Latest Alternatives News – Page 337
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Union Investment sells prime UK office building after 12 months
UK – Union Investment has sold a prime London City office building to Hammerson and the Canada Pension Plan Investment Board (CPPIB) after buying it only 12 months ago, netting more than £34m (€41m) in capital appreciation in the process.
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Luxembourg Fund Partners to launch high-tech fund for CEE region
EUROPE – Luxembourg Fund Partners is set to launch a fund focusing on high-tech real estate in central and eastern Europe (CEE).
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Oklahoma Teachers to invest $425m in core strategy
GLOBAL – The Teacher Retirement System of Oklahoma is planning to invest $425m (€324.1m) into a core, open-ended commingled fund strategy.
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Henderson targets local interest with German retail fund
GERMANY – Henderson Global Investors is seeking to tap demand from German institutional investors for exposure to their domestic retail sector.
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Kansas PERS invests $30m in Harrison Street fund
GLOBAL – The Kansas Public Employees Retirement System has approved a $30m (€23.1m) commitment to the Harrison Street Real Estate Partners III commingled fund.
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European occupancy markets dragged down by austerity measures
GLOBAL – While occupier demand is rising in the majority of countries across the globe, austerity measures to reduce fiscal deficits are causing a drag on euro-zone and UK real estate markets, according to the latest global report from the Royal Institute of Chartered Surveyors (RICS).
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Valad takes over management of €480m Swedish portfolio
SWEDEN – Valad Europe, the pan-European, multi-let real estate investment management business of Valad Property Group, has been appointed to take over the investment management of a €480m property portfolio in Sweden.
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Specialist funds outperforming market in UK, says IPD
UK – Pooled UK real estate funds have delivered returns of more than 20% over the past 12 months, but only those with specialist and niche strategies outperformed the underlying direct market, according to Investment Property Databank (IPD).
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Real estate fundraising plummets to 2004 levels: Preqin
GLOBAL – Capital raised by private equity real estate fund managers has fallen to the lowest level since 2004, according to data providers Preqin.
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Shopping centre fund opens doors to £1bn CMBS restructure
UK – One of the biggest restructurings of commercial mortgage-backed securities (CMBS) since the start of the financial crisis has been given the go-ahead for a leading UK shopping centre fund.
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Warburg-Henderson launches follow-up Austrian fund
AUSTRIA – Warburg-Henderson, the German business of Henderson Global Investors, is seeking to raise capital from German, Austrian and Swiss institutional investors for its second Austria-focused real estate fund.
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Tesco moves to release value from property portfolio
LONDON – Tesco has agreed a second sale and leaseback of properties with the Tesco Pension Fund Trustees in an effort to release value from its property portfolio.
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Denmark's AP Pension targets UK through Rockspring
EUROPE – Denmark's AP Pension has invested in Rockspring Property Investment Managers' new UK real estate fund.
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Mass PRIM issues request for core separate account manager
GLOBAL – Massachusetts Pension Reserves Investment Management (Mass PRIM) has issued a Request for Proposal for a core, separate account real estate manager.
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APG backs Pramerica debt strategy
EUROPE – APG Asset Management, the wholly-owned investment manager of the ABP pension fund, is one of a number of investors to have invested in a European real estate debt strategy run by Pramerica Real Estate Investors.
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Progress to reinvest direct capital in Dutch ING REIM funds
NETHERLANDS – Progress, the Unilever pension fund, has decided to invest in two Dutch real estate funds managed by ING Real Estate Investment Management following the disposal of its directly held domestic portfolio.
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Investors in PE funds mark shift in 'balance of power'
GLOBAL – Institutional investors believe the concessions they have rung from private equity real estate managers in the past year represent a permanent change in the balance of power, according to private equity data firm Preqin.
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Under-supplied CEE region offers 'alternative' to emerging markets
EUROPE – Debt-free investors should view Central and Eastern European (CEE) real estate as a lower-risk alternative to investing in emerging markets, according to Holger Schmidtmayr, board member of Austrian property firm Sparkassen.
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Finland's Veritas offloads residential portfolio to Germany's Patrizia
EUROPE – Finnish pensions insurer Veritas has sold a 113-asset portfolio to German fund manager Patrizia in the first residential deal involving an investor based outside the region.
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Texas Teachers commits $800m to real estate investment
GLOBAL – The Teacher Retirement System of Texas has made more than $800m (€650.5m) in real estate investment – a mixture of core, value-added and infrastructure strategies – in the last month.
