AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.

Euro Property articles from September 2006

2,067 total articles

Set up an RSS feed

Close Set up an RSS feed that alerts you when new articles from Euro Property are available.

Frequently asked questions about RSS feeds

to find out when new articles for Euro Property arrive.

Link to this page

Create a link to this page

Copy and paste this link tag into your Web page or blog:

<a href="http://www.accessmylibrary.com/archive/435260-euro-property/september-2006.html" title="Articles and back issues from Euro Property">Articles and back issues from Euro Property</a>

Euro Property archives from September 2006

Europolis fund will channel [euro]1bn into Russia and Ukraine.
September 1, 2006... Investkredit and EBRD are on board as Austrian firm launches Russia's biggest ever unlisted property fund Austrian property company and fund manager Europolis is launching a [euro]1bn opportunity fund that will target mainly Russian and...

Hannibal slims down for Develica deal.
September 1, 2006... Develica Deutschland has agreed to buy a German property portfolio from troubled fund manager Deka after seven months of intense negotiations. However, the portfolio being sold by Deka, which is called Hannibal, has ended up much smaller...

Tax reforms shake investors' faith in Italian property scene.
September 1, 2006... Second round of tax reforms by Italian government give favourable treatment to property deals, but investors remain worried by earlier proposal for 10% sales tax The Italian government has undermined confidence in the country's property...

ImmoEast invests [euro]180m in eastern European housing.
September 1, 2006... Immoeast has invested [euro]180m in the development of 2,000 flats in Poland, Slovakia, Bulgaria and Romania. The Austrian listed company has linked up with developers and plans to sell the flats to private individuals when completed. The...

In brief.
September 1, 2006... Jupiter mission for PRUPIM PRUPIM has bought the Jupiter Building in Amsterdam from OVG Projectontwikkeling for [euro]44m, reflecting a yield of just over 6%. The Jupiter Building is a 12,000m[sup.2] office building built in 2004 and...

Pirelli swaps MSREF for Calyon in loans venture.
September 1, 2006... Calyon, the investment banking arm of French bank Credit Agricole, has replaced Morgan Stanley Real Estate Funds (MSREF) as Italian property group Pirelli RE's partner in a deal to buy a portfolio of non-performing property loans. The...

Two more Spanish companies catch takeover fever.
September 1, 2006... Spain continues to be Europe's hottest listed property market, with two takeover bids announced last month. Spanish property group Construcciones Reyal has launched a [euro]3.3bn bid for listed residential and commercial developer Urbis,...

G-REIT regulations '70% ready', but big questions remain.
September 1, 2006... Key details of German REITs, set for launch in 2007, have yet to be set, according to Kempen & Co. Following a meeting with Germany's legislators, the analyst described the draft legislation as "70% ready". The regulations will require 75%...

SIIC buyers give CGI a bonus on four Paris property sales.
September 1, 2006... German fund reduces capital gains liability on deals by selling to two French SIICs German open-ended fund manager CGI has sold four Paris properties, securing its desired [euro]400m-plus price from two French SIICs. Gecina has paid...

Rabobank and SNS share spoils in Bouwfonds disposal.
September 1, 2006... ABN Amro has sold its [euro]1.2bn Bouwfonds property unit to two Dutch companies. Insurer SNS Real agreed to pay [euro]840m for Bouwfonds Property Finance and Rabobank agreed to buy the asset management and property development activities...

Falcon to set record yield in swoop for Slovakian assets.
September 1, 2006... Spanish investor's planned purchase of Bratislava logistics centre from developer Karimpol would take Slovakian industrial property yields to a new low of 7% Developer Karimpol is to sell a logistics centre near Bratislava to Spanish...

Hilton works on Scandic chain sell-off.
September 1, 2006... Hilton Hotels Corporation has appointed Citigroup to explore a possible sale of all or part of its Scandic chain of hotels. The Scandic chain was bought by Hilton International for [pounds sterling]640m ([euro]939m) in 2001 and comprises...

In brief.
September 1, 2006... Fall predicted for EU-15 returns Henderson Global Investors is predicting that property returns will average around 12% across the EU-15 countries this year, falling to 8% in 2007. For the five years from June 2006, the company forecasts...

ING and AMP continue Aussie push into Europe.
September 1, 2006... Australian investors' interest in European property has continued with a Paris office purchase and a fund tie-up. ING Real Estate Investment Management has bought the 13,537m[sup.2] Neuilly-Victor Hugo (NVH) office project in Neuilly-...

Mogull's Benson Elliot raises [euro]335m for debut vehicle.
September 1, 2006... Former Doughty head's fund aims for [euro]1.5bn portfolio Benson Elliot Capital Management, the private equity firm launched by former Doughty Hanson property head Marc Mogull, has closed its first fund with [euro]335m of equity. ...

The Mills to pay off loan through three mall sales.
September 1, 2006... US mall developer The Mills Corporation has sold three shopping centres, including two in Europe, to Canadian investor and joint-venture partner Ivanhoe Cambridge for $981m ([euro]762m). The deal values the Vaughan Mills centre in Ontario,...

Trigranit on course for listing as ImmoEast buys stake.
September 1, 2006... Austrian developer ImmoEast has paid Polus Holding [euro]400m for a 25% stake in central and eastern European development specialist Trigranit. Trigranit also announced plans to list on the stock exchange in Vienna or London in the next...

East European venture listed on AIM.
September 1, 2006... A new property venture targeting central and eastern European property has been listed on the Alternative Investment Market in London. The venture, North Real Estate Opportunities Fund, is run by former Resolution director Magnus Lofgren...

Hines sells Munchen Tower in the city's biggest ever deal.
September 1, 2006... US property giant sells 38-storey tower to arm of Singapore government for [euro]300m Hines has sold the Uptown Munchen Tower and adjacent campus building to GIC Real Estate, the investment arm of the government of Singapore, for...

Aareal snaps up Dutch warehouses for logistics fund.
September 1, 2006... Aareal Asset Management has bought two logistics properties in the Netherlands for its Aareal EuroLogistics Fund. Aareal has bought a 50,000m[sup.2] warehouse in Eindhoven and a 12,000m[sup.2] warehouse in Venlo for a total of [euro]54m,...

In brief.
September 1, 2006... Warsaw park fetches [euro]100m Irish investor Caelum Development has sold the 90,000m[sup.2] Okecie retail/office park in Warsaw to Polish fund BPH FIZ SN for more than [euro]100m, reflecting a yield between 6% and 6.25%. Knight Frank...

UK tracker from Goldman Sachs.
September 1, 2006... Goldman Sachs has launched a listed security, linked to the IPD property index, to provide investors with UK commercial property returns. The Goldman Sachs UK IPD Tracker - designed for both institutions and private investors - is listed...

[euro]360m Morley fund targets German recovery.
September 1, 2006... Morley Fund Management has launched a [euro]360m German retail fund. The vehicle, to be called the German Retail Investment Property Fund, will be managed with SachsenFonds Asset Management, which also asset manages the Aviva Central...

Rate rises hit Wereldhave.
September 1, 2006... Evidence that higher interest rates are starting to affect investors came through this month when Wereldhave posted its interim results. Interest charges rose [euro]2.2m, or 23%, of which [euro]1.1m was attributable to higher rates. The...

Spending set to top [euro]200bn by year-end.
September 1, 2006... JLL reports 30% investment increase to [euro]95bn for first half, with Germany taking the lead in cross-border deals Commercial property investment in Europe reached record levels in the first half of 2006, with [euro]95bn traded; the...

Capital & Counties pays [euro]620m for Covent Garden sites.
September 1, 2006... Scottish Widows Investment Partnership and Henderson Global Investors have sold the assets from its Covent Garden Market LP fund for [euro]620m to Capital & Counties. The Liberty International subsidiary has bought a 42,000m2 portfolio,...

Tishman Speyer adds Tour Esplanade to Paris portfolio.
September 1, 2006... [euro]390m acquisition in La Defense brings Paris portfolio to 250,000m2 Tishman Speyer has bought Tour Esplanade in Paris's La Defense district from SITQ - the property arm of Caisse de dep" et placement du Quebec - for around [euro]390m....

Ghent office park sold to insurer.
September 1, 2006... Icelandic insurer Sjov.-Almennar has bought the 70,000m[sup.2] Southgate office park in Ghent, Belgium, for [euro]163m from Baloise unit Mercator Insurance. The deal reflects a yield of around 6.5%. US investment bank Bear Stearns' Real...

BL fund buys in Portugal.
September 1, 2006... British Land's European retail warehouse fund, PREF, has bought three Portuguese retail parks from CapitalInvest for [euro]100m, a combined net initial yield of 6%. PREF, which owns the 17,000m[sup.2] Sintra Retail Park, near Lisbon, has...

In brief.
September 1, 2006... ING fund buys German assets The ING Industrial Fund has agreed to buy six German industrial properties for [euro]58.4m in an offmarket deal. The price represents an initial yield of 8.5%. The German properties are being acquired through a...

Insurer adds to its risk profile.
September 1, 2006... Rabobank's acquisition of one half of Dutch real estate business Bouwfonds was not a shock to the market, but SNS Reaal's purchase of its finance division did raise eyebrows ABN Amro surprised the market with the sale of Bouwfonds, the...

Double derivatives deals boost budding sector.
September 1, 2006... ABN AMRO and Merrill Lynch have given UK market its first subsector swap Property derivatives in the UK took a big step forward last month, with the first subsector-specific swap, as ABN AMRO and Merrill Lynch took a [euro]10m position in...

Big numbers change property equation.
September 1, 2006... Some big, significant numbers have been bandied about this month. The biggest is the [euro]200bn Jones Lang LaSalle expects to be spent on commercial European property investment this year - nearly [euro]50bn up on last year. It sounds hard to...

People.
September 1, 2006... CRE Fonds team at full strength CRE Fonds Management has completed its fund management team. Managing partner Mario Liebermann and managing director Daniel Grosch will be joined by Siegrid Maas, Marcel Schendekehl and Jens Freudenberg....

Heard in the Eurolounge.
September 1, 2006... Pirelli maintains its grip Merrill Lynch is crediting Italy's Pirelli RE with having a major influence on the country's new property sales tax regime, which has been extensively moderated since it was first announced - much to the relief...

REITs offer hotel buyers an easy way to check out.
September 1, 2006... REITs may offer an exit route for the private investors that are playing an increasing role in the European hotel sector In the past decade there has been an evolution in hotel ownership, with a major shift from the owner occupier model to...

Investors ready to head north.
September 1, 2006... Retail schemes and office developments located in the traditional core markets of France, Germany and the UK are the new favoured destinations for property investment Property investors are returning to the core markets of Northern Europe,...

Key data: Non-listed sector.
September 1, 2006... Eurozone interest rates are expected to rise again Strong growth reported in French and German economies As expected, the European Central Bank raised its base lending rate to 3% at its meeting at the beginning of the month. ECB...

Key data: German open-ended funds.
September 1, 2006... Funds saw net inflows for the second consecutive month All three Deka funds continued to lose money Germany's open-ended funds continued their recovery, recording net inflows instead of losses for the second consecutive month. The funds...

Rail links provide lifelines for capital's development.
September 1, 2006... Rail infrastructure projects are at the heart of plans to regenerate many London areas It you take a quick poll of any group of Londoners to find the thing that annoys them most about their city, transport is always the number one...

Key data: Occupiers.
September 1, 2006... Improved economic conditions boost European take-up Sofia's office stock grew by 11% in the first half of 2006 Take-up jumps 15% across 14 key European markets Occupiers' expansion plans across Europe continue to drive office...

Key data: INREV.
September 1, 2006... German managers' funds have a combined [euro]112bn gross asset value The majority of funds will close in 2009 UK fund managers oversee the largest number of funds in the INREV database but German managers handle the most in terms of gross...

Key data: The listed sector.
September 1, 2006... European index recorded its second strongest month for two years LandSec's share price rose 10% during July The EPRA/NAREIT Europe Index recorded its second strongest month for two years in July, adding 6.4%. Major countries in Europe...

Institutions check out the hotel investment market.
September 1, 2006... A lack of stock in conventional commercial property markets, particularly in London, has led some UK institutions to consider investing their money in hotel ownership For years hotels have been an asset class that has only attracted...

Elephant follows Canary path to catch overspill.
September 1, 2006... Overheated London core and a committed council will drive Southwark's transformation "The central London property market has been overheated for so long. It is expanding and it needs to expand into something. That's why Canary Wharf was...

London's shopping spree.
September 1, 2006... Just over halfway through 2006, last year's records are already being broken as overseas and domestic investors' appetite for limited stock remains unslaked It has already been a year of records for central London. So far in 2006, yields...

London.
September 1, 2006... The positive gap between borrowing rates and yields may have vanished, but rental growth and value rises are still fanning the flames of investor demand, especially in non-core areas Office yields in the core London markets of the City and...

Fadesa.
September 1, 2006... The Spanish residential and commercial developer has set its sights on international markets to provide half of its sales in the next few years In June, new Fadesa chief executive Antonio de la Morena said he expected to see the listed...

Orion Capital Managers.
September 1, 2006... The fund manager has diverged from its usual opportunistic strategy to launch a core European fund, whose target investments include retail schemes in second-tier cities Opportunity fund specialists are the dashing blades of real estate...

Trigranit Development Corporation.
September 1, 2006... Trigranit, which plans a [euro]2bn stock exchange listing later this year, is dedicated to building landmark mixed-use schemes in capital cities across central and eastern Europe Trigranit announced this month that it is planning a...

Norwegian property.
September 1, 2006... Norway's real estate market has at last opened up to foreign investors with a series of property company flotations in the past two years, all created by investment banker Bard Bjolgerud For years, the Norwegian property market was the...

Quinlan Private.
September 1, 2006... The Irish property investor/developer has teamed up with US-based Golub & Co to create one of the largest developers in central and eastern Europe. It has also entered the Spanish market Irish investors have become big players in...