All Real Assets articles in Web Issue – Page 330
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PropertyEU Archive
TCN focuses on investment as development stalls
Netherlands-based developer TCN has shifted its focus to investment because the prospects for the development business have been drastically reduced in the wake of the global financial crisis and the economic downturn.
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PropertyEU Archive
Standard Life ups stake in Grainger
Standard Life Investments has increased its stake in Grainger, the largest listed residential landlord in the UK, to just 5%, taking advance of the property firm's low share price.
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PropertyEU Archive
Top deals Week 49 (1-5 December 2008)
The largest deal recorded by PropertyEU between 1 - 5 December was the agreement by Spain's debt-strapped property giant Metrovacesa to sell the HSBC headquarters in Canary Wharf, London back to HSBC for a total of £838 mln (EUR 968 mln). HSBC financed the transaction last May and is booking ...
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PropertyEU Archive
Stock market watchdog approves Colonial's EUR 1.43b bond issue
Spanish property company Colonial said on Friday that the stock market regulator CNMV has approved a plan by the company to issue convertible bonds worth EUR 1.43 bn to reduce the group's net financial debt by up to 16%. Colonial said shareholders will have an option to buy the bonds ...
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PropertyEU Archive
Aedes approves EUR 150m capital injection by Amenduni-Isoldi JV
Italian real estate company Aedes Immobiliare said its board has approved a bid by a joint venture of Vi-Ba, part of Italian steel group Amenduni, and real estate firm Isoldi Immobiliare, to buy a stake in the Milan-based firm as part of a EUR 150 mln capital increase. The company ...
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PropertyEU Archive
Financing will be Asia's single biggest issue in 2009, says ULI
Industry experts expect Asia's day of reckoning is just around the corner, and anticipate falling asset prices, deteriorating debt markets, increasing bankruptcies, and plummeting transaction volumes as the financial crisis travels the globe, according to the Emerging Trends in Real Estate Asia Pacific 2009 report, released this week by the ...
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PropertyEU Archive
Marshall Capital Partners set to launch $500m Russian fund
Marshall Capital Partners is raising up to $500 mln for an opportunity fund targeting real estate assets across Russia. The fund will be managed by the newly-established Marshall Real Estate Management and will be overseen by Michael Golomb, who was recently appointed as managing partner.
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PropertyEU Archive
HSBC agrees to buy back Canary Wharf's HQ for £838m
HSBC said on Friday it has agreed to buy back its global headquarters in London's Canary Wharf from Spain's troubled property company Metrovacesa for a total of £838 mln (EUR 968 mln). The bank said it is booking a gain of approximately £250 mln in its second-half results.
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PropertyEU Archive
British Land reignites talks to sell Meadowhall stake - report
UK REIT British Land is said to have revived talks to sell a large stake in its £1.4bn (EUR 1.6 bn) Meadowhall shopping centre in the north of England. According to an article in the Financial Times, a joint venture between London & Stamford and an Abu Dhabi sovereign wealth ...
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PropertyEU Archive
Less speculative building may lead to scarce office space:DTZ
A sharp decrease in speculative development across the Czech Republic may lead to the lack of new modern office space in two years' time, says international property services firm DTZ. As a result of the deepening global financial crisis, developers are no longer building on such a speculative basis, a ...
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PropertyEU Archive
New UK firm looks to raise property funding in Middle East, US
Real Estate Capital Group (Recap) has been launched in the UK to raise equity finance for the real estate industry from the Middle East and the US at a time that the industry is starved of bank lending.
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PropertyEU Archive
New management Immofinanz ends 'Petrikovics era'
The question of what happened to the EUR 512 mln which went 'missing' under former Immofinanz/Immoeast CEO Karl Petrikovics has been resolved, the new management of the Vienna-based concern has announced. 'Most of the money was evidently used to purchase shares, and some to purchase investments within Constantia Privatbank. ...
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PropertyEU Archive
KPP Retail makes first Polish investment
Polish investor Keen Property Partners Retail (KPP Retail) said on Friday that it has made its first acquisition with the purchase of Park Handlowy Eden in Zgorzelec and Centrum Handlowe Graf in Chelm, Eastern Poland. The total transaction volume comes to EUR 24 mln.
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PropertyEU Archive
Immofinanz sells assets for EUR 130 mln
Struggling real estate group Immofinanz has sold assets in its native Austria for EUR 130 mln to shore up its badly squeezed financial situation. The firm has to sell properties to meet the need to raise more than EUR 100 mln by the end of the year.
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PropertyEU Archive
Office prices fall 20% across Europe - Savills
Prime office space across Europe has become on average 20% cheaper, research up to the end of the third quarter of 2008 by international broker Savills has indicated. Average yields for central business districts (CBDs) across the Continent stand at 6%.
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PropertyEU Archive
Grainger sells Victorian school site in London for EUR 22m
Grainger, the largest listed residential landlord in the UK, is selling a Victorian school site in north London to Hertfordshire-based developer Mount Anvil for EUR 22 mln. International broker Savills, which advised Grainger, said the contracts have been completed for the site known as the Barnsbury Complex in London.
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PropertyEU Archive
Axa spends EUR 40 mln in Sweden
Swedish private equity firm Sveafastigheter has sold part of the newly developed retail park Hansa City in the Swedish city of Kalmar to German property fund managed by AXA Investment Managers Deutschland for EUR 40 mln.
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PropertyEU Archive
RICS forecasts total fall in UK capital values of 50%
UK commercial real estate capital values could decline by 50% over the life cycle of the current downturn, the Royal Institute of Chartered Surveyors (RICS) has warned. RICS bases the forecast on its assessment that capital values could decline by 16% in 2009 with a further drop of up to ...
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PropertyEU Archive
Trigranit slashes EUR 8bn pipeline in half
Trigranit has cut its EUR 8 bn development pipeline in Central and Eastern Europe by half due to the worsening financial crisis, the company's spokesperson, Tábori György, confirmed on Monday. Aside from scrapping EUR 4 bn worth of projects, investments in the remaining schemes may be postponed by up ...
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PropertyEU Archive
CBRE picked as primary advisor to US deposit fund's portfolio
CB Richard Ellis has been selected as the primary advisor to the US Federal Deposit Insurance Corporation (FDIC) for portfolios of real estate taken over from financial institutions felled by the credit crisis.
