All Real Assets articles in April 2006 (Online)
View all stories from this issue.
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News
Fortress to float German real estate
REAL ESTATE – US private equity firm Fortress plans to float part of its German real estate holdings on stock exchanges by the start of 2007, a spokesman for the firm has confirmed. Since entering the German market in 2004, Fortress has acqu...
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Irish reserve fund on target for real estate
REAL ESTATE - Ireland’s National Pensions Reserve Fund (NPRF) invested €400m in real estate in 2005, according to its annual review. The fund expects to invest €500m in 2006, and €500m for each of the next three years. And ...
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Clarion to develop new industrial properties
REAL ESTATE - Clarion Partners has created a joint venture with Trammell Crow Company to develop two new industrial buildings in Beaumont, Calif. The development will build two warehouse/distribution buildings within the Beaumont Business Park on ...
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CalSTRS commits to old folks’ housing
REAL ESTATE - The California State Teachers Retirement System has made its first investment in old folks’ housing. It has established a partnership relationship with Newport Beach, California-based Vintage Senior Advisors. CalSTRS and V...
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CalPERS to hire managers for global REIT program
REAL ESTATE- California Public Employees Retirement System has sent out an RFP for managers for an international public real estate equity securities (PREES) investment program. The Sacramento-based fund has not established a specific amount for t...
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Belgium’s KBC scheme shifts to real estate
REAL ESTATE - Belgian bank KBC’s €870m pension fund is to shift 3% of its equity allocation to real estate after ruling out investing in hedge funds. Edwin Meysmans, managing director of the firm’s defined benefits scheme, said...
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Aviva scheme buys Leeds office block
REAL ESTATE - Aviva’s pension fund has acquired an empty Leeds office block for around £11m (€15.8m). Morley, the financial services group’s asset management arm, completed the deal for the property – once owned by th...
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Deutsche’s RREEF in $500m Russia venture
REAL ESTATE - RREEF, Deutsche Bank’s real estate investment arm, has announced its entry into the Russian real estate market via a joint venture with local firm RBI to develop residential and mixed-use projects in St Petersburg. The pipelin...
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European real estate to get $100bn boost – S&P
REAL ESTATE – The introduction of UK and German retail estate investment trusts could boost result in $100bn in extra capital entering the market, says Standard & Poor’s. “The introduction of U.K. and German tax-efficient rea...
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Investors pull €1.3bn from DB Real Estate
REAL ESTATE – DB Real Estate’s embattled core German fund has been hit with another €1.36bn in investor outflows since it was re-activated on March 3, according to the new statistics from German fund industry association BVI. The...
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Schemes put €1.44bn into real estate in quarter
REAL ESTATE - Pension funds poured more than £1bn (€1.44bn) into real estate in the first quarter of this year, according to industry data. Deal Flow, investment publishers MandateWire’s quarterly survey of investment activity, co...
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NIBC nabs three for real estate
REAL ESTATE – Dutch banking group NIBC has hired three pension industry real estate people as it expands its real estate and infrastructure unit. It said the move was part of its strategy “to grow the investment management activities f...
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Sacramento scheme commits to offices
REAL ESTATE – The Sacramento County Employees Retirement System has decided to invest all of its separate account capital into office buildings. The main reason for this is portfolio diversification. The fund’s chief investment office...
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Hart to market its first commingled fund
REAL ESTATE - Hart Realty Advisers has begun the marketing process for its first commingled fund. The Hart Realty Fund, L.P. is slated to grow to $100m (€81.5m). It’s the first time in its 24-year history that the company has done t...
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Clarion eyes self-storage
REAL ESTATE - Clarion Partners has plans to acquire $50m-$100m (€40.7m-€81.4m) in self-storage properties on an annual basis. This capital will be invested on behalf of a mixture of commingled funds and separate account pension fund clie...
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Cerebus Deutschland ‘real estate head quits’
REAL ESTATE – The German arm of US private equity firm Cerebus has reportedly lost the head of its real estate business as well as five other employees from the unit. According to Germany’s Börsen-Zeitung, Ralf Winter, head of rea...
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Colonia results reflect bullish German market
REAL ESTATE - German real estate firm Colonia exceeded its group-wide income targets by €4m, delivering €6.8m in 2005. As it announced the results, the firm said it would increase its guidance for the coming year “considerably”...
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Pension schemes to raise allocation – ING
REAL ESTATE - Pension funds will hike their allocations to real estate over the next five years as they ditch the drive for returns in favour of “an approach based on managing assets and liabilities”, according to George Jautze, CEO of IN...
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DIFA buys 50% of London office project
REAL ESTATE – Germany’s Deutsche Immobilien Fonds AG (DIFA) has acquired 50% of a 250,000 square foot central London office complex for around £90m (€130m). The deal for “building 3” will kick off phase two of t...
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Germany’s €17.7bn BVV eyes real estate
REAL ESTATE - BVV, a €17.7bn pension fund serving Germany’s financial services industry, plans to raise its exposure to real estate to at most 8% over the long-term and is mulling an initial investment in private equity. As reported b...
