All Real Assets articles in August 2007 (Online)
View all stories from this issue.
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News
Unibail-Rodamco prepares post-merger management
NETHERLANDS - Unibail-Rodamco is almost ready to announce its top 50 management structure as its integration efforts are now on track, the €23.9bn property investor has said.
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Low returns fail to deter core pension fund investors
UNITED STATES – Some US pension funds are still willing to invest a portion of their capital in core real estate despite returns being at an all-time low, according to consultants Townsend Group.
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CalPERS to rest capital in global hotels
UNITED STATES – California Public Employees Retirement System is planning to tap into the tourism trade next year with the development of a global hotel investment platform.
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Milan buys flags future for Euro-office
ITALY - Segro, the serviced office firm, has acquired a Milan business park for €84.5m from fund manager Europa Capital Partners – a beachhead in a market segment known for the difficulty of cross-border investment.
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Austrian property "like the UK, but cheaper"
AUSTRIA - Austrian property firms will largely escape the sub-prime crisis and remain immune to interest rate rises, according to a report from Raiffeisen bank.
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Protego taps Almquist to head Nordic growth
SWEDEN - Protego Real Estate Investors has revealed it is expanding into the Nordic market with the appointment of Lars Almquist to head its new Stockholm office.
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TIAA-CREF sales push draws Alaska hire
UNITED STATES - TIAA-CREF Asset Management has signaled plans for a major institutional business drive with the expansion of its sales team and three key appointments.
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Virginia adds to global REIT trend
UNITED STATES – Over $1bn (€750m) of pension funds has been committed to global REITs strategies over the last two weeks, following Virginia Retirement System’s decision to invest new money.
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CPP acquires Euro logistics
CANADA - The C$120bn (€83.5bn) Canada Pension Plan Investment Board has invested €400m in European distribution via a fund set up by US logistics firm ProLogis.
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Schroder hires ABP’s Bingen
EUROPE - Former ABP portfolio manager Rob Bingen will join Schroder Property in October as head of its €2.2bn European property multi-manager operation.
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UK property investors divest €8bn
UK - Institutional investors continued the exodus out of the UK domestic market in the first half of 2007, and became net sellers with divestments worth €8.7bn.
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Ohio PERS to sell $1bn in real estate
UNITED STATES – Strong interest in real estate acquisitions has promoted Ohio Public Employees Retirement System to spend the remainder of 2007 working on the sale of $1bn (€741.2m) in real estate assets.
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CalPERS considers major real estate emigration
UNITED STATES – The California Public Employees Retirement System is thinking of expanding overseas and moving its international real estate allocation from its current 20% level to a 50% weighting.
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Morley set for European growth
EUROPE – Morley is looking to boost its business in Europe further with 'more people on the ground' and a potential eastward expansion of its property business.
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Neste scheme may invest abroad
FINLAND - The Finnish Neste Oil pension fund said it is considering investing outside its domestic property market as it looks towards completion of three new buildings in Keilaniemi, Espoo, to house its sponsor.
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Brussels yields remaining deals
BELGIUM - ING Real Estate has entered the Brussels office market with the €22m acquisition of two recently refurbished and fully-let prime office buildings.
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'Strategic' greenfields tap into residential potential
UK – Pension funds seeking slightly higher returns on real estate portfolios are being encouraged to turn their attention to ‘strategic land’ investments in greenfield developments.
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Allianz raises €1.3bn in IVG leaseback
GERMANY – IVG Immobilien, Germany’s biggest listed property firm, has acquired €1.3bn worth of office properties in Germany from insurance giant Allianz to be included in an upcoming German real estate investment trust (G-REIT).
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Oregon PERF to increase real estate presence
UNITED STATES - Oregon Public Employees Retirement Fund has moved its targeted allocation for real estate from 8% to 11%, giving the pension fund an extra $1.8bn (€1.3bn) of new capital to invest.
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More US pension fund capital heads for global REITs
UNITED STATES - Massachusetts Pension Reserves Investment Management Board and Wisconsin State Investment Board have become the latest pension funds in the United States to plan a global REIT strategy.
