All Real Assets articles in Web Issue – Page 365
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PropertyEU Archive
More occupiers looking to renegotiate leases
A growing number of occupiers are taking steps to renegotiate their existing leases in a bid to obtain better terms, according to Paul Bacon, CEO of Cushman & Wakefield. 'The majority of retailers and occupiers around the world are reviewing their contracts. It is absolutely a tenant's world.'
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PropertyEU Archive
Hotels worldwide expect 5-10% lower occupancy rates in 2009
Hotels worldwide expect occupancy levels and room rates to fall by between 5% and 10% this year compared with 2008, according to the Global Hotel Market Sentiment Survey published on Thursday by hotel consultancy Horwath HTL.
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PropertyEU Archive
Italian defence ministry to close first property sales by end-2009
Italy's ministry of defence expects to carry out its first property disposals over the next six months as part of a major sell-off programme, spokesperson Riccardo Cristoni said at the Mipim fair in Cannes. The disposal programme, which involves around 50% of the ministry's total portfolio, consists of thousands of ...
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PropertyEU Archive
DIC Asset predicts 2009 operating profit of EUR 34-36m
German property company DIC Asset said it expects operating profit in 2009 to amount to between EUR 34 mln and EUR 36 mln, assuming that market conditions do not deteriorate further. The Frankfurt-based company this week reported rental income of EUR 134.5 mln in 2008, up 44% on the year-earlier ...
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PropertyEU Archive
Invista property trust sells assets for EUR 38m
Invista Foundation Property Trust has sold two properties for almost 38 mln. IFPT, which uses Invista REIM as its investment manager, announced it has exchanged contracts to dispose of National Magazine House, London, an office and residential building mainly let for a further 9.5 years to National Magazine Company.
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PropertyEU Archive
Natixis raises EUR 420m for European fund
Natixis Capital Partners, a European real estate investment specialist, has launched its third private equity real estate fund, Captiva Capital Partners III, after raising EUR 420 mln in equity from European institutional investors. The fund had its final closing at the beginning of 2009.
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PropertyEU Archive
CAAM RE buys in Lyon at 7.5%
Credit Agricole Asset Management Real Estate has bought two office buildings in Lyon for a price of just over EUR 30 mln. The properties were acquired from Fonciere des Regions and provide total space of 11,000 m[sup]2[/sup]. The buildings were bought at a net initial yield of 7.2% and 7.5% ...
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PropertyEU Archive
Greek government plans EUR 800m sale-and-leaseback
The Greek government plans to generate around EUR 800 mln from the sale and leaseback of 33 public properties over the next two years, following approval of the disposal programme by the parliamentary privatisation committee last week. The properties total 272,000 m[sup]2[/sup] and mainly house government ministries, tax departments and ...
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PropertyEU Archive
PwC to aid Russia's Krasnodar Region with development
PricewaterhouseCoopers (PwC) has signed an agreement of intent with the government of Russia's Krasnodar Region to facilitate the development of a favourable economic, investment and social environment in the region.
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PropertyEU Archive
Poste Immo teams up with Icade in Arcadea property JV
France's Poste Immo and Icade are joining forces to create Arkadea, a new partnership aimed at optimising and boosting the value of Poste Immo's property portfolio. Poste Immo hopes the partnership will enable it to develop the potential of some of its residential and commercial assets, and in this way ...
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PropertyEU Archive
Balkimo introduces first SEE distressed property fund
Balkimo Property Partners launched its first vulture fund targeting South Eastern Europe at Mipim this week in a move aimed at capitalising on distressed and foreclosed properties in the region.
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PropertyEU Archive
Starman sells Meridien Beach Plaza hotel to private individual
Starman Hotels has agreed to sell Le Meridien Beach Plaza, one of the most prestigious five-star hotels in Monte Carlo, to a private individual living in Monaco, for an undisclosed sum. Starman Hotels was advised on the deal by UK agent Christie + Co.
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PropertyEU Archive
Investors shift focus from capital to rental values
With take-up around Europe expected to fall an average 15% this year and rents on the decline, investors are shifting their focus from capital to rental values, according to Etienne Prongue, director of international investment at Atisreal. 'Rents are set to decline in every market. Today most investors are looking ...
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PropertyEU Archive
East Capital launches special situations fund
Eastern European asset manager East Capital is to launch a new fund targeting investment opportunities that arise in the current market downturn. The Special Opportunities Fund is due to be launched in the second quarter of 2009 and is mandated to invest in Russia and the rest of Eastern Europe.
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PropertyEU Archive
CEE still holds value for discerning investors
Central and Eastern Europe may be facing its sharpest economic downturn since the early 1990s, but the region still holds considerable value for equity-rich and opportunistic players who are not swayed by market sentiment alone and who are able to correctly interpret asset level risk while differentiating between countries. That ...
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PropertyEU Archive
Prime property drying up in CEE market
Central and Eastern Europe (CEE) is seeing real estate deals come to a total standstill, according to Douglas Hardman, regional investment director for DTZ. 'Everybody is looking for prime assets, but there's only a small pool available in CEE,' he said during a panel discussion at the Mipim real estate ...
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PropertyEU Archive
Hermitage signs financing for tower at La Defense
Hermitage, the French property arm of Russian group Stroimontage, reached an agreement on Wednesday with an undisclosed pool of banks for the financing of the Hermitage Plaza tower project located at La Défense business district in Paris. A Hermitage spokesperson would not reveal the amount of the financing, but the ...
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PropertyEU Archive
'G-REITs will dominate German investment market'
Real estate investment trusts (REITs) will become the dominant investment vehicle in Germany in the next few years, chief executive Olivier Elamine of Alstria Office REIT told PropertyEU at the Mipim trade fair in Cannes. Elamine forecast that three or four large G-REITs will emerge in the German market as ...
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PropertyEU Archive
Segro leases 15,000 m[sup]2[/sup] at Tulipan Park Lodz
Segro has leased 15,000 m[sup]2[/sup] of warehouse and office space at Tulipan Park in the Polish city of Lodz to Pol-Fret, a provider of logistics services in the textile and chemical sectors. International property adviser King Sturge represented Segro, the UK-based real estate investment trust (REIT) which developed the park.
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PropertyEU Archive
Hochtief leases out 16,000 m[sup]2[/sup] in Prague office complex
German developer Hochtief said it has leased out nearly 16,000 m[sup]2[/sup] of office and commercial space in the Trianon office and retail complex in Prague. The new tenants are a Czech bank, market research firm TNS Aisa, an insurance company and restaurant chain Kolkovna.
