EUROPROPERTY ALERT - sponsored by CB RICHARD ELLIS and ING REAL ESTATE Welcome Along with bankers, rating agencies have been made scapegoats of the financial crisis we are in. The agencies failed to spot the subprime crisis looming and the enormous bubble in the European property markets. For years, they had given good notes of the securitisation of large pools of loans. Rightly so, the rating agencies lost much, if not all, of their credibility. You would think that they would adopt a more even-handed, thoughtful approach, but it seems that the rating agents have now become overcautious. The latest example is Fitch downgrading a loan for the purchase of 70 stores in the Netherlands in 2005. The stores are doing fine thank you very much, but Fitch downgraded the issue just on the assumption that if the stores were to go bust. Such actions do not help regaining confidence. Bert Erik ten Cate Editor EuroProperty * * * * * * * * * * * * * * * * * * * * * * EUROPROPERTY HEADLINES Credit Suisse sells €2.6bn European book http://www.egi.co.uk/Articles/2009/10/19/707590/suisse.html Swiss bank sells to US Lone Star at 60p in the pound Optimism “premature” says AEW chief Delaire http://www.egi.co.uk/Articles/2009/10/19/707597/aew.html.html AEW Europe CEO dismisses market optimism as “confusion” and “liar poker” * * * * * * * * * * * * * * * * * * * * * * DEALS NEWS Morgan Stanley adds to assets on offer http://www.egi.co.uk/Articles/2009/10/19/707593/morganstanley.html Morgan Stanley puts up for sale €200m Hamburg office WestImmo syndicates £40m of debt to DG Hyp http://www.egi.co.uk/Articles/2009/10/19/707591/westimmo.html German bank syndicates nearly half of Big Box loan to fellow German lender * * * * * * * * * * * * * * * * * * * * * * * COMPANY BRIEFINGS Situs Companies http://www.egi.co.uk/Articles/2009/10/19/707620/situs.html The US based consultancy has bought a German debt-service company to add to its stable of advisory service divisions * * * * * * * * * * * * * * * * * * * * * * * FEATURES Betting firms flock to the Rock http://www.egi.co.uk/Articles/2009/10/19/707626/rock.html With low corporate tax rates, Gibraltar is luring gaming firms from around the Continent * * * * * * * * * * * * * * * * * * * * * * * RESEARCH Key data: recent deals http://www.egi.co.uk/Articles/2009/10/19/707624/recentdeals.html RREEF, AREA and Europa complete one of largest deals this year * * * * * * * * * * * * * * * * * * * * * * * Register now for a free sample copy of EuroProperty Published twice a month, EuroProperty provides the most comprehensive and up-to-date overview of the European property market. Every issue gives you authoritative information from unrivalled sources including all the latest property news, analysis, company profiles, regional surveys and research, as well as regular features focusing on geographic regions and market areas across the industry. Register now for a free sample copy of EuroProperty by clicking here - http://www.egi.co.uk/Logon/Logon.aspx?FreeTrial=true&EPO=true For information on taking out a subscription to EuroProperty call our Customer Services Department on +44 (0) 20 7911 1780 OR email mailto:Customer.Services@EuroProperty.com ----------------------------------------------- This email has been sent to #emailaddr# Advertise in this email by contacting Rob Monaghan on 020 7911 1821 Add us to your safe senders list to ensure you receive our emails by clicking here - http://epidm.edgesuite.net/RBI/whitelist/whitelist.html Receive your own copy of this email by clicking here - http://www.rbiforms.co.uk/jquery/EGNEW/EGNEW_reg.html Unsubscribe from future EuroProperty Alerts by clicking here - http://www.rbiforms.co.uk/egepn.html Disclaimer This message is intended only for the use of the person(s) (\"Intended Recipient\") to whom it is addressed. It may contain information, which is privileged and confidential. Accordingly any dissemination, distribution, copying or other use of this message or any of its content by any person other than the Intended Recipient may constitute a breach of civil or criminal law and is strictly prohibited. If you are not the Intended Recipient, please contact the sender as soon as possible. Reed Business Information Limited. Registered Office: Quadrant House, The Quadrant, Sutton, Surrey, SM2 5AS. Registered in England under Company No. 0151537