NAV lift for CLS Holdings
CLS Holdings’ NAV rose by 17.4% year on year to 2,083p per share, according to its 2015 annual report.
Its total property portfolio value rose by 7.7% to £1.5bn.
The vacancy rate was steady at 3.1%, portfolio net initial yield stood at 5.9%, and group revenue rose by 19.4% to £118.9m.
Post-tax profits fell by 32% to £132.1m.
Partners fund Milan retail asset
ING Real Estate Finance has joined forces with BNP Paribas to extend a €160m (£125m) finance package to the Galleria Verde joint venture.
The loan is secured against a 347,000 sq ft retail gallery in Milan with a market value of €256m.
The gallery is part of the Fiordaliso retail park, part-owned by Eurocommercial.
BNP PRE sets fee record
BNP Paribas Real Estate generated a record €756m (£586m) in fees in 2015, up by 1.8% on 2014.
France led the submarkets with 54% of revenue, while commercial real estate generated 88% of total income.
Advisory fees were up 11.6% to €330m. Commercial real estate development revenue was €971m, up 2.4% on 2014.
European funds earned a quarterly return of 2.8%.
To send feedback, email mike.cobb@estatesgazette.com or tweet @MikeCobbEG or @estatesgazette
