All Real Assets articles in August 2006 (Online) – Page 2
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News
Pennsylvania schools in REIT move
REAL ESTATE – The Pennsylvania Public School Employees Retirement System has allocated capital to three new REIT managers and made a commitment to a new office building investment fund. One of the new REIT managers was hired for a non-US pub...
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News
Sumitomo issues global fund in Japan
REAL ESTATE - Tokyo-based Sumitomo Mitsui Asset Management has launched a global real estate fund for the Japanese market, sub-managed by ABN Amro Asset Management. The ‘REIT-Plus’ fund is taking advantage of ABN Amro’s global r...
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News
Ohio Police & Fire to invest in two funds
REAL ESTATE - The $10.8bn (€8.4bn) Ohio Police & Fire Pension Fund has approved investments totaling $200m into two core open-ended commingled funds. Both the Strategic Property Fund and Pramerica Real Estate Separate Account (PRISA) w...
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News
Illinois Teachers eye hotels, international
REAL ESTATE - The $36.8bn (€28.9bn) Teachers’ Retirement System of the State of Illinois has approved an investment into a hotel acquisition fund and will be looking to expand into international real estate investments possibly later thi...
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News
Ex-Mn Services’ Dijkhuis sets up own firm
NETHERLANDS - Jan-Willem Dijkhuis, former director of Dutch real estate investments at asset management firm Mn Services, has set up his own consultancy firm for the financial and real estate sector. He’s teamed up with Mariëtte Meulma...
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News
Institutions 'turning to Continent'
REAL ESTATE - Pension funds and other institutional investors are turning to continental European real estate as a partial exit route from an underperforming UK market, according to Ben Stirling, head of real estate at Morley Fund Management. ...
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CalPERS could short US REITS
REAL ESTATE - The California Public Employees’ Retirement System (CalPERS) will short US REITs if the pension fund’s board agrees to a recommendation from its investment policy subcommittee. In June the investment committee agreed in ...
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News
UK coal scheme role for British Steel’s Debney
UK – LaSalle Investment Management has hired Richard Debney as European director and fund manager for the British Coal Schemes Pension Plan. Previously, Debney was head of property for the British Steel Pension Fund, where he was responsible...
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Cordea boosts European team
REAL ESTATE - Real estate fund manager Cordea Savills has boosted its London and Milan operations with specialists in Italian retail and UK student housing. Federica Bajeli joins the Italian office from Jones Lang LaSalle, where she was a retail ...
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News
BOE scheme takes 6.7% of Henderson property fund
REAL ESTATE - The Bank of England’s pension fund has acquired almost 6.7% of Henderson Global Property Investors, the fund manager. The central bank acquired the shareholding – the company’s largest – via the Securities Ma...
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News
State of Maryland hires global REIT manager
REAL ESTATE - The $34.4bn Maryland State Retirement System has selected Morgan Stanley as its global REIT manager. The pension fund took this action at its board meeting towards the end of July. The fund has awarded an allocation of up to $15...
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News
Rhode Island fund ditches direct
REAL ESTATE - The Employees’ Retirement System of Rhode Island (ERSRI) last week ditched direct investment in real estate from its $7.3bn portfolio when it sold the four-story former American Express building in Providence for $20m. State tr...
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News
Church of England to sell “greenbelt” site
REAL ESTATE - The Church of England is to sell off “greenbelt” land for the development of a 240-acre business park if a regional development agency approves a proposed regeneration scheme. Inspectors will next month advise on the pro...
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News
Oregon buys California complex
REAL ESTATE - The Oregon Public Employees Retirement Fund has bought a 232-unit apartment complex in California for $36.7m (€28.5m). It’s bought Redwood Creek Apartments in Rohnert Park via its real estate manager, General Investment a...
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News
BT pension fund ups Halladale holding
REAL ESTATE - BriTel Fund Nominees, the trustee body for the British Telecom Pension Fund, last week upped its shareholding in real estate company Halladale to just under 4%. Hamish Galpin of Hermes, which manages the pension fund, said: “W...
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CalPERS backs hotel, urban funds
REAL ESTATE – The California Public Employees Retirement System has recently invested capital into hospitality and urban investment funds. One of the investments was a $200m commitment into the TGP Hospitality Investments IV, L.P. CalPERS e...
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News
Australian schemes scout European real estate
REAL ESTATE - Australian institutional investors are scouting real estate investment opportunities in Europe because they have significantly outgrown their own domestic market. Queensland Investment Corporation, which manages the Queensland public...
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News
Workspace announces REIT plan
REAL ESTATE - Workspace, the small business landlord 3.7%-owned by Dutch civil service pension fund ABP, has told investors it would convert to a real estate investment trust (REIT) when new legislation comes in next January. Under the REIT regim...
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News
CalSTRS to invest $600m in two ventures
REAL ESTATE – The California State Teachers Retirement System has established two joint ventures where it will be investing initially $600m. One of the ventures is being called FirstCal 3, LLC. This is a deal with First Industrial Realty Tr...
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Singapore’s GIC in €300m Munich purchase
REAL ESTATE – The Government of Singapore Investment Corporation’s GIC Real Estate has bought two Munich properties from Hines for more than €300m. Its bought the new completed office properties on Georg-Brauchle-Ring, which are ...
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