Latest Europe News – Page 487
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Shareholders vote to keep F&C trust open
UK – Investors in the F&C Commercial Property Trust have voted overwhelming for the continuation of the company, despite an earlier drop in its performance.
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US pension fund capital flows to Europe
UNITED STATES - A significant amount of pension fund capital in the United States is still moving towards Europe as California State Teachers Retirement System and Los Angeles County Employees Retirement Association made new investments.
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New Jersey tries on separates
UNITED STATES - The New Jersey Division of Investment is shifting into the use of real estate separate accounts and has hired General Motors Investment Management for a $150m (€106.4m) equity mandate.
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Ex-army ‘new town’ set for sale
UK - The UK government is to sell off decommissioned land earmarked for the development of a new town in southeast England.
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INREV data 'will make fees more transparent'
EUROPE - New guidelines have been published which are expected to increase the transparency of management fees for private property funds.
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IPD reveals global property outshone Europe
GLOBAL - Global real estate performed well last year, according to IPD figures published, delivering returns only slightly down on their 2005 peak.
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UK hotel buy bucks prime trend
UK - Deutsche Bank real estate subsidiary RREEF has bucked a trend towards international prime hotel acquisition by acquiring the Four Pillars Hotel Group, which has five mid-sector assets in Oxfordshire and Gloucestershire.
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Berkshire trades direct property for fund
UK - The £1.4bn (€2.1bn) Berkshire pension fund has made a £15m investment into BlackRock's UK property fund.
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Sustainability to split real estate pricing - DTZ
EUROPE – Real estate manager DTZ is predicting Europe will eventually develop into a two-tier property market which prices less energy-efficient real estate at a discount.
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F&C property trust to decide whether to quit
UK - Negative investor sentiment towards UK property has driven the F&C Commercial Property trust to convene an extraordinary general meeting (EGM) to decide on its own future.
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REITs ‘waiting for long-term investors’
UK - Critics of the poor performance of UK REITs since their launch in January are failing to understand they’re a long-term investment, according to Dave Butler, programme coordinator at UK-based campaigning group REITA.
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Investors turn to active management
EUROPE - Investors will increasingly opt for active management as “indiscriminate yield compression” in Europe ends, according to Aberdeen Property Investors.
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Irish pension fund sells retail stores
IRELAND – The Irish Property Unit Trust is selling some of its retail investments in Cork and Limerick, as well as an office block in Dublin, to finance its stake in a new Cork retail property project.
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McGuire swaps Edinburgh for London
UK – AXA Real Estate Investment Managers has persuaded Standard Life Investment’s Martin McGuire to leave his property remit at the life office and head up one of its core-plus propositions.
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Pension funds give euro focus to Goodman
EUROPE – Asset management firm Goodman Property Investors has picked up a series of new European real estate mandates from pension funds in recent months, the latest of which is from GlaxoSmithKline (GSK).
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Futures present for listed property
FRANCE - Launch of two European futures contracts on the Paris derivatives market will give investors “cost-effective, simple and efficient” exposure to listed property, according to Liffe, Euronext’s London-based derivatives business.
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Finland remains 'Nordic property capital'
FINLAND - Finnish real estate still offers pension funds credible property investment opportunities despite the small size of the market, according to Aberdeen fund manager Pertti Verhanen.
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Lothian pension tenders its real estate
UK – Lothian pension fund is reviewing its real estate investment manager and searching for a firm to handle the fund’s asset allocation.
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ECP to extend retail centres
EUROPE - The €2.2bn investor EuroCommercial Properties is increasingly focusing on extending its existing centres to improve its competitive position in a pressured property markets.
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US Colony seeks infrastructure with Challenger
UNITED STATES - Australian-based Challenger Financial Services Group Limited has formed a strategic relationship with Los Angeles-based Colony Capital to invest in real estate and infrastructure in the US, Europe and Asia.
