FRANKFURT (Thomson Financial) - IVG Immobilien AG wants to acquire more than 2 bln eur worth of real estate assets in 2007, boosting the value of its property portfolio to 5.4 bln eur by year-end, chief executive Wolfhard Leichnitz told Handelsblatt in an interview.
The German company is beating out rival bidders on the real estate market because financial investors have trouble selling bonds tied to real estate and banks have curbed lending, he said.
Leichnitz said IVG has recently taken out a 1.35 bln eur syndicated loan 'for the same conditions and with greater flexibility than previous loans that were signed in times of good capital markets'. ludwig.burger@thomson.com lb/mog/jr COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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