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...

Impact Healthcare and HSBC ink €57m credit line

UK care home investor Impact Healthcare REIT and HSBC have agreed a new £50 mln (€57 mln) revolving credit facility. The arrangement is for three years with the possibility of another two years. Under the terms of the facility, Impact Healthcare is able to draw £34 mln (€39 mln) at...

Immobel Poland picks JLL & CBRE for new Warsaw tower

Belgium-based office developer Immobel has hired JLL and CBRE to act as agents for its new office tower in Poland. The firms are to be responsible for marketing Central Point in Warsaw, the capital city. The project was developed by Immobel Poland and is expected to be completed in the...

GPE collects only 63% of quarterly rent

Great Portland Estates said on Friday that it has collected only 63% of quarterly rent, compared to 99% at the same time a year ago. Over 60% of the outstanding rent is from occupiers in the retail, hospitality and leisure sectors, the company said. ‘Despite these unprecedented conditions, the GPE...

AviaRent fund acquires €185m German portfolio

Luxembourg fund manager AviaRent has acquired a portfolio of twelve nursing homes and assisted living properties in Germany for €185 mln. The purchase was made on behalf of the European Social Infrastructure I (ESI I) fund launched two years ago in joint venture with French asset manager Primonial.The properties, built...

Stone Estate appoints new head of asset management

Stone Estate.Swiss Management, part of the Reech Corporations Group, has appointed Alastair Manning as managing director and head of asset management with immediate effect. With over 15 years of experience in real estate asset management, acquisitions and disposals, Manning will bring further expertise and knowledge to Stone Estate’s efforts as...

Capital locked up in frozen UK open-ended funds reaches £20bn

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Switch to ‘underperform’ for Dutch retail CMBS

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