Around 19% of countries across the world are reporting a severe negative impact on their real estate markets due to the pandemic – an improvement compared to 29% at end March, according to Savills’ latest global sentiment survey. Sentiment in China is now ‘slightly positive’. China has seen some real...
Supermarket REIT’s share issue increased to up to €160m
Supermarket Income REIT said on Friday that it has decided to almost double the size of its share issue after receiving ‘a strong level of support’ from investors during the marketing roadshow. As such, the UK landlord will now seek to raise between £100-£140 mln (€114-€158.8 mln) , up from £75...
Toronto firm raises €250 million for first Europe-only fund
Toronto-based Slate Asset Management is targeting German retail for its first Europe-only real estate fund. The manager has raised its hard cap of €250 mln - exceeding its €200 mln target - for Slate European Real Estate Fund III (Slate Europe III).Its previous funds were partly allocated to Europe.Slate Europe...
Dedica Anthology deal closing postponed to September on coronavirus
Completion of Covivio Hotels’ €573 mln acquisition of the Dedica Anthology portfolio has been postponed to September amid the current health crisis, the French firm said in a statement. Covivio Hotels, the hotel arm of French listed property giant Covivio, agreed the €573 mln hotel buy in January and initially...
Avison Young hires from Brookfield to boost European capital markets team
Global real estate advisory firm Avison Young has appointed Martin Brümmer and Christian Schreiber as principals in its European Capital Markets group. Brümmer and Schreiber will operate out of Germany and join Avison Young from Brookfield Financial (BFIN), a subsidiary of Brookfield Asset Management, where they co-led the European team...
Apollo said to be acquiring €700m Karstadt retail package
US group Apollo Global Management is said to be the frontrunner in a bid to acquire a portfolio of 17 stores from the ailing department store chain Galeria Karstadt Kaufhof, majority owned by the Austrian group Signa Holding. According to a news report by Bloomberg, a fund managed by Apollo...
Unite’s exec team takes 30% salary cut amid health crisis
UK student accommodation group Unite said on Wednesday that it has agreed to a 30% reduction to salaries and pension contributions for executive directors as part of a number of cash saving measures amid the ongoing health crisis. The company, which owns 30,209 beds in 79 properties across 22 university...
Edge reveals plans for London’s most sustainable office tower
Amsterdam-based developer Edge has revealed the designs for its new £450 mln London project described as the UK capital’s most sustainable office tower. The Pilbrow and Partners-designed scheme to be called Edge London Bridge marks the company’s first foray in the UK and will provide around 255,000 sq ft (23,500...
Shed developer VGP launches €200m capital raise
Belgium-based logistics developer VGP has unveiled plans to launch a €200 mln capital increase targeting institutional investors. The capital raise in cash will be launched by means of a private placement via an accelerated bookbuild offering. VGP has requested that the trading of VGP shares on the Euronext Brussels and...
Supermarket Income announces €85m placing to complete double deal
Outperforming UK grocery-focused investment trust, Supermarket Income REIT, has announced a £75 mln (€85 mln) placing as it seeks to close on two additional supermarket properties. The trust, which currently holds 10 supermarket assets let to Tesco, Sainsbury's and Morrisons, focuses on the UK's 'big four' grocery chains, preferring sizeable,...