EMEA Real Estate Correspondent
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Mar 10, 2011

Emerging mkts growth to boost property demand-Roubini

CANNES, France, March 10 (Reuters) – Surging growth in
emerging markets such as China and India will boost demand for
real estate, although uncertainties such as an oil shock could
pose major risks, economist Nouriel Roubini said on Thursday.

“The growth of emerging markets is going to be, in the
medium and long term, positive for both commercial and
residential real estate,” Roubini, an economics professor at New
York University, said at the MIPIM property trade fair.

Mar 10, 2011

Barclays plans more property lending

CANNES, France (Reuters) – Barclays (BARC.L: Quote, Profile, Research) plans to boost its domestic property lending in 2011, and expects to continue doing business in cities outside London in spite of the feared impact of public job cuts.

“We have the appetite to do more new lending to UK commercial real estate and to residential development this year,” Brendan Jarvis, head of Barclays Real Estate, told Reuters on the sidelines of the MIPIM property trade fair.

Mar 9, 2011

Barclays plans more UK real estate lending

CANNES, France (Reuters) – Britain’s fourth-largest bank, Barclays (BARC.L: Quote, Profile, Research), plans to boost its UK property lending in 2011, and expects to continue doing business in cities outside London in spite of the feared impact of public job cuts.

“We have the appetite to do more new lending to UK commercial real estate and to residential development this year,” Brendan Jarvis, head of Barclays Real Estate, told Reuters on the sidelines of the MIPIM property trade fair.

Mar 8, 2011

German prop. investors eye risk as competition hits

CANNES, France, March 8 (Reuters) – Stiff competition for
prime commercial properties in Europe is pushing German
investors to look more at riskier sectors such as emerging
markets and poorer buildings to boost returns, senior property
executives said.

“Right now it’s a difficult situation because there is too
much liquidity in the world and in Germany looking for core
products, in combination with the relatively low interest rate
environment, so we have been looking at other opportunities that
we can add value to,” IVG (IVGG.DE: Quote, Profile, Research, Stock Buzz) CEO Gerhard Niesslein said.

Feb 22, 2011

Blackstone deal may spark Europe CMBS revival

LONDON, Feb 22 (Reuters) – Europe’s market for commercial
mortgage-backed securities (CMBS), comatose for more than three
years, could be revived in a matter of months, starting with a
Blackstone (BX.N: Quote, Profile, Research, Stock Buzz) deal worth 360 million pounds ($582 million).

The new mortgage bond will be secured on a loan from
Deutsche Bank (DBKGn.DE: Quote, Profile, Research, Stock Buzz), to fund the private equity giant’s 480
million pound purchase of the Chiswick Park business estate in
London, two sources familiar with the transaction told Reuters.

Feb 21, 2011

Hammerson eyes new buys as full-year NAV rise

LONDON, Feb 21 (Reuters) – Anglo-French mall owner Hammerson
(HMSO.L: Quote, Profile, Research, Stock Buzz) posted a 17.6 percent rise in full-year net asset
value, lifted mainly by a spike in its UK properties values, and
said it remained on the lookout for new buys and developments.

The FTSE 100-listed landlord said on Monday the value of its
5.3 billion pounds ($8.6 billion) UK and French portfolios rose,
respectively, 12.5 and 1.9 percent in 2010, lifting its adjusted
NAV a share to 495 pence at end-December 2010, from 421 pence a
year ago.
“We expect a positive share price reaction today and remain
‘overweight’, given the continued strong demand for prime assets
and its modest loan-to-value ratio of 32 percent,” JPMorgan
analyst Harm Meijer said in a note.

Feb 15, 2011

Commercial property to rise in Asia, LatAm – RICS

LONDON (Reuters) – Fast-growing Asia and Latin America are expected to see commercial property rents and values rise in the first quarter of 2011, while the hard-hit U.S. market is showing signs of recovery, a survey said on Tuesday. The Royal Institute of Chartered Surveyors, which polled 410 of its members worldwide, said rental expectations in major markets such as Hong Kong, China, Singapore and Brazil are among the most bullish, while those in Peru are particularly upbeat.

This was in contrast to respondents from Greece, Spain, Ireland and Japan, where most respondents continue to foresee further rental declines, RICS said.

Feb 4, 2011

Hopes for Europe real estate recovery wane -survey

LONDON (Reuters) – A hoped-for turnaround in European real estate is unlikely to materialise this year, with the markets’ optimism hammered by the weak economic recovery and persistently poor debt conditions, a survey said on Friday.

PricewaterhouseCoopers (PwC) and Urban Land Institute (ULI), which interviewed 600 industry players including investors, developers and bankers, said respondents’ hopes of a quick rebound in last year’s survey has waned this year.

Feb 3, 2011

EMEA CMBS face increased downgrade risk-Moody’s

LONDON, Feb 3 (Reuters) – Commercial mortgage-backed
securities (CMBS) for non-prime properties in EMEA, especially
the UK, are at higher risks of downgrades this year as weak
credit conditions drag on longer than expected, Moody’s said.

CMBS secured by poorer-quality properties that need to be
refinanced in 2012 and 2013 face the greatest downgrade risk,
with the availability of financing not rising meaningfully in
the next two years, the ratings agency said on Thursday.

Jan 27, 2011

Great Portland NAV rises 3.8 pct in Q3

LONDON, Jan 27 (Reuters) – UK landlord Great Portland
Estates (GPOR.L: Quote, Profile, Research, Stock Buzz) said on Thursday the value of its properties
improved in the final three months of 2010, boosted by strong
demand for leasing and investments in central London.

Commercial property in the UK capital has far outperformed
the broader market in the past year, data has showed, prompting
London-focused Great Portland to line up about 3 million square
feet of new developments projects. [ID:nLDE7091Y0]

    • About Daryl

      "I am Reuters real estate correspondent based in London, covering Europe, Middle East and Africa. I cover global listed and unlisted real estate markets, real estate finance and banking, and write interviews, analysis, and other stories on both the sell-side – listed real estate investment trusts, developers, investment banks; and the buy-side – private equity, pension and insurance, and sovereign wealth funds. I have a special interest in European real estate financing, government interventions in Europe and its effects, emerging Europe and China’s booming but haphazard property markets."
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