Institutional
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C&W buys stake in US real estate finance specialist
Cushman & Wakefield has reached an agreement to buy a majority stake in US-based real estate investment finance specialist Sonnenblick Goldman.
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UK property derivatives sector sets the pace
A separate section on derivatives published in the Financial Times’s FTfm supplement describes how the UK is setting the pace in the latest trend for real estate speculators.
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REITs ‘skew’ UK commercial property market
The introduction of REITs has “skewed” the commercial property market and introduced a tax loophole for wealthy individuals. REITs are exploiting their ability to wipe out capital gains liabilities to undercut…
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LandSec chiefs top up stakes
Land Securities’ chief executive Francis Salway, group finance director Martin Greenslade and development director Mike Hussey have topped up their stakes in the company after the stock’s price dropped last…
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Grosvenor/ABN trade first Aussie property derivative
The Duke of Westminster’s Grosvenor Group and Dutch bank ABN AMRO announced today that they had traded the first Australian property derivative. According to the Reuters news agency, Grosvenor’s finance director Nicholas Scarles said…
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Market will pay the price of dodgy borrowing and lending
In the aftermath of the market break at the end of February, many of the excesses I noted then have been re-established or exceeded, and the underlying business models seem…
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Brown urged to clarify infrastructure plans
The Institution of Civil Engineers, the Royal Town Planning Institute and the Royal Institution of Chartered Surveyors have written to Gordon Brown urging him to clarify plans for new infrastructure…
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Dawnay Day seeks shareholder backing for £100m share placing
Dawnay Day Carpathian is to ask shareholders to approve a £100m share placing to fund its expansion in to central and eastern European markets.
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Analyst slashes DTZ valuation by 17%
A prominent City property analyst has slashed DTZ’s valuation by 17% following the company’s announcement that finance director Tim Maynard will be leaving towards the end of this year.
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Morley man joins PIC
Mark Gull has left Morley to join Pension Insurance Corporation as the head of fixed income asset management. He was a senior fund manager, managing a range of institutional and…
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ING trust reports soaring profit
ING Real Estate Income Trust has reported a £22.9m profit for 2006 as the value of its properties increased. It reported just £4.2m last time.
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Morgan Stanley raises target for SCH
Morgan Stanley has raised its target price for Southern Cross Healthcare to 570p based on expectations of further acquisitions. It repeated its “overweight” stance.