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Bank of America Merrill Lynch

Sizeable losses for liquidating funds

© Qyzz - Fotolia.com

Specialist European investment manager Peakside Capital has committed all of the capital raised for its latest opportunistic real estate fund PREF II, fully 12 months ahead of the end of the planned investment period. Read more

Investment

Stefan Ermisch - HSH Nordbank

HSH Nordbank

Mid-sized northern German Landesbank HSH Nordbank made a further significant step towards cleaning up its balance sheet by selling off €1.64bn of legacy loans, as part of its mission to ready itself for new ownership as decreed by the EU following... Read more

Companies

Michiel Jaski - IVG

IVG

As REFIRE reported in recent issues, Germany's erstwhile largest listed property IVG Immobilien AG has embarked on the sale of its core property portfolio under the flag of its new corporate identity as Officefirst Immobilien. Plans seem to be... Read more

Companies

Rivergate - Wien Vienna

Peter Gugerell, via Wikimedia Commons

The Toronto-based Dream Global REIT, which is a pure play on German commercial real estate for Canadian investors, has dipped its toe for the first time outside of Germany. It has teamed up with an Asian sovereign wealth fund to buy a 50% interest... Read more

Investment

Vodafone - Eschborn

Florian Glock

US-based investor Apollo and German asset manager Publity have emerged as the buyers of the large German office assets forming the collateral of the Eurocastle 'Bridge' loan in the legacy Lehman Brothers Windermere X securitisation. Read more

Investment

Deutsche Annington

Maschinenjunge

In a flurry of activity over a hectic couple of days, the ownership structure of Germany’s largest private landlord Deutsche Annington underwent a major transformation. The share sales roundabout has resulted in, among other investors, the Middle... Read more

Companies

Hamburg Volksdorf

M.Ehrich/ Archiv GAGFAH

Global real estate advisory firm Situs said last week that it had got the mandate as the primary and special servicer for the recent €700m Gagfah CMBS German Residential Funding 2013-2 Limited securitisation, part of the listed multifamily... Read more

Companies

Two of Germany’s top listed real estate companies have opted this month to tap the bond markets as a source of fresh finance, as an alternative to their more traditional route of raising capital through a scrip issue to existing shareholders. Read more

Companies

Apartments in Berlin

U. Kneisel / Archiv GAGFAH

German listed housing group Gagfah, controlled by US private equity firm Fortress Investment, said earlier this month that it is close to completing the nearly €2bn refinancing of its securitised German Residential Funding portfolio, on improved... Read more

Companies

Speculation is mounting in German financial circles that private equity group Cerberus is now really firming up on its plans to float its German retail property holdings before the end of this year, as we reported in a recent issue of REFIRE. Read more

Markets

GAGFAH - Wiesbaden-Biebrich

GAGFAH

The recent refinancing deal by listed residential investor and manager Gagfah of its notorious Dresden housing portfolio was – by a big margin – the biggest single refinancing on the German real estate market since the onset of the credit crisis. Read more

Markets