European investors – Page 257
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Sweden sees first signs of real estate downturn
SWEDEN – Swedish commercial real estate returns fell to -3.3% in 2008, according to latest figures from the SFI/IPD Index published by the Investment Property Databank (IPD).
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Lancashire lays groundwork for infrastructure investing
UK - The Lancashire County Council Pension Fund is considering investing around £80m (€89.55m) in infrastructure as part of a new strategy to diversify its investments.
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Pension funds to raise real estate holdings to over 10%
GERMANY – German retirement vehicles are among the institutional investors planning the largest increase in their real estate holdings over the next two years, according to research conducted by Feri Advisors.
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IPD unveils sustainability benchmarking
GLOBAL – The Investment Property Databank (IPD) today launched an environmental benchmarking service for commercial real estate occupiers.
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Real estate helps limit Ilmarinen losses
FINLAND – Real estate investments helped limit losses by the Finnish pension fund Ilmarinen as it reported an overall loss of €4.34bn in 2008.
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Union to tap German GEOFs repricing
GERMANY – Union Investment Real Estate AG has welcomed proposals for regulation changes regarding German open-ended funds (GEOFs) and aims to take advantage of repricing to invest in traditionally core markets.
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Axa keeps on growing real estate
SCANDINAVIA – AXA Real Estate Investment Management (AXA REIM) has increased its retail investments and expanded its team in the Nordic and Baltic regions.
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Banks take over Spain’s real estate giant
SPAIN – Metrovacesa SA, Spain’s largest property firm, has handed over majority control of the company to six of its creditor banks in exchange for debt.
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Scandinavia real estate looks attractive, say pension funds
Scandinavia – Scandinavian funds still consider non-listed real estate an attractive investment opportunity in the medium to long-term, according to a survey by Lymos BV Real Estate Capital Advisors.
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Axa taps European housing opportunities
EUROPE – AXA Investment Managers’ German branch has launched a residential fund for institutional investors following their increased appetite for the sector.
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UK logistics traffic to hit a go-slow
UK – Demand for UK logistics could reach a record low this year and will remain subdued until at least 2010, according to Jones Lang LaSalle (JLL).
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Restructuring could save German funds - DTZ
EUROPE – German open-ended funds (GOEFs) are expected to suffer further liquidity issues in 2009 and should consider restructuring to protect themselves in the future, according to DTZ’s latest European quarterly report.
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Grosvenor seek urgent retail debt solution
UK – Grosvenor, the privately-owned property group, has confirmed it is in debt talks to prevent a breach in the banking contract of its retail fund.
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LandSecs becomes next to seek rights issue
UK – Land Securities today announced it is holding a rights issue to raise around £755.7m (€854.9m) from shareholders, making this the latest in a series of property giants proposing fundraising to strengthen their balance sheets.
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Hypo Real financing keeps climbing
GERMANY – Hypo Real Estate was granted an additional €10bn by the German Financial Markets Stabilisation Fund (SoFFin) last week, bringing the total bailout to €52bn.
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IPD predicts further gloom for Ireland
IRELAND – Ireland’s real estate industry has tough times ahead and is unlikely to recover any time soon, according to analysts at the SCS/IPD Annual Results presentation in Dublin this week.
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ProLogis sells remainder of PEPF II
EUROPE – ProLogis European Properties (PEPR) has decided to sell its one-third stake in the ProLogis European Properties Fund (PEPF) II to further de-leverage the firm.
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British Land halves Meadowhall stake ahead of rights issue
UK – The British Land Company has exchanged contracts with London & Stamford Property to sell a 50% interest in the freehold of the Meadowhall Shopping Centre near Sheffield, but it is also raising additional funds through a £740m (€819.49m) rights issue.
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Demands spark student accommodation drive
UK – Coral Portfolio and Strutt & Parker Real Estate Financial Services (SPREFS) are launching a student accommodation fund in response to strong market demand.
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Klépierre rolls on with real estate sale
FRANCE – Klépierre, the French real estate investment company, will continue its disposal programme to boost liquidity and expects positive growth in 2009, executives announced yesterday.
