All Real Assets articles in Web Issue – Page 564
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PropertyEU Archive
Immofinanz back in the black after turnaround
Austrian real estate developer Immofinanz swung back to profit in the financial year ending April 30, from a loss of EUR 3.4 bn the previous year following writedowns on assets and development projects. Full-year pretax profit totalled EUR 208 mln, dented by a writedown in the fourth quarter to April ...
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PropertyEU Archive
Hamburg-based HIH launches first Belgian fund
Hamburgische Immobilien Handlung (HIH) said on Tuesday that it is bringing its first Belgian closed-end real estate fund to the market. The HIH Global Invest 2003 - Belgium investment vehicle, with a life term of 10 years, has already made its first acquisition with the purchase of an office property ...
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PropertyEU Archive
WP Carey finances Panattoni development in Poland
Investment firm WP Carey & Co. has announced that one of its publicly-held, non-traded REIT affiliates has provided build-to-suit financing that will fund 100% of the construction and related development costs for a logistics facility in Poznan, Poland, being developed by Panattoni Europe.
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PropertyEU Archive
Hammerson confirms talks with Korea's NPS to sell French mall
UK REIT Hammerson confirmed on Tuesday that it is 'in discussions' regarding the potential sale of 51% of its interest in the O'Parinor shopping centre, Aulnay-Sous-Bois, near Paris, to South Korea's National Pension Service (NPS). The stake is said to be worth around EUR 230 mln.
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PropertyEU Archive
Sveafastigheter, Leimdorfer expand Finnish operations
Swedish private equity firm Sveafastigheter has hired six new employees for its Helsinki office which opened in February this year.
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PropertyEU Archive
Invista REIM strengthens its industrial team
UK listed real estate fund manager Invista Real Estate Investment Management (Invista REIM) has announced the appointment of Tom Gamble and George Dickens to its industrial team as director and associate director respectively.
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PropertyEU Archive
RBS sells EUR 1.4 bn loan portfolio
Intermediate Capital Group, a private equity group specialising in mezzanine finance and buyout debt, has agreed to acquire a portfolio of European senior loans worth some EUR 1.4 bn from the Royal Bank of Scotland (RBS).
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PropertyEU Archive
Atrium reports sharp swing back to profit in H1
CEE shopping centre specialist Atrium European Real Estate has reported a return to profit for the first half of 2010, largely due to a sharp upward revaluation of its properties. Pre-tax profits came in at EUR 104 mln, from a loss of EUR 325 mln in the same period a ...
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PropertyEU Archive
Deka shops in London with EUR 118m buy
Germany's Deka Immobilien has acquired the 14 Pier Walk office building in London from Greenwich Peninsula Regeneration, a joint venture between Lend Lease and Quintain. The transaction amounts to just over £97 mln (EUR 118 mln) .
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PropertyEU Archive
European hotel investment set to double in H2
Investment activity in the European hotel market is starting to pick up, and growth is expected to accelerate further in the second half of 2010, according a new research report issued by Jones Lang LaSalle Hotels.
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PropertyEU Archive
Eroski sells 21 retail units to Rockspring for EUR 45m
Spanish food retailer Eroski has completed its fourth disposal of the year, with the sale-and-leaseback of 21 neighbourhood grocery stores and stand-alone units to Rockspring Property Investment Managers (Rockspring), on behalf of a single-client account for around EUR 45 mln.
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PropertyEU Archive
Reis Group sells Paris building to Deka for EUR 75m
Germany's Deka Immobilien has acquired the fully-let Opéra Gramont office complex in the financial district of Paris from Reis Group, part of the Santander Real Estate Advisory programme for around EUR 75 mln. The property is earmarked for Deka's WestInvest ImmoValue open-ended mutual property fund, which is geared to institutional ...
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PropertyEU Archive
EPRA slams lease accounting proposals
EPRA, the European organisation for listed real estate companies, has pledged to oust proposals from the International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB), arguing they will substantially increase landlords' debt position, according to an article in Het Financiele Dagblad.
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PropertyEU Archive
Legal&General appoints new fund and asset managers
Legal & General Property (LGP) said on Tuesday that it has appointed Will Edwards as fund manager for its Linked Pensions Property Fund and Greg Westover as senior asset manager for its Linked Life Fund.
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PropertyEU Archive
Redevco names new country manager for the Netherlands
European retail property company Redevco said on Wednesday that it has appointed Clemens Brenninkmeijer to the position of country manager of the Netherlands, effective October 1, 2010. He is currently portfolio director at Redevco Turkey.
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PropertyEU Archive
Eurohypo sees losses narrow in H1
German real estate lender Eurohypo saw its pre-tax loss narrow to EUR 215 mln in the first half of 2010, largely reflecting revenue growth and reduced costs. The figure compares to a pre-tax loss of EUR 515 mln for the same period in 2009.
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PropertyEU Archive
Goodman's net loss narrows to EUR 393m in 2010
Australian industrial REIT Goodman Group reported net losses narrowed to A$562 mln (EUR 393 mln) in the year ended June 30, compared with a A$1.12 bn loss a year earlier, largely as a result of reduced property writedowns in its portfolio.
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PropertyEU Archive
Hammerson offloads O'Parinor stake for EUR 217m
UK REIT Hammerson has exchanged contracts to sell 51% of its interest in the O'Parinor shopping centre, Aulnay-sous-Bois, near Paris, to the National Pension Service of Korea (NPS), advised by Rockspring Property Investment Managers. The transaction amounts to EUR 217 mln, after costs of EUR 5 mln. NPS and Hammerson ...
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PropertyEU Archive
Partners Group provides £40m financing for London asset
Swiss listed property investment manager Partners Group said on Thursday that it has provided a senior B debt facility for the refinancing of 5 Canada Square in London's Canary Wharf on behalf of its clients.
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PropertyEU Archive
Brookfield appoints Corpus Sireo to manage German portfolio
US Brookfield Asset Management's European arm has appointed German real estate asset manager Corpus Sireo as the new property and asset manager of its German portfolio.
