Latest Alternatives News – Page 348
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Negative rental growth now global
GLOBAL – Rental growth has turned negative on a global scale and the downturn in emerging markets is accelerating, the Royal Institute of Chartered Surveyors (RICS) finds in its latest quarterly global report.
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UK sets new record for fall in capital values
UK – UK commercial property capital values fell by record levels last month, according to Investment Property Databank (IPD).
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UK will start to recover in 2010 – Schroders
UK – The UK commercial real estate market will not stabilise until the latter part of 2009 but should begin to recover in 2010 according to Schroder Property.
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Orion ready for European bargains
Europe – Orion Capital Managers has raised €900m of capital for its latest opportunistic property fund which will aim to buy bargain real estate across Europe.
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CalPERS’s housing values plummet
UNITED STATES – The California Public Employees’ Retirement System (CalPERS) announced yesterday a 35% decline in the market value of its residential real estate portfolio.
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Land Securities abandons demerger plans
UK – Land Securities announced yesterday in its half-yearly annual results that “adverse market conditions” have forced the firm to abandon its demerger plans in order to protect shareholders’ interests.
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LaSalle launches UK opportunity fund
UK – LaSalle Investment Management is raising a £400m (€487m) opportunity fund to take advantage of declining property values and potential distress in the UK real estate market.
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NYSTRS invests in warehousing and debt
UNITED STATES – New York State Teachers’ Retirement System (NYSTRS) has added to its real estate portfolio by investing in an industrial commingled fund and by making several investments in debt real estate.
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Crisis of confidence for UK property
UK – Confidence has collapsed across the UK real estate sector according to Smith & Williamson’s latest annual survey.
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Opportunistic funds continue to attract capital – Clerestory
GLOBAL – Capital continues to be raised globally for opportunistic real estate funds, albeit at a slower pace, despite the credit crunch and falling economic growth, according to research from Clerestory Capital Partners.
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Axa REIM shifts into distressed debt
EUROPE – Axa REIM, the real estate arm of Axa Investment Managers Group, is holding back from investing in European markets because it predicts property prices will drop even further and will concentrate on buying distressed debt.
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CPPIB invests fresh CA$1.4bn in real estate
CANADA – The Canada Pension Plan Investment Board has expanded its real estate portfolio with $1.4bn worth of new investments, bringing the fund’s total real estate commitments to $8.4bn.
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CBRE trust widens into UK retail
UK - The CB Richard Ellis Realty Trust has expanded its property holdings outside of the United States after purchasing a second major UK retail park.
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'Flat' review sparks talk over UK housing potential
UK – A government-commissioned report on proposed reforms for UK rented housing has sparked a debate which suggests the country’s top property experts disagree on the best way to help investors tap opportunities in the UK’s residential marketplace.
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Grosvenor to buy a ride on the Chinese dragon
ASIA/UK – Grosvenor, the London-based group of international property investment, development and fund management businesses, has launched a $600m (€468.7m) China retail fund.
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Alameda County opts out of JP Morgan commingled fund
UNITED STATES - Alameda County Employees Retirement Association has decided it wants to pull out of its commitment to JP Morgan’s Alternative Property Fund.
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Ohio PERS grabs opportunity to look beyond the value-add
UNITED STATES - Ohio Public Employees Retirement System will be shifting some of its investment capital in real estate to an opportunistic strategy in a bid to tap the little investment likely to surface over coming months.
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CalPERS reserves $400m for hotel fund
UNITED STATES - California Public Employees Retirement System has made a $400m (€300.4m) commitment to the Starwood Capital Hospitality Fund II, following earlier success with an first version of Starwood’s specialist fund.
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Financial stress showing on apartment complex
UNITED STATES- The Stuyvesant Town/Peter Cooper Village apartment complex in New York, which is backed financially by pension funds, is going through some financial stress.
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GIC to invest in debt fund worth $2.5bn
UNITED STATES - Divco West Properties and LoanCore Capital have come together to form a $2.5bn (€1.8bn) investment fund which will target real estate debt opportunities at major institutional investors such as Singapore’s GIC.
