All Europe articles – Page 411
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News
Pirelli deal confirms off-market orthodoxy
ITALY - Off-market deals will be the default for institutional investors in Italy, according to Deutsche Bank subsidiary RREEF, after it leveraged a long-standing relationship with Pirelli to secure a prime Milan office block for €100m.
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Pennsylvania Public School to invest $641.5m into real estate
UNITED STATES - Pennsylvania Public School Employees’ Retirement System intends to allocate up to $641.5m (€436.1m) in new real estate investments through a variety of commingled funds, in a bid to tap advantages thrown up by the credit crisis.
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Student firm offloads assets worth €307m
UK - Unite, the UK student accommodation firm 4.5% owned by Dutch civil service scheme ABP, last week sold £220.3m (€308m) of assets to the UK Student Accommodation Fund (USAF), in a move designed to fund its growth.
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Protego blames media panic for halted redemptions
EUROPE – Protego has become the latest real estate investment house forced to suspend redemptions last week, placing a one-year moratorium on investors pulling out of its UK property fund.
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UK market ‘will pick up by spring’
UK - Disagreement has emerged between real estate investment houses over the timing of the UK property market recovery.
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Enfield mulls real estate update
UK – Concerns about the performance of the UK and European property markets mean the London Borough of Enfield is now looking closely at whether to further diversify its pension fund’s real estate allocation.
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Concerns raised as returns drive pensions diversity
GLOBAL - The argument for global diversification is becoming more compelling, but institutional investors are often simply investing according to total return expectations, say industry experts.
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Philips scheme dismantles real estate portfolio
NETHERLANDS – The besieged €14.6bn pension scheme of Dutch electronics major Philips has sold around 15% of its real estate holdings to Dutch real estate investment fund Vesteda.
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NAEV to cut direct real estate
GERMANY – The €8.5bn doctors’ fund Nordrheinische Ärzteversorgung (NAEV) will cut its direct real estate holdings in Germany in an overhaul of its property investments.
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Spikker leaves PGGM for ABP
NETHERLANDS - PGGM’s Hans Spikker is to join ABP at the end of 2007 as manager of its non-listed European real estate portfolio.
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Henderson names first German client relationship team
GERMANY – Sylvia Seeger has been named as the first German-language client relationship manager at Henderson’s German operations in Frankfurt.
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ATP to increase property allocation against inflation
DENMARK - ATP, the DKK438bn (€59bn) Danish Labour Market Supplementary pension fund, is to increase its property and infrastructure allocation to half of its inflation-protected portfolio.
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CEE ‘more stable than Europe elsewhere’
EUROPE - Central and Eastern Europe is not immune from the effects of the global credit crisis according to Eurohypo, despite claims the region is insulated from global shocks.
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Risk-conscious investors take the road to Berlin
GERMANY - Germany has overtaken France and the UK as the primary mature European target market for overseas and domestic real estate investors, according to research.
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Jelmoli ups ante in Swiss saga
EUROPE - In the latest round of an aggressive game of brinkmanship, Swiss retailer Jelmoli is to sue Delek for breach of contract after the London-listed Israeli property firm’s pulled out of a deal to acquire Jelmoli’s 88-property Swiss portfolio.
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Real estate sought through IPE-Quest mandate
SWITZERLAND – A search has been launched for an investment manager to look after a €10m European real estate mandate, using IPE Quest.
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MagazinePrivate funding on the world stage
Governments worldwide have followed the UK’s lead in opting for private funding of public infrastructure. Christine Senior reports
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MagazineRoads taking their toll
Road congestion and the establishment of a European transport network may make toll roads more commonplace. Paul Strohm reports
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News
Two in three funds eye real estate
NORDICS - Nearly two-thirds of pension funds in Norway, Sweden and Denmark intend to invest in non-listed real estate in the future, according to a survey by Lymos BV Real Estate Capital Advisors.
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ABP advised to sell Corio
NETHERLANDS - Dutch pension fund ABP should sell its 37% share in Corio to one of the developers circling the Dutch real estate firm, according to sector analysts.
