Latest Investors News – Page 619
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European capital shifts to Bavaria
GERMANY - Fidelity is shifting its pan-European real estate operations to Munich, in an expression of confidence in the recovering German property market.
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Pension funds are "comfortable" with global investment
GLOBAL - Pension funds are increasingly comfortable investing in overseas markets they see as subject to increasingly global standards of transparency, according to Standard Life Investments.
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Norway pension fund allocates 5% to real estate
NORWAY – Europe’s largest pension fund, the NOK2136bn (€267bn)Norwegian Government Pension Fund – Global, has said it will switch 5%of its asset to real estate, while moving more money into emerging markets.
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Europe wins lion’s share of real estate inflows
EUROPE - Europe was the major target of global capital flows for real estate transactions in 2007, capturing 40% of the total $339bn (€215bn) in real estate transactions last year, according to data released by Real Capital Analytics (RCA).
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US REITs see turnaround
US – Real Estate Investment Trusts may be staging an investment comeback and breaking out of the trough they were stuck in for the last three quarters of 2007, suggest figures released by the National Association of Real Estate Investment Trusts (NAREIT).
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Financial crisis will affect 2008 result – IVG
GERMANY – While real estate asset manager IVG and some of its competitors reported record earnings for 2007, the companies there will fear the financial crisis will have a major impact on this year's results.
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New Jersey commits to high return fund
UNITED STATES - New Jersey Division of Investment has approved a $100m (€64.1m) commitment to the Lehman Brothers Real Estate Partners III commingled fund.
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San Diego City expands its international focus
UNITED STATES - San Diego City Employees’ Retirement System is growing its international real estate investment program by investing in a commingled fund and moving its domestic REIT program to a global stage.
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Ohio Police & Fire invest $162m in real estate
UNITED STATES - Ohio Police & Fire pension fund has approved a real estate strategy to invest $162m (€103.8m) in the asset class for 2008.
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PREA delegates call the real estate recession
GLOBAL - It will take around 18 months for capital markets in commercial real estate to return to normal – that was the consensus among the more than 700 delegates attending the PREA Spring Conference in Boston last week.
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BP pension fund signs central London JV
UK – BP’s UK pension fund has launched a joint venture that will give the £13.8bn (€19bn) scheme access to central London assets as part of a broader drive to increase its exposure to property.
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Logistics remains strong, except in UK
EUROPE - Logistics is still outperforming other European sectors despite a 12% fall in direct investment last year compared with 2006.
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Asia gains local real estate education
ASIA - The Asian Public Real Estate Association (APREA), which represents the listed sector, has launched a certification programme for regional real estate investors.
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Aberdeen pulls out of Swedish retail
SWEDEN - Aberdeen has radically reduced its exposure to Swedish retail, just weeks after the 2007 Swedish Annual Property Index claimed it as the year’s top-performing sector.
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Latecomer Swede enters Finnish market
FINLAND - The German fund management arm of Swedish bank SEB has acquired the first Finnish asset for its ImmoInvest open-ended fund, in a €23m deal for an airport-city office block outside Helsinki.
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Finnish fund’s property cap to stay
FINLAND - Investments in the €12bn Finnish state pension fund VER will continue to be driven mainly by “traditional risk limitations”, despite the growth in recent years of its real estate and infrastructure portfolios.
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RREEF enters German retail market
GERMANY - A RREEF-dominated consortium is to acquire 164 German properties housing Karstadt department stores, via a 49% stake in Canadian fund manager Highstreet.
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Protego seizes off-market opportunity to shop
FINLAND - Protego Real Estate Investors has acquired Helsinki’s Kamppi shopping centre for €452.5m in an off-market deal.
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Pramerica takes its next Latam leap
UNITED STATES - Pramerica Real Estate Investors has closed its latest Latin American commingled fund and completed its first transaction in Chile.
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Chicago Teachers buys Asian exposure
UNITED STATES - Public School Teachers’ Pension and Retirement Fund of Chicago has extended its international real estate exposure by agreeing to allocate $40m (€25.7m) to the Merrill Lynch Asia real estate opportunity fund.
