Latest IPE Real Assets news – Page 1176
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Angelo Gordon raises $160m for net-lease fund
REAL ESTATE - Angelo, Gordon & Co recently finished the money raising portion of its latest commingled fund, AG Net Lease Realty Fund LP. The total amount of equity in the fund is $160m(€124m). The alternative investment manager attract...
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UK commercial outperforms equities – for now, says IPD
REAL ESTATE - Property outperformed both UK equities and bonds in 2006, returning 17.9% against 16.8% for UK equities and –0.1% for bonds, according to figures just published by IPD. However, at 3.7% Q4 delivered a return slightly down from...
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Pennsylvania Public School to place up to $525m in real estate
REAL ESTATE - The Pennsylvania Public School Employees Retirement System has approved investments in two commingled funds that could total $525m(€406m). The pension fund took this action at its recent board meeting Pennsylvania Public Schoo...
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Corio to invest €85m in European retail centres
REAL ESTATE - Property investor and manager Corio has entered into agreements on the extension and redevelopment of retail centres in France and Holland, for a total amount of over €85m, it has announced. In an €18.3m transaction, Cori...
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UBS in JV with Alder to exploit southeast US opportunities
REAL ESTATE - UBS Global Asset Management and the Alder Group have formed a joint venture to invest in up to $300m(€232m) worth of assets in the southeast in the US. The debt to equity ratio for the transactions are 60%-40%. The venture wil...
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Oklahoma pension fund to invest in real estate for first time
REAL ESTATE - The Oklahoma Police Pension and Retirement System has decided to invest in real estate for the first time with a new commingled fund manager search. The pension fund has Judy Collins at its chief financial officer. She said: "...
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Rodamco in four-for-one share split move
REAL ESTATE - Property investor and manager Rodamco Europe proposes to split its shares to increase its liquidity and accessibility. At its next annual general meeting, the company will ask shareholders to agree to a split in the ratio of 4 new sh...
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Swiss pension fund sells 23 properties to Avadis and mandates Arlington
REAL ESTATE – BLPK, a CHF5bn (€3.1bn) Swiss pension fund, has sold 23 properties worth CHF221m to asset manager Avadis to diversify its real estate portfolio. BLPK said that as part of its deal with Avadis, it had obtained a shareholdi...
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Institutions could miss out on slice of €1bn ‘gherkin’
REAL ESTATE - Reinsurance firm Swiss Re has sold its landmark London headquarters in St Mary Axe to – known to Londoners as The Gherkin – to German property firm IVG for £630m (€950m). IVG acquired the building for one of i...
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M&S plugs pension deficit with real estate
REAL ESTATE - UK retailer Marks & Spencer is to plug a £704m (€1.07bn) hole in its pension fund via a property partnership that will see the retailer sell and lease back its £1.1bn property portfolio.
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US retirement fund to invest in more international funds
REAL ESTATE - San Bernardino County Employees Retirement Association will be looking to invest more capital into commingled real estate funds that pursue an international real estate strategy. Don Pierce, who is the investment officer for the pens...
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Prupim purchases €123m Scottish centre for M&G
REAL ESTATE - Prudential Property Investments (Prupim) has purchased the Wellgate Shopping Centre in Dundee from HBG Properties, it announced. The €123m transaction was on behalf of the M&G Property Portfolio, it said. The retail cent…
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UK ports report by MPs slams foreign investors
REAL ESTATE – A UK parliamentary committee has urged government caution over attempts by foreign investors to acquire British ports. The recommendation would have blocked Borealis, a subsidiary of Canadian pension fund Ontario Municipal Emp...
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New Jersey fund to invest $100m with Blackstone
REAL ESTATE - The New Jersey Division of Investment has approved a $100m(€77m) commitment into the Blackstone Real Estate Partners VI. The pension fund approved this investment at its board meeting on January 18. The pension fund will put t...
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ING facilitates €260m credit for London City office
REAL ESTATE - ING Real Estate Finance has completed a €260m credit facility for the acquisition of 88 Wood Street, London EC2 by a co-investment partnership, it said. The transaction involved the largest asset purchase by ING in the UK so f...
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German corporates to sell real estate to create REITs
REAL ESTATE – Over a quarter (27%) of quoted German corporates had concrete plans to sell their property holdings to create real estate investment trusts (REITs), according to a study by German real estate fund firm DEGI. Legalisation of Ger...
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Mars pension fund sells off Nottingham office
REAL ESTATE - Mars Pension Trustees have sold off a four-story Nottingham office block to fund managers Warner Estate Holdings and Morley Fund Management for €23.2m. A spokesman for the UK pension fund declined to comment on the reasons for...
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Ohio Police & Fire issues RFP for independent fiduciary
REAL ESTATE - The Ohio Police & Fire Pension Fund has issued a request for proposal (RFP) for an independent fiduciary to evaluate a portion of its real estate portfolio. The responses are due to the pension fund on or before 3:00 PM eastern tim...
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Nieuwe Steen mulls cooperation with Israeli player
REAL ESTATE - Dutch real estate development company Nieuwe Steen Investments (NSI) has entered exploratory talks on cooperation with Israel-based property developer Habas HZ Investments, it announced. At Habas’ request, NSI is investigating ...
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Macquarie opens in Frankfurt and Paris to boost continental real estate
REAL ESTATE – The real estate fund arm of Australian investment bank Macquarie has this month opened offices in Frankfurt and Paris to step up its investments on the European continent. "We see great potential for both office and logis...
