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Economy & Financial

Patrizia confirms forecast for the year

As part of its annual report for the first half of the year, Patrizia reports that assets under management (AUM) recorded double-digit growth of 16.7% y-o-y to €56.2 billion. According to the investment company, the reasons were the continuing positive valuation effects, the takeover of Whitehelm Capital as well as organic gr...
Friday, 12. August 2022

Deutsche EuroShop increases sales and earnings

Despite the continuing difficult market situation, Deutsche EuroShop (DES) reports a good operational business development for the first half of 2022. Revenue grew 0.7%, from €104.9 million to €105.7 million. At €84.1 million, net operating income (NOI) was 17.1% above the previous year’s level, while earnings before interest...
Friday, 12. August 2022

Hibernia changes name to reflect cessation of REIT status

Hibernia REIT has changed its name to Hibernia Real Estate Group Limited to reflect the fact that following the completion of its acquisition by Brookfield on 17 June 2022 it ceased to be an Irish real estate investment trust. The Company’s shares have been delisted from Euronext Dublin and the London Stock Exchange.
Thursday, 11. August 2022

Barings to acquire Altis Property Partners

Barings today announced the signing of a share sale agreement to acquire 100% of Altis Property Partners (Altis), a leading real estate firm based in Australia. The parties expect to close the transaction on September 1, 2022.
Thursday, 11. August 2022

TCC hires Dominika Surovcová and Jaroslav Bělina

Trammell Crow Company (TCC) has appointed Dominika Surovcová as Commercial Director and Jaroslav Bělina as Construction Director in the Czech Republic to support its ongoing European growth. Both executives will report to Petr Kovařík, Head of TCC’s Czech Republic and Slovakian Logistics.
Wednesday, 10. August 2022

Aareal Bank's operating profit up by 50 per cent

Aareal Bank Group achieved good results for the second quarter of 2022, despite a challenging market environment. Based on preliminary figures, consolidated operating profit in the second quarter amounted to € 61 million, up by approximately 50 per cent compared to the previous year’s figure (Q2 2021: € 41 million).
Wednesday, 10. August 2022

S Immo: CPI calls for extraordinary general meeting

The Management Board of S Immo AG has received a request from CPI Property Group to convene an Extraordinary General Meeting with the agenda item „Changes to the Supervisory Board“.
Wednesday, 10. August 2022

NAS Invest names Marco Lüder as Head of ESG

As newly appointed Head of ESG at NAS Invest, Marco Lüder will guide the company’s future development on all aspects of sustainability. In this role, the 50-year-old real estate investment executive will introduce and implement mechanisms to take sustainability fully into account at both the portfolio and company levels.
Wednesday, 10. August 2022

Corestate records loss in the first half of 2022

Corestate Capital Group reports results for the first half of 2022. The group posted earnings after taxes from continued operations of € -521.8 million (previous year: € 3.2 million).
Tuesday, 9. August 2022

pbb achieves solid results in the first half of 2022

Deutsche Pfandbriefbank AG (pbb) posted a stable result in the second quarter of the current financial year 2022. At € 65 million, the pre-tax result slightly exceeded the same quarter of the previous year (Q2 2021: € 62 million; consolidated figures in accordance with IFRS). In the first six months of 2022, the pre-tax resul...
Tuesday, 9. August 2022

Alstria announced solid results

Alstria Office REIT-AG remains on course in the first half of the year: The revenues developed as planned and reached € 91.6 million in the first half of 2022 (6M 2021: € 90.0 million). The increase by 1.7% is mainly due to revenues from new leases, indexations as well as revenues from leases of the properties acquired in 202...
Tuesday, 9. August 2022