FINANCE

Study: Munich and Berlin top European commercial real estate investment prospects

BY Marianne Wilson

London — Three cities in Germany are ranked the top five European markets for commercial real estate investment, according to a report by the Urban Land Institute (ULI) and PricewaterhouseCoopers (PwC).

Munich took the top spot in the report, “Emerging Trends in Real Estate Europe 2013,” followed by Berlin, London, Istanbul and Hamburg. The ranking of 27 cities across Europe was based on respondents’ expectations for market performance in 2013.

Overall, the highest ranked cities were the larger Western European centers with international appeal and better economic prospects. The worst performing cities were those in countries at the heart of the Eurozone crisis or struggling to cope with the consequences of the 2008 financial meltdown, including Athens, Lisbon, Dublin, Madrid and Barcelona. Budapest came in last in the rankings.

“Almost five years since the start of the financial crisis, real estate investors remain cautious about capital deployment and the availability of debt” said Joe Montgomery, chief executive of ULI Europe. “As a result investors are focusing on the harder to find opportunities in blue-chip cities such as Munich, Berlin, London and Paris, rather than turning to secondary locations in search of higher returns.”

The study noted that Munich’s No. 1 ranking was based on a multiple factors, including its strong and liquid market, expanding demographics and low vacancy rates and constrained supply.

Berlin, which is dubbed by many as Europe’s “Silicon Allee,” was called out for its growing reputation as a technology hub and reputation as a cultural center.

The report called London “one of the world’s ultimate safe havens,” and that it is seen as sitting apart from the problems in the wider United Kingdom and European economies. The city’s size, strength and liquidity of its real estate market are attractive to many investors. Istanbul was cited for its future development opportunity.

“The city’s exciting real estate potential is driven by economic growth which rivals China and demographics where the average age in Turkey is only 29,” the report noted. “Recent changes have eased restrictions on foreign ownership of Turkish real estate, as the government seeks to attract international capital and transform Istanbul into a regional financial centre.”

Investor interest in Hamburg, Germany’s second largest city, is driven by its safe-haven status. The city benefits from a diverse mix of global occupiers and domestic small and medium sized businesses, according to the report.

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B.Sam says:
Sep-17-2013 08:20 am

Montgomery
“Almost five years since the start of the financial crisis, real estate investors remain cautious about capital deployment and the availability of debt” said Joe Montgomery, chief executive of ULI Europe.The Montgomery is detaily given quick transcription service. you can any ideas? click here

B.Sam says:
Sep-17-2013 08:20 am

“Almost five years since the start of the financial crisis, real estate investors remain cautious about capital deployment and the availability of debt” said Joe Montgomery, chief executive of ULI Europe.The Montgomery is detaily given quick transcription service. you can any ideas? click here

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Target sinks teeth into ‘Twilight’ exclusive

BY CSA STAFF

MINNEAPOLIS —Target is giving "Twi-hards" an exclusive way to experience the final installment of the "Twilight" series with its offering of athree-disc deluxe edition DVD and exclusive two-disc deluxe edition Blu-Ray. Available only at Target stores on March 2 and for preorder at Target.com now, the exclusive Target version features more than 50 minutes of never-seen-before bonus content giving Twilight fans a new way to experience the saga. Fans will receive an exclusive special edition poster free with pre-order at Target.com.

The bonus content explores the vampires’ special powers, gives viewers an inside look at being Charlie Swan with actor Billy Burke and features interviews with cast members, filmmakers and author Stephenie Meyer. The bonus content also contains previously unreleased footage from the black carpet at the theatrical world premiere and a behind-the-scenes look at the Twilight stars visit to Comic-Con International 2012.

"’The Twilight’ franchise has some of the most devoted fans in the world. We’re honored to bring Target guests exciting content from the final film that they cannot see anywhere else," said Anne Stanchfield, divisional merchandise manager of entertainment, Target. "The dynamic bonus features found only at Target give Twilight fans a new way to experience the saga as the franchise comes to a close."

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REAL ESTATE

Walmart to expand presence at Berlin Mall

BY Katherine Boccaccio

Berlin, Vt. — Berlin Mall LLC announced it has cleared the last two permitting hurdles to begin an 18,700-sq.-ft. expansion of The Berlin Mall, located in Berlin, Vt. The expansion is part of a planned increase in the size of its Walmart anchor store, which will also expand into existing, adjoining retail space at the mall

Construction is slated to start spring 2013.

In addition to the using the 18,700 sq. ft. that will be added to the mall, Walmart also will absorb 7,500 sq. ft. formerly occupied by F.Y.E., as well as Payless Shoes and Optical Expressions. Both of these tenants have moved to another location within the mall.

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