European Investors News – Page 255
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Jelmoli ups ante in Swiss saga
EUROPE - In the latest round of an aggressive game of brinkmanship, Swiss retailer Jelmoli is to sue Delek for breach of contract after the London-listed Israeli property firm’s pulled out of a deal to acquire Jelmoli’s 88-property Swiss portfolio.
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Real estate sought through IPE-Quest mandate
SWITZERLAND – A search has been launched for an investment manager to look after a €10m European real estate mandate, using IPE Quest.
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Two in three funds eye real estate
NORDICS - Nearly two-thirds of pension funds in Norway, Sweden and Denmark intend to invest in non-listed real estate in the future, according to a survey by Lymos BV Real Estate Capital Advisors.
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ABP advised to sell Corio
NETHERLANDS - Dutch pension fund ABP should sell its 37% share in Corio to one of the developers circling the Dutch real estate firm, according to sector analysts.
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Pension fund JV acquires €200m office
GERMANY - A three-way German office partnership involving ABP and ATP Ejendomme, the real estate subsidiary of the €49.6bn Danish pension scheme, has invested almost a third of its target capital with the €200m acquisition of two nationwide portfolios.
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Brookfield expansion targets REITs
UNITED STATES - Brookfield Asset Management has moved into the REIT management business with the acquisition of KG Redding.
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Henderson shorts inside global real estate
EUROPE - Henderson Global Investors has launched a property equities fund with the capability to take long and short positions on real estate listed stocks.
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Duopoly to define logistics fund market
EUROPE - The European logistics market will diverge into ‘blockbuster’ and ‘niche’ funds, with specialist nous and tenant relationships determining asset managers’ survival in a shaken-out market, claims Peter Davies, fund director of the Goodman European Logistics Fund (GELF).
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Arizona State to take real estate over the border
UNITED STATES - Arizona State Retirement System has decided to open its real estate investment program to the international stage on both the private and public side.
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Reits design described as “wrong”
GLOBAL - European Reits are being formulated to appeal to the “wrong audience”, according to Europroperty Consulting.
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CEE pricing 'still a concern'
EUROPE - Central and Eastern Europe is still too overpriced to be worth investing in, despite greater differentiation between prime and secondary real estate pricing, according to Scottish Widows Investment Partnership’s head of property Malcolm Naish.
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French study suggests derivatives 'over-hyped'
EUROPE - European institutional investors have little appetite for property derivatives, despite claims from investment banks suggesting they offer an effective hedge against inflation, suggests academic research.
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Corio to divest office and industrial portfolios
NETHERLANDS - The €6bn property investment and management company Corio has decided to go ahead with divesting the major part of its offices and industrial portfolios, and to further focus on its retail activities.
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Director arrested in Philips pensions fraud
NETHERLANDS - Dutch fraud police have arrested the former and current directors of real estate at PREIM, the real estate arm of the €14.5bn Philips pension fund, as part of their investigation into fraud connected with the scheme’s property portfolio.
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BNL fund to outsource real estate
ITALY – The €970m pension fund of the Italian Banca Nazionale del Lavoro (BNL) is looking to outsource the management of its real estate portfolio.
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Lehman Brothers creates retail JV in Italy
UNITED STATES - Lehman Brothers Real Estate Partners has formed a new joint venture with B Consulting for the development of new retail properties in Italy.
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Sainsbury JV to unlock property value
UK - UK supermarket giant Sainsbury’s has entered into a joint venture with property firm Land Securities, aimed at active management of its property portfolio.
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Fillmore Capital to expand into UK and China
UNITED STATES - Fillmore Capital Partners is looking at expanding its investment operations into the United Kingdom and China for the first time.
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ING warns of knocked confidence in property
UK - Investor sentiment is significantly more uncertain and pessimistic than it was last year, according to ING Real Estate Investment Management.
