European Investors News – Page 236
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Strathclyde to increase focus on RI in property review
UK – Strathclyde Pension Fund's current review of its property portfolio will include 'further consideration' of the application of its responsible investment (RI) strategy.
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INREV predicts UK institutional investors to tap real estate growth
UK – The total volume of capital invested in real estate by UK institutional investors is set to grow by 20% over the next three years as pension funds increase their allocations to the asset class and move out of underweight positions, according to new a survey.
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Germany and UK at greatest risk from 'problem' loans
EUROPE – Germany and the UK are more exposed to more than the €200bn pool of real estate loans identified by CB Richard Ellis as “problematic” than any other markets in Europe.
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British Steel pension moves into music store
UK – The British Steel Pension Fund has acquired an HMV music store in Manchester from a private investor for £18.9m (€21.14m) and plans to make further acquisitions over the next 18 months.
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IPE Real Estate’s Top 100 finds Swiss investors favour property
EUROPE – Four Dutch pension funds are among the top 10 institutional real estate investors but Swiss pension funds tend to have the highest allocation to the sector, according to IPE Real Estate’s inaugural Top 100 institutional real estate investors.
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Low carbon property fund to target 'high-quality tenants'
UK – A new 'low carbon' real estate fund is being planned to refurbish 50 properties in the UK into high specification energy efficient space and offer it to tenants at ‘market prices’.
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Standard Life snaps up Tesco 'eco' sale-and-leaseback
UK – Standard Life Investments has acquired a Tesco Extra Supermarket in Shrewsbury for its £1.85bn (€2.04bn) Pooled Property Pension Fund.
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Rebranded DEGI to focus on institutional and Master KAG services
GERMANY – Aberdeen Immobilien KAG, previously known as DEGI, will in future focus its business on the institutional sector, pan-European funds and on offering fiduciary services, according to Hartmut Leser, country head for Aberdeen in Germany.
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Pre-MIPIM talk is of interest in banks’ real estate books
EUROPE – The hot topic at this year’s MIPIM event in Cannes is going to be how banks manage and offload the real estate assets on their books, panellists concluded during IPE Real Estate’s inaugural webinar.
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Hamborner resurrects German listed real estate with Reit move
GERMANY – Hamborner has become the third real estate company in Germany to convert to a real estate investment trust (REIT) status, prompting speculation that the country’s REIT may finally start to grow.
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UK and Nordic pension investors opt for Nordic logistics fund
UK/NORDICS - A group of large Nordic and UK institutional investors have invested in a new logistics real estate fund offered by Nordic Real Estate Partners, which will invest in Nordic logistics properties.
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Ohio PERS to invest $1.6bn in real estate
UNITED STATES - Ohio Public Employees Retirement System will allocate $1.6bn (€1.2bn) in real estate this year and will be targeting stable assets as well as motivated sellers in particular.
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CBRE launch breaks into DC pensions
UK – CB Richard Ellis Investors has launched its first property fund aimed at the defined contribution (DC) pension sector.
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Hewitt advises pensions funds to consider UK real estate
UK – Hewitt Associates is focusing on domestic real estate for its UK pension fund clients following two years of volatility and poor performance in geared overseas funds.
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German property redemptions could carry two-year waiting period
GERMANY – Investors in German open-ended real estate funds will have to abide by a two-year holding period before redeeming their shares, if government plans come to fruition.
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Pension funds outperformed with property investments
UK – Pension funds outperformed the International Property Databank’s (IPD) benchmark of 3% for all participating UK funds in 2009, because they owned prime property and bought largely ahead of the market rally in the second half of the year.
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Danish pension funds take on sustainable office development
DENMARK - Danish pension funds PensionDanmark and Lægernes Pensionskasse, and Swedish financial group Nordea Life have purchased a sustainable office development in Denmark through a joint venture.
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Aegon AM launches fund targeting smaller properties
UK – AEGON Asset Management is the latest fund management group to launch a fund targeting smaller real estate assets in the UK, as the market for prime property becomes increasingly competitive.
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Europe's biggest pension fund given top-line real estate guidelines
NORWAY - The Norwegian Ministry of Finance has today revealed the Government Pension Fund-Global fund will in future be invested in real estate as planned, albeit investments will be made over a long period of time, in a bid to reduce risk.
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Lack of purchasing stocks shifts attention to secondaries
EUROPE – A lack of prime real estate being placed on the market is forcing investors to consider secondary assets or to focus on opportunities arising from banks.
