Latest Europe News – Page 446
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First Property wraps up USS mandate, returns to Poland
POLAND – First Property Group has returned to its previous business model of launching successive Polish opportunity funds, having concluded its mandate with the Universities Superannuation Scheme (USS).
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German institutions swapping bonds for real estate, says Greenwich Associates
GERMANY – German institutional investors, in their search for stable returns without increasing risk, are turning away from European fixed income to real estate, while faith in external managers and consultants remains low, according to a survey by Greenwich Associates.
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Aberdeen, ING REIM see capital inflows for core property
EUROPE – European institutional investors have committed close to €200m of capital to a number of core real estate funds managed by Aberdeen Asset Management and ING Real Estate Investment Management, respectively.
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ABP, PGGM invest Dutch telecommunications networks
NETHERLANDS – The €220bn Dutch civil service scheme ABP and PGGM, the asset manager for the €91bn healthcare scheme PFZW, have committed to large investments in telecommunications infrastructure in the Netherlands.
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Global investors flocking to German real estate market
GERMANY – The German commercial real estate market has seen in influx of international investors in 2010, accounting for 40% of all transactions in the first half of the year, according to Savills.
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Invesco Real Estate backs hotels with second European fund
EUROPE – Invesco Real Estate has identified a €168m seed portfolio of hotels to help raise capital for its new pan-European hotel fund.
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Scottish minister calls on pension funds to invest in affordable housing
GLOBAL – Pension funds have been called upon to invest as much as £1bn (€1.1bn) into affordable housing in Scotland in an effort to meet the growing demand in the sector.
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INREV prepares for lobbying; Solvency II a 'key priority'
EUROPE – INREV will be taking on the function of lobbying Brussels on behalf of the non-listed real estate industry.
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Institutional capital to desert German open-ended funds, says CBRE
GERMANY – Incoming regulations in Germany will see institutional capital leave open-ended funds and be reinvested in Spezialfonds, according to a report by CB Richard Ellis (CBRE).
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Hermes seeks to increase liquidity for BT Pension Fund
UK – Hermes Real Estate is to sell the BT Pension Scheme's interest in the Bluewater Shopping Centre as part of a wider rebalancing of the portfolio away from "less liquid" indirect and joint venture holdings in the UK.
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Denmark's ATP returns to real estate market
DENMARK – Denmark's largest pension fund ATP has made its first direct real estate acquisition in two years, acquiring a high-profile office block in central Copenhagen.
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PensionDanmark makes 'significant' expansion in real estate
DENMARK – Labour market fund PensionDanmark is expanding its portfolio of domestic real estate with a new DKK500mn (€67m) investment in Århus.
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Germany's IntReal makes board appointments
GERMANY – The Warburg-Henderson subsidiary IntReal KAG has named two new board members to cover the areas of risk management and client services.
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L&G annuities arm gets first real estate exposure
UK – Legal & General Pensions (LGPL) is to invest in UK real estate for the first time on behalf of its £23bn (€26.6bn) annuity business.
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BNP Paribas Real Estate takes over AEW Europe subsidiaries
EUROPE – BNP Paribas Real Estate Property Management has acquired the central European real estate management business of AEW Europe.
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Carlyle combines buyout, real estate capital to fund B&B Hotel purchase
EUROPE – The Carlyle Group has acquired B&B Hotel Group, operator of 223 hotels across France, Germany and France, with equity from one of its private equity buyout funds and one if its real estate vehicles.
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French commercial real estate returns to positive territory, says IPD
FRANCE – Commercial real estate in France has emerged from a two-year slump to record a six-month 1.6% capital appreciation, according to Investment Property Databank (IPD).
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AMF makes largest Swedish transaction in over two years
SWEDEN – Swedish pension provider AMF and German open fund manager DEKA Immobilien Investment have executed the largest single real estate deal in the city of Stockholm for more than two years.
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Germany sets two-year holding period for open real estate funds
GERMANY – The German government has passed new regulations for open real estate funds (OIFs) that will include a minimum two-year holding period.
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Quarterly INREV index shows first positive returns since 2007
EUROPE – Performance of European non-listed real estate funds returned to positive territory this year, the first time since 2007, according to inaugural quarterly index results for the sector.
