All Europe articles – Page 380
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News
Merged Immofinanz dismisses Warsaw listing
EUROPE – The merger of the Austrian real estate companies Immofinanz and Immoeast has been approved by the shareholder meetings but the new joint Immofinanz is unlikely to replace Immoeast on the Warsaw stock exchange.
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Dutch pensions funds reduce direct property by €3.5bn
NETHERLANDS - The combined direct property investment of Dutch pension funds has decreased significantly, but schemes are still interested in holding office buildings, according to the Dutch regulator De Nederlandsche Bank.
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ICL pension plan moves into real estate
UK – The ICL Common Investment Fund, the investment vehicle for the ICL pension fund, made its first allocation to real estate in 2009, and invested £33m (€37.3m) through ING Real Estate Investment Management.
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News
Alecta outsources French real estate management
SWEDEN – The asset management arm of Swedish occupational pensions mutual Alecta is to transfer the management of its real estate portfolio in France.
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News
M&G checks real estate assets into Premier Inn
UK – M&G Investments has acquired five Premier Inn hotels for its Secured Property Income Fund, which offers inflation-linked income to institutional investors, including UK pension schemes.
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New arrival to pursue European deals for OMERS
GLOBAL – Oxford Properties, the real estate division of Canadian pension fund OMERS, has appointed Simon Marriott to lead its European investment programme as it gears up to make its first acquisitions in the UK since 2007.
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Pension funds consider shift back into property
EUROPE – European and North American pension funds are planning to increase investments in real estate over the coming year and the majority of schemes are reviewing external managers, an asset allocation survey has suggested.
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Strathclyde pension fund buys BREEAM green office
UK – The Strathclyde Pension Fund has purchased a sustainable office development in Glasgow, which is seen as the first building in the city to achieve a BREEAM (BRE Environment Assessment Method) ‘excellent’ status.
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Hermes swoops on property for BT
UK – Hermes Real Estate has acquired a series of commercial properties, known as the ‘Hawk’ portfolio, on behalf of the BT Pension Fund.
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CPPIB joint venture pursues forced retail sale
CANADA/UK - The Canada Pension Plan Investment Board (CPPIB) has entered into a joint venture with UK property company Hammerson to take advantage of the forced sale of a prime UK retail asset.
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News
Varma agrees deal for Kesko retail stores
FINLAND – Varma Mutual Pension Insurance Company has entered into a sale and leaseback arrangement with The Kesko Group for 13 its stores, including one owned by the retailer’s pension fund.
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HSBC Pension Fund sells UK real estate holding
UK – The HSBC Pension Fund has sold Wilmslow Park in central Manchester to Legal & General (L&G) Property’s Managed Fund.
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UK’s Merchant Navy Pension rebalances real estate
UK – The Merchant Navy Officers Pension Fund (MNOPF) has sought to rebalance its UK real estate portfolio and sold three commercial real estate assets in the UK, for almost a third more than recent valuations.
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News
BP pension fund and GPE buy a piece of London’s Regent St
UK – F&C REIT Asset Management and AREA Property Partners have sold one of the top assets from the Dawnay Day portfolio they acquired in March to the BP pension fund and Great Portland Estates (GPE).
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Merchant Navy sells Waitrose property (amended)
UK – Wilky Fund Management has sold a Waitrose supermarket store in Cheadle Hulme on behalf of the Merchant Navy Officers Pension Fund, which is considering reducing its real estate exposure.
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News
IVG moves out of direct German property management
GERMANY – The IVG real estate group is slimming down its operations and transferring its German property management activities to third parties following a bidding process.
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Internos pays €2 for GPT Halverton
EUROPE – Internos Real Investors, the fund manager founded by Jos Short and Andrew Thornton, has acquired GPT Halverton (GPTH), giving it an established European investment platform.
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Meulenbelt to step into Cooper’s shoes at ING RE
GLOBAL – Jan Meulenbelt has been announced as the replacement for Nick Cooper, who is leaving as global head of ING Real Estate Select - the global multi-manager business he helped established.
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News
Prupim secures derivatives marker for real estate
UK – Prupim, the real estate division of UK life assurer Prudential, has executed a series of UK property derivatives valued at more than £100m (€110m).
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Magazine
Join the club
From next year property industry associations in Asia and Europe will begin recruiting pension fund members. But why should they join? Shayla Walmsley reports
