Monday 31. May 2010
France adopts controversial Grand Paris capital gains tax
Both houses of the French parliament have now approved a controversial capital gains tax designed to help fund the...
Monday 31. May 2010
Spain's Santander bank postpones Banif asset sale
Spain's largest banking group Banco Santander has postponed the sale of assets from the E2.6bn Banif Property...
Monday 31. May 2010
French REIT FdR aims at E159m in share dividend
The annual meeting of French REIT Foncière des Régions has approved the option of paying out the 2009 dividend in a new...
Monday 31. May 2010
INREV names EBS professor Thomas new CEO
The European property funds association INREV has appointed as new CEO Matthias Thomas, a former head of IPD Germany...
Monday 31. May 2010
Sweden's Scribona acquires Catella for E43m
Swedish firm Scribona is to acquire the finance and real estate group Catella for SEK417m (E43m). Renaming to Catella,...
Monday 31. May 2010
French govt to sell 6% of buildings to cut deficit
The French government is aiming to sell 6% of its total building stock over the next three years as it seeks to cut its...
Monday 31. May 2010
Sony Center price said to be close to E600m
South Korea's National Pension Service, the fifth largest pension fund in the world, has confirmed it closed its first...
Monday 31. May 2010
Real estate to fall short of sustainable goals by 2020
One in five surveyors globally believe that 90% of commercial real estate stock will fall short of meeting good...
Monday 31. May 2010
Deka, RREEF said bidding for e160m Barcelona prime asset
Foreign and national investor interest in the Spanish commercial real estate market is still strong. Spanish media...
Monday 31. May 2010
Gecina governance changes said attracting takeover interest
Because of recent corporate governance changes at French REIT/SIIC Gecina, including the waning influence of former...
Friday 28. May 2010
Holding firm of Frankfurt's DIC gains new shareholder
Germany's Deutsche Immobilien Chancen, the majority owner of the listed office investor DIC Asset, has acquired a new...
Friday 28. May 2010
Real estate to fall short of sustainable goals by 2020, says RICS survey
One in five surveyors globally believe that 90% of commercial real estate stock will fall short of meeting good...
Friday 28. May 2010
French REIT FdR proposes share dividend to raise up to E159m in fresh equity
The board of French REIT Foncière des Régions is to propose to the annual meeting today the option of paying the 2009...
Thursday 27. May 2010
INREV appoints EBS professor Thomas as new CEO
The European property funds association INREV has appointed Matthias Thomas as new CEO, effective in August. Thomas, a...
Thursday 27. May 2010
Gecina governance changes said attracting takeover interest
Because of recent corporate governance changes at French REIT/SIIC Gecina, including the waning influence of former...
Thursday 27. May 2010
Santander postpones Banif asset sale due to lack of demand
Spain's Banco Santander has postponed the sale of assets from the e2.6bn Banif Property Investment Fund, a mutual real...
Thursday 27. May 2010
Sweden's Scribona acquires Catella for E43m
Listed Swedish firm Scribona is to acquire the finance and real estate group Catella for SEK417m (E43m), including...
Monday 24. May 2010
Austrian Immofinanz recovers most of E516m bond
The newly-merged Austrian Immofinanz has reached agreement on a complex financial restructuring including...
Monday 24. May 2010
Berlin's E570m Sony Center sale to Korea said closed
The sale of Berlin's emblematic Sony Center to the National Pension Service of Korea has been closed, according to...
Monday 24. May 2010
Rivero says not under investigation; vague on Gecina stake
French REIT/SIIC Gecina's former chairman and CEO Joaquin Rivero has denied he is under judicial investigation, and...
Monday 24. May 2010
SAVE THE DATE! 2 JULY - PIE NORDIC PROPERTY BREAKFAST
Registrations will begin soon for the next in PIE's expert seminar series, the Nordic Property Breakfast on Friday 2...
Monday 24. May 2010
Spain agrees to defer E300m Reyal Urbis tax liabilities
Spanish tax authorities have agreed to defer a payment of E300m due from struggling Spanish listed property company...
Monday 24. May 2010
Perella, CA Immo bidding for Austria's Europolis
The US investment boutique Perella Weinberg and Austrian listed property group CA Immo are among firms bidding for the...
Monday 24. May 2010
Credit Suisse fund becomes 3rd Berlin proposals' casualty
The German open-end real estate manager of Credit Suisse has closed its E6.3bn CS Euroreal fund to redemptions after a...
Monday 24. May 2010
Apple, Andik said competing for Barcelona asset
US technology group Apple and Isac Andik, chairman of clothing retailer Mango have both made offers for the Banco...
Monday 24. May 2010
Barclays Spanish branch sale said last for this year
The latest sale offer of 34 bank branches in Spain by UK bank Barclays is likely to be its last this year, say industry...
Monday 24. May 2010
French parliament backs property tax outside Paris
The French National Assembly parliament has approved a draft law to introduce a new capital gains tax on property...
Monday 24. May 2010
France's Klépierre boosts equity by E190m in stock dividend
Shareholders in French shopping centre REIT/SIIC Klépierre have accepted, by a majority of 84.6% of voting rights, the...
Monday 24. May 2010
Smith to succeed Backlund as Aberdeen property head
Rickard Backlund is to step down as head of Aberdeen Property Investors and will be succeeded by Andrew Smith, head of...
Sunday 23. May 2010
Berlin's E570m Sony Center sale to Korea said closed
The sale of Berlin's emblematic Sony Center to the National Pension Service of Korea has been closed, according to...
Saturday 22. May 2010
Immofinanz says completes restructuring with bond buyback
The newly-merged listed Austrian Immofinanz has reached agreement on a complex financial restructuring including...
Saturday 22. May 2010
Spain agrees to defer E300m Reyal Urbis tax liabilities
Spanish tax authorities have agreed the deferment of a payment of E300m in liabilities due from struggling Spanish...
Saturday 22. May 2010
Van der Jagt-Buitink launches CharterHaus in Germany
Former HSBC property executive Brigitte van der Jagt-Buitink has launched CharterHaus Real Estate, a shopping centre...
Saturday 22. May 2010
Rivero said buying back Bami stake from Gecina
Joaquin Rivero, a major shareholder in French REIT/SIIC Gecina and its former chairman, is to buy back the 49% of...
Saturday 22. May 2010
Perella, CA Immo said bidding for Austria's Europolis
The US investment boutique Perella Weinberg and Austrian listed property group CA Immo are bidding for the Europolis...
Saturday 22. May 2010
Apple, Andik said competing for E50m Barcelona asset of Banco Sabadell
US technology group Apple and Isac Andik, chairman of clothing retailer Mango have both made offers for the Banco...
Thursday 20. May 2010
JLL's German office value indicator VICTOR up 1% in 1Q10
The VICTOR indicator of prime office valuations in the Big Five German cities issued by realtor Jones Lang LaSalle rose...
Thursday 20. May 2010
Credit Suisse fund becomes 3rd Berlin proposals' casualty
The German open-end real estate funds management unit of Credit Suisse has closed its CS Euroreal fund to redemptions...
Thursday 20. May 2010
German housing prices slip 1.5% over year
Prices for owner-occupied housing in Germany fell 1.5% in the 12 months to first quarter 2010, and slipped by 0.9%...
Thursday 20. May 2010
Frankfurt's SEB AM pays E108m for Madrid office
SEB Asset Management, the Frankfurt-based investment manager of the Swedish banking group, has paid a total E108m for...
Thursday 20. May 2010
Protego-Cornerstone target E50m at German retail
The recent takeover of UK investment manager Protego by US-based Cornerstone has strengthened its ability to expand the...
Thursday 20. May 2010
European markets promising, but storm clouds threaten
The spread between yields for European property and government bonds is well above its long-term average, which...
Thursday 20. May 2010
Atrium European reverses loss in 1Q, positive trend continues
Atrium European Real Estate, a listed shopping centre developer and manager in central and eastern Europe, posted a...
Wednesday 19. May 2010
Separating butterflies from moths to interpret media signals
FORWARD THINKING: By Allan Saunderson, Managing Editor, PIE
The problem with the media; the reason you cannot take...
Wednesday 19. May 2010
French Gecina's former chairman Rivero under investigation
Troubled French REIT/SIIC Gecina is on a path toward sorting out disputed corporate governance after shareholders voted...
Wednesday 19. May 2010
German RE funds propose 12mth minimum holding
The response from German open-end funds to highly disputed government proposals has not been long in coming. However...
Wednesday 19. May 2010
NL's Corio reverses loss in exciting first quarter
Dutch shopping centre REIT/FBI Corio boosted its direct result 13% in the first quarter, dubbed
exciting by CEO Gerard...
Wednesday 19. May 2010
PSP Swiss Property raises guidance after 1Q10
PSP Swiss Property, based in Zug just south of Zurich, raised EBITDA operating earnings outlook for 2010 to around...
Wednesday 19. May 2010
Germany's IVG turns in first quarterly profit since 2Q08
Further writedowns on Bonn-based IVG's standard real estate portfolio in first quarter were supported by upward...
Wednesday 19. May 2010
Hamburg's alstria nears REIT-equity minimum
German REIT alstria office posted first quarter revenues and funds from operations down 10% and recorded net profit of...
Wednesday 19. May 2010
Tax on rents proposed to finance Grand Paris
The French listed property association has floated the idea of a new tax to finance the Grand Paris plan. Expanding on...
Wednesday 19. May 2010
Pan-European total returns positive again - IPD
Commercial property across Europe produces a much-improved euro-denominated total return of 3.7% in 2009 according to...
Wednesday 19. May 2010
CEE fund Atlas Estates to delist from AIM
CEE property investor and developer Atlas Estates, listed on London's Alternative Investment Market and in Warsaw, is...
Wednesday 19. May 2010
Profectus wins first approval for E5bn Croatian Dream
The E5bn Croatian Dream project, a luxury tourist resort, has achieved its first approval for construction in the...
Wednesday 19. May 2010
LSR in $119m Saint Petersburg housing development
DSK Blok, a subsidiary of the Saint Petersburg-based LSR, has won a $119m contract for new housing construction from...
Monday 17. May 2010
Belgium's Banimmo raises E75m in bonds for acquisitions
Belgian real estate company Banimmo, a unit of French REIT/SIIC Affine, has raised E75m through an issue of five-year...
Monday 17. May 2010
French FdR buys MSREF stake in E59m office JV
Foncière des Régions, one of the largest French REIT/SIICs, has bought out Morgan Stanley Real Estate Fund's 75% stake...
Monday 17. May 2010
NL's Corio reverses loss in exciting first quarter
Dutch shopping centre REIT/FBI Corio boosted its direct result 13% in the first three months of 2010 when major changes...
Monday 17. May 2010
Germany's IVG turns in first quarterly profit since 2Q08
Further writedowns on Bonn-based listed IVG's standard real estate portfolio in first quarter were well offset by...
Monday 17. May 2010
Hamburg's alstria moves closer to REIT-equity minimum
German REIT alstria office posted first quarter revenues and funds from operations down 10% from 1Q09 due to asset...
Monday 17. May 2010
PSP Swiss Property raises guidance after 1Q10
PSP Swiss Property, based in Zug just south of Zurich, raised EBITDA operating earnings outlook for 2010, after first...
Thursday 13. May 2010
German property funds propose 12mth minimum holding
The response from German open-end funds to the highly disputed federal government proposals has not been long in...
Thursday 13. May 2010
Belgian property returns 3.4% total in 2009
Investment in Belgian commercial property delivered a 3.4% total return last year, according to the Belgian Property...
Thursday 13. May 2010
Finnish residential prices up 11% year to March
Finnish residential prices in existing apartment buildings and terraced houses continued to increase in the first...
Thursday 13. May 2010
French REIT Gecina's former chairman Rivero said under investigation
Troubled French REIT/SIIC Gecina, France's third largest by assets, may be on its way toward sorting out its disputed...
Thursday 13. May 2010
Aberdeen's Degi sells London office for E77m to raise liquidity
Degi Europa, a German open-end property fund run by a unit of Aberdeen Property Investors, has sold its King William...
Thursday 13. May 2010
French REIT Gecina's former chairman Rivero said under investigatgon
Troubled French REIT/SIIC Gecina, France's third largest by assets, may be on its way toward sorting out its disputed...
Wednesday 12. May 2010
Tax on rents proposed to finance Grand Paris
The French listed property association has floated the idea of a new tax based on rental value as a way of financing...
Wednesday 12. May 2010
Property lending, development, mezzanine starts to pick up - CBRE
Bank lending to commercial property is beginning to recover, according to a report by realtor CB Richard Ellis. In...
Tuesday 11. May 2010
LSE's Matrix makes E212m Vienna deleveraging sale
The Guernsey-registered, LSE-listed Matrix European Real Estate Investment Trust has completed the disposal, for E212m,...
Tuesday 11. May 2010
Morgan Stanley closes German fund again, exits French office JV
The retrenchment of Morgan Stanley from the European real estate market went further this week with the complete...
Monday 10. May 2010
A E90bn question: Can German property funds survive planned reforms?
Proposed German federal government reforms to the Investment Law, which include an across-the-board 10% writedown to...
Monday 10. May 2010
French Altarea agrees E450m Cap 3000 mall purchase
French shopping centre REIT/SIIC Altarea Cogedim and main shareholders Predica and ABP are to buy Galeries Lafayette's...
Monday 10. May 2010
Grosvenor to invest E300m via French OPCI
UK investment and fund management group Grosvenor has won approval to launch its first French institutional OPCI...
Monday 10. May 2010
Frankfurt Opera Tower for sale again for E500m-E600m
US property group Tishman Speyer has placed the Opera Tower in Frankfurt up for sale again. The 168-metre office...
Monday 10. May 2010
Hamburg's TAG buys Franconofurt units in share deal
Hamburg-based property group TAG has acquired, using its own shares, 97% of the equity of FranconoWest and 100% of its...
Monday 10. May 2010
Pre-lets could herald upturn in Madrid
Four major pre-let contracts concluded in Madrid over the last four months could be a sign that the market for...
Monday 10. May 2010
Norwegian Property progresses on office, hotel split
Norwegian Property is pressing ahead with plans to divide the company into two separate firms, concentrating...
Monday 10. May 2010
AIM-listed Carpathian refinances E109m Riga mall
London's AIM-listed commercial property investor Carpathian has agreed a refinancing structure, allowing completion of...
Monday 10. May 2010
AIG/Lincoln tops mall in E132m Polish project
AIG/Lincoln Polska has topped out its Galeria Sloneczna shopping mall, in Radom, Poland,
part of its E132m mixed...
Monday 10. May 2010
AIM's Carpathian refinances E109m Riga mall
London's AIM-listed CEE commercial property investor Carpathian has agreed a refinancing allowing completion of its...
Monday 10. May 2010
AIG/Lincoln tops out mall in E132m Polish project
AIG/Lincoln Polska has topped out its Galeria S³oneczna shopping mall in Radom Poland,
part of a E132m mixed project....
Monday 10. May 2010
DIC Asset sees operations turnround, begins funds
Frankfurt-based DIC Asset reported a slight rise in profit in the first quarter, driven by stable rental income, higher...
Monday 10. May 2010
Grosvenor wins approval for French OPCI fund
UK investment management group Grosvenor has won approval to launch its first French institutional OPCI property fund...
Monday 10. May 2010
Paris green building growth to revitalise property sector
The Paris region's supply of environmentally sustainable real estate is expanding rapidly in a way that could help...
Monday 10. May 2010
French REIT Altarea agrees e450m Cap 3000 mall purchase
French shopping centre REIT/SIIC Altarea Cogedim and its main shareholders Predica and ABP have agreed to buy Galeries...
Monday 10. May 2010
Hamburg's TAG in share-only buy of Franconofurt units
Hamburg-based listed property group TAG Immobilien has acquired, using its own shares, 97% of the equity of...
Friday 07. May 2010
German fund paper not meant for publication - Ministry
The German government concept paper for reforms in the Investor Law, also affecting real estate funds, was meant for...
Friday 07. May 2010
German BVI says sure no valuation discount imposed on property funds
The German investment fund association BVI has called for calm among investors in open-end property funds after German...
Friday 07. May 2010
Two more German open end property funds close on Berlin proposals
The German federal government's proposed changes to the Investment Law which, among other things, proposes an...
Thursday 06. May 2010
Frankfurt's Opera Tower should sell for E500m-E600m - industry sources
US group Tishman Speyer has placed the Opera Tower in Frankfurt up for sale again, according to industry sources. The...
Wednesday 05. May 2010
German property funds schedules emergency meeting on Berlin proposals
The German investment fund association BVI has called an emergency meeting tomorrow to discuss proposals from the...
Wednesday 05. May 2010
Berlin housing firm GSW postpones IPO
Berlin-based housing company GSW has cancelled its planned flotation, saying it was postponed due to volatility and...
Monday 03. May 2010
Spain's Colonial eyes normal business after E4.9bn recapitalisation
The E4.9bn financial restructuring of Spain's struggling property group Inmobiliaria Colonial, including up to E3bn new...
Monday 03. May 2010
PIE German Property Breakfast - 21 May in London - Registrations now open
Registration is now open for Property Investor Europe's next expert seminar: German Property Breakfast taking place in...
Monday 03. May 2010
Property impact from Euro debt crisis seen low
Given the political and economic fallout of the Greek debt crisis and turmoil in government bond markets in Europe,...
Monday 03. May 2010
Back to basics, says Tristan Capital's Lewis, eyeing higher returns
Ric Lewis left AEW Europe a year ago to set up Tristan Capital Partners with a firm reputation as a...
Monday 03. May 2010
Milan's First Atlantic RE launches opportunistic fund post crisis
Milan-based investment manager First Atlantic Real Estate is expanding post crisis and launching a new opportunistic...
Monday 03. May 2010
Shake-out in Croatian tourism real estate as operators adapt post-crisis
A shake-out is taking place in Croatian real estate, particularly in tourism; over-leveraged hotels and resorts cannot...
Monday 03. May 2010
Moving beyond standard deviation to assess real estate risks
The roller coaster ride of the credit crisis and the economic recession has placed the inadequacy of current tools for...