Latest Europe News – Page 444
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New Jersey returns to real estate after two-year hiatus
GLOBAL – The New Jersey Division of Investment has made its first investment in real estate since June of 2008 with a $100m (€74.4m) allocation to the Lubert-Adler Real Estate Fund VI-B.
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German institutional investors seeking stability in core, core-plus
GERMANY – The majority of German institutional investors are employing a core or core-plus investment style for their indirect real estate portfolios and increasing risk management for those investments, according to a survey by kommalpha.
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PKA acquires €79m office, retail project in Copenhagen
DENMARK – Denmark's PKA has bought an office and retail construction project in the country's capital for DKK588m (€79m), with provisional leases already secured for around a quarter of units.
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APG joint venture in €1bn Olympic retail venture
GLOBAL – A joint venture between Dutch pension fund manager APG and the Canada Pension Plan Investment Board (CPPIB) has acquired retail real estate worth £870.5m (€1bn) on the East London 2012 Olympics site.
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Pension funds mop up Finnish property sale
EUROPE – Finnish pension funds Ilmarinen and Varma have mopped up shares in partly state-owned property firm Sponda following the sale by state investment firm Solidium Oy of shares worth €176m.
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ATP Real Estate calls for manager 'early-warning' system
EUROPE – At a panel discussion at this year's INREV CFO/COO conference in Copenhagen, speakers discussed how to balance the need for managers to communicate with investors at a time when they were also being asked to charge less for their services.
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UK investors to target Asia Pacific, says Aviva Investors
GLOBAL – Most UK investors are looking to increase their exposure to Asia Pacific real estate markets in the next three years, according to a survey conducted by Aviva Investors.
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Real estate remains sluggish compared with other asset classes - IPE survey
GLOBAL – The assets of the top 100 real estate investment managers fell by 4.1% – or some €44bn – to just over €1trn as at 31 December 2009 compared with a year earlier, according to the latest IP Real Estate investment managers survey, which will appear in the next ...
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Liquidity specialist Madison to set up shop in London
Madison International Realty, the US-based investment manager that specialises in injecting capital into existing real estate investments, is establishing an office in London and has hired former Lehman Brothers professional Sean Kelly-Rand.
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ÆRIUM targets France for first opportunistic strategy
FRANCE – ÆRIUM is seeking to raise €50-60m in third-party equity to invest in prime retail real estate opportunities in France.
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Apollo takes over Citi's global real estate funds platform
GLOBAL – Apollo Global Real Estate Management (AGRE) has completed its acquisition of City Property Investors (CPI), the real estate investment management group of Citigroup investment bank.
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UK real estate values to fall in 2011, offset by income returns, says Invista
UK – The recovery in capital values in the UK real estate market slowed to a crawl in October and is expected to see a reversal in fortunes over 2011.
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Solvency II will lead 75% of European insurers to revise property strategies
EUROPE – Close to three-quarters of European insurance companies will revise their real estate commitments as a result of incoming Solvency II regulations, according to data providers Preqin.
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Investors flock to DIC Asset's German office fund
GERMANY – DIC Asset has secured more than three-quarters of the €117m capital raising target for its inaugural special investment fund.
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Germany's BVK sells Paris office after 10 years of ownership
EUROPE – German pension fund Bayerische Versorgungskammer (BVK) has sold a Paris office building that it has owned for 10 years.
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VastNed Retail builds up Turkish portfolio to €90m
TURKEY – Pan-European retail property fund VastNed Retail has acquired its seventh prime high street shop in the heart of Istanbul, taking its total investment in Turkey to €90m.
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Capital Symonds launches real estate advisory, management arm
UK – Capita Symonds, a subsidiary of outsourcing giant Capita, is merging its former construction project management business with the recently acquired NB Real Estate to create a global "end-to-end" property advisory and asset management offering.
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Deutsche Bank's RREEF buys industrial portfolio in US Pacific Northwest
GLOBAL – RREEF, the real estate investment management business of Deutsche Bank's Asset Management division, has acquired the 940,654 square foot Kent Valley Industrial Portfolio in Kent and Tukwila, Washington.
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Ontario pension funds take over UK's high-speed rail network
UK – The UK government has sold the high-speed rail network connecting London to the Channel Tunnel to two Canadian pension funds for £2.1bn (€2.43bn).
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Pradera begins raising capital for UK retail park 'club fund'
UK – Pradera UK has secured £75m (€85.6m) from a European pension fund to invest in UK retail parks and is hoping to raise a further £175m from several other investors currently undertaking due diligence.
