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		<title>Europe Real Estate</title>
		<copyright>Copyright 2009 Real Estate Publishers</copyright>
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		<link>http://www.europe-re.com</link>
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		<description>Daily news and detailed information on the European Real Estate market</description>
		<item>
			<title>Surge in London commercial property investment from overseas buyers (UK)</title>
			<pubDate>Fri, 03 Jul 2009 09:40:00 +0200</pubDate>
			<link>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=14258</link>
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			<description><![CDATA[
Investment in London commercial property has risen for the first time since Q2 2007 according to new figures from Cushman & Wakefield. Its statistics for Q2 2009 show that &#163;1.433 bln. was invested in central London&#146;s main West End and City & Docklands markets, an increase of over 110% on Q1&#146;s figure of &#163;679 mln.
The central London property investment market is likely to be among the first to recover in Europe and the increase in activity is further evidence that overseas investors see value wit]]></description>
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			<title>ProLogis strengthes European leadership team (EUR)</title>
			<pubDate>Fri, 03 Jul 2009 09:30:00 +0200</pubDate>
			<link>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=14257</link>
			<guid>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=14257</guid>
			<description><![CDATA[<img src='http://www.europe-re.com/files/00038800/David_Doyle0382_rgb513x772.jpg' width='100' align='left' hspace='5' vspace='5' border='0'>
ProLogis (NYSE: PLD), a leading global provider of distribution facilities, announced today that David Doyle has joined the company as Chief Financial Officer of Europe, replacing Philip Dunne who was recently promoted to President & CEO of the European business. David will assume his new role on July 20, 2009.

  
  
    
    
      
        
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			<title>Valad announces restructure of European business and forms JV partnership with Bank of Scotland plc</title>
			<pubDate>Fri, 03 Jul 2009 09:20:00 +0200</pubDate>
			<link>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=14256</link>
			<guid>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=14256</guid>
			<description><![CDATA[
Valad Property Group (&#147;Valad&#148; or the &#147;Group&#148;, ASX: VPG) announced it has signed agreements with Bank of Scotland plc (&#147;BoS&#148;) necessary to create the Diversified UK and European (&#147;DUKE&#148;) property joint venture, which has a term of three years. A small number of subsidiary documents remain to be executed and these are expected to be signed shortly.
Transaction at a glance 
Valad has contributed the majority of its European / UK assets and all associated debt, to the DUKE joint venture. 

In ad]]></description>
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			<title>Ghelamco enters into €60 mln. financing for the construction of two office projects (PL)</title>
			<pubDate>Fri, 03 Jul 2009 09:10:00 +0200</pubDate>
			<link>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=14255</link>
			<guid>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=14255</guid>
			<description><![CDATA[
International developer Ghelamco has concluded a &#128;60 mln. project financing by Bank Pekao SA for the construction of two office projects, one in Warsaw and another one in Katowice.
The Crown Square building in Warsaw will offer 17,000 m&#178; of class-A office space between Prosta and Przyokopowa Str. and will be completed in Q1 2010. Crown Square is the third project in this location after successfully leasing out the adjacent Crown Point and Crown Tower office projects. 

Katowice Business Point]]></description>
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			<title>IVG Board of Management member Dr. GeorgReul: Times changing for the funds market (DE)</title>
			<pubDate>Fri, 03 Jul 2009 09:05:00 +0200</pubDate>
			<link>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=14259</link>
			<guid>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=14259</guid>
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IVG Immobilien AG in Bonn, one of the leading real estate companies in Europe with assets under management of &#128;22 billion, welcomes the German government&#146;s plans to regulate the &#147;grey capital market&#148; and place it under financial supervision.
Following the introduction of prospectus and publicity obligations for closed-ended funds in 2005, the tightened supervision will oblige fund providers to plan and document their business operations carefully and allow them to be reviewed externally in case]]></description>
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			<title>CBRE: New York still world's most expensive retail market despite rental falls</title>
			<pubDate>Fri, 03 Jul 2009 09:00:00 +0200</pubDate>
			<link>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=14253</link>
			<guid>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=14253</guid>
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Prime retail rents have fallen in almost every region across the world as the global recession impacts consumer sentiment and retail sales, according to new retail research from CB Richard Ellis (CBRE), Global Retail MarketView. 
Demand for retail space has declined in most markets across the world as consumers cut back on spending and unemployment continues to rise in many countries. Emerging and less established markets have been most significantly affected. Buenos Aires saw the largest annua]]></description>
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			<title>Land Securities sells Portman House, Oxford Street, London (UK)</title>
			<pubDate>Thu, 02 Jul 2009 10:35:00 +0200</pubDate>
			<link>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=14252</link>
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			<description><![CDATA[<img src='http://www.europe-re.com/files/00038800/27_PORTMAN_HOUSE_rgb450x314.jpg' width='100' align='left' hspace='5' vspace='5' border='0'>
Land Securities yesterday (July 1, 2009) announced that it has completed the sale of Portman House, a retail and office investment in a prime location on Oxford Street, London W1, to Kinloss Property Limited, a wholly-owned subsidiary of the Libyan Foreign Investment Company (LAFICO) for &#163;155 million which reflects a yield of just over 7.0%.

  
  
    
    
      
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			<title>Credit Suisse completes sale of part of Global Investors business to Aberdeen Asset Management (CH/UK)</title>
			<pubDate>Thu, 02 Jul 2009 10:00:00 +0200</pubDate>
			<link>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=14251</link>
			<guid>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=14251</guid>
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Credit Suisse yesterday (July 1, 2009) announced that it has successfully completed the sale of part of its Global Investors traditional asset management business to Aberdeen Asset Management. It now holds 240 million of Aberdeen shares, which are equivalent to a 23.9% equity stake in Aberdeen. Credit Suisse will be represented on the Board of Directors of Aberdeen Asset Management.
On December 31, 2008, Credit Suisse announced that it had signed an agreement to sell part of its Global Investor]]></description>
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			<title>Retail investors drive net investment into UK property funds (UK)</title>
			<pubDate>Thu, 02 Jul 2009 09:45:00 +0200</pubDate>
			<link>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=14250</link>
			<guid>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=14250</guid>
			<description><![CDATA[
Real estate investment experts have welcomed news that UK property funds saw their first net investment inflows into the sector since April last year.
The figures from the Investment Management Association showed &#163;2 mln. of inflows during May. This compared with outflows of &#163;12 mln. in April.

James Crookes, Property Investment Partner at international law firm Pinsent Masons said: &#147;The net inflows into UK property funds is encouraging for us all, and reflects the increasing activity that we ]]></description>
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			<title>Harbert acquires five distribution facilities in South East England for £64.4 million (UK)</title>
			<pubDate>Thu, 02 Jul 2009 09:40:00 +0200</pubDate>
			<link>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=14249</link>
			<guid>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=14249</guid>
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Affiliates of Harbert European Real Estate Fund II, L.P. and Harbert European Real Estate Fund II (Parallel), L.P. (collectively, &#147;Harbert&#148;) have acquired five modern distribution facilities from ProLogis European Properties for &#163;64.4 million. 
The facilities total 79,692 m&#178; of high specification distribution space and were built by ProLogis between 2001 and 2007. They are all fully occupied with a weighted average remaining lease term of approximately 12 years. Three of the buildings are ]]></description>
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			<title>Etera divests Swing Life Science Center to Commerz Real AG (DE)</title>
			<pubDate>Thu, 02 Jul 2009 09:25:00 +0200</pubDate>
			<link>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=14248</link>
			<guid>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=14248</guid>
			<description><![CDATA[
Etera Mutual Pension Insurance Company has signed a sale and purchase agreement to divest Swing Life Science Center in Keilaniemi, Espoo to a German real estate fund managed by Commerz Real AG for approx. &#128;120 million. The transaction was completed June 30, 2009. 
Swing Life Science Center is located in the well reputed headquarter area of Keilaniemi and consists of five office buildings constructed gradually between 2003-2008. The business park has a total leasable area of approx. 32,000m]]></description>
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			<title>Lords LB Asset Management starts placement of the Baltic real estate fund (LI)</title>
			<pubDate>Thu, 02 Jul 2009 09:20:00 +0200</pubDate>
			<link>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=14247</link>
			<guid>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=14247</guid>
			<description><![CDATA[
Lords LB Asset Management is launching its Baltic closed-end Real Estate (RE) investment fund - Lords LB Baltic Fund I. Its prospectus was approved last week by the Lithuanian Securities Commission.
This Fund will allow institutional investors and wealthy private individuals to make non-direct investments into a wide range of large-scale real estate projects, normally unavailable to most regular private investors. Along with the economic recession in the Baltics, the Fund will acquire high-qual]]></description>
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			<title>Urban Land Institute announces five winners of 2009 Awards for Excellence: EMEA</title>
			<pubDate>Thu, 02 Jul 2009 09:10:00 +0200</pubDate>
			<link>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=14246</link>
			<guid>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=14246</guid>
			<description><![CDATA[
Five outstanding developments have been selected as winners of the Urban Land Institute (ULI) 2009 Awards for Excellence: Europe, Middle East, and Africa (EMEA) competition. This year, the competition also included the announcement of two special award winners. The Awards for Excellence competition is widely regarded as the land use industry&#146;s most prestigious recognition program. 
The winners were announced on June 30 during an Awards for Excellence ceremony hosted in London by ULI EMEA, which]]></description>
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			<title>Treibreu Group acquires €64 mln. of properties from Japanese CREED Corporation (DE)</title>
			<pubDate>Wed, 01 Jul 2009 10:39:00 +0200</pubDate>
			<link>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=14245</link>
			<guid>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=14245</guid>
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Treibreu Group has acquired the properties of the Japanese CREED Corporation located in Germany in a transaction with total committed finance of &#128;64 million. The portfolio comprised 58 properties in Berlin, Leipzig and Dresden, which were mainly used for residential purposes, and which were held by two Dutch subsidiary companies of the Creed Corporation in Japan. Creed is currently in administration, under the supervision of the Tokyo courts.  Over the past years, Creed had acquired the propert]]></description>
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			<title>Certitudo Capital acquires part of shopping center De Helftheuvel (NL)</title>
			<pubDate>Wed, 01 Jul 2009 10:12:00 +0200</pubDate>
			<link>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=14243</link>
			<guid>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=14243</guid>
			<description><![CDATA[
Certitudo Capital has acquired a substantial part of shopping center &#147;De Helftheuvel&#148; in the west of 's-Hertogenbosch, capital of the Brabant province in the south of the Netherlands, from Unibail-Rodamco. The purchase encompasses 18 shopping units on long leases. 
The Helftheuvel shopping centre totals some 16,000 m&#178; of retail space offers some 700 free parking spaces. The center houses 80 shops and offers employment to some 600 people. 

Each year the Helftheuvel shopping center welcomes ar]]></description>
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			<title>Senior management changes to take shape at IPD NorthAmerica</title>
			<pubDate>Wed, 01 Jul 2009 10:00:00 +0200</pubDate>
			<link>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=14244</link>
			<guid>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=14244</guid>
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Simon Fairchild has taken over as Managing Director IPD North America, following the successful launch of the IPD US Annual Property Index.
Fairchild will be based in IPD&#146;s 12-strong Chicago office and will oversee the integration of the US and Canadian teams as well as the development of IPD&#146;s Portfolio Analysis Service (PAS) in the US &#150; which measures the relative performance of individual funds against peer group benchmarks &#150; and is based on a $121 bln. (approx. &#128;86 bln.) databank which Fair]]></description>
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			<title>Carlyle Group signs strategic joint venture with Crimson Investment (PT)</title>
			<pubDate>Wed, 01 Jul 2009 09:52:00 +0200</pubDate>
			<link>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=14242</link>
			<guid>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=14242</guid>
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Global private equity firm The Carlyle Group announced the expansion of its real estate operations in Iberia through a joint venture partnership with Crimson Investment Management. The partnership, which will advise, execute investments and carry out asset management services in Portugal on behalf of Carlyle, will provide a level of local access which the Group believes is fundamental to successful investment, in line with the platforms it has created in other European centers. 
Crimson Investm]]></description>
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			<title>Multi Vastgoed and Heijmans Commercial Real Estate sell Cegelec offices to private investor (NL)</title>
			<pubDate>Wed, 01 Jul 2009 09:45:00 +0200</pubDate>
			<link>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=14241</link>
			<guid>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=14241</guid>
			<description><![CDATA[<img src='http://www.europe-re.com/files/00038800/Amstelwijck-Cegelec--_rgb980x571.jpg' width='100' align='left' hspace='5' vspace='5' border='0'>
Multi and Heijmans have sold the new Dutch Cegelec BV headquarters at the Amstelwijck Business Park in Dordrecht to a private investor. The total investment value amounts to around &#128;7.1 million.

  
  
    
    
      
        
      
      The new Ceg]]></description>
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			<title>CBRE: Office sector remains the most liquid property segment across CEE (CEE)</title>
			<pubDate>Wed, 01 Jul 2009 09:42:00 +0200</pubDate>
			<link>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=14240</link>
			<guid>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=14240</guid>
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Central and Eastern Europe (CEE) recorded a total turnover of approximately &#128;85 million of property transactions in the month of May, through two investment transactions in Russia, according to CB Richard Ellis&#146; latest monthly CEE Property Investment MarketView. This result is close to the average CEE monthly investment volume tracked so far in 2009. With the addition of several transactions from Q1 2009 that were recently made public, the region&#146;s year-to-date property investment volume reache]]></description>
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			<title>RED Capital Management appoints new General Manager (RO)</title>
			<pubDate>Wed, 01 Jul 2009 09:29:00 +0200</pubDate>
			<link>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=14239</link>
			<guid>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=14239</guid>
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RED Capital Management has appointed Radu Niculescu as General Manager for Red Building Management Services and he will be responsible for the asset management of all the company&#146;s properties.
Niculescu will be responsible for all aspects of the asset management of RED&#146;s shopping centers, business parks, logistics centers and residential properties.

&#147;This is a tremendous challenge for me and will enable me to become involved in the asset management aspects of a property right from the outset]]></description>
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