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PIE - Property Investor Europe

Saturday, 28 March 2015

Deutsche Wohnen raises FFO 90%, quadruples profit after GSW integration

German listed Deutsche Wohnen, currently bidding for Austria's conwert, raised 2014 funds from operations by 90% to ¤218m due to the integration of Berlin peer GSW, quadrupling net profit to ¤889m. It expects like-for-like FFO at ¤250m this year.

Deutsche Office increases dividend; von Cramm resigns as CFO

Germany’s listed Deutsche Office, created out of a merger of Munich’s Prime Office REIT and a unit of US private equity firm Oaktree, will increase its dividend per share to ¤0.15, and announced that CFO Alexander von Cramm is leaving.

US Colony, French Eurazeo cash in ¤1.1bn from Accor share surge

US private equity group Colony Capital and listed French investor Eurazeo have sold almost half their combined stake in hotel group Accor - some 9.65% for around ¤1.1bn - taking advantage of a sharp rise in the share price from the new strategy implemented by CEO Sébastien Bazin

Britain's JC Rathbone, Laxfield set up Europe property debt advisory

British financial advisory firms JC Rathbone and Laxfield Capital have formed a new venture to help property buyers from Asia, Middle East and North America source debt capital for deals across Europe.

SRV brings largest Finnish single deal with ¤480m Helsinki mall

In the largest single asset transaction ever in Finland, a domestic institutional joint venture led by listed developer SRV is launching construction of the ¤480m REDI shopping centre in Helsinki, kicking off a ¤1bn urban development project.

Hypo Alpe Adria provisions push German BayernLB to ¤1.3bn loss

Munich-based landesbank BayernLB doubled real estate lending profits to ¤180m last year with new business stable at ¤3bn. But exposure to Austrian Heta, the ‘bad bank’ of scandal-ridden Hypo Alpe Adria, pushed it to a massive ¤1.3bn net loss.

US Thor Equities sees European property value surge from euro slide

US investment group Thor Equities sees good opportunities in European real estate due to the euro depreciation, and attractive valuations in Greece similar to those in Ireland and Spain recently, says CEO Joseph Sitt.

Spain’s Ortega amasses prime property empire worth ¤4.6bn - Expansion

Spain’s Amancio Ortega, the world’s wealthiest fashion magnate and founder of textile conglomerate Inditex, has amassed nearly ¤4.6bn in a property empire based on plum retail and commercial assets, principally in Madrid and Barcelona.

German industrial property boosts total returns to record 6% - IPD

Annual returns on German property last year, summing rental income and capital gains, rose to 6%, said IPD/MSCI, the highest since IPD records began in 1996. They were propelled by 12% earned in industrial property, and solid residential and retail returns.

CEE 2014 total property returns averaged 4.8% - IPD/MSCI

Central and eastern European direct property investments returned an average 4.8% last year, according to the IPD CEE Annual Property Index. Income returns of 6.2% far outweighed capital values losses of 1.4%. Retail property was strongest.

For more Property Investor Europe news, click thru to our News archive.

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