European Investors News – Page 256
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Norway seeks real estate expertise
NORWAY – The Norwegian Government Pension Fund – Global has effectively confirmed its intention to invest in real estate by tendering for a real estate investment consultant.
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Industry pushes for EU REIT
EUROPE - Five industry bodies including the European Property Federation (EPF) are pushing the European Commission to introduce an EU REIT regime, in a bid to transform a fragmented European market into “the largest and likely most efficient property market in the world”.
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Pension funds "could power Reits growth"
UK – Assets held by the UK Reits market could double over the next few years if investors such as pension funds sold their real estate assets to the listed market, according to First State Investments.
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REITs momentum shifts to Asia and Europe
GLOBAL - The centre of gravity for REITs has shifted away from the US towards Asia and Europe, according to a report by Ernst & Young.
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Alternative investments to carry more weight - ING
UK - Alternatives sectors are likely to register more on the agenda as UK pension funds seek to gain more exposure to real estate assets, according to ING Real Estate Investment Management.
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Buchanan Street looks to European expansion
UNITED STATES - Buchanan Street Partners is considering investing in Europe for the first time by using the proceeds from a recent sale.
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To Russia, with cash
RUSSIA - Majority pension fund-owned property firm Sponda is to invest up to €400m in Russia by the end of 2009.
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UK property delivers negative return
UK - Real estate delivered a negative return of 1.1% in Q3, according to the IPD UK Quarterly Index – the first in its history – but real estate still outperformed property equities, which had a negative return of –10.3% for the three months to September.
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BA supports pensions flight with office block
UK – Pension fund of the airline British Airways has bought a recently-completed office development in Birmingham city centre, in a bid to help diversify its asset allocation.
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Industry optimistic for Danish REITs
DENMARK - Denmark could be the next European market to introduce real estate investment trusts (REITs), if lobbying by the Danish Property Federation (DPF) proves successful.
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Land is the new property, say planners
UK - Greenbelt and brownfield land earmarked for development is rapidly emerging as a sub-asset class in an otherwise overvalued real estate market.
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Macro growth boosts Nordic retail
NORDICS - Pension funds have an irrational attachment to office real estate when they should be looking to outperforming retail, according to fund manager Cordea Savills.
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Credit squeeze claims Swiss super-deal
SWITZERLAND - The credit squeeze claimed one of its first major deals last week when a consortium led by London-listed Israeli property firm Delek announced it had pulled out of the planned CHF 3.5bn (€2.8bn) acquisition of property firm Jelmoli’s 88-property Swiss portfolio.
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PwC to advise Norwegian fund on real estate
NORWAY – The Oslo-based branch of PricewaterhouseCoopers (PwC) has been awarded the contract to advise the NOK2trn (€250bn) Norwegian government pension fund on tax issues related to real estate investments.
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Slovakia to stymie pension property plan
SLOVAKIA - The Slovak government is to scotch a legal amendment that would allow second-pillar pension schemes to invest in real estate.
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BT pension fund backs UK developer
UK - The BT Pension Fund has given UK property which is currently seen as a rare vote of confidence and upped its shareholding in UK developers Development Securities.
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ABP defector joins F&C
NETHERLANDS - ABP real estate securities analyst Jorit Arissen is leaving the Dutch pension fund after just over a year to join fund manager F&C.
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UK, Spanish banks in sale-and-leaseback deals
UK/SPAIN - Two banks involved in the acquisition of ABN Amro are selling off most of their remaining property assets in a series of sale-and-leaseback deals.
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Oslo property market is ‘the new Helsinki’
NORWAY – Europe is good but Norway is better, according to a property market report published by Close, the independent merchant bank.
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LVAM in drive to grow institutional business
UK – LV Asset Management (LVAM), the asset management arm of UK’s largest friendly society, has announced ambitious plans to expand its fund management arm with 12 new funds and the development of a multi-manager capability, targeted at institutional and retail investors.
