- ASIA CAPITAL CLUB - London
04 September 2014
- POLAND PROPERTY BREAKFAST - Frankfurt
09 September 2014
- SPAIN & REITs BREAKFAST - London
11 September 2014
City of London
- ITALY PROPERTY BREAKFAST - London
17 September 2014
City of London
- FRANCE PROPERTY BREAKFAST - London
30 October 2014
City of London
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Thursday, 21 August 2014
Taiwanese insurer Cathay Life has bought Woolgate Exchange in central London from US private equity house TPG and Canada’s Ivanhoé Cambridge for about Stg320m, marking its first property purchase in Europe.
International shopping centre group Sonae Sierra, based in Lisbon and owned jointly by Portuguese listed Sonae and private London-based Grosvenor, reported net profit of ¤47.8m in the first half, reversing a loss in 1H13 of ¤4.6m.
Swedish listed Kungsleden will seek EGM approval for a rights issue of SEK1.5bn (¤164m) with preferential rights for shareholders, targeting proceeds for financial flexibility and resuming acquisitions. It aims to reach SEK30bn (¤3.3bn) in assets.
German landesbank Helaba has provided a ¤136m long-term facility to US private equity firm Starwood Capital for the acquisition of three new offices in Poland, which it bought from Belgian developer Ghelamco.
Despite a marked increase in competition, German mortgage lender Berlin Hyp doubled first half new lending to ¤1.8bn from 1H13, but its result before tax and profit transfer fell to ¤32m from ¤51m, impacted by restructuring, which will also impact the full-year result.
German house prices rose in July by 0.88% in the month and were 2.56% in aggregate above a year earlier, according to the Europace index produced by Berlin listed group Hypoport. Apartments were strongest, followed by single and multi-family homes.
Office rents in central and eastern Europe should rise by 2.5%-3% in the medium term as economies strengthen and property demand rises despite the recent sharp slide in new lettings in key markets Warsaw and Prague, says Capital Economics.
Mainstream international hotel brands are entering the Czech market to cater for an inflow of visitors, particularly from Asia, as the hotel industry recovers and new investment takes off, according to realtor Cushman & Wakefield.
In the next two years at least 16 new shopping centres should open in Spain, adding over 500,000 sq.m. of leasable space to the 15.29m at end-2013, says a local portal. Three malls have opened this year and others are adding extensions.
Austrian listed property group Immofinanz reported a near 63% rise in net profit for its 2013/14 financial year to end-April to ¤180.4m, helped by around ¤33m in sale earnings, and income from the flotation of its BUWOG residential subsidiary.
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