All Real Assets articles in Web Issue – Page 342
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PropertyEU Archive
Redevco scales down investment activity
European retail property specialist Redevco plans to scale down its investment activity on balance in the coming year, CEO Jaap Blokhuis told the annual PropertyNL forum in Amsterdam on Tuesday. 'We are seeking to sell a few hundred million worth of assets and to buy a similar amount of new ...
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PropertyEU Archive
DTZ names new capital markets head
Global property adviser DTZ said on Tuesday it has appointed Serkan Bektas as the new global head of its capital markets business. Serkan, who will join the company by the second quarter of 2009, was managing director of UK Solutions and Structured Product Sales at UK bank Barclays Capital. Previously ...
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PropertyEU Archive
Defo buys in London for EUR 44m
Germany's Defo has made its first acquisition in London with the purchase of the 1 Plough Place office and commercial building for around EUR 44 mln. Defo, which is part of Union Investment, said the acquisition allows it to take advantage of the profitable exchange rate and of opportunities that ...
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PropertyEU Archive
French investment volumes down 54% due to credit squeeze
Some EUR 13 bn was invested in French commercial property in 2008, less than half the EUR 28.5 bn registered the previous year, according to a report by property adviser Cushman & Wakefield. Describing 2008 as a 'breaking point' year, C&W said the swing in the market comes after four ...
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PropertyEU Archive
Helaba provides EUR 77m loan for Czech acquisition
German regional bank Helaba has structured and concluded a EUR 76.7 mln financing for the acquisition of the Nisa shopping centre in the Czech city of Liberec by one of ING real Estate's funds. Helaba said it acted as sole arranger and lender to provide the loan just five weeks ...
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PropertyEU Archive
Ric Lewis to maintain role with AEW funds
Veteran real estate professional Ric Lewis is to continue his involvement with AEW Europe's key property funds when he steps down as chief investment officer in April to set up his own investment company.
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PropertyEU Archive
Atrium alters equity raising, eyes second listing in Amsterdam
Vienna-listed Atrium European Real Estate has unveiled a new EUR 72 mln equity raising that replaces the EUR 300 mln rights issue signalled when Citi Property Investors and Israel's Gazit-Globe agreed to invest up to EUR 800 mln in the company last year.
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PropertyEU Archive
Norwegian Property appoints Richardsen as property manager
Norwegian Property has appointed Rune Richardsen to the position of property manager. The company said Richardsen has extensive experience in commercial property management and was previously property manager at SpareBank1 Gruppen Eiendom from 1997. Before this he was managing director of OBOS Næringsforvaltning, the commercial property management arm of OBOS.
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PropertyEU Archive
Mipim confirms Russian cancellations
Reed Midem, the organiser of the Mipim international property market in Cannes, has confirmed media reports that a number of Russian firms will not be showcasing their projects at this year's fair due to the economic downturn. Russian daily Kommersant reported on Sunday that Inteco, Mirax Group, Don-Stroï, AFI Development, ...
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PropertyEU Archive
Treveria drops Dawnay Day from name
AIM-listed Treveria formally dropped Dawnay Day from its title on Wednesday, reflecting the moves by Treveria and other listed property funds created by Dawnay Day Group (DDG) to continue as independent entities following the collapse of DDG last summer.
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PropertyEU Archive
Fabege signs major leasing deal with energy giant
Listed real estate firm Fabege has announced that Swedish energy giant Vattenfall has signed an agreement to lease 43,000 m[sup]2[/sup] of office space and parking space in the Solna district of Stockholm municipality. The deal is worth SEK 1.2 bn (EUR 109 mln).
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PropertyEU Archive
UK listed sector heading for negative equity, JPMorgan warns
The UK's listed property sector is set to run into negative equity territory by the end of 2009, real estate analysts at JPMorgan have warned.
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PropertyEU Archive
RBS puts 1,000-pub portfolio on the market
The Royal Bank of Scotland (RBS) has reportedly put its 1,000 pub estate up for sale, according to a report in the Financial Times. The bank is seeking a buyer for the freeholds, which include the Punch Bowl in Mayfair. The portfolio is estimated to be worth more than £600 ...
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PropertyEU Archive
Colonial raises EUR 1bn from sale of FCC, SFL stake
Spanish troubled property company Colonial said that it has raised EUR 1.043 bn from the sale of a 14.31% stake in construction group Fomento de Construcciones y Contratas (FCC) and a 30.56% interest in France's Societe Fonciere Lyonnaise. The capital will be used to pay down its EUR 7 bn ...
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PropertyEU Archive
BBVA close to strike EUR 2.6 bn sale-and-leaseback deal
Spanish bank BBVA is close to completing the sale-and-leaseback of its entire real estate portfolio worth a total of EUR 2.6 bn, PropertyEU has learnt. The bank, which was rumoured in June 2008 to have put its real estate on the market, is understood to have hired CB Richard Ellis ...
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PropertyEU Archive
European investment activity slows further in Q4, says CBRE
European commercial real estate investment slowed down further in the fourth quarter of 2008, with total volumes reaching EUR 19.5 bn, according to research by international property services firm CB Richard Ellis. This represents a 30% decrease on levels of EUR 27-28 bn registered for the second and third quarter ...
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PropertyEU Archive
DIC Asset invests EUR 75m in restoration of Frankfurt's historic building
Germany's DIC Asset said on Thursday that it has completed the restoration and restructuring work on the historic Bienenkorbhaus building on Frankfurt's boulevard Zeil on schedule. It added that 80% of the property has already been let and delivered to the new tenants. The asset comprises 10,500 m[sup]2[/sup] of ...
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PropertyEU Archive
Summit warns of likely breach of LTV covenants
AIM-listed German commercial property investment company Summit Germany said on Thursday that it is likely to start renegotiating the financing term of its credit facilities as it risks breaching loan-to-value covenants due to a sharp fall in the value of its property portfolio.
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PropertyEU Archive
Real I.S. buys Madrid office building
Germany's Real I.S. said it has acquired a property in the Julian Camarillo office district of Madrid in a EUR 28 mln sale and leaseback with IT company Firma Atos Origin. The asset is earmarked for the institutional investment fund BGV Bayerische Grundvermögen III SICAV FIS. The four-storey building has ...
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PropertyEU Archive
Listed firms should consider equity raising: JPMorgan
Listed real estate companies in Europe have been too passive in the face of potential cost of defaulting on loans and many should consider undertaking equity-raising exercises, according to a report from JPMorgan.
