Latest IPE Real Assets news – Page 1189
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News
Rhode Island fund ditches direct
REAL ESTATE - The Employees’ Retirement System of Rhode Island (ERSRI) last week ditched direct investment in real estate from its $7.3bn portfolio when it sold the four-story former American Express building in Providence for $20m. State tr...
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Workspace announces REIT plan
REAL ESTATE - Workspace, the small business landlord 3.7%-owned by Dutch civil service pension fund ABP, has told investors it would convert to a real estate investment trust (REIT) when new legislation comes in next January. Under the REIT regim...
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CalSTRS to invest $600m in two ventures
REAL ESTATE – The California State Teachers Retirement System has established two joint ventures where it will be investing initially $600m. One of the ventures is being called FirstCal 3, LLC. This is a deal with First Industrial Realty Tr...
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Church of England to sell “greenbelt” site
REAL ESTATE - The Church of England is to sell off “greenbelt” land for the development of a 240-acre business park if a regional development agency approves a proposed regeneration scheme. Inspectors will next month advise on the pro...
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CalPERS backs hotel, urban funds
REAL ESTATE – The California Public Employees Retirement System has recently invested capital into hospitality and urban investment funds. One of the investments was a $200m commitment into the TGP Hospitality Investments IV, L.P. CalPERS e...
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Australian schemes scout European real estate
REAL ESTATE - Australian institutional investors are scouting real estate investment opportunities in Europe because they have significantly outgrown their own domestic market. Queensland Investment Corporation, which manages the Queensland public...
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BT pension fund ups Halladale holding
REAL ESTATE - BriTel Fund Nominees, the trustee body for the British Telecom Pension Fund, last week upped its shareholding in real estate company Halladale to just under 4%. Hamish Galpin of Hermes, which manages the pension fund, said: “W...
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Singapore’s GIC in €300m Munich purchase
REAL ESTATE – The Government of Singapore Investment Corporation’s GIC Real Estate has bought two Munich properties from Hines for more than €300m. Its bought the new completed office properties on Georg-Brauchle-Ring, which are ...
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ESPS terminates €1.48bn real estate brief
UK – The €27bn Electricity Supply Pension Scheme has terminated its £1bn (€1.48bn) real estate mandate with F&C, the asset manager says. The disclosure came as F&C unveiled a pre-tax loss of £21m for the first h...
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Fortress to float German portfolio
REAL ESTATE – US private equity firm Fortress will float part of its €7bn German property portfolio on stock exchanges in October, the firm has announced. Fortress’ German arm also said that for the IPO, it had chosen Goldman Sac...
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Cordea names Germany head
REAL ESTATE - Real estate fund manager Cordea Savills has appointed a German head to launch international funds targeting institutional investors, including burgeoning pension funds. Thomas Guetle joins Cordea’s recently opened Munich offic...
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Single client drives JLL revenue growth
REAL ESTATE - A single $109m (€85.6m) incentive fee paid to Jones Lang LaSalle’s investment management business helped second-quarter group-wide revenues to rise to $510m – a 57% increase over same period last year, according to fig...
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Myners joins Land Securities as chairman
UK – Paul Myners, the former Gartmore chief who wrote an influential report on institutional investment for the government, is to join real estate firm Land Securities as chairman. Myners stepped down as chairman at retailer Marks & Spen...
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Quebec scheme buys into booming London
REAL ESTATE - Canada’s largest pension fund last week paid CA$430m (€298m) for a landmark London office building in an expression of optimism for a market it described as “booming”. Société immobilière Tran...
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ABP in €417m Barcelona hotel deal
REAL ESTATE – Dutch civil service pension fund Stichting Pensioenfonds ABP and partners including an affiliate of the Government of Singapore Investment Corp. have agreed to buy the Hotel Arts Barcelona for €417m. Maryland-based Host H...
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New Jersey commits $350m
REAL ESTATE - The New Jersey State Investment Council has approved investments into four new commingled funds that amounts to $350m of capital. There were two commitments made of $100m into the TA Associates Realty Fund VIII and the Warburg Pincus...
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Rabobank buys Bouwfonds for €845m
REAL ESTATE – As expected, Rabobank has agreed to buy ABN Amro’s real estate development and asset management unit Bouwfonds for €845m. ABN Amro announced the sale in December last year and IPE Real Estate reported that initial i...
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CBRE Netherlands manager sets up own firm (Correct)
REAL ESTATE - Fred Rikken, manager of CB Richard Ellis’s Hoofddorp office in the Netherlands, is leaving to set up his own firm (Corrects to reflect no job losses at CBRE). He will take Siem-Jan Vos and Serge Wuts, both from CBRE’s Glo...
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Oregon in talks on new GID commingled fund
REAL ESTATE - General Investment & Development (GID) is getting prepared to close the money raising portion of its latest commingled fund, Windsor Realty Fund VII. The total amount of capital that would be raised is in the neighborhood of $170m.
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Italy may tax commercial property deals
REAL ESTATE - Real estate firms and leasing companies operating in Italy will lose out under a draft law that removes tax relief on commercial property transactions involving structured finance, according to rating agency Standard & Poor’s....
