All Real Assets articles in Web Issue – Page 418
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PropertyEU Archive
Rising vacancy levels drive down office rents - JLL
Prime European office rents declined by 4.6% in the second quarter of 2009 compared with the previous three months and are now on average 15.4% lower than in Q2 2008, according to Jones Lang LaSalle's Q2 2009 European Office Clock Report. At the same time, the overall vacancy rate increased ...
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PropertyEU Archive
Messe Frankfurt opens new exhibition hall
Messe Frankfurt opened its new exhibition hall 11 on Thursday, offering 23,860 m[sup]2[/sup] of exhibition space over two floors and incorporating a conference centre, Immobilien Zeitung reported. The new hall cost around EUR 170 mln to build.
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PropertyEU Archive
Occupancy levels at London hotels holding up - TRI
Occupancy levels at London's hotel chains proved relatively robust in June compared with the same period in 2008, according to the latest HotStats survey by TRI Hospitality Consulting. Occupancy rates reached 84.1%, only one percentage point below levels seen last year.
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PropertyEU Archive
Hochtief wins EUR 116m infrastructure orders in Poland
Hochtief has received contracts in Poland totalling almost EUR 116 mln. Hochtief's Polish unit will construct a new terminal for more than EUR 54 mln at the Wroclaw Strachowice (Breslau) Airport. The company will also head a syndicate to expand the Silesian Stadium in Chorzów, near Kattowitz. The contract has ...
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PropertyEU Archive
CBRE books Q2 loss on lower revenue
CB Richard Ellis reported a net loss of $6.6 mln (EUR 4.7 mln), or $0.02 per diluted share, in the second quarter of 2009. This compares with net income of $16.6 mln, or $0.08 per diluted share, in the year-earlier period. Revenue fell from $1.3 bn to $955.7 mln.
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PropertyEU Archive
IMW Immobilien completes sale of 30 properties
Berlin-based IMW Immobilien said it has negotiated contracts worth a total EUR 220 mln for the sale of 30 residential and commercial properties to an unnamed buyer. The contracts relate to properties in Hamburg as well as all IMW's shares in the Prima portfolio (94.54 %).
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PropertyEU Archive
Deutsche Pfandbriefbank completes EUR 40m investment financing
Deutsche Pfandbriefbank has provided a EUR 40 mln investment financing facility for the refinancing of the Altstadt Palais office building in Munich, the bank said on Thursday.
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PropertyEU Archive
Berlin Hyp moves Benelux office to Amsterdam airport
Berlin Hyp has opened a new office for its Benelux operations at the World Trade Center at Amsterdam Schiphol Airport.
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PropertyEU Archive
Pik Group announces board changes
AIM-listed Pik Group, one of Russia's leading residential real estate developers, has announced the appointment of Kirill Pisarev as Chairman of the Board of Directors with effect from 29 July 2009. Pisarev is one of the group's founding shareholders.
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PropertyEU Archive
Bucharest office building gets first Romanian BREEAM rating
The Lakeview office building in Bucharest has become the first building in Romania to achieve a BREEAM rating, certification body BRE Global said in a press release. The building, which was developed by AIG/Lincoln Hungary and is due for completion in December 2009, was awarded a Very Good (Design and ...
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PropertyEU Archive
UK charities plan to invest more in property
As pressure to generate income continues to mount, nearly two thirds (64%) of UK charities are positive about the prospects of investing in property in helping to secure their required income, according to a study conducted by Cordea Savills, the international property fund manager, and investment manager Rensburg Sheppards. Some ...
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PropertyEU Archive
Tesco in sale-and-leaseback in Hungary
Investment firm WP Carey has provided EUR 63m ($90m) in alternative long-term finance through the sale and leaseback of Tesco's logistics portfolio in Hungary, Property Week reported.
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PropertyEU Archive
Oil firm's HQ in Moscow sells for EUR 112m
The Moscow headquarters of Russian energy company OAO RAO UES has been sold for $175mln (EUR 112mln). Cushman & Wakefield Stiles & Riabokobylko, which arranged the sale, identified the buyer as OOO Intercessia.
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PropertyEU Archive
Harbingers of doom depress German real estate sector
Germany's real estate professionals are becoming increasingly sombre just as Europe's largest economy appeared to be getting back into its stride and was attracting large-scale foreign investment after years in the doldrums.
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PropertyEU Archive
Take-up Dutch office market drops 40%: DTZ
While supply of office and industrial space continues to grow in the Netherlands, take-up fell in the first six months of the year, a new report by market leader DTZ Zadelhoff concludes. Office take-up fell 40% to 500,000 m2, the lowest level since the beginning of this decade. The company ...
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PropertyEU Archive
Investec and Credo acquire landmark London property
Investec Property Investments, a division of specialist bank Investec Bank Plc and Credo Property Group have announced the acquisition of 20-24 Carlton House Terrace, London SW1 for approximately £70 mln (EUR 82 mln) from Hermes Real Estate, one of the UK’s largest real estate managers. The building has been acquired ...
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PropertyEU Archive
Aref adds nine new members
The Association of Real Estate Funds (AREF), the representative body for UK unlisted commercial real estate funds, has expanded it membership with the addition of Connaught Asset Management’s Diversified Strategic Land fund and eight affiliate members. This brings AREF’s membership to a total of 70 funds, representing £22 bn in ...
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PropertyEU Archive
Alstria completes two debt refinancings
Alstria office REIT announced on Friday that it has completed two debt refinancings totalling around EUR 76 mln. Of this amount, EUR 68 mln has been used to repay the main syndicated loan. The remaining EUR 8 mln is a CAPEX line which will be used for the funding of ...
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PropertyEU Archive
JLL announces appointments in Kiev
Daniil Vladov has been appointed Head of Jones Lang LaSalle’s representative office in Kiev, Ukraine. This follows the departure of Peter Honey, who has returned to Jones Lang LaSalle’s London office to support the growth of the firm’s European Corporate Solutions business.
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PropertyEU Archive
Norwegian Property appoints new VP investor relations
Elise Heidenreich has been appointed vice-president for investor relations at Norwegian Property from October 1, replacing Truls Birkeland.
