All Real Assets articles in Web Issue – Page 321
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PropertyEU Archive
Banking take-up in the City drops by 69%
Banking take-up of office space in the City of London fell 69% over the past year in the wake of the current crisis in the financial industry, according to the latest European Banking Briefing report released by Cushman & Wakefield (C&W). The City's total office take-up figures are almost 40% ...
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PropertyEU Archive
Against the grain
The financial crisis is having a domino effect among real estate players in Central and Eastern Europe: one sell-off leads to other sell-offs, a postponed development plan to a slew of postponements.
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PropertyEU Archive
PEPR announces lease extensions
Amsterdam-listed Prologis European Properties (PEPR) has announced that it has signed two lease extensions covering a total of 29,500 m[sup]2[/sup] in the Netherlands and France.
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PropertyEU Archive
UK capital values in record fall, says IPD
UK commercial property capital values have plummeted by the largest ever monthly figure in the Investment Property Databank's 22-year history. Capital values were at -4.3% in October, according to the IPD's UK Monthly Property Index.
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PropertyEU Archive
Cordea Savills expands its Italian operation
International property fund manager Cordea Savills is expanding its Italian investment and operations teams based in Milan with three new appointments. The fund manager said it has appointed David Cunnington who is relocating from London to lead the Cordea Savills team. He will be responsible for the management of the ...
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PropertyEU Archive
Germany's office markets show no sign of crisis yet - DTZ
The five key German office markets continued to enjoy calm waters in the third quarter compared with the turbulence in the financial markets in recent weeks, according to global property services firm DTZ.
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PropertyEU Archive
ING, Nexity to redevelop Docks Libres in Marseille
French property group Nexity said its joint venture with Dutch real estate giant ING Real Estate has been selected by the city of Marseille from 10 other bidders to undertake the first phase of the Docks Libres regeneration project in Marseille. Docks Libres is located in the third arrondissement of ...
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PropertyEU Archive
DTZ opens new office in Geneva
DTZ has expanded its presence in Switzerland with the addition of a French-speaking business based in Geneva.The new team in Geneva includes Matthew Leguen de Lacroix and Anna Briffod, both formerly directors at CBRE's affiliate in Geneva as well as local partners, Juan Munoz and Pierre Stämpfli. The office will ...
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PropertyEU Archive
SFL to renovate Palace Hotel in Paris
Societe Fonciere Lyonnaise (SFL) said it has reached agreement with its partners, including Lainé Delau-GTM Batiment, part of the Vinci Group, to launch the final phase of renovation for the Palace Hotel located in the first arrondissement of Paris. The property, which is expected to re-open in spring 2011, will ...
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PropertyEU Archive
Klepierre, Segece open Madrid's largest mall
French property group Klepierre and its management arm Segece opened the new La Gavia shopping centre in Madrid's Ensanche de Vallecas urban project this week. Comprising more than 110,000 m[sup]2[/sup] of retail space, La Gavia is the largest shopping centre in the Spanish capital.
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PropertyEU Archive
Land Securities in talks to sell New Scotland Yard property
Land Securities has hired King Sturge to market New Scotland Yard, the headquarters of the Metropolitan Police in London. A spokesperson for Land Securities confirmed on Friday that the company is in talks with several interested parties for the 37,000 m[sup]2[/sup] building, which is believed to have a value of ...
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PropertyEU Archive
Citigroup to cut 52,000 additional jobs
Citigroup has revealed plans to cut 52,000 jobs on top of the 22,000 staff reductions announced in October. The moves will reduce Citigroup's head count from a high of 375,000 in 2007 to 300,000 now as CEO Vikram Pandit struggles to get the US banking group back on track amid ...
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PropertyEU Archive
B&B's EUR 1.15bn deal leaves investors unmoved
Sydney-listed infrastructure and property asset manager Babcock & Brown announced a EUR 1.5 bn asset sell-off on Monday as investors concerned about the viability of the debt-laden company pushed its share price to a record low.
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PropertyEU Archive
JP Morgan brokers £237m deal with CWG for new European HQ
US bank JP Morgan (JPM) is set to relocate its European headquarters to London's Canary Wharf from the City after it struck a £237 mln (EUR 280mln) deal with Songbird Estates, the majority owner of the Canary Wharf Group (CWG). The financial group is buying the 999-year leasehold interest of ...
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PropertyEU Archive
IVG secures EUR 910m equity for caverns vehicle
German property giant IVG said it has raised EUR 910 mln from institutional investors for its new Caverns Fund. Back in September IVG announced it was selling 70 caverns, underground storage facilities for oil and gas, to the newly created Spezialfonds for EUR 1.7 bn.
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PropertyEU Archive
Colonial posts third-quarter loss of EUR 94m
Spanish property company Colonial posted a third-quarter loss of EUR 94 mln mostly due to a sharp devaluation of its property portfolio. The Barcelona-based firm, which earlier this year was partially taken over by banks after some of its shareholders failed to meet payments, said that the value of its ...
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PropertyEU Archive
Hypo RE seeks more state aid in battle for survival
Hypo Real Estate, the second largest property lender in Germany, plans to ask the government for a further bailout on top of the EUR 50 bn lifeline agreed in early October. ICEO Axel Wieandt said the bank is preparing an application to Soffin, the German bank rescue fund, 'seeking further ...
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PropertyEU Archive
Multi's Victoria Square in Belfast wins two awards
Multi Development UK has won two awards in one night for its £400 mln (EUR 475 mln) Victoria Square shopping centre scheme in Belfast. Multi was presented with the award for the Best Regeneration Project at the Belfast Awards last Friday.
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PropertyEU Archive
Miller completes purchase of Bulgaria's largest mall
UK construction group Miller Developments has completed the purchase of Mall Varna, the largest new retail and leisure development in Bulgaria, from developer Interservice Uzunovi.
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PropertyEU Archive
HSH confirms Nonnenmacher as CEO
German regional lender HSH Nordbank has officially appointed Dirk Jens Nonnenmacher as CEO. He replaces Hans Berger who stepped down last week acknowledging that the management under his leadership had failed to anticipate the severe effect the credit crunch would have on the company.
