European Investors News – Page 262
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Developing Europe keeps investors local
EUROPE - Turkey and Russia now outclass other European property markets for both development and investment, indicating a shift away from “Old Europe” towards new holdings and developments, suggests a report co-published by the Urban Land Institute and PwC.
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Chicago Police eyes more real estate
UNITED STATES - Chicago Policemen’s Annuity and Benefit Fund has increased its allocation to real estate from 5% to 7%.
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APG and ATP back INREV index campaign
EUROPE - European pension funds have lent their weight to a campaign organised by the European Association for Investors in Non-listed Real Estate Vehicles (INREV), aimed at increasing transparency among unlisted property funds.
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Finland peers down from 10-year peak
FINLAND - Finnish real estate delivered the market’s strongest performance in a decade last year, returning 11.3% –an increase of 1.3% over the previous year, according to figures published by KTI.
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UK industry defends 'pretty good' valuers
UK - Fund managers have shored up the value of property indices against claims they adequately fail to reflect the market.
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UK property set to stabilise in summer
UK – The Real Estate Investment Trust Association (Reita) has become the latest industry body to forecast a mid-year pick-up in the UK property market.
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Fortis forms car pool with Vinci
EUROPE - Insurer Fortis is in exclusive talks with French firm Vinci to pool the firms’ European carpark assets in a joint venture.
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FSP raises the ceiling on property
DENMARK- Finanssektorens Pensionskasse, the Danish pension scheme forfinancial sector workers, is adding a hefty slice of property exposureto the unit-linked scheme now used by all new members.
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Kåpan eyes more real estate after poor year
SWEDEN – The SEK32.7bn (€3.5bn) Kåpan Pensioner scheme forgovernment employees booked a return of 2.1% for 2007, and now plans toincrease its real estate allocation to 10%.
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CalSTRS invests $100m in Nordic real estate
UNITED STATES - California State Teachers Retirement System has bolstered its international real estate portfolio with commitments to three new investment entities totalling nearly $252m (€165.2m), including $100m in Nordic property.
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AP3 urges lifting of infrastructure limits
SWEDEN - Swedish buffer fund AP3 is stepping up its efforts to persuade the Swedish government to lift restrictions on pension fund investments in infrastructure.
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Swedish shoppers overtake industrials
SWEDEN - Swedish retail has overtaken office as the market’s best performing sector, according to the 2007 Swedish Annual Property Index.
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European property to slow despite pensions intervention
Investment in commercial property, having survived the 2007 credit crunch, will tail off in 2008 despite a liquidity injection from liquid investors, investment house Aberdeen has predicted.
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Doubt over debt deal could put BAA on block
SPAIN - Infrastructure firm Ferrovial has claimed it will go ahead with its £9bn (€11.7bn) refinancing plans despite rumours suggesting Australian infrastructure investor Macquarie was circling the UK airports operator BAA.
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EC pursues UK and Belgium over EPC status
EUROPE – The Belgian and UK governments are being taken to task by the European Commission for their failure to implement EU requirements stating how energy performance in buildings is measured.
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Norway appoints Partners Group for real estate advice
NORWAY – The Norwegian Ministry of Finance has appointed PartnersGroup to provide real estate consultancy services to the NOK 2.1trn(€265bn) Government Pension Fund - Global.
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New Jersey considers $350m for non-core
UNITED STATES - New Jersey Division of Investment is looking at placing $350m (€232m) into non-core real estate investments through commitments to six commingled funds.
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Chicago Teachers reviews 'emerging managers' status
UNITED STATES- Public School Teachers’ Pension and Retirement Fund of Chicago is looking at investing $125m (€84.3m) this year, in international real estate and emerging managers, once the scheme has reviewed its definition of an ‘emerging manager’.
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Pension funds pull out of Equest
UK - The BBC Pension Trust, SAUL, BHS Pension Scheme and P&O Pension Scheme have sold their shareholdings in Jersey-based property investment firm Equest Partners.
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Fair value potential entices investors back to UK
EUROPE - Continental European property yields will follow the widening UK trend in 2008, “though not to the same extent”, according to Tony Horrell, CEO of European capital markets at Jones Lang LaSalle.
