All Real Assets articles in Web Issue – Page 361
-
PropertyEU Archive
Rent reductions more popular in France, says Savills
Incentives and rent reductions are becoming more popular in France as property owners seek to secure their tenants amid worsening economic conditions and a weakening occupier market. France, which has long been considered as Europe's most resilient property market, saw property investment and letting activity slow down considerably in the ...
-
PropertyEU Archive
Global hotel markets to feel pressure in 2009, says E&Y
Global hotel markets are expected to continue to feel pressure from contracting economies and reduced leisure and business travel across much of the world in 2009. However, despite declines across most major regions of the world in 2008, operating performance in the global hotel industry remained profitable as hoteliers focused ...
-
PropertyEU Archive
Sainsbury's acquires 24 UK stores for EUR 93m
UK retailer Sainsbury's has acquired 24 stores from the Co-operative Group for £83 mln (EUR 93.3 mln), with a further £45 mln (EUR 50.6 mln) of fit-out costs being incurred. The 22 Somerfield branded stores and two Co-operative-branded stores in the UK have a net selling area of 22,000 m[sup]2[/sup]. ...
-
PropertyEU Archive
Financial aid requests in Germany up EUR 31 bn in February
Germany's financial market stabilisation fund Soffin has said that applications for state aid from financial institutions rose by EUR 31 bn in February. The fund, set up in October 2008 to bail out financial services institutions with severe liquidity problems, received applications for EUR 294 bn in February, compared with ...
-
PropertyEU Archive
VastNed O/I refinances EUR 370m loan portfolio
Rotterdam-based VastNed Offices/Industrial has refinanced its existing loan portfolio for Dutch and German property totalling EUR 370m to deal with a breach of one of its loan covenants. The refinancing relates to about 62% of the company's outstanding loan portfolio.
-
PropertyEU Archive
Segro unveils EUR 562m discounted rights issue
Segro's shares rose sharply on Wednesday after the firm unveiled plans for a 12-1 fully underwritten rights issue to raise £500.6 mln (EUR 562 mln). The UK-based real estate investment trust (REIT) said the net proceeds of the rights issue would be used to reduce net debt.
-
PropertyEU Archive
CA Immobilien sees 7% valuation drop
Listed Vienna-based CA Immobilien Anlagen has said favourable operational developments in 2008 were offset by significant revaluation losses and impairments.
-
PropertyEU Archive
CBRE selected by Nokia as global real estate adviser
CB Richard Ellis has announced that it has been selected by mobile phone giant Nokia as its exclusive global strategic real estate advisor. The service will include transaction management, brokerage and lease administration services.
-
PropertyEU Archive
Alta Fides completes first property in the student housing segment
German property company Alta Fides has begun its expansion into the student living sector by launching the marketing for its first three projects in Greifswald, Erlangen and Leipzig - totalling more than 500 residential units.
-
PropertyEU Archive
Starwood appoints John McCarthy as global head of asset management
Starwood Capital Group Global has named John McCarthy as global head of asset management, in charge of Starwood's worldwide real estate portfolio. McCarthy joins Starwood Capital from Lehman Brothers, where he most recently served as global co-head of asset management for Lehman Brothers Real Estate Private Equity. In that capacity, ...
-
PropertyEU Archive
Multi, Tesco JV opens Forum Liberec in Czech Republic
Multi Development has said that Phase 1 of its Forum Liberec shopping centre has opened its doors in the north of Czech Republic. The centre features a modern Tesco department store with a sales area of 10,000 m2, 60 other shops and around 850 parking places. Phase 1 also includes ...
-
PropertyEU Archive
Niam recruits Hagerdal as senior director of portfolio management
Niam, a private equity firm in Northern Europe specialising in property, has appointed Maria Hagerdal as senior director, portfolio management to replace Urban Ehrling. Prior to joining Niam, Hagerdal was the head of asset management at Landic Property.
-
PropertyEU Archive
Bank of England cuts interest rate to 0.5%
The Bank of England has reduced its interest rate by 0.5% points to 0.5%, the lowest since the bank was founded in 1694. The bank also announced a programme to purchase £75 bn (EUR 84.5 bn) of assets aimed at boosting the supply of money and credit.
-
PropertyEU Archive
Depfa Tier 1 vehicle to miss payment on preferred securities
Dublin-based public sector financier Depfa Bank, a member of the troubled Hypo Real Estate Group, has announced that its Tier 1 issuing vehicle, Depfa Funding IV, will not make payments on its EUR 500 mln preferred securities on the next distribution payment date scheduled 21 March 2009.
-
PropertyEU Archive
King Sturge forecasts 50% rental drop in London over next 2 years
The UK is facing a very challenging economic climate but 'unprecedented' opportunity has arisen in the office property market, according to international property consultant King Sturge. In its latest research report on the UK office market, King Sturge points to a number of positives, including the outlook for UK regional ...
-
PropertyEU Archive
FTSE EPRA/NAREIT Europe index sheds 8.2% in February
Europe was the strongest regional performer in the FTSE EPRA/NAREIT index series in February, despite continuing losses, according to the latest figures from the European Public Real Estate Association (EPRA). The FTSE EPRA/NAREIT Europe shed 8% in the month, compared to a loss of 19.6% for North America and a ...
-
PropertyEU Archive
Corio reports stable direct result of EUR 204m
Dutch retail property giant Corio has reported a direct result of EUR 204 mln for 2008 compared to EUR 203 mln the year before. Per share, the result came to EUR 3.08 compared to EUR 3.07 per share in 2007.
-
PropertyEU Archive
Mercialys buys retail portfolio from Casino for EUR 334m
French retail group Casino has sold a portfolio of 25 properties to its majority-controlled property arm Mercialys for EUR 334 mln. The portfolio consists of 25 assets to be completed during 2009 and 2010, and comprises four distinct asset classes: three shopping centers in Besançon and Arles, which are already ...
-
PropertyEU Archive
NSI appoints new country manager, sells assets
Nieuwe Steen Investments has announced that Cees Busscher, 56, is joining the company as country manager for the Netherlands from May 1, 2009. Busscher is currently managing director of Dura Vermeer Vastgoed, the property development company of Dura Vermeer Group. At NSI, he will be in charge of the Dutch ...
-
PropertyEU Archive
Starwood sells Sheraton Brussels hotel
Starwood Hotels & Resorts, advised by CB Richard Ellis, has sold Brussels' Sheraton hotel, the largest hotel in the city, to the pan-European investment company International Real Estate Plc (IRE) for an undisclosed amount.
