Property Finance News

Freitag 08. Januar 2010
Germany's Colonia RE demands wind-up of HSH business link over care fund

Cologne-based listed property group Colonia Real Estate is seeking an end to its working relationship with HSH Equity...

Mittwoch 06. Januar 2010
Green Street starts Unibail coverage with buy recommendation

In initiation of coverage of French-Dutch shopping centre REIT/SIIC Unibail-Rodamco, real estate analyst house Green...

Mittwoch 06. Januar 2010
Germany acquires third REIT in Duisburg's Hamborner

Germany has acquired its third Real Estate Investment Trust, kicking off a year that promises to be significantly more...

Dienstag 05. Januar 2010
MSREF sells Lucette control to Icade, takes 4.5% stake

French SIIC/REIT Icade and its counterpart Compagnie la Lucette are to merge. Morgan Stanley Real Estate Fund V, which...

Dienstag 05. Januar 2010
Immofinanz, Immoeast set shareholder merger meetings

The management and supervisory boards of allied Austrian property groups Immofinanz and Immoeast, in the process of...

Dienstag 05. Januar 2010
Rotterdam starts construction of E350m highest tower

Real estate developers MAB Development and OVG Real Estate have begun construction of the Netherlands' largest building...

Dienstag 05. Januar 2010
Poland to be Guest of Honour at MIPIM 2010

Poland, one of the few European countries that did not go into recession in 2009, will be the Guest of Honour at MIPIM...

Dienstag 15. Dezember 2009
Last issue for 2009: Happy, Healthy and Prosperous New Year 2010 from PIE/PFE!

In this last issue of PIE/PFE for 2009, we wish a very happy, healthy and prosperous 2010 to you, our Reader, and your...

Dienstag 15. Dezember 2009
Last issue for 2009: Happy, Healthy and Properous New Year 2010 from PIE/PFE!

In this last issue of PIE/PFE for 2009, we wish a very happy, healthy and prosperous 2010 to you, our Reader, and your...

Dienstag 15. Dezember 2009
European property at turning point, returns rising - Aberdeen

Property markets in Europe have reached a turning point and the performance outlook

continues to recover, largely...

Dienstag 15. Dezember 2009
French REIT Icade said to acquire Cie Lucette

The French REIT/SIIC Icade is about to acquire Compagnie La Lucette, a listed counterpart group controlled by Morgan...

Dienstag 15. Dezember 2009
Unibail eyes Simon's European portfolio, to exit FBI status

French-Dutch retail mall giant Unibail-Rodamco is in negotiation with US REIT Simon Property to purchase over e1bn in...

Dienstag 15. Dezember 2009
German housing firm GSW starts IPO preparations

Berlin-based housing company GSW, controlled by Goldman Sachs' Whitehall Funds and private equity group Cerberus, is...

Dienstag 15. Dezember 2009
Internos acquires remains of GPT Halverton for nominal e2

The London-based Internos Real Investors, launched in 2008 by Jos Short and Andrew Thornton, has acquired GPT...

Dienstag 15. Dezember 2009
Germany's Hochtief cancels IPO of Concessions unit

The Essen-based construction group Hochtief in early December hastily called off its planned IPO of its industrial...

Dienstag 15. Dezember 2009
Property FoF activity slides but sector to pick up-INREV

Real estate funds of funds have recorded very low activity in 2009, with just five equity investments of e75m made to...

Dienstag 15. Dezember 2009
Cordea Savills fund equity collect surges in 4Q09

International property fund manager Cordea Savills has boosted acquisitions and fundraising in recent weeks, acquiring...

Montag 14. Dezember 2009
Internos acquires remains of GPT Halverton for nominal e2

The London-based Internos Real Investors, launched in 2008 by Jos Short and Andrew Thornton, has acquired GPT...

Montag 14. Dezember 2009
European property at turning point, returns rising - Aberdeen

Property markets in Europe have reached a turning point and the performance outlook continues to recover, largely...

Montag 14. Dezember 2009
Unibail-Rodamco to leave the Dutch FBI/REIT regime

In a move that is a wake-up call to the Dutch government to clarify real estate legislation, the giant shopping centre...

Montag 14. Dezember 2009
Austria's conwert starts 3rd share buyback program

Vienna-based listed apartment housing developer and investor conwert Immobilien is to commence a third share buyback...

Donnerstag 10. Dezember 2009
Colony, Orion buy Goldman Sachs part of Colonial e4.2bn loan

Two private equity and opportunity funds, Colony Capital and Orion Capital Managers, have acquired from Goldman Sachs...

Dienstag 08. Dezember 2009
Pramerica reopens German RE fund, imposes institutional deadlines

In a move likely to bring some relief to the beleaguered German open-end property fund industry, Pramerica Real Estate...

Montag 07. Dezember 2009
Subscriber free entry to Green Property Breakfast in London on Friday; Location change to DLA Piper offices

PIE subscribers gain free entry to the Green Property Breakfast this Friday. Register now to secure your place when op...

Montag 07. Dezember 2009
PIE CEO Insights 2010: Recovery not yet through by end-2010

In exclusive forecasts for PIE, 10 CEOs and senior decisionmakers predict the state of European real estate in December...

Montag 07. Dezember 2009
Baum sees office underperforming, publishes new book

Office real estate underperforms inflation and should be avoided as an investment asset, says Andrew Baum, RE professor...

Montag 07. Dezember 2009
Swiss Prime has no plans for layoffs after Jelmoli buy

The listed Zurich-based property group Swiss Prime Site has no plans to exit from the House of Brands retail chain...

Montag 07. Dezember 2009
Deutsche Euroshop posts 12% 9mth revenue rise

German mall investor Deutsche EuroShop, which has stakes in 16 European malls in Germany, Austria, Hungary and Poland,...

Montag 07. Dezember 2009
Former Carrefour directors launch E1bn retail SICAV

Two former property directors of the French supermarket group Carrefour have launched a Luxembourg SICAV, New Europe...

Donnerstag 03. Dezember 2009
Former Halverton CEO starts Palmira manager in Germany

A new investment management company, Palmira Capital Partners focusing mainly on light industrial real estate assets in...

Donnerstag 03. Dezember 2009
Paris office rents seen falling 7.5% in 2010

Prime office rents in central Paris are expected to decline around 7.5% next year against a background of growing...

Donnerstag 03. Dezember 2009
Orion Capital closes new fund above target at e1.28bn

Private, opportunity fund manager Orion Capital Managers has completed the final closing of capital raising for its...

Montag 30. November 2009
PIE/PFE subscriber free entry to Green Property Breakfast-Year End Special Offer

PIE/PFE Christmas/Year-end Special Reader Offer: A panel of top decisionmakers will answer the question: "Will...

Montag 30. November 2009
CEE hotels developer Warimpex sees asset value revival

Listed Austrian CEE hotels developer and investor Warimpex returned to the black in the third quarter, mainly due to a...

Montag 30. November 2009
Germany's IVG weighs larger capital increase - CFO

Germany's largest listed property company by assets, the Bonn-based IVG, is considering a larger capital increase to...

Montag 30. November 2009
US Cornerstone, UK Protego to manage $30bn AUM

Massachusetts Mutual Life Insurance is entering European direct property by acquiring London-based Protego Real Estate...

Montag 30. November 2009
French REIT Icade in e2bn block housing sale

Pursuing its policy of exiting from housing activities, French REIT/SIIC Icade, majority controlled by state bank...

Montag 30. November 2009
Germany's Aareal does e2.4bn new business in first 9mths

Germany's Aareal Bank did new property lending of e2.4bn in the first nine 2009 months, concentrating on its existing...

Montag 30. November 2009
Retail occupier market unlikely to recover yet - King Sturge

Amid early signs of activity in European retail investment markets, occupiers face at least two more years of hardship...

Montag 30. November 2009
Tepid European office market to continue -Moody's

The European office occupational markets that support commercial mortgage-backed securities stabilised at a low level...

Montag 30. November 2009
Swiss Züblin 1H09 earnings down on asset sales

Swiss listed property group Züblin Immobilien Holding announced rental income for the six months ending 30 September of...

Montag 30. November 2009
Spain sees rapid readjustment in retail development pipeline

Spanish retail property developers have reacted quickly to the global downturn, cutting project volume in 2009 from the...

Donnerstag 26. November 2009
German property investment likely lowest since 1990s - CBRE

German commercial property investment is likely at less than e10bn this year, and in Frankfurt no more than e750m,...

Mittwoch 25. November 2009
UK's Hansteen takes Kenmore fund stake, may make full offer at £57m

UK-listed Hansteen Holdings is to apply to issue 4.1m new shares at 10p each as part of a consideration for an...

Mittwoch 25. November 2009
Atrium European cuts 9mth net loss, doubles EBITDA

Listed CEE retail mall developer and investor Atrium European Real Estate cut its net loss for the first nine months to...

Dienstag 24. November 2009
Distressed property sales rise in 80% of nations - RICS

Distressed commercial property sales have risen in over 80% of countries around the world, says a new survey from the...

Dienstag 24. November 2009
US Cornerstone acquires UK's Protego to manage $30bn, channel capital across Atlantic

Massachusetts Mutual Life Insurance Company is entering European property by acquiring Protego Real Estate Investors,...

Dienstag 24. November 2009
Former Bertelsmann CEO Wössner joins Swiss Corestate

Swiss private equity group Corestate Capital has appointed former Bertelsmann CEO and Deutsche Bank executive Mark...

Montag 23. November 2009
Don't miss PFE/PIE's German Property Breakfast in London this Friday

Registrations close tomorrow for Friday's Property Breakfast, in which our expert panel discusses the question: "Is...

Montag 23. November 2009
German funds unsettled by renewed Degi, Axa closures

In a move renewing concerns about the structure of German open-end property funds, Aberdeen Property Investors'...

Montag 23. November 2009
Troubled French REIT Gecina appoints new CEO

Troubled French REIT Gecina has appointed a new CEO, Christophe Clamageran, to take over operations under Joaquin...

Montag 23. November 2009
Opportunities seen in European distressed debt

The banking crisis has opened up interesting opportunities for investors to buy distressed property debt, says Paul...

Montag 23. November 2009
French retail real estate development revives

The French retail real estate market has seen a marked increase of 25% in development projects below 1,000 sq.m.,...

Montag 23. November 2009
Eurocommercial rights issue finances new malls

Following its decision to start a shopping centre at Växjö in Sweden at a cost of e40m, listed Dutch retail mall...

Montag 23. November 2009
Israeli BIG pushes into Serbian mall development

Israeli backed joint venture Big CEE is starting construction of its first shopping mall in Novi Sad, Serbia, and...

Montag 23. November 2009
WestImmo places 2nd mortgage Pfandbrief

German property financíng bank WestImmo, part of the WestLB group, has successfully placed its second E500m benchmark...

Montag 23. November 2009
Spain's Neinver also outlet leader in Poland, Germany

Spain's Neinver, which now manages 11 outlet retail centres in Europe with a total 223,000 sq.m. of gross leasable...

Montag 23. November 2009
Struggling Orco widens net loss; in operating profit

Struggling listed eastern Europe property developer Orco Property Group has reported that nine-month losses widened to...

Donnerstag 19. November 2009
French commercial RE index slightly higher in October

The EDHEC IEIF Commercial Property France price index ticked slightly higher in October, up just 0.80% on the month,...

Donnerstag 19. November 2009
PSP Swiss Property heads for record year after higher 9mths,

Zurich-based listed real estate group PSP Swiss Property boosted net income excluding portfolio value changes by 9.7%...

Donnerstag 19. November 2009
Troubled French REIT Gecina has appointed a new CEO

Troubled French REIT Gecina has appointed a new CEO, Christophe Clamageran, to take over operations under Joaquin...

Dienstag 17. November 2009
WestImmo places 2nd E500m mortgage Pfandbrief

German property financíng bank WestImmo, part of the WestLB group, has successfully placed its second E500m benchmark...

Dienstag 17. November 2009
EU house prices rise fractional 0.3% last year

European Union-wide house prices rose by a fractional 0.3% last year on aggregate, well down from 7.0% growth in 2007,...

Dienstag 17. November 2009
Aberdeen forced to close two German property funds again

Aberdeen Property Investors' German property fund manager Aberdeen Immobilien KAG has, again suspended redemption and...

Montag 16. November 2009
French Foncière des Régions sees near-4% rise in rental income

French REIT/SIIC Foncière des Régions reported strong rental income for the first nine 2009 months, a rise of 3.8%...

Montag 16. November 2009
Swiss Prime Site to delist Jelmoli after offer hits 98% acceptance

Listed Zurich-based property group Swiss Prime Site, after settlement of its takeover offer has won more than 98% of...

Montag 16. November 2009
Bonn's IVG narrows loss; operations, liquidity stabilising

Bonn-based listed property group IVG, Germany's largest, posted a much narrower consolidated net loss of E2.2m in third...

Montag 16. November 2009
RREEF European Core Recovery Fund targets E250m equity

Deutsche Bank's alternative assets group RREEF is launching a German Special Fund to target office and retail...

Montag 16. November 2009
Germany's alstria FFO lower, but tracks 2009 guidance

Hamburg-based alstria office REIT posted stable funds from operations in third quarter at E8m, bringing FFO to E24.2m...

Montag 16. November 2009
New investment manager Aurea RE created in Madrid

Maxime Barkatz, former CEO of French SIIC Affine's Concerto development unit, in has started an investment management...

Montag 16. November 2009
Frankfurt's DIC Asset boosts profits, raises 2009 guidance

Frankfurt's DIC Asset posted its third significant increase in quarterly profits in a row in 3Q09, raising its full...

Freitag 13. November 2009
France, Germany said little impacted by UK Kenmore administration

French and German managers of units of the Kenmore Property Group said assets in their countries have been little...

Freitag 13. November 2009
Avingstone targets e500m at European luxury hotels

The Avingstone Fund, a new London-based vehicle, is to focus on the luxury end of the pan-European hotel market and has...

Freitag 13. November 2009
Germany's alstria FFO lower, but on 2009 guidance

Hamburg-based alstria office, an internally managed Real Estate Investment Trust focused on German office real estate,...

Freitag 13. November 2009
IVG narrows loss; operations, liquidity stabilising

Bonn-based listed property group IVG, Germany's largest, posted a much narrower consolidated net loss of e2.2m in third...

Donnerstag 12. November 2009
Sparkassen Immo e110m Gemini sale is Prague's largest

Austria's exchange-listed Sparkassen Immobilien has sold Gemini, a commercial and office building in Prague's Fourth...

Donnerstag 12. November 2009
Frankfurt's DIC Asset boosts profits, raises 2009 guidance

Frankfurt-based listed commercial property group DIC Asset posted its third significant increase in quarterly profits...

Donnerstag 12. November 2009
New investment manager Aurea RE created in Madrid

Maxime Barkatz, former CEO of French REIT/SIIC Affine's Concerto development unit, has started an investment management...

Donnerstag 12. November 2009
Spanish REITs law enacted to support property market

Publication in Spain's Official Gazette of a new Act to legalise Real Estate Investment Trusts brings the nation into...

Mittwoch 11. November 2009
German coalition agreement leaves room for residential REITs, but not high priority - sources

The new German government coalition contract, binding over its four-year mandate, contains vague references to Real...

Montag 09. November 2009
German office shows first rise in two years - JLL's VICTOR

Average values in prime office real estate in Germany's Big Five cities rose in the third quarter by 0.3%, improving...

Montag 09. November 2009
Norwegian Property posts positive 3Q09, reversing loss

Oslo-based listed hotels and commercial real estate investor Norwegian Property posted profit before tax of NOK251m...

Montag 09. November 2009
European real estate investment jump shows confidence returning

Signs of recovery are appearing in the European property market, with investment volumes jumping 53% in 3Q09, yields...

Montag 09. November 2009
Prudential's Invesco in E155m Hamburg buy for hotel fund

Invesco Real Estate, the property arm of the US Prudential insurance group, has acquired Radisson Blu Hotel in Hamburg,...

Montag 09. November 2009
German property sentiment surging - King Sturge

German real estate investment market sentiment surged in October, according to realtor King Sturge. Though its Real...

Montag 09. November 2009
Luxembourg office to offer 2010 opportunities - Savills

Luxembourg's office market will offer buying opportunities in 2010 as funds reassess their position, according to...

Montag 09. November 2009
Portugal's Sonae Sierra still suffering depreciations

Portuguese shopping centre Sonae Sierra recorded a consolidated loss of E 94m over the first nine months, reversing a...

Montag 09. November 2009
EBRD to fund Austrian developers' E136m Croatian mall

The European Bank for Reconstruction and Development is considering a E68m long-term debt facility for development of a...

Montag 09. November 2009
Albania in new laws to boost foreign property investment

Albania is introducing new legislation to enable the government to eliminate property problems encountered by foreign...

Montag 09. November 2009
Egyptian Orascom in e1bn-plus Montenegro project

Egyptian-Swiss listed Orascom Development has acquired a 90% stake in Lustica Development from the Montenegro...

Montag 09. November 2009
German office values in 3Q09 show first rise in two years - Jones Lang LaSalle's VICTOR index

Average values in prime office real estate in the Big Five cities in Germany rose in the third quarter of the year by...

Freitag 06. November 2009
Warsaw-listed Globe Trade Centre opens e140m Polish mall; wins EBRD Croatia financing

Warsaw-listed emerging Europe developer Globe Trade Centre has officially opened its e140m regional mall Galeria...

Freitag 06. November 2009
Located at trans-European crossroads, Poland's Katowice region attracts investment

Katowice, located at the crossroads of trans-European routes linking Poland with Czech Republic, Slovakia, Germany and...

Mittwoch 04. November 2009
German residential portfolio deals reach e1.9bn year to date, says Savills

The improvement in the market for residential portfolios, which became apparent in spring, has continued into 3Q09 when...

Mittwoch 04. November 2009
German open property funds monitoring sustainability, but implementation low - Aberdeen

The factor of energy efficiency and sustainability has received much attention in the E90bn German real estate funds...

Mittwoch 04. November 2009
Austria's CA Immo to re-sell bought-back shares off market; issues e150m bond

Austrian listed property investor CA Immo is to re-sell off the stock market up to 1.5m of its own shares, 1.71 % of...

Montag 02. November 2009
"Vienna waits for you". Austrian real estate stocks lead improving sentiment in Europe

"Vienna waits for you" - as Billy Joel sings - has become a high note in European real estate in the listed sector...

Montag 02. November 2009
Chicago's Heitman closes E1.3bn fund aimed mainly at central/eastern Europe property

Chicago-based real estate investment manager Heitman finally closed Heitman European Property Partners IV, its fourth...

Montag 02. November 2009
Germany's Fair Value REIT eyes repeat of fund certificate swap, direct acquisitions

Munich-based Fair Value, one of only two German REITs, intends to boost its asset base by adding direct holdings or...

Montag 02. November 2009
Düsseldorf's WGF aims innovative bond funding at institutions with new E100m issue

The Düsseldorf-based private property group WGF is extending its innovative funding model after the October launch of...