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» Chronological View: " Economy & Financial " «

BAM completes the buyback programme of 3,853,600 ordinary shares

Following the announcement of 9 May 2018, BAM has completed the buyback programme of 3,853,600 ordinary shares in order to neutralise the dilutive effect of the stock dividend. Between 22 May and 18 June 2018, the shares were repurchased at an average price of €3.9321 per share for a total consideration of €15.2 million. The ...
Wednesday, 20. June 2018

LGIM Real Estate provides staple financing for solar portfolio

LGIM Real Assets (Legal & General) has provided a £48m (c. €54.6m) senior financing to support Fiera Infrastructure on their investment into a fully operational solar photovoltaic (PV) technology portfolio consisting of more than 13,250 residential and commercial rooftop systems. This transaction marks Fiera Infrastructure’s ...
Wednesday, 20. June 2018

Strong growth in property funds managers in 2017

The average assets under management (AUM) of property fund providers increased significantly in 2017, rising from €13.6 billion in 2016 to €16.7 billion at the end of 2017. This corresponds to an increase of around 22 percent. According to the “ANREV / INREV / NCREIF Fund Manager Survey 2018” published by INREV at the end of ...
Wednesday, 20. June 2018

Vonovia hits major hurdle at Victoria Park takeover

The public takeover offer from Vonovia SE to the shareholders of Swedish residential property company Victoria Park AB has been successful. As communicated in a formal announcement earlier today, Vonovia exceeded the minimum acceptance threshold set as condition for closing of the take-over bid for Victoria Park of more than ...
Wednesday, 20. June 2018

Cording Real Estate appoints John Molloy as Senior Project Manager, Construction

Cording Real Estate Group has expanded its private rented sector (PRS) team with a new appointment to cover this rapidly growing segment of the business. John Molloy has joined the London office as a Senior Project Manager, Construction where his responsibilities will include project management of the £40 million (c. €45.6 mi...
Tuesday, 19. June 2018

Orange Capital Partners refinances acquisition debt of multiple residential portfolios

Orange Capital Partners (OCP) has refinanced the acquisition debt secured against multiple residential portfolios in the Netherlands, with approximately 700 units and a total net market value in excess of €135 million. The portfolio is geographically distributed throughout the Randstad with a focus on Amsterdam, Amstelveen an...
Tuesday, 19. June 2018

Infrastructure investment boost expected from global pension and sovereign funds

Up to 70% of global public sector investors plan to increase their infrastructure investments over the next 12-24 months, according to a new survey from BNY Mellon and the Official Monetary and Financial Institutions Forum (OMFIF). The survey covered sovereign and public pension funds with combined assets under management exc...
Tuesday, 19. June 2018

Legal & General adds Chris Sly and Matthew Stubblefield to its team

As it continues to expand within the house building sector, Legal & General appointed Chris Sly as as the new Finance Director and Matthew Stubblefield as the new Health and Safety Officer. Sly will join the company from FTSE100 property developer, Berkeley Homes where he held the position of, Head of Finance for the Wester...
Tuesday, 19. June 2018

Zsar secures investment by Tesi and appoints Simon Cunningham to board

Zsar has received an investement by Finnish Industry Investment Ltd, or Tesi. In addition, the outlet village appointed Simon Cunningham, former COO of Value Retail, as a new member of its Board of Directors. At Value Retail Cunningham was responsible for driving sales of €3 billion in 11 luxury outlet villages located across...
Tuesday, 19. June 2018

GIEAG’s General Meeting resolves a dividend of €0.36 per share

Yesterday the general meeting of GIEAG Immobilien AG approved all of the points on the agenda with majorities of more than 99.5% of votes cast. The items approved include payment of a dividend of €0.36 for fiscal year 2017. Philipp Pferschy, GIEAG’s CEO explained the company’s strategy of developing residential and commercia...
Tuesday, 19. June 2018

Stenprop lists on London Stock Exchange

Stenprop’s shares have been admitted to trading on the Specialist Fund Segment of the London Stock Exchange. Trading in the company’s shares have commenced on the Specialist Fund Segment at 8.00 a.m. London time on 15 June. The company’s shares ceased to trade on the Bermuda Stock Exchange with effect from the close of market...
Tuesday, 19. June 2018

FAP launches Germany-focused Real Estate Debt Funds

With “FAP Balanced Real Estate Financing I” this week a new real estate debt fund is being launched for mezzanine loan financing of portfolio properties, revitalisation projects and project developments in Germany, as well as selectively in the Netherlands and Austria.
Tuesday, 19. June 2018

Tricity’s office supply hits 45,690 sqm in the first quarter of 2018

Following the completion of the 35-floor Olivia Star office building (45,690 sqm, Olivia Business Centre), Tricity’s new office supply hit 45,690 sqm in the first quarter of 2018, according to the “Occupier Economics: Tricity Office Market in Q1 2018” a report published by Cresa. Office take-up amounted to 13,400 sqm.
Tuesday, 19. June 2018

Browne Jacobson appoints three specialist lawyers to its Brimingham team

Browne Jacobson has appointed Zo Hoida, Brian Hession and Natalie Moustache as partners to its Birmingham property team. Hoida will join from the Birmingham office of Weightmans and Hession will switch from Shoosmiths. Moustache has been added to the team from law firm Anthony Collins Solicitors.
Monday, 18. June 2018

Corestate invests €2.4bn in micro-living assets

Corestate Capital Holding S.A. plans to invest a total of €2.4bn in its micro-living segment until the end of 2019. Corestate already acquired 26 plots for development and properties with more than 7,600 apartments for students, commuters, project employees, entrepreneurs and young professionals. The current investment volume...
Monday, 18. June 2018

German non-listed real estate posts ten-year record-high

Non-listed real estate performance has posted a ten-year record-high, with total returns of 4.29% over 2017, up from 2.68% the previous year, according to INREV’s German Vehicles Annual Index 2018. The results were largely due to a very strong performance in the first half of the year, driven especially by income returns of 4...
Monday, 18. June 2018

Peach Property Group places CHF 60 million of 1.75% hybrid warrant bond placed

The Board of Directors of Peach Property Group AG has decided to issue bonds with a total volume of CHF 60 million (€52 million) after having taken note of the final placement result for its 1.75% hybrid warrant bond. Listing for the bonds (cum, ex and option warrants only) on the SIX Swiss Exchange has been applied for and t...
Monday, 18. June 2018

Carter Towler hires Charlie Armour as new valuation surveyor

Carter Towler has appointed a new valuation surveyor to support its expanding Professional Services team. RICS qualified, Charlie Armour began his career with Fleurets in London where he gained extensive experience in the leisure and hospitality sectors.
Friday, 15. June 2018