Sunday, 29 January 2012

French Natixis to set up German mortgage bank, access Pfandbrief

The French Natixis group is to set up a mortgage bank in Germany, based in Frankfurt, and has applied to the BaFin supervisory authority for a licence for Natixis Pfandbriefbank to be able to issue German Pfandbrief covered bonds as its principal means of funding.

French REIT Terreïs reaches €1bn portfolio target

French REIT/SIIC Terreis has achieved its target of a €1bn real estate portfolio a year ahead of target, with acquisitions of €345m boosting the portfolio value to around €1bn at the end of 2011.

US investor interest rising for stressed Spanish RE assets – Carlton

US investors’ appetite for Spanish property has returned and deals, particularly in stressed assets and portfolios, should be struck before they turn attention to other markets such as central and eastern Europe and Asia, says a senior executive of asset trading platform Carlton.

German Deka AUM reaches €23bn as other funds struggle to re-open

German savings banks’ fund manager Deka finished 2011 with property under management worth some €23bn after transaction volume of €1.3bn, according to board member for real estate Matthias Danne. He is sceptical that open-end property funds now closed will be able to re-start.

Tristan, AEW team with Helios on €250m German logistics

EPISO, an opportunistic real estate fund co-advised by Tristan Capital Partners and AEW Europe, have teamed up with European logistics developer Helios Europe to develop three logistic parks in Germany with a projected end value around €250m.

Russia’s Etalon in 30% housing sales growth, new projects

Russian residential developer Etalon reported new contract sales up 30% at RUB18.3bn in 2011 buoyed by continued recovery in consumer activity, and said it is in the final stages of acquiring a number of new projects in Moscow and St Petersburg.

France’s Sofidy looking to invest €400m in 2012

French asset management company Sofidy is aiming to invest €400m for its SCPI and OPCI funds in 2012, mainly in urban retail assets and offices in Paris and other major French cities.

Russian PIK sees strong revenue growth in 2012

Listed Russian residential developer PIK Group is forecasting 2012 new sales contracts ranging from 600,000–650,000 sq.m., with total gross cash collections of RUB62-67bn. In a trading update, PIK reported total gross cash collections rose by over 30% to RUB52.1bn in 2011.

Property fund investors heading for Nordics, Germany - INREV

The Nordic region and Germany this year top the list of preferred locations for non-listed real estate investors keen to reduce risk in the face of turbulent economic conditions, according to INREV’s Investment Intentions Survey 2012.

Blackstone targets $10bn for global distressed fund

US-based private equity group Blackstone has raised over $6bn of equity capital for a new real estate fund to acquire mainly distressed-property assets, and is aiming for final closing at committed capital of $10bn. The funds will be targeted globally.

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