Latest Real Estate News – Page 732
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Dutch pensions funds reduce direct property by €3.5bn
NETHERLANDS - The combined direct property investment of Dutch pension funds has decreased significantly, but schemes are still interested in holding office buildings, according to the Dutch regulator De Nederlandsche Bank.
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ICL pension plan moves into real estate
UK – The ICL Common Investment Fund, the investment vehicle for the ICL pension fund, made its first allocation to real estate in 2009, and invested £33m (€37.3m) through ING Real Estate Investment Management.
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Ohio PERS extends another $600m to core real estate
UNITED STATES - Ohio Public Employees Retirement System has approved new commitments totaling $600m (€412.4m) into the core open-ended JP Morgan Strategic Property and the UBS Trumbull Property funds.
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UK pension funds to invest in real estate recovery
UK – Aviva Investors has raised £200m (€226m) from a number of UK local authority and corporate pension schemes for a new fund designed to capitalise on the market recovery in the UK but without using gearing.
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Alecta outsources French real estate management
SWEDEN – The asset management arm of Swedish occupational pensions mutual Alecta is to transfer the management of its real estate portfolio in France.
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M&G checks real estate assets into Premier Inn
UK – M&G Investments has acquired five Premier Inn hotels for its Secured Property Income Fund, which offers inflation-linked income to institutional investors, including UK pension schemes.
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CPPIB shops for San Diego retail
UNITED STATES – The Canada Pension Plan Investment Board (CPPIB) has completed its first ever joint venture with Donahue Schriber on a retail property in San Diego.
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New arrival to pursue European deals for OMERS
GLOBAL – Oxford Properties, the real estate division of Canadian pension fund OMERS, has appointed Simon Marriott to lead its European investment programme as it gears up to make its first acquisitions in the UK since 2007.
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Pension funds consider shift back into property
EUROPE – European and North American pension funds are planning to increase investments in real estate over the coming year and the majority of schemes are reviewing external managers, an asset allocation survey has suggested.
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Asia predicted to drive real estate recovery
ASIA – Emerging Asian economies are likely to spearhead the next phase in the recovery of the global real estate markets, according to Prupim, the real estate division of UK life assurer Prudential.
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Strathclyde pension fund buys BREEAM green office
UK – The Strathclyde Pension Fund has purchased a sustainable office development in Glasgow, which is seen as the first building in the city to achieve a BREEAM (BRE Environment Assessment Method) ‘excellent’ status.
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Hermes swoops on property for BT
UK – Hermes Real Estate has acquired a series of commercial properties, known as the ‘Hawk’ portfolio, on behalf of the BT Pension Fund.
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NPS buys rooms with a view of Sydney Harbour
GLOBAL – South Korea’s National Pension Service (NPS) has bought an office building in Sydney for A$685m (€440m) as it continues to snap up prime assets across the world’s top cities.
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San Mateo County to stay with open-ended fund
UNITED STATES - San Mateo County Employees Retirement Association has rescinded a $70m (€48.5m) capital redemption order for the Invesco Core Real Estate Fund as the value of its overall investment portfolio has improved significantly over the past couple of years and officials no longer feel the need to withdraw ...
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Ohio Police & Fire places blind faith in LaSalle
UNITED STATES - Ohio Police & Fire Pension Fund is hoping to tap real estate opportunities as the market improves and made a $60m (€41.6m) allocation to the LaSalle US Property blind pool investment fund.
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CPPIB joint venture pursues forced retail sale
CANADA/UK - The Canada Pension Plan Investment Board (CPPIB) has entered into a joint venture with UK property company Hammerson to take advantage of the forced sale of a prime UK retail asset.
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Varma agrees deal for Kesko retail stores
FINLAND – Varma Mutual Pension Insurance Company has entered into a sale and leaseback arrangement with The Kesko Group for 13 its stores, including one owned by the retailer’s pension fund.
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USS beefs up its real estate strategy
UK – Universities Superannuation Scheme (USS) has poached Alex Turner from Hermes Real Estate to manage its UK office portfolio, just as other changes are being made to improve its performance.
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HSBC Pension Fund sells UK real estate holding
UK – The HSBC Pension Fund has sold Wilmslow Park in central Manchester to Legal & General (L&G) Property’s Managed Fund.
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UK’s Merchant Navy Pension rebalances real estate
UK – The Merchant Navy Officers Pension Fund (MNOPF) has sought to rebalance its UK real estate portfolio and sold three commercial real estate assets in the UK, for almost a third more than recent valuations.
