Anbang eyes pbb
Anbang Insurance Group is in talks to buy German real estate bank Deutsche Pfandbriefbank.
The Chinese insurer is looking to buy the state-owned bank from its parent Hypo Real Estate, while an IPO is also being explored.
The bank is worth in the region of €1.5bn (£1.1bn). Hypo appointed Citi and Deutsche Bank to privatise the bank in February.
The process must be completed by the end of the year as part of an agreement with the European Commission in exchange for a €10bn bailout of Hypo in 2008-09.
KWE ups quarterly dividend
Kennedy Wilson Europe has raised its interim dividend by 14% to 8p per share, following a string of leasing deals across its £2bn portfolio.
The company completed £564.9m of acquisitions in the first quarter at a yield of 7.1%.
The portfolio is financed by £586.3m of debt at a LTV of 29.2%.
Palace hires Silvester
Palace Capital has hired NewRiver Retail’s Stephen Silvester as finance director.
Silvester will join at the start of July having spent three years at NewRiver, where he was group financial controller.
MSCI IPD sees slowdown
First quarter total returns slowed to 2.9%, down from 4.1% in the last quarter of 2014, according to MSCI’s IPD UK Quarterly Property Index.
Capital growth for all properties was 1.6%, down from the previous quarter’s 2.8%. Offices returned 3.9% overall, down from 5.3%. Industrial returned 3.4%, down 230bps.
