Family values
Article Abstract:
The takeover by Delancey Estates of Freehold Portfolio Estates will allow the former company to become a leading player in the UK property industry. The complicated deal involves reversing Freehold Portfolio Estates, a private consultancy owned by British Land Chmn John Ritblat, into Delancey. Ritblat's son James will receive 4 million pounds sterling for Freehold Portfolio Estates, which saw pre-tax losses of 31,280 pounds sterling in 1997. Delancey will receive funding of 100 million pounds sterling from financier George Soros, who is buying into the company for his investors and for his own family trust.
Publication Name: Estates Gazette
Subject: Real estate industry
ISSN: 0014-1240
Year: 1998
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Rodamoco set for a bigger split
Article Abstract:
Greater investor choice is expected to follow a five-part split planned for Dutch-based property firm Rodamco in March 1999. The UK branch of Rodamco is managed by property firm Haselmere Estates, which could benefit by being placed within the top ten UK quoted firms. Rodamco holds global properties valued at 3.5 billion pounds sterling, with the UK accounting for 900 million pounds sterling. Rodamco plan to divide the company into divisions managing the UK, Europe, the USA and the remaining areas of the world.
Publication Name: Estates Gazette
Subject: Real estate industry
ISSN: 0014-1240
Year: 1999
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Comeback for loan insurance
Article Abstract:
Some UK insurance companies are now willing to protect the 'top slice' of loans made by banks to property companies. In turn, banks will be prepared to offer more money against a property. However, banks' exposure to speculative development remains low, according to FPDSavills' annual survey of banks and building societies. Of the banks surveyed, only 2% had lent money for speculative schemes, although 35% would consider funding for new buildings for which there are no tenants.
Publication Name: Estates Gazette
Subject: Real estate industry
ISSN: 0014-1240
Year: 1998
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