Property Investor Europe's mission is to bring valuable transparency to European real estate for US & global investment professionals. Via widely-read PIE Dailies (12,000+ readers each working day in 147 countries), downloadable Online Weeklies, PIE's flagship thought-leadership monthly magazine, and an active and highly popular Property Breakfast and 2-day event program, subscribers and sponsors alike gain full connection into the rapidly growing investor community through the PIE platform. Subscribe now and enquire about media planning 2014 for your company at firstname.lastname@example.org.
Friday, 13 December 2013
Augsburg-based listed property company Patrizia is said to be in talks to buy German offices worth some ¤1bn from FMS, the ‘bad bank’ which is winding down assets of failed lender Hypo Real Estate. The deal would be Germany’s biggest commercial real estate transaction this year.
Two French private investors have agreed to buy German real estate asset manager KGAL from its German bank owners - Bayerische Landesbank, Commerzbank, HASPA Finanzholding and Sal Oppenheim. Francis Louvard and Gregory Ingram intend to maintain KGAL's focus on real estate, infrastructure and aircraft.
UK-based real estate investment manager Valad Europe is planning to invest ¤200m-¤300m in French office and retail over the next two years as it diversifies its French portfolio to reduce its reliance on business parks. The investments will lead to a 25%-50% increase in Valad France's assets.
Sales of non-performing loans by German lenders will pick up in the near future as banks finally purge their balance sheets of bad assets, despite the limited number of disposals in recent years, says accountancy firm Ernst & Young.
There has been no financing gap in German real estate this year and there is also likely to be no shortage of property finance in 2014, says the project development arm of German builder Hochtief.
The property arm of Canadian pension fund OMERS is close to a deal to buy the Royal Exchange shopping centre in the heart of London’s financial district from Ireland’s IBRC Assurance Company for about Stg83m.
Property advisory firm Savills has been hired by ABP, the Chinese developer of London’s Royal Albert Dock, to drum up new occupiers for the Stg1bn business port development near the Docklands in the east of the capital.
Allianz Real Estate, the property arm of giant German insurer Allianz, has bought a 50% stake in the Kamppi shopping centre in Helsinki CBD, one of the largest malls in Finland, from the Nordic Retail Fund managed by UK investment manager Cornerstone Real Estate Advisers. No price details were disclosed.
Office-residential conversions can play a useful role in rebalancing supply in the two sectors but they will not solve France's housing shortage, say local analysts. The number of offices that can be transformed into apartments are seen as only a drop in the ocean of the French housing market.
Cross-border property investment in Europe accounted for 45% of the ¤80.6bn nine months total, with a notable rise to ¤23bn in the share of non-European investors, says realtor Savills. Almost half came from Middle or Far East.
For more Property Investor Europe news, click thru to our News archive.
PIE news-intelligence, and analysis, is the leading critical information source that unites global investors with European asset owners and stakeholders.
Since 2005, PIE is published in English but is 'made in Germany and Europe' - edited in Frankfurt with senior editors in all major centres across Europe.
All PIE products are available on every key digital platform.
PIE readers are: Investing institutions, capital allocators and managers, banks, global REITs and other listed vehicles, SWF's, non-listed and listed funds, corporate treasurers, developers, asset managers, pension funds, municipalities, academics and private investors.
PIE is recommended by ULI, RICS, and cooperates closely with IPD and leading asset class organisations such as ICSC, EPRA, INREV.