Immo News: A Real Estate Information Aggregator Website


 

Immo-news.net was a real estate information aggregator website.
Content is from the site's 2009 archived pages offering just a sample of the type of news articles that were posted over a number of years .

 



2009 POSTS

UK commercial property creates a compelling investment opportunity, according to recent report

The UK commercial property market will begin to recover later this year and selective entry into this market could provide excellent risk-adjusted returns, according to a new report by Cordea Savills, the international property fund manager.

The report predicts that by the end of 2009 UK capital values will have fallen around 50 per cent from their 2007 peak, yet argues that this short term distress is creating a “window of opportunity” for investors to purchase high-quality commercial property, with secure income, at attractive prices. For investors with Euros or US dollars, entering the market during this decline could offer even greater opportunities with a 20% retreat for Sterling giving a 70% peak to trough fall in capital values according to market indices

However, indices only reflect part of the story. In reality, a two-tier market for commercial property is emerging in the UK. This is reflected by an increasing demand for prime property and continued malaise in the secondary market. Prime assets with very long dated income (i.e. leased to tenants for over 10 years until first break) that are let to high quality covenants (for example UK Government or the UK’s leading supermarket) have been recognised for their exceptionally well priced, low risk income (circa 7.5% per annum). Investors have started once again to refer to the “bond-like characteristics” of such property investments. This contrasts starkly with properties let on shorter leases (i.e. those which may have to be re-let in a very weak tenant market over the next 2-3 years), with weaker covenants or development opportunities, which have yet to really see any purchaser-led demand return

Property is ultimately a cyclical play; investors entering the market to secure income can also expect to benefit from improving capital values as the recovery commences.

The report also states that the risk premium between property and other asset classes is now so wide that there will be an inevitable movement of investor money from bond assets to their property equivalent. Against other asset classes the Net Initial Yield from UK property at 7.66 per cent (March 2009) is notably high; the dividend yield from the FTSE All Share Index was 5.12 per cent in March 2009 and gross redemption yields on 5 – 15 year gilts was 3.73 per cent in the same month. Furthermore, Cordea Savills predicts that the yield for IPD All Property will reach 9% by the end of the year.

If property is considered as a fixed income asset, then it also provides three potential further advantages over fixed income bonds:

Property rents are typically paid in priority to corporate bond payments (excluding secured debt), thus in financial default a rent is paid in advance of the coupon on the bond

Furthermore, in financial default a corporate bond does not leave the investor holding a tangible asset, contrasting with tenant default in property where the investor is left with the land and buildings upon it

Property provides what is referred to as an ‘equity warrant’ – the nature of the UK lease structure provides a potential free-ride on any future market rental uplift; no such mechanisms exist on standard bonds. Such a characteristic is uniquely strong in the UK compared with the rest of Europe

Property also provides opportunities at the termination of the lease, the asset providing both a residual value and of course the potential advantages of alternative tenants and building uses

The report rejects the argument that the UK economy is set to experience a protracted period of turmoil, akin to Japan’s ‘lost decade’ and suggests that the timely introduction of substantial fiscal stimulus packages early in the crisis will be reflected in a swifter economic recovery than other European markets, which have been slower and less decisive in their response.
George Tindley, Director of Investment at Cordea Savills commented, “The UK is one of Europe’s core property markets, accounting for 29% of its investible market size. As well as its scale, it is highly transparent and offers an unparalleled quality of lease structure and income stream. Recent short term changes in pricing can only help to increase the relative attractions of investing in this market over the medium to long term, particularly considering the deteriorating prospects of the Eurozone.
“There has been a noticeable change in sentiment towards property in recent weeks which has been caused by a number of factors, not least diminishing fears of systemic risk to the UK economy; the prospect of a return to GDP growth in early 2010; improved (although still limited) debt availability, and value having been arrived at for the prime end of the market.”
“This is a golden opportunity for investors to exploit the power of their equity by cherry-picking assets demonstrating strong covenants, established locations and long lease length at a discount to historic market levels.”

Source : Cordea Savills | 22/05/2009

 



LOOP5 'takes-off' on October 9, 2009

Investment of € 265 million that creates 1.000 jobs
56,500 square metres of gross lettable area (GLA) with 177 shops
95% of the GLA already let

Ready for take-off - this is the signal which Sonae Sierra and it´s partner Foncière Euris are confirming for the LOOP5 shopping and leisure centre in Weiterstadt. On October 9, 2009, the large-scale themed centre, whose motto is the world of aviation, will open its doors after 2 years of construction.

With a gross lettable area (GLA) of 56,500 m2, visitors will be welcomed with an attractive tenant mix comprising 177 shops and restaurants made up of leading international and national brands as well as local tenants. Owned and developed by Sonae Sierra (50%) and Foncière Euris (50%) the LOOP5 shopping centre represents an investment of € 265 million and will create 1,000 jobs.

"The opening of LOOP5 is a significant milestone in our German market growth", states Álvaro Portela, CEO of Sonae Sierra. "All Sonae Sierra centres provide a fascinating shopping and leisure experience and I am sure that LOOP5 - with its innovative concept - will also be a major success."

LOOP5 is a shopping centre ready for take-off

Aviation will be the central topic of LOOP5. And there are several reasons for this: Weiterstadt is close to Frankfurt Airport. Furthermore, Darmstadt is home to the control centre of the European Space Agency, ESA. Internally and externally, visitors will find numerous and diverse design highlights which references to the world of aviation. Beside the significant exterior appearance close to the A5, this includes a corridor in the design of the "Jet-Age", leading from the "Contemporary Aviation" area to the "Pioneers of the History of Flight". With its themed centres, Sonae Sierra creates fascinating environments in which people not only shop, but also love spending their leisure time.

On course for success with the perfect tenant mix

A permanent feature of the Sonae Sierra strategy is to create a tailor-made fully-comprehensive offering comprising retail, services, restaurants and entertainment for the entire family using innovative concepts. LOOP5 is a reflex of this and has already 95% of it´s GLA occupied with tenant mix that comprises high-end national and international brands as well as medium-sized regional retailers. The anchor tenants are Peek & Cloppenburg, C&A, H&M and Saturn. But LOOP5 is also offering space to local retailers, for instance the jeweller Techel, the toy store Faix & Söhne and the Vereinigte Volksbank Weiterstadt. 17 restaurants and coffee shops will provide diverse culinary delights. Currently the company is finalizing the tenant-mix with the final selection of tenants in order to open with the best commercial and leisure offer of the region.

A Green Shopping Centre
As in the case of all Sonae Sierra Shopping centres, LOOP5 is also being constructed according the Company Environmental Management System (EMS). Trough the application of this strategy LOOP5 construction phase was certified in accordance with the ISO 14001 environmental standard. The objective of the Sonae Sierra Green Centres concept is to minimise the environmental impact resulting from the construction and operation of new shopping centres.

About Foncière Euris
Foncière Euris, www.fonciere-euris.fr, is a French stock exchange-listed company specialising in the development of shopping and leisure centres in Europe. The corporation forms alliances with top developers and invests in major projects that help urban regeneration. Foncière Euris is part of the Euris Group controlled by Jean-Charles Naouri. Foncière Euris also owns the Casino Group, France's second-largest stock exchange-listed retail chain.

Source : Sonae Sierra | Vendredi 22 Mai 2009

 



Hines Redevelopment Project in Washington, D.C. Achieves the U.S. EPA's 'Designed to Earn the Energy Star' for Energy Efficient Design

Hines, the international real estate firm, announced today that 1200 Nineteenth Street, the firm’s redevelopment project in Washington, D.C., has been recognized by the U.S. Environmental Protection Agency (EPA) as “Designed to Earn the ENERGY STAR®” for excellence in pre-occupancy design and construction. Using ENERGY STAR’s Target Finder tool, the design achieved an ENERGY STAR rating of 99, which means that if it performs as intended, the building will be in the nation’s top two percent in terms of energy performance.

Acquired by the Hines US Core Office Fund in 2003, 1200 Nineteenth Street is an eight-story office building originally constructed in 1964 and renovated in 1987. Asset, leasing and property manager, Hines, identified an opportunity to add leasable space and enhance its marketability by upgrading the building to current sustainable standards. The property was pre-certified Silver in the LEED® for Core & Shell rating system in December of 2008, though Hines anticipates a higher certification level when the building reaches substantial completion in late May or early June of this year.

The renovation effort is being managed by Hines in collaboration with architecture and engineering firm SmithGroup. Clark Construction Group is serving as the general contractor with MEP firm TOLK, structural engineer Thornton Tomasetti, civil engineering firm Delon Hampton & Associates and landscape designer Lee+ Papa and Associates contributing to the project.

Hines is adding three stories to the building, recladding the shell in high-efficiency glass and replacing major mechanical and electrical systems. Other green features include a green and reflective roof, which reduces HVAC loads and, in turn, reduces mechanical requirements and frees more leasable area. Hines anticipates that the building will reduce energy consumption by approximately 64 percent and water usage by approximately 38 percent when compared with the national average building. Anticipated annual greenhouse gas reductions are equivalent to annually removing almost 600 passenger vehicles from the road.

Hines Senior Vice President Bill Alsup said, “This building is an excellent demonstration of sustainable real estate practices. We have taken an existing structure, redesigned it for optimal resource efficiency and reused and recycled a large portion of its materials. But that’s only half of the equation. Operating the building efficiently will be equally important to both the environment and tenant comfort, and that is where Hines applies intense focus.”

SmithGroup Vice President and Senior Designer Andrew Rollman, AIA, LEED AP, said, "This repositioning was a great opportunity to take a dated 1960s asset, add density, and create a fresh, modern design featuring the highest standards of sustainability and energy conservation."
1200 Nineteenth Street is approximately 30% percent leased to McKinsey & Company and a number of retail tenants, including JoS. A. Bank Clothiers and Sam & Harry’s Restaurant.

Source : Hines | Vendredi 22 Mai 2009

 



THE BRACHA GROUP NAMED EXCLUSIVE SALES AND MARKETING AGENT FOR LOFT14, ONE OF MANHATTAN’S MOST LUXURIOUS CONDO DEVELOPMENTS

The Bracha Group, a luxury residential branch of Prudential Douglas Elliman, has been chosen as the exclusive agent to represent one of the most luxurious condo developments in Manhattan, Loft 14 The ten-story boutique condo building, located on 14th Street between 6th and 7th Avenue, features 9 private loft residences, each with elevator key access directly into the unit. Designed by renowned architectural firm, William Q. Brothers, Loft 14’s striking glass façade and cantilevered features create a very handsome profile on one of Manhattan’s most famous streets.

“I am delighted to be representing this high end boutique development,” said Ilan Bracha, Managing Director at Prudential Douglas Elliman and founder of The Bracha Group. “The developer has spared no expense in the finishes and design that have been into place. Loft 14 is in proximity to Manhattan’s hottest neighborhoods including the West Village, Meatpacking District, Chelsea and Union Square which makes for an exciting living opportunity,” Bracha added.

Loft 14 features eight 2 bedroom 2 bathroom units ranging in size from1,504 square feet to 2,320 square feet as well as a top floor duplex penthouse featuring 1,846 interior square feet. Each unit boasts the luxury of outdoor terrace space ranging from 175 square feet to the 9th Floor’s 700 square foot terrace with Empire State Building views to the penthouse’s unbelievable 837 square foot sky garden. Each unit is accessed by a private key lock elevator that opens directly into the living space where elegant 5 inch wide planks of Brazilian Grapia wood flooring run throughout the apartment. Most units boast floor to ceiling windows, cozy fireplaces encased in a custom Brazilian cherry wood mantle, sliding glass doors open directly to private terraces and Juliet balconies. South facing Juliet balconies overlook the vibrant character of 14th Street while North facing terraces feature breathtaking views of the Empire State Building and the New York City skyline. A boast worthy gourmet chefs kitchen features Bulthaup cabinetry, a Miele gas stove top, oven and dishwasher, SubZero refrigerator, a deep oversized stainless steel sink by Franke, chrome fixtures by Grohe, a honed Basaltina Stone countertop and a sleek ice blue backsplash by Blendheim. The spa-like bathrooms are surrounded by white Thasos marble walls and feature double headed showers, custom mahogany vanities with blue gascgonne countertops, a 6 ft porcelain soaking tub and a Toto Neorest toilet.

About The Bracha Group

The Bracha Group has been one of the top producing groups at Prudential Douglas Elliman for the past four years and The Wall Street Journal, lore Magazine and REAL Trends named them one of the top 50 real estate teams in the country by sales volume. In 2008, Bracha Group was honored with the following company wide accolades: #1 Team in gross commission, #1 Team in transactions, #1 team in sales exclusives. Experienced with over 500 transactions a year, Ilan and his team provide the full scope of residential brokerage and marketing services to both renowned and first-time developers as well as individual buyers and sellers. Mr. Bracha and his team provide personal attention and customized sales plans for their clients by helping them step by step through each transaction; they go the extra mile to make customers feel at ease and will always find time to give advice or answer any question the client may have. This includes highly specialized soup-to-nuts consulting in the areas of financing, construction design, sales and marketing.

The Bracha Group is currently the exclusive sales and marketing agent for a variety of new developments including BellTel Lofts in Brooklyn, Loft 14 in Chelsea, and Windsor Park in mid-town Manhattan.

source : BrachaBlog | Mardi 19 Mai 2009

 



PSP Swiss Property – Strong results. Solid capital structure. Full year’s forecast confirmed


For the reporting period January to March 2009, PSP Swiss Property has improved its results, compared to last year’s first quarter: Net income excluding changes in fair value increased by 11.5% to CHF 33.5 million (first quarter 2008: CHF 30.0 million). Including the revaluation gains of CHF 4.5 million, net income amounted to CHF 37.0 million (first quarter 2008: CHF 30.4 million). Earnings per share increased by 23.6% to CHF 0.89 (first quarter 2008: CHF 0.72). As at the end of March 2009, the NAV per share of CHF 62.73 was 1.5% higher than as at the end of 2008 (CHF 61.83). NAV before deducting deferred tax liabilities grew by 1.5% to CHF 73.10 (end of 2008: CHF 72.01).

Real estate portfolio
As at the end of March 2009, the real estate portfolio of PSP Swiss Property included 189 office and commercial properties in prime locations as well as 7 attractive development sites with a carrying value of CHF 5.174 billion (end of 2008: CHF 5.149 billion). In the first months of the year, we evaluated several acquisition opportunities, but no purchases were made.

The ongoing site developments progressed as planned. The following developments are worth mentioning. i) Hürlimann site, Zurich: Construction started at the beginning of 2009 for a unique
health spa combined with a boutique hotel. The health spa is planned to open at the end of 2010, while the hotel opening is planned for spring 2011. The total investment for this project amounts to approximately CHF 60 million (excl. land and infrastructure). ii) Wädenswil site: All 15 freehold apartments of the apartment complex „SeeSicht“ have been sold in the meantime and will be transferred to the buyers during this year. This will result in a net income from sales before taxes of approximately CHF 1.7 million for the 2009 business year. This gain is not part of the Q1 results.

Stable vacancy rate

As at the end of March 2009, the vacancy rate was 8.4% (end of 2008: 8.3%), whereof 1.9 percentage points were due to renovation work on several properties (end of 2008: 1.2 percentage points). 0.7 percentage points relate to the property on Bleicherweg 10 in Zurich which will be fully let after completion of the renovation work as at 1 December 2009. Most of the other renovation work will be completed in 2009 and 2010.

Solid capital structure

With an equity ratio of 49.6% (end of 2008: 49.1%) and a loan-to-value of 39.7% (end of 2008:
40.5%), the capital structure remains very solid. The amount of unused credit lines was CHF 575 million. The average interest rate was 2.49% in the first quarter of 2009 (first quarter of 2008: 2.70%). As per end of March 2009, the average weighted remaining term to maturity of all financial liabilities was 3.0 years (end of 2008: 3.1 years).

Outlook 2009

We confirm the forecast communicated during the publication of the 2008 annual results (27 February 2009): i) Based on the assumption of an unchanged property portfolio, an EBITDA excluding gains/losses on real estate investments of over CHF 210 million (2008: CHF 208.4
million) and, ii) a vacancy rate below 9% is expected at year-end of 2009.

source : PSP | Mardi 19 Mai 2009

 



LOOP5 'takes-off' on October 9, 2009

Investment of € 265 million that creates 1.000 jobs
56,500 square metres of gross lettable area (GLA) with 177 shops
95% of the GLA already let

Ready for take-off - this is the signal which Sonae Sierra and it´s partner Foncière Euris are confirming for the LOOP5 shopping and leisure centre in Weiterstadt. On October 9, 2009, the large-scale themed centre, whose motto is the world of aviation, will open its doors after 2 years of construction.

With a gross lettable area (GLA) of 56,500 m2, visitors will be welcomed with an attractive tenant mix comprising 177 shops and restaurants made up of leading international and national brands as well as local tenants. Owned and developed by Sonae Sierra (50%) and Foncière Euris (50%) the LOOP5 shopping centre represents an investment of € 265 million and will create 1,000 jobs.

"The opening of LOOP5 is a significant milestone in our German market growth", states Álvaro Portela, CEO of Sonae Sierra. "All Sonae Sierra centres provide a fascinating shopping and leisure experience and I am sure that LOOP5 - with its innovative concept - will also be a major success."

LOOP5 is a shopping centre ready for take-off

Aviation will be the central topic of LOOP5. And there are several reasons for this: Weiterstadt is close to Frankfurt Airport. Furthermore, Darmstadt is home to the control centre of the European Space Agency, ESA. Internally and externally, visitors will find numerous and diverse design highlights which references to the world of aviation. Beside the significant exterior appearance close to the A5, this includes a corridor in the design of the "Jet-Age", leading from the "Contemporary Aviation" area to the "Pioneers of the History of Flight". With its themed centres, Sonae Sierra creates fascinating environments in which people not only shop, but also love spending their leisure time.

On course for success with the perfect tenant mix

A permanent feature of the Sonae Sierra strategy is to create a tailor-made fully-comprehensive offering comprising retail, services, restaurants and entertainment for the entire family using innovative concepts. LOOP5 is a reflex of this and has already 95% of it´s GLA occupied with tenant mix that comprises high-end national and international brands as well as medium-sized regional retailers. The anchor tenants are Peek & Cloppenburg, C&A, H&M and Saturn. But LOOP5 is also offering space to local retailers, for instance the jeweller Techel, the toy store Faix & Söhne and the Vereinigte Volksbank Weiterstadt. 17 restaurants and coffee shops will provide diverse culinary delights. Currently the company is finalizing the tenant-mix with the final selection of tenants in order to open with the best commercial and leisure offer of the region.

A Green Shopping Centre
As in the case of all Sonae Sierra Shopping centres, LOOP5 is also being constructed according the Company Environmental Management System (EMS). Trough the application of this strategy LOOP5 construction phase was certified in accordance with the ISO 14001 environmental standard. The objective of the Sonae Sierra Green Centres concept is to minimise the environmental impact resulting from the construction and operation of new shopping centres.

About Foncière Euris
Foncière Euris, www.fonciere-euris.fr, is a French stock exchange-listed company specialising in the development of shopping and leisure centres in Europe. The corporation forms alliances with top developers and invests in major projects that help urban regeneration. Foncière Euris is part of the Euris Group controlled by Jean-Charles Naouri. Foncière Euris also owns the Casino Group, France's second-largest stock exchange-listed retail chain.

Source : Sonae Sierra | Vendredi 22 Mai 2009

 



Züblin sells retail property in Wedemark, Germany

Züblin Immobilien Holding AG today announced that its subsidiary in Germany had concluded the sale of its retail investment property in Wedemark-Mellendorf. The sales price after tax was in line with its IFRS fair value as of 31 March 2009.
The sale of this property is consistent with the Company’s revised strategy to concentrate its investment holdings on office properties in a few selected cities in Switzerland, France and Germany.
source : Züblin Immobilien | Mardi 19 Mai 2009

 



 

MAY 2009 POSTS

22/05/2009
UK commercial property creates a compelling investment opportunity, according to recent report
The UK commercial property market will begin to recover later this year and selective entry into this market could provide excellent risk-adjusted returns, according to a new report by Cordea Savills, the international property fund manager. The report predicts that by the end of 2009 UK capital values will have fallen around 50 per cent from their 2007 peak, yet argues that this short...

22/05/2009
Hines Redevelopment Project in Washington, D.C. Achieves the U.S. EPA's 'Designed to Earn the Energy Star' for Energy Efficient Design
Hines, the international real estate firm, announced today that 1200 Nineteenth Street, the firm’s redevelopment project in Washington, D.C., has been recognized by the U.S. Environmental Protection Agency (EPA) as “Designed to Earn the ENERGY STAR®” for excellence in pre-occupancy design and construction. Using ENERGY STAR’s Target Finder tool, the design achieved an ENERGY STAR rating of 99,...

22/05/2009
PATRIZIA Immobilien KAG buys 208 residential units for its German specialized fund
PATRIZIA Immobilien Kapitalanlagegesellschaft (KAG) mbH has made further investments for its specialized real estate fund “PATRIZIA German Residential Fund I”. The most recent purchase has been a portfolio with a total of 208 apartments. The total residential space of the apartments, situated in the areas of Hamburg and Hanover, covers almost 16,000 sqm. Confidentiality has been agreed with the...

21/05/2009
Lord Foster honoured with Prince of Asturias award
Lord Foster is to be the 29th laureate of the prestigious Prince of Asturias award for the Arts, it was announced today and will be formally presented with the prize at a ceremony in October in Oviedo, presided over by H.R.H The Prince of Asturias, heir to the throne of Spain. The awards, which were instigated by the Prince of Asturias Foundation in 1981, recognise scientific, technical,...

19/05/2009
PSP Swiss Property – Strong results. Solid capital structure. Full year’s forecast confirmed
For the reporting period January to March 2009, PSP Swiss Property has improved its results, compared to last year’s first quarter: Net income excluding changes in fair value increased by 11.5% to CHF 33.5 million (first quarter 2008: CHF 30.0 million). Including the revaluation gains of CHF 4.5 million, net income amounted to CHF 37.0 million (first quarter 2008: CHF 30.4 million). Earnings per...

19/05/2009
Nicolas Daumont rassure les salariés de Camif Habitat
Après avoir racheté Camif Habitat le 29 avril dernier, Nicolas Daumont, nouveau Président du Directoire, a rencontré le jeudi 14 mai l'ensemble des salariés. Cette réunion avait pour objectif de les rassurer quant au devenir de l'entreprise niortaise. Après plusieurs mois difficiles pour les salariés de Camif Habitat qui attendaient que l'on statue sur leur sort, la réunion organisée...

19/05/2009
Rapport Darrois sur les professions du droit : la FNAIM invoque l’intérêt du consommateur
Jean-Michel Darrois, avocat, a rendu il y a un mois au Président de la République le rapport commandé sur la création d’une grande profession du droit, qui aurait pu résulter du rapprochement entre avocats et notaires. La Fédération Nationale de l’Immobilier, première organisation représentative des professionnels de la transaction et de la gestion immobilières, s’insurge contre des...

19/05/2009
WDP CONFIRMS ITS PROFITS FORECAST
Closed-end real estate investment company WDP (Euronext: WDP) saw its net current result rise in the first quarter 2009 to 7.6 million euros (before allowance for the result on the portfolio and application of the IAS 39 rules). This means that WDP’s pattern of growth is continuing. WDP therefore also confirms its profits...

19/05/2009
Züblin sells retail property in Wedemark, Germany
Züblin Immobilien Holding AG today announced that its subsidiary in Germany had concluded the sale of its retail investment property in Wedemark-Mellendorf. The sales price after tax was in line with its IFRS fair value as of 31 March 2009. The sale of this property is consistent with the Company’s revised strategy to concentrate its investment holdings on office properties in a few...

19/05/2009
PANATTONI’S MARKET SHARE HITS 62 %!
The Developer Left Its Competition Behind In the 1st Quarter of 2009 Panattoni Europe, one of the biggest developers of industrial space in Europe, has summed up the 1st Quarter of 2009. Within the first three months of 2009 the company signed the biggest contract in the industry and leased ca. 54,000 sqm of warehouse space, which – according to the Cushman & Wakefield report -...

15/05/2009
Swiss Prime Site : In excellent shape
Swiss Prime Site AG increased its rental income by 3.3% to CHF 53.3 million in the first quarter of 2009. Operating profit (EBIT) rose by 27.6% to CHF 51.3 million and net earnings were up by 48.3% to CHF 31.3 million respectively. The loss of earnings rate declined to 3.5%. Swiss Prime Site remains optimistic for 2009. Despite the current economic environment, real estate..

14/05/2009
HOCHTIEF confirms Group guidance for 2009 at end of first quarter
# Large order backlog of EUR 31.35 billion ensures 19-month forward order book # High-caliber projects gained in all divisions # Construction services provider continues well on track HOCHTIEF has kept up its strong business trend through the financial crisis. Following the close of Q1 2009, the Group has confirmed its...

14/05/2009
European Commission Confirms WestLB´s Restructuring Plan
* Bank acquires planning and legal certainty * Reduction of total assets and risk-weighted assets by 50%, sale of participations and streamlining of domestic and foreign branch network * Landesbank consolidation remains an option The European Commission today announced a formal decision bringing the WestLB proceedings to a close. The risk..

14/05/2009
PIRELLI RE: UPDATED MARKET VALUE OF ASSETS UNDER MANAGEMENT €17.0 BN
Real estate NAV €0.8 bn In view of the forthcoming capital increase and in order to ensure that shareholders have complete information, Pirelli RE has requested its independent experts, as announced on April 20th, to update their valuations of the real estate portfolio managed at March 31st, 2009. Market values report a like-for-like variation of -0.5% since the end of December 2008. ...

14/05/2009
Foster + Partners unveils the Aurelis masterplan for Duisburg
Foster + Partners has revealed the Aurelis masterplan for Duisburg in the Ruhr region of Germany, which will regenerate a 36-hectare site close to the city centre with a major new commercial and residential hub. The project will extend the lively, mixed-use character of the practice’s masterplan for Duisburg’s centre and Inner Harbour to create a thriving new business community with shops, cafés,...

14/05/2009
Bouygues Inmobiliaria confía a Atisreal la comercialización en exclusiva de su edificio en la Calle Santa Leonor de Madrid
Atisreal ha alcanzado un acuerdo con la promotora multiespecialista Bouygues Inmobiliaria para comercializar en exclusiva el edificio de la calle Santa Leonor, 39, de Madrid. El edificio está enclavado en la zona de Julián Camarillo y goza de buenas comunicaciones gracias a los rápidos accesos desde la M40 y la M30, la cercanía del metro, y su proximidad al aeropuerto. El inmueble tiene...

14/05/2009
Logiciels pour l'immobilier : La Master Class Site Alpha fait étape à Lyon
L’éditeur de logiciels Site Alpha est renommé pour être à l’écoute de ses clients. L’une des meilleures illustrations de cette culture d’entreprise basée sur le dialogue est l’organisation, chaque année à Paris, de la Master Class. Cet événement, placé sous le signe des échanges, rassemble des professionnels de la gestion des bâtiments et des services aux occupants, afin de leur présenter les ...

12/05/2009
Union Investment kauft Logistikzentrum in Bad Hersfeld von Goodman
Die Union Investment Real Estate AG, Hamburg hat für ihren institutionellen Immobilienfonds Immo-Invest: Europa die Logistikhalle in Bad Hersfeld von der Firma Goodman Bad Hersfeld Logistics (Lux) S.a.r.l. erworben. Die 102.020 m² große Projektentwicklung wird im September dieses Jahres fertiggestellt sein. “Gemäß unserer Anlagestrategie trägt die Logistikhalle zur Diversifizierung des neben.
..
12/05/2009
Multi and ING conclude financing agreement (€72m) for first phase of Nieuwegein Center
Multi and ING conclude financing agreement (€72m) for first phase of Nieuwegein Center
Multi Vastgoed and ING Real Estate Development (Stadskwartier CV) have agreed funding of €72 million with ING Real Estate Finance (REF) for the first phase of the redevelopment and expansion of the center of Nieuwegein. Multi Vastgoed, the Dutch subsidiary of Multi Corporation, and ING RED intend to double the available retail space in the center of Nieuwegein to a total of 56,000 m² over...

12/05/2009
Foncière des Régions: Significant progress in the FdR 2010 action plan and a 3.8% increase in rental income in the first quarter of 2009 and a 3.8% increase in rental income in the first quarter of 2009
Foncière des Régions has assets consisting primarily of offices, featuring long leases and a high concentration of major companies among its tenants (France Telecom, EDF, Accor, Suez Environnement, Telecom Italia, etc.). With this model of a property owner as real estate partner to major companies, Foncière des Régions has a good overall view of its short and medium ...

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