German and Norwegian banks and investors are feeling the effects of the U.S. subprime mortgage problems as bankers held a crisis meeting in Germany Wednesday to review IKB Deutsche Industriebank AG. An Oslo firm that sold Citigroup municipal bond securities is headed into bankruptcy after having its license revoked by Norway's credit regulator.
ING Clarion has acquired Rivermark Village from a joint venture between LNR Property Corp. and Shea Properties for $90.5 million. The 138,000-square-foot shopping center, in Santa Clara, Calif., is anchored by a Safeway grocery store.
Europe's biggest department store, KaDeWe, is part of a $1.18 billion property deal Arcandor reportedly is polishing with Rreef, the real estate investment division of Deutsche Bank, and Italy's Pirelli Real Estate. Arcandor communications director Jörg Howe confirmed the companies are in the "final stages of negotiations."
Alan Karrh, former group president at Core Commercial Group, was named vice president of investments at Regency Centers. In his new role, Karrh will be responsible for expanding retail and mixed-use development opportunities in South Florida.