REC staff
The IPD UK Annual Index showed a 3.5% property return for 2009, but post-2010 pricing reflects fears that recovery will falter CBRE-GFI market commentary The pricing of future property risk has been remarkably stable in recent months, with the derivatives market expecting income return to be the main form of growth in the coming years, […]
REC global commentary Global property shares rebounded in February, as total returns rose 2.8%. They also outperformed global stock markets; the MSCI AC World Index registered only 1.5%. The Americas performed best, at 5.9%. Europe bucked the rising trend and was the only region to end in negative territory, with returns of -0.5%. Of the […]
It is now largely agreed that levels of global real estate investment will be higher this year and prices will firm up, at least for prime stock. The latest Cushman & Wakefield forecast points to a 30% leap in global trading to $478bn (€362bn) – not far off 2005 levels – and this could be bettered […]
Real Estate Capital UK commentary UK property stocks rose 1% in February, compared with a wider stock market uplift of 2.8%; UK REITs share prices rose 0.8%. Capital values rose by 1.3% on IPD’s monthly index for February, while rents fell -0.1%. All-property prime initial yields fell 12bps to 6.8%. Liberty’s demerger into a new REIT […]
Private equity players and German rival vie for profitable real estate lender, writes Lauren Parr
Restructuring of German retail CMBS is first to extend maturity of notes, reports Jane Roberts
It is not the 1990s again, but bank sales and restructurings are gathering pace. This month, Hansteen’s Ian Watson and Morgan Jones have pulled off their own “German Industrious” by clinching the old GPT Halverton portfolio in Germany. Just as Nick Leslau pounced on the distressed UK Industrious deal, in which many parties lost their […]
Last summer, when 60, 70 or even 80 fund managers said they planned to launch UK funds, there was widespread scepticism. Now, at the end of Q1 2010, the target date for most of them to close, only a handful have done so. Brockton Capital’s £400m raising for a second opportunity fund is a stand-out […]
IPD has signed a second, multi-country contract to benchmark funds, this time with AEW Europe. IPD will benchmark all 23 of AEW’s core and value-added funds, worth a total €8.9bn The four-year contract follows IPD’s global deal to benchmark all of ING REIM’s funds. IPD managing director Laurent Ternisien said: “This allows a whole management […]
The £1.9bn SWIP Property Unit Trust could buy £100m of property derivatives after unit holders voted by a 98% majority to change the open-ended fund’s investment parameters. Malcolm Naish, head of Scottish Widows Investment Partnership, said: “We will probably buy a series of staggered terms and maturities. “Even if we limited ourselves to [a derivatives […]