Daily market intelligence on mortgages, equity raising, investment sales, and CMBS.

Sunday, 15 October 2000

Heitman Launches $525 Mln Property Fund in Central Europe

Written by 
Rate this item
(0 votes)
October 16, 2000

Heitman International, a subsidiary of Chicago-based Heitman Financial, has closed a $525 million fund targeting the acquisition and development of properties in Hungary, Poland and the Czech Republic.

Heitman International is the asset manager of the fund, "Heitman Central European Property Partners," which the firm says was oversubscribed by investors, including institutional investors from North America, Europe and Asia.

Heitman will look for strong local partners with track records in the region to co-invest in the Western-style developments that the fund plans to target. The fund has so far placed about $275 million of projects under contracts that are expected to be completed this year.

Heitman anticipates that Central European property yields will converge more closely toward those of Western Europe within the next three to five years as the region moves closer to European Union membership.

Christopher Merrill, executive vice president of Heitman and member of the fund's board of managers will be responsible for originating investments on behalf of the fund. Stephen Perlmutter, president of Heitman International and also member of the fund's board, will serve as chairman of the fund's investment committee.

In addition to pursuing opportunities in the warehouse distribution and office sectors, the fund is also analyzing the dynamics of the residential and retail sectors and may explore opportunities in those sectors as well.

Heitman International, a subsidiary of Heitman Financial LLC, has been active in Central Europe since 1995 and has had an office in Warsaw since 1998. To date, Heitman International has participated in more than $400 million of transactions within Central Europe.


weekly-call-to-action

“The Weekly”

“The Weekly” is Commercial Real Estate Direct’s PDF newsletter, sent to subscribers every Friday morning. With over 100 news stories published on Commercial Real Estate Direct each week, “The Weekly” features the top stories in commercial real estate that industry participants need to know first. “The Weekly” also contains:

  • Breaking mortgage, CMBS, and REIT news

  • Quarterly league tables with rankings of B-piece buyers, book runners, and lenders

  • Industry moves and changes in “The Insider“

Additional Info

  • Syndicate to Realpoint: No
  • Subject: International (INTL), Opportunity Funds (OPPY)
Read 64 times

Data Digest

 

CMBS DELINQUENCY VOLUME

dqdataFP1

 

CMBS SPECIAL SERVICING VOLUME

sschartfp

Top Bookrunners Domestic, Private-Label CMBS - 2017
Investment Bank #Deals Vol$mln MktShr%
Goldman Sachs 17.59 11,819.34 13.68
JPMorgan Securities 14.52 10,968.11 12.70
Citigroup 12.04 10,012.71 11.59
Wells Fargo Securities 14.02 9,936.06 11.50
Deutsche Bank 12.55 9,879.74 11.44

 

RCA CPPI

 

cppichart FP

 

 

CMBS 2.0 Spreads

AAAspreads

Top CMBS Loan Contributors - 2017
Lender #Loans Vol$mln MktShr%
Goldman Sachs 146.89 11,719.34 13.63
JPMorgan Chase Bank 117.68 10,114.14 11.76
Deutsche Bank 198.48 9,689.97 11.27
Morgan Stanley 166.18 8,539.78 9.93
Citigroup 199.05 8,088.24 9.41

 

 

 

REITCafe

  • Challenging Retail Environment Weights on REITs
    Mixed economic news is weighing on retail markets, pushing REIT performance down in 2015. This week, the National Retail Federation announced that back-to-school spending is expected to be down 9.3% in 2015. This news came on the heels of a report from the Commerce Department stating that retail sales declined 0.3%...
     
  • US REITs Feeling Effects from Turmoil in Greece and China
    International economic forces have taken center stage this week, affecting both US stock markets and REITs. The crash in the Chinese stock market and ongoing concerns about the future of Greece in the eurozone drove markets down during the first half of the week. REITs fared better than the overall market...

  • What Does Increased Construction Mean for Apartment REITs?
    REITs so far this year have raised $17.1 billion of capital through the sale of unsecured notes, bringing the total raised over the past two and a half years to just more than $75 billion. That’s more than they raised during the previous five years. The massive volume shouldn’t be a surprise as it comes while the yield from 10-year Treasury bonds, the benchmark...
shouldn’t be a surprise as it comes while the yield from 10-year Treasury bonds, the benchmark against which most REIT’s price their bonds
warehouse-backstage