All Real Assets articles in Web Issue – Page 333
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PropertyEU Archive
Fonciere Sepric launches IPO to adopt SIIC status
French property firm Fonciere Sepric said on Friday that it is launching an Initial Public Offering on Euronext Paris in order to achieve real estate investment trust or SIIC status in the first quarter of 2009. Founded in 1994, Fonciere Sepric invests in commercial property such as retail parks, and ...
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PropertyEU Archive
Kardan merger with GTC gets shareholder backing
The merger between Amsterdam and Tel Aviv-listed real estate firm Kardan and its GTC Real Estate unit has been approved. The proposal to merge the companies was passed at a extraordinary general meeting of shareholders in Kardan, GTC Real Estate and GTC last Thursday.
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PropertyEU Archive
Market woes force France, Italy to change REIT regimes
France and Italy are set to ease rules for real estate investment trusts (REITs) from next year as the listed tax transparent structures are coming under increasing pressure amid the global financial crisis. Real estate investment trusts are struggling to keep afloat as they suffer from a combination of lack ...
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PropertyEU Archive
Multi Corporation to launch major Turkish retail fund
Multi Corporation plans to launch a fund targeting regional retail developments in the Turkish market. The target size of the fund will be well in excess of EUR 1 bn, according to well-informed sources. It is believed the fund will be sourced by a group of leading international investors including ...
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PropertyEU Archive
Invista's French JV unit struggles to refinance debt
Investment manager Invista said on Friday that its French joint venture company Celsius is unlikely to achieve a refinancing with troubled Icelandic bank Kaupthing regarding a EUR 142 mln senior debt facility maturing at the end of December 2008. Invista said that it and its joint venture partner are still ...
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PropertyEU Archive
Icade puts entire housing portfolio up for sale
French property company Icade said on Friday that its chairman and chief executive Serge Grzybowski is considering the disposal of the entire housing portfolio to one or more investors at survey value. 'After this operation, Icade would distribute 50% of the capital gains from the disposal, as is provided by ...
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PropertyEU Archive
Finnish state transfers holdings in Sponda
The Finnish state has transferred its holding in listed real estate firm Sponda to state-owned vehicle Solidium. The operation involved the transfer of 38 million shares, roughly 34% of Sponda’s share capital. The Finnish state no longer holds any shares in Sponda.
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PropertyEU Archive
Cap & Reg sells Cardiff asset for EUR 18.7m
UK co-investing property asset manager Capital & Regional has announced that the Capital Retail Park Partnership has exchanged contracts for the sale of the Costco unit at the Capital Retail Park in Cardiff to a private investor for £16.95 mln (EUR 18.7 mln). The transaction volume represents a net initial ...
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PropertyEU Archive
LaSalle sees UK re-pricing as best bet since early 1990s
The re-pricing in the UK real estate market offers one of the best acquisition opportunities since the early 1990s, according to LaSalle Investment Management. In its Investment Strategy Annual report released on Monday, LaSalle said that the UK is leading the way in terms of re-pricing while for structural reasons ...
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PropertyEU Archive
IPD: UK property falls set to beat landmark 1990s crash
The negative returns for UK commercial property for 2008 look set to surpass the landmark losses recorded in 1990, on a real returns basis, IPD UK Index shows. All property total returns amounted to -18.2% over the 11 months to November 2008, compared to an inflation-adjusted return of -16.2% almost ...
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PropertyEU Archive
Spazio fund falls 50% short of disposal target for 2008
Spazio Investment, the Amsterdam-based industrial real estate firm managed by Italy's Pirelli RE, said that its Spazio Industriale fund is likely to miss its full-year disposal target. The company said in September it planned to dispose of up to EUR 140 mln of assets by the end of 2008, but ...
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PropertyEU Archive
Hercules sells Borehamwood shopping park for EUR 85m
Hercules Unit Trust ('HUT'), the specialist retail warehouse fund advised by British Land and managed by Schroders, has completed the sale of its Borehamwood Shopping Park in Borehamwood, UK. The buyer was a fund advised by LaSalle Investment Management. The total investment volume came to £80.6 mln (EUR 85 mln).
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PropertyEU Archive
AAIM CEO steps down as key fund collapses
The global financial crisis has claimed another real estate scalp following the resignation of James Elton as CEO of the celebrity UK property investor AAIM. Elton tendered his resignation shortly after one of AAIm's key funds was put into administration. The company has emphasised that the wider organisation is still ...
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PropertyEU Archive
King Sturge Spain to file for administration
The Spanish arm of UK property services firm King Sturge is to file for administration due to the crisis in the financial markets and the slowdown in the Spanish property sector, Spanish paper La Gaceta de los Negocios reported on Monday. The broker has a staff of around 100 ...
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PropertyEU Archive
E-shelter to build largest data centre in UK
Broker King Sturge has advised European data centre development specialist E-shelter on the purchase of a brownfield site in Buckinghamshire that will be developed into the largest data centre campus in the UK.
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PropertyEU Archive
Less speculative building may lead to office scarcity in CEE
Global property advisor DTZ has warned that the sharp decrease in speculative development in Central and Eastern Europe may lead to the lack of new modern office space. With bank financing becoming increasingly difficult to obtain, the amount of speculative development has plunged in recent months, raising concerns that demand ...
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PropertyEU Archive
Lloyd Fonds buys Fleesensee hotel project
Hamburg-based Lloyd Fonds AG has acquired the Fleesensee hotel project in Mecklenburg, northern Germany from developer GBI. The transaction volume amounts to EUR 18 mln. The four-star hotel is scheduled to open in July 2009. It will have 156 rooms and suites as well as a spa and fitness ...
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PropertyEU Archive
KPP Retail buys land for retail schemes in Poland
Keen Property Partners Retail (KPP Retail), a newly created shopping centre investor and developer active in the Polish market, has secured several land plots for the construction of new retail centres in the country, says managing director Richard Keen. The acquisition follows hard on the heels of KPP Retail's purchase ...
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PropertyEU Archive
CNCE in talks with Nexity for Credit Foncier de France stake
French property group Nexity said on Monday it is in talks with banking giant Caisse Nationale des Caisses d'Epargne (CNCE) to sell its 23.4% stake in Credit Foncier de France. The company said the negotiations centre on a cash offer, and the transaction is expected to be completed in early ...
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PropertyEU Archive
IVG confiorms Cornhill sale to SWF
The London branch of IVG Development, a subsidiary of IVG Immobilien, has confirmed it has sold its development at 14 Cornhill in London for EUR 140 mln to a sovereign wealth fund. As reported earlier in PropertyEU it is understood the buyer was Libya's sovereign fund but IVG did ...
