Latest Alternatives News – Page 347
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Activity sees IVG buy German retail from AEW
Europe – AEW Europe’s pan-European fund has sold its prime retail asset in Hamburg for €94m, proving the German real estate market is still showing signs of activity despite the credit crunch.
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Higher yields allude to lower income growth - CBRE
EUROPE – Yields across all commercial sectors in Europe, Middle East and Africa markets have increased in the fourth quarter of 2008 and may reflect a poor outlook for rents, according to latest data from the CB Richard Ellis EU-15 yield indices.
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ING enters Polish retail space
Czech Republic – ING Real Estate Investment Management has acquired a €125m shopping centre in the Czech Republic and added it to the ING Property Fund Central Europe.
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Henderson weds Croom for retail property (amended)
EUROPE – Henderson Global Investors has appointed Katherine Groom as portfolio manager for its pan-European retail property fund, Herald.
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More than €50bn waiting to be deployed in Europe
EUROPE – More than €50bn of equity is targeting European commercial real estate this year, according to the latest European capital markets research carried out by Jones Lang LaSalle (JLL).
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Over-exposed Alaska Retirement issues redemption queues
UNITED STATES – Alaska Retirement Management Board (ARMB) is to issue $103m (€76.3m) of redemption queues on three open-ended commingled funds as its allocation to real estate exceeds its strategic target.
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Illinois State Universities to capitalise on 2009 opportunities
UNITED STATES – State Universities Retirement System of Illinois has entered into the opportunistic real estate space by making a $40m (€29.4m) commitment to the Dune Real Estate Fund II.
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EDHEC launches French index
FRANCE – French business school EDHEC has launched a monthly index for commercial property in France with the help of the Institut de l'Epargne Immobilière et Foncière (IEIF), an independent French real estate research institute.
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Hypo Real Estate faces claims for damages
GLOBAL – Pension funds are making the first claims for damages against Hypo Real Estate (HRE) for failing to reveal its financial difficulties sooner.
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ProLogis steps up to support European Properties
US – ProLogis, the international logistics developer, has stepped in to help ProLogis European Properties (PEPR) by buying a 20% interest in the ProLogis European Properties Fund II (PEPF II).
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CPPIB buys into Turkish retail
CANADA - The Canada Pension Plan Investment Board (CPPIB) has invested €250m of equity in a Turkish retail fund.
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Investment options widened by CalPERS
UNITED STATES - California Public Employees Retirement System has approved a temporary new allocation range for real estate, and selected consultants for both timberland and infrastructure investing.
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Icade REIT considers residential sale
FRANCE - Icade, a subsidiary of Caisse des Dépôts and one of the largest Real Estate Investment Trusts (REIT) in France, is considering selling its entire housing unit.
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MPL taps buy-to-let repossessions
UK – Managing Partners Limited's British Property Opportunities Fund is expecting to return over 10% in its first year by snapping up bargain repossessed UK properties from banks at 30%-discounted prices.
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UK commercial sees investment halve
UK – Jones Lang LaSalle has predicted direct investment in UK commercial real estate will have dropped by approximately 55% year-on-year by the end of 2008, to stand at around £21bn (€24bn).
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Surveyors predict further 25% UK drop
UK – Commercial property capital values are predicted to fall a further 25% over the next two years, according to the latest forecast issued by the Royal Institution of Chartered Surveyors (RICS).
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OMERS makes strategic move to private equity
CANADA – The Ontario Municipal Employees Retirement System (OMERS) has launched a new investment entity which will invest in private companies focused on real estate development, airports and energy.
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CalSTRS awards capital to existing managers
UNITED STATES - California State Teachers Retirement System has bucked the trend and issued new capital to real estate managers, to could be used for potential investment in 2009.
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Diebold’s pension moves into real estate
UNITED STATES - Diebold Corporation’s $450m (€356.5m) defined benefit pension fund has made its first move into real estate investment and made a $10m commitment to JP Morgan’s open-ended Strategic property fund.
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UK REITs could turn market liquidity - Deloitte
UK – UK residential Real Estate Investment Trusts (REITs) will be attractive propositions for institutional investors and could help bring liquidity into the market, according to experts attending an IPD pre-conference meeting in Brighton yesterday.
