All Real Assets articles in Web Issue – Page 510
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PropertyEU Archive
Affine cuts net loss to EUR 3m
French property group Affine has reduced its net loss to less than EUR 3 mln in 2009 from over EUR 37 mln a year before. In the course of last year, the company's portfolio shed nearly 5% of its value, mostly in the first half, and is currently worth just ...
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PropertyEU Archive
Hansteen acquires German industrial portfolio for EUR 330m
UK and Continental European properlty investor Hansteen Holdings has signed a conditional agreement to acquire a German industrial property portfolio from HBI Sarl and HBI Delta Sub Sarl for an effective acquisition cost of around EUR 330 mln. The deal will be financed from around EUR 70 mln in ...
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PropertyEU Archive
Multi sells 35% interest in Forum Mersin for EUR 68m
Multi Corporation is selling its 35% interest in the Forum Mersin shopping centre in Turkey to Union Investment for EUR 68 mln, the Dutch developer said on Tuesday. The deal makes Union Investment the 100% owner of the mall, which opened in autumn 2007 and is the dominant retail destination ...
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PropertyEU Archive
Amundi RE aims to double French market share in 5 years
Amundi Real Estate, the EUR 5.2 bn property investment company created in January this year from the merger of the asset management arms of Credit Societe Generale and Credit Agricole, intends to become the leading player in the private client market in France and grow internationally.
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PropertyEU Archive
Legal & General Property buys London asset for EUR 63m
Legal & General Property, on behalf of its Managed Fund, said it has purchased the freehold interest in 26 Red Lion Square, London, for around £57 mln (EUR 62.7 mln)from a client of real estate adviser Savills. The purchase price reflects a net initial yield of 8.12%.
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PropertyEU Archive
Advent International in pole position to acquire Mercator's portfolio
US private equity group Advent International is the frontrunner in a bid to acquire EUR 1 bn worth of property being sold by Slovenian retail chain Mercator, according to reliable sources. Mercator is divesting the assets on a sale-and-leaseback structure, sources say.
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PropertyEU Archive
AEW set to launch new European core fund
Investment manager AEW Europe is looking to raise EUR 300 mln of fresh equity for a new fund targeting core properties across Europe. Christian Delaire, Chief Executive of AEW, told PropertyEU in an interview that the group is ‘pre-marketing’ the new vehicle among European, US and Asian institutions, with the ...
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PropertyEU Archive
Corporates aim to cut cost of working by half: survey
Companies emerging from the recession will aim to spend significantly less on corporate real estate, look for growth in headcount without taking on additional office space and intend to deliver real advances in sustainability according to a report released at Mipim by Regus and Unwired Ventures. The report reveals ...
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PropertyEU Archive
Institutional investors to rethink CEE strategies amid scarcity of product
Institutional investors targeting CEE have so far focused exclusively on good, prime assets in Poland and the Czech Republic, but a forecast lack of product in these markets may soon force investors to turn their attention to other type of products or even other CEE countries. Due to the scarcity ...
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PropertyEU Archive
'Arab capital seeking opportunities in Southeast Europe'
Arab property investors may set their sights on countries in Southeast Europe as opportunities dry up in Germany and the UK and the US also loses its attraction, says Nico Veldhuis, former director of Turkey at Dutch developer Multi who recently set up his own real estate consultancy, Veldhuis & ...
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PropertyEU Archive
London City to benefit first from development finance revival: Savills
London's City office market could be the first to benefit from a move by lenders towards commercial development finance as a lack of new stock is forecast to trigger a potential 8.6% annual rental growth over the next five years, according to real estate adviser Savills. The firm said that ...
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PropertyEU Archive
Legal & General, Mitsubishi showcase Piano-designed building at Mipim
Legal & General Property and Mitsubishi Estate Company (MEC) have chosen MIPIM for the European launch of their central London office-led development Central Saint Giles. Designed by world-renowned architect Renzo Piano, it will be his first completed building in the UK and is scheduled to complete at the end of ...
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PropertyEU Archive
'IVG set to dissolve three special funds'
German property group IVG plans to disslove three of its special funds as part of an extensive overhaul of its stable of funds, Ferdinand von Sydow, business manager for IVG Funds, said in an interview with daily newspaper Financial Times Deustchland. 'We are going to sell down three of our ...
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PropertyEU Archive
Prime yields falling to 'unjustified' levels in the UK
The wall of money hitting the UK market has caused prime yields to fall below pre-Lehman levels, according to Paul Clark, director of investment and asset management at the Crown Estate. 'With the occupier market still weak, it's hard to justify prime pricing,' he said. 'I'm less enthusiastic about the ...
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PropertyEU Archive
Industrial occupier markets set for recovery: King Sturge
Industrial property performance is set to improve in 2010 with Central and Eastern Europe leading the way, according to Tim Johnson, head of industrial and logistics at King Sturge. 'It will be a bumpy ride again this year but the CEE market is showing a pick-up in levels of activity ...
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PropertyEU Archive
Swedish investment volumes up 55% in Q1: Savills
Transaction volumes in the Swedish real estate investment market amounted to SEK 14 bn (EUR 1.4 bn) in the first quarter of 2010, up more than 55% on the figure recorded for the year-earlier period, according to real estate adviser Savills. The firm expects this trend to continue throughout the ...
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PropertyEU Archive
UK institutions to increase allocation to non-listed property by 20%
UK institutions are set to increase their allocation to non-listed real estate by 20% over the next three years to £29 bn (EUR 32 bn), according to a new report released at Mipim on Wednesday by European non-listed fund body Inrev. The main source of this growth will be an ...
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PropertyEU Archive
European office markets set for recovery in 2010: BNP Paribas
The year 2010 will be one of recovery for Europe's office markets as demand for prime assets increases and rents stabilise, according to research by global property adviser BNP Paribas Real Estate. The firm bases its findings on take-up, rental growth and investment data across 34 key European cities.
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PropertyEU Archive
European investors stay close to home in 2010: CBRE
Most European real estate investors will target their domestic markets in 2010, although interest in Asia and the US will remain strong, according to the results of a new survey by CB Richard Ellis (CBRE) which was presented on Wednesday at Mipim in Cannes. In the survey of over ...
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PropertyEU Archive
French green properties set to increase 61% in 2010: Savills
Completions of French office properties certified according to the environmental standard HQE (Haute Qualité Environnementale) will increase by 61% in 2010, representing some 650,000 m2, real estate adviser Savills announced at the Mipim fair in Cannes. This compares to a rise of 27% in 2008 and 44% in 2009.
