Investment
Management Group (IMG) has completed its acquisition of an
approximately 70% stake in a retail park to be built in Tver, Russia, on
behalf of its Russia Development Fund.
The
retail park, developed by Normal Asset Management (NAM), will be the
largest modern shopping center of its class to be built in Tver, a city
located 134 km northwest of Moscow.
The project will consist of two big box anchors: a hypermarket operated
by Globus, a Ge
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VastNed
Retail, the European retail property investment fund focusing on high
street shops, has concluded two loan agreements with Rabobank Rotterdam
that are in line with the optimization of its conservative financing as
announced upon the presentation of the sharpened strategy.
A
long-term loan of €25 million that was to expire end of April 2012 has
been extended by three years. Furthermore, a short-term loan of €25
million has been con
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INREV’s
recent Capital Sources Survey, suggests a significant structural shift
in the balance between debt and equity capital – the main sources of
funding for non-listed real estate investment. But, in all, capital is
reducing as a result of the financial crisis.
Debt
finance, in particular, has taken a battering leaving a significant
funding gap, as lenders seek to de-leverage and restore their loan books
to 2004 pre-boom debt levels.
Th
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