All Real Assets articles in Web Issue – Page 339
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PropertyEU Archive
German office prices set to fall by over 25% - Henderson
Prices for offices in Germany's seven top-A office locations are set to fall by over 25% in 2009, according to the latest forecast from Henderson Global Investors. As a result, gross initial yields in those locations will rise from around 4.5% to 6.1%.
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PropertyEU Archive
Topland close to completing EUR 350m purchase from Eroski
UK private investor Topland is close to completing the acquisition of EUR 350 mln worth of retail assets in Spain, according to sources with knowledge of the deal. The transaction, a sale-and-leaseback structure with Eroski, the Basque hypermarket chain, is expected to close in early 2009 and is the second ...
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PropertyEU Archive
EUR 50bn hovering over European property - JLL
More than EUR 50 bn of equity capital is targeting European commercial real estate this year, Jones Lang LaSalle says in its latest European Capital Markets outlook paper 'Time for Decisions'.
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PropertyEU Archive
German open-ended funds see EUR 721 mln outflows in November - BVI
German open-ended property funds recorded net outflows of around EUR 721 mln in November 2008, according to new figures from investment and asset management body BVI. This marks a sharp drop on October, when investors withdrew almost EUR 5.1 bn before a number of funds imposed a three-month halt on ...
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PropertyEU Archive
L&S buys prime London asset for £74m
AIM-listed property investment company London & Stamford (L&S) said on Tuesday it has exchanged contracts with Legal & General Assurance to acquire One Fleet Place, EC4, London for £74 mln (EUR 80 mln). The 170,000 sq ft (16,000 m2) prime City of London office building is mainly let to ...
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PropertyEU Archive
Calyon buys Colonial stakes in FCC, SFL
Spain's troubled property company Colonial said on Tuesday that French investment bank Calyon is exercising its call option to buy part of Colonial's stake in units Fomento de Construcciones y Contratas (FCC) and Societe Fonciere Lyonnaise (SFL). Calyon has bought a 3.39% stake in FCC and a 8.8% interest in ...
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PropertyEU Archive
ULI chief operating officer Jon Ladd dies suddenly
Jon Ladd, chief operating officer of the Urban Land Institute for Europe, the Middle East, Africa and India (EMEAI) passed away on 4 January after a brief illness, ULI said in a statement late on Monday. He was 45.
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PropertyEU Archive
Deutsche EuroShop takes majority stake in City-Point Kassel
Deutsche EuroShop has taken a majority stake in City-Point Kassel mall in Germany. The MDAX-listed shopping centre firm increased its shareholding in the asset from 40% to 90% by acquiring shares from Arcandor, the investment company that owns the majority of the German department stores operated by Karstadt. The investment ...
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PropertyEU Archive
Corio closes EUR 100m loan with ING, sells assets
Dutch listed retail property group Corio has closed a EUR 100 mln loan with ING Real Estate Finance. The financing has a duration of two years and an interest rate of three months Euribor with a 250 basis points spread, the company said. The proceeds will be used for general ...
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PropertyEU Archive
London commercial property investment fell 65% in 2008 - C&W
Investment in commercial property in Central London fell 65% to only £6.8 bn in 2008, down from 2007's record figure of £19.4 bn, according to international property services firm Cushman & Wakefield.
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PropertyEU Archive
CBRE sees no recovery in the Irish market until 2010
CB Richard Ellis expects 2009 to be a very challenging for the Irish property market. In its annual Outlook report on the Irish market, the international broker is negative about 2009 prospects for the industry, and says it will likely be 2010 before conditions in the Irish property market improve.
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PropertyEU Archive
Marks & Spencer to close down 27 shops
UK high street retailer Marks & Spencer (M&S) said on Wednesday that it plans to close 27 shops in the UK as a result of falling consumer demand over the last three months. As part of its third quarter interim management statement, M&S announced the proposed closure of 27 stores, ...
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PropertyEU Archive
Zublin sells assets in Switzerland and Germany for EUR 37m
Listed Swiss firm Zublin Immobilien has concluded the sale of an office building in Switzerland and a retail property in Germany for a total of CHF 56.3 mln (about 37 mln). The sales prices of both transactions were in line with IFRS fair values at end- September 2008.
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PropertyEU Archive
Trading volumes in Central Europe down 50% - C&W
The real estate investment market in Central Europe experienced a major reversal in 2008 as the global financial crisis transformed into an economic slowdown. Cushman & Wakefield reported that total investment volume for the region declined to just EUR 3 bn, 50% of the average recorded over recent years. The ...
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PropertyEU Archive
Pramerica buys London office property for £52m
UBS Global Asset Management, advised by King Sturge, has sold the 11 Pilgrim Street office building in the City of London to US investor Pramerica for £52 mln (EUR 58 mln). The transaction reflects a net initial yield of 7.5%.
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PropertyEU Archive
Doughty Hanson buys Salisbury mall for £60m
European property fund manager Doughty Hanson & Co Real Estate announced on Wednesday that it has completed the acquisition of the Old George mall in Salisbury, England, from the Salisbury Partnership, a joint venture between clients of Prupim and Rockspring. The transaction amount comes to £60 mln (EUR 66 mln).
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PropertyEU Archive
Sainsbury's sells two stores for £86m
UK retailer Sainsbury's said in an interim statement on Thursday that it has sold the freehold of two stores in the UK for a total of £86 mln (EUR 95 mln). The transactions reflect a yield of 5.5%. The retail giant said that the sales are in line with its ...
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PropertyEU Archive
JLL appoints new head of CEE Capital Markets business
Global property advisor Jones Lang LaSalle has announced the appointment of Tomasz Trzoslo as the regional director of its Central & Eastern Europe (CEE) Capital Markets and Investment business encompassing four countries. Trzoslo, who assumes his new role in January 2009, was formerly the head of JLL's Poland Capital Markets ...
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PropertyEU Archive
Henderson appoints new portfolio manager for Herald fund
Henderson Global Investors has appointed Katherine Croom as portfolio manager for its sector specialist pan-European retail property fund, Herald. Croom joins from CBRE's London Retail Development team where she provided advice to both investors and retailers on a number of large mixed-use shopping centre schemes at different stages of the ...
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PropertyEU Archive
Atrium names chief financial officer
Listed property group Atrium European Real Estate said on Wednesday that it has appointed Robert Bolier as chief financial officer (CFO). Bolier has over 20 years experience in financial management and strategy at a number of leading global corporations. He joins Atrium from Meretec where he was CFO since 2007.
