Latest Alternatives News – Page 129
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Whitbread wannabes in UK underestimate complexity, says Punter Southall
UK – UK pension funds considering property to plug their pension gaps are looking at overly complex structures to do it, according to research by consultancy Punter Southall on the recent Whitbread property partnership.
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Emerging markets to lead revival of luxury retail sector, says Colliers
GLOBAL – Rents in the luxury retail sector are set to increase in the near term after a two-year hiatus, according to Colliers International.
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Interest rate swaps blocking UK disposal pipeline, Savills says
UK – The prohibitive cost of unwinding interest rate swaps on real estate debt is preventing financial institutions from offloading a growing volume of distressed UK assets, according to Savills.
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US and Ireland set for spike in distressed sales
GLOBAL – Ireland and the US are expected to see a significant increase in distressed real estate sales in the short term, according to research from the Royal Institute of Chartered Surveyors (RICS).
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Listed timber fund grows Chinese exposure
CHINA – A London-listed timber vehicle funded mostly by UK and European pension schemes is acquiring Chinese assets in a bid to build up a significant market-specific portfolio.
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East Riding gains indirect exposure to healthcare development
UK – A listed healthcare property fund that has the £1.6bn (€1.86bn) East Riding local authority pension scheme as its third largest investor last week acquired a primary care health centre development for £5.7m.
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VR Pension buys Tampere hotel development
FINLAND – VR Pension, the €920m Finnish state railway workers pension scheme, has agreed a joint venture with Stockholm-based hotel firm Scandic to build a hotel in the centre of Tampere, Finland’s second largest city.
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German nursing home fund targets smaller pension investors
GERMANY – Small pension funds from outside Germany will invest in a fund dedicated to German nursing homes, according to fund manager Felix von Braun, a former managing director of Savills.
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Investors look past prime to secondary assets
EUROPE - European pension funds will look to secondary assets in search of higher returns as economies recover across the region, according to Simon Mallinson, director of research at Invesco.
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BarCap to sell stake in university housing arm
UK – Barclays Capital is to sell part of University Partnerships Programme (UPP), its on-campus student accommodation manager, in a bid to raise £800m (€933m) for projects that will double the size of its portfolio.
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Pension funds tap long-term potential of old age
UK – The raising of £80m (€92m) in new equity for a UK social infrastructure fund reflects pension fund appetite for long-term investments linked to inflation, according to Aviva Investors fund manager Neil Gardiner.
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Mass PRIM rebuilds timber portfolio
UNITED STATES - Massachusetts Pension Reserves Investment Management Board (Mass PRIM) is to invest a further $500m ($376m euros) in US timber after selling a $700m section of its portfolio approximately three years ago.
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Ireland’s NAMA takes on property-backed 'bad bank' loans
IRELAND – The Irish government has confirmed its National Asset Management Agency (NAMA), or so-called ‘bad bank’, has started to take €16bn worth of troubled real estate loans on to its books.
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BRIC-built recovery expected - JLL
GLOBAL – The BRIC countries will lead the global real estate market recovery as their economic expansion boosts occupier demand across all sectors and cross-border investment returns, according to Jones Lang LaSalle (JLL).
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Morgan Stanley launches secondaries fund
GLOBAL – Morgan Stanley has launched the first real estate fund of funds vehicle dedicated specifically to acquiring secondary interests in existing funds.
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Texas Teachers seeks growth in agriculture
UNITED STATES - Teacher Retirement System has made its first ever investment in agriculture with a $250m (€145.9m) commitment into the AG Real Value Fund, managed by Teay’s River Investments.
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Arizona Public Safety takes opportunistic strategy in real estate
UNITED STATES - Arizona Public Safety Retirement System intends to make at least two more real estate commitments to commingled funds by investing through a US opportunistic strategy in 2010.
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CalSTRS loses $83m as Fairfield moves to Chapter 11
UNITED STATES- California State Teachers Retirement System (CalSTRS) has taken an $82.9m (€61.2m) hit in its real estate portfolio as one of its investments, Fairfield Residential LLC, has filed for Chapter 11 bankruptcy protection.
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Responsible investment fund to develop UK care homes
UK – A new socially-responsible real estate fund backed by local authority pension funds has invested in the UK care home sector.
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ING Clarion deal signals market re-entry
UNITED STATES- ING Clarion Partners has shown its belief in the comeback of the real estate market and made its first acquisition in over two years for the Clarion Development Ventures III commingled fund.
