All Investment Vehicles articles – Page 283
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Outflows hit Invista REIM’s results
UK – Invista Real Estate Investment Management suffered a 32% drop in revenue in 2008, according to preliminary results for the year.
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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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Pennsylvania withdraws from commingled commitments
US – The Pennsylvania Public School Employees’ Retirement System (PSERS) has pulled out of $925m (€724m) worth of real estate commitments.
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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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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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Tough year sees CPP investments fall 13%
CANADA – The Canadian Pension Plan fund declined by C$13.8bn (€15.42bn) in the nine months to 31 December 2008, its investment board has revealed in its latest financial results.
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Geni to pull magic from property bottleneck
MIDDLE EAST – Geni Capital LLP (Geni), the London-based asset manager, has teamed up with AREIT Management Limited to launch a commercial property opportunities fund to take advantage of recently-adjusted property values in the Middle East.
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Investors still eye PERE for 2009
GLOBAL – Institutional investors in private equity real estate are still willing to invest in the asset class this year, albeit cautiously, and remain committed to their investment strategy going forward, suggests a survey conducted by Preqin.
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ING Clarion expands into the DC pensions space
UNITED STATES - ING Clarion Partners is entering the US defined contribution (DC) investor market for the first time, as officials believe there will be significant growth in the DC pensions arena.
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NYSTRS ends REIT relationship with Citigroup
UNITED STATES - New York State Teachers Retirement System has ended an arrangement with Citigroup Alternative Investments as the REIT manager is pulling out of this space.
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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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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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Real estate recovery predicted for 2011
GLOBAL – Institutional investors believe the ongoing financial crisis will be a major obstacle for investors looking to allocate to non-listed real estate funds this year and do not expect property markets to start recovering until 2011, according to the INREV Investment Intentions Survey 2009.
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Oregon PERF swaps one deal for four
UNITED STATES - Oregon Public Employees Retirement Fund has terminated a real estate investment trust (REIT) relationship with Cliffwood Properties LLC and signed deals with three other managers to diversify its risk.
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Cabot Properties expands into Europe
EUROPE/UNITED STATES - Cabot Properties is planning to expand its industrial acquisition efforts into Europe for the first time.
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Danish Engineers sell €65m portfolio to Aberdeen
DENMARK – DIP, the DKK24bn (€3.22bn) pension fund for Danish engineers, has sold a €65m commercial property portfolio to Aberdeen Property Investors and taken a stake in its Danish fund as part of a shift in its investment strategy.
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Lack of debt to present "challenge" for 2009
EUROPE – European real estate investors expect 2009 to be a challenging year for equity and debt markets, according to the latest sentiment report by PricewaterhouseCoopers and the Urban Land Institute (ULI).
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New Jersey changes strategy with commingled capital
UNITED STATES - New Jersey Division of Investment has decided to shift $250m (€190.5m) worth of commitments planned for commingled funds into different investment opportunities on the back of market performance worries.
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Los Angeles City alters hotel booking
UNITED STATES - Los Angeles City Employees’ Retirement System has asked Integrated Capital to change the agreement it made concerning the Capital Hospitality fund so it can go ahead with investment plans.
