face of crisis
Despite the credit crisis and faltering economic growth, opportunistic real estate investment managers continue to attract capital, with some 187 funds seeking to raise $155 bn (EUR121 bn) in the third quarter, according to research from US-based real estate fund of funds manager Clerestory Capital Partners. 'Lots of real estate ...
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PropertyEU Archive
German open-ended funds halt spending spree
German open-ended funds have put their buying activities on hold in the wake of the funds' recent mass redemptions, according to a new report from Jones Lang LaSalle. Open-ended funds, particularly German players, have been one of the few remaining buyers of global property this year.
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PropertyEU Archive
Top 5 deals, Week 45 (3-7 November 2008)
The largest deal recorded by PropertyEU between 3 and 7 November for which the financial details were given was Topland's acquisition of a portfolio of 12 hypermarkets in the Basque region of Spain from retail group Eroski for EUR 361 mln.
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PropertyEU Archive
Metrovacesa to pay for £240m London deal in instalments
Spanish real estate giant Metrovacesa is to pay for its £240 mln (EUR 296 mln) acquisition of a City of London complex from UK financial services group Legal & General in quarterly amounts.
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PropertyEU Archive
IVG fund acquires office property in Bristol for EUR 27m
An institutional fund of German real estate group IVG has acquired a prime office building in the UK city of Bristol for £21.9 mln (EUR 27 mln) from a fund managed by Invista Real Estate Investment Management. The asset is located at 1 George's Square, Bath Street in Bristol, with ...
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PropertyEU Archive
CBRE Q3 profit drops 65%, but beats forecast
CB Richard Ellis has reported that its profit in the third quarter of this year fell 65% to $40.4 mln (EUR 31.5 mln) from $114.9 mln (EUR 89 mln) a year earlier. Revenue fell to $1.3 bn from $1.5 bn a year earlier. The international broker blamed the fall in ...
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PropertyEU Archive
Advisory firms set up 'distressed' teams
The major real estate services firms are setting up special teams to advise on the growing phenomenon of 'distressed' property sales as the credit crunch deepens.
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PropertyEU Archive
JLL closes two leasing deals in Russia
Jones Lang LaSalle's tenant representation team has announced two recent leasing deals in the Russian capital. In the first, the broker's team completed a leasehold transaction for the Russian unit of pharmaceutical company Sandoz at the 288,000-m[sup]2[/sup] class-A Capital City business centre in Moscow.
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PropertyEU Archive
Spanish property in for a long hard ride, says C&W's Cooke
The crisis in the Spanish real estate sector may be bottoming out but recovery is still a long way off, Roger Cooke, managing partner at Cushman & Wakefield Spain, has told PropertyEU.
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PropertyEU Archive
Land Secs to suspend demerger plan - report
Land Securities is poised to put its plan to split into two separate listed companies on hold due to the deepening decline in the UK commercial property sector, according to a report in the Times newspaper at the weekend.
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PropertyEU Archive
Irish real estate undergoes dramatic re-pricing - IPD
The commercial real estate sector has undergone a rapid re-pricing as the market continues to falter. Year-to-date total returns now stand at -21.2%,
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PropertyEU Archive
Echo presents office scheme in Szczecin
Echo Investment has presented details of its nine-storey Oxygen office investment being developed in the Polish city of Szczecin. The Class A office building will be opened at the turn of 2009 and 2010. The total gross leasable area of the building is about 14,000 m[sup]2[/sup].
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PropertyEU Archive
Spain must increase threshold for REIT shareholders
The Spanish government's attempt to revive its deflating property market by introducing tax-transparent real estate investment trusts (REITs) will not work unless room is made for the major property companies, Testa CEO Daniel Loureda Lopez has said.
