Latest IPE Real Assets news – Page 1171
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Portuguese retail bonanza to run and run
REAL ESTATE - Portuguese property returned 12% in 2006 – above bonds (0.2%) but significantly below equities (29.9%), according to IPD data released last week. Retail delivered the strongest performance at 15.9%, driven largely by domestic ...
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CalPERS places $285m into Mexico and Brazil partnerships
REAL ESTATE - The California Public Employees Retirement System(CalPERS) has agreed to invest $285m (€213.5m) into real estate partnerships investing in Mexican and Brazilian real estate. Both of the partnerships will continue an on going re...
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Blue Sky’s Satumalaij to join Bouwfonds
REAL ESTATE - Blue Sky Group real estate fund manager Raymond Satumalaij is to join fund manager Bouwfonds in May. In this new role – both for Satumalaij and for Bouwfonds – Satumalaij will be responsible for structuring and managing ...
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Bundestag passes G-REITs bill
REAL ESTATE – Germany’s lower house of parliament, the Bundestag, has approved draft law legalising German real estate investments trusts (G-REITs) retroactively from 1 January.
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Corio undertakes massive Paris office revelopment
REAL ESTATE – Property investor and manager Corio will redevelop and enlarge its Paris’ office building Le Newton into a high quality complex of 42,000 m2, it has announced. The €120m project will lead to an almost fourfold incre...
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Noble raises $310m for new hotel fund
REAL ESTATE - Noble Investment Group has raised $310m (€233.1m) of equity for its hotel investment fund called Noble Hospitality Fund. This commingled fund will be the first time that the company has raised a discretionary investment fund f...
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Clerical Medical makes moves into Europe
REAL ESTATE - UK insurer Clerical Medical has hired fund manager Invista to spearhead its entry into continental European real estate. The pan-European portfolio will invest in sectors, such as commercial, with a core income profile. A spokes...
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JER starts to buy US properties for next commingled fund
REAL ESTATE – US manager JER Partners has started the process of buying properties for its next commingled fund, JER Partners IV. Among the first properties for the fund was the acquisition of the Fairview Park Marriott in Falls Church, Va., f...
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ING in €100m Stuttgart retail deal
REAL ESTATE - ING Real Estate Development has sold its Stuttgart retail centre Canstatter Carre to property fund Encore+ in a €100m transaction. The complex – developed by ING - comprises of 37,000 metre2 of lettable area (including 15...
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Harvard Endowment invests in BayNorth’s new $473m fund
REAL ESTATE – US-based BayNorth Capital LLC has completed raising capital for its latest investment fund, BayNorth Realty Fund VII, with a total of $472.5m (€356m) contributed. One of the more significant investors in the fund was the...
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Norway follows Denmark with record returns
REAL ESTATE - The Norwegian property market returned 17.6% last year – its highest return since the index launched in 2000 – but the property market still performed below equities, which returned 32.4%. But the figures, published last...
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Michael Koch found guilty of corruption in Frankfurt court
REAL ESTATE – Michael Koch, the central figure in the 2004 bribery scandal that engulfed German real estate fund provider Deka, was found guilty of corruption by a Frankfurt court but will not go to jail. Instead, the Frankfurt court sentenc...
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Aberdeen settles REO split cap lawsuit
REAL ESTATE - Fund management firm Aberdeen is to pay Real Estate Opportunities (REO) £30m (€44m) to settle a lawsuit brought by the split capital trust. Aberdeen and Swiss bank UBS, which REO also sued, advised REO on a 2001 listing i...
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Washington State approves over $800m in real estate
REAL ESTATE- The Washington State Investment Board has taken action to place more than $800m (€601.4m) into new real estate investments. The pension fund made these investment decisions at its board meeting recently. One decion was a follow...
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LA Fire & Police is looking hard at Stratford fund
REAL ESTATE - Los Angeles Fire & Police Pension System is looking into making a commitment to a new commingled fund, Stratford Land Fund III. But the pension fund will not be making a final decision until its gets a report on the commingled...
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LACERA makes first medical office investment
REAL ESTATE - The Los Angeles County Employees Retirement Association has placed its first ever investment in medical office buildings. This was accomplished with commitment of up to $25m (€19m) into the LaSalle Medical Office Fund II.
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CalPERS undertakes a major real estate review
REAL ESTATE - The California Public Employees Retirement System will be undertaking an overall review of its real estate portfolio and strategy over the next few months.
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Vesteda in Netherlands mulls cross-border operations
REAL ESTATE - The €4.5bn residential Dutch property investor Vesteda is considering starting cross-border operations, it has announced. "The Netherlands has a closed housing market, in which the government decides the prices in almost...
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San Joaquin County opts for value-add-opportunity funds
REAL ESTATE – The San Joaquin County Employees Retirement Association has approved an investment plan for 2007 that will be placing $60m (€45.5m) to $100m into a mixture of either value-added or opportunistic commingled fund commitments....
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Sicilian launch for public building fund
REAL ESTATE - Pension funds will be offered 10% of a fund set up this month to invest in Sicilian public buildings. Fondo Immobiliare Pubblico Regione Siciliana (FIPRS) – a joint venture between the region of Sicily, Deutsche Bank real esta...
