Monday 29. September 2008
Immofinanz first quarter EBITDA nearly doubles, but property devaluations hit
Austria's listed real estate giant Immofinanz nearly doubled operating profit to e99.6m in first quarter of the 2008/09...
Monday 29. September 2008
Five more managers said to follow Rasetta exit of Italian developer Risanamento
At least five more top managers are considering leaving Italy's Risanamento, after the departure of CFO Giulio Rasetta...
Monday 29. September 2008
CBRE taps Spain's Banesto to help financing on new real estate auction
International real estate broker CB Richard Ellis, together with Spanish banking partner Banesto, are auctioning homes...
Monday 29. September 2008
KanAm German fund buys Frankfurt's Opera Tower from Tishman, UBS
German open-end property fund KanAm has bought the Opera Tower in Frankfurt from US developer Tishman Speyer and Swiss...
Monday 29. September 2008
French REIT Gecina resumes share buyback to finally split from Metrovacesa
The board of French REIT/SIIC Gecina has approved resumption of a share buyback offer designed to complete a complex...
Monday 29. September 2008
Germany's Hypo Real Estate secures major funding facility, shares plunge
Germany real estate financier Hypo Real Estate has secured a new credit facility to shield the group from the current...
Monday 29. September 2008
Italian RMBS delinquency rates rise; Moody's keeps stable/negative outlook
Delinquency rates in outstanding Italian residential mortgage-backed securities transactions rose to 1.42% in the...
Monday 29. September 2008
Italy's Aedes chooses Sopaf offer for e171m capital increase, banks extend moratoria
Italian asset manager Sopaf is poised to infuse struggling listed fund manager Aedes with up to e171m, the companies...
Monday 29. September 2008
Netherlands boosts REIT/FBI leverage for property subsidiaries to 60% as for direct - PwC
A change in Dutch REITs legislation is to boost to 60% from a prior 20% the allowed leverage on borrowings to finance...
Monday 29. September 2008
Capital & Regional sells half of German retail portfolio in JV to Apollo Real Estate Advisors
British-based LSE-listed real estate investment manager Capital & Regional has entered a joint venture agreement with...
Monday 22. September 2008
Bid for Germany's Polis is not intended at full control - chairman
The takeover bid for German listed commercial property group Polis by the Karlsruhe-based Mann group is not genuinely...
Monday 22. September 2008
Italian REIT/SIIQ attracts e1.3bn assets despite troubled parent Aedes
The maiden REIT/SIIQ project of struggling Italian fund manager Aedes has successfully collected e1.3bn worth of...
Monday 22. September 2008
Italian real estate market to grow 0.9% in 2008, outpacing Eurozone peers
Italy's real estate market is weathering global market turmoil in 2008 better than its largest western European peers,...
Monday 22. September 2008
Debt purchase is most profitable real estate exposure, says Starwood's Gale
The private equity firm Starwood Capital, one of many financial institutions that have set up funds to buy real estate...
Monday 22. September 2008
EPRA's REIT paper focuses on pragmatic approach, mutual recognition
The EPRA paper on fostering European REITs, released at its annual meeting in Stockholm two weeks ago, focuses on a...
Monday 22. September 2008
Barcelona luxury housing values fall 11%, to under e5,000 sq.m.
Reflecting the overall decline in the Spanish residential market, luxury housing values in Barcelona have dropped 11%...
Monday 22. September 2008
US' Host, Singapore's GIC, Dutch ABP buy six European hotels for e565m
US-based Host Hotels & Resorts, its European joint venture partner Dutch pension fund ABP and an affiliate of...
Monday 22. September 2008
Leichnitz resigns as CEO of Germany's listed RE group IVG
Wolfhard Leichnitz, the CEO of Germany's largest real estate company IVG, is to resign effective the end of this month,...
Monday 22. September 2008
Spain's Colonial may pare debt by e3bn after deal, talks under way on disposals
Listed Spanish property group Colonial says it may be able to reduce its debt burden by as much as e3bn after forging a...
Monday 22. September 2008
France mulls REIT law changes to allow 2-yr drop-out if 60% rule not met
France is weighing changes in its REIT/SIIC laws to extend the exit tax for two years past the original end-2008 close...
Monday 15. September 2008
DEGI invests e167m in Warsaw business park, e57m in Prague complex
Aberdeen Property Investor's DEGI bought Marynarska Business Park in Warsaw for e167m from Belgian international...
Monday 15. September 2008
Dubai's Marfin plans e135m investment in Croatia's Sunce hotel group
Greek buyout fund Marfin Investment is to make a e90m investment in Croatian hotel group Sunce Koncern, taking a 50%...
Monday 15. September 2008
Bulgaria announces tender to build e2bn complex in Sofia
Bulgaria has announced an international tender to build a new e2bn business complex in downtown Sofia, in part to...
Monday 15. September 2008
Spain's Hercesa plans e500m housing in Bulgarian capital Sofia
The Bulgarian head of Spanish property developer Hercesa has announced plans for a e500m gated residential property in...
Monday 15. September 2008
Merkel's party eyes e2bn spending program for housing energy efficiency
The CDU/CSU parliamentary faction of German Chancellor Angela Merkel is drafting a plan to spend as much as e2bn on...
Monday 15. September 2008
Austrian Level One property holding files e1.5bn German insolvency
The German subsidiaries of Level One, a distressed property holding company founded in Austria by Cevdet Caner, have...
Monday 15. September 2008
Spain's Colonial, Metrovacesa cancel massive mall project
Listed Spanish property giants Colonial and Metrovacesa have scrapped plans to develop the largest mall in Spain due to...
Monday 15. September 2008
Europe's listed property body launches REIT initiative, rejecting EU ruling
The European association of listed real estate companies, EPRA, has launched its own initiative to promote REITs on the...
Monday 15. September 2008
Spanish property sector said in talks with Madrid on REITs legislation
Spanish real estate companies are in behind-the-scene talks with the government with the aim of establishing real...
Monday 15. September 2008
French SFL hopes to sell 33% this month to meet SIIC 4 ceiling - chairman
French REIT/SIIC Société Foncière Lyonnaise, ensnared in the balance sheet of Spain's struggling listed real estate...
Friday 05. September 2008
Austrian Immofinanz posts 42% EBIT downturn in 2007/2008
Vienna-listed Immofinanz saw operating performance up strongly in its 2007/2008 business year but profit before...
Friday 05. September 2008
German IVG to sell caverns into Special Funds unit for e1.7bn, participate
Bonn-based IVG, Germany's largest listed real estate company, is to sell 70 of its storage caverns for e1.7bn as a...
Friday 05. September 2008
Netherlands's Corio sees 1H08 EBIT climb to e166m, buys Turkey project
Dutch-based Corio, one of the largest listed property investment companies with a focus on retail in Europe, saw its...
Friday 05. September 2008
US casino operator Harrah's freezes mega-project in central Spain
US casino operator Harrah's Entertainment has decided to freeze its plans to build one of the largest casino resorts in...
Friday 05. September 2008
Turkey e1bn tunnel project may set off Istanbul real estate boom
Turkey's announcement of the top two bids for the e1bn road tunnel under the Bosporus to connect both sides of Istanbul...
Friday 05. September 2008
Austria's cash-infused Atrium, former Meinl, swings to loss in first half
Atrium European Real Estate, the result of Israeli property group Gazit and Citi Property Investors takeover of Meinl...
Friday 05. September 2008
Italy's Risanamento expects binding contracts to sell up to e4.2bn in assets
Listed Milan-based developer Risanamento expects to reach binding contracts for the sale of major assets by year's end....
Friday 05. September 2008
Colony eyes e1bn assets as Italy's Aedes chases three options for debt crisis exit
Tom Barrack's LA-based private equity group Colony Capital is negotiating to acquire up to e1bn in assets from Italy's...
Friday 05. September 2008
Africa Israel plans 100 projects worldwide, including e13.4bn in Russia
Africa Israel Investments, an international holding and investment company, plans to develop 100 large projects...
Friday 05. September 2008
Spain's struggling Colonial swings to 1H loss but says nearing debt deal
Troubled Spanish property group Colonial, battling bankruptcy and effectively owned by the banks, reported a first half...
Tuesday 02. September 2008
European mortgage lending slows in first quarter, but not dramatically - EMF
Mortgage lending across Europe continued to slow in the first quarter of this year, but did not dramatically worsen...
Tuesday 02. September 2008
Large German housing sales defy new sub-prime-insolvencies
Sale of the state housing firm LEG NRW with its 93,000 apartments was possibly the last sale of a large German housing...
Tuesday 02. September 2008
German real estate economy continues downswing - King Sturge
The mood in the German real estate industry going into the second half of 2008 has dropped to a low according to Real...
Tuesday 02. September 2008
Time is ripe for property investment in Tunisia - Cairo fund manager
The North African nation of Tunisia is ripe to attract international real estate investment, according to the...
Tuesday 02. September 2008
Sweden's Catella broadens operations, recruits new personnel
The Stockholm-based real estate advisor and realtor Catella is to boost its capital market operations and expand these...
Tuesday 02. September 2008
Austria's conwert first half EBITDA rises 29% despite difficult markets
Austria's top-end traded residential investor and refurbisher conwert posted a rise of 29% in EBITDA to e48m and sees...
Tuesday 02. September 2008
Italy's first REIT IGD sees 1H08 profit rise 42% with help from tax benefits
Italy's first REIT/SIIQ, the hypermarket and shopping centre investor IGD, saw net profits rise to e34m in the first...
Tuesday 02. September 2008
Demand for Spanish homes rose 33% in July - portal
Despite the slowing economy and global credit crunch, one of Spain's largest property search engines said around 1.6m...
Tuesday 02. September 2008
Austria's Warimpex posts 63% rise in first half EBITDA on project sales
Austria's emerging eastern European hotel investor and developer Warimpex's reported that EBITDA, despite difficult...