Latest Alternatives News – Page 316
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Hotels lose clients but grow revenues
UK - Despite flattening occupancy rates, UK hotel revenues will increase by 6.2% in 2007—8, according to a report published by PricewaterhouseCoopers.
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Unite transfers UK student assets
UK - Student accommodation developer Unite has sold assets in Glasgow, Leeds and Bristol to its Unite UK student accommodation fund for £81.8m (€118m) in cash.
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Austrian prices ‘good for two more years’
AUSTRIA - Recovering office across European markets still offers yields as a sector no longer available in retail and industrial, according to property firm Matrix.
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Stunted supply boosts European retail
EUROPE - European pension funds are on a regional shopping spree motivated by a limited supply of new assets in low-risk markets, according to Aberdeen fund manager Nico Tates.
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Indiana PERF searches for core and REIT managers
UNITED STATES - The Indiana Public Employees Retirement Fund is now searching for real estate managers for core and REIT strategies through new RFPs.
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CalSTRS expands JV to $500m
UNITED STATES - California State Teachers Retirement System has expanded its real estate joint venture relationship with Pacific Coast Capital Partners by investing a total of $500m (€353m) into two ventures.
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San Diego City targets non-US real estate
UNITED STATES - San Diego City Employees Retirement System has approved its first ever targeted allocation for non-United States real estate investments.
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Pension funds "ready for Russian real estate"
RUSSIA - Pension funds – at least Nordic ones – are ready to invest in Russian real estate, having overcome earlier reluctance concerning the complexity of the market, according to Ole Dall-Hansen, chief executive of Aberdeen Property Investors Eastern Europe.
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Pension funds show distressed debt interest
UNITED STATES – US pension funds are considering placing real estate capital into debt strategies on the back of recent market turbulence.
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Thomas Properties goes green
UNITED STATES - Thomas Properties Group has formed its first green investment fund as pension funds are now turning their attentions to sustainable real estate investments.
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New Jersey tries on separates
UNITED STATES - The New Jersey Division of Investment is shifting into the use of real estate separate accounts and has hired General Motors Investment Management for a $150m (€106.4m) equity mandate.
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RREEF expects US cap rates to climb
UNITED STATES – RREEF has predicted cap rates on the purchase of existing US properties will rise by 50 basis points by the end of 2007.
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Ex-army ‘new town’ set for sale
UK - The UK government is to sell off decommissioned land earmarked for the development of a new town in southeast England.
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UK hotel buy bucks prime trend
UK - Deutsche Bank real estate subsidiary RREEF has bucked a trend towards international prime hotel acquisition by acquiring the Four Pillars Hotel Group, which has five mid-sector assets in Oxfordshire and Gloucestershire.
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US pension funds buy opportunity
UNITED STATES - Pension funds in the United States are investing more capital into commingled funds with opportunistic investment strategies.
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Pension funds fuel urban investment trend
UNITED STATES - Pension funds in the United States are putting more capital into an urban investment strategy on the back of young professionals’ demand.
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Land investment is the new real estate
UNITED STATES - Real estate managers are investing in land as a new specialist investment strategy.
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CalSTRS extends senior housing exposure
UNITED STATES - California State Teachers Retirement System has expanded an existing joint venture with California-based Vintage Senior Advisors and invested more money in its senior housing venture.
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Irish pension fund sells retail stores
IRELAND – The Irish Property Unit Trust is selling some of its retail investments in Cork and Limerick, as well as an office block in Dublin, to finance its stake in a new Cork retail property project.
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Pension funds give euro focus to Goodman
EUROPE – Asset management firm Goodman Property Investors has picked up a series of new European real estate mandates from pension funds in recent months, the latest of which is from GlaxoSmithKline (GSK).
