All Real Assets articles in Web Issue – Page 346
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PropertyEU Archive
Savills names Navarro as head of capital markets in Madrid
International property broker Savills has named Jose Navarro as head of capital markets in Madrid. Navarro will also assume responsibility as assistant general manager, assisting the company's existing head of Spain, Rafael Merry del Val.
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PropertyEU Archive
CBRE opens China desk for EMEA region
CB Richard Ellis (CBRE) has opened a China Desk to co-ordinate inbound and outbound cross-border activity between the Europe Middle East and Africa (EMEA) region and Greater China. The broker said that there is growing interest among its clients in investing in the Asian tiger.
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PropertyEU Archive
PWC sees rental cuts for UK retailers
Financially troubled retailers have been closing more than two in five stores in the UK as the high street comes under increased pressure, according to a new report issued by PricewaterhouseCoopers (PwC) on Friday. PwC examined the administration announcements of 22 troubled retailers and found that on average they were ...
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PropertyEU Archive
Degi ends suspension of redemption for Degi International
Degi, part of Aberdeen Property Investors, will end the three-month suspension of redemptions for its Degi International fund effective 30 January 2009. It is the first of 12 temporarily frozen German open-ended funds to end a ban on withdrawals implemented in end-October. Credit Suisse Asset Management, Morgan Stanley, AXA, KanAm ...
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PropertyEU Archive
Unibail-Rodamco
Dutch housing corporation Ymere has acquired the 'Huys Europa' office building in central Amsterdam from Altera Vastgoed for close to EUR 23 mln. An article published in our newsletter on 22 January incorrectly stated that international property group Unibail Rodamco had acquired the property.
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PropertyEU Archive
Prologis leases 423,000 sq ft in Western Germany
Prologis, the global provider of distribution facilities, announced on Monday that it has leased 423,000 sq ft (40,000 m2) of recently completed distribution space in western Germany to LGI Logistics Group International, a subsidiary of the Willi Betz Group and one of Germany's largest providers of third-party logistics services.
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PropertyEU Archive
European property investment falls 61% in 2008 says Atisreal
European commercial property investment fell 61% in 2008, while offices take-up dropped 19%, according to the latest European market indices report issued by Atisreal. The report, which measures prime data across seven major European cities, said that prime yields across Europe have continued to rise since the summer and there ...
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PropertyEU Archive
ING unveils EUR 600m writedowns on real estate
Dutch financial giant ING said on Monday that it expects to post real estate writedowns of EUR 600 mln in the fourth quarter, accounting for half of the group's total real estate writedowns for the full year (EUR 1.2 bn). The correction in the value of its real estate was ...
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PropertyEU Archive
Warburg - Henderson acquires retail warehouse in Austria
Hamburg-based Warburg - Henderson has acquired the new Telfspark in Tyrol for about EUR 18 mln on behalf of the joint venture's Osterreich Fonds Nr. 1. The retail warehouse centre, situated directly adjacent to Autobahn A12, was opened in September 2008. It has a lettable area of around 9,400 m[sup]2[/sup] ...
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PropertyEU Archive
Jelmoli shareholders back creation of listed property arm
Zurich-based retail and property group Jelmoli Holding is to spin off its real estate activities into a separate listed company. Shareholders backed the board's proposal to create two focused listed entities, one for investment and one for real estate, during an extraordinary general meeting last week.
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PropertyEU Archive
Richard Bains joins Rockspring as fund manager
Rockspring Property Investment Managers has appointed Richard Bains as fund manager. Based in London Bains will report to fund director, Neal Shegog.
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PropertyEU Archive
Norwegian Property names new CFO
Norwegian Property has appointed Mari Thjomoe to the position of chief financial officer (CFO). Thjomoe has broad experience in accounting and finance, recently as executive vice president and CFO of KLP, one of Norway's largest players within life insurance and pension funds. At KLP her responsibilities also included the group's ...
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PropertyEU Archive
Hermes RE unveils management changes
Property fund manager Hermes Real Estate has unveiled a series of management changes aimed at expanding its real estate activites. The group said it has appointed Steven Grahame as chief investment officer of the new Alternative business unit, which will focus on investment in real estate debt, equities and derivatives. ...
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PropertyEU Archive
Hypo RE concludes management reshuffle
Hypo Real Estate Group announced a raft of appointments and resignations on Monday which conclude the re-organisation of its management structure. The restructuring began in October last year when the troubled property financier was saved from collapse by a EUR 50 bn public-private bailout. Germany's bank rescue fund SoFFin has ...
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PropertyEU Archive
IVSC to issue guidance on valuing property under construction
The International Valuation Standards Council (IVSC) has announced it is to issue guidance on how to measure the value of investment property under construction. London-based IVSC is to issue a discussion document with a draft guidance in the second quarter of 2009. To bridge the gap in the meantime the ...
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PropertyEU Archive
Henderson sets its sights on New Star
UK asset manager Henderson Group has indicated that it is interested in acquiring ailing fund management firm New Star. Responding to newspaper reports, Henderson confirmed it is in discussions with New Star 'regarding a possible transaction, including a possible offer for New Star'. But Henderson cautioned there was no certainty ...
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PropertyEU Archive
Dutch investor sells EUR 14m of real estate
Dutch investor Naftali Elburg has sold a mixed portfolio of properties to various private investors for EUR 14 mln. The transactions involved two hotels, office space, residential units and retail properties.
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PropertyEU Archive
BNL fund forced to sell off EUR 260m of assets
BNL Fondi Immobiliare said on Tuesday that it will go ahead with the disposal of EUR 260 mln of assets owned by its listed closed-end fund Portfolio Immobiliare Crescita fund after the Bank of Italy rejected a plea to extend the life of the fund due to the difficult market ...
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PropertyEU Archive
Kardan Israel writes off EUR 45m due to merger
Kardan Israel, a 73.6% subsidiary of Dutch-registered international investment company Kardan, has announced it is to write off about EUR 45 mln as a result of the merger with its GTC Real Estate unit.
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PropertyEU Archive
Unilever pension fund to dispose of EUR 600m of property
Progress, the pension fund of soap-to-soup manufacturer Unilever, has instructed CB Richard Ellis to market its Dutch direct property portfolio worth about EUR 600 mln.
