Spreads on public real estate debt have increased rapidly in response to the coronavirus crisis, says CBRE. Paul Coates, head of EMEA debt & structured finance at the firm, said that investment grade real estate corporate bonds had seen yields to maturity increase by over 100 basis points by the...
ADO/Adler merger completes, creating German-focused multifamily giant
The merger of ADO Properties and Adler Real Estate has gone through, creating a listed property company which has the second-largest German-focused multifamily portfolio, behind Deutsche Wohnen. ADO said that in order to facilitate the friendly takeover, ADO had raised an additional 27.65 million shares. 91.93% of Adler shareholders accepted...
Amundi crosses the line with Barcelona acquisition
Amundi Real Estate this week completed its first acquisition in Barcelona - a deal which was first agreed nine months ago. The asset manager signed off on Calle Sancho de Ávila, 65, a new 8,300 m2 office building in the city’s @22 district, for a reported price of €56 mln.The...
GCP backs off deal to buy London student digs project
UK REIT GCP said this week that it has failed to meet the conditions of a special purpose agreement to acquire Scape Mile End Canalside in London, bringing an end to its exclusivity period to acquire the development. GCP first agreed to the forward funding transaction back in October 2017,...
Unite’s student digs portfolio value falls 2.2% in Q1 due to coronavirus
UK student accommodation group Unite said on Thursday that its reservations ahead of the new academic year are at similar levels than in 2019, but warned it could be hurt by virus-enforced travel restrictions reducing numbers of international learners. Reservations for the 2020/21 financial year are currently 79%, in line...
Wereldhave cancels final dividend
Dutch retail specialist Wereldhave has decided to withdraw the previously announced final dividend for 2019 to retain cash ‘in light of current uncertainties regarding the Covid-19 situation’. ‘For the year 2019 the company has already distributed €1.89 per share by way of interim dividends which covers the company’s dividend distribution...
Savills and CBRE furlough staff onto UK income support scheme
Global advisory firms Savills and CBRE are to furlough staff in the UK, in response to the impact the coronavirus crisis is having upon the property sector. The companies become the latest in the real estate industry to lay off employees while lockdown measures are in effect, taking advantage of the British...
How will EU supply chains recover from Covid-19? New study looks to China
Forecasts about how supply chains in Europe will recover from coronavirus disruption receive a boost in new research, showing they are already returning to pre-crisis levels in China, which was struck first by Covid-19. A survey by BCI Global of manufacturing companies in China found two-thirds of Chinese manufacturers, online...
‘Nearly 60% of hotel investors not seeking deals because of coronavirus’
More than half of hotel investors have stopped seeking deal opportunities because of the coronavirus crisis, new research shows. Just 41% of hotel inivestors in the EMEA were seeking potential transactions in mid-March, when occupancy rates in hotels across Europe had plummeted as tourists stayed away from cities in lockdown and business...
Aareal Bank suspends dividends over Covid-19
Real estate lender Aareal Bank has announced it is withholding its dividend payment to shareholders upon the advice of the European Central Bank (ECB). Amid the coronavirus crisis, the ECB has cautioned companies to withhold profits meant for shareholders, in order to build up Covid-19 war chests for absorbing losses incurred by the...