PIE Events
- German Property Breakfast
14 February 2012
Stockholm
- Distressed Property Breakfast
22 February 2012
London
- Central and Eastern Europe Real Estate Conference
03-04 May 2012
Vienna, Austria
PEPR eyes convertibles to offset APG concerns
European listed logistics and warehouses developer and owner ProLogis European Properties, struggling to restructure funding since the global crisis hit, confirmed that it will make a full-year loss on IFRS basis of e1.50 to e1.70 per unit, though EPRA earnings are expected to be in a profit e0.55 and e0.60. PEPR proposed to shareholders in autumn that it convert to a Luxembourg SICAF to raise equity at a discount to net asset value. However the plan was vetoed by senior shareholder APG, Dutch asset manager for the giant ABP pension fund.