Property Finance News

Dienstag 09. März 2010
Market-based `Brady' approach needed to meet CMBS challenges, says ING's Rang

Given the overhang of real estate debt, in particular CMBS, a Brady Plan equivalent could be an interesting solution,...

Dienstag 09. März 2010
German property funds look to legal reform to combat disarray

The E87bn German open-end property fund community is badly in disarray, highlighted by recent accusations of a...

Dienstag 09. März 2010
Dramatic change in RE private equity in Year of the Golden Tiger

Powerful, volatile and fast, 2010's Year of the Golden Tiger could bring dramatic and rapid change, according to feng...

Dienstag 09. März 2010
French REITs seen tapping equity markets soon, hope to defuse Solvency II

Three or four larger-cap French REITs are likely to come to market with rights issues in early 2010, says the president...

Dienstag 09. März 2010
Enthusiasm for listed real estate to hold stable despite crisis sell-off-EPRA

The massive sell-off in listed European real estate amid the global financial crisis has not dimmed investor enthusiasm...

Dienstag 09. März 2010
Third German REIT Hamborner aims at active portfolio expansion this year

Duisburg's Hamborner, which late last month became Germany's third Real Estate Investment Trust, aims to expand its...

Dienstag 09. März 2010
Munich's Elystan targets E250m at German banks' distressed assets

German banks are likely to start selling non-performing property assets this year that they have not been willing or...

Dienstag 09. März 2010
French OPCIs to expand, may cut 65% cap if German problem is avoided - ASPIM

French OPCI open-end property funds should grow soon to E8bn, and may boost attractiveness to private savers by cutting...

Dienstag 09. März 2010
AXA REIM sees fund inflows exceeding 2009; to expand debt fund

The property manager of French insurer AXA is expecting capital inflows this year to exceed 2009, with growth in assets...

Dienstag 09. März 2010
New Europrogetti & Finanza supports Italy's opening to PPP

Italy is becoming more open to private capital in public projects and the Milan-based QiREF has acquired, alongside...

Mittwoch 03. März 2010
Rivero, Metrovacesa to stay in Gecina equity

Spanish businessmen Joaquin Rivero and his ally Juan Bautista Soler intend to hold onto stakes in French REIT/SIIC...

Mittwoch 03. März 2010
Finnish 2009 all-property total returns fall to 3.8%

Total return on the Finnish direct property investment market in 2009 was 3.8%, says research firm KTI. Of the two...

Mittwoch 03. März 2010
Aviva, Predica sign for La Défense tower

UK insurer Aviva and Crédit Agricole insurance unit Predica have signed an agreement to construct the 166-metre, 47,000...

Mittwoch 03. März 2010
RREEF stocks up OEF with E123m Frankfurt buy

Deutsche Bank's alternatives group RREEF has acquired Frankfurt's Park Tower office building for around E123m for the...

Montag 01. März 2010
Barcelona office lettings growing after 4Q09 doubles

Barcelona's office market will see further growth in lettings in 2010 following take-up in 4Q09 at double the previous...

Montag 01. März 2010
King Sturge Germany sees RE index correlaton with market

King Sturge Germany says its Real Estate Economic Situation index - based on hard macroeconomic facts - and its...

Montag 01. März 2010
Schroders positive on real estate debt funds

Windows of opportunity exist for real estate equity investors to also include debt funds in their portfolios, says...

Montag 01. März 2010
France's UFG REM looks to invest E700m in 2010

UFG Real Estate Managers, the largest French property fund manager, said it is confident that domestic real estate will...

Montag 01. März 2010
Invesco makes E237m Accor hotels, Stockholm investments

Global investment manager Invesco Real Estate has made nearly E237m of acquisitions, buying five hotels from French...

Montag 01. März 2010
French Nexity posts E50m net loss due to writedowns

Listed French firm Nexity, the nation's largest commercial and resident property developer, posted a E50m net loss for...

Mittwoch 24. Februar 2010
WestImmo arranges E120m financing for Polish shopping centres

The Mainz-based Westdeutsche ImmobilienBank, acting as agent and arranger, has provided MGPA Europe Fund III with a...

Mittwoch 24. Februar 2010
Norwegian Property to split into two; 4Q09 profits rise

Oslo-based Norwegian Property, the four-year-old listed hotels and offices company struggling against high debt since...

Mittwoch 24. Februar 2010
MGPA winds up $480m Global 1 with strong returns

Private equity real estate advisor MGPA, an associate of the Macquarie group, is winding up its Global Fund I, an...

Mittwoch 24. Februar 2010
Hamburg's TAG makes 2nd strategic investment in 2010

Hamburg-based listed TAG Immobilien has taken a stake of around 15% in the smaller listed German firm Estavis at E2.35...

Dienstag 23. Februar 2010
Hamborner becomes 3rd German REIT; aims for growth

The Duisburg-based listed office and retail property group Hamborner yesterday became Germany's third Real Esate...

Dienstag 23. Februar 2010
Germany's Fair Value narrows loss, sees value trend upturn

The Munich-based Fair Value REIT recorded a consolidated 2009 loss of E4.2m, narrowing the shortfall of E13.2m in 2008...

Dienstag 23. Februar 2010
German housing firm Speymill risks breaching covenant

AIM-listed German residential property firm Speymill Deutsche Immobilien said it risks breaching a bank lending...

Dienstag 23. Februar 2010
CA Immo targets up to E500m for German expansion

Vienna-based listed property group CA Immo has up to E500m available for investment this year and is focusing on...

Montag 22. Februar 2010
Asian investors, including Chinese, looking at German real estate - King Sturge

Asia-based investors are becoming increasingly interested in German commercial property, says Sascha Hettrich, head of...

Montag 22. Februar 2010
French FdR narrows net loss, net recurring income up 7%

One of the largest French REIT/SIICs Foncière des Régions more than halved its net loss in 2009 to E262m, with the...

Montag 22. Februar 2010
Deutsche EuroShop sees halved '09 profit but FFO higher

Listed German shopping centre investor Deutsche EuroShop is expecting a 2009 consolidated profit more than halved to...

Montag 22. Februar 2010
Last week to reach MIPIM with Property Investor Europe

The European real estate sector is reviving after the crisis and restructuring fast to meet new challenges. At this...

Montag 22. Februar 2010
Germany's Deka pays Skanska E59m for Stockholm office

Germany's DekaBank has made an acquisition in Sweden for its property fund WestInvest ImmoValue, paying the developer...

Montag 22. Februar 2010
Belgian Befimmo quarterly profit signals turnround

Belgian listed property group Befimmo saw earnings per share improve to E0.69 in the first quarter of its financial...

Montag 22. Februar 2010
Unibail-Rodamco sells five Dutch malls for E235m

French-Dutch shopping centre REIT Unibail-Rodamco has reached agreement on the sale of five Netherlands retail malls to...

Montag 22. Februar 2010
King Sturge German index falls for first time in year

The German Real Estate Climate indicator of international property consultant King Sturge declined for the first time...

Montag 22. Februar 2010
Belgian prime retail vacancy rates near zero - Cushman

Vacancy rates in prime Belgian retail locations are near to zero, according to realtor Cushman & Wakefield. Only nine...

Montag 22. Februar 2010
European banks' sentiment on RE lending improving

European banks' sentiment towards real estate lending has improved for the first time since early 2008, with loan size...

Montag 22. Februar 2010
French SCPI fund see E869m inflows in 2009

French SCPI real estate funds saw net capital inflows of E869m in 2009, boosting total capitalisation 10% to just under...

Montag 22. Februar 2010
French Lucette divests Colisée; price said at E160m

French office REIT/SIIC Compagnie La Lucette, recently acquired by larger peer Icade, has signed a provisional...

Freitag 19. Februar 2010
Global CRE volumes slide 30% to $381bn in 2009

The global volume of commercial property sold in 2009 fell 30% to $381bn, with nearly 11,000 properties selling in...

Freitag 19. Februar 2010
German house price index rises in January

German house prices are showing signs of recovery following the steep falls last year, and in January were in aggregate...

Freitag 19. Februar 2010
NL shopping mall REIT Corio narrows loss; direct result rises 7%

Dutch shopping centre REIT/FBI Corio reported a 2009 net loss of E132m, narrowing the E240m loss from 2008, but saw its...

Donnerstag 18. Februar 2010
French mall REIT Altarea 2009 revenues stable

French shopping centre REIT/SIIC Altarea Cogedim recorded stable 2009 revenues but said it expects strong growth in...

Donnerstag 18. Februar 2010
Disposals boost Icade's 2009 profit 69%

French SIIC/REIT Icade posted a 69% rise in 2009 net profit to E527m but the increase was almost entirely due to...

Donnerstag 18. Februar 2010
AEW Europe eyes 2010 doubling in property deal volume to over E3.5bn

The real estate investment manager AEW Europe is targeting 2010 transaction volume around the continent, combining...

Donnerstag 18. Februar 2010
Sweden's Fabege launches share buy-back; no price range given

Swedish listed property group Fabege has started the share buy-back program approved by its shareholder meeting last...

Mittwoch 17. Februar 2010
Hamburg's Union pays Sonae, Euris E316m for 91% of Berlin's Alexa

Hamburg-based Union Investment, the fund manager of the German cooperative banking network, is paying Lisbon-based...

Mittwoch 17. Februar 2010
Hamburg's Union pays Sonae, Euris E316m for majority of Berlin's Alexa

Hamburg-based Union Investment, the fund manager of the German cooperative banking network, is paying Lisbon-based...

Mittwoch 17. Februar 2010
Rivero resigns as chairman of French REIT Gecina

Joaquin Rivero has resigned as chairman of Gecina, one of France's largest REITs, but will remain as a company...

Mittwoch 17. Februar 2010
French REIT Tour Eiffel reports 2009 rental climb of 5.7%

French REIT/SIIC Société de la Tour Eiffel increased directly comparable rents in its portfolio last year by 5.7%....

Mittwoch 17. Februar 2010
Unibail-Rodamco sells five Dutch malls to Wereldhave for E235m

French-Dutch shopping and conference centre REIT Unibail-Rodamco has sold five Netherlands retail malls to Dutch listed...

Mittwoch 17. Februar 2010
Sponsorship deadline nears for PIE MIPIM Edition

Property Investor Europe closes its MIPIM Special Edition for sponsorship and advertising on Wednesday 24 February....

Mittwoch 17. Februar 2010
Orco wins bank loan extension, nears court bond ruling

Troubled Czech developer Orco Property Group has renegotiated and extended all loans from 33 banks, totalling over...

Mittwoch 17. Februar 2010
German office values resume rise in 4Q - JLL's VICTOR

Jones Lang LaSalle's VICTOR valuation index of prime office property in the Big Five German cities rose by 1.8% in the...

Mittwoch 17. Februar 2010
Berlin GSW housing IPO held up by Berlin Senate talks

What could potentially be the largest real estate stock market flotation in Germany for several years, the 52,000-unit...

Montag 15. Februar 2010
Foncière Paris France loss on debt charges, write-offs; operating improves

Paris commercial property REIT/SIIC Foncière Paris France reported a wider 2009 net loss of E11.3m from E6.6m in 2008...

Montag 15. Februar 2010
French Klepierre '09 profit hit by debt costs, 7% writedown

French shopping centre REIT/SIIC Klépierre reported a decline in net profit to E162m in 2009 from E200m in 2008, as...

Montag 15. Februar 2010
Hatfield Philips is largest property loan servicer outside US

Hatfield Philips, the London-based real estate loan servicing company owned by Florida-based private equity group LNR...

Montag 15. Februar 2010
Sweden's Hufvudstaden posts loss from writedowns, sees better 2010

A 6% markdown in the property portfolio of Swedish listed firm Hufvudstaden, controlled by the Lundberg group, brought...

Freitag 12. Februar 2010
European prime supply, demand to move toward balance - C&W

The European economic recovery will be slow and uneven this year but it will be sustained, and many concerns such as...

Freitag 12. Februar 2010
Rental declines halt in London, Oslo, Warsaw - JLL

Europe's economies continue to show encouraging signs of economic recovery in fourth quarter, and though markets vary...

Freitag 12. Februar 2010
Rabobank's Bouwfonds suspends housing fund capital inflows

Bouwfonds, the real estate arm of the private Dutch Rabobank group, is seeing soaring

interest from institutional...

Freitag 12. Februar 2010
Finnish mall group Citycon narrows net loss, sees stable finances

Finland-based listed shopping centre group Citycon sharply narrowed its net loss for 2009 to E37m from a deficit of...

Freitag 12. Februar 2010
European RE investment boosted by deal size, volumes

Growth in European commercial real estate investment turnover is being driven both by an increase in deal size and a...

Freitag 12. Februar 2010
ProLogis European cuts 2009 loss, completes de-leveraging

ProLogis European Properties, a Luxembourg-based listed owner of distribution facilities, narrowed its net loss for...

Freitag 12. Februar 2010
German prime office values rise 1.8% in 4Q09 - Jones Lang LaSalle's VICTOR

Jones Lang LaSalle's VICTOR valuation index of prime office property in the Big Five German cities rose by 1.8% in the...

Freitag 12. Februar 2010
Aberdeen's German open property fund depreciation sparks Pramerica re-closure

The sudden 22% portfolio depreciation of German property fund DEGI Global by its manager Aberdeen has thrown shockwaves...

Freitag 12. Februar 2010
French REIT Silic boost 2009 net 15%, raises dividend

French industrial park REIT/SIIC Silic, 43% controlled by insurer and financial services group Groupama, reported a...

Dienstag 09. Februar 2010
Unibail-Rodamco posts wider E1.5bn net loss, sees better 2010

French-Dutch REIT Unibail-Rodamco, the largest listed property company in Europe, posted a 7% rise in recurring...

Montag 08. Februar 2010
German open property funds have E3.2bn inflows to E87bn total in 2009

German open-end property funds ended 2009 with total capital under management of E86.8bn, having taking in a net E3.2bn...

Montag 08. Februar 2010
Unibail-Rodamco to pay E715m for Simon Ivanhoe's European portfolio

French-Dutch shopping centre REIT Unibail-Rodamco, the largest listed company in Europe, has confirmed speculation that...

Samstag 06. Februar 2010
MIPIM 2010 investor registrations up 12%

The first major European real estate trade fair of the year, MIPIM taking place in Cannes in March, has received 12%...

Samstag 06. Februar 2010
Paris-La Défense eases permit terms for five towers

The management of the Paris office complex La Défense has eased permit conditions for five new towers to encourage...

Samstag 06. Februar 2010
AIM's Speymill reviews debt to avert covenant breaches

The AIM-listed German residential property fund Speymill is to seek additional financing to avert potential debt...

Samstag 06. Februar 2010
European RE shares offer selective value - LIM

The outlook for real estate securities in Europe is relatively normal going forward, with equity and bond markets open...

Freitag 05. Februar 2010
US housing, money, bad loans mean crisis not yet over

The world economy is far from exiting the global financial crisis and three elements point to further weakness - the...

Freitag 05. Februar 2010
Germany's DekaBank to acquire up to E2bn real estate in 2010

Germany's largest open-end property fund manager DekaBank, the central investment bank of the savings bank network, is...

Freitag 05. Februar 2010
Former Kenmore officials launch Tamar; acquire £750m portfolio

Former top officials of the Scottish real estate management group Kenmore, now in insolvency, have launched Tamar...

Montag 01. Februar 2010
Register now for PIE's Central & Eastern Europe Property Breakfast, 26 February, London-West End

Register now for Property Investor Europe's Central & Eastern Europe Property Breakfast, which takes place on 26...

Montag 01. Februar 2010
The World's Biggest Real Estate Investors have a thing or two to say

"So there I was. Start of the year. Gradually easing into the work rhythm; thinking of nothing in particular at the...

Montag 01. Februar 2010
Foreign banks, US legislators looking at Pfandbrief issuance-VDP's Tolckmitt

Because of the comparative stability of the Pfandbrief German covered bond amid the global crisis, foreign banks are...

Montag 01. Februar 2010
Credit, tenant delays will tighten Paris office supply, says Continentale Générale

The absence of new office development in Paris caused by the lack of bank credit and tenant hesitatncy is likely to...

Montag 01. Februar 2010
German law changes needed on REITs, interest cap, green-Hannover Leasing's Volckens

German real estate urgently needs legislative change, including support for its fledgling REITs sector, adjustment of...

Montag 01. Februar 2010
CMBS refinancing present long-term restructuring challenges-NIBC's Roth

Refinancings in European real estate, peaking in 2013 and 2014, are producing a huge demand for creative solutions, and...

Montag 01. Februar 2010
Allianz targets E2.5bn at real estate this year, helped by yield pickup-Brendgen

German insurer Allianz is targeting E2.5bn at real estate this year to boost its property allocation and raise...

Montag 01. Februar 2010
Signs of Life Returning to European CMBS Market-Verhoosel

The European Commercial Mortgage Backed Securities will continue to face widespread rating downgrades which could...

Montag 01. Februar 2010
Invesco allocates E1bn in 2009, eyes Scandinavia, Germany

Invesco Real Estate allocated around E1bn to European property in 2009 after resuming investment after an 18-month...

Donnerstag 28. Januar 2010
French SNCF railway transfers office stock to new unit

The French state railway company SNCF in late 2009 transferred 30% of its office stock into a newly created property...

Donnerstag 28. Januar 2010
Russian real estate on offer to Chinese funds

Russian and Chinese partner companies signed an agreement late last year to develop investment and construction...

Donnerstag 28. Januar 2010
EMEA 2009 hotel investment slides 50% - Cushman

Investment in hotels in Europe, Mid-East and Africa in 2009 fell by over 50% to just E3.2bn compared with 2008, and...

Mittwoch 27. Januar 2010
Commercial real estate investment rises across 70% of world - RICS

Investment activity in commercial property as an asset class rose across 70% of the globe rose in the fourth quarter as...

Mittwoch 27. Januar 2010
Germany's Union ready to close E500m investments

Germany's Union Investment, the Hamburg-based fund manager of the cooperative banking system, has around E2.1bn of real...

Mittwoch 27. Januar 2010
Allianz's E2.5bn property target helped by yields

The giant German insurance group Allianz is targeting E2.5bn at real estate this year or next to boost its property...

Mittwoch 27. Januar 2010
Germany's Commerz targets E2bn for property in 2010

Commerz Real, the German real estate fund manager belonging to the Commerzbank group, is likely to deploy equity...

Mittwoch 27. Januar 2010
Deka could have taken E4bn new capital in 2009

Last year, the fund manager of the German savings bank system DekaBank could have taken in as much as E4bn in new...

Mittwoch 27. Januar 2010
Credit shortage, tenant delays to keep Paris office supply low

The absence of new office development in Paris caused by the lack of bank credit is likely to spark a shortage of...

Mittwoch 27. Januar 2010
Elystan Capital launched to invest in distressed German mortgage assets

A new Munich-based real estate investment firm, Elystan Capital Advisers, is launched today to target non-performing...

Dienstag 26. Januar 2010
French SCPI funds should limit institutions - Natixis

There has been a marked increase in investment flows into French property funds, according to Alain Pivert, director of...

Dienstag 26. Januar 2010
Russia, Poland to lead European construction - study

A new report on global construction conducted by British research group Oxford Economics shows emerging markets will...