Capital Raising News – Page 184
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Investors flock to DIC Asset's German office fund
GERMANY – DIC Asset has secured more than three-quarters of the €117m capital raising target for its inaugural special investment fund.
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Germany's BVK sells Paris office after 10 years of ownership
EUROPE – German pension fund Bayerische Versorgungskammer (BVK) has sold a Paris office building that it has owned for 10 years.
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Texas Employees commits $60m to value-added fund
GLOBAL – The Employees Retirement System of Texas has made a $60m (€43m) commitment to the Madison International Real Estate Liquidity Fund IV.
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VastNed Retail builds up Turkish portfolio to €90m
TURKEY – Pan-European retail property fund VastNed Retail has acquired its seventh prime high street shop in the heart of Istanbul, taking its total investment in Turkey to €90m.
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Deutsche Bank's RREEF buys industrial portfolio in US Pacific Northwest
GLOBAL – RREEF, the real estate investment management business of Deutsche Bank's Asset Management division, has acquired the 940,654 square foot Kent Valley Industrial Portfolio in Kent and Tukwila, Washington.
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Texas Teachers-backed property fund makes first investment
GLOBAL – An office building investment fund backed by the Teacher Retirement System of Texas has completed its first investment.
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Norway's Pension Fund Global Fund makes first foray into real estate
EUROPE – Norges Bank has made its first real estate investment for the Norwegian Government Pension Fund Global, acquiring a 25% stake in The Crown Estate's Regent Street portfolio in London.
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Ignis launches separate real estate arm, appoints Hutcheson as MD
UK – Ignis Asset Management has launched a standalone real estate business following inflows of more than £800m (€923m) into its existing property funds in 2010.
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CPPIB, LaSalle join forces on German shopping centre
GLOBAL – DEGI Europa, the open-ended real estate fund in the process of liquidating its assets, has sold a shopping centre in Germany for €157.3m to the Canada Pension Plan Investment Board (CPPIB) and LaSalle Investment Management.
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APG joins group aiming to take over ING's €850m industrial portfolio
GLOBAL – Algemene Pensioen Groep (APG) is one of a number major global investors – also believed to include Canada Pension Plan Investment Board (CPPIB) and China Investment Corporation (CIC) – seeking to acquire a A$1.2bn (€846m) industrial portfolio from ING Real Estate Investment Management.
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Maine approves $75m allocation to debt fund
GLOBAL – The Maine Public Employees Retirement System has approved a $75m (€54m) commitment to the Prima Mortgage Investment Trust (PMIT), aiming to take advantage of a lack of debt players in the market.
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Illinois Municipal hires Cornerstone, INVESCO for core strategy
GLOBAL – The Illinois Municipal Retirement Fund has hired Cornerstone Real Estate Advisers and INVESCO Real Estate as core open-ended commingled fund managers.
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Helical Bar, Thameling join central European development drive
EUROPE – Helical Bar and Thameling Group have joined forces to develop pre-let warehouse and distribution properties in central Europe.
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Investors back Sveafastigheter Nordic opportunity fund
SWEDEN – Sveafastigheter, the Stockholm-based private equity real estate fund manager, has made a second closing on its new Nordic opportunistic fund.
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Former WP Carey colleagues launch global sale-and-leaseback venture
GLOBAL – Gordon DuGan and three other former W P Carey executives have launched a new investment company that will specialise in sale-and-leaseback real estate deals.
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Unilever Progress selects core Aberdeen product as it moves into funds
NETHERLANDS – Progress, the Dutch Unilever pension fund, has committed €35m to a core pan-European real estate fund managed by Aberdeen Property Investors.
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Pramerica targets Polish warehouse developments with Panattoni
EUROPE – Pramerica Real Estate Investors has entered into a joint venture with Panattoni Europe to develop a portfolio of as much as €100m of logistics warehouses in Poland, Czech Republic and Slovakia.
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BP Pension Fund's Cubemaker joint venture buys ITV assets
UK – Cubemaker Partnership, the joint venture between the BP Pension Fund and Cube Real Estate, has acquired three commercial real estate assets from television company ITV for £11.3m (€12.9m).
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Poland back on the agenda for Germany's NAEV
EUROPE – German pension fund Nordrheinische Ärzteversorgung (NAEV) is considering returning to the Polish real estate market after having divested and taken profits from the region in recent years.
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First Property wraps up USS mandate, returns to Poland
POLAND – First Property Group has returned to its previous business model of launching successive Polish opportunity funds, having concluded its mandate with the Universities Superannuation Scheme (USS).
