All Real Assets articles in January 2006 (Online)
View all stories from this issue.
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News
Oregon pension fund makes real estate moves
REAL ESTATE - The Oregon Public Employees' Retirement Fund made two real estate moves at its recent board meeting. It invested $150m into the Keystone Industrial Fund and established a value-added category for its real estate investment program. ...
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Dutch funds eye UK property derivatives
REAL ESTATE - Dutch investment institutions are being targeted to come to the aid of the emerging property-based derivatives market in London. Industry sources believe the Dutch institutions could boost the sector because of their greater sophist...
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Rodamco names Shell executive as CFO
REAL ESTATE – Rodamco Europe has named Shell finance executive Peter van Rossum to take over from former chief financial officer John de Die. It said van Rossum, 49, would join the company in April. He’s currently regional finance dire...
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Call for uniform real estate earnings
REAL ESTATE - Real estate investment institutions should introduce a uniform statement on reporting on net asset value and earnings per share, the European Public Real Estate Association has advised its members. According to EPRA, the introduction...
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Bank of New York buys Urdang
REAL ESTATE - Urdang Capital Management has signed a definitive agreement to be acquired by The Bank of New York. Urdang is a Pennsylvania-based real estate investment management firm. The transaction is set to close by either the end of Febru...
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GE venture bags Italy business
REAL ESTATE - GE Real Estate is to buy part of Italian bank Unicredit’s non-performing loans business as part of a joint venture with ABN AMRO. In the recently concluded first tranche of the €1.8bn deal, the partners paid €269m ...
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Aussie trusts eye Europe and Asia
REAL ESTATE - Australian listed property trusts (LPTs) have been steadily increasing their overseas exposure and turning their focus to Europe and Asia at the expense of the US market. This is the finding of Melbourne research group PIR. Its anal...
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Hotel sector heats up in Asia
REAL ESTATE - With strong economic growth across Asia and tourism numbers rising steadily, real estate investors are enthusiastically buying into hotels in the region. Jones Lang LaSalle recently conducted a survey on hotel investment, targeting ...
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APUT enters INREV territory
REAL ESTATE - The Association of Property Unit Trusts (APUT) is to embrace the entire UK unlisted fund sector and has changed its name to the Association of Real Estate Funds (AREF). New chairman Nick Cooper (who is also managing director of ING ...
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German association aims to restore confidence
REAL ESTATE – Fund industry association BVI has unveiled a set of sweeping measures aimed at shoring up German open-ended property funds, which have been battered by panic-selling and unprecedented fund closures. Chief among the measures is ...
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Dutch pension fund tenders €500m
REAL ESTATE – A Dutch pension fund has tendered up to €500m in Asian and European real estate via the IPE-Quest system. The fund expects to invest up to €250m into Asia (including Japan) and a similar sum into Europe during 2006 ...
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Hypo Real Estate 2005 financing booms
REAL ESTATE – Hypo Real Estate gained €22.3bn in new real estate financing business in 2005, up from €12.6bn in the previous year. It said the figure was “considerably higher” than its 2005 target of €13.5bn. ...
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Tishman closes $1bn fund
REAL ESTATE - Asset manager Tishman Speyer has closed its largest fund to new investors after raising more than $1bn to invest in high-end US commercial property. The Tishman Speyer Real Estate Fund VI has invested in nine properties to date, inc...
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JER Partners buys hotel portfolio in Colorado
US: Real estate fund manager JER Partners has acquired a 785-room hotel portfolio in Colorado for US$53m (EUR 43.8m). Branded as TownePlace Suites by Marriott hotels, the portfolio is based on six properties in the greater Denver area and one in Colo...
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SWIP buys City offices, sells shops
Scottish Widows Investment Partnership (SWIP) is to acquire Halsbury House, a central London office property, for £35m. SWIP spokeswoman Beth Cameron said the current tenant, Reed Elsevier subsidiary Lexis Nexis, would continue as the building&#...
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Mapely to issue more shares and buy more offices
Mapeley, the Fortress-backed firm set up to bid for privatised UK public-sector property, says it will raise £100m from a share issue at the end of January. The firm, which floated last year, will use the proceeds of the new sale to buy more...
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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&#...
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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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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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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 ...
