Search results for

Fitch Ratings has rethought its methodology for rating and reviewing real estate asset managers. The original real estate asset manager methodology was based closely on Fitch’s general asset manager methodology, and this was also changed, in May 2007.

Leading Gulf-based real estate companies look set to benefit from the surging global demand for regional property-related securities, with many set to launch local and overseas initial public offerings over the coming months.

Andrea Carpenter, Inrev

Land Securities’ announcement that it will split into three sector-focused specialist companies is unlikely to signal the demise of generalist UK Reits. Other large Reits, such as Hammerson and British Land, have indicated that they will not pursue the specialist route. However, now that their share prices have come under significant pressure, many UK Reits will have to reconsider their structures and strategies, making Land Securities an interesting market test case.

Big changes are coming to the UK real estate market as the government seeks to pass the planning reform bill which is aimed, in part, at streamlining and improving the planning process. If passed, the bill will introduce a single consents regime for big infrastructure projects, create an independent infrastructure planning commission and institute further initiatives to improve the town and country planning system. Now in its first reading in the House of Commons, the proposed legislation could bring the most significant changes to planning in the UK since the end of the Second World War.

The European residential mortgage-backed securitization market has all but disappeared, and no one knows what the landscape will look like when investors and issuers return in January.

Full contents

Wachovia Securities has appointed four managing directors to run its new integrated real estate platform.

The Gherkin (30 St Mary Axe), a landmark building in the City of London, has been sold to German high-net-worth and private clients through IVG Immobilien’s closed-end fund, EuroSelect 14.

Spirits were high at the Euromoney/Liquid Real Estate awards dinner held on September 25 at the Four Seasons. The event brought award winners from around the globe to London, with more than 200 in attendance. Simon Brady, Euromoney’s managing director, acted as host and presented the awards. The big winners on the night were Jones Lang LaSalle, CB Richard Ellis, Morgan Stanley, Eurohypo, ProLogis China, NBK and Clifford Chance. Paul Zenon, the comedian and magician, supplied his own special brand of after-dinner entertainment, simultaneously thrilling and terrifying guests. Playing cards and doves flew around the stage as he set guests’ garments alight and spun a pint of Newcastle Brown Ale around his head. The party lasted into the small hours, with guests chatting at the bar and taking to the stage for a dance.

Guy Ratcliffe, executive director, Morgan Stanley

Full contents