All Real Assets articles in July 2007 (Online) – Page 2
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News
SBZ reduced property stake by one-third
NETHERLANDS – SBZ, the industry-wide pension fund for care insurers, said it has decreased its investments in property by 5% to 10% of its total portfolio and will focus its immediate attention on Dutch direct real estate. At least 75% of th...
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News
PAIFs to match REITs tax status
UK – Pension funds and charities will no longer face a tax penalty if they invest in UK property authorised investment funds (PAIFs) from next year as government reforms will give the investments tax status equal to real estate investment trust...
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News
LPFA moves property from UTs to mandate
UK - The London Pensions Fund Authority (LPFA) has appointed ING Real Estate to manage a £150m global property mandate. Philip Jones, investment manager at LPFA – which administers the pensions assets for 783,000 pension fund members &#...
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Europe sees ‘flight to quality’
GLOBAL - A slowdown in investment in some markets has done little to dent global investment in real estate, according to figures published by Jones Lang Lasalle (JLL). Direct investment in the first half of 2007 totalled US$382bn (€276bn), ...
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UK pooled property funds outperform equities
UK - Pooled property funds outperformed both real estate equities and real estate investment trusts (REITs) in the past year, despite evidence of cooling in the UK real estate market. According to data published last week by IPD, pooled real esta...
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Phillips Edison to market new commingled fund
UNITED STATES - Smaller retail properties are among the most difficult for pension funds to buy on their own in the United States – at least that is what Phillips Edison & Company is banking on as it prepares to market its next commingled f...
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ING Clarion to create global opportunity space
UNITED STATES - ING Clarion Partners is establishing a global opportunity platform with the hiring of David Gilbert as a managing director and portfolio manager. This new entity will see the real estate manager pull together opportunity funds to i...
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Pension fund’s shopping centre expands its remit
UNITED STATES - The Alaska Permanent Fund Corporation and Macerich Company are now in planning for the expansion of a 3.5 million retail real estate in Virginia which will see the retail project cross property sectors. The Tyson’s Corner Cen...
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News
CalSTRS sells large industrial portfolio
UNITED STATES - California State Teachers Retirement System (CalSTRS) has sold one of its largest industrial portfolios to ProLogis, in a transaction worth $1.85bn (€1.34bn). ProLogis made the purchase, financed by cash and $100m of assumed ...
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LACERA eyes Asia in its portfolio
UNITED STATES - Los Angeles County Employees Retirement Association has increased its international real estate portfolio by committing capital to two new investment funds. Each investment was for $25m (€18.1m) into the AIG Asian Real Estate...
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News
IVG fires fund arm board member
GERMANY – Siegfried Cofalka has been fired with immediate effect as board executive at OIK, the fund arm of listed German real estate firm IVG Immobilien. IVG declined to disclose the reason for its abrupt dismissal of Cofalka but said Peter...
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News
SLI sells off property after cutting funds’ value
UK - Standard Life Investments (SLI) last week sold off a six-property portfolio from its Property Income Trust for £41.5m (€61.8m) – just days after it announced would cut the value of five of its property funds by 6.7%. In an a...
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West Midlands awards ING £560m property mandate
UK - The £7.8bn (€11.6bn) West Midlands Metropolitan Pension Fund has awarded ING Real Estate a £560m advisory mandate to manage its UK direct property portfolio. The deal – one of UK’s largest pension fund property man...
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VastNed Offices eyes German market
GERMANY - Property investor VastNed Offices-Industrial wants to expand its German office portfolio up to €500m, the firm has announced. The company’s German portfolio has now hit €90m thanks to a recent acquisition - a €37....
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News
San Diego makes its first overseas play
UNITED STATES - San Diego City Employees Retirement System has approved its first ever international real estate investment by allocating $30m ($22m euros) to the Colony Investors VIII commingled fund. San Diego City is expected to make at least o...
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Private equity wins student halls contract
UK - Private equity firm UPP last week won a contract to build undergraduate accommodation for the UK’s Loughborough University – an indication of increasing competition in a market gained momentum as a niche within a saturated real estat...
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News
CB Richard Ellis Investors creates M&A team
UNITED STATES - CB Richard Ellis Investors has hired two people to create a new mergers and acquisitions team within its company. The real estate manager has enticed Deborah Smith and June Yu away from Lehman Brothers to become senior managing dir...
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News
Pension funds take careful steps with real estate
EUROPE - Pension funds may display more caution in their real estate investment decisions over the coming months because of emerging signs of a slowdown in yield returns. Hans Op’t Veld, senior investment strategist for structured investment...
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News
CalSTRS seeks tripled exposure to tap overseas growth
UNITED STATES - California State Teachers Retirement System is making a significant move to almost triple its exposure to international real estate over the next four years to tap the investment potential of office space. The pension fund believes...
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Morgan Stanley buys Daewoo Korea HQ
KOREA - Morgan Stanley is to boost its property investments in the Korean market with the acquisition of Daewoo Engineering Headquarters in the capital, Seoul, for 960bn won (€0.76bn). AHI Holdings, a real estate fund managed by the bank, w...
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