Daniel Brooksbank
- News
West Sussex reviews real estate
REAL ESTATE – The £1.5bn (€2.2bn) West Sussex County Council Pension Fund is reviewing its property mandate with Cushman & Wakefield Investors due to contract expiry. "The council is reviewing the arrangements for the ...
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Irish reserve fund’s real estate chief departs
REAL ESTATE - Ian Gleeson, head of property at Ireland’s €18.8bn National Pensions Reserve Fund, is to join Morley Fund Management. It was not immediately clear what the departure would mean for the NPRF’s target of allocating 8%...
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EU sets up real estate expert group
REAL ESTATE – The European Commission has decided to set up an expert group to advice it on open-ended real estate funds. "The group will advise the Commission on how to improve the European market for these funds and on whether EU-lev...
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Schroders buys German real estate manager
REAL ESTATE - Schroders says it has agreed to buy German real estate asset manager Aareal Asset Management GmbH for an initial £18.8m (€28m) from Aareal Bank. Wiesbaden-based AAM has €1.9bn in assets under management and manages s...
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Land Securities converts to REIT
REAL ESTATE - Land Securities has confirmed that it is to convert into a Real Estate Investment Trust on January 1 next year following its Extraordinary General Meeting. It said 99.1% of shareholders backed the decision. The conversion will result...
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German insurer Gerling in residential sell-off
REAL ESTATE – German life insurance group HDI Gerling has sold more than 2,600 residential units to Patrizia Immobilien for around €300m. Patrizia said it bought the portfolio – comprising 2,737 residential and commercial units &...
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New real estate investment bank launched
REAL ESTATE – A new real estate investment bank has been launched by former executives at HSBC and Jones Lang Lasalle. "We announce the establishment of Lowndes Partners, LLP an independent investment bank specialising in financial adv...
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Institutions must embed SRI for real estate – UN
REAL ESTATE – The United Nations has called for real estate investors to consider the environment when they make portfolio decisions. The UN’s Environment Programme Finance Initiative has launched a working group on responsible propert...
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Ernst & Young names real estate head
REAL ESTATE – Ernst & Young have named Dean Hodcroft as its new head of Real Estate, Hospitality and Construction (RHC). After 18 years with the firm, Hodcraft, 39, will now lead the 1,000-strong group for the UK and NEMIA region - which...
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Real estate ripe for global investment - Schroders CIO
REAL ESTATE – The real estate market is "ripe" for a more global investment approach, says Schroders’ investment chief Alan Brown. "We have indeed seen a global property boom that has spread to many parts of the world...
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IPE-QUEST: Dutch pension fund tenders real estate
NETHERLANDS – A Dutch industry-wide pension fund has tendered a c.€75m euro zone real estate mandate via IPE-Quest. The search (QN676) states: "The client is looking for a manager for an active (low risk) real estate mandate. The...
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Mercer: patience a virtue in infrastructure
REAL ESTATE – Investment consulting firm Mercer is telling its pension fund clients that patience and due diligence are virtues when it comes to investing in infrastructure. "Our advice to investors is be patient," said senior as...
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USS backs new student housing fund
REAL ESTATE - The Universities Superannuation Scheme is among the institutional backers for a new £515m (€764m) student accommodation fund being launched by real estate firm Unite Group. Unite said the new UK Student Accommodation Fund ...
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CBRE Investors names Tokyo MD
REAL ESTATE - CB Richard Ellis Investors has named Steven Bass, formerly CEO of Macquarie Properties Japan and previously Director of Acquisitions at CB Richard Ellis Investors Japan, has re-joined the firm as managing director based in Tokyo. I...
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British Airways pension fund sells property
UK – A British Airways pension fund has sold a retail property in Stoke, central England, for £14.3m (€21.2m). Warner Estate Holdings said its Radial Distribution Fund joint venture with Bank of Scotland has bought Radial Point, r...
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Belgium sells off military real estate
REAL ESTATE – The Belgian government is planning to sell off an “important” piece of its defence real estate – a plot of land containing officer accommodation. The Ministry of Defence’s Central Service for Social an...
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Chicago school fund eyes international
REAL ESTATE – The $10.9bn (€8.5bn) Public School Teachers' Pension and Retirement Fund of Chicago is considering amending its real estate exposure, according to fund documents. At its last trustee meeting on August 17 executive directo...
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Idaho fund in $18m Arizona purchase
REAL ESTATE – The $9.9bn (€7.75bn) Public Employee Retirement System of Idaho, or PERSI, was last week involved in the $18m purchase of an office building in Scottsdale, Arizona following the vendor’s liquidation. PERSI and the C...
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IPE-QUEST: Swiss institution tenders real estate
REAL ESTATE – Swiss investment consultant Kieger AG has tendered two real estate mandates for one of its institutional clients via IPE-Quest. Up to $50m is being tendered via two searches (QN659 and QN660). They are not connected to search Q...
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Warwick fund puts €75m into real estate
REAL ESTATE - Warwickshire County Council has tendered for up to £50m (€75m) in real estate for the £1bn Warwickshire Pension Fund. It’s also putting a similar amount out to tender for fund of hedge funds. The fund, which ...
