All Real Assets articles in January 2006 (Online)
View all stories from this issue.
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News
DB Real Estate plans €1bn sale
GERMANY – DB Real Estate, the property fund arm of Deutsche Bank, will sell €1bn worth of real estate holdings from its embattled core German fund to boost the fund’s liquidity, banking sources said. The sources, who asked not to...
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Irish reserve fund plans €2bn real estate move
IRELAND – Ireland’s €15.3bn National Pensions Reserve Fund is to divert 8% of its equity holding into real estate over the next five years after a strategic review revealed its cautious asset allocation formula was failing to maximi...
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Colonia names Aareal’s Krauss as CIO
GERMANY – Colonia Real Estate has nabbed Edgar Krauss from Aareal as chief investment officer in a move it hopes will boost its ambitious acquisitions strategy. Stephan Rind, CEO of the Cologne-based firm, said Krauss’s appointment wo...
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ING Real Estate boosts Asia team
ASIA - ING Real Estate has charged its managing director for Singapore, Peter Wittendorp, with doubling assets under management in Asia to $3bn within two years. Wittendorp, who adds the newly-created position of chief investment officer to his c...
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PKA’s Gunnergaard to set up consulting firm
DENMARK – Troels Gunnergaard, the head of property investment at Pensionskassernes Administration (PKA), has resigned to establish his own consulting firm, Gunnergaard Consult. IPE understands that Gunnergaard’s new consultancy will be...
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US schemes eye international real estate securities
US - There is going to be more interest from US pension funds this year in investing in international real estate securities. One of the leaders in this trend will be the California Public Employees Retirement System. The pension fund is looking a...
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Hermes real estate team renamed, revamped
UK – Hermes, the asset manager owned by the BT Pension Scheme, has restructured its real estate team in a bid to increase its market savvy. Under the new structure, dedicated fund managers will narrow their focus to concentrate on specific...
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LaSalle names Lyon as European finance head
EUROPE - LaSalle Investment Management has appointed Jamie Lyon to head its European finance and operations as it gears up for another year of expansion via increasingly complex deals. Lyon, former finance director of developers ProLogis, will br...
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RREEF buys AMB industrial portfolio
US: RREEF has acquired the AMB Institutional Alliance Fund I industrial portfolio for $618 million. The investment manager made the purchase on behalf of its commingled fund RREEF America II. Industry experts have indicated that the cap rate on...
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Investors scramble for London assets
Real Estate investors are showing no loss of appetite for London-based assets, according to a Jones Lang LaSalle market report. Last year exceeded all records with £15.38 billion of real estate traded – a 41% increase on 2004’s figur...
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Viva España – but Brits don't buy it
UK investors are overcoming their reluctance to invest in continental European real estate – but not quickly enough, according to Ian Hally, head of real estate research at Scottish Widows Investment Partnership (SWIP). The potential for hig...
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High vacancies persist in European office buildings
Seven major European cities will continue to face high vacancy rates in office buildings over the next two years despite a more robust European market, a new study claims. The study, compiled by German real estate fund provider Oppenheim Immobilie...
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UBS eyes Paris, buys in Munich
UBS has acquired a €50m Munich office block for its recently-launched European office real estate fund, and expects to buy two more offices in Paris. The net initial yield from the German property is 8%. The UBS (Lux) Euro Value-Added Real ...
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Tricon Capital invests in senior housing
US: Tricon Capital Group has established a joint venture with Lakemont Homes to develop a 289-unit for seniors at Eskaton Village, Roseville, California. These “homes in the community” will range from around $350,000 to $450,000. I...
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Protego taps PGGM exec for Dutch push
NETHERLANDS – Protego Real Estate Investors has hired Peter de Haas, senior portfolio strategist for real estate at Dutch healthcare fund PGGM, to head its new Dutch office. He is to join the firm founded by Iain Reid, the former head of Abe...
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More risk for little extra return
Real estate investors will have to take on more risk to secure only marginally higher returns, according to Investment Strategy Annual, a survey of global real estate markets by LaSalle Investment Management. But the report believes European off...
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JPMorgan Fleming seeks meaningful relationships
US: JPMorgan Fleming Asset Management has established relationships with operating partners in senior housing, hotels and shopping centres to acquire assets for its commingled fund, the Special Situation Property Fund. The move is reflective of ...
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Canadian pension’s $2bn push into global real estate
US: The Ontario Municipal Employees Retirement System (OMERS) wants to invest around US$2bn (EUR 1.66bn) in global real estate. The first stage will be an investment of US $750m in the US market. The pension fund will work via a real estate operating...
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Invesco poaches Rodamco’s Monge for Spanish acquisition
Invesco Real Estate has appointed Alejandro Monge to head its Spanish acquisitions. He joins from Rodamco, where he was head of investment responsible for the acquisition and sale of real estate assets. Having built a Spanish portfolio worth ...
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Hypo sells more debt but holds out for best deal on the rest
HypoVereinsbank has sold some of its non-performing real estate loans to Goldman Sachs for €2.17bn. But the German bank claims it’s in no hurry to hive off the remaining 50% of a portfolio that no longer fits its strategy. “We&#...
