All articles by Barbara Ottawa – Page 13
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News
Financial crisis will affect 2008 result – IVG
GERMANY – While real estate asset manager IVG and some of its competitors reported record earnings for 2007, the companies there will fear the financial crisis will have a major impact on this year's results.
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MagazineSeize the opportunity
Austrian pension funds are adopting a strategy of broadening the investment horizon in terms of regions and vehicles. Barbara Ottawa reports
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MagazineFinding the right mix
Inflows into Germany’s so-called real estate Spezialfonds are slowing; the new G-REIT has been disappointing. Meanwhile changes to the investment law can’t come soon enough. Barbara Ottawa reports
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CA Immo postpones G-Reit
AUSTRIA/GERMANY – The €3.5bn Austrian real estate company CA Immo has decided to postpone the launch of a German Reit because of current market conditions.
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French institutions to diversify real estate
FRANCE – As much as 60% of French institutional investors will diversify their real estate portfolios either geographically or into different investment strategies, the ratings firm MultiRatings has found.
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IVG doubles returns
GERMANY – German listed real estate company IVG said preliminary result for 2007 are more doubling its return on the previous year at €290m, despite the continuing sub-prime lending crisis.
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Aberdeen triples German property assets
GERMANY/UK – Aberdeen Property Investors Holdings has acquired German property investement group DEGI for a cash consideration of approximately €110m.
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NAEV to cut direct real estate
GERMANY – The €8.5bn doctors’ fund Nordrheinische Ärzteversorgung (NAEV) will cut its direct real estate holdings in Germany in an overhaul of its property investments.
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Henderson names first German client relationship team
GERMANY – Sylvia Seeger has been named as the first German-language client relationship manager at Henderson’s German operations in Frankfurt.
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PwC to advise Norwegian fund on real estate
NORWAY – The Oslo-based branch of PricewaterhouseCoopers (PwC) has been awarded the contract to advise the NOK2trn (€250bn) Norwegian government pension fund on tax issues related to real estate investments.
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ING real estate wins £100m Welsh mandate
UK – The GBP1.3bn (€1.9bn) Rhondda Cynon Taf council pension fund has awarded a £100m UK property mandate, with possible exposure to other European markets, to ING Real Estate Investment Management.
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SBB sells 9,800m2 to fund pensions
SWITZERLAND - The Swiss federal railways SBB has sold another one of its real estate holdings under its funding promise to the SBB pension fund.
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Berkshire trades direct property for fund
UK - The £1.4bn (€2.1bn) Berkshire pension fund has made a £15m investment into BlackRock's UK property fund.
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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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Real estate boosts ING's assets
GLOBAL – Dutch banking group ING saw the assets under management in its real estate division increase by 37% to €74.7bn over the last year. The "ongoing demand for property investment funds at ING Real Estate" led to strong i...
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IPE-QUEST: $100m REIT mandate
NETHERLANDS – A Dutch institutional investor is looking for a real estate manager via IPE-Quest. The mandate is for an active $100m (€73.8m) US and Canada real estate mandate benchmarked against the FTSE EPRA NAREIT North America TR In...
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Strathclyde seeks property valuer
UK – The £9.6bn (€14.1bn) The Strathclyde pension fund for Glasgow County Council is looking for a new independent property portfolio valuer. As its five-year contract with the current service provider Collier is coming to an end...
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Austrian Immoeast lists in Warsaw
AUSTRIA-POLAND – The Austrian real estate company Immoeast plans to list on the Warsaw stock exchange in a bid to attract more capital from investors including pension funds. As part of a major capital raising of €3bn, the company wil...
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Norwegian fund reveals property investment regions
REAL ESTATE – The Norwegian finance ministry has issued a tender for a company to draft a report on tax issues relating to investments in real estate and infrastructure in 32 markets outside Norway. The report, which is required by mid-June,...
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German Upper House wants housing REITS
REAL ESTATE – The Bundesrat, the Upper House of the German parliament, has opposed excluding municipal housing from German REITs, which are to be introduced next year. The representatives of the German provinces argued that an exclusion of ...
