IKEA investment arm in talks to buy city-centre retail property in big European cities

STOCKHOLM (Reuters) – IKEA’s Ingka Investments is in talks to buy commercial property in prime locations in several big European cities after it finalised its first-ever such acquisition last month, its managing director said.

The investment arm of Ingka Group, which owns most IKEA stores, is pushing into the real estate market as part of IKEA’s shift towards big city-centres from out-of-town. So far, such locations are leased.

Scouting for city-centre retail property more or less ready to house IKEA stores across Europe’s main cities, Ingka Investments’ first deal was in Paris’ Rue de Rivoli.

“We have ongoing discussions in big European cities,” Ingka Investments Managing Director Krister Mattsson said in an interview. “It takes time to buy properties, but there is a lot in the pipeline,” he told Reuters.

Inkga Investments is pushing ahead with the new strategy despite the wider retail market uncertainty caused by the pandemic.

Despite

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AllianceBernstein launches European real estate debt unit

AllianceBernstein launched a European commercial real estate debt business by taking a minority stake in pan-European real estate debt platform Lacarne Capital, a spokesman confirmed.

Financial terms of the deal were not disclosed.

AB already has taken an undisclosed stake in the firm and plans to acquire the remainder of the company early next year, the spokesman said.

The platform will launch with more than €1.2 billion ($1.4 billion) of initial capital. It will focus on direct origination and secondary participations in whole loans, subordinate loans, preferred equity and other real estate-backed investments across the U.K. and Europe, a news release said.

Equitable, which owns a 65% stake in AB, is the lead initial investor, the release said.

The platform will be led by Clark Coffee, founder of Lacarne Capital, who will join the platform along with his team once the remainder of his firm is acquired, the spokesman said.

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Target these European cities if you’re a real estate investor in 2020s

  • Europe still faces a volatile real estate market and the expected decrease in home prices over the next year could mean it is the right time for savvy real estate investors to buy.
  • Stephane De Baets, founder and president of Elevated Returns and a longtime real estate investor, gave us his picks.
  • Zug and Ibiza are two of the eight cities that make the cut.
  • Visit Business Insider’s homepage for more stories.

The real estate market in some parts of Europe is getting hammered by the COVID-19 pandemic.

According to Deloitte’s 2020 property index, the residential real estate market is forecast to stagnate in terms of prices and see a decline in transaction activities. All are indicators that a savvy investor could swoop in.

“When you feel that this is the end of the world and everything will go down to zero, when you have that feeling in your stomach,

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RPT-Dutch insurer Aegon puts Eastern European arm up for sale in coronavirus-led clean-up – sources

(Repeats story from late Monday with no changes to text)

FRANKFURT/LONDON, Oct 26 (Reuters) – Dutch insurer Aegon has put its Eastern European business up for sale as it seeks to raise cash to better cope with the fallout of the coronavirus crisis and revamp earnings in its core markets, two sources familiar with the matter said.

Aegon is working with JPMorgan on the process and has held preliminary discussions with industry players to sell the unit, which is primarily focused on Hungary but is also active in Poland, Romania and Turkey, the sources said, speaking on condition of anonymity.

The business could be valued at about 650 million euros ($767.85 million) and is being sold as part of an auction process, they said.

Dutch insurer NN Group and Belgium’s KBC are both studying possible bids for the assets while German rival Allianz has also

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Dutch insurer Aegon puts Eastern European arm up for sale in coronavirus-led clean-up – sources

FRANKFURT/LONDON (Reuters) – Dutch insurer Aegon has put its Eastern European business up for sale as it seeks to raise cash to better cope with the fallout of the coronavirus crisis and revamp earnings in its core markets, two sources familiar with the matter said.

Aegon is working with JPMorgan on the process and has held preliminary discussions with industry players to sell the unit, which is primarily focused on Hungary but is also active in Poland, Romania and Turkey, the sources said, speaking on condition of anonymity.

The business could be valued at about 650 million euros ($767.85 million) and is being sold as part of an auction process, they said.

Dutch insurer NN Group and Belgium’s KBC are both studying possible bids for the assets while German rival Allianz has also expressed interest, the sources said.

Aegon, Allianz and NN Group declined to

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European stocks fall as healthcare, construction sectors drag

By Sruthi Shankar



a desktop computer sitting on top of a desk: The German share price index DAX graph at the stock exchange in Frankfurt


© Reuters/STAFF
The German share price index DAX graph at the stock exchange in Frankfurt

(Reuters) – European shares fell for a third straight session on Wednesday, as losses in healthcare and construction stocks countered a lift from encouraging earnings from consumer giant Nestle and telecoms equipment maker Ericsson.

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The pan-European STOXX 600 <.stoxx> fell 1.0%, in sharp contrast to Asian markets and Wall Street futures that steadied on hopes of a fresh U.S. stimulus package.

Most European sectors slipped, with healthcare stocks <.sxdp> proving the biggest drag, while banking stocks <.sx7p> were supported by rising U.S. and European government bond yields.

Nestle lifted its 2020 sales forecast following a quarterly beat, but shares inched lower after early gains. Sweden’s Ericsson jumped 5.5% as higher margins and China’s 5G rollout helped the company beat quarterly core earnings estimates.

“Earnings have been generally well above expectations, and guidance has

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European lawmakers won’t be back in Strasbourg this month

BRUSSELS – European lawmakers won’t be returning to the French city of Strasbourg for next week’s plenary session because of the COVID-19 resurgence in France, the European Parliament president said Thursday.

The session also won’t take place in Brussels, where the virus situation isn’t better than in France.

Instead, European Parliament President David Sassoli said it will be held remotely due to the serious health situation in France and Belgium.

“Unfortunately last night, following a warning from health authorities and information about the virus that’s infecting MEPs, staffers and associates, this possibility vanished,“ Sassoli told a press conference. “Travelling is very dangerous; the situation in Strasbourg is critical and in Brussels it’s very serious.”

Plenary sessions scheduled in Strasbourg, which is the official seat of the European Parliament, have been scrapped since March because of concerns related to the coronavirus. Staff and parliamentarians are mostly based in Brussels but almost

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