Nikolai Dëus-von Homeyer, former director at Swiss investor Corestate, has launched new property company NAS Invest and plans to deploy some €100m in project developments and existing buildings in Berlin and northern Germany over the next two to three years.
New NAS Invest with €100m for Berlin, north Germany
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French SCPI capitalisation tops €30bn for first time
Capital in French SCPI real estate funds rose to €31.34bn at end-June, topping €30bn for the first time. The funds have grown steadily over the past 15 years from under €8bn in 1999, and expanded 4.6% in the first half.
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Dutch Wereldhave exits Spain with €100m sale to SOCIMI
Amsterdam-based REIT/FBI Wereldhave has sold its entire Spanish portfolio, all offices and centred around Madrid, for nearly €100m, reflecting a return of 4%, to Axia Real Estate, a REIT/SOCIMI that listed in July.
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SEGRO's SELP raises €208m finance from German lenders
British warehouse owner and developer SEGRO has raised €208m in new finance from German lenders for its €1.6bn European logistics venture alongside pension asset manager Canada Public Pension Investment Board.
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US Blackstone to buy Frankfurt tower, eyes second
Giant global wealtlh manager Blackstone has agreed to aquire the Pollux office tower in Frankfurt from German IVG, and is in talks to buy the nearby Messeturm from managers GLL and KanAm, local media report.
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Immofinanz offers €375m bonds convertible into BUWOG
Austrian listed Immofinanz is offering €375m of bonds at 1.5%, convertible into shares of its BUWOG affiliate. The firm plans to use proceeds to repay existing debt, for portfolio investment and opportunistic acquisitions.
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German DIC places €125m 5yr bond at 4.6% within hours
German listed DIC Asset on Tuesday placed a €125m five-year corporate bond with a coupon of 4.625% within five hours of announcement due to strong demand,. Proceeds will be used to repay existing debt.
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BAML places first French CMBS since 2007 - on Coeur Defense
Bank of America Merrill Lynch has sold €410m of CMBS backed by loans to Lone Star to acquire Coeur Défense in Paris. The issue is the first backed by French real estate since 2007, when Lehman Brothers sold bonds - to finance its record €2.1bn purchase of the same building.
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French Fonciere des Regions places 7yr €500m bond at 1.75%
French REIT/SIIC Fonciere des Régions has placed a €500m 7yr bond at 1.75%, the lowest-ever coupon for a BBB-rating, and matching fellow French REIT Gecina's €500m issue in July. Its cost of money was a topic among delegates at PIE/DTZ's Asia Capital Club on Thursday.
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CRE investment into Europe second-tier surges - BNPP RE
Investment in second-tier European property markets leapt 76% to €12.8bn in the first half while foreign investment almost doubled to its highest share ever, realtor BNP Paribas Real Estate says. It sees all Tier 2 countries with positive GDP growth in 2014.
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French LFPI to expand in Germany, Austria via Vienna unit
French private equity group LFPI plans, via its Vienna-based fund manager FLE, to expand German and Austrian holdings to €600m from €410m through the end of 2015, FLE MD Alexander Klafsky says. The firm has just acquired an office building in Heidelberg. No price details were given.
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Warsaw still undersupplied in malls, several starting in 2H - JLL
Despite being the largest retail market in Poland with 1.1m sq.m. shopping centre stock, Warsaw metropolitan area still has one of the lowest mall density ratios in the country, says realtor JLL. Several new projects will start in second half, with focus on the city centre.
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German DI, ZBI to launch €200m resi fund
Hamburg’s Special Fund issuing house Deutsche Investment and Erlangen-based residential specialist ZBI plan to launch a second residential fund, with a full target volume of €200m and 5.5% IRR over 10 years. Focus will be Berlin and north German cities.
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LBO France, Maple Knoll buy Paris office portfolio
French private equity firm LBO France and London peer Maple Knoll Capital have bought four office buildings on the outskirts of Paris, the UK firm’s first foray into France. The deal involved a defaulted securitisation, Maple Knoll CEO Phillip Burns told PIE.
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UK investment housing outperforms at 14.7% - IPD
Commercially-held UK residential property returned 14.7% in 2013, higher than any other major European or North American market as growing rentals and a housing shortage boosted returns, says analytics and data group IPD.
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BNP Paribas RE double-digit 1H earnings growth - Laroue-Pont
BNP Paribas Real Estate posted double-digit earnings growth in first half, and the Paris-based international realtor has major plans for further expansion of development and transaction activity, says new CEO Thierry Laroue-Pont.
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Italy, eyeing France, Spain success, reforms REIT/SIIQ regime
A new Italian decree 'Unblock Italy' aims to modify its real estate investment trust (SIIQ) regime to encourage more company creation. The move tracks the French SIIC framework but has also been prompted by the success of Spanish SOCOMIs this year.
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Asian focus on London means other 'gateways' must try harder - blog
Asian real estate investors are still focused on London, and Chinese in particular see the British capital as the only real 'gateway city' in Europe, PIE and DTZ's Asia Capital Club on Thursday showed. Other European cities and regions need to demonstrate that Europe is not America and that they too are gateways to national and regional markets offering good value, writes PIE Managing Editor Allan Saunderson in a blog.
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Kazakhstan hotel revs pressured as supply outstrips demand - JLL
Investors are still keen to develop hotels in Kazakhstan's former capital Almaty but saturation may be just around the corner and, in the new capital Astana, supply will be far ahead of demand for several years, realtor JLL says.
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German luxury hotel project sets crowdfunding record
A five-star resort planned on the Baltic coast north of Hamburg has set a new European record for real estate crowdfunding, to date raising €4.2m from over 900 investors for expansion, says crowdfunding platform Companisto.
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