All Real Assets articles in Web Issue – Page 351
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PropertyEU Archive
German cities top Emerging Trends ranking
Munich and Hamburg top the list of investment markets in Europe, according to the latest Emerging Trends in Real Estate Report published by the Urban Land Institute and PricewaterhouseCoopers. They are followed by Istanbul, Zurich, London and Moscow.
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PropertyEU Archive
Tenants willing to pay more for energy efficiency - study
Office users are willing to pay a higher rent for a more energy-efficient building, according to a study carried out by property adviser DTZ Zadelhoff and Delft University of Technology in the Netherlands. The study into office users’ accommodation preferences was carried out among 127 office users in the Netherlands.
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PropertyEU Archive
British Land, Hammerson seek to raise EUR 1.1bn
Two of the largest real estate investment trusts in the UK are set to announce rights issues this week to raise up to £1 bn (EUR 1.1 bn) to strengthen their balance sheets.
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PropertyEU Archive
Unibail-Rodamco: EPS up 8.4%, portfolio valuation down EUR 1.7 bn
Franco-Dutch property giant Unibail-Rodamco reported that the total value of its portfolio fell by EUR 1.7 bn in 2008, leading to a net loss of EUR 1.1 bn compared to a net profit of EUR 944 mln the year before.
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PropertyEU Archive
Neinver fund shops in Germany with EUR 110m deal
Neinver, a leading Spanish developer, asset manager and investor, has acquired the Zweibrucken Designer Outlet in Germany from a joint venture of UK firms Kenmore Property Group and Revcap for EUR 110 mln. The property will be held in the investment portfolio of Irus European Retail Property Fund.
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PropertyEU Archive
Insolvency in UK to rocket in 2009 - KPMG
Corporate insolvencies in the UK will rise dramatically in 2009 to 5,000 as all sectors of the economy are overtaken by the economic downturn, according to KPMG.
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PropertyEU Archive
Moorfield completes £30m sale-and-leaseback
London-based fund manager Moorfield Group has concluded a £30 mln (EUR 33.5 mln) sale-and-leaseback with leisure group Mitchells & Butlers for its 95,000 sq ft (8,826 m2) head office and adjoining 120-room hotel in Birmingham.
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PropertyEU Archive
Added-value strategy loses its shine - INREV
Non-listed property funds with an added-value strategy have lost some of their appeal in the difficult market conditions dominating Europe. A survey conducted by the European Association of Investors in Non-Listed Real Estate Funds (INREV) indicates investors are leaning towards the safer haven of core funds.
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PropertyEU Archive
Argo fund signs up four tenants for Ukraine mall
Argo Real Estate Opportunities Fund has signed up four new tenants for the Odessa Riviera Shopping City complex in Odessa, Ukraine. The four fashion brands Zara, Pull and Bear, Bershka and Stradivarius, will together occupy around 3,000 m[sup]2[/sup] of the 100,000 m[sup]2[/sup] centre, which is due to open its doors ...
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PropertyEU Archive
Shareholders left empty-handed by Babcock sell-off deal
Struggling listed infrastructure and property asset management group Babcock & Brown has reiterated there will be no value for shareholders and little or no value for holders of the company's subordinate notes after the implementation of a mass sell-off of assets to pay down its bank debt.
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PropertyEU Archive
MGPA and Concerto sign up major tenant at Lille park
MGPA, the private equity real estate investment advisory firm, and Concerto European Developer have announced that 43% of the Logiffine logistics park development in Lille has been let to logistics group Group Bils Deroo.
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PropertyEU Archive
Property funds warm to UK opportunities
The UK has overtaken France and Germany as the preferred location in Europe for investment by non-listed property funds, according to the Investors Intentions survey 2009 compiled by the European Association of Investors in Non-Listed Real Estate Vehicles (INREV). The survey also confirms that the UK office and retail sectors ...
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PropertyEU Archive
Land Securities gets green light for Victoria scheme
Land Securities, UK's largest REIT, said on Friday that it has been granted planning consent for its 138,000 m[sup]2[/sup] Victoria Transport Interchange (VTI2) scheme in London's West End from Westminster City Council.
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PropertyEU Archive
Westbrook allows investors to cut forward commitments by 10%
US private equity group Westbrook Partners is letting cash-strapped investors reduce forward commitments by 10%, according to an article in the Wall Street Journal. The paper reported that the group is making the offer to investors in its eighth fund, Westbrook Real Estate Fund 8, which closed in 2008 with ...
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PropertyEU Archive
Office take up across Europe falls by 27%
Overall take-up volumes in Europe during the fourth quarter of 2008 were down 27% on the previous year at 3 million m2, and down 2% quarter on quarter, according to Jones Lang LaSalle's Q4 2008 European Office Clock.
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PropertyEU Archive
Sberbank acquires complex in Moscow for $300m
Russian savings bank Sberbank has invested close to $300 mln (EUR 230 mln) in the acquisition of the Yuzhny Port office copmplex in Moscow from developer Midland Development, newspaper Vedomosti has reported. The centre, which is currently being renovated, comprises 57,000 m[sup]2[/sup] of office space that Sberbank has leased over ...
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PropertyEU Archive
Blackrock Intl sees 'disappointing' NAV drop of 36%
Blackrock International, the Dublin-based investment group, has seen its Net Asset Value fall by 36% in the course of 2008 as a result of deteriorating conditions in the property market. The company said that its NAV per share is expected to amount to slightly more than EUR 0.25 at end-December ...
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PropertyEU Archive
British Land sells 50% of Meadowhall mall for EUR 673m
UK REIT British Land has sold a 50% stake in its Meadowhall shopping centre for £588 mln (EUR 673 mln) to AIM-listed property investor London & Stamford and a partner. In a statement issued on Monday, British Land said it has exchanged contracts to form a new 50:50 joint venture ...
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PropertyEU Archive
Hammerson unveils EUR 670m rights issue
UK real estate group Hammerson confirmed on Monday that it is seeking to raise net proceeds of £584 mln (just under EUR 670 mln) in a fully underwritten 7-for-5 rights issue to reduce its debts and cut its gearing level.
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PropertyEU Archive
Vacant offices spring up all over London, says C&W
The amount of vacant office space in central London has increased by 36.5% in the last 12 months, as companies affected by the economic downturn shed staff, consolidate their property holdings or relocate to alternative locations.
