All Real Assets articles in August 2009 (Online)
View all stories from this issue.
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NewsState of Florida shifts remaining MS account to Pramerica
UNITED STATES – The Florida State Board of Administration has appointed Pramerica Real Estate Investors to manage the last 15% of a separate account previously managed by Morgan Stanley Real Estate.
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NewsNYSTRS adds to mortgage portfolio
UNITED STATES - New York State Teachers Retirement System has expanded its mortgage portfolio with two recent transactions totaling $130m (€90.6m).
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NewsIllinois Teachers allocates money to cover debt issues
UNITED STATES - The Teachers Retirement System of the State of Illinois has become one of the first pension funds in the United States to allocate funds to a separate account manager to cover possible debt issues.
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NewsMass PRIM cuts real estate to grow timber
UNITED STATES - Massachusetts Pension Reserves Investment Management Board has decided to lower its allocation to real estate from 11% to 10% and double the size of its allocation to timber from 2% to 4%.
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NewsFinnish pensions land airlines among property
FINLAND – Nordea Life Assurance Finland, Varma Mutual Pension Insurance and Valtion Eläkerahasto (VER) , the Finnish State Pension Fund, have invested in four airport properties in Finland through their NV Property Fund joint venture.
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NewsAustralian real estate plans route out of recession
AUSTRALIA – The Property Council of Australia has put together a blueprint for the real estate investment industry, to lead the sector beyond the current downturn.
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NewsUSS expands industrial holdings
UK – The £28bn (€31.7bn) Universities Superannuation Scheme continues to rebuild its domestic real estate portfolio by purchasing a portfolio of industrial assets measuring 2.9 million square feet for £196m (€226m), reflecting a yield of 8.7%.
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NewsHigh risk real estate is too much for Quebec
CANADA – The Caisse de dépôt et placement du Québec has revealed the value of its real estate portfolio had fallen by C$4bn (€2.57bn) by the end of June 2009, and it is no longer investing higher risk real estate debt.
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NewsInvestment houses talk up UK property prospects
UK – Prupim has revised its forecast for the UK commercial property market as yields are beginning to stabilise, and Aberdeen Property Investors is predicting UK real estate will outperform its continental counterparts over the next five years.
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NewsNational Grid pension considers UK real estate
UK – The National Grid UK Pension Scheme has invested approximately £70m (€81m) in UK real estate this year and its advisers expect to commit a similar amount again during the second half of this year and in 2010.
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NewsCPPIB and GIC turn to Brazilian real estate
AMERICAS – The Canada Pension Plan Investment Board (CPPIB), investment manager of the $105bn (€73.9bn) Canada Pension Plan, has entered into a joint venture with Brazilian property developer Cyrela Commercial Properties (CPP) to invest in commercial real estate in Brazil.
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NewsCalSTRS eyes increase to real estate allocation
UNITED STATES - California State Teachers Retirement System is thinking of approving a new long-term allocation to real estate.
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NewsForeign investor interest in Dutch real estate on the rise
NETHERLANDS - Foreign investors are returning to the Dutch property market, according to the Dutch financial supervisor De Nederlandsche Bank (DNB).
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NewsOregon lies in wait for real estate bargains
UNITED STATES - Oregon Public Employees Retirement Fund has decided not to make a specific allocation to real estate over the next 12 months, but officials have not ruled out purchases should opportunities surface.
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NewsIVG stays in the red as Patrizia gains
GERMANY – German real estate company IVG posted another net loss in the second quarter of this year, but competitor Patrizia has reported a small net profit.
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NewsKEL pension moves into office space
UK – The pension fund of UK-based software company KEL has acquired a UK office for £2.81m (€3.29m).
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NewsIlmarinen eyes potential in indirect real estate
INLAND – The Ilmarinen Mutual Pension Insurance Company in Finland has identified four main areas of opportunity to investigate in its bid to increase its indirect real estate exposure, including ‘secondaries’ and infrastructure.
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NewsCanadian pension fund develops Chinese connection
CANADA/CHINA – The Canada Pension Plan Investment Board (CPPIB), investment manager of the $105bn (€73.9bn) Canada Pension Plan, has entered into a joint venture (JV) with Goodman Group to own and develop logistics assets in mainland China.
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NewsCBRE predicts UK property turn
UK/EUROPE – The commercial real estate market in the UK "finally turned the corner" in July, according to CB Richard Ellis, as its monthly index recorded positive total returns for the first time since June 2007.
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NewsTexas Teachers capitalises on REITs
UNITED STATES - Teacher Retirement System of Texas is making new investments of its capital in public real estate as the sector is said to be showing signs of good returns.
