All Real Assets articles in December 2008 (Online)
View all stories from this issue.
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NewsOhio PERS looks to 2009
UNITED STATES - Ohio Public Employees Retirement System has approved an annual real estate investment plan for 2009 which will see some fresh investments but will eventually lead to more properties being disposed of.
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NewsEurex sets the date for property futures
EUROPE – Eurex, the derivatives exchange, is to launch Europe’s first property futures in February 2009, despite the economic turmoil.
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NewsOhio Police and Fire quenches real estate blaze
UNITED STATES - Ohio Police and Fire Pension Fund has found it can only allocate $50m (€36.1bn) to real estate investing for the entire of 2009.
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NewsCalSTRS joint venture gains new financing
US – First Industrial, the North American Real Estate Investment Trust (REIT), has arranged a new $110m (€78.6m) debt facility for its ventures with the California State Teachers’ Retirement System (CalSTRS).
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NewsProLogis steps up to support European Properties
US – ProLogis, the international logistics developer, has stepped in to help ProLogis European Properties (PEPR) by buying a 20% interest in the ProLogis European Properties Fund II (PEPF II).
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NewsDTZ goes for share-raising or bust
GLOBAL – DTZ is planning to raise up to £55m (€59.2m) of equity through new shares in a bid to help the company survive the economic downturn and avoid going into administration.
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NewsBritish Land fills top role
UK- British Land, the second-largest Real Estate Investment Trust in the UK, has appointed Chris Grigg, former Barclays chief executive, as its CEO.
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NewsPension funds could snap up UK airports
UK – Pension funds could be in the running to buy Gatwick, Stansted and Edinburgh airports as the Competition Commission has announced the British Airport Authority (BAA) must sell to generate greater competition and improve its service standards across UK airports.
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NewsCPPIB buys into Turkish retail
CANADA - The Canada Pension Plan Investment Board (CPPIB) has invested €250m of equity in a Turkish retail fund.
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NewsNAREIM fears loss of carried interest CGT
US – The National Association of Real Estate Investment Managers (NAREIM) fears the new US presidential administration will make changes to the way carried interest is taxed and make real estate a less attractive investment and deterring entrepreneurs from taking risks.
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NewsFees transparency is improving - INREV
GLOBAL– European non-listed real estate funds are rapidly making their fee structures more transparent for investors and fund managers, according to the latest research by the European Association for Investors in Non-listed Real Estate (INREV).
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NewsReal estate consultant folds Spanish offices
SPAIN – King Sturge España, the Spanish subsidiary of British property consultants, King Sturge, has filed for administration this week.
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NewsInvestment options widened by CalPERS
UNITED STATES - California Public Employees Retirement System has approved a temporary new allocation range for real estate, and selected consultants for both timberland and infrastructure investing.
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NewsCalPERS fills the top slot
US – The California Public Employees’ Retirement System (CalPERS) has appointed Anne Stausboll as the pension fund’s new chief executive officer (CEO).
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NewsIowa PERS withholds new capital
UNITED STATES - Iowa Public Employees Retirement System has decided not to allocate any new capital for real estate investing into the 2009 calendar year.
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NewsUS investors are feeling the pressure - PwC
US – Investor sentiment around North American commercial real estate has plummeted following further weakening of the industry, according to PricewaterhouseCoopers.
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NewsREITs still look attractive, claims EPRA
GLOBAL – Real Estate Investment Trusts (REITs) will continue to be attractive investment vehicles for institutional investors and grow internationally despite the sharp economic downturn, according to the European Public Real Estate Association’s (EPRA’s) latest survey.
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NewsPru relocates its real estate divisions
US - Prudential Financial is integrating its Real Estate and Relocation businesses as Prudential Real Estate and Relocation Services Inc, in a bid to streamline the firm’s business and operational services.
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NewsUBS halts property fund redemptions
SWITZERLAND – Swiss bank UBS has frozen its $6bn (€4.4bn) global property fund because it could no longer handle the high number of redemption requests.
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NewsIcade REIT considers residential sale
FRANCE - Icade, a subsidiary of Caisse des Dépôts and one of the largest Real Estate Investment Trusts (REIT) in France, is considering selling its entire housing unit.
