real estate

Companies: Two real estate companies merge to increase presence in Peru, Chile and

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Actual Inmobiliaria, Acierto Inmobiliario and AshmoreAVENIDA announced that they have reached an agreement to merge their operations and create a housing development platform in the Andean region.

The business combination of y Acierto will result in a company that seeks to be a leader in the region, Actualcorp, with projected consolidated sales of close to US $ 400 million and with a potential of 60 under development in Santiago, Lima, Medellín and Bogotá among other cities.

This will allow access to a market of about 100 million inhabitants, which is similar to the size of the economies of the countries, the companies said in a statement.

AshmoreAVENIDA, as an independent investment manager, has created an investment fund whose exclusive purpose will be to invest in projects developed by Actualcorp.

This agreement is based on a business plan that includes a merger of Actual operations and Success in Colombia in the medium term and then the opening of Actualcorp on the Santiago de Chile Stock Exchange, the statement underlined.

The association will take shape through the formation of two independent vehicles that will complement each other in the development of businesses:

– Actualcorp: It will be the parent company of the development and project management companies in Chile, Peru and Colombia. Will operate under the brands Actual and Success, in the housing for sale and multifamily. Actualcorp will be controlled by current Actual shareholders and will be based in Chile with subsidiaries in Peru and Colombia.

– AshmoreAVENIDA Development Platform: It will be an Investment fund based in Ontario, Canada, with an initial capital of US $ 100 million, whose exclusive purpose will be to invest with capital in projects developed by Actualcorp through its local subsidiaries, in conjunction with other partners and funds investment. This fund will be managed by a management company controlled by AshmoreAVENIDA and will have subsidiaries in Chile, Colombia and Peru.

Both entities will join prior to the opening of Actuacorp on the Santiago de Chile Stock Exchange.

Current Real Estate, Founded in 1998 in Santiago de Chile, it expanded its operations to Peru and Colombia in 2012. It has specialized in the management of for sale and multifamily throughout the Andean region with integrated corporate services. It has developed more than 80 projects in these years aimed at middle segments in urban areas. Today it develops about 35 projects in Santiago, Lima and Bogotá.

Success Real estate is a leading Colombian company in the management and development of projects for medium segments and specialized in mixed-use projects with a strong brand and prestige. Its headquarters are in Medellín, although it also has an important operation in Bogotá and other cities in Colombia. Acierto has developed more than 40 projects and built more than 900,000 m2 in its 22 years of successful history.

AshmoreAVENIDA, based in Bogotá, Colombia, is a subsidiary of the English investment fund Ashmore Group plc, a specialist in emerging markets. It has a long history and presence in in Latin America through different financial vehicles.

For the partner and CEO of Actualcorp, Rodrigo Lyon, “This association will allow us to consolidate the internationalization strategy designed years ago. Actual and Acierto’s operations allow optimal geographic diversification, since Acierto is a very powerful brand in Medellín, both companies have complementary operations in Bogotá, and Actual has a strong presence in Santiago and Lima. This platform aimed at managing projects will be strengthened with the financial support of AshmoreAVENIDA, which will provide us with its network of investors, its financial capacity and experience in the business to continue growing in the Andean region ”.

“For Acierto, this important association will allow us to continue strengthening our leadership in the Colombian market and expanding it to the Latin American spectrum, adding the operations of Actual and Acierto, taking advantage of the synergies that will be generated. The financial support of AshmoreAVENIDA will be key to take position of new lands in strategic locations in the different cities of Colombia, Peru and Chile. “ commented the founding partner and President of Acierto, Juan Carlos Gonzalez.

To AshmoreAVENIDA CEO and Founding Partner, Michael Teich, “This agreement makes us happy because it is in line with the strategy we envision with the Ashmore Group of creating an operating platform in the Andean region that would allow us to provide profitable investment options to our network of global investors. We look forward to expanding our presence in Chile and Peru led by Actual’s successful local operations and track record. With Actualcorp we do not rule out opening operations in a fourth country in the Andean region in the coming years ”.

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Weather forecast for Tuesday 22 September: yellow warning for rain in six regions of the Center-North

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The rapid descent of a cyclonic vortex from the British Isles will also bring bad weather to the Mediterranean areas. The depression will bring southern winds to Italy which will push perturbations over our country, fueled by the fresh North Atlantic air. The phenomena will be distributed in an irregular way, but may be of strong intensity at the local level. Civil protection: yellow alert in Lombardy, Veneto, Friuli-Venezia Giulia, Tuscany, Umbria and Lazio.

IlMeteo.it forecasts

North

Rains and scattered thunderstorms will affect all regions, moderate / heavy rainfall is expected in Lombardy, Friuli-Venezia Giulia and in the Veneto between the plain and the coast. Temperature in calo with maximums not exceeding 25 degrees. The Civil Protection has issued a yellow alert for Lombardy, Veneto and Friuli-Venezia Giulia

Center and Sardinia

Unstable weather with rains and local thunderstorms on all central regions. Temperatures of 24 degrees in Rome and Florence, 21 in Perugia. Yellow alert of the Civil Protection for southern Tuscany, Lazio and Umbria.

South and Sicily

More unstable weather on Sicily where clouds can cause some rain. Compact clouds in the Tyrrhenian area, sun elsewhere. Temperatures below 30 degrees.

21 September 2020 (modified on 21 September 2020 | 16:58)

© REPRODUCTION RESERVED

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“One of the largest real estate deals in Riga.” Lithuanian Foundation has purchased the building of Citadele Bank’s head office in Riga – Society and Politics – News

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The bank does not inform about the transaction amount.

Citadele Bank stated that the goal of Lords LB Baltic Green Baltic Fund (V) is to expand the investment portfolio in Riga, while Citadele Bank will focus on its core business by transferring the management of the office building to real estate professionals.

“By signing this agreement with Lords LB Baltic Green Fund (V), we have implemented one of the largest real estate transactions in Riga. We started the process after the interest of several potential investors in purchasing this office building,” said Kaspars Jansons, Member of the Board of Citadele Bank. , adding that the location of the bank group ‘s head office and branch will remain the same. The bank will henceforth be the main tenant of the building and will continue to serve customers in Republikas Square 2a.

Johan Akerbloms, Chairman of the Board of Citadele Bank, mentioned that in recent years the bank has repeatedly considered the possibility of selling the head office building, being aware that teleworking will continue to grow and the office space required by the bank will decrease. “Seeing that there are several potential buyers, the bank decided this was the right time for the deal. (..) The deal will allow us to focus even more on the core business, supporting the local community with financial services,” he said.

At the same time, Mariuss Junda, the manager of Lords LB Baltic Green Fund, noted that the strategic goal of the fund is to invest in environmentally friendly, sustainable and valuable real estate objects, balancing risks and profits. “The business center acquired in Riga will strengthen our investment portfolio, creating long-term value for our investors,” he said.

According to Junda, the fund aims to focus on investing in the capitals of the Baltic States, mainly by investing in already completed and profitable projects.

The total area of ​​the office building is more than 30,000 square meters. The building consists of four identical modules, between which there are roof gardens. The building has offices and meeting rooms of various sizes, as well as a conference center for events of up to 200 people.

In March this year, Lords LB Baltic Green Fund (V) also acquired an IBC business center in Vilnius, the capital of Lithuania, with an area of ​​22,700 square meters.

The closed-end real estate investment fund Lords LB Baltic Fund (V) is managed by Lords LB Asset Management, which was established in 2008. The company currently manages 15 funds – 12 real estate funds, two private equity funds and one energy and infrastructure fund. At the end of June 2020, the total value of assets managed by the Fund exceeded 605 million euros.

Citadele Bank was the second largest bank in Latvia in terms of assets at the end of June 2020.

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Remax case: why you fight against real estate franchises

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Marcelo Babenco, vice president of the Real Estate Chamber of the Province of Buenos Aires.

Likewise, it is established that to exercise real estate brokerage, one must be duly authorized and registered in the corresponding registration in the respective College that also creates said law, as occurs in all Argentine provinces that have regulated the activity of the Broker through their laws , delegating to the schools the control of enrollment and disciplinary power, among other provisions and obligations.

It is interesting to note that according to law 14,085, in Chapter III of the prohibitions, art. 53 subsection J says: “It is forbidden to establish companies with people disqualified for professional practice” and in subsection l it says: “It is forbidden to act under another name that does not correspond to the name and surname of the members, except in the cases of companies legally constituted as a whole in accordance with the provisions of National Law 20,266 and its amendments, where it will be recorded in every publication, the name, surname and professional data of at least one of the members of the group in activity ”.

It is clear that real estate brokers can only partner with other real estate brokers and not with a brand, a franchise or a non-registered individual.

Professions are not franchised

After a brief legal explanation that governs our profession, we must add that “Professions are not franchised and cannot be delegated” (auctioneers, real estate brokers, pharmacists, doctors, notaries, biochemists, among others).

Now, going to what is happening today in our province of Buenos Aires and the rest of the country, in practice, all those auctioneers / real estate brokers who are in charge of a “real estate franchise” (whatever it is called), transgress the above mentioned laws (forbidden to associate with someone who is not auctioneer / broker), being liable to disciplinary sanctions through the Disciplinary Court of the departmental / judicial College to which their registration belongs.

The defendant may appeal the measure issued by his Departmental College to the College of Auctioneers and Public Brokers of the province of Buenos Aires, and if in that instance his sanction is ratified, It is left to the denounced the judicial recursive route in Administrative Litigation and follow it up to the Supreme Court in its two instances.

An exemplary ruling

The recent ruling issued by the General Inspection of Jusiticia (IGI) of CABA ordering the dissolution of the firm Remax Argentina S.R.L., also claiming that he will not be able to continue in the country and, consequently, he must begin his judicial process of dissolution and liquidation. The IGJ alleged that Remax Argentina SRL was created by two human persons to have the main franchise of Re / Max International and, from there, sub-franchise it to real estate agents and brokers.

The IGJ understands that the US entity “Indirectly exercises real estate brokerage avoiding local legislation” which imperatively establishes requirements for this activity and benefits through Remax Argentina SRL by participating in the fees of the real estate transactions brokered by the numerous franchisees. The exteriorization of the “Remax” brand by these sub-franchises generates in their favor the false appearance of belonging to an economic group, which will benefit them based on misleading advertising, which in turn benefits the franchisor, allowing them to participate. indirectly from the surgery, which it could not carry out on its own, directly. In addition, it highlights that the human persons, directors of the SRL are not real estate agents, nor is the purpose of Remax Argentina SRL to carry out this activity.

Real estate agents

Another chapter to deal with and which is as delicate as the one mentioned above, is the subject of the so-called “Real estate agents” or sellers of real estate agencies that work under the franchise method.

These “Real estate agents”, managed by registered real estate brokers, who are suspected of covering up with their name and registration the actions of agents who are unregistered people who practice the profession.

Crime framed in the Penal Code in its art. 247, which says: “It will be punished with ………… whoever performs acts of a profession for which a special qualification is required, without possessing a title or the corresponding authorization”, where titles and honors that do not correspond to him are usurpated, on behalf of the real estate broker authorizing the office.

Today we analyze the form of work carried out by these “Real estate agents” and those enrolled that enable them, within the framework of the franchises in general that currently exist.

Thus, it is discovered that in each of the offices of the aforementioned registered brokers, many people called “Real estate agents” who carry out brokerage acts.

Independent, monotributistas

These “agents” are not employees in a dependency relationship with said registered brokers, but act independently, to the point of being registered as monotaxers and issue invoices for their performance.

An important clarification should be made on this issue: all the dependents / employees of the registered real estate brokers are governed by the current labor regime through an employment contract, which determines that the employer is responsible for the performance of the dependent, who you must follow his directives.

The antagonistic and exclusive meaning of the terms “dependence” and “independence” clearly highlights the relevance of what has been said.

That is why it is so significant to bear in mind that the so-called “Agents”, they act independently, protected by the registered, exercising real acts of real estate brokerage in their own office (valuing, signing sales authorizations, advising, participating in the sales ticket and accompanying the parties to the deed, charging fees among other actions,) all these acts are non-delegable functions of the registered broker, whoever fulfills these functions without being (agent), violates art. 247 of the aforementioned CP.

As a conclusion of the data and objective facts reported, it is clarified that the so-called “Agents” They do not have the right to charge fees for the rule of art. 33 of national law 20,266, which says: “those unregistered persons who carry out the brokerage illegally have no right to collect any commission or remuneration.”

It is our responsibility to transmit all this information to the community and to the franchises (who seem not to know them), so that there is no doubt about the legitimate actions carried out by the Professional Associations, being an indisputable maxim, which they have the obligation to comply with. and enforce the law and that this does not mean harassing anyone who respects the rule of law that governs our country.

Vice President Real Estate Chamber Buenos Aires Province

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Manhattan rental deals soar to record highs

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Rental offers rose to a record 15,025 at the end of August, more than double the previous year’s inventory, according to a report Thursday from appraiser Miller Samuel Inc. and real estate firm Douglas Elliman Real Estate. The district’s vacancy rate reached a new high of 5.1%. Last August, it was below 2%.

Tenants find little reason to sign new leases in Manhattan, with the Midtown offices still vacant and the unknown over the reopening of public schools. Not all who left the area during the coronavirus isolation have returned, and those who pledged to stay in the city can get more space with lower rents in Brooklyn and Queens.

“The change in the rental market has been sudden and significant in a short period of time,” said Jonathan Miller, president of Miller Samuel, in an interview. “Until we see a stabilization in outward migration or some push to bring people back, we will see more moderate incomes in the future.”

“The change in the rental market has been sudden and significant in a short period of time”

To attract renters, Manhattan homeowners offered incentives such as free months or paying real estate agency fees on 54% of newly signed leases, a record level in nearly 10 years of data, the firms said. Taking into account the value of those incentives, rents fell 7.7% to a median of $ 3,161.

Brooklyn rents were relatively stable, despite the fact that offers in that district increased by more than 100%. Median income fell 1.4% to $ 2,424.

In Queens, where Long Island City’s luxury buildings offer easy access to Midtown, new leases plummeted 32% from the previous year to 213. Incentives were offered on 59% of those contracts.

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Börse Express – PHH supports Bondi Consult in the sale of the service hub of the “TwentyOne” commercial quarter to InterXion

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Almost two years ago, Bondi Consult acquired one of the last, large contiguous commercial areas in Vienna at Siemensstrasse 87-89 or 88 and divided it into six building sites – hubs. One of these building sites – the “Service Hub” has now been successfully sold by Bondi Consult to the InterXion Group. PHH Rechtsanwälte acted as legal advisor to Bondi Consult and provided support in handling the sale.

Bondi Consult offers a one-stop shop for all real estate-related questions in the areas of consulting, development, investment and work-out. When the Siemens grounds were originally acquired, Bondi Consult was able to prevail over well-known competitors in a bidding process.

The now sold service hub from the “TwentyOne” commercial district is to serve as the basis for a new data center for the InterXion Group, a global provider of cloud and carrier-neutral data center services for colocation. With the completion of the transaction, Bondi Consult was able to implement another representative real estate project and InterXion pushed ahead with its own expansion with a new location in Vienna as a “gateway” to Central and Eastern Europe and Turkey.

“As always, we were very satisfied with the professional support from the PHH team. Pragmatism and the move to the goal are very important here, “says Dr. Anton Bondi de Antoni on the involvement of PHH.

The transaction team at PHH Rechtsanwälte consisted of the lead transaction attorneys Rainer Kaspar, Partner, and Philip Rosenauer, Senior Associate, and was supported by Julia Fritz, Partner, and Michael Kutis, Senior Associate, on specific real estate law issues.

InterXion was advised by Gassauer-Fleissner Rechtsanwälte under the direction of Klaus Fischer, Partner, and Leopold Gnesda, Associate.

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Vanguard Properties sells almost half of the condominium apartments in the Algarve in five months – Real Estate

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The real estate developer Vanguard Properties has announced the sale of 40% of the 256 apartments that are part of the Bayline project, in the Algarve, since March this year, when it started its commercialization.

The real estate project located next to Lagoa dos Salgados, in Albufeira, started to be built in December last year and is expected to be completed in the summer of 2022.

“Vanguard Properties’ Bayline, in Armação de Pêra, has proved to be a sales success despite the pandemic context that we are going through. We attribute this success to the exceptional arguments regarding the location, architecture and quality of amenities, basic factors in the definition of a real estate product “, says José Cardoso Botelho, Managing Director of Vanguard Properties, in a statement. This real estate project, which cost 85 million euros and was designed by architecture firm Saraiva + Associados, is a closed condominium located 30 meters from Praia dos Pescadores, in Armação de Pêra, which will have 256 apartments of typology T1, T2 and T3.

Within the condominium, Bayline has services such as SPA, gym, indoor and outdoor pools and two hectares of green spaces and sports fields. Most apartments have views of the sea and the lagoon, at the same time, a protected natural area of ​​about 6 km in length.

Bayline presents BREEAM (Building Reseach Establishment Environmental Assessment Method) environmental certification, a system that assesses the sustainability of construction projects and whose classification is based on nine factors: management, health and well-being, energy, transport, materials, waste , water, land use and ecology and pollution.

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The cadastral value of real estate has become almost 30 billion euros more valuable – Society and Politics – News

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Industry NGOs are calling for both a return to the airbag and a review of assessment methods. And it is planned to revive the Advisory Council on Cadastral Valuation.

Artūrs Žuromskis, a member of the board of the Latvian Property Valuation Association: “Currently, the cadastral values ​​closest to the current cadastral values ​​are for apartments and groups of premises. Because they are simple enough to calculate and correlate closer to prices and market values. But the dispersion is large enough. which is outside Riga, its dispersion is huge and the correlation is much smaller. Simply put, the cadastral value of a standard-type apartment in Riga is now much closer to the market price than a private holiday home on the Daugava, outside Riga, where its cadastral value lags significantly. “

Property valuation was automated, following a new methodology, which should allow more accurate than before valuation of land and buildings. However, the SLS also acknowledges that there are mistakes and solutions will be sought. For example, determining the values ​​of office buildings that could be revised. It will also check whether large apartments and private houses are overestimated, where the price per square meter differs from the standard area housing.

For mass evaluation, the data for calculations are automatically selected from the Land Register. However, the quality of the data is limp, often not updated. In Latvia, the registration of changes and costs are still the responsibility of the owner. But elsewhere the state does it.

“In the world, such cases are usually dealt with either by allocating a special budget to these evaluators, who collect data specifically for evaluation, and in various other ways – there are external surveys, for example, in the Netherlands they have their own street view, where data can be viewed externally. , or through declarations – the state, or more often local governments, to which the owners submit simplified forms of declarations about changes, “explains Sarmīte Barvika, a researcher at RTU Faculty of Architecture.

The calculated values ​​were submitted to the public for discussion in mid-July, giving only two weeks at the beginning. However, due to great interest and objections, it was extended until the end of August. The SLS indicates that objections are grouped together and conceptual errors will be corrected. In turn, individual problems will not be solved.

In the past, in order to protect farmers, in 2015 an annual limit of ten percent increase in payments for agricultural land was imposed for ten years. Now, it will probably be extended, but uncertainty about the future will remain.

“We can freeze values, but that is not recommended, because once there is, there will come a time when this discrepancy will really be pressing,” Barvik said.

For example, in Estonia, where properties have not been revalued for almost twenty years, cadastral values ​​will now increase on average by as much as seven times.

It was envisaged that the newly calculated cadastral values ​​would come into force only in 2022, but until then the real estate tax system would be arranged so that the rapidly growing values ​​would not ruin a part of the Latvian population.

There are currently intense discussions among politicians about when, in what order and what taxes and their discounts to accept. However, the updated values ​​are still not on the government’s agenda, and it is very likely that this process will be postponed again for several years.

One of the proposals – to freeze the cadastral values ​​for another six years, means that the next time the cadastral values ​​are updated, their growth will be even higher than planned now.

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NPO employees want permanent contracts

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A group of employees from various public broadcasters has sent an open letter to NPO chairman Shula Rijxman, calling on them to issue more permanent contracts.

Also read: FNV member Zakaria Boufangacha: ‘Job security is our top priority’

In the open letter, the employees write that they sometimes work for a broadcaster for more than ten years without a permanent contract, which is always refused with a different argument. According to them, it happens regularly that they work for four year contracts to be hired again with a temporary contract after a half-year break.

Due to the lack of security, employees have difficulty taking out a mortgage and it is not uncommon for family extensions to be postponed. “We are fed up, and not just about that.”

According to the union FNV, public broadcasters employ approximately 1,300 people on a temporary contract, which does not include self-employed workers. The letter was written on behalf of employees of NTR, VPRO, KRO-NCRV, EO and BNNVARA, among others.

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Fossil find the last predator dinosaur in Argentina

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Fossil find the last predator dinosaur in Argentina

Wednesday – 27 Ramadan 1441 AH – May 20, 2020 AD No. No. [
15149]

Meat-eating dinosaur

London: «Middle East»

The remains of a predatory dinosaur (Megaraptor) have been found, becoming one of the last meat-eating dinosaurs that inhabited the planet, according to fossil scientists from the Argentine Museum of Natural Sciences.
The southern province of Santa Cruz witnessed the discovery in mid-March. After the experts studied the fossil remains of ten meters, they realized that they were studying the remains of a predator dinosaur from the end of the “age of the dinosaurs.”
“This is the moment that took place 65 million years ago when the dinosaurs became extinct, and this megapator that we must now study will be one of the newest representatives of this group,” the paleontologist in charge of the project, Fernando Nobath, told Reuters. This type of dinosaur is thinner than the Tyrannosaurus rex and it was fast and had a long tail allowing it to maintain its balance. Nobath said that they had a muscular structure and legs stretched out to make strides. “The specific feature of this megapetor was in two long arms and his thumb ended with a claw about 40 cm long,” allowing him to pounce on his prey, Noboth added.

Argentina

Argentina

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