European investors – Page 231
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Dutch pension funds offload Rotterdam courts to GBA
NETHERLANDS – A group including Dutch pension funds KPN and TNT has sold the Wilhelminahof offices and courts complex in Rotterdam for €220m to the Dutch Government Buildings Agency (GBA).
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Invesco-Ciloger partnership acquires German properties for French institutions
EUROPE – Invesco Real Estate and Ciloger have acquired 10 newly built retail assets in Germany for €218m on behalf of seven French institutional investors.
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Insurers commit to European debt through AXA Real Estate
EUROPE – AXA Real Estate Investment Managers has secured €1.5bn in insurance company capital to provide European real estate financing.
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Switzerland's AFIAA takes profits from Canadian investments
GLOBAL – AFIAA, the foundation owned by 20 Swiss pension funds, has sold three assets in Canada as part of an optimisation of its global real estate portfolio.
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Danish roundup: ATP, PensionDanmark, Magillum Properties, EY-Tower
DENMARK – The property arm of Danish pensions giant ATP has teamed up with labour market fund PensionDanmark to buy three department store buildings in the country's biggest real estate deal of 2010.
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Investors should branch into developing economies - LaSalle
GLOBAL – Institutional investors looking to guarantee strong returns in 2011 cannot rely on portfolios consisting purely of cities in developed markets, LaSalle Investment Management has warned.
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UK PPF appoints LaSalle, CB Richard Ellis to global real estate mandates
UK – The UK Pension Protection Fund (PPF) has appointed La Salle Investment Management and CBRE Investors to develop its global real estate strategy.
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JP Morgan acquires its own London offices for more than €1bn
UK – Investment bank JP Morgan has taken ownership of 25 Bank Street in Canary Wharf, which will become its new European headquarters in 2012, and another London office housing its treasury and securities services division for close to £850m (€1.01bn).
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Amplion buys Varma portfolio for Finnish institutions
FINLAND – Amplion Asset Management Oy has acquired a €100m real estate portfolio from Varma Mutual Pension Insurance Company on behalf of a number of Finnish institutional investors.
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INREV: Positive capital growth returns to continental Europe
EUROPE – The European Association for Investors in Non-listed Real Estate Vehicles (INREV) has measured positive capital growth across the continental European property markets for the first time since 2007.
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Two JPMorgan Asset Management funds in €657m London office deal
UK – JPMorgan Asset Management (JPMAM) has acquired Bishops Square in London for £557m (€657m) for two of its institutional funds, highlighting continued demand for prime real estate in the capital.
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BT Pension Scheme lands Heathrow industrial estates
UK – The BT Pension Scheme has acquired an industrial real estate portfolio near Heathrow airport for £79.25m (€93.8m) from European developer SEGRO.
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Morgan Stanley opportunity fund extends debt lifeline to hotel owner
EUROPE – A global opportunity fund run by Morgan Stanley Real Estate Investing has provided €150m in mezzanine financing to BRE/Hospitality Europe Holding, an owner of a European hotel portfolio.
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HOOPP makes first direct purchase outside Canada
GLOBAL – The Healthcare of Ontario Pension Plan (HOOPP) has made its first direct real estate investment outside Canada by acquiring a 50% stake in the Crown Estate's St James's Gateway development in London.
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Lend Lease provides PGGM with direct infrastructure exposure
EUROPE – Dutch pension fund asset manager PGGM has committed £220m (€262m) in capital to become the principal investor in a joint venture with Lend Lease targeting social infrastructure in the UK.
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AP1 real estate company to invest €770m in property
SWEDEN – Första AP-fonden (AP1), Sweden's first national buffer fund, has created a new real estate company and will acquire more than SEK7bn (€767m) in domestic property assets.
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Invesco begins US acquisition trail for German investors
GLOBAL – Invesco Real Estate has made its first acquisitions in the US for German institutional investors in its MEAG US Immobilien Fonds IV.
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AnalysisAnalysis: The trouble with Germany's open-ended funds
GERMANY – The German government is doing its utmost to rescue the country's open-ended real estate funds from their current liquidity crisis and enable the sector to operate on a sustainable basis.
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F&C REIT raises €240m for German retail acquisitions
GERMANY – F&C REIT Asset Management in Germany is looking to invest as much as €240m in German retail properties having raised capital for a new real estate fund and a segregated account with a German pension fund.
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USS adds Savoy House to burgeoning UK portfolio
UK – The Universities Superannuation Scheme (USS) has resumed its acquisition programme in the UK with the purchase of Savoy Court in the West End of London for £45.5m (€53.9m).
