All Real Assets articles in Web Issue – Page 344
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PropertyEU Archive
IC Immobilien appoints new board member
Germany's IC Immobilien said on Monday that its supervisory board has appointed Oliver Priggemeyer to the management board. From 1 February 2009 he will head the Asset Management and Property Management divisions. Prior to his transfer to IC Group, Priggemeyer served as chief operating officer on the board of ...
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PropertyEU Archive
Credit Suisse extends redemption ban on its Euroreal fund
Credit Suisse Asset Management is extending a ban on withdrawals from its EUR 6.5 bn German open-ended fund CS Euroreal for an additional nine months as it fears a new massive wave of redemptions from investors. CS Euroreal is the first of several open-ended funds which halted redemptions in October ...
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PropertyEU Archive
Hammerson puts London property on the market
UK REIT Hammerson is putting its largest property up for sale in a bid to shore up its financial position. The company has reportedly hired CB Richard Ellis to market the 773,931 sq ft (72,000 m2) Bishops Square office development in the City of London for more than £500 mln ...
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PropertyEU Archive
Prologis leases 28,000 m[sup]2[/sup] in the UK
Prologis, the global provider of distribution facilities, has leased more than 28,000 m[sup]2[/sup] of new space at two major parks in the UK. The group leased 17,500 m[sup]2[/sup] of space at its Kingston industrial park to Samson Holding, an investment holding company involved in manufacturing and trading of residential furniture. ...
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PropertyEU Archive
Land Securities carried out almost £1 bn of sales in Q4 2008
Land Securities said it will continue to focus on balance sheet management and leasing following the accelerated deterioration of the market in the last quarter of 2008.
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PropertyEU Archive
Warburg Henderson launches EUR 1bn platform
Germany's Warburg Henderson said on Tuesday that it is launching a new platform for institutional investors. The vehicle will seek to raise EUR 1bn in equity a year from a range of source including German and international investors, asset managers and developers.
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PropertyEU Archive
UK property funds return -18.7% in Q4 2008
The Investment Property Databank (IPD) said that total returns for its UK Pooled Property Fund Index were -18.7% in the fourth quarter of 2008, taking annual returns for 2008 to -32.0%. This compares to -6.7% over 2007.
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PropertyEU Archive
Istanbul office rents rose 19% in 2008: Savills
Istanbul's office rental market has seen a 19% growth over the past 12 months, with the average rent in the city reaching $21.90 m2/month, according to a report issued on Tuesday by Savills' Turkish associate Kuzey Bati.
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PropertyEU Archive
Invesco buys Czech mall for EUR 50m
Global property investment manager Invesco Real Estate has acquired a shopping centre in the Czech spa town of Karlovy Vary for EUR 49.6 mln, a net yield of 7%. The acquisition from Carpathian Properties s.a r.l. was made on behalf of Invesco's Central and Eastern European Real Estate II Fund ...
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PropertyEU Archive
SCD acquires Budapest site for mixed-use project
Hungarian developer SCD Group has bought a 12.6-hectare site in Buda, the prime residential district of Budapest, for HUF 6.85 bn (EUR 25 mln). The acquisition was financed by MKB Bank, the Hungarian subsidiary of Bayerische Landesbank.
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PropertyEU Archive
BAA's Gatwick airport receives six offers
BAA, the UK airport operator owned by Spanish group Ferrovial, has received at least six non-binding bids for London's Gatwick Airport, the Financial Times reported on Tuesday.
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PropertyEU Archive
DTZ confirms board changes
Property broker DTZ announced a series of board changes on Tuesday to make way for three representatives of French shareholder Saint George Participations. Frank Piédelièvre, Pascal Derrey and François Tardan have joined the board of DTZ as non-executive directors. As a result, executive directors Robert Peto, Killian O'Higgins and David ...
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PropertyEU Archive
Zublin Immobilien sells two properties in Switzerland
Listed Swiss property firm Zublin Immobilien announced on Tuesday that it has completed the sale of its two investment properties in Wettingen, Switzerland. The combined net proceeds, after taxes and transaction costs, were CHF 33.2 mln (EUR 20.5 mln).
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PropertyEU Archive
Firm disposes of 100,000-m[sup]2[/sup] land plot for under EUR 2m
A subsidiary of Lewis Charles Sofia Property Fund has sold a 100,000-m[sup]2[/sup] plot of development land in Bulgaria for less than EUR 2 mln to generate enough cash to survive the credit freeze.
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PropertyEU Archive
Allianz Real Estate to spend EUR 10bn
Munich-based Allianz Real Estate plans to spend at least EUR 10 bn over the next five years around the world and potentially double the size of the firm's property portfolio. President and CEO Olivier Piani said the company will focus primarily on markets outside Europe.
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PropertyEU Archive
Qatari Diar sells 20% of Paris conference centre for EUR 100m
Qatari Diar, the real estate investment arm of the Qatari government, said on Wednesday that it is selling a 20% stake in the Centre International de Conferences in Paris to HongKong and Shanghai Hotels (HSH) for EUR 100 mln.
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PropertyEU Archive
Hypo receives additional injection of EUR 12bn in state guarantees
Hypo Real Estate Bank has announced that the German stabilisation fund SoFFin has increased its guarantee agreement by an additional EUR 12 bn. This bring the total state guarantee package granted by SoFFin to Hypo to EUR 42 bn.
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PropertyEU Archive
Great Portland sees portfolio value plunge 12.4%
Great Portland Estates, the Central London office and retail specialist, said on Thursday that the value of its property portfolio has dropped by 12.4% since September 2008, highlighting the rapid pace of the slide of values in the UK real estate sector.
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PropertyEU Archive
Conwert sold EUR 200m of property in 2008
Vienna-listed property company Conwert Immobilien Invest said on Thursday that it met its target of EUR 200 mln in assets sales in 2008. The volume of sales exceeded EUR 90 mln in the fourth quarter of the year despite the acceleration of the economic downturn and the worsening in the ...
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PropertyEU Archive
Top 300 deals in 2008
The final transaction volume recorded by PropertyEU for large European real estate deals in 2008 is EUR 68.13 bn. This is a revision of the preliminary estimate of about of EUR 66 bn published in our ranking of the top 300 deals in the December edition of PropertyEU Magazine.
