RealtyBizNews: Real Estate News
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Commercial real estate services firm CBRE has just released data that paints a bleak picture for commercial properties in Europe, Poland and Russia being the two exceptions. The company’s latest report shows a 35% decrease in overall commercial real estate investment across Central Eastern Europe in 2012, with only 7.4 billion euros in total investments in this region.
San Diego based Westcore Properties has recently closed a deal to acquire a collection of Sacramento’s industrial real estate. The purchase, valued at $600 million, includes 110 buildings amounting to 11 million square feet of space, a property portfolio put together by local developer Joe Benvenuti.
The past 20 years have brought a skyrocketing increase in the share of assets community banks allot to commercial real estate loans, as shown by a recent study b the Federal Deposit Insurance Corporation. Commercial real estate loans amounted to about 27% of all assets held by community banks last year, a 7% jump from the 2007 share and almost double the level of the 1990 percentage of 14.5%.
TREI Real Estate GmbH, a real estate subsidiary of the Germany-based Tengelman Group, has announced opening two new specialty retail centers under the “VENDO Park” name. The two new additions are located in Bánovce, Slovakia, and Jablonec, the Czech Republic.
Azerbaijan has just made a $286 purchase in Europe, a London office block which is their first property bought in Europe. The building of a little under 190,000 square feet has been purchased by Azerbaijan’s state oil fund, valued at $33 billion.
CapMan Real Estate and CCP III, a fund advised by Tristan Capital Partners, have formed a joint venture that subsequently bought the PFizer AB headquarters in the Greater Stockholm area. This sale and leaseback transaction valued at SEK 166 million landed the fresh joint venture the Malten 1 building in Sollentuna.
Christopher Dray of Moody Rambin’s Investment Services Group recently represented Commonplace, LLC in the sale of 2301 Yale Street. The 22,856 square-foot lot was purchased by Soho Homes, Inc.
The majority of European commercial property loans that were part of secularization deals structured before the subprime crisis and which have since reached maturity in 2012 remain unpaid. Data from Fitch Ratings shows that the over 70% unpaid loans are the result of difficulties that both issuers and investors are facing.
Data regarding commercial real estate construction in Eastern Europe showcases the three top players in the third quarter of 2013. Moscow leads, followed by Kiev, who has just made it in this top 3, and Sofia, according to a recent report by Colliers. The real estate giant has analyzed data for 13 cities in the area […]
TAG Immobilien has acquired the residential branch of state-owned real estate firm TLG after winning a bid that will require a EUR 471 million investment. The sum to be paid as part of this deal, the biggest in the German property sector for 2012, also includes TLG’s outstanding debt. TAG was one of the favorites […]
