All Real Assets articles in Web Issue – Page 379
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PropertyEU Archive
Multi names Kokkeel as head of mall management in Europe
Multi Corporation has announced the appointment of Marcel Kokkeel as chairman of Multi Mall Management Europe. The retail property specialist said Kokkeel, 50, will remain a member of the executive committee responsible for Western Europe and will add his previous marketing experience at retail giant Ahold to the management of ...
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PropertyEU Archive
'Panic phase' seems to be over in France, says IEIF
French commercial property values have seen a slight fall of 0.8% during the first quarter of 2009, according to the EDHEC IEIF Commercial Property France index which is based on the portfolio value of French unlisted real estate funds. The figure compares to a drop of 8.3% reported in the ...
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PropertyEU Archive
CEE property investment slows to EUR 220m in Q1 2009
About EUR 220 mln worth of real estate deals were recorded in Central and Eastern Europe (CEE) in the first three months of 2009 as investment slowed further, according to CB Richard Ellis. This volume represents approximately one-third of the volume transacted in Q4 2008, a slightly stronger slowdown than ...
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PropertyEU Archive
Immofinanz in EUR 1.5b bond swap to avoid insolvency
Cash-strapped real estate group Immofinanz plans to swap EUR 1.5 bn worth of convertible bonds into new convertibles at a lower face value to avoid insolvency. The group, which in February launched a restructuring of its business to boost its liquidity, is offering holders of five outstanding convertibles new bonds ...
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PropertyEU Archive
Kungsleden completes EUR 1.3b sale to Third AP Fund
Listed Swedish property company Kungsleden is completing its divestment of 50% of the shares of Hemsö to the Third AP (Pension Insurance) Fund. Hemsö owns and manages Kungsleden's Public Properties in Sweden, mainly retirement home, care and school properties. The transaction amount comes to SEK 14.6 bn (EUR 1.3 bn), ...
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PropertyEU Archive
La Lucette puts EUR 200m of assets on the market
Compagnie La Lucette is putting EUR 200 mln worth of properties on the market as part of its disposal plan for 2009. In a statement on Thursday, the French SIIC said that it will put up for sale its Colisee office building at La Defense in Paris, providing some 25,000 ...
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PropertyEU Archive
IPD: Nordic property market in 2008 a story of two halves
Capital depreciation in Nordic real estate markets led to annual capital growth of -5.4% in 2008, according to the IPD Nordic Annual Property Index. Based on local currencies, the capital return over last year was the lowest annual figure in the index's nine-year history. In 2007, capital growth totalled 8.0%.
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PropertyEU Archive
CBRE acts for vendor of Monza shopping centre
CB Richard Ellis said on Tuesday that it advised vendor ImmobiliarEuropea SpA on the sale of a 28,000 m[sup]2[/sup] new shopping centre, Auchan Monza, located in Monza, Italy. The Centre was sold to UniImmo, German Open Ended Fund managed by Union Investment Real Estate AG, for over EUR 142 mln.
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PropertyEU Archive
Sistema-Hals announces second bond issue
Russian property developer Sistema-Hals plans the launch of a second bond issue on April 21 to raise additional equity in order to restructure its debt. The company plans to issue RUB 2 bn in bonds with maturity in 2014. The Lead Manager of the bond issue is Renaissance Capital.
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PropertyEU Archive
Atrium opens Russian shopping centre extension
Austria's Atrium European Real Estate has announced the opening of an extension to its Togliatti Park House shopping centre in Russia. The extension comprises a 12,100 m2, stand-alone retail unit which is fully let to Castorama on an initial 10-year lease with an option for a further five years.
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PropertyEU Archive
RICS publishes guidance for new building valuations
The Royal Institute of Chartered Surveyors (RICS) has published a new guidance note to draw together all aspects of the 'challenging process' of valuing new build properties. The guidance comes into effect on 1 May 2009.
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PropertyEU Archive
Retail property outperforms other sectors in Europe: CBRE
European investment activity in the retail sector held up better than activity in the investment market as a whole in the first quarter of 2009, according to a new research report issued by CB Richard Ellis on Thursday. Earlier this week, CB Richard Ellis revealed that overall investment turnover ...
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PropertyEU Archive
Robert Houston to step down as CEO of ING REIM
Robert Houston is stepping down as CEO of ING Real Estate Investment Management within a year of being appointed. ING RE announced in a short statement on Thursday that Houston, who became CEO of ING REIM in September 2008, is leaving on 1 August 2009.
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PropertyEU Archive
Western Europe accounts for 95% of investment in Q1, says JLL
Direct investment in European commercial real estate reached EUR 12 bn in Europe in Q1 2009, down 30% on volumes in the previous quarter and 70% lower than Q1 2008, according to new research from Jones Lang LaSalle. Core Western European markets accounted for 95% of total investment volumes, whilst ...
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PropertyEU Archive
German government makes EUR 1.39 per share offer for Hypo
The German government has launched its bid to nationalise struggling property financer Hypo Real Estate by tabling an offer of EUR 1.39 per share. The offer is about a 10% premium on the statutory minimum offer price of EUR 1.26.
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PropertyEU Archive
Grosvenor unveils £594m pre-tax loss in 2008
Privately-owned Grosvenor Group has swung to a pre-tax loss of £594 mln (EUR 673 mln) in 2008 from a profit of £524 mln in 2007 mostly as a result of 'the impact on Grosvenor's portfolio of the decline in asset values in many of the markets in which it operates.' ...
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PropertyEU Archive
Data centre market buoyant and greener in 2008 - CBRE
Total take-up in the European Data Centre market for 2008 was down 7% in 2008 at 147,380 m[sup]2[/sup] across the five tier 1 markets - London, Paris, Frankfurt, Amsterdam and Madrid, figures from CB Richard Ellis show. The fall follows a record level of take-up figure reported in 2007 and ...
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PropertyEU Archive
Pirelli RE chief gets EUR 9.4m exit payout
Pirelli RE's outgoing Chief Executive Carlo A. Puri Negri was granted a record EUR 9.4 mln payout by the board last week and an additional EUR 3 mln as part of a 'non-competition agreement' and a 'non-solicitation agreement' regarding the group's employees over the next two years, the company said ...
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PropertyEU Archive
IVG Funds acquires office project from Skanska
IVG Funds has acquired an ongoing office project in a suburb of Stockholm from Swedish construction and property giant Skanska for SEK 400 mln (about 36 mln).
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PropertyEU Archive
HSH Nordbank to press criminal charges against board member
HSH Nordbank will press criminal charges against Frank Roth, member of the Management Board, the German bank said on Friday. Roth is suspected of having provided third parties with strictly confidential information regarding the bank.
