All Real Assets articles in Web Issue – Page 367
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PropertyEU Archive
Industrial property in CEE outperforms global markets
Industrial commercial property markets in Central and Eastern Europe (CEE) and South America were the best performing globally in 2008, according to the latest edition of the Industrial Space Across the World report from real estate adviser Cushman & Wakefield.
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PropertyEU Archive
Russia continues to dominate investment in CEE
Russia continues to dominate the real estate universe in Eastern European as the country with the strongest economy and exposure to a large domestic market, according to Karine Hirn, co-founder of Eastern European fund manager East Capital.
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PropertyEU Archive
IVG completes takeover of IVG Deutschland Immobilien
IVG Immobilien has acquired the shares held by minority shareholders in its subsidiary IVG Deutschland Immobilien by means of a squeeze-out procedure. Germany's largest listed property company said the successful integration of IVG Deutschland Immobilien, based on a shareholder resolution passed in August last year, would enable it to reduce ...
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PropertyEU Archive
Pace of decline in UK property market slowing: IPD
The pace of capital decline in the UKcommercial property market slowed for the second consecutive month in February, with values falling by a further 3.08%, according to the IPD UK Monthly Index. The latest monthly fall brings the total peak-to-trough decline in commercial property prices, since June 2007, to -39.5%.
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PropertyEU Archive
IPD: Germany remains most stable market in Europe
Germany has so far been holding up as the most stable market in Europe, according to Daniel Piazolo, managing director of IPD Germany. Speaking on a panel at the Mipim trade fair in Cannes last week, Piazolo said he would be surprised if Germany saw the big drop in capital ...
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PropertyEU Archive
Mipim sees sharp fall in visitor numbers
The 20th edition of the annual Mipim real estate fair in Cannes attracted some 18,000 visitors this year, according organiser Reed Midem. In 2008, the fair attracted a record 29,318 visitors.
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PropertyEU Archive
Lloyd Fonds launches new hotel fund
Hamburg-based Lloyd Fonds AG said on Friday that it has launched the marketing of the new Hotel am Fleesensee closed-ended property fund aimed at acquiring a four-star hotel on the banks of the lake Fleesensee in Mecklenburg-Western Pomerania. The fund, which runs for 20 years, is to acquire the hotel ...
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PropertyEU Archive
Savills plunges into the red
UK-based property adviser Savills reported a pre-tax loss of £7.7 mln in 2008 on revenue down at £568.5 mln. In 2007, the firm booked a pre-tax profit of £85.9 mln.
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PropertyEU Archive
Degi invests EUR 1.7bn in 2008, targets new acquisition this year
Degi, part of Aberdeen Property Investors, invested a total of EUR 1.7 bn last year on behalf of its public property funds. In a statement on Tuesday, the property asset manager said that new acquisitions are also planned for this year in anticipation of further inflows.
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PropertyEU Archive
Hotasa Hoteles buys 2 sites in La Palma
Spain's Hotasa Hoteles, part of the Nueva Rumasa Group, said it has bought two hotels in the Canary island of La Palma for an undisclosed amount. The four-star hotel sites are the Hotel Taburiente Playa with 293 rooms and the Costa Salinas hotel with 140 rooms. The seller was H10 ...
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PropertyEU Archive
AFI Development's NAV drops by 60% since June
Russian property builder AFI Development has seen its Net Asset Value per share fall by 60% over the past six months to $4.82, from $12.11 at end-June 2008. On Tuesday, the company reported a loss of $107.86 mln in 2008 compared with a profit of $215.6 mln at end-2007. The ...
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PropertyEU Archive
FdR asks AMF for license to manage OPCIs
Fonciere des Regions (FdR) has asked the French stock market regulator AMF for a license to enable it to manage OPCIs, a new type of non listed investment vehicles introduced in France at the end of 2007. 'We hope to receive the green light from the AMF before the summer,' ...
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PropertyEU Archive
European hotel executives beset by bankruptcy fears - DLA Piper
A survey of 261 European hotel executives has revealed a worse-than-expected outlook for the hospitality industry with 79% of respondents predicting hotel chain bankruptcies in the next 12 months. Four in 10 hotel executives anticipate that more than five chains will go into administration in the next year.
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PropertyEU Archive
Spanish savings banks team up to sell distressed properties
Over half of Spain's savings banks are joining forces to sell defaulted property and developments through the launch of a new vehicle, Ahorro Corporación Soluciones Inmobiliarias (ASCI). The new company, which will be managed by Ahorro Corporation, a financial services group jointly owned by the Spanish Cajas, has already been ...
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PropertyEU Archive
Lloyd Fonds buys Motel One hotel in Nurnberg
Germany's Lloyd Fonds has acquired a Motel One hotel in Nürnberg for an undisclosed amount. The two-star hotel property is earmarked for Lloyd's Moderne Grobstadthotels property fund. The hotel is rented for 25 years with a five-year extension. The 200-room property was completed in July 2008. Lloyd said this is ...
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PropertyEU Archive
European investors set to re-enter Russia on price decline, says C&W
International investors have started to re-enter the Russian property market as a result of a sharp price decline across all property sectors, according to Sergey Riabokobylko, joint head of C&W in Russia. Riabokobylko told PropertyEU that the country is seeing more activity in particular from European investors since the beginning ...
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PropertyEU Archive
Dolphin unveils share-for-assets programme
AIM-listed Dolphin Capital Investors (DCI), the largest residential resort investor in Southeast Europe, announced plans on Tuesday for a share buyback scheme under which shareholders will have the right to exchange common shares for certain real estate assets in the group.
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PropertyEU Archive
UBS to re-open funds next month - report
UBS plans to re-open its property funds in Germany next month and to carry out acquisitions this year totalling as much as EUR 600 mln, according to a report by newswire Reuters. UBS, which froze redemptions on its Euroinvest and Kontinente Immobilien open-ended funds in late 2008, told the news ...
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PropertyEU Archive
Goodman leases 15,000 m[sup]2[/sup] in Dortmund logistics centre
Goodman has announced the leasing of 15,163 m[sup]2[/sup] of space within its Dortmund logistics centre in central Germany. The company said it has reached an agreement with the German service provider Hölscher's Pallettenservice for the leasing of three of the four units of its multi-storage facility as from 1 March, ...
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PropertyEU Archive
Quantum to invest EUR 300m in the next 2 years
Hamburg-based Quantum Immobilien plans to invest some EUR 300 mln for its Habitare residential real estate fund in the next two years. The company said on Tuesday that the fund has generated a payout of 5% during 2008, with the same payout targeted for 2009. Since its launch Habitare has ...
