European Investors News – Page 233
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Whitbread wannabes in UK underestimate complexity, says Punter Southall
UK – UK pension funds considering property to plug their pension gaps are looking at overly complex structures to do it, according to research by consultancy Punter Southall on the recent Whitbread property partnership.
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Emerging markets to lead revival of luxury retail sector, says Colliers
GLOBAL – Rents in the luxury retail sector are set to increase in the near term after a two-year hiatus, according to Colliers International.
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German investors to ramp up indirect real estate exposure
GERMANY – German institutional investors are expected to invest on average more than €300m in real estate during 2010 and more than €26bn in total over the next three years, a large proportion of which will be directed to indirect vehicles, according to two separate studies.
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US and Ireland set for spike in distressed sales
GLOBAL – Ireland and the US are expected to see a significant increase in distressed real estate sales in the short term, according to research from the Royal Institute of Chartered Surveyors (RICS).
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PGGM won over by SLI's responsible investment credentials
NETHERLANDS/UK – PGGM, the Dutch pension fund asset manager, has invested €75m in a UK shopping centre fund managed by Standard Life Investments.
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Survey shows UK pension funds to increase real estate exposure
UK – More than one-third of UK pension funds with existing real estate investments are actively looking to increase their exposure, while a small number remain unsure about the asset class, according to a survey by Aberdeen Asset Management.
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AP4 acquires €565m of Swedish residential assets
SWEDEN – The Fourth Swedish National Pension Fund (AP4) has made one of the largest ever residential investments in the country.
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Prime continuing to defy fundamentals - King Sturge
EUROPE – King Sturge’s European first quarter survey is the latest to report prime property retaining its value despite a sluggish macro recovery across the continent.
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Pension funds to take the train
UK – Pension schemes could be asked to fund the UK’s high-speed rail network under proposals currently before the transport ministry.
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Global forecast confirms two-tier trend
GLOBAL – The forecast for Europe is cautious, for the US better, and for some of Asia the best of all, according to Jones Lang LaSalle's (JLL) quarterly Global Market Perspective.
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ING REIM offers access to its funds through single structure
EUROPE – An unnamed Swiss insurer has invested €100m via several of its subsidiaries in an ING Real Estate Investment Management fund of funds (FoF) vehicle launched last week.
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Munich office outlook maintains focus on prime
GERMANY – Munich office rental will pick up slowly in 2010 even if there is a speedy recovery, according to a report published this week by Knight Frank.
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Recovery boosts forecasts for Europe, US
GLOBAL – Economic recovery has upped the prospects for long-lease prime properties in cities such as London, New York, Paris and Hong Kong, according to ING Real Estate Investment Management.
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Former IPD boss appointed INREV CEO
EUROPE – The European Association for Investors in Non-listed Real Estate Funds (INREV) has appointed Matthias Thomas, the founder of Investment Property Databank (IPD) Germany, as chief executive officer.
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Macro drives Euro growth as UK confidence boosts non-listed funds
EUROPE - Broad recovery in European property markets raises the prospect that markets such as Denmark and the Netherlands could escape the cyclical downturn altogether.
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Investors look past prime to secondary assets
EUROPE - European pension funds will look to secondary assets in search of higher returns as economies recover across the region, according to Simon Mallinson, director of research at Invesco.
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Norwegian oil fund appoints PE property manager
NORWAY - Karsten Kallevig is to manage the planned NOK140bn (€16.6bn) property portfolio of the €346bn Norwegian Global Pension Fund. The Tokyo-based partner in real estate private equity firm Grove will join the fund early in September.
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Outperformance from asset quality not lease length – L&G Property
UK – Asset quality – not lease length – should be the primary indicator of value for UK property, according to Robin Martin, head of performance analysis and research at Legal & General Property.
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Cooper joins Townsend to attack European and Asian markets
GLOBAL – Former ING Real Estate Select CEO Nick Cooper has joined The Townsend Group as part of a push to develop the group’s multi-manager business in Europe and Asia.
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UK lending improves but still faces uncertainty
UK – Bank of England figures show that real estate lending in the UK recovered slightly in the first quarter of 2009, but Jones Lang LaSalle (JLL) has warned that secondary assets remain a significant problem.
