Latest Investors News – Page 614
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LACERA extends its hotel funds holding
UNITED STATES - Los Angeles County Employees Retirement Association has further diversified of its assets into hotel investments, and approved a $100m (€64.5m) commitment to the Starwood Capital Global Hospitality Fund II.
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Managers launch green standard for old assets
EUROPE - A consortium containing four of Europe’s largest property investors has developed what it claims is the first standard to measure the sustainability of existing buildings.
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Japanese returns head for zero
JAPAN - Slowing capital growth is accelerating Japanese property’s downward growth trend, according to IPD, as new figures show there was a 5% fall in return to 11% between January and February.
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Care and cure ‘perfect for pension funds’
EUROPE - ‘Care and cure’ property assets are gaining appeal among pension funds because they offer a hedge against the broader economic downturn, according to ING Real Estate fund manager Wietse de Vries.
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Russian infrastructure spending to soar
RUSSIA –The Russian government has decided to increase infrastructure spending to over $1trn (€650bn) over the next 10-15 years, creating attractive investment opportunities in the Russian infrastructure market, suggests Pictet, the Swiss private bank.
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CalPERS-backed real estate entity files Chapter 11
UNITED STATES - LandSource Communities Development LLC, a US land investment entity backed by California Public Employees Retirement System, the largest pension fund in the United States, has filed for Chapter 11 bankruptcy protection.
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Thomas Properties and UBS sign office contract
UNITED STATES - Thomas Properties Group has created a new office building acquisitions joint venture with UBS Wealth Management to purchase assets in selected markets across the United States.
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Tricon Capital creates new investment platform
UNITED STATES - Tricon Capital Group has created a new investment platform for the recapitalisation of single-family communities.
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J-REITs are bowed but still borrowing
JAPAN - J-REITs are better positioned than other Japanese property firms to weather lender caution, according to a report published by Moody's which maintains a stable outlook for 20 of 22 rated J-REITs.
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Retail booms despite ‘weak’ Russian reputation
RUSSIA - Consumer spending power is driving resurgent growth in Russian retail real estate, according to Swedish fund manager East Capital following the launch of a retail property fund.
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Teesside offers £1.75m direct property mandate
UK - Middlesbrough Borough Council has issued a tender for a manager to take responsibility for the direct property portfolio of its local government pension scheme.
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APG reshuffles Asian real estate team
NETHERLANDS – Dutch APG Investments, the wholly-owned division of ABP created to manage the assets and administration of the pension fund, has reshuffled its Asian real estate team.
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State of Wisconsin makes hotel reservations
UNITED STATES - Wisconsin State Investment Board is planning to invest into hotels for the first time.
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Ohio PERS sees value of European capital
UNITED STATES - Ohio Public Employees Retirement System (PERS) has made $75m (€48.3m) commitments to Carlyle Europe Realty Partners III and Blackstone Real Estate Partners Europe Fund III.
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LACERA moves $50m into pan-Asia fund
UNITED STATES - Los Angeles County Employees Retirement Association had added to its international real estate exposure by committing $50m (€32.2m) to the ING Real Estate Asia Value Fund.
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Ohio Police & Fire commits to high return fund
UNITED STATES - Ohio Police & Fire Pension Fund is continuing its high return commingled fund investing strategy by making a $25m (€16.2m) commitment to the Walton Street Real Estate Fund VI.
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Investors pull back from emerging markets
GLOBAL - Investors are pulling back from emerging markets as the credit crunch dents both global transaction volumes and occupancy.
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Vietnam gains ground in global rent rise
VIETNAM - Ho Chi Minh City has seen the world’s fastest office rent rises in the 12 months to March, with occupancy costs rising 94%, according to CBRE’s Global Market Rents survey.
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Asian retail is 'sound'
ASIA - ING Real Estate has described the Asian retail market as “fundamentally sound” and announced the acquisition of 80% stakes in two Korean hypermarket developments, in a joint venture with an unnamed local insurance firm.
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Germans abandon bricks for unlisted funds
GERMANY - Cross-border investment in German real estate is pushing German pension fund investors to abandon bricks and mortar for unlisted funds, according to INREV.
