Finance>> FINANCE 2008 >> FINANCE 2007 >> FINANCE 2006FAP act for developers of Haus Cumberland in BerlinFlatow Advisory Partners (FAP) was appointed by developers Detlef Maruhn and Dirk Germandi as an advisory partner for overall financing, to include the structuring of mezzanine capital. The arrangements allowed the client to use available capital resources for other impending projects in parallel to the project in hand Buy rating for Peach Property Group AGSRC Research, Frankfurt, the bank-independent analysts for financial and real estate stocks has confirmed its Buy rating for the Zurich-based luxury residential developer Peach Property Group AG TAG Immobilien AG expects EBT to reach EUR 75m in 2012After integrating Colonia Real Estate AG and acquiring various other portfolios, the residential real estate inventory now amounts to about 1.9 million sq m, or approximately 30,800 units Silverton Financial Advisors, which specializes in distressed debt investments, has created a US subsidiaryThe Silverton Group, based in Frankfurt, includes PEAK Collection GmbH, a fully licensed loan servicing provider with a strong focus on the work-out of sub- and non-performing loan portfolios IVG’s capital increase raises €145.5mThe proceeds will be used for investment into its profitable caverns business and a further debt reduction YOUNIQ AG publishes Q3 2011 results, EUR 3.49m EBITYOUNIQ AG, the provider of student apartments in Germany, has published its results for the first nine months of 2011. The company generated EUR 25.90 million of total revenue in the reporting period (previous year: EUR 27.43 million) HSH Nordbank arranges EUR 500m variable rate bond for Schleswig-HolsteinHSH Nordbank together with DekaBank and DZ has won the tender to issue a state discount note for the federal state of Schleswig-Holstein with a coupon of 3-month EURIBOR plus ten basis points, repayable on 28 April 2015 Majority shareholders at IMW Immobilien’s AGM reject proposals from van Riemsdijk familyThe meeting approved the company’s results for the business year 2010/2011, in which operating profit amounted to EUR 18.9m, compared with a loss of EUR 15.6m in the previous year IVG extends financing for The Squaire at Frankfurt airportFinancing of EUR 500m extended through the end of 2013 with a new loan agreement for EUR 35m for The Squaire Parking HSH Nordbank denies it is undercapitalisedThe statement made in a Financial Times article of 23 September 2011, suggesting that HSH Nordbank requires recapitalisation, is wrong, according to the bank. With an actual Capital Ratio of 18.0% (as of 30 June) the bank is, even in an international comparison, well capitalised St George Participations SAS and BNP Paribas have until 17 October 2011 to make an offer for DTZOn 11 May 2011, DTZ Holdings plc announced that it had received a number of approaches for investment in the Company's shares (including a possible offer for shares in the Company) Treveria successfully renegotiates EUR 640m of its mortgagesTreveria plc, the London AIM listed asset manager specialising in German retail real estate, has reported an important step in its debt refinancing mfi assumes complete ownership of the Pasing Arcaden in Munichmfi management für immobilien AG, Essen, has acquired the part ownership of Bayerische Landesbank Immobilien-Beteiligungs-Verwaltungsgesellschaft mbH (BayernImmo) in Pasing Arcaden OperaOne AG: capital increase postponedDue to the currently volatile market
environment the management of OperaOne AG, a project developer for high-quality residential properties in Frankfurt, has decided to postpone its previously announced capital increase HAHN-Immobilien-Beteiligungs AG succesfully completes a capital increaseA total of 1,001,430 shares new shares were issued for a price of EUR 5.50 Colonia Real Estate Solutions merges with Larus Asset ManagementThe new company, trading as Polares Real Estate Asset Management, will be Germany's fourth-largest asset manager VIB Vermögen AG has successfully placed capital increase with a volume of 28.4 million EURVIB Vermögen AG, a company specialising in commercial real estate portfolio management, has successfully placed its capital increase GWB - progress with development projectsIn the first three months of the current fiscal year GWB Immobilien AG has concentrated on its development projects: In Speyer the construction work of the POSTGALERIE started and also the development of projects Völklingen, Wolfsburg and Heppenheim has continued to progress IVG presents sustainability reportTo enhance its responsibility to the environment and society, IVG Immobilien AG has now presented its first sustainability report. In future, it will report annually on its goals, measures, activities and progress in the field of corporate sustainability WARIMPEX reports positive First Quarter resultsWarimpex Finanz- und Beteiligungs AG profited nicely in the first quarter of 2011 from the significant increase in business and holiday travel Colonia Real Estate AG announced first-quarter 2011 resultsFor Colonia Real Estate AG, the first quarter was dominated by the acquisition of a controlling majority by TAG Immobilien AG IVG Private Placement "European Headquarters of Hermes Logistics Group"IVG Private Funds has successfully placed the first structured IVG private placement. The basis for this private placement “European Headquarters of Hermes Logistics Group” is the property at Essener Bogen 1 in Hamburg, for which a long-term lease is in place with Hermes Logistik Gruppe Deutschland GmbH (Hermes) Vastned offices/industrial declares 2010 stock dividendIn the context of the 2010 optional dividend, VastNed Offices/Industrial has declared the stock dividend based on the share's non-weighted average closing prices during the option period from May 6, 2011 through May 13, 2011 YOUNIQ AG concludes pre-placement of capital increaseYOUNIQ AG, a market-leading company for student apartments in Germany, has successfully concluded the pre-placement of its capital increase. A total of 3,350,000 new ordinary bearer shares could be placed Deutsche EuroShop reports EUR 33.9 million Consolidated ProfitThe shopping center investor Deutsche EuroShop is expecting a consolidated profit of EUR 33.8 million (2008: EUR 68.9 million) for the fiscal year ended 31 December 2009 Elystan Capital Advisers to invest in distressed German mortgage assetsPrivate equity house GI Partners has backed the launch of Elystan Capital Advisers, a Munich-based investment firm targeting mortgage backed assets and the mortgage banking sector in Germany, Austria and Switzerland. PATRIZIA expands its fund businessPATRIZIA Immobilien AG via its subsidiary PATRIZIA Kapitalanlagegesellschaft mbH (KAG) it is launching a new specialized fund that will comprise fund assets of EUR 300 million following conclusion of the investment phase. pbb Deutsche Pfandbriefbank issues Public Sector Jumbo Pfandbrief amounting to 1 billion Europbb Deutsche Pfandbriefbank successfully issued a further Public Sector Jumbo Pfandbrief amounting to 1 billion Euro. The bank had already placed two Jumbo Pfandbriefs on the public market in September and October 2009 conwert surpasses sales targets in 2009
TAG Immobilien AG has increased its share in Bau-Verein zu Hamburg AGAt the end of 2009, TAG Immobilien AG increased its share in Group member Bau-Verein zu Hamburg AG from 71 percent to approximately 91 percent KWG Kommunale Wohnen AG completes capital increaseKWG Kommunale Wohnen AG has completed its cash capital increase with a gross inflow of funds to the amount of 5.5 million euros. SRC Research confirms VIB Vermögen Buy-rating after recent company newsSRC Research the bank-independent analysts house for Financial and Real Estate stocks today confirms its Buy-recommendation and target for the Bavaria-based commercial property player VIB Vermögen Allianz Real Estate Germany GmbH defies the economic crisisIn spite of the economic crisis Allianz Real Estate Germany GmbH has increased the property it has rented out by 19 percent KWG successfully extends credit line – no refinancing required till mid-2011By successfully extending a credit line for some 5.3 million euros, KWG Kommunale Wohnen AG has structured its loan portfolio so that no further refinancing is required until mid-2011 Commerz Real successfully places closed-end Real Estate FundAfter just a few months, Commerz Real successfully completed the placement of the CFB Fund 173 “E-Plus Unternehmenszentrale, Düsseldorf” despite the difficult market environment. Colonia Real Estate AG released its preliminary resultsThe company can post its third quarterly profit in a row for 2009. At the same time, the company's operations achieved a positive cash flow of 2.0 million Euros in the third quarter before transaction proceeds - for the first time since the outbreak of the financial crisis Berlin Hyp has shown successful business development in the third quarter of 2009Despite the extremely difficult market environment, Berlin Hyp has again achieved a highly satisfactory result and has maintained its successful course: The result before income tax rose by 36.4 percent to 58.8 million Euros, and net income rose by 34.8 percent to 45.3 million Euros GWB Immobilien AG continues to improve earningsGWB Immobilien continued the positive development in earnings achieved in the previous quarter in the third quarter of 2009: sales increased by 3.4 per cent to about EUR 7.8 million in the first nine months of the financial year. alstria refinanced EUR 59 million in two non recourse loansalstria office REIT-AG, an internally managed Real Estate Investment Trust (REIT) reported the completion of two debt financings of around EUR 80 million. EUR 59 million have been used to repay the main syndicated loan. The additional amount of approximately EUR 21 million is a CAPEX line which will be used for the funding of the ongoing redevelopment of one Hamburg property Hypoport AG and OSV establishing a new financial marketplace for savings banksHypoport AG and the Ostdeutscher Sparkassenverband (OSV) association of savings banks are to cooperate more closely in the areas of mortgage finance in future IMMOFINANZ AG: Restated results for the first quarter 2009/10In the course of the preparatory work regarding a potential capital increase the Management Board reviewed the report of the first quarter as of 31 July 2009 and adjusted the net profit of the period in the amount of EUR 35.4 million from EUR 100.9 million to EUR 136.2 million Treveria to return EUR 60.3m to shareholdersTreveria plc, the investment company focused on German retail real estate, intends to distribute 10c per share of capital surplus to current needs. Two of its bank facilities are cash trapped Fair Value REIT-AG has announced that its Managing Board resolved to start a share buy-back programThe Managing Board is thus utilizing the authorization granted by the General Meeting on May 29, 2009 to acquire treasury shares within the meaning of Section 71 (1) No. 8 of the AktG. IVG Protect Fund for institutional investors fully placedThe latest product of IVG Institutional Funds, the IVG Protect Fund – an open-ended, specialised real estate fund for institutional investors with an investment volume of approx. EUR 300 million – has been fully placed ProLogis Closes Two Financings for ProLogis European Properties Fund IIProLogis announced that it has completed two financings, for a total of approximately euro 133 million, on behalf of ProLogis European Properties Fund II (PEPF II). Proceeds from the financings were used to pay down PEPF II's warehouse line of credit Bilfinger Berger AG preparing transformation into a European Company (SE)The Executive Board of Bilfinger Berger AG resolved to pursue the transformation into a European Company (SE). A resolution to this effect will, subject to the approval of the Supervisory Board, be presented to the 2010 Annual General Meeting. Deutsche Pfandbriefbank issues EUR 1.5 billion Jumbo Mortgage PfandbriefDeutsche Pfandbriefbank successfully placed a EUR 1.5 billion Jumbo mortgage Pfandbrief on Tuesday. The Pfandbrief, which marks the bank's first public issue for more than a year, met with very positive market response: the issue was 3 times over-subscribed Hansteen to move to the Official List and convert to REITHansteen Holdings PLC, the AIM-listed European industrial property investor, will move from AIM to the Official List on or around 6 October 2009, subject to receiving the necessary regulatory approvals, and will convert into a REIT once it meets the relevant qualification criteria Orco Property Group publishes management report on the 2009 first-half earningsFirst signs of market recovery are evident in the different cities where Orco Property Group operates although no significant growth is anticipated before mid-2010 VIB Vermögen AG publishes H1 resultsVIB Vermögen AG, a company specializing in real estate asset management, successfully continued its course of growth during the first half of 2009 DIC Asset AG remains profitable during the first half of 2009DIC Asset AG (German Securities ID 509840 / ISIN DE0005098404) presented its interim report for the first half of the 2009 financial year. The Company posted respectable results of EUR 6.1 million in what continued to be a difficult market environment HSH Nordbank saw significant increase in real estate impairment charges in H1 2009HSH Nordbank closed out the first half of 2009 better than planned, with a pre-tax loss of EUR -530m (previous year: EUR 155m) HAHN-Immobilien-Beteiligungs AG reports a EUR 1.78 million lossIn the first half, the Hahn Group generated revenue of Euro 28.31 million (prior year: Euro 29.72 million). Planned reductions in inventories of property held for sale resulted in a significant reduction in rental income ADLER Real Estate AG expects to break evenADLER Real Estate AG (ISIN DE0005008007), Frankfurt, expects to break even in Fiscal Year 2009 on the strength of a few property sales HOCHTIEF rock steady through the crisisFollowing the close of the second quarter of 2009, the company has once again confirmed its Group forecast for the year as a whole - despite an economic environment marked by extreme investor reluctance IVG stable on operating level in Q2 2009Despite the difficult market environment, IVG successfully continued to realign its corporate and financing policies in the first half of 2009 as planned Deutsche EuroShop: First half of FY 2009 according to planRevenue in the first half of 2009 totalled EUR 63.0 million, representing a 14% rise year-on-year (EUR 55.2 million) Fair Value REIT-AG improves H1 resultsFair Value REIT-AG published its H1 results for fiscal year 2009 today. Fair Value recorded a net rental result of EUR 4.0 million (IFRS) after deducting property¬ related operating expenses Colonia Real Estate AG announced a profit of around 6.3 million EurosColonia Real Estate AG announced a profit of around 6.3 million Euros for the first half of 2009. This compares to the loss of 2 million Euros posted in mid-2008. EBIT increased from 5.6 million Euros in the previous year to 16.6 million Euros, while EBITDA rose from 5.8 million Euros to 15.3 million Euros Escada to file for insolvency
Aareal Bank Group reports robust business developmentAareal Bank Group’s robust business development continued into the second quarter of the current year. Against the background of a difficult market environment, the Group once again achieved a satisfactory result, therefore remaining successfully on track Sal. Oppenheim increases equity capitalPrivate bank Sal. Oppenheim jr. & Cie. S.C.A. has announced that it has raised its equity capital by EUR 300m PATRIZIA sees an upturn in the residential property resale businessIn Q2 of 2009, PATRIZIA resold 147 residential units to tenants, owner-occupiers and investors in individual sales. This represents an increase of 33.6 % compared to Q1 2009 KWG Kommunale Wohnen AG reports substantial increase in rental income and EBITKWG Kommunale Wohnen AG, a long-term owner of German residential property, increased its turnover – which consists solely of rental income – from EUR 5.8 million the previous year to EUR 9.5 million in the first half of 2009 ProLogis extends EUR 126m secured loan with Deutsche PfandbriefbankProLogis European Properties and Deutsche Pfandbriefbank (formerly Hypo Real Estate) have finalised a three-year extension of the secured loan, originally due to mature in March 2010 HRE makes pre-tax loss of EUR -1.07bn in H1 2009 (2008: EUR 207m)For the second quarter of 2009, Hypo Real Estate Group, the recently nationalised real estate bank, has reported a consolidated pre-tax loss of € -664 million (Q2/2008: € 17 million). The net loss amounted to € -750 million (Q2/2008: € 12 million) Boetzelen Real Estate AG to change its nameThe board of the Cologne based CMBS issuer has announced that as part of a cost-cutting exercise it will seek shareholder approval to change its status from AG to GmbH, and to be known in future as DEIKON GmbH Polis Immobilien defies the crisisPolis Immobilien AG boosted its rental income by 4 percent to EUR 7.4m in the first half of 2009 (previous year: EUR 7.1m). The office property specialist was also able to increase its income from property management from EUR 6.0m to EUR 6.3m in spite of the challenges in the German property market HypoVereinsbank Group reports strong operating profit in the first half of 2009In a still difficult market environment overall in the first half of 2009, HVB Group generated a very strong operating profit of EUR 1,692 million, up by around EUR 1 billion or a factor of 1.5 year-on-year Corealcredit Bank AG reports positive result in the first half of 2009In the first half of 2009 Corealcredit Bank AG performed according to plan and, despite a difficult market environment and consequently increased risk provisions for potential future risks, posted a net profit of EUR 1.3m. The bank has consolidated its position in the market for real estate financing and acquired new business amounting to EUR 520.3m in the first half of 2009 METRO Group continues to focus on expansionMETRO Group reported a sound development during the first half year 2009 despite the global economic crisis and continues to focus on expansion. Group sales reached EUR 30.5 billion Hansteen to raise £200.8m by placing and open offerHansteen Holdings plc, the AIM listed investor in European industrial real estate, has announced that it intends to issue 267,768,451 New Ordinary Shares to allow it to take advantage of exceptional opportunities to buy industrial properties in the UK conwert reports strong operating development in Q1 2009conwert Immobilien (Real Estate) Invest SE, a leading Central European residential property company
listed on the Vienna Stock Exchange, has reported that earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by 15% to EUR 26.93m SRC Research gives Warimpex “Accumulate” ratingWarimpex, the Vienna-based central European hotel real estate specialist, has a portfolio of 19 hotels with two new openings in the coming months. The focus is the Czech Republic and Poland, but there are already two hotels in Germany and two in France Hanseatic Group will not participate as new investor in GWB Immobilien AGThe management board of GWB Immobilien AG has been informed by the management board of Hanseatic Holding AG that its supervisory board did not approve on the execution of the contracts concluded in May 2009 pertaining to the investment of Hanseatic Group with GWB Immobilien AG alstria is to pay out a dividend of 52 cents per sharealstria office REIT-AG Hamburg-based internally managed Real Estate Investment Trust (REIT) solely focused on acquiring, owning and managing office real estate in Germany uses its net income for the fiscal year 2008, amounting to EUR 28.5 million, to pay out a dividend of EUR 0.52 per share Colonia Real Estate AG reports conversion of over 96 percent of stock optionsThe stock options (WKN A0CVEU) issued in 2004 of Colonia Real Estate AG (ISIN DE0006338007) were converted into new shares of the company, with an exercise rate of 96.4 percent Hansteen continues to see resilience in GermanyHansteen Holdings plc, London, the AIM listed investor in European industrial real estate, has reduced its void rate and increased its rent roll during the period from 31 December 2008 to 15 May 2009 FranconoRheinMain AG Q1 2009 revenue slightly higher than Q1 2008FranconoRheinMain AG, a portfolio holder specialised in residential property in Southwest Germany, generated in the first quarter of 2009 rental income of EUR 2.9 million TAG reports 81% increase in Q1 2009 revenues to EUR 33.5mWith a post-tax loss of EUR 0.2m (Q1/08: post-tax profit of EUR 2.1m), TAG Immobilien AG, Hamburg came close to breaking even Bau-Verein reports threefold increase in revenues in Q1 2009Against the backdrop of the difficult economic conditions in the first quarter of 2009, Bau-Verein zu Hamburg AG managed to improve its revenues and earnings substantially compared with the previous year Colonia Real Estate reports positive Q1 figuresColonia Real Estate AG posted a profit of EUR 7.7m for the first quarter of 2009 (Q1 2008: EUR -10.1m) with an increase in rental income and strongly reduced costs GAGFAH S.A. announced its financial results for the first quarter of 2009William Joseph Brennan, CEO of GAGFAH GROUP: "We had a solid start to the year 2009. The steady performance of our business reflects the stability of our diversified residential portfolio in Germany KWG in 2008: Strong turnover growth, continued profitabilityKWG Kommunale Wohnen AG, a property company that holds a portfolio of apartments in Germany with a view to long-term ownership, completed the business year 2008 with clear, profitable growth, and pushed ahead with the expansion of its portfolio Aareal Bank Group remains profitable in the first quarter of 2009Aareal Bank Group successfully held its course during the first quarter of 2009, in a market environment that continued to be challenging. In spite of the ongoing crisis affecting financial markets and the economy, the international property specialist continued to be profitable during the first three months of the year – once again, this applies to both the Structured Property Financing and the Consulting/Services segments Free-float adjustment for Hypo Real EstateFollowing the expiry of the term of acceptance of the takeover bid for Hypo Real Estate Holding AG by the German federal government, the free float will be reduced from the current 87.67% to 46.6% EUROPACE attracts new product providersFollowing a weak start to the year that was burdened by a more restrictive approach to loan approvals and increases in the terms and conditions offered by existing lenders, Berlin-based financial services provider Hypoport has been able to attract new product providers and managed to record a year-on-year increase in the volume of transactions processed on the EUROPACE platform in March Deutsche EuroShop confirms forecast after a successful FY 2008At its annual earnings press conference in Hamburg shopping center investor Deutsche EuroShop AG presented its results for the past financial year. The Company exceeded its own revenue and earnings forecasts Change of majority shareholder at informica real invest AGAbsolute Capital Management, Grand Cayman and its funds now do not own more than 25% of the company, and a majority of the shares are held by DYVA Holding Limited, Switzerland GWB Immobilien AG reports portfolio volume growth to EUR 144 millionGWB Immobilien AG is continuing to develop in spite of the severe financial and property crisis, with sales growth of 42.9 per cent and positive annual earnings. There has been further growth in the company's property portfolio, which has reached a volume of EUR 144.3 million in the meantime FranconoWest AG: Real estate portfolio expanded furtherFranconoWest AG (ISIN: AOKFRM), a real estate company specialising in residential real estate in North Rhine-Westphalia expanded its real estate portfolio further in 2008 InCity Immobilien AG maintains strong growthInCity Immobilien AG, a group of companies specialised in planning and realising high quality properties in central urban locations, has published its preliminary figures for the financial year 2008 IVG's operational business stable in 2008 despite negative market value changesAccording to preliminary, unaudited figures, 2008 was a year of both negative and positive developments for IVG Immobilien AG. ProLogis European Properties repays EUR 335.9m of CMBS debtProLogis European Properties, Luxembourg, Europe’s largest owner of modern warehouse distribution facilities, has announced that it will repay the debt 5 April 2009, three months earlier than contractually required Hypoport sells its ABS business unitThe sale of the subsidiary company marks the successful closure of Hypoport AG's Europace business division for Asset Backed Securities investors Hypoport continues to growHypoport AG, the Berlin based internet all-round financial services provider, expects revenues to have continued growing at a rate well into the double-digit percentage range in the fourth quarter 2008 Fair Value REIT-AG publishes preliminary results for 2008Fair Value REIT-AG recorded consolidated operating results of € 5.9 million in fiscal year 2008 according to preliminary figures TAG Immobilien AG sustained a post-tax loss of EUR 32 million in 2008TAG Immobilien AG sustained a post-tax loss of EUR 32 million in 2008 despite increased rental income. This was due to impairments necessitated by fair-value accounting and associated companies Benson Elliot raises over EUR 500m for second fund to target distressed property assetsBenson Elliot Capital Management, the London based European private equity real estate firm, has closed its second pan-European fund, Benson Elliot Real Estate Partners III (BEREP III), with subscribed capital to date of EUR 510m, against a target of EUR 500m Eurohypo announces a loss of EUR 1.4 billionEurohypo's performance in 2008 was heavily influenced by the global crisis in the financial markets. According to preliminary figures not yet audited, Eurohypo had a pre-tax loss amounting to EUR 1.4 billion for the full year 2008 (2007: EUR +588 million) Aareal Bank asks the state for EUR 525mDespite solid results for the financial year and the fourth quarter of 2008, the bank has strengthened its capital base through a EUR 525m silent participation by SoFFin, and a guarantee facility for new issues with a maximum maturity of three years and a total volume of up to EUR 4bn Rising STAR co-operates with QuilvestSwiss hedge fund manager Rising STAR AG, based in Bottighofen, has secured a US$50m tranche in a US$300m Real Estate Opportunity Fund of Funds created by Quilvest, the world’s third largest family office alstria renegotiated its debt covenants and confirms LTV at year end below 60%alstria office REIT-AG, an internally managed Real Estate Investment Trust (REIT) which is solely focused on acquiring, owning and managing office real estate in Germany, has successfully amended its main corporate loan facility agreement increasing its LTV covenant from 60% to 65% and decreasing its Interest Cover Ratio covenant from 160% to 130% ESTAVIS reports half-year loss of EUR 5mIn H1 2008/2009 Estavis AG, Berlin recorded a net loss from continued operations of EUR 5.0m (previous year: EUR 3.3m), while the earnings per share from continued operations totalled EUR -0.56 (previous year: EUR 0.42) SoFFin extends framework guarantee to Hypo Real Estate Group by EUR10 billionThe German Financial Markets Stabilisation Fund ("SoFFin") has granted an additional EUR10 billion framework guarantee, expiring on 12 June 2009, to Hypo Real Estate Group, bringing the aggregate volume of the SoFFin framework guarantees to EUR52 billion Deutsche EuroShop: More than 20 % operational growth in 2008Deutsche EuroShop is expecting a consolidated profit of more than EUR68.7 million (2007: EUR94.2 million) for the fiscal year ended 31 December 2008 HCI Capital AG records around EUR 600 million in equity placements during 2008HCI Capital AG, one of the leading issuing houses for closed-end funds, reported equity placements with retail investors of EUR 598.6 during the 2008 financial year PATRIZIA concludes the fourth quarter of 2008 with satisfying resale figuresDespite the difficult market environment, PATRIZIA Immobilien AG posted satisfactory figures in the fourth quarter of 2008 AIG Global Real Estate puts investment management business up for saleAmerican International Group, rescued from bankruptcy last November by the US Treasury, is to sell its real estate investment management business as part of a divestment programme Speymill Deutsche Immobilien continues to operate as normal following suspension of Speymill plc’s sharesThe Board of Speymill Deutsche Immobilien Company plc (SDIC), an investment company registered in the Isle of Man and listed on the AIM which specialises in residential property in Germany, has been assured by the company’s Manager that the company's Manager, Adviser and Investment Advisor continue to operate as normal DEGI International ends suspension of redemptionsEffective 30 January 2009 (from 07:00 am), DEGI, part of Aberdeen Property Investors, will end the suspension of redemptions for its DEGI International fund, which has been in effect since the end October 2008 German Financial Markets Stabilisation Fund extends the framework guarantee for Hypo Real Estate GroupThe German Financial Markets Stabilisation Fund ("SoFFin") has extended its framework guarantee granted to Hypo Real Estate Group by an additional EUR 12 billion, bringing the aggregate guarantee amount to EUR 42 billion IVG Funds consolidates market leadership in the institutional funds businessIn the course of the year, the IVG Funds Division of IVG Immobilien AG has significantly improved its position in the German market in its business with institutional customers (e.g. insurance companies, pension funds) and has thus consolidated its position as the market leader Dawnay, Day Treveria PLC changes its name to Treveria plcThe board of Dawnay, Day Treveria PLC has announced that the registration process at the Isle of Man Financial Supervision Commission has been completed, the change of name certificate has been issued and the Company's name is now Treveria plc Immofinanz AG recorded high losses in the first half of the 2008/09 business yearThis is a result of downward revaluation of the real estate portfolio and writedowns as the result of a halt to development projects ProLogis European Properties to sell two-thirds of its current and future commitment in ProLogis European Properties Fund IIProLogis European Properties, announced today it has signed a purchase agreement with ProLogis for the sale of two-thirds of its current and future commitment to ProLogis European Properties Fund II (PEPF II) for approximately EUR 43 million, saving PEPR EUR 348 million of future equity commitments to PEPF II and implies an approximate 30% discount to existing NAV and future funding obligations Eurex to launch Europe's first property futures in early FebruaryThe international derivatives exchange Eurex plans to launch Europe's first property futures on 9 February 2009. The futures will be annual contracts based on the total returns of Investment Property Databank's IPD® UK Annual All Property Index for individual calendar years HSH Nordbank to spin off non-core activitiesCore business units Corporate Clients, Private Banking, Savings Banks and Real Estate will in the future have an even greater focus on North Germany and domestic clients Hahn places Pluswert Fund 145
ADLER Real Estate acquires stake in DB ImmobilienADLER Real Estate AG, Frankfurt, will acquire a stake in DB Immobilien GmbH, Heidelberg, one of the leading real estate brokerage companies in Germany, in two stages Colonia Real Estate AG continues its restructuring measuresColonia Real Estate AG (ISIN: DE0006338007) is divesting itself of several lines of business as it continues to sharpen its operational focus. Additionally, subsidiaries are being merged in order to streamline the corporate structure. These measures are expected to generate savings of over EUR 1.2 million per year Colonia Real Estate AG signs termination agreement with MVK Treuhand GmbHColonia Real Estate AG (ISIN: DE0006338007) renounces their buying option of 10 percent on the Systaic AG. As the strike price of 6.95 Euro is significantly higher than the current share price, any execution of the option right would be senseless anyway IMW reports a H1 net loss of EUR 61.6mIMW Immobilien AG, Berlin reported that rental income improved slightly to EUR 29.0m (prior year: EUR 28.9m), and funds from operations to EUR 16.4m (prior year: EUR 15.0m) Conwert publishes 9 month resultsconwert Immobilien Invest SE recorded sound operational development for the first nine months of 2008 in an environment made challenging by the liquidity and financial crisis IMW Immobilien AG, Berlin postpones annual general meetingThe management board of IMW Immobilien AG, Berlin, has decided to postpone the AGM, which was scheduled for 25 November 2008, to a date in mid February 2009 GAGFAH S.A. announces its financial results for the first nine months of 2008Burkhard Ulrich Drescher, CEO of GAGFAH S.A.'s German subsidiaries, commented: "GAGFAH continues to execute on its business model of providing stable and growing cash flows from a diversified portfolio of residential housing units in Germany SoFFin grants EUR 20 billion framework guarantee to Hypo Real Estate GroupThe German Financial Markets Stabilisation Fund ("SoFFin") has granted a EUR 20 billion framework guarantee to Hypo Real Estate Group, to strengthen the Group's liquidity HSH Nordbank receives guarantees from SoFFinHSH Nordbank will have access to governmental guarantees from SoFFin, the German financial market stabilisation fund, of up to EUR 30 billion. This was agreed by SoFFin and HSH Nordbank on Friday 21st November alstria office REIT-AG publishes its Financial Results for the first nine months of 2008alstria office REIT-AG (symbol: AOX, ISIN: DE000A0LD2U1), an internally managed Real Estate Investment Trust (REIT) which is solely focused on acquiring, owning and managing office real estate in Germany, today reports its financial results for the first nine months of 2008 Sparkassen Immobilien AG: revenues and rental income in third quarter 2008 upDespite continuing turmoil in world finance and capital markets, Vienna stock exchange listed Sparkassen Immobilien AG reports a stable business performance in the first nine months of 2008 Hypo Real Estate reports quarterly pre-tax loss of EUR 3.105bnThe quarterly loss is mainly attributable to the writeoff of goodwill and other intangible assets attributable to the initial consolidation of DEPFA Bank Plc (EUR 2.482b) ESTAVIS makes a loss in 2007/2008, and cancels dividendOutlook for 2008/2009 is for sales growth and a positive earnings figure, as apartment sales are relatively autonomous from developments on the international financial markets IVG's year-to-date earnings reflect charges from real estate marketsThe development in the financial markets and its impact on the European real estate markets have affected IVG’s year-to-date earnings in 2008. Total Income has decreased and earnings have substantially declined, in particular due to non-cash charges from the appraisal of properties Hypoport AG boosts turnover. Q3 resultsThe third quarter marked a new record for Hypoport AG when the transaction volume of its EUROPACE platform reached Euro 3.767 billion, equivalent to a percentage increase of more than 20% compared with the same quarter last year. Overall, mortgage financing transactions worth Euro 3.466 billion and private loans of Euro 0.301 billion were processed DIC Asset AG braves the crisis, posting sound consolidated net income of EUR 18.5 millionDIC Asset AG presented its interim report for the nine months of the 2008 financial year Hahn Group reports 87% increase in sales revenues to EUR 51.6m in first nine monthsHahn-Immobilien-Beteiligungs AG, Bergisch Gladbach, reported the successful placement of its German Retail Fund, and the transfer of a secured pipeline of seven properties with a total value of EUR 160m Patrizia generates earnings before tax of EUR 9.2 millionPatrizia Immobilien AG notarized 440 residential and commercial units in the form of individual and block sales to private and institutional investors in Q3 GWB portolio volume increases to EUR 131m in Q3 2008GWB Immobilien AG, Hamburg reported growth in rental income of 41.3% from EUR 4.6m to EUR 6.5m VIVACON AG places AAA-securitization of ground leases in the amount of EUR 90mVivacon AG (ISIN 000604 8911) via special purpose vehicles has placed a third securitization of ground lease cash flows from its inventory. The total transaction volume amounts to EUR 90m and the securitized ground lease cash flows to EUR 4.29m p.a. Morgan Stanley P2 Value temporarily suspends unit redemptionsMorgan Stanley Real Estate Investment GmbH today announced that is has suspended unit redemptions with immediate effect in its P2 Value Fund (“the Fund”), a German open-ended property fund Colonia Real Estate refinances more than EUR 30m through debt buybackColonia Real Estate AG’s refinancing needs in the next three years are now below 5% of total outstanding debt, and the residential portfolio is fully financed with an average interest of 4.8% and a 6.7 year maturity Dawnay, Day Treveria PLC interim results to 30 June 2008 - NAV per share down 19%The overall downward valuation movement was about 6%. A contract to purchase a shopping centre in Cottbus for EUR 75.5m has been terminated CORESTATE Fund holds roughly 96 % stake in ALTA FIDESBy the end of the subscription period for the public mandatory offer which ended at midnight on October 7, 2008 GOETHE INVESTMENTS S.à r.l., a CORESTATE subsidiary, and its affiliates held a total of 95.94 percent of ALTA FIDES' shares Hypoport processes record volume Q3Hypoport AG generated a new record volume of transactions worth EUR3.767bn in the third quarter of this year, an increase of more than 20% compared with the same quarter of 2007 DIC commences share buyback programmeDIC Asset AG, Frankfurt will buy back own shares amounting to up to 5 percent of its share capital, via the stock market. The share buyback is limited to 10 February 2009 CBRE forms Pan-European property and asset management serviceThe initiative aligns the property management services CBRE already provides in individual countries across the region, and aims to provide consistent, accountable and transparent services across Europe, with access to both local and international experts Hypo Real Estate Group has secured major new funding facilityA consortium from the German financial sector has provided Hypo Real Estate Holding AG, together with its subsidiaries DEPFA Bank Plc, Hypo Real Estate Bank AG, Hypo Real Estate Bank International AG and DEPFA Deutsche Pfandbriefbank AG with a multi-billion Euro short-term and mid-term credit facility sufficient to cover the Group’s funding needs well into the future.
IMMOFINANZ reports EUR 119.4m loss for Q1 2008/09IMMOFINANZ AG, Vienna, one of the leading quoted property companies active in central Europe, improved its operating result but the group was impacted by devaluation of its subsidiary IMMOEAST’s real estate portfolio SEB ImmoPortfolio Target Return Fund wins IPD EuroProperty AwardSEB Asset Management, Frankfurt has been awarded the IPD EuroProperty Award for excellent investment performance compared with its peer group in Germany Helaba finances EUR 125m portfolio for Prime Office GermanyPrime Office Germany AS, a Norwegian investment company which undertakes real estate investments in Germany, has re-financed two buildings still to be constructed and three others already in its portfolio, with a total lettable floor space of about 36,000 sq m, in Hamburg, Munich, Frankfurt and Berlin Hypo Real Estate Bank AG to provide € 241 million for portfolio financing of OaktreeHypo Real Estate Bank AG, a member of the Hypo Real Estate Group, is to provide € 241 million for financing a senior tranche of the Herkules portfolio within the framework of a syndication IC Immobilien Holding reports mid-year lossIC Immobilien Holding AG, based in Unterschleissheim near Munich, increased its turnover to EUR 9.716m during H1 2008 (2007: EUR 9.533m). The results was burdened however by another downward adjustment of the interest the company holds in Fair Value REIT-AG Hahn Group makes loss of EUR -2.18m in H1 2008The Group still expects to show a profit in 2008, despite an after-tax loss of EUR -2.18m for H1 2008, compared to a profit of EUR 1.76m last year. Earnings per share were EUR -0.18 (EUR +0.15) in the first half AXA Immoselect pays out EUR 1.80 per shareAXA Investment Manager’s open-ended property fund Immoselect has finished its sixth year with an increase in value of 5,12% and a distribution of EUR 117m (previous year: EUR 70m) Deutsche EuroShop profit up 60% in H1Revenue during the first six months of 2008 totalled EUR 55.2m, representing a 21% rise year-on-year (EUR 45.6m). Galeria Baltycka in Gdansk and Stadt-Galerie Hameln, which opened in October 2007 and March 2008 respectively, contributed significantly
to this revenue increase DIC Asset profit down 8% in H1DIC Asset AG, presenting its interim report for the first half of the 2008 financial year, reported a stable return, in a market environment that remains challenging. The weak investment market requires an update of profit guidance Bilfinger Berger published Interim Report for Q2 2008Bilfinger Berger will once again increase earnings in full-year 2008. The reported earnings charge in Civil is countered by strong growth in the earnings contribution from the Services segment HSH Nordbank, NIBC, and Nord LB underwrite EUR 377m portfolio transaction for SpeymillThe credit line serves the purpose of setting up a real estate portfolio spread throughout Germany. The portfolio, consisting of 90 % residential property, shows a 10 % vacancy rate and is 70 % located in the formerly West German states GWB Immobilien forms joint venture with HSH Real EstateGWB Immobilien AG, based in Siek near Hamburg, and HSH Real Estate AG have established a EUR 100m joint project company with a focus on the revitalisation of retail property. GWB will be assuming responsibility for managing the new company, which is based in Hamburg CORESTATE acquires majority interest in ALTA FIDES
Managing Boards of VIB Vermögen AG and BBI Bürgerliches Brauhaus Immobilien AG sign profit and loss transfer agreementVIB Vermögen AG, a company specializing in the portfolio management of commercial properties, signed a profit and loss transfer agreement with the Managing Board of BBI Bürgerliches Brauhaus Immobilien AG Hypo Real Estate Bank AG provides finance of € 500 million for WhitehallHypo Real Estate Bank AG, a member of the Hypo Real Estate Group, is providing finance of € 500 million for Whitehall Street Global Real Estate Funds (Whitehall) within the senior tranche. Whitehall used this in 2007 to acquire a mixed real estate portfolio of DEGI Colonia and HGA Capital issue closed-end nursing home investment fund for private investorsColonia Fonds Management GmbH, a subsidiary of Colonia Real Estate AG, Cologne is to float jointly with the Hamburg issuing house HGA Capital, a subsidiary of HSH Real Estate AG, a EUR 34.7m closed-end nursing home investment fund for private investors. The fund, which plans a 6% return, is expected to start selling in June 2008 | Search:
|
conwert Immobilien Invest SE, listed on the Vienna Stock Exchange, sold properties totalling more than EUR 350 million in the 2009 financial year based on preliminary figures
Escada, the Munich based luxury women’s wear manufacturer and retailer, has become the latest classic German brand to follow Märklin, Rosenthal, Junghans and others into insolvency
Hahn Group, Bergisch Gladbach, has completed the placement of its new EUR 24m fund within seven weeks, reporting strong demand despite difficult capital markets
CORESTATE German Residential Limited, a fund managed by the private equity investor and asset manager CORESTATE Capital AG, has acquired a further 61.3% interest in ALTA FIDES Aktiengesellschaft für Grundvermögen, Stuttgart and holds now a qualified majority of 75.5% in the company
Forum | Blog | Twitter | Media | RSS | Terms and Conditions | Privacy Policy | Disclaimer | Imprint