Latest Real Estate News – Page 723
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Slovenia's PRVA makes first foray into real estate
SLOVENIA – The €185m PRVA second-pillar fund has bought a property in Ljubljana, making its first foray into real estate.
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Redington, M&G talk up UK social housing debt opportunity
UK – Pension funds in the UK are being encouraged to consider financing social housing as an alternative to inflation-linked bonds.
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Investors back L&G’s tried and tested industrial fund
UK – Legal & General Property (LGP) has raised new equity for its Industrial Property Investment fund (IPIF) following interest from existing investors to increase their exposure.
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CalPERS acquires 12.7% stake in London Gatwick Airport
GLOBAL – The California Public Employees' Retirement System (CalPERS) has acquired a 12.7% stake in London Gatwick Airport from Global Infrastructure Partners (GIP).
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Czech investors and foreign institutions go separate ways
CZECH REPUBLIC – Property transaction volumes in the Czech Republic have picked up in the first quarter of 2010 relative to the same period last year, as cross border and local investors targeted different ends of the market, according to DTZ.
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No risk of major crash in Chinese property market, says Henderson
GLOBAL – The Chinese real estate market may be surging, but it is at no risk of crashing and burning, according to Henderson Global Investors.
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Swiss pension funds to invest in India and Japan this year
GLOBAL – AFIAA, the global property investor owned by 18 Swiss pension funds, is aiming to make real estate investments in Japan and India before the end of 2010.
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Texas Municipal selects ORG Portfolio as first-ever consultant
UNITED STATES – The Texas Municipal Retirement System has chosen ORG Portfolio Management as its first-ever real estate consultant.
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CalSTRS makes €81m allocation to Thomas Properties Group
UNITED STATES – The California State Teachers Retirement System (CalSTRS) has awarded a $100m (€81.3m) allocation to Thomas Properties Group.
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Barings: China will tread carefully on real estate market
CHINA – The Chinese government will continue to tread cautiously over policy measures aimed at cooling the real estate market amid the near-certain postponement of a property tax originally scheduled for introduction this month, according to Barings.
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Hermes Real Estate acquires core London office
UK – Hermes Real Estate, the property fund manager owned by the £35.3bn (€42.5bn) BT pension scheme, has acquired an office asset on the outskirts of London for £58m.
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Pension funds to buy 'problem' infrastructure in second wave of privatisation
UK – Pension fund and private equity investors could mop up UK infrastructure assets in a second major wave of privatisation, according to a report by the Adam Smith Institute, a free-market think tank.
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Whitbread wannabes in UK underestimate complexity, says Punter Southall
UK – UK pension funds considering property to plug their pension gaps are looking at overly complex structures to do it, according to research by consultancy Punter Southall on the recent Whitbread property partnership.
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Emerging markets to lead revival of luxury retail sector, says Colliers
GLOBAL – Rents in the luxury retail sector are set to increase in the near term after a two-year hiatus, according to Colliers International.
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German investors to ramp up indirect real estate exposure
GERMANY – German institutional investors are expected to invest on average more than €300m in real estate during 2010 and more than €26bn in total over the next three years, a large proportion of which will be directed to indirect vehicles, according to two separate studies.
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USS continues to blaze UK acquisition trail
UK – Universities Superannuation Scheme (USS) has continued its 18-month UK real estate spending spree with the purchase of an office building in London's West End for £42m (€50.8m).
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Ohio Police and Fire makes $100m commitment to core commingled fund
US – The Ohio Police and Fire Pension fund has approved a $100m (€84m) allocation to the UBS Trumbull Property fund.
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Mass PRIM fires RREEF as separate account manager
US – The Massachusetts Pension Reserves Investment Management Board has terminated RREEF as one of its separate account managers.
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Interest rate swaps blocking UK disposal pipeline, Savills says
UK – The prohibitive cost of unwinding interest rate swaps on real estate debt is preventing financial institutions from offloading a growing volume of distressed UK assets, according to Savills.
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US and Ireland set for spike in distressed sales
GLOBAL – Ireland and the US are expected to see a significant increase in distressed real estate sales in the short term, according to research from the Royal Institute of Chartered Surveyors (RICS).