Latest Alternatives News – Page 358
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Corio to divest office and industrial portfolios
NETHERLANDS - The €6bn property investment and management company Corio has decided to go ahead with divesting the major part of its offices and industrial portfolios, and to further focus on its retail activities.
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Washington State ups real estate allocation
UNITED STATES - Washington State Investment Board has decided to boost its real estate allocation from 12% to 13%.
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Texas Teachers invest in land banking
UNITED STATES - Teacher Retirement System of Texas has approved a commitment of $150m ($101.4m euros) into the Stratford Land Fund III commingled fund, as there is now less appetite for building physical developments.
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Apartments hit most by market shift – Pramerica
UNITED STATES - Pramerica Real Estate Investors is predicting the apartment market will be the most affected of all major property types by the recent changes in the residential housing and credit markets.
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Lehman Brothers creates retail JV in Italy
UNITED STATES - Lehman Brothers Real Estate Partners has formed a new joint venture with B Consulting for the development of new retail properties in Italy.
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Sainsbury JV to unlock property value
UK - UK supermarket giant Sainsbury’s has entered into a joint venture with property firm Land Securities, aimed at active management of its property portfolio.
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CalPERS commits $250m to int'l opportunity
UNITED STATES - California Public Employees Retirement System has approved a $250m (€171.1m) commitment into the Rockpoint Real Estate Fund III which is currently only holding investments in Japan.
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Fillmore Capital to expand into UK and China
UNITED STATES - Fillmore Capital Partners is looking at expanding its investment operations into the United Kingdom and China for the first time.
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Pennsylvania State signs to $1bn Mexico fund
UNITED STATES - Pennsylvania State Employees Retirement System is thinking of making a commitment to a $1bn (€681.3m) Latin America residential fund being launched by Pramerica Real Estate Investors.
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Illinois Teachers widens separate account plans
UNITED STATES - Teachers Retirement System of the State of Illinois is planning a shift in its separate accounts real estate programme when it makes its next manager search.
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Alternative investments to carry more weight - ING
UK - Alternatives sectors are likely to register more on the agenda as UK pension funds seek to gain more exposure to real estate assets, according to ING Real Estate Investment Management.
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UK property delivers negative return
UK - Real estate delivered a negative return of 1.1% in Q3, according to the IPD UK Quarterly Index – the first in its history – but real estate still outperformed property equities, which had a negative return of –10.3% for the three months to September.
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LACERA trades property for commingled fund
UNITED STATES - Los Angeles County Employees Retirement Association has sold a shopping centre in Los Angeles and traded it for an investment into a commingled fund with the same real estate manager.
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US pension funds rest sleeping capital in hotels
UNITED STATES - Pension funds are still eyeing hotel properties as a good investment, as San Diego is the latest to shift additional assets into the sector and Principal has made its first purchase for investors.
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CalSTRS sets up retail JV
UNITED STATES - California State Teachers Retirement System has established a new joint venture with Urban Retail Properties Company to invest in retail properties.
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US pension funds make play for value-added apartments
UNITED STATES - Pension funds in the United States are moving some capital into investing in value-added apartments, as renter demand for flats is believed to be on the upswing.
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Land is the new property, say planners
UK - Greenbelt and brownfield land earmarked for development is rapidly emerging as a sub-asset class in an otherwise overvalued real estate market.
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Macro growth boosts Nordic retail
NORDICS - Pension funds have an irrational attachment to office real estate when they should be looking to outperforming retail, according to fund manager Cordea Savills.
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CalPERS places fresh $600m in real estate
UNITED STATES - California Public Employees Retirement System has placed $600m (€424.5m) into a combination of commingled funds, co-investments and separate accounts for international and opportunistic strategies.
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UK, Spanish banks in sale-and-leaseback deals
UK/SPAIN - Two banks involved in the acquisition of ABN Amro are selling off most of their remaining property assets in a series of sale-and-leaseback deals.
