All Real Assets articles in Web Issue – Page 840
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PropertyEU Archive
WestImmo to be transferred to 'bad bank' on 30 June
Stricken German lender WestLB, which received state aid following the financial crisis in 2008, will transfer a portfolio valued at around EUR 100 bn, including WestImmo, to Germany's so-called 'bad bank' EAA on 30 June 2012.
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PropertyEU Archive
Commerzbank exit from property lending no surprise to analysts
Commerzbank's decision to pull the plug on commercial real estate lending, announced on Tuesday, has not come as a surprise to many analysts, who say it has 'always been short of equity'. 'In addition, there is also an 'accounting trick' if you wind a business down like this; it helps ...
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PropertyEU Archive
ULI appoints policy director for Europe
The Urban Land Institute (ULI) has appointed Katie Smith as director of policy for Europe. In this new role, she will lead the European research strategy, contribute to the design and delivery of conferences, panels and other events and provide strategic advice to the European policy and practice committee.
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PropertyEU Archive
Sjælsø sells Copenhagen resi project to institutional duo
Danish real estate firm Sjælsø has sold a residential project in Copenhagen to pension fund manager PKA and insurer Topdanmark for DKK 1 -1.1 bn (EUR 134 - 147 mln). The final sales price will be determined when construction is completed and the apartments have been let.
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PropertyEU Archive
Europe on edge of property financing evolution: Henderson
Europe's real estate financing system has begun the slow evolution towards a more diverse model now that the Continent's banks are no longer in a position to lend at traditional levels, according to John Feeney, head of commercial real estate debt at Henderson Global Investors.
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PropertyEU Archive
Goodman reorganises European management team
Listed global industrial property group Goodman has appointed Kristof Verstraeten as commercial director for its Continental European operations. The appointment forms part of a major reorganisation of Goodman's European management team which the company says is driven by the growth of its European business, both in terms of assets under ...
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PropertyEU Archive
Henderson prepares German logistics fund with Palmira
Henderson Global Investors is working on a new special fund (Spezialfonds) with Palmira Capital that will invest in German logistics assets.
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PropertyEU Archive
Redevco opens Magnesia mall in Turkey
Private Amsterdam-based real estate company Redevco opened its Magnesia Shopping Center in the western Turkish city of Manisa on Thursday.
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PropertyEU Archive
Czech H1 investment volumes plummet: CBRE
Real estate investment volumes in the Czech Republic plunged 75% to EUR 183 mln in the first half of 2012 compared to H1 2011, according to preliminary figures from CBRE. Compared with the second half of 2011, volumes were down 87%.
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PropertyEU Archive
Prologis to wind up EUR 2.5b PEPR fund
Prologis, the global industrial property specialist, has begun the formal process of winding up its listed and externally managed fund which owns more than EUR 2 bn of assets in Europe. Prologis indicated it will take ownership of the Prologis European Properties (PEPR) properties and assume responsibility for its liabilities ...
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PropertyEU Archive
Henderson to expand Swindon designer outlet by 4,650 m2
Henderson Global Investors, on behalf of its Swindon designer outlet centre, has submitted a planning application for the development of more than 50,000 sq ft (4,650 m2) of new retail and catering space at the centre, representing an investment of £35 mln (EUR 43 mln).
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PropertyEU Archive
VIB Vermögen acquires Nuremberg asset for EUR 27m
Munich-listed property firm VIB Vermögen has acquired an 85,282 m[sup]2[/sup] office and logistics asset in the German city of Nuremberg for just under EUR 27 mln. The property is 91% let. The vendor was not identified.
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PropertyEU Archive
Prupim buys office building in Bristol for EUR 32m
Prupim, the real estate investment arm of financial services group Prudential, has acquired the Temple Circus Building in Bristol for £26 mln (EUR 32.5 mln).
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PropertyEU Archive
Knight Frank markets prime Dublin office at 9.4%
Agent Knight Frank has been hired to market a prime office building and adjoining multi-storey car park in Dublin city centre’s International Financial Services Centre for a price over EUR 28 mln, representing a net initial yield of 9.4%.
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PropertyEU Archive
Skanska sells office in Malmö for EUR 74m
Construction and development group Skanska has sold the Bassängkajen office property in the Swedish city of Malmö to Swedish property company Vasakronan. The deal was conducted as a corporate transaction, in which the price was based on a property value of SEK 652 mln (EUR 74 mln).
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PropertyEU Archive
Newsec appoints new managing director
Henrik Granström has been appointed managing director of Newsec, replacing Urban Edenström who will resume his role as CEO of the holding company Stronghold and chairman of the wholly owned subsidiaries Newsec, Niam and Datscha.
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PropertyEU Archive
Commerzbank pullout from RE lending 'blow to sector'
Commerzbank's decision to wind up its commercial real estate lending business, announced last week, is a blow to the sector, Frank Pörschke, head of Germany at JLL, told PropertyEU.
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PropertyEU Archive
Commerzbank fire sales 'not on the cards'
Fire sales of Commerzbank's non-core real estate assets are 'not on the cards', Stefan Otto, head of ship financing at Commerzbank, told PropertyEU, following the news that the German lender is pulling out of commercial real estate financing altogether.
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PropertyEU Archive
London & Stamford completes Unilever House deal
UK REIT London & Stamford has completed the acquisition of Unilever House, a 17,000 m[sup]2[/sup] office building at Leatherhead Office Park in Surrey, for £61.1 mln (EUR 76 mln), reflecting a net initial yield of 6.85%. The vendor is Scottish Widows Investment Partnership and Orchard Street Investment Management.
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PropertyEU Archive
Idea Fimit takes over Duemme's property funds
Italian fund manager Idea Fimit has signed an agreement to acquire smaller peer Duemme's eight property funds representing 60 buildings with a value of around EUR 560 mln.
