Latest IPE Real Assets news – Page 1163
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Enpam offloads real estate
ITALY - Enpam, the Italian pension fund for doctors and dentists, has sold a 29-property portfolio for €305m. Pirelli Real Estate acquired the portfolio with holder Global Opportunities Fund II, a fund managed by Deutsche Bank subsidiary RRE...
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Germany ‘still offers best opportunities’
GERMANY - International Real Estate (IRE) has ruled out expansion outside German property despite recent investor jitters over market underperformance. This vote of confidence came as the AIM-listed investment firm posted year-end pre-tax profits ...
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RREEF takes to the road for €1.3bn
EUROPE - RREEF Infrastructure has acquired 50% of German motorway service operator Tank & Rast for a reported €1.3bn. The acquisition, from private equity firm Terra Firma, includes 390 motorway service stations across Germany. John ...
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US real estate investment to slow
UNITED STATES - Mercer Investment Consulting is expecting less pension fund money to enter the US real estate markets this year. According to Real Estate newsletter, the market has matured sufficiently to expect inflows of assets will now slow, sa...
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Rodamco moves into Le Havre docklands
FRANCE - Rodamco Europe has agreed to acquire a large shopping and leisure centre under development in the Le Havre harbour area, the firm has announced. The €10.6bn company said it has signed an agreement with Vinci Immobilier and ING Real ...
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Morgan Stanley fund reaches $8bn height
UNITED STATES - Morgan Stanley Real Estate has raised $8bn (€5.94bn) for its most recently-completed international commingled fund MSREF VI International. – the largest sum ever raised for a single real estate fund. Capital raised was ...
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Germany is ING’s prime office market
GERMANY - ING Real Estate has allocated Germany as the most important market for its European Office Fund, fund manager Leo Weidenaar said. "Since its economy is recovering very fast, Germany offers big opportunities. After entering the Germ...
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Pennsylvania State Employees pursues opportunity
UNITED STATES - Pennsylvania State Employees Retirement System has approved a $50m (€37.1m) commitment into the Rockpoint Real Estate Fund III by recycling its capital. Principal at The Townsend Group, Rob Kochis, has been working with the p...
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Orange County Employees places $116m
UNITED STATES - Orange County Employees Retirement System has approved real estate investments totaling $116m (€86.4m) to be invested in a mixture of public and private real estate. The pension fund approved $75m of capital to be managed by ...
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Cornerstone to market new hotel fund
UNITED STATES - Cornerstone Real Estate Advisers is to begin the marketing process for its next commingled fundraising. The real estate manager is looking at raising around $400m ($297.1m euros) to $600m through the Cornerstone Hotel Income and Eq...
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AMB completes initial capital for European fund
UNITED STATES – European pension funds were key investors in the initial fund-raising period for AMB Europe Fund I commingled fund, according to AMB executives. John Roberts, president of AMB Capital Partners, said around 95% of the capital ...
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Wall of money to stay firm for 2007 - DTZ
EUROPE - A report published by DTZ offers a largely optimistic prognosis for growth in European real estate markets – at least in 2007. The report, entitled Money into property, said a 25% increase in global investment transactions worth $6...
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Ambitious Italian fund targets 20% returns
ITALY - Managers of two funds launched last week claim they can harness scarce Italian real estate assets to generate well-above-average returns for pension fund investors. Cordea Savills’ Italian Opportunities Fund II will target returns o...
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Reed Smith targets Europe with DLA finance hire
UK - Terry Green is leaving London law firm DLA Piper to head up a major push into Europe for rival real estate lawyers Reed Smith Richards Butler. Speaking to IPE Real Estate earlier today, Green confirmed he will be leaving DLA Piper’s rea...
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China real estate AIMs for London listing
UK-CHINA - A former Watson Wyatt pensions adviser is a key member of a team seeking a London stock exchange listing for a Chinese real estate company. Stuart Leckie, former chairman of Watson Wyatt in Asia and founding chairman of the Hong Kong Re...
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Institutional capital still flowing to Latin America - Pramerica
UNITED STATES - Latin America real estate is still seeing strong capital inflows and interest , according to a quarterly research report done by Pramerica Real Estate Investors. Much of that activity is happening in Mexico as the country is attrac...
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CalPERS commits $200m to Asia
UNITED STATES - California Public Employees Retirement System is the latest pension fund to further invest in Asian real estate after approving a $200m (€149.2m) commitment to the Asia Real Estate Securities Opportunity Fund. Jane Delfendahl...
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Los Angeles Fire & Police expands real estate view
UNITED STATES- Los Angeles Fire & Police Pension System is taking a look at three separate real estate buys through a mixture of fund selection and direct investment. The pension fund’s real estate consultant, The Townsend Group, will su...
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Developers Diversified reveals US investment offering
UNITED STATES - Developers Diversified Realty has unveiled a new retail investment fund called DDR Domestic Retail Fund I. A total of $539m (€401.7m) equity is invested in the commingled fund, of which around $430m or 80% of the equity came ...
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Pension funds reject Dutch road plan
NETHERLANDS - Dutch pension funds have dismissed proposals designed to encourage them to finance infrastructure projects. Three political parties – liberals, Christian Democrats and Liberal Democrats – last week jointly proposed the l...
