Tuesday, 03 March 2015
Sweden’s Klövern topped property stocks in Europe once more last week as shares from Sweden to southern Europe rose, according to EPRA data.
Mexican billionaire Carlos Slim, now a substantial shareholder in Spanish construction group FCC, is taking a board seat at its affiliate Realia, intending to halt the sale of FCC's 37% stake which it previously was prepared to sell.
Barcelona-based property company Colonial said it has re-emerged as Spain’s leading property group after seven years of painful restructuring with a net result of ¤492m in 2014, stemming largely from the deconsolidation of its land and development unit Asentia.
The value of Europe's hotels rose in 2014 for the fifth year and the biggest increase, 14%, was posted in Spanish capital Madrid, consultancy HVS said - as one of year's biggest hotel events, International Hotel Investment Forum, starts in Berlin.
Foreign buying drove European hotel investment to ¤15.2bn in 2014 with France, Germany, Italy, Spain and UK attracting 68% more inflows, topping the record 2007, realtor BNP Paribas Real Estate said. Volume should rise further in 2015.
Hotels will continue to outperform other property investments this year but 2015 is likely to represent the peak, international law firm Berwin Leighton Paisner says.
Zurich-based listed Allreal reported a 14.3% fall in % net profit last year to CHF104m (¤97m) following negative portfolio value adjustments and lower profits from asset sales. The firm expects a stable development for this year.
Hanover-based property financier Deutsche Hypothekenbank has provided a ¤70m loan to a joint venture of listed developer Quantum and alstria office REIT for the Kaisergalerie office and retail asset in their home city of Hamburg.
Foreign investors accounted for 44% of real estate deals in Germany's Hamburg in 2014, up sharply from 28%, realtor Grossmann & Berger reports. Overall volume was up nearly one-third at ¤3.65bn and giant Franco-Dutch REIT Unibail-Rodamco was one of the key players.
Private Russian pension fund Blagosostoyanie, managed by the Trinfico group, has bought two office towers at St. Petersburg Airport from Austrian listed developers Warimpex, CA Immo and UBM. The purchase price was not disclosed but the assets cost ¤70m to develop.
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