Sunday, 26 October 2014
In the largest foreign investment in European healthcare property yet, US REIT Medical Properties Trust has bought 40 hospitals in Germany for ¤705m from Berlin-based Median in a sale-leaseback, and three for ¤64m from Netherlands-based Waterland Private Equity.
Luxembourg-listed real estate firm Saint Croix Holding Immobilier, active in Spanish property, has moved its fiscal and administrative domicile to Spain to take on REIT/SOCIMI status while retaining its original Luxembourg listing.
A Middle East fund is teaming up with Russia’s sovereign fund and a real estate firm Development Group 19 to build logistics around Moscow, marking a rare inward investment as international capital remains wary.
French REIT/SIIC Gecina has raised its 2014 earnings forecast due to an improvement in its financial structure. Separately, the group also announced legal action over guarantees made by former CEO Joaquin Rivero in Spain.
Major Belgian listed real estate firms – Cofimmo, Befimmo and Montea - have adopted a new REIT legal status to continue operations without coming under the EU's alternative investment funds management directive.
Swedish property transactions rose 32% in the first nine months to SEK90bn (¤9.8bn) with secondary assets and locations especially attracting interest, says realtor Savills.
Rents in German food retail properties have risen constantly since 2011 and now stabilised at ¤11.21 per sq.m., only slightly below the 2010 peak, says valuer DIWG | STIWA. It expects moderate mid-term growth, especially in hypermarkets.
Austrian listed CA Immo is seeking to add LEED sustainability certification to its entire office portfolio in Budapest as an increasing number of tenants see 'green' as an important decision factor.
London ultra-luxury apartment developers Candy & Candy, Deutsche Bank's wealth management arm and realtor Savills, have launched a global report on islands and other real estate suitable for ultra high-net-worth investors, saying growth in this wealth, the rarity factor, and new transport infrastructure are driving demand.
LaSalle Investment Management and Swiss-based Quantum Global Real Estate have announced the acquisition of Tour Blanche in the La Défense business district on the western rim of Paris for ¤161m. Vendor was New York-based Perella Weinberg Real Estate.
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