Latest IPE Real Assets news – Page 1164
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Polish bourse challenges AIM for property firms
POLAND - Warsaw Stock Exchange intends to challenge London’s Alternative Investment Market (AIM) as the destination for property firm flotations. Its claim follows the announcement last week from XXI Investments, a Ukrainian property devel...
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IVG to launch €2bn German REIT in 2008
GERMANY – IVG Immobilien, Germany’s biggest quoted real estate firm, has announced it will next year launch a German real estate investment trust (G-REIT) with around €2bn in commercial property assets. The German government lega...
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PenSam’s Weischer quits to give advice
DENMARK - Investment manager Michael Weischer has quit PenSam, the Danish public-sector pension scheme, to advise other pension funds on real estate indirect investment. The €6.3bn fund has yet to select a successor when Weischer leaves at t...
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EC appoints experts for open-ended fund inquiry
EUROPE - The European Commission has appointed an expert panel to advise on regulation of open-ended real estate funds. The panel, which will meet until January 2008, comprises members including representatives of Crédit Agricole Asset Manage...
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Yields drive pension funds to car parks
EUROPE - A Luxembourg-domiciled fund is promising to deliver pension funds above-average yields with a fund set up to invest €600—700m in Central European car parks. The Société d’Investissement à Capital Risque (S...
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RREEF gains space in Norwegian joint venture
NORWAY - RREEF is expanding its presence further into the Nordic region through a joint venture purchase of its first Oslo-based office block. The real estate subsidiary of Deutsche Bank has signed a joint venture with Norwegian-based real estate ...
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Moody’s: investors are diversifying into timber
GLOBAL - Long-term cashflow, a need for diversification and growth prospects in a fragmented industry are pushing investors towards timber REITs, according to a report published by credit ratings agency Moody’s. The report claims this ?...
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Vopak eyes growth as Aberdeen picks up mandate
NETHERLANDS - The €660m pension fund of tank terminal operator Vopak has awarded a €15m property investment mandate to Aberdeen Asset Management. Funds will be invested in European real estate through Aberdeen’s fund of funds, Ce...
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JER raises €800m for Europe
UNITED STATES – JER Partners has raised €809m for its called JER Europe Fund III - the largest European investment fund so far for the company. JER accumulated €128m in 1998 through its Europe Fund I and six years later raised a ...
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Prupim enters Swedish property market
SWEDEN - Real estate investment manager Prupim has entered the Swedish property market by acquiring a €41m landmark office building in Kungsholmen. The company purchased the building – Paradiset 14 – on behalf of the M&G Euro...
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Dutch schemes consider rejuvenating industrial estates
NETHERLANDS - Dutch pension funds are showing an interest in investing in the rejuvenation of run-down industrial estates in the Netherlands. "Providing that our criteria are met, we are willing to look at solid proposals from both councils ...
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China property growth 'sustainable’
CHINA - A 40% year-on-year increase in the number of sale agreements in the Hong Kong property market last year suggests an upward trend will continue in 2007, according to a report published by Vigers. The Hong Kong-based property consultants fou...
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Alaska to invest in infrastructure
UNITED STATES- The Alaska Permanent Fund Corporation making its first move towards investing in infrastructure and plans to initially invest up to $800m ($601.9m euros) in the concept as a separate asset class. The $40bn pension fund agreed at it...
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CalSTRS gets closer to its real estate allocation
UNITED STATES- The California State Teachers Retirement System is inching its ways towards its targeted real estate allocation of 11% as the pension fund invested $560m (€420m) in the first quarter of this year. CalSTRS has now invested 9...
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Ennis Knupp to increase real estate presence
UNITED STATES - Ennis Knupp & Associates is seeking on expanding its expertise in the real estate asset class as the firm intends to hire four new people over coming months to increase its exposure to the asset class. Scott Brown, principal an...
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Pension funds see Heitman hit double the target
UNITED STATES - Heitman has attracted pension fund institutional investors to the tune of $800m ($599.6m euros) for its commingled fund known as Heitman Value Partners II - double the size of its original $400m Heitman Value Partners offering. One...
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IPO gives comfort to jittery Spanish market
SPAIN - An oversubscribed share issue last week from Spanish property firm Realia suggests a partial recovery in market sentiment from last month’s jitters over asset sale irregularities at another property group. Of the shares on offer, 52%...
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Vector’s bid to become hotel REIT thwarted
UK – Investors have derailed plans by UK hotel group Vector Hospitality to become Europe’s first hotel real estate investment trust (REIT). Vector was forced to abandon a planned flotation on the London Stock Exchange (LSE) last Thursd...
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Mercer calls for earlier selection input
EUROPE - Pension funds seeking real estate fund managers need to get involved in selection process discussions at an earlier stage because the bespoke nature of mandates is becoming more complicated, according to consultants Mercer. Greg Wright, p...
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French & UK pension funds invest €125m in Nordics
NORDIC REGION - Aberdeen has raised €125m in the fourth closing of Aberdeen’s €370m pan-Nordic real estate SICAV as UK, French and Scandinavian pension funds see Nordic economies outstripping those in Western Europe. Ubbe Strihag...
