Europe – Page 445
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MagazineFortress Norway
Although relatively resilient, Norway has been unable to avoid an overheating property market. And now the country’s biggest investor is about to test the water, as Gail Moss reports
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Magazine
Safe as houses
Domestic real estate is still the safe option for Finnish investors. But they are beginning to look overseas for further core, growth and opportunistic investments, says Gail Moss
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MagazineNew interest
The rebound in equities means Danish investors are now underweight in real estate and looking to rebalance with new allocations. Gail Moss reports
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Magazine
Feeling better – slowly
Some Icelandic investors are looking to real estate to help them improve performance, but in the wake of the country’s financial collapse prospects are limited. Gail Moss reports
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News
UK to discuss next step to residential investing
UK – The UK government will launch a consultation in 2010 on the private rented residential sector, which has been attracting interest from institutional fund managers and pension funds.
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News
Orion’s Europe III captures €1bn
EUROPE – Orion Capital Managers has closed the capital raising programme for its latest European opportunity fund, breaking its publicly-stated fundraising target of €1bn.
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Fresh Fof expertise decamps to Aviva
EUROPE – The transferral of BlackRock’s European fund of funds expertise to Aviva Investors continued last week as fund manager Catriona Allen is the latest to move to the asset manager.
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Magazine
Shop for resilience
Nordic retail has performed well, and there are good opportunities to redevelop town centres and buy mis-priced assets. Håkan Blixt reports
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News
USS swaps retail for more warehouse space
UK – A complex deal between Universities Superannuation Scheme (USS) and Henderson Global Investors has enabled the pension fund to diversify its UK retail warehouse portfolio, while the investment manager has reduced the leverage in one of its funds.
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News
UK property debts reduce but covenant breaches double
UK – The volume of debt secured against UK commercial real estate fell in 2009, but the value of loans reported to be in breach of financial covenant almost doubled in the first half of the year, according to a new study.
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Schroder predicts volatile UK property upswing
UK – The sharp turnaround in the performance of the UK commercial real estate market is set to continue through the first six months of 2010 although activity will not be smooth, according to Schroder Property Investment Management.
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Secondary real estate trading dried up - INREV
EUROPE – Most European real estate fund of funds (FoF) managers turned their backs on the practice of trading secondary fund interests in 2009, as the number of transactions has dropped from 50 in 2008 to just five deals so far this year.
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REITS body predicts market upturn, as HSBC predicts down
GLOBAL – Real estate investment trusts (REITs) and other listed property companies could be in a position to “mount a startling about-turn in fortunes” as investors begin to allocate capital back to the sector, according to Reita.
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FirstProperty to target UK pension funds
EUROPE – First Property is aiming to move back into the UK commercial real estate market, after concentrating for several years on Central and Eastern Europe (CEE), with the launch of a new vehicle for pension funds.
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News
Nordic real estate predicted to take a hit
NORDICS – Investments in the Nordic real estate markets are expected to deliver negative returns for 2009, according to a new report from Aberdeen Property Investors.
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News
Swedish pensions break into secure locations
SWEDEN – A consortium of Swedish pension funds has purchased two ongoing real estate projects from developer Skanksa, which specialise in crime prevention.
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Germany revisits real estate redemptions pressure
GERMANY – Redemption freezes have been reinstated on a number of German open-ended funds (GEOFs), including Aberdeen Immobilien Kapitalanlagegesellschaft’s (formerly DEGI) and the DEGI Europa and DEGI International funds, which both include institutional money.
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News
Cornerstone moves into Europe via Protego
GLOBAL – Protego Real Estate Investors has been bought by Cornerstone Real Estate Advisers, a wholly-owned subsidiary of the Massachusetts Mutual Life Insurance Company (MassMutual).
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News
Gellatly's FoFs follow to Aviva
EUROPE – Aviva Investors has taken over the management of BlackRock’s European fund of funds vehicles following fund manager John Gellatly’s move from the latter to the former in September 2009.
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News
Pension funds buy up retail targets
UK – LaSalle Investment Management has purchased a shopping centre in the UK on behalf of one pension fund client and secured new tenant leases for two others.
