Latest Office News – Page 172
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San Diego City targets non-US real estate
UNITED STATES - San Diego City Employees Retirement System has approved its first ever targeted allocation for non-United States real estate investments.
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Pension funds "ready for Russian real estate"
RUSSIA - Pension funds – at least Nordic ones – are ready to invest in Russian real estate, having overcome earlier reluctance concerning the complexity of the market, according to Ole Dall-Hansen, chief executive of Aberdeen Property Investors Eastern Europe.
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Shareholders vote to keep F&C trust open
UK – Investors in the F&C Commercial Property Trust have voted overwhelming for the continuation of the company, despite an earlier drop in its performance.
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Pension funds show distressed debt interest
UNITED STATES – US pension funds are considering placing real estate capital into debt strategies on the back of recent market turbulence.
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Thomas Properties goes green
UNITED STATES - Thomas Properties Group has formed its first green investment fund as pension funds are now turning their attentions to sustainable real estate investments.
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New Jersey tries on separates
UNITED STATES - The New Jersey Division of Investment is shifting into the use of real estate separate accounts and has hired General Motors Investment Management for a $150m (€106.4m) equity mandate.
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RREEF expects US cap rates to climb
UNITED STATES – RREEF has predicted cap rates on the purchase of existing US properties will rise by 50 basis points by the end of 2007.
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US pension funds buy opportunity
UNITED STATES - Pension funds in the United States are investing more capital into commingled funds with opportunistic investment strategies.
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Irish pension fund sells retail stores
IRELAND – The Irish Property Unit Trust is selling some of its retail investments in Cork and Limerick, as well as an office block in Dublin, to finance its stake in a new Cork retail property project.
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Pension funds give euro focus to Goodman
EUROPE – Asset management firm Goodman Property Investors has picked up a series of new European real estate mandates from pension funds in recent months, the latest of which is from GlaxoSmithKline (GSK).
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Finland remains 'Nordic property capital'
FINLAND - Finnish real estate still offers pension funds credible property investment opportunities despite the small size of the market, according to Aberdeen fund manager Pertti Verhanen.
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North Dakota State shifts core capital to value-added
UNITED STATES - North Dakota State Investment Board has decided to move a portion of its capital originally invested in core real estate and move it into the value-added real estate bucket.
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CalPERS and MacFarlane bet big on the capitol
UNITED STATES - California Public Employees Retirement System and MacFarlane Partners have formed a venture which could build a real estate portfolio worth $10bn (€7.3bn) in the greater Washington DC region.
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Closed-end real estate feels UK pricing pressure
UK – Investment trust managers predict UK investors will increasingly turn to overseas real estate to seek diversification in a weakening domestic market.
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EU institutions drive Brussels boost
BELGIUM - Brussels is the new Berlin, International Real Estate (IRE) indicated when it announced a sharper focus on value-added opportunities in Brussels real estate.
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Corio to divest office and industrial portfolios
EUROPE - The €6bn property investment company Corio has decided to explore the divestment of a major part of its offices and industrial portfolios, and to further focus on its retail activities.
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ABP to sell office fund KFN
NETHERLANDS - The €211bn civil service scheme ABP is considering selling at least part of its offices investment fund KFN, in order to further diversify its overall portfolio.
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Unibail-Rodamco prepares post-merger management
NETHERLANDS - Unibail-Rodamco is almost ready to announce its top 50 management structure as its integration efforts are now on track, the €23.9bn property investor has said.
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Milan buys flags future for Euro-office
ITALY - Segro, the serviced office firm, has acquired a Milan business park for €84.5m from fund manager Europa Capital Partners – a beachhead in a market segment known for the difficulty of cross-border investment.
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Low returns fail to deter core pension fund investors
UNITED STATES – Some US pension funds are still willing to invest a portion of their capital in core real estate despite returns being at an all-time low, according to consultants Townsend Group.
