Latest Alternatives News – Page 344
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SBZ begins direct portfolio sell-off
NETHERLANDS - SBZ, the €2.2bn Dutch pension fund for care insurer employees, has made its first two disposals of direct property holdings as part of a transition to a wholly indirect real estate exposure.
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German investors return home for safety
GERMANY – Interest in domestic residential property funds is rising among German institutional investors, according to German real estate fund manager Patrizia Immobilien.
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Crisis shrinks CALSTRS real estate commitments
UNITED STATES – The California State Teachers Retirement System made a total commitment to real estate of just $41.1m (€29.3m) in the first quarter of 2009, compared with over $1bn in the same period last year.
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Tesco makes second property pledge to pension
UK – Tesco, the global supermarket chain, has signed another sale-and-leaseback deal with pension fund trustees, which will see the fund take a 50% stake in assets worth £458m.
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Progress continues on real estate sale
NETHERLANDS - Progress, the Dutch pension fund of food giant Unilever, has sold three housing complexes in Breda, Groningen and Nijmegen as it continues to divest its directly-held domestic real estate portfolio.
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Pension funds show interest in UK housing
UK – European pension funds who would not traditionally invest in UK rental housing may do so for the first time through an initiative to kick start investment in UK private residential property, according to a UK government body.
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UK residential may be on the up – index fund manager
A real estate investment house has claimed investing in UK residential housing “may have turned a corner”, although physical house price rises are still increasing at a very slow rate.
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BP pension fund shops for real estate
UK - The £20.3bn (€23.1bn) pension fund for BP has bought an out-of-town retail park in the UK and an office building in London, and plans to invest a further £100-150m in its domestic real estate market before the end of the year.
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USS keeps shopping for UK real estate
UK - The £28bn (€31.7bn) Universities Superannuation Scheme has bought large retail and industrial assets in the UK and plans to make more acquisitions in the near future as it looks to rebuild its domestic portfolio.
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F&C Reit sees opportunity in distress
GLOBAL - F&C REIT Asset Management has launched its first fund, an opportunistic institutional vehicle targeting distressed situations in the UK and with an internal rate of return (IRR) of more than 20%.
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Do your ‘debt’ due diligence - Partners Group (amended)
GLOBAL - Debt is the new investment buzzword but a warning has been sounded about the critical importance of performing thorough due diligence on real estate debt products.
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Rockwood Capital hits fundraising target
UNITED STATES - Rockwood Capital has closed the money raising on its Rockwood Capital Real Estate Partners Fund VIII just shy of its target, at $964m (€720.6m).
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NYSTRS extends its real estate limits
UNITED STATES - New York State Teachers Retirement System has bought a further share in a real estate backed by a European pension fund, as well as extending current management contracts.
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UK seeks pension fund investment in housing
UK - Plans to encourage pension funds to invest in private rented housing have been announced by the UK government’s Housing and Communities Agency (HCA).
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Texas Teachers to invest $475m in LLPs
UNITED STATES - Teacher Retirement System of Texas is in the process of setting up two limited partnership funds with assets of $475m (€358.1m) which could make it the only pension fund investor.
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PERE funds struggle to close
GLOBAL – Private equity real estate funds are finding it tough to reaching closing fund-raising positions and almost as many as last year have already abandoned the task, according to research conducted by Preqin.
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IPD claims German buoyancy may attract investors
GERMANY – The IPD Germany Annual Property Index showed Germany’s property returns proved more resilient during the downturn than most European real estate markets – a situation which the body argues is likely to draw more institutional investors into the market.
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Kesko sign sale-and-leaseback deal with pension fund
FINLAND – The Kesko Pension Fund has bought four retail properties for €50m from the Finnish trading company Kesko Group.
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Pensions investors enticed by Catalyst opportunities
EUROPE – Catalyst Capital LLP, a European investment and asset management firm, has secured the support of major institutional investors for its €228.5m pan-European property fund.
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West Midlands makes supermarket sweep
UK – The West Midlands Pension Fund has purchased a £36.5m (€39.6m) supermarket property in Birmingham from Land Securities, to strengthen its position for the future.
