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		<title>Europe Real Estate</title>
		<copyright>Copyright 2012 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>Dublin's office vacancy pushed down with no new space in the pipeline (IE)</title>
			<pubDate>Fri, 03 Feb 2012 02:43:00 +0100</pubDate>
			<link>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=19589</link>
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			<description><![CDATA[
According to Savills latest office report, lettings activity showed an increase of 25% in 2011, compared to 2010, causing vacancy to reduce from 23% to 21.6%. The international real estate advisor predicts demand will remain strong for prime space in 2012 but overall vacancy rates may remain the same or marginally higher as some occupiers exit buildings. The overall take-up level for 2012 is forecast at circa 130,000 m&#178;(1,399,354 ft&#178;).
Savills reports that demand continues to be led by a prefer]]></description>
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			<title>Real estate fraud: How to spot the red flags on integrity issues</title>
			<pubDate>Fri, 03 Feb 2012 02:33:00 +0100</pubDate>
			<link>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=19588</link>
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			<description><![CDATA[
The recent verdicts in the &#128;250 million (US $330 million) Dutch real estate fraud case have thrown into sharp focus how tempting the large amounts of capital frequently changing hands in property transactions can be for tricksters in a market where valuations are often as much about &#147;art as they are science.&#148; 
Alvarez & Marsal&#146;s (A&M) Global Forensic and Dispute Services has identified a number of &#147;Red Flag Situations&#148; in which investors and operators in the sector should be aware that their in]]></description>
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			<title>Niam disposes of 68 retail properties in Finland (FI)</title>
			<pubDate>Fri, 03 Feb 2012 02:26:00 +0100</pubDate>
			<link>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=19587</link>
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			<description><![CDATA[
Niam has disposed of 68 retail properties to Sveafastigheter Fund III and their local asset management partner, Capitol Asset Management.
The properties are located all across Finland and comprise a leasable area of approximately 80,000 m&#178;.

Source: Niam]]></description>
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			<title>CoreNet: 83% of corporate real estate executives saw pay increase in 2011</title>
			<pubDate>Fri, 03 Feb 2012 02:16:00 +0100</pubDate>
			<link>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=19586</link>
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			<description><![CDATA[
An overwhelming majority &#150; 83% &#150; of those who manage corporate real estate (CRE) portfolios saw increases in their base salary in 2011, according to a global compensation study conducted by CoreNet Global and FPL Associates. This compares to a year earlier when 64% reported an increase in base salary in 2010.
In addition, 81% of the respondents expect to receive increases again in 2012.

Taken as a key economic indicator for the CRE industry, the survey results bode well for 2012.

The grow]]></description>
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			<title>Investor survey: Germany and Poland seen as winners of the debt crisis (EUR)</title>
			<pubDate>Fri, 03 Feb 2012 02:06:00 +0100</pubDate>
			<link>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=19585</link>
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The debt crisis in Europe is turning into a stress test for European property markets &#150; and forcing investors to recalibrate their investment strategies. Germany in particular should benefit from increased risk aversion. Investors have greater confidence in Germany&#146;s resilience to the impact of the euro crisis on the domestic property market than any other country.
That is the conclusion of the latest investment climate study conducted by Union Investment, which surveyed 167 property investors ]]></description>
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			<title>Multi takes 100% ownership in Italy - becomes Multi Development Italy (IT)</title>
			<pubDate>Fri, 03 Feb 2012 01:58:00 +0100</pubDate>
			<link>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=19584</link>
			<guid>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=19584</guid>
			<description><![CDATA[
After 6 years of collaboration, Multi and CDS Holding (its 25% partner in Italy since 2005) have decided to follow different strategies for their retail development business; negotiations were just concluded for the acquisition by Multi of the 25% stake of CDS.
Multi will again operate independently in Italy for all new development and consulting projects.CDS Holding remains involved only as a minority partner in MMM Italy and companies related to existing projects.

Paolo Tassi, Managing Dir]]></description>
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			<title>IPD: UK market turns, with the secondary sector teetering on the brink (UK)</title>
			<pubDate>Fri, 03 Feb 2012 01:50:00 +0100</pubDate>
			<link>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=19583</link>
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			<description><![CDATA[
Increased distressed asset sales may overwhelm the already struggling secondary sector in the UK real estate market. Prime growth was just 0.6% in the final quarter of 2011, whilst secondary assets lost -1.9% of their value, according to the IPD UK Quarterly Property Index.
These two sectors balanced themselves out to deliver a 1.4% total return in the fourth quarter, which contributed to a relatively robust return of 7.8% for the year.

All property capital growth slowed to -0.1% in Q4, as i]]></description>
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			<title>The Carlyle Group acquires €337 mln. Stockholm office and residential portfolio (SE)</title>
			<pubDate>Fri, 03 Feb 2012 01:24:00 +0100</pubDate>
			<link>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=19582</link>
			<guid>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=19582</guid>
			<description><![CDATA[<img src='http://www.europe-re.com/files/00047300/NackaStrand1_rgb300x226.jpg' width='100' align='left' hspace='5' vspace='5' border='0'>
 Global alternative investment manager The Carlyle Group (&#147;Carlyle&#148;) has acquired an office and residential led mixed use portfolio in the Nacka Strand area of central Stockholm for SEK 2.95 billion (&#128;337 million) from Vasakronan, Sweden&#146;s national pension fund. Carlyle invested through its third European real estate fund CEREP III, which raised &#128;2.2 billion of equity.

  
  
    
    
      
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			<title>HOCHTIEF and INTERBODEN JV sell 151 rental apartments for Düsseldorf's le flair quarter (DE)</title>
			<pubDate>Thu, 02 Feb 2012 03:07:00 +0100</pubDate>
			<link>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=19579</link>
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			<description><![CDATA[<img src='http://www.europe-re.com/files/00047300/leflairDsseldorf_rgb867x650.jpg' width='100' align='left' hspace='5' vspace='5' border='0'>
The joint venture between HOCHTIEF Projektentwicklung and INTERBODEN Innovative Lebenswelten has sold the second construction phase of the D&#252;sseldorf downtown residential quarter, le flair, with 151 rental apartments, around 1,000 m&#178;of commercial space and an underground parking garage off-plan to an institutional investor. The apartments should be ready for occupancy at the end of 2013.

  
  
    
    
      
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			<title>LaSalle completes sale of Wey Retail Park to ING for £12.85 mln. (UK)</title>
			<pubDate>Thu, 02 Feb 2012 02:52:00 +0100</pubDate>
			<link>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=19578</link>
			<guid>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=19578</guid>
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LaSalle Investment Management announced that it has completed the sale of Wey Retail Park, West Byfleet, on behalf of a pension fund client. The sale to ING was agreed at a price of &#163;12.85 million (&#128;15.45 mln.), representing a net initial yield of 5.93%.
Located on the edge of the commuter town of West Byfleet, Wey Retail Park totals 35,760 ft&#178; (3,310 m&#178;), with tenants including Comet, Pets at Home, Paul Simon and Halfords. It benefits from a part fully open, part bulky planning consent.

Chr]]></description>
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			<title>MULTI acquires remaining 50% of ING RE shares in 2ND phase of City Center Nieuwegein (NL)</title>
			<pubDate>Thu, 02 Feb 2012 02:41:00 +0100</pubDate>
			<link>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=19577</link>
			<guid>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=19577</guid>
			<description><![CDATA[
Multi Development NL has acquired the remaining 50% share of ING Real Estate acquired in the development and realization of the second phase of the expansion of the city of Nieuwegein, The Netherlands.
Multi will now independently continue to complete Stadskwartier Nieuwegein CV; one of the largest inner city (re) developments in the Netherlands. Multi and ING shared the first phase of the expansion of the city that opened September 2011. On February 15, 2012 construction of the second phase wi]]></description>
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			<title>Cordea Savills buys German real estate asset manager (DE)</title>
			<pubDate>Thu, 02 Feb 2012 02:35:00 +0100</pubDate>
			<link>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=19576</link>
			<guid>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=19576</guid>
			<description><![CDATA[
Cordea Savills, the international real estate investment manager, has acquired International Property Asset Management GmbH (IPAM), a German real estate asset management company, for an undisclosed sum. The acquisition complements and expands Cordea Savills&#146; existing German business and increases assets under management in Germany to approximately &#128;1 billion.
IPAM was founded in 2006 and provides both transactional services and asset management, with a strong focus on the retail and office sect]]></description>
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			<title>Israel Casanova new Country Manager for Redevco Spain and Portugal (ES/PT)</title>
			<pubDate>Thu, 02 Feb 2012 02:27:00 +0100</pubDate>
			<link>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=19575</link>
			<guid>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=19575</guid>
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Israel Casanova has been appointed Country Manager for Redevco Spain and Por-tugal. Casanova succeeds and will report to Javier Hortelano, who was recently appointed Chief Operating Officer at Redevco.
By bringing in Israel Casanova to direct Redevco&#146;s operations in Spain and Portugal, Redevco underlines its commitment to the current solid team.

Israel Casanova (age 38) started working for Redevco in 2005 as Portfolio Manager, handling the acquisition and integration of the Ahold/Dinosol por]]></description>
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			<title>Catella reports transaction volume of €6.8 billion in 2011 (SE)</title>
			<pubDate>Thu, 02 Feb 2012 02:06:00 +0100</pubDate>
			<link>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=19573</link>
			<guid>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=19573</guid>
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Catella&#146;s real estate advisory business, with operations in 10 European countries, reports a transaction volume of &#128;6.8 billion for 2011. Catella&#146;s transaction volume in 2011 thus increased by 9.3% compared with 2010.
Engagements performed by Catella in 2011 included: DNB&#146;s sale of Sannergate 2 in Oslo; the acquisition and financing, on behalf of a consortium, of building rights to the U.N.'s head office in Copenhagen; the creation of, and raising capital for, Turun Teknologiankiinteist&#246;t Oy in]]></description>
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			<title>Stena Realty completes second London deal in 6 months (UK/NL)</title>
			<pubDate>Thu, 02 Feb 2012 01:54:00 +0100</pubDate>
			<link>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=19572</link>
			<guid>http://www.europe-re.com/system/main.php?pageid=2616&amp;articleid=19572</guid>
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Stena Realty has completed the freehold acquisitions of Holland House, 1 &#150; 4 Bury Street and Renown House, 33-34 Bury Street within the heart of the City of London insurance triangle from a Local Authority Pension Fund managed by Aberdeen Asset Management. Stena was advised by Trinova Real Estate, the London based investment and asset manager who secured the acquisitions off market.
Holland House, situated directly opposite the Gherkin, was designed by renowned Dutch Architect HP Berlage and co]]></description>
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