Euro Property articles from July 2004

Euro Property archives from July 2004

Arlington Securities.
July 1, 2004... The UK business park specialist has recently moved into fund management with its purchase of Aberdeen Asset Management's UK and continental European division Arlington Securities' [pounds sterling]50m acquisition of Aberdeen Asset Management's...

EU is still the governing force in Brussels.
July 1, 2004... Take-up by government bodies, while just a fraction of total demand, is the constant factor that drives the Brussels office market. Much of the stock needs refurbishing, and with German funds wary of such projects, domestic investors are in a...

Foreign funds develop routes into Denmark.
July 1, 2004... Foreign investors are starting to crack the previously closed Danish market by teaming up with the dominant domestic players and forward funding development. US, German and UK funds are now active alongside domestic institutions and private...

Corio.
July 1, 2004... The Dutch fund has just completed an office disposal programme, the proceeds of which will go towards expansion in the retail sector, especially in Spain and Italy Corio is one of Europe's leading retail funds, the sector accounting for 72% of...

Farewell to Benchmark and Canary Wharf as merger activity continues.
July 1, 2004... The listed UK property market hit an all-time high on 18 June. The EPRA UK Index closed at 1,750, the highest point in its 14- year history. In the month to 18 June, the UK market drove forward 8.5% in sterling terms (11.6% in euro terms),...

Heard in the eurolounge...
July 1, 2004... Birmingham gets marks for excellence The UK city of Birmingham has become the recipient of the first ULI Europe Award for Excellence. Jury co-chair Michael Spies, Tishman Speyer Properties' senior managing director, said the Bullring retail...

Ilmarinen deal shows Finland's potential.
July 1, 2004... Ilmarinen's sale of a 350m Finnish portfolio in May attracted both domestic and international investors. The deal was clinched by UKfund manager Doughty Hanson, but Finland's sound economic prospects are also attracting German investors to the...

GE Capital Golub Europe.
July 1, 2004... The US developer was one of the first to enter the central European market. It has recently moved into residential development and small-scale investment deals GE Capital Golub Europe (GECGE) is a veteran private developer in central Europe...

Hammerson.
July 1, 2004... The UK company has a big presence in France, where it is listed as a tax-efficient SIIC. It plans to focus on the French and the UK markets, especially the retail park sector Hammerson is unique among quoted UK property companies in having a...

LaSalle Investment Management.
July 1, 2004... The global fund manager acts for many institutional clients, as well as investing on its own account. Its newest fund will target Asia, where it aims to achieve 20% returns Global property fund manager LaSalle Investment Management (LIM) has...

Reit vehicle offers pan-European drive.
July 1, 2004... The reaction to the takeover of France's Societe Fonciere Lyonnaise by Spanish company Inmobili.ria Colonial suggests that Europe is still a long way from accepting or encouraging pan-European offices players. The main difficulty continues to...

People.
July 1, 2004... Lehman revamps private equity team Global investment bank Lehman Brothers has made two senior appointments to its European real estate private equity group. Gerald Parkes joins from Invesco Real Estate as managing director and head of the...

Grosvenor warns of inflationary dangers.
July 1, 2004... Rising oil prices could be the spur that starts an inflationary spiral, according to Grosvenor's latest Global Outlook report. The report says that while a crisis on the scale of previous inflationary episodes is unlikely, it will be important...

Property returns slide again across Germany.
July 1, 2004... German property returns dropped 2.5% last year, the sector's second successive annual fall, according to the DIX/IPD German property index. In 2002, property returns were 4.3% while in 2001 they stood at 5.9%. The fall came as the rate of...

Nordic model prefigures European index.
July 1, 2004... IPD's Nordic index compares data across national markets with different currencies, and as such is the first step towards a pan-European index. But the credibility of such a venture will depend on persuading more international investors to...

Nordic markets.
July 1, 2004... The Nordic countries' recovery prospects are attracting the interest of US and German funds, with Sweden being the primary choice for investors The weather can be cold up there, but right now the Nordics are arguably the hottest area for...

Colonial's French play leaves critics cold.
July 1, 2004... Spanish property company Colonial's takeover of French SIIC Societe Fonciere Lyonnaise hands it a prime French office portfolio. But some analysts see the deal as "growth for growth's sake", rather than the chance to build a strong...

Luxembourg's FCP gets venture capital rival.
July 1, 2004... The SICAR is Luxembourg's latest bid to remain the jurisdiction of choice for investors seeking a tax-efficient route into property investment. The vehicle offers less regulation and minimal tax, but may only be used to hold risk-bearing or...

Industry aims to drive a competitive vehicle.
July 1, 2004... Three UK property industry bodies have been telling the government what they want from the proposed UK answer to real estate investment trusts: a vehicle with the flexibility to invest without restrictions, enabling it to compete with its...

Swedes fight to regain some home territory.
July 1, 2004... Sweden, one of the first European countries to go into recession four years ago, is now tipped to be leading the way into recovery. Domestic investors are keen to start buying Stockholm property again, but face tough competition from a range...

Europe's tenants still have the upper hand.
July 1, 2004... Occupier confidence across European markets is either stable or improving, according to Jones Lang LaSalle's (JLL) office Leasing Market Conditions report. But confidence is only being translated into tenant demand in Dublin, Stockholm, London...

Reits are an American dream that may come true in Europe.
July 1, 2004... USexperience proves that property companies can compete against those from other industries The recent moves to found real estate investment trusts (reits) in the UK and France have been largely governed by the governments' desire to increase...

Reits are an American dream that could come true in Europe.
July 1, 2004... US experience proves that property companies can compete against those from other industries The recent moves to found real estate investment trusts (reits) in the UK and France have been largely governed by the governments' desire to increase...

Oslo reads the signs of good times to come.
July 1, 2004... High vacancy rates in Oslo's office markets are a hangover from a collapse in demand and rents after 2001. But a recent portfolio deal by domestic institution Storebrand suggests that the market may have bottomed out, and foreign buyers are...

Rents and yields Q1 2004.
July 23, 2004... Ownership structure A restructuring has persuaded Akaria and Pricoa not to sell Arlington's management 25% Legal & General 25% Pricoa Property Private Equity 25% Akaria 25% Source: Arlington Securities Recent Brussels deals...

Rents and yields - Q4 2003.
July 23, 2004... Ownership structure A restructuring has persuaded Akaria and Pricoa not to sell Arlington's management 25% Legal & General 25% Pricoa Property Private Equity 25% Akaria 25% Source: Arlington Securities Recent Brussels deals...