All Real Assets articles in Web Issue – Page 362
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PropertyEU Archive
Oliver Stumm joins management of Business Network Marketing
Oliver Stumm, 42, has joined the management of Business Network Marketing and Verlagsgesellschaft as managing partner. His task at this specialist consulting firm for business communication will be to expand the area of real estate and finance business, and to boost the company's strategic development. This will, among other things, ...
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PropertyEU Archive
Office sub-letting rises in Frankfurt as crisis starts to hit
The rental market in Germany´s financial hub Frankfurt is starting to show the first signs of fallout from the economic crisis, according to property consultant NAI apollo.
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PropertyEU Archive
PropertyEU launches enhanced daily service
PropertyEU launches its enhanced newsletter service, PropertyDay, on Monday 9 March to keep industry professionals updated on the fast-changing real estate landscape in Europe. In place of the PropertyEU newsletter you are used to, from Monday you will receive a unique digital news service that brings together more than 100 ...
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PropertyEU Archive
SPD sells two development projects at Fornebu
Scandinavian Property Development has entered into a contract to sell two development projects, Fornebu Senter and Arena Handel, near Oslo to Kommunal Landspensjonskasse (KLP). The transaction, which is subject to approval by both boards, is valued at NOK 275 mln (almost EUR 31 mln) with additional earn-out potential of NOK ...
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PropertyEU Archive
RICS: Eastern European property prices plummet
The ongoing decline in capital values in Western Europe has shifted eastward, with the coming months likely to see significant price falls across many Central and Eastern European markets, according to RICS Global Commercial Property Survey published this week.
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PropertyEU Archive
Reyal Urbis sells EUR 1.6bn of assets to banks
Spanish property company Reyal Urbis sold property assets worth EUR 1.6 bn to unnamed banks in the course of 2008, the company said in a statement to the local stock market regulator. The sales were part of a refinancing agreement for about EUR 3 bn of corporate debt which the ...
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PropertyEU Archive
ECO Business-Immobilien sells office asset in Vienna for EUR 100m
Listed Austrian group ECO Business-Immobilien has sold an office property in the centre of Vienna to a private investor for slightly more than EUR 100 mln. Austrian bank BAWAG occupies the building which is located at Fleischmarkt 1, 3-5 in the city.
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PropertyEU Archive
Hypo stands firm as dismissed CEO takes legal action
Troubled German property financier Hypo Real Estate has said it will welcome the opportunity to defend its decision in court to dismiss former CEO Georg Funke from the board. Funke resigned as CEO last October after the bank managed to secure a EUR 50 bn public-private bail-out to save it ...
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PropertyEU Archive
Mirax completes new refinancing agreement
Russian property developer Mirax Group said on Thursday that it has completed the refinancing of $180 mln (EUR 143 mln) of Credit Linked Notes which were issued in March 2007 and were due for a put option on March 20, 2009. The new restructuring terms are virtually identical to the ...
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PropertyEU Archive
IPD: unparalleled decline in global real estate returns
The extent of the ongoing decline in real estate total returns worldwide is the worst since the Investment Property Databank (IPD) began collating the figures in 1985. This crisis is unique from earlier ones in that it preceded rather than followed on from an economic downturn, according to Ian Cullen, ...
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PropertyEU Archive
RREEF sells Stockholm's Europahuset to pension fund
Deutsche Bank's RREEF has sold the Europahuset office property in Stockhom to Swedish pension fund AMF for an undisclosed amount. The German investor bought the property back in 2003 for its Grundbesitz Global open end real estate fund from Drott for SEK 800 mln (around EUR 88 mln). Catella advised ...
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PropertyEU Archive
Yield shift in European retail generates investor opportunities: Savills
European prime shopping centre yields have risen from 5.0% at end 2007 to around 6.3% at present, with secondary yields reaching as much as 7.25%, compared to 5.8% a year ago, research from Savills shows.
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PropertyEU Archive
PropertyEU expands news service
PropertyEU launches its enhanced newsletter service, PropertyDay, today to keep industry professionals updated on the fast-changing real estate landscape in Europe. In place of the PropertyEU newsletter you are used to, from Monday you will receive a unique digital news service that brings together more than 100 news sources in ...
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PropertyEU Archive
MyZeil welcomes 400,000 visitors in 3 days
MAB Development's MyZeil shopping centre in Frankfurt has attracted over 400,000 visitors in thre three days since its opening in end-February. According to the Dutch developer, the numbers have beaten the most positive footfall expectations, and 'even more in these difficult times'.
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PropertyEU Archive
Draco, Coopsette to kick off EUR 1.5 bn Motorcity project in Verona
Italy's Draco Real Estate and Coopsette are launching their fully-owned Motorcity project covering an area of 450 hectares this week at MIPIM. The development, which will become one of Europe's largest European infrastructure and entertainment projects, is located near Veneto in Northern Italy and willl include an entertainment theme park, ...
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PropertyEU Archive
Union Investment buys Munich project for EUR 100m
Union Investment Real Estate has bought the Atmos office development in Munich for more than EUR 100 mln from CA Immo, the Austrian company said in a press release on Monday.
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PropertyEU Archive
Babis Vovos seeks EUR 125m refinancing for Votanikos mall
Greek listed property developer Babis Vovos said it has entered negotiations with its lenders, Alpha and Piraeus Bank, on a EUR 125 mln refinancing of the Votanikos shopping centre development in Athens.
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PropertyEU Archive
German participation at Mipim down 30%
The number of German participants at this year's Mipim will be down around 30% at 2,100 compared with 2008, according to registration figures obtained by German property magazine Immobilien Zeitung. Of the 29,000 total viistors registered last year, 3,061 came from Germany.
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PropertyEU Archive
PEPR announces repayment of EUR 336m of CMBS debt
ProLogis European Properties (PEPR), one Europe's largest owners of warehouse distribution facilities, announced on Monday that it will repay around EUR 336 mln of CMBS debt on 5 April 2009, three months earlier than contractually required. PEPR will use a combination of cash from operations and available capacity under its ...
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PropertyEU Archive
CBRE boosts CEE activities with new Bulgarian affiliate
CB Richard Ellis Group has signed an affiliate agreement with MBL EOOD, a commercial real estate services provider in Bulgaria. The affiliation will leverage the leading capabilities of both companies by combining strong local market expertise with a global platform and client relationships.
