Europe – Page 456
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Warburg-Henderson grows institutional client base
GERMANY – German real estate company Warburg-Henderson has launched a Master KAG subsidiary and already won its first client.
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Inflows see DEGI alter redemptions ban
GLOBAL – Deutsche Gesellschaft für Immobilienfonds mbH (DEGI), the German-based property investors, has announced it will end the suspension of redemptions from its DEGI International Fund at the end of this month following new capital inflows into the fund.
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Central London property presents a challenge - JLL
UK – Investment levels across Central London fell by 66% last year and could lead to “one of the most challenging years on record” for real estate take-up in the capital, according to Jones Lang LaSalle’s latest Central London report.
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MagazineDistant lights
Investor mettle is being severely tested as the gloom around London office deepens. It is not all bad news, but timing will be critical, says Andy Schofield
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MagazineBeyond the Square Mile
Investors claim to be peering at the bottom of the London property market. Some are already looking for sane prices for sparse assets – and they include pension funds as well as opportunists. Shayla Walmsley reports
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MagazineLimited ambition
In Italy real estate is out of favour among institutional investors. The older-established funds are reducing their allocations and the new-style funds have limited opportunities to invest in property. Christine Senior reports
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MagazinePriceless property
As transactional data has almost entirely dried up, the true market value of real estate is shrouded in uncertainty. Richard Lowe speaks to three pension funds about what this means for their existing portfolios and investment strategies
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News
UK pooled funds lose almost a third
UK – Total annual returns for all pooled property funds hit -32% over 2008, according to the IPD UK Pooled Property Fund Indices’ fourth quarter results for 2008.
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Teesside hires LVAM to manage real estate
UK – The £2bn (€2.1bn) Teesside Pension Fund, administered by Middlesbrough Council, has appointed LV Asset Management (LVAM) to manage the pension fund’s direct UK commercial property portfolio.
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Land Securities warns of tenancy pressures
UK – Land Securities is retaining a “cautious outlook” of the property markets after registering an increase in empty properties within its portfolio, and fears property will continue on a downward spiral over the coming months.
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Merseyside rolls real estate investment contracts
UK - Merseyside Pension Fund (MPF) has extended two major contracts for real estate investment services instead of exposing the pension fund to the pressures of the volatile property markets.
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Schroders to apply blind fund to Avon's strategy
UK – The £2bn (€2.12bn) Avon Pension Fund, administered by Bath and North East Somerset Council, has appointed Schroders to manage a £90m UK property multi-manager mandate.
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Pension fund potential in CEE infrastructure
CEE – Local investors should take the chance to grab stable investment opportunities ino Central and Eastern Europe while many foreign investors remain wary, according to Werner Weihs-Raabl, head of group infrastructure finance and public sector at Erste Group.
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Aberdeen predicts UK property bounceback
UK – Institutional investors, including UK pension funds, are likely to tap into the UK property market for attractive opportunities by the end of this year, according to Aberdeen Property Investors’ UK Property Snapshot.
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AREF appoints new chair
UK – The Association of Real Estate Funds (AREF) has appointed Bill Hughes, managing director of Legal & General Property, as its new chairman.
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Activity sees IVG buy German retail from AEW
Europe – AEW Europe’s pan-European fund has sold its prime retail asset in Hamburg for €94m, proving the German real estate market is still showing signs of activity despite the credit crunch.
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Higher yields allude to lower income growth - CBRE
EUROPE – Yields across all commercial sectors in Europe, Middle East and Africa markets have increased in the fourth quarter of 2008 and may reflect a poor outlook for rents, according to latest data from the CB Richard Ellis EU-15 yield indices.
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Pressured Hypo wins time extension
GERMANY- Hypo Real Estate Group has received an extension on the €30bn framework guarantee granted by the German Financial Markets Stabilisation Fund (SoFFin) amid rumours that the German Government is considering taking a stake in the company.
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News
ING enters Polish retail space
Czech Republic – ING Real Estate Investment Management has acquired a €125m shopping centre in the Czech Republic and added it to the ING Property Fund Central Europe.
