Thursday, 27 November 2014
European CMBS property debt securitisation is making a comeback, and 12 more deals are in the pipeline to add to the seven, worth ¤2.57bn, so far this year, likely outpacing the 10 in 2013, says an analysis in the Wall Street Journal. Given surging enthusiasm for property from all quarters now, this seems like an idea whose time has come (again), writes PIE Managing Editor Allan Saunderson.
Paris and London-based manager AEW Europe, part of the Natixis group, has completed the ¤300m acquisition of Paris real estate from French REIT SIIC de Paris after the latter's takeover by peer Eurosic. The purchase is for an unnamed single institutional account.
Germany-focused opportunity real estate group Activum SG Capital has sold three offices in Munich and Frankfurt, one to GLL RE of Munich and two to Vienna-based investor FLE. Financial details were not disclosed.
Sales of new homes in France fell 11.5% in third quarter to 18,800 vs 3Q13, dropping below 20,000 for the first time since late 2008 and highlighting the weakness of a market still struggling amid overall poor economic growth.
German insurer Allianz is planning to raise its investments into renewable energies by one-third over the next three years to over ¤3bn as yields are attractive in the sector.
French REIT/SIIC Foncière des Régions has two new projects in the pipeline in the Paris business district of Vélizy-Meudon, where it is is preparing to develop a 30,000-50,000 sq.m. campus under the name Canopée and a 30,000 sq.m. building dubbed Opale.
London and Paris top the league of most attractive European cities for international retailers but Moscow is getting closer and Istanbul is sprinting to join the elite, says realtor JLL.
Six of the seven largest conurbations in Germany lead the table of cities with best investment potential for student housing, with Munich taking the top spot, says realtor CBRE.
Polish developer Euro Styl is redeveloping a 1970s office building in the former shipyard of the Baltic Sea port of Gdansk, the historic site of the Solidarity trade union uprising which in the 1980s sparked a process that toppled Communism.
US Fortress Investment and Italian listed Prelios are close to an agreement to purchase the NPL unit of Italy’s biggest bank UniCredit for ¤550m, wire services are reporting. The bank is said holding bad loans worth ¤53bn face value.
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