All Investment Vehicles articles – Page 285
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Morgan Stanley reopens revised infrastructure pool
UNITED STATES – Morgan Stanley Investment Management (MSIM) has re-opened its Morgan Stanley Global Infrastructure Fund 1 to new investors in the United States, in anticipation of growing investment opportunities across the globe.
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Land Securities warns of tenancy pressures
UK – Land Securities is retaining a “cautious outlook” of the property markets after registering an increase in empty properties within its portfolio, and fears property will continue on a downward spiral over the coming months.
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Schroders to apply blind fund to Avon's strategy
UK – The £2bn (€2.12bn) Avon Pension Fund, administered by Bath and North East Somerset Council, has appointed Schroders to manage a £90m UK property multi-manager mandate.
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Capital calls face defaults and delays
A number of real estate fund investors are defaulting on capital calls or asking fund managers to delay them as they look to rebalance portfolios and generate liquidity.
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Purdon arrival to drive AREIT growth
MIDDLE EAST – AREIT Management Limited, manager of the Arabian Real Estate Investment Trust (AREIT), has appointed Chris Purdon as chief investment officer (CIO) as part of the firm’s plans to tap iopportunities in the Middle East region.
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San Bernardino to cash in real estate
UNITED STATES - San Bernardino County Employees Retirement Association has voted to issue redemption queues in three open-ended commingled funds amounting to $106m (€80.3m).
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Activity sees IVG buy German retail from AEW
Europe – AEW Europe’s pan-European fund has sold its prime retail asset in Hamburg for €94m, proving the German real estate market is still showing signs of activity despite the credit crunch.
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Wisconsin extends commingled fund relations
UNITED STATES - Wisconsin State Investment Board has approved two new commitments worth €42m with existing commingled fund managers.
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More than €50bn waiting to be deployed in Europe
EUROPE – More than €50bn of equity is targeting European commercial real estate this year, according to the latest European capital markets research carried out by Jones Lang LaSalle (JLL).
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Land Securities sells Trillium
UK – Land Securities Group, the UK’s largest real estate investment trust (REIT), announced today it has agreed the sale of Trillium to Telereal, a property investment company, for £750m (€832m).
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Over-exposed Alaska Retirement issues redemption queues
UNITED STATES – Alaska Retirement Management Board (ARMB) is to issue $103m (€76.3m) of redemption queues on three open-ended commingled funds as its allocation to real estate exceeds its strategic target.
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Illinois State Universities to capitalise on 2009 opportunities
UNITED STATES – State Universities Retirement System of Illinois has entered into the opportunistic real estate space by making a $40m (€29.4m) commitment to the Dune Real Estate Fund II.
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Goodman and L&G raise equity for ABPP
GLOBAL – Australia’s Goodman Group and the UK’s Legal & General have raised £350m (€383m) of equity for real estate fund Arlington Business Park Partnership (ABPP).
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EDHEC launches French index
FRANCE – French business school EDHEC has launched a monthly index for commercial property in France with the help of the Institut de l'Epargne Immobilière et Foncière (IEIF), an independent French real estate research institute.
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UniCredit sells Italian bank assets to new fund
ITALY – Italian bank UniCredit has sold 72 commercial properties worth approximately €800m to a real estate investment fund run by Italian fund manager Fondi Immobiliari Italian (Fimit).
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CalSTRS joint venture gains new financing
US – First Industrial, the North American Real Estate Investment Trust (REIT), has arranged a new $110m (€78.6m) debt facility for its ventures with the California State Teachers’ Retirement System (CalSTRS).
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ProLogis steps up to support European Properties
US – ProLogis, the international logistics developer, has stepped in to help ProLogis European Properties (PEPR) by buying a 20% interest in the ProLogis European Properties Fund II (PEPF II).
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CPPIB buys into Turkish retail
CANADA - The Canada Pension Plan Investment Board (CPPIB) has invested €250m of equity in a Turkish retail fund.
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Fees transparency is improving - INREV
GLOBAL– European non-listed real estate funds are rapidly making their fee structures more transparent for investors and fund managers, according to the latest research by the European Association for Investors in Non-listed Real Estate (INREV).
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Investment options widened by CalPERS
UNITED STATES - California Public Employees Retirement System has approved a temporary new allocation range for real estate, and selected consultants for both timberland and infrastructure investing.
