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Economy & Financial

Branicks finishes negotiations with creditors

Branicks has got green light for the restructuring plan from the lenders of the € 225 million promissory note loans maturing in 2024. In doing so, the promissory note loans in question are extended to June 30, 2025.
Tuesday, 26. March 2024

M Core launches platform for Romanian portfolio

M Core launches ‘Square 7 part of M Core’, a strategic joint venture between M Core and Square 7 Properties, to establish a new management platform for the portfolio of 25 retail parks across Romania. Co-CEOs of M Core Romania, Sebastian Macdonald-Hall and James Fife led the initiative with Clemens Petschnikar of Square 7 Pro...
Tuesday, 26. March 2024

Lonneke Löwik to step down as Inrev CEO

Inrev CEO Lonneke Löwik will be stepping down this August. The Inrev Management Board has instructed international search firm, Egon Zhender, to begin the process of finding a suitable replacement for Löwik. This process is expected to last for several months, but Löwik will remain in post until her departure.
Tuesday, 26. March 2024

Alma strengthens teams in Finland and Denmark

Alma Property Partners has hired Nicolas Karkkolainen and Antti Salonen for the Finnish real estate investment team in Helsinki and Gustav Bachmann for the Danish real estate investment team in Copenhagen. The three new hires bring Alma's investment and asset management team to twelve members.
Tuesday, 26. March 2024

Real investment volume in Czechia could grow up to 22%

According to Savills research, Q1 2024 real estate investment volumes in the Czech Republic are forecast to reach approximately €350 million and European real estate investment volumes approx. €34 billion. Savills forecasts that year end investment volumes for the Czech Republic will exceed €1.5 billion and for Europe €177-18...
Tuesday, 26. March 2024

Aareal AGM to include squeeze-out resolution

Aareal Bank AG has invited shareholders to its ordinary Annual General Meeting, which will be held on 3 May 2024 as a virtual meeting. A key item on the agenda will be the passing of a resolution on a squeeze-out of minority shareholders. The main shareholder, Atlantic BidCo GmbH, has further specified its transfer request an...
Tuesday, 26. March 2024

S Immo increases in key earning figures

The S Immo AG noted a significant increase in key earning figures in 2023. The rental income increased by more than 30%, mainly due to the acquisition of high-yielding properties. Income from hotel operations improved year-on-year to €70.0m (2022: 56.4m). The sales volume totalled €682.4m (2022: 49.2m) and mainly related to G...
Tuesday, 26. March 2024

Chancerygate continues European expansion in Dublin

Chancerygate has opened an office in Dublin and appointed a development director for Ireland as the urban logistics property developer and asset manager continues its European expansion. Ed Dobbs joins from Hammerson where he was most recently development director for its Irish business.
Tuesday, 26. March 2024

Mount Street promotes Serenity Morley to Global COO

Mount Street Group promotes Serenity Morley to the newly created role of Global Chief Operating Officer. In her new role, Serenity will be instrumental in ensuring continuity and cohesion across the firm on a global level, strengthening Mount Street's international offering using its proprietary technology, CreditHub.
Monday, 25. March 2024

Panattoni and Commercecon support Centaurus Foundation

Panattoni BTS has supported the Centaurus Foundation for many years. Over the 16 years since its establishment, the charity has given a second chance to over 3,000 horses, 1,000 dogs as well as hundreds of cats and other creatures. As part of its support, the developer invited general contractor Commercecon to help out and th...
Friday, 22. March 2024

Rana Ghorayeb joins CDPQ as Head of Real Estate

CDPQ today announced the appointment of Rana Ghorayeb as Executive Vice-President and Head of Real Estate. In her new role, she will be responsible for leading the overall Ivanhoé Cambridge portfolio and investment team, which has assets of over $77 billion.
Friday, 22. March 2024

Bouwinvest raises €520 million in new commitments in 2023

In 2023, investors committed €520 million of capital to Bouwinvest's Dutch strategies. This is split between €120 million for investments in the Residential Fund, Retail Fund, and Office Fund, and €400 million for the new Impact Partnership. At the same time, Bouwinvest made €288 million in real estate acquisitions and €215 m...
Thursday, 21. March 2024