Latest Alternatives News – Page 339
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Macro drives Euro growth as UK confidence boosts non-listed funds
EUROPE - Broad recovery in European property markets raises the prospect that markets such as Denmark and the Netherlands could escape the cyclical downturn altogether.
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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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Chinese investors buy back residential after pricing policy move
CHINA - A group of Chinese investors has acquired a prime serviced residential block in Shanghai from SEB Asset Management (SEBAM)’s Asian property SICAV – the latest deal in a trend for Asian investors to replace capital from European and US pension funds.
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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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APG acquires Nice shopping centre in three-way deal
FRANCE/NETHERLANDS - A three-way joint venture involving Dutch pension fund ABP has acquired Cap 3000, a Nice shopping centre, for €450m.
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CPPIB and Kimco join forces to hunt US retail
AMERICAS – The Canada Pension Plan Investment Board (CPPIB) has acquired a $166.5m (€125.8m) interest in four US shopping centers through a joint venture with Kimco Realty Corporation.
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Munich buy reflects the robustness of residential
GERMANY – An unnamed European institutional investor – understood to be a German pension fund – has acquired a fully rented 274-unit residential block in a Munich suburb for €42.1m.
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US housing recovers – but tax regulations deter foreign investors
UNITED STATES – The residential market in the US is recovering, but foreign investors will not be placed to capitalise on opportunities unless government tax restrictions are lifted.
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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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Local authority funds urged to invest in housing
UK – A real estate debt specialist has slated UK local authority pension funds for failing to invest in domestic social housing.
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ING REIM steps in to rescue Creed fund
ASIA – ING Real Estate Investment Management has taken over as general partner (GP) at an Asian real estate fund for the second time in 12 months.
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CalPERS takes social action to protect rent rates for lower-income households
UNITED STATES – The California Public Employees’ Retirement System (CalPERS) is seeking to prohibit excessive rent increases and involuntary displacement of low-income households in its US multi-family residential investments.
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Italian real estate scraped a positive return in 2009
ITALY – Capital values in Italian commercial property suffered the steepest decline in its seven-year history, falling by -4.6% in 2009, according to Investment Property Databank (IPD).
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Tennessee Consolidated nears real estate commingled holdings
UNITED STATES - Tennessee Consolidated Retirement System is getting close to making new investments in two core open-ended commingled funds, in a bid to gain diversification into office and retail real estate.
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UK residential returns outperformed commercial property - IPD
UK – Investment grade residential real estate in the UK has outperformed commercial property in the country over the past three, five and nine years, and delivered a double digit total return of 11% in 2009, according to International Property Databank (IPD).
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Spain tops the losses for IPD European returns
EUROPE – Spain experienced its second consecutive year of negative commercial real estate returns in 2009, while Germany and Switzerland remained relatively stable over the same 12-month period, according to Investment Property Databank (IPD).
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Unilever’s Progress nears end of direct real estate divestment
NETHERLANDS – CB Richard Ellis is in negotiations with an unnamed investor to exchange on the remaining assets of the domestic real estate portfolio of Progress, the Dutch pension fund of Unilever.
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Rothschild Realty sees fresh prospects for US housing
UNITED STATES - Rothschild Realty Managers has made a $100m (€74.9m) equity investment with Summit Housing Partners based in Montgomery, Alabama, on the back of renewed confidence in the housing market.
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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.
