All Real Assets articles in Web Issue – Page 497
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PropertyEU Archive
Klépierre plans fresh acquisitions in 2010
Retail specialist Klépierre is planning to spend between EUR 500-800 mln on new acquisitions this year and to divest between EUR 250-400 mln as part of its ongoing asset disposal programme. The Paris-listed company made the announcement at the presentation of its 2009 earnings figures after bourse on Tuesday.
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PropertyEU Archive
Poste Italiane to sell EUR 50m Milan office
Poste Italiane, the Italian postal services group, has put its Milan headquarters up for sale. The minimum bid for the historical building in the centre of Milan is EUR 50 mln, the state-owned group said, with the bidding process planned to close on March 25.
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PropertyEU Archive
Strong investor appetite for Bouwfonds European Residential Fund
Management of the Bouwfonds European Residential Fund has introduced a reservation system in the wake of strong investor appetite from primarily institutional investors. The fund manager had already increased its acquisition pipeline and introduced a waiting list for amounts above EUR 5 mln after total inflows far exceeded expectations in ...
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PropertyEU Archive
Sporadic signs of recovery in CEE: JLL
There are early but sporadic signs of recovery in the markets of Central and Eastern Europe, according to Jones Lang LaSalle's report CEE City Reports Q4 2009.
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PropertyEU Archive
C&W forecasts recovery of European markets
Cushman & Wakefield is forecasting a slow recovery in European property markets this year on the back of positive GDP growth in most economies. 'Momentum may slow in the second half of the year as the cyclical impact of restocking fades, but, for now at least, a double-dip recession ...
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PropertyEU Archive
Lot size and deal velocity drive market recovery
Growth in European commercial real estate investment turnover is being driven both by a notable increase in the size of transactions and a sharp rise in the number of transactions being completed, according to a forthcoming report by CB Richard Ellis. The number of transactions completed in Q4 2009 rose ...
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PropertyEU Archive
Unibail-Rodamco steps up mall renovation programme
Unibail-Rodamco has stepped up its renovation programme of its 'jumbo' shopping malls. Speaking during a conference call on the company's 2009 results, CEO Guillaume Poitrinal said the global economic crisis has made the renovation programme more urgent than ever. 'And the crisis makes it easier in the sense that it ...
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PropertyEU Archive
Multi Corporation ousted from 1st place in developers ranking
Multi Corporation has been ousted from first place in the PropertyEU ranking of top developers in 2009 both in terms of the value and the size of its development pipeline. In value terms, ING Real Estate Development now takes the lead with a pipeline valued at EUR 7.7 bn at ...
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PropertyEU Archive
Retail investment up almost 60% in Europe in Q4 2009
Retail real estate transaction volumes in Europe rose nearly 60% to EUR 4.5 bn in Q4 2009, with the number of deals up to 100 from 66 in Q3 2009, according to Jones Lang LaSalle. However, full-year total volumes in 2009 fell 32% to EUR 12.3 bn compared with 2008.
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PropertyEU Archive
PEPR cautious on outlook after 'year of deleveraging' in 2009
Prologis European Properties (PEPR) said EPRA earnings fell 18.8% to EUR 103.6 mln in 2009 from EUR 127.7 mln in 2008, due to a EUR 26.9 mln decline in rental income and the EUR 10 mln early termination of CMBS interest rate swaps. The decrease was partially offset by lower ...
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PropertyEU Archive
Allianz snaps up k3 office project in Hungary
Hungarian real estate developer Wing has sold the k3 green office building in Budapest to German investor Allianz, a Wing spokesperson confirmed to PropertyEU on Thursday. Allianz plans to use the complex with 17,400 m[sup]2[/sup] of office space as its new head office in Hungary.
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PropertyEU Archive
Stenham sells London building to Aegon for £40m
UK investor Stenham Property has completed the sale of London's 52 Grosvenor Gardens office building for over £40 mln (EUR 45 mln) just nine months after acquiring it from Grosvenor Estates for £25 mln. According to a Stenham spokesperson, the property was sold to the asset management arm of Dutch ...
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PropertyEU Archive
Invesco closes EUR 66m acquisition of Stockholm Marriott Courtyard
Invesco Real Estate announced on Thursday that it has concluded the acquisition of the newly built Marriott Courtyard Hotel in Stockholm for EUR 66 mln. The transaction was the 15th hotel purchased or committed to acquire on behalf of Invesco's hotel fund and the fund's first acquisition in Scandinavia.
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PropertyEU Archive
Vacancy rate in Belgian prime retail locations close to zero
The vacancy rate for retail units in Belgium's prime lcoations is no more than 0.02%, according to figures from Cushman & Wakefield. This translates into the availability of just nine units for let, the adviser said in response to alarming vacancy figures published recently by Locatus in the Belgian press.
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PropertyEU Archive
UK commercial property sees yields stabilise
Prime yields for UK commercial property stabilised in January, dropping just 7 basis points, the smallest monthly fall since May 2009, according to Cushman & Wakefield’s January Business briefing on the UK property investment market. The slowdown takes the all-sector average to 6.02%. Renewed falls of the scale seen last ...
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PropertyEU Archive
Pramerica freezes TMW Weltfonds for the second time
Pramerica Real Estate Investors, the property arm of Prudential Financial, said that it has halted redemptions from its TMW Immobilien Weltfonds vehicle following unusually heavy redemptions. 'The management of the fund has decided on the basis of no longer sufficient liquidity, and in order to protect the investors, to close ...
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PropertyEU Archive
PEPR posts 13.4% portfolio devaluation in 2009
Prologis European Properties (PEPR), one of Europe's largest owners of distribution facilities, said the total open market value of its like-for-like portfolio decreased by 13.4% in 2009, with continental European countries recording valuation declines of between 12.3% and 18.9% compared with 2008. The UK showed signs of improvement, falling 5.2% ...
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PropertyEU Archive
Office investment rises sharply in CEE in H2 2009
Stronger demand for office space in Central and Eastern Europe (CEE) in the second half of 2009 compared to H1 2009 cushioned the full-year decline in the region, according to new research by CB Richard Ellis (CBRE). H2 2009 office take-up increased by 22% as compared to H1 2009, but ...
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PropertyEU Archive
IPD sees central London office rental revival in 2010
City and West End offices resumed rental growth in January, at 0.2% and 0.3% respectively, according to the IPD UK Monthly Index. During the same month, capital growth eased to 1.0%.
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PropertyEU Archive
UBS plans EUR 361m capital raise for Swiss fund
Swiss fund manager UBS said that it plans to carry out a capital increase of up to CHF 530 mln (EUR 361 mln) for its Swiss Mixed Sima real estate investment fund. The fund raising will be executed through the issue of new warrants, and the financial details of the ...
