Date: 29.7.2010
Meeting in Zagreb2nd October 2009 |
17th September in
Zagreb in organization of the company Iktus as a part of SHBE EREC platform, a
meeting with a topic of comparison of croatian POS and Dutch social housing
model.
Lecturers were Mr.Grga Ivezic, director
of the Agency for incentive housing , Mr. Vladimir Kukec, director of public
institution
Gradski stanovi from City
of
Varazdin and Mr. Lex Pouw, former
president of the
Board of the Dutch
housing organization Ymere.
Mr. Grga Ivezic had in
his presentation explained when, why and with what purpose the Agency was
founded, he mentioned projects, apartments built ( 4699 apartments in the
period from 2000 till today) and informed us of the maximal construction and
selling price (max selling price is 1109 €/m2) where plot is ensured by the
local community which makes such a favourable price possible. Even though the
credit loan can last for 30 years, Law clearly prescribes the size of the
apartment based upon the number of household members.
Especially is
interesting the fact that APN also gives credits for reconstruction and construction
of family houses or purchase of building material, of course under certain
conditions (more can be found at
www.apn.hr
).
Mr. Vladimir Kukec
showed different models of housing in Varaždin, from lease to sale of
apartments for young families, veterans of war, social groups where they are
especially trying to build them as a part of organized settlements not
individual units.
Lex Pouw presented
housing organization Ymere, its development, the way of functioning, history of
social care in Holland which today has strictly determined target groups which
include young families, starters, single mother, elderly people and handicapped
persons to whom the quality and to them adjusted and in the same time favourable
housing is offered.
He mentioned
projects that Ymere did and as well presented Dutch fund DIGH which gives
assets for the projects of social construction as well as projects of
renovation and energy efficiency.
Interest of the local
community and Towns was exceptional; we hope it shows the will of the mentioned
to solve housing needs for social groups of people in a unique and quality
matter.
Zagreb24th March 2009 |
19th March 2009, firm Iktus, as a part of SHBE EREC circles organized international seminar with the topic of (re)financing real estates in period of crisis. Lecturers Mr. Alan Herjavec, Head of Project Finance in Societe Generale Zagreb, Mr. Peter Decker Head of real estate team from the international law office Gibson, Dunn & Crutcer from Munchen as well as Mr. Don Markušić from law office Borić & partners from Zagreb presented their topics to the audience.
Mr. Herjavec described the effect of world crisis on Central and East Europe markets at which, crisis, in comparison to the west European countries has a specific consequences- from the problems with liquidity of the State, to drop or in fact negative GDP growth, problems with refinancing of foreign credits, slowing down or even stop of credit activities of the banks to the lowered investments and bad situation of some investors in the region. Real chance for the financing, as Mr.Herjavec pointed out, have just best projects of renown clients.
Mr. Decker talked about Anglo-Saxon practice which is now implemented in Germany, he talked about Loan to own and Real Estate Workout in cases of non-recourse financing, in fact in cases where for the credit payment just real estate with its revenues is reliable and what to do in the case the financial conditions are breached. The structuring of financing real estates is quite complicated process with numerous contracts and for the owner of the real estate/ debtor knowing the structure and insurance means is crucial as well as timely communication about all problems and questions with other parties involved. In many examples communication was shown to be essential.
Which are the possibilities in the case financial criterion/regulations are breached? Mr. Decker presented what are the possibilities for the owner of the real estate to avoid the loss of mortgage: cash sweep (using own available cash flow exclusively for the normal functioning of the real estate and debt servicing), import of fresh capital (increase of capital, new partner in real estate, mezzanine financing, loan form the co-owners), sale of loans- to the owner himself or third party. In most cases bank does not want to own a real estate and the owner of it is in the position to get different conditions, in fact, solutions for the credit payment.
In comparison to the German law where lender/bank can not dispose of real estates without approval of the owner, Mr. Markušić explained the difference in Croatian law where direct entering over real estate is possible. Mr. Markušić also mentioned recent opening of Croatian market to the potential buyers from EU which did not, till now, fulfilled the belief that the real estate transactions or investments will suddenly increase. One of those reasons is also restrictive immigration policy.
It was been useful to hear and exchange experiences and discuss possibilities of the implementation of western European models in Croatian conditions, especially in this period when a bad scenario is, for many projects, quite possible.
Munchen |
10th December 2008
Real estate
transactions in the crisis – Loan to Own, Free Sale or Work Out
From the establishment of
EREC in Munich, the financial crisis has changed the market signals in a
drastic way. The changes are constant, almost daily and there is a lot of
tension and black clouds, lots of silence but
meeting organized 10th December 2008 boldly
talked about the problem of real estate transactions in the crisis giving an
overview of current market situation but also showing new possibilities.
With a great help of
lecturers Mr.
Christian Damjakob
(Manager of Crown Westfalen Credit
Services GmbH), as well as the attorney at law Dr.
Matthias von Oppen
(Gibson,
Dunn & Crutcher LLP) presented were topics like: Loan to Own, Real Estate
Purchase/Acquisition in the Crisis – Free Sale or Work Out and in
discussion with Drs.
Jan Berghs
(Managing-committee European Investment
Group AG), Dr.
(Manager Real Estate Office Munich, Deutsche
Hypothekenbank Actien Gesellschaft) and
Bernd HansenKeith Fischer
(Senior Vice
President Lehman Brothers Private Equity were mentioned opportunities and risks
of real estate transactions in the crisis.
Düsseldorf11.09.2008. |
Düsseldorf 3 September 2008
For the 4th time in a row the SHBE organised their annual Golf Tournament at the International Golfclub Kosaido in Düsseldorf in cooperation with TCN Property Projects, Gold sponsors since 2005.
Although the weather didn’t support us this year the results where interesting and the clinics for starters and more experienced golfers were interesting and challenging.
Some 25 Real Estate professionals attended this SHBE network event and we are looking forward to next year. Bouwfonds Germany took the Challenge Cup home this year but for the next SHBE Golf Tournament in 2009 the offenders already called us to reserve their places.
München24 June 2008 |
München
24 June 2008
Under the highly appreciated support of the Dutch General Consulate in Munich last 24th of June German and Dutch Real Estate Professionals gathered to ground the European Real Estate Circle Munich.
Mr. Lionel Veer, Consul General in Munich hosted this first meeting of the SHBE European Real Estate circles meeting at his residence in Munich.
About 26 participants enjoyed the friendly atmosphere and tasteful diner and a very informative lecture of Mr Dr Hans Martin Schmid Dr. Hans Martin Schmid, Partner von Gibson, Dunn & Crutcher LLP in Munich about "Alternatives to avoid yield compression"
The next step of the European Real Estate Circle in Munich will be the Picnic network gathering on the 6th of October during the international commercial real estate fair EXPO REAL
. SHBE is participating as one of the co-exhibitors of the Holland Property Plaza
Hal C-3 stand 440.
Zagreb21st November 2008 |
SHBE EREC seminar held:
Shopping centers market in Croatia– sponsored by MACE GROUP
19th November 2008 in Zagreb under the sponsorship of the International Project Management Company
MACE another SHBE EREC seminar was held focusing on subject of shopping centers, their future development and market itself in this period of world crisis which gathered more than 50 professionals from real estate market.
Our lecturers were Mrs.
Vedrana Likan from Colliers International who presented the current market as well as gave an estimation for the years and projects to come answering on the main question is the Croatian market facing saturation, will it be able to contain all projects and how does the crisis affects future projects. Mrs.
Tanja Dajak director of Outlet centre Sv. Helena, first outlet in Croatia spoke about their project, the meaning of outlet, positioning in the market, value of the investment as well as expectations while representatives of MACE GROUP,
Mr.Dejan Jovanović and Mrs.Gordana Gavrilović mentioned projects MACE organized all over the world and presented the idea and meaning of project management company.
Interested discussion showed that many involved in real estate market are faced with hard decisions, to start or to delay certain project, to invest or hold to money, to find a good project and have enough strength to complete and wait for the crises to stop.
Berlin:06.02.2008 |
Date: 15 February 2008
The European Real Estate Circles, an activity of the SHBE founded in 1992, is planning the next step in the realization of her European Real Estate Circles network.
The 15th of February 2008, the European Real Estate Circles will organize a breakfast meeting in the Reichstag “Roof Restaurant” as a kick -off meeting to mark the founding of the Berlin Real Estate Circle under the working title,
“Germany - the economic motor of Europe”.
After Amsterdam, Düsseldorf and Zagreb, Berlin and Munich are the next circles to be founded in 2008.
Due to the results of the German economy in the last years Germany is often mentioned in a positive way in relation to the European development, especially the Real Estate sector showed positive figures in 2006-2007.
The interest of foreign investors and developers increased and many
companies and institutions founded their main offices or a subsidiary
in the Berlin area.
But what is their experience and how to the see the future in Germany
and Berlin in the next years. Does the Sub-prime crisis affect the
growth and economic development in the next years?
For an answer on these questions we invited Mr. Wijnand Donkers, CEO of Deutsche Annington Immobilien Gruppe (DAIG) with 220.000 dwellings in ownership one of the largest housing organisations in Germany to share his experience with the audience. We also invited Mr. Marius Menkveld CEO of SNS Property Finance a Dutch real estate financier with a solid long term track record in Property finance, investments and leasing to inform you about their strategy and expectations of the real estate market in Germany. SNS Property Finance has offices in Germany, France and the Netherlands
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