All Real Assets articles in December 2005 (Online)
View all stories from this issue.
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News
Industry in wait-and-see stance on UK REITS
UK - Reaction to the outline real estate investment trust proposals last week has been muted - with many industry specialists adopting a wait-and-see approach. Gareth Lewis, director of finance and investment at the British Property Federation (BP...
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Deutsche facing DB Real Estate lawsuits
GERMANY – Deutsche Bank was last Friday scrambling to contain the dual threat of damage to its image and lawsuits following an unprecedented closing of its €6.1bn German real estate fund earlier in the week. According to Deutsche, inve...
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Rodamco to expand to Central Europe
NETHERLANDS – Retail investment company Rodamco Europe is planning to double its properties in Central Europe, it said. In order to reach its goal, it will be looking at expansion in its existing markets – the Czech Republic, Poland, H...
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Fidelity nabs Cable for real estate push
EUROPE - Fidelity International has hired Neil Cable to drive its entry into the European real estate market. Cable, who joins as Fidelity’s head of real estate in January, will spearhead the firm’s attempt to exploit what it predicts...
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Rabobank eyes Bouwfonds amid muted interest
NETHERLANDS - Rabobank says it may bid for ABN Amro’s property development subsidiary Bouwfonds when it comes up for sale in 2006. Bank spokesman Ernst Moeksis said the bank would not rule out a bid for the Netherlands’ largest reside...
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Switzerland’s AFIAA plans US move
US - AFIAA-REIM, a leading investment advisor for state pension funds in Switzerland, is looking to become a bigger player in US real estate investment. The company would like to place $500m in the country over the next 12 to 18 months. AFIAA is a...
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Iowa scheme issues $360m in commitments
US - The Iowa Public Employees Retirement System (IPERS) has approved new commitments to its separate account real estate managers to the tune of $359.2m (€299.4m). IPERS now works with five separate account managers. These are Clarion P...
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CB Richard Ellis Investors raises $1.18bn
US - CB Richard Ellis Investors (CBREI) has raised $1.18bn (€984m) from 33 investors for its latest commingled fund: CB Richard Ellis Strategic Partners US IV, L.P. The fund was oversubscribed with an original target raise of $800m-$900m. ...
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Colonia buys 1,600 Hamburg apartments
GERMAN - Colonia Real Estate AG has bought roughly 1,600 apartments in the Hamburg area for less than €40m. The Cologne-based firm said it acquired the residential portfolio through its wholly owned subsidiary CRE Wohnen GmbH. It’s...
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Scramble for Hong Kong REIT offerings
HONG KONG - A cartoon in Hong Kong’s South China Morning Post sums up the mood. While property agents are having a quiet time after the recent residential market boom, there is a buying frenzy on the stock market as investors scramble for share...
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Townsend and Watson in US real estate tie
US - The Townsend Group is to provide real estate consulting services to clients of investment consultant Watson Wyatt in the US. Under the deal Townsend will be the exclusive real estate contractor to Watson Wyatt Investment Consulting. It will p...
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Sal. Oppenheim poaches Ernst & Young team
SWITZERLAND – Ernst & Young’s entire real estate team moved to the newly established Sal. Oppenheim jr. & Cie. corporate finance division on December 1. The team formed part of the larger EY corporate finance business unit, inc...
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Dubai set for new real estate law
DUBAI - Dubai could have a new real estate law by the end of the year, according to a senior officer at government-owned developer Dubai Properties. Haiyan Mujarjech says the law, designed to encourage greater foreign investment in the emirate, h...
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Dutch schemes in deal with Altera Vastgoed
NETHERLANDS – The Stork and PNO Media pension funds are to transfer their €90m Dutch real estate portfolio to, and become shareholders in, real estate group Altera Vastgoed. The funds will become shareholders in Altera and its four sec...
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Canada Pension Plan makes €600m retail buy
CANADA - The Canadian Pension Plan Investment Board (CPPIB) has bought two large shopping centres in Quebec: the Galeries de la Capitale in Quebec City and Carrefour de L'Estrie in Sherbrooke. The value of the deal was confidential but Land Regist...
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Bulgarian developer aims to raise €59m
UK – Bulgarian Property Developments – which focuses on property developments, trading and investment – is planning to raise up to £40m (€59.4m) through the placing of new shares to capitalise on its existing six-site pro...
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CalPERS, LaSalle in $3.4bn Chicago deal
US – The California Public Employees' Retirement System and LaSalle Investment Management are to buy Chicago-based real estate investment trust CenterPoint Properties Trust in a $3.4bn deal. CalEast Industrial Investors – whose members...
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€242m Arlington sells to Macquarie Goodman
UK - The Australian Macquarie Goodman group is acquiring UK-based Arlington Securities in a deal to be completed on December 23. The transaction values the Arlington business at £163m (€242m). A spokesman claimed the companies were att...
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Investors pull €1.5bn from Deka
GERMANY – Deka Immobilien Investment, Germany’s leading provider of real estate funds, saw its three flagship funds hit by almost €1.5bn in investor outflows during the first nine months of 2005. The three funds, targeted mainly ...
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NAEV wins IPE award for property investment
A medical pension fund from North Rhine Westphalia in Germany has won the themed award for property investments at the fifth annual IPE Awards in Berlin. Nordrheinische Aerzteversorgung (NAEV) triumphed amid a strong field of contenders for the a...
