All Real Assets articles in Web Issue – Page 335
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PropertyEU Archive
Metrovacesa cuts project pipeline
Spanish property firm Metrovacesa has reduced its development pipeline to just 12 projects from 19 at the beginning of the year as part of a programme to reduce its gearing. The company said it has halted development on three shopping centres located in the Spanish cities of Valdebebas-Madrid, Cieza-Murcia and ...
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PropertyEU Archive
Finance director to take helm at Lend Lease
Lend Lease has named its finance director Steve McCann as the new CEO of the Australian-based property group. McCann will formally take over as group managing director from current CEO Greg Clarke in early 2009 following a transition period.
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PropertyEU Archive
HSH Nordbank to sharpen German focus
Regional German bank HSH Nordbank will in future concentrate its real estate activities more strongly on northern Germany and the domestic market as part of a strategic reorientation, the bank said this week.
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PropertyEU Archive
AMB leases 21,000 m[sup]2[/sup] in Brussels
International industrial real estate developer AMB Property Corporation has leased approximately 20,600 m[sup]2[/sup] of its Brussels development, AMB Boom Distribution Center, to No Limit!, part of the French Staci Group.
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PropertyEU Archive
Multi closes EUR 4.3b Turkey retail vehicle
Multi Corporation, Europe's largest retail developer, confirmed the launch of a multi-billion-euro Turkish retail fund on Thursday as reported by PropertyEU last week. Multi Retail Turkey fund is a real estate development platform consisting of 21 shopping centres that are either completed, under construction or planned throughout Turkey with a ...
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PropertyEU Archive
DIC Asset sells assets for EUR 36m
Frankfurt-based DIC Asset said it has sold commercial real estate in Germany for a total transaction volume of EUR 36 mln 'in spite of the difficult market environment'. The assets are in Bavaria, Berlin and the Ruhr area, and the company said last year's book and market values of the ...
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PropertyEU Archive
C&W wins contract for Treveria's 450 German retail properties
International broker Cushman & Wakefield has won the mandate to manage the 450 retail properties in Germany owned by AIM-listed Dawnay, Day Treveria. The portfolio comprises some 1.5 million m[sup]2[/sup] of lettable area in 250 locations throughout Germany.
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PropertyEU Archive
Barratt sells more WBD assets for EUR 49m
UK house builder Barratt Development has sold industrial land and buildings held by Wilson Bowden Developments (WBD) for £46 mln (EUR 48.8 mln) to an unnamed buyer. Barratt acquired WBD in April 2007 and embarked on a programme to dispose of £200 mln of property assets owned by WBD.
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PropertyEU Archive
Beni Stabili closes EUR 50m worth of deals
Italy's Beni Stabili has closed sales totalling EUR 50 mln in the past two months. The listed office-focused firm said this week it sold an office building in Milan's Via Colonna for EUR 32 mln, in line with the asset's market value. The company did not disclose the buyer.
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PropertyEU Archive
Tenant risk may add to mall developers' troubles in CEE
Tenant demands form a growing risk for retail developers in Central and Eastern Europe, claims Rachel Lavine, CEO of Atrium European Real Estate (formerly Meinl European Land). 'We haven't seen this trend yet in Poland or the Czech Republic, but it wouldn't surprise me if we started seeing tenants demanding ...
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PropertyEU Archive
Hypo pledges full cooperation to probe of alleged market manipulation
Munich-based Hypo Real Estate said on Thursday it is cooperating fully with an investigation by German prosecutors into alleged market manipulation at the listed bank when it was seeking a multi-billion euro lifeline to survive the credit crisis.
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PropertyEU Archive
Fund backs e-shelter's data centre expansion
UK property funding specialist Pinder Fry & Benjamin
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PropertyEU Archive
British Land names Barclays boss as new CEO
UK REIT British Land announced on Thursday that Chris Grigg has been appointed Chief Executive of the company, succeeding Stephen Hester who moved to the Royal Bank of Scotland in October. Grigg will take up his new position on January 12, 2009.
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PropertyEU Archive
ICSC to focus on building links between groups
The International Council of Shopping Centers (ICSC) has announced that it will dedicate the third day of its 2009 European conference, being held from 22-24 April, entirely to building closer co-operation between investors, developers and retailers.
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PropertyEU Archive
First Industrial to shut down European operations
Industrial developer and investor First Industrial is closing down its European operations as part a series of actions aimed at cutting costs on the back of tighter credit market conditions. The US REIT, which entered Europe just over a year ago, said on Thursday it is 'discontinuing its European operations' ...
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PropertyEU Archive
Eurex to launch Europe's first property futures
International derivatives exchange Eurex has announced plans to launch Europe's first property futures on 9 February 2009. The futures will be annual contracts based on the total returns of Investment Property Databank's IPD UK Annual All Property Index for individual calendar years. Eurex and IPD signed a license agreement in ...
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PropertyEU Archive
Fair Value REIT sells to Spanish investors
German REIT Fair Value Immobilien has sold the Airport Office II property in Düsseldorf, Germany, for over EUR 15 mln. The new property, located in the vicinity of Düsseldorf International Airport's terminal building, was sold to an unnamed group of Spanish investors. Fair Value took over the development of the ...
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PropertyEU Archive
Goodman unveils two new projects in Lyon
Australian property group Goodman has unveiled two new logistics projects in the French city of Lyon for clients NYK Logistics and Hartmann France. The company recently opened an office in Lyon in view of future expansion of its business in the region. The new office is located within the Parc ...
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PropertyEU Archive
UniCredit pulls out of EUR 1bn property deal
Italian banking giant Unicredit said on Friday it is dropping a property disposal said to be worth over EUR 1 bn and will instead look at a smaller deal as a result of 'the current adverse market conditions'.
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PropertyEU Archive
Immoeast posts pre-tax loss of EUR 1.9bn in H1
CEE property investor and developer Immoeast said on Friday it booked a 'massive loss' in the first half of the year as a result of extensive depreciations on investment properties and development projects in the wake of deteriorating market conditions. Immoeast, part of Austrian group Immofinanz, said its earnings before ...
