All Real Assets articles in Web Issue – Page 371
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PropertyEU Archive
LaSalle announces retirement of Gerald Blundell
LaSalle Investment Management has announced that Gerald Blundell will retire from the firm at the end of April 2009. He will also resign his position as European Director which he has held since the merger of LaSalle and Jones Lang Wootton in 1999.
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PropertyEU Archive
DTZ appoints COO for UK & Ireland
DTZ has appointed Andrew Jones as Chief Operating Officer (COO) for UK & Ireland. The appointment marks another important step in strengthening DTZ's operational management, the group said.
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PropertyEU Archive
ING RE apponts new heads to UK and European research & strategy teams
ING Real Estate has appointed Paul Stewart as the new head of UK Research & Strategy. Stewart, a director at ING Real Estate has worked in the Research & Strategy team for the past six years and has been involved in property market research for over 14 years.
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PropertyEU Archive
Catella launches property valuation service in Baltics
International property broker Catella is launching property valuation services in the Baltics.The new head of the Baltic valuation team, Daiva Albertaviciene, is a Fellow of the Royal Institution of Chartered Surveyors and has extensive market knowledge in property valuation, with over 15 years of local and international experience.
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PropertyEU Archive
Calpers, Hines reduce size of Spanish fund
US real estate developer Hines and US pension fund Calpers (California Public Employees' Retirement System) are reducing the size of their HCS Interest joint venture fund from EUR 183 mln to EUR 35 mln. The fund, headed by Carlos Matta, was launched in June 2006 and was targeting the Spanish ...
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PropertyEU Archive
Savills detects stir of investor interest in London's West End
The increasingly attractive yield gap and above average long-term yields, currently standing at 5.75%, are already beginning to stir some investment activity in the West End, Savills has said in its latest Central London office review. The report predicts a rise in West End investor interest for smaller lot sizes ...
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PropertyEU Archive
IVG extends EUR 1.3bn credit line to 2012
German real estate giant IVG Immobilien has reached agreement to combine EUR 1.3 bn of credit lines which were due to mature in the next two year into a single syndicated loan with 11 banks that matures in 2012.
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PropertyEU Archive
Cofinimmo sells for EUR 111m
Belgian property company Cofinimmo said on Thursday that it has sold four leaseholds and freeholds of buildings for EUR 111 mln to raise financing for new investments. The company arranged the sale with a subsidiary of the Société Générale Group for the 15-year leasehold of a building in Brussels let ...
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PropertyEU Archive
C&W gets $50m credit line after posting loss in 2008
Exor, the holding company of the Italian Agnelli family owning 72% of Cushman & Wakefield, said on Thursday that it is providing a $50 mln credit line to the real estate broker after it unveiled a loss for 2008 of EUR 20.2 mln. In its full year results published on ...
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PropertyEU Archive
Spazio Investment posts 2008 loss, scraps dividend
Spazio Investment, the Amsterdam-based investment company focused on the Italian real estate market, said it reported a loss of EUR 8.6 mln in 2008, from a profit of EUR 45 mln a year before. The company's Net Asset Value per share stands at EUR 13.6, down from EUR 15.8 at ...
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PropertyEU Archive
Archipelago launches EUR 30m Greek fund
Archipelago Investment Partners LLP (AIP), the strategic real estate investment advisory group, has announced the launch of its G1 Greek Real Estate Opportunities Fund. AIP is looking to raise EUR 30 mln, with a maximum final close of EUR 50 mln and a minimum subscription amount of EUR 250,000. The ...
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PropertyEU Archive
Waldeck launches EUR 500m distressed hotel fund
Waldeck Capital has announced the launch of a EUR 500 mln fund to acquire luxury hotels in Europe and the US. The investment banking firm, incorporated in the US state of Delaware, said it is seeking investment from both institutions and individuals for the Global Hospitality Recovery Fund.
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PropertyEU Archive
F&C REIT closes £600m Dawnay Day deal
F&C Reit Asset Management and Area Property Partners completed on Wednesday their purchase of Dawnay Day's UK portfolio for £600 mln (EUR 642 mln). The companies said at end-February that they had exchanged contracts with administrator BDO Stoy Hayward to acquire the assets which include 212 properties in the UK. ...
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PropertyEU Archive
Argan buys logistics asset from ING fund
Paris-listed logistics property developer and investor Argan said on Tuesday that it has acquired a logistics site near Paris for an undisclosed amount from the Australia-listed ING Industrial Fund. The property located in Gonesse, was developed in 2004 and provides 22,000 m[sup]2[/sup] of space fully leased to Movianto, a subsidiary ...
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PropertyEU Archive
Canary Wharf owner warns it could go bust as values dive
Songbird Estates, the AIM-listed owner of more than half the buildings in London's Canary Wharf, has said there is a 'material risk' that it could breach a loan covenant within the next 12 months unless it is able to refinance a loan of £880 mln (EUR 943 mln).
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PropertyEU Archive
Orco granted court protection to ease restructuring
Orco Property Group has been granted court protection from its creditors to give it more time to finalise a major restructuring plan. Paris Commercial Court granted Orco and a French subsidiary a Procedure de Sauvegarde for an initial six months. The status is renewable.
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PropertyEU Archive
Simon Property raises $1.2bn in equity and debt offering
US-based shopping centre giant Simon Property Group has raised net proceeds of about $1.2 bn (EUR 811 mln) from the equity and debt offerings announced last week.
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PropertyEU Archive
French defence ministry to sell off EUR 1b of assets
The French ministry of defence unveiled plans last week to sell off EUR 0.8-1 bn worth of assets in the Paris region as part of a plan to bring together its different Paris offices in one site in Balard. Hervé Morin, the French defence minister, said the project represented a ...
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PropertyEU Archive
Realkapital sets up EUR 100m Nordic recovery fund
Realkapital Partners has launched a EUR 100 mln Nordic Recovery Fund to capitalise on secondary market mispricing for real estate debt and equity. The fund, with a life of five years and a Core+/Value-added profile, will seek to provide investors with an Internal Rate of Return of 20%. The vehicle, ...
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PropertyEU Archive
Hypo gets formal extention of EUR 20bn guarantee
Hypo Real Estate confirmed last week that the German federal government has formally extended the term of its EUR 20 bn guarantee until 31 December 2009
