All Real Assets articles in Web Issue – Page 396
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PropertyEU Archive
SEB lifts redemption ban on ImmoInvest fund
SEB Asset Management lifted the suspension of unit redemption for the SEB ImmoInvest open-ended real estate fund on 29 May 2009, in line with its previous announcement that it would not be utilising the full statutory suspension period of nine months. SEB said that positive signals from sales partners and ...
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PropertyEU Archive
HRE capital increase clears way for full nationalisation
Soffin, the German financial market stabilisation fund, will hold 90% of Hypo Real Estate (HRE) following a EUR 2.96 bn capital increase which was approved by a majority of HRE shareholders on Wednesday. The capital raising exercise clears the way for a complete takeover of the ailing property financier, Soffin ...
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PropertyEU Archive
Redevco seals long-term office lease deal
Dutch property company Redevco has concluded a long-term lease agreement with ICT consultancy Finace for some 2,000 m[sup]2[/sup] of office space and 34 parking spaces in the central Dutch town of Leusden.
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PropertyEU Archive
Ric Lewis establishes own investment firm
Property veteran Ric Lewis has launched a new real estate investment management company, named Tristan Capital Partners. Tristan will specialise in real estate investment strategies across the UK and Continental Europe drawing upon Lewis' extensive experience as the former CEO of Curzon Global Partners and chief investment officer for AEW ...
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PropertyEU Archive
Befimmo unveils EUR 166m capital raising
Belgian listed real estate company Befimmo has announced it is issuing 3.7 million new shares to raise EUR 166.6 mln to bolster its financial position. The preferential rights issue is supported by Befimmo's main shareholder, Fortis Insurance Belgium, and associated companies, who will subscribe to 701,351 new shares for EUR ...
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PropertyEU Archive
Global returns vary widely in 2008- IPD
The spread in underlying capital values in terms of local currencies across 23 of the world's most mature real estate markets in 2008 was 42 percentage points from best to worst, according to IPD Global Property Index. Despite some severe capital falls, the estimated size of the professionally managed global ...
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PropertyEU Archive
Corio raises EUR 258m for acquisitions
Pan-European real estate group Corio has raised EUR 258 mln through an accelerated bookbuilding offering of 7.9 million shares with institutional investors at a price of EUR 32.50 per share.
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PropertyEU Archive
Aareal Bank issues EUR 500 mln mortgage bond
German property bank Aareal Bank has announced that it successfully placed a EUR 500 mln, 3.25 year mortgage bond issue on the capital market. Given the 2.62% coupon, the bond's issue price of 99.71% is equivalent to a spread of 45 basis points above mid-swaps. The transaction was syndicated by ...
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PropertyEU Archive
Hammerson sells 75% of Bishops Sq to Oman fund
Hammerson has completed the sale of a 75% interest in the Bishops Square office complex in London to the Oman Investment Fund (OIF), an investment arm of the Government of Oman.
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PropertyEU Archive
Union Investment funds poised for more acquisitions
Union Investment has said its UniImmo: Deutschland and UniImmo: Global funds are set for more acquisitions after a period of good performance in their 2008/2009 accounting year.
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PropertyEU Archive
Catella acts in three diplomatic mission deals in Brussels
Catella Property Benelux has said it acted on behalf of the Permanent Delegation of Turkey to the EU in the acquisition of an office building in Brussels. The building comprises approximately 3, 830 m[sup]2[/sup] of office space and is strategically situated along the Avenue des Arts in the European ...
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PropertyEU Archive
Milligan agrees jv with Eiffage for Portugal's first 'retail planet'
Retail developer Milligan has signed a joint venture agreement with construction company Eiffage for the financing and construction of Portugal's first 'Retail Planet' in Barreiro, Greater Lisbon. Barreiro Retail Planet, created by Milligan, combines the formats of both a retail park and a shopping centre. It will consist of over ...
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PropertyEU Archive
Orco calls for investigation into alleged market manipulation
Oco Property Group has asked the Czech National Bank to investigate an activist shareholder, Ing. Lubos Smrcka, and SOS Orco, the group for small shareholders he leads, for alleged market manipulation. In parallel, Orco's president and CEO Jean-François Otto has filed a defamation action in the City Court of Prague ...
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PropertyEU Archive
IPD bolsters Dutch property analysis capacity
IPD has strengthened its position in the Netherlands with the purchase of social housing sector performance analysis partner, Aedex, for an undisclosed sum.
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PropertyEU Archive
Atisreal UK renamed BNP Paribas Real Estate
European property adviser Atisreal has completed its rebranding to BNP Paribas Real Estate in the UK as part of the company's strategy to have a single global brand across Europe, Middle East and India. The agent claims it is now the fourth-largest by turnover in Europe and eighth globally.
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PropertyEU Archive
XXI Century divests interests in four projects
Ukrainian property company XXI Century Investments has sold its stakes in four projects for a total $9.3 mln (EUR 6.5 mln). The proceeds will be used to
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PropertyEU Archive
German property climate rallies in May - King Sturge
The mood in the German real estate industry perked up in May following a brief setback in April, according to King Sturge’s Real Estate Climate survey which forms part of its Real Estate Economy Index. The index rose to 55.6 points, an 8.2% improvement on the April figure of 51.4 ...
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PropertyEU Archive
Hansteen sees 'resilience' in continental markets
AIM-listed industrial property firm Hansteen has said it continues to see resilience in its principal markets of the Netherlands, Germany, Belgium and France. During the period from 31 December 2008 to 15 May 2009, Hansteen increased net occupancy, with a reduction in vacant space from 134,000 m[sup]2[/sup] to 117,000 m[sup]2[/sup] ...
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PropertyEU Archive
Lender-borrower partnerships key to debt conundrum - Savills
International real estate adviser Savills has said lenders working in partnership as much as possible with their clients is key to bankers getting their money back. In its annual financing property presentation for the UK in the City of London this week, Savills estimated that the sector has reached £50 ...
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PropertyEU Archive
Knight Frank expands into Romania
Knight Frank has expanded its European network into Romania and formed an association with Bucharest-based commercial property agency Prime Property Advisers. Prime Property Advisers was established by two former directors of Colliers International Romania, Horatiu Florescu and Monica Barbu. They each have more than 10 years' experience in the Romanian ...
