Hypo Real Estate has reported a net loss after tax of EUR 382 mln for the first quarter of 2009. The struggling German property financier attributed the swing to a pre-tax loss of EUR 406 from a pre-tax profit of EUR 190 mln in the year-earlier period to the crisis in the international capital, financing and real estate markets, as well as the costs of liquidity support.
Pan-European investor Bowery and real estate investor Alba join forces to acquire their first last-mile logistics asset in the Netherlands.
