Germany Real Estate News
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Germany Real Estate News |
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| Property funds set sights on Germany |
German bank SachsenLB to be taken over |
THE dwindling supply of investment-grade stock in Australia has pushed local property funds to buy overseas and Germany is one of the flavours of the year. In the past year
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Germany's Landesbank Baden-Wuerttemberg will take over SachsenLB, a smaller public-sector bank that has been buffeted by its exposure to the U.S. subprime credit crisis, a German state governor said Sunday. |
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Property funds set sights on Germany
THE dwindling supply of investment-grade stock in Australia has pushed local property funds to buy overseas and Germany is one of the flavours of the year. In the past year, companies including Multiplex and Valad have acquired or created funds to invest in property in Germany because of a lack of quality stock in Australia and a surplus of money due to superannuation investment.
German bank SachsenLB to be taken over
Germany's Landesbank Baden-Wuerttemberg will take over SachsenLB, a smaller public-sector bank that has been buffeted by its exposure to the U.S. subprime credit crisis, a German state governor said Sunday. LBBW will pay 250 million euros ($342 million) to troubled wholesale bank SachsenLB as an initial measure, said Guenther Oettinger, the governor of Baden-Wuerttemberg.
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