European Investors News – Page 241
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Hampshire to target UK property in next 12 months
UK – Hampshire County Council is looking to almost double its pension fund's exposure to UK commercial property over the next year to meet the 8% target allocation agreed before the market downturn.
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BPF Bouw and Progress sell Unilever HQ
NETHERLANDS – Dutch pension funds BPF Bouw and Progress have sold the headquarters of food giant Unilever in Rotterdam to German fund manager Real IS.
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Sentiment in UK CRE improving but more pain to come
UK – Average property yields in the UK fell by 15 basis points to 7.03% in August, the lowest level since November 2008, according to Cushman & Wakefield.
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Korean NPS to invest in central London prime
KOREA/UK – The National Pension Service of Korea (NPS), the fifth largest pension fund in the world, has awarded a mandate to UK-based Rockspring Property Investment Managers to invest in prime central London real estate.
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Crown Estate signs first green lease
UK – The Crown Estate has signed its first green lease for part of its £750m (€860m) Regent Street regeneration programme in London.
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88% of pension funds very concerned about LTV issues
EUROPE – Most European institutional investors are worried that the non-listed real estate funds they are invested in are likely to breach loan covenants, according to a study by the European Association for Investors in Non-listed Real Estate Vehicles (INREV).
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Real estate equities bear market over – Cohen & Steers
GLOBAL - “In contrast to the direct property market it is our strong view that real estate stocks have made their lows for this cycle and that the REIT bear market ended in March this year,” said Cohen and Steers co-chair and co-CEO Robert Steers.
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Camden to consider real estate increase
UK – The London Borough of Camden is considering the next stage of the restructure of its pension fund investment portfolio including a potential increase in property.
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ABFPT purchases retail park
UK – Wilky Fund Management has purchased Brook Retail Park in Clacton-on-Sea on behalf of the Associated British Foods Pension Trustees (ABFPT) for £11.5m (€13.2m).
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Ropemaker set to make UK acquisitions
UK - Ropemaker Properties, the direct real estate investment arm of the BP Pension Fund, is expected to complete two real estate acquisitions in the UK.
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UBS and Oxford in major pre-letting deal
UK - UBS Global Asset Management and Oxford Properties, the real estate arm of Canada’s Ontario Municipal Employees Retirement System, have achieved one of the largest speculative lettings in the City of London.
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HSBC Bank Pension Trust in new acquisition phase
UK – LaSalle Investment Management has purchased 50% stakes in two UK retail parks on behalf of the HSBC Bank Pension Trust.
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VER to increase RE allocation; targets UK
FINLAND - Valtion Eläkerahasto (VER), the State Pension Fund of Finland, is working to make its first commitment to a dedicated UK real estate fund as it looks to increase its overall property exposure.
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Transaction levels turn the corner
GLOBAL – Real estate transaction levels around the world rose for the first time in 18 months and Real Capital Analytics (RCA) predicts this will transpire to be a sustainable trend.
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Finnish pensions land airlines among property
FINLAND – Nordea Life Assurance Finland, Varma Mutual Pension Insurance and Valtion Eläkerahasto (VER) , the Finnish State Pension Fund, have invested in four airport properties in Finland through their NV Property Fund joint venture.
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USS expands industrial holdings
UK – The £28bn (€31.7bn) Universities Superannuation Scheme continues to rebuild its domestic real estate portfolio by purchasing a portfolio of industrial assets measuring 2.9 million square feet for £196m (€226m), reflecting a yield of 8.7%.
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Investment houses talk up UK property prospects
UK – Prupim has revised its forecast for the UK commercial property market as yields are beginning to stabilise, and Aberdeen Property Investors is predicting UK real estate will outperform its continental counterparts over the next five years.
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National Grid pension considers UK real estate
UK – The National Grid UK Pension Scheme has invested approximately £70m (€81m) in UK real estate this year and its advisers expect to commit a similar amount again during the second half of this year and in 2010.
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Foreign investor interest in Dutch real estate on the rise
NETHERLANDS - Foreign investors are returning to the Dutch property market, according to the Dutch financial supervisor De Nederlandsche Bank (DNB).
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IVG stays in the red as Patrizia gains
GERMANY – German real estate company IVG posted another net loss in the second quarter of this year, but competitor Patrizia has reported a small net profit.
