Issue 2019 April 9th

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    Debenhams on brink of administration as Ashley hits out

    Troubled UK department store chain Debenhams has been taken over by its lenders, wiping out shareholders including Mike Ashley’s Sports Direct and creating a path for store closures. The department store group’s 165 outlets will continue to trade under a pre-pack deal that only affects its listed holding company. In a letter to shareholders posted [...]
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    PATRIZIA acquires portfolio of retail properties in Germany

    PATRIZIA Immobilien AG, the global partner for pan-European real estate investment, has acquired a portfolio of 27 retail properties across Germany from Marathon Asset Management for around €100 million on behalf of PATRIZIA Retail Opportunity SCS fund. The deal increases the portfolio of retail assets PATRIZIA manages across Europe to around €8.3bn. The portfolio, which [...]
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    Intu confirms new CEO with internal promotion

    intu, the largest owner and manager of prime shopping centres in the UK, has announced the appointment of Matthew Roberts as Chief Executive with effect from Monday 29 April 2019. Roberts will succeed David Fischel who will be standing down from the Board and leaving intu on Friday 26 April 2019. The Board has appointed [...]
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    Strong finish to year in US taken into 2019

    US transaction platform Ten-X has released its Winter CRE Volume & Pricing Trends report. The analysis found that CRE transaction deal volume totalled an impressive $537 billion at the conclusion of 2018, the second-largest year on record for CRE sales in the US. This close positioned the CRE market for a strong 2019 start, a momentum the [...]
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    REIT breaches covenant as shopping centre valuations downgraded

    RDI REIT PLC on Monday said loan to value ratio of four of its properties rose above 85% due to ongoing uncertainty in the UK shopping centres market. The trust said four of its shopping centres in the UK, Grand Arcade, Weston Favell, Birchwood and Byron Place, which represent 12% of the portfolio, are financed [...]