Latest Real Estate News – Page 779
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Manchester pension fund to rebuild office eyesore as beauty
UK – The £7.39bn (€8.48bn) Greater Manchester Pension Fund, the largest local authority scheme in the UK, has been given the green light for a major office redevelopment project in Manchester city centre.
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German property faces fresh freeze
GERMANY – Open-ended real estate funds in Germany have suffered another bout of redemption freezes following writedowns in property valuations.
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Mass PRIM to invest $1bn in 2010
UNITED STATES - Massachusetts Pension Reserves Investment Management Board has approved its 2010 annual real estate investment plan and could allocate as much as $1bn (€729.7m) to the asset class over the next 12 months.
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COP says US real estate could bring TARP downturn
US – Real estate loan failures at a large number of small and medium-sized US banks could destabilise the country’s financial system and derail its economy recovery, according to the government body set up to monitor the unwinding of toxic assets.
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LGP is latest to drive inflation-linking real estate
UK – Legal & General Property (LGP) has become the latest fund manager to offer defined benefit pension funds access to real estate providing inflation-linked income.
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Ohio PERS eyes apartments and mortgages
UNITED STATES – The Ohio Public Employees Retirement System has issued Requests for Information (RFI) concerning separate account managers working in the residential apartments and first mortgage loan portfolios space.
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Pension funds pile into UK property
UK – Pension funds and other institutional investors poured more capital into the UK real estate market in the fourth quarter of 2009 than during any other three-month period on record, according to the Association of Real Estate Funds (AREF).
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UK pension funds to tap smaller property deals
UK – A number of large UK corporate pension funds will take advantage of a neglected segment of the real estate market through a new fund managed by First Property Asset Management (FPAM), a subsidiary of First Property Group.
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IPD update forces questions about UK recovery
UK – The latest results from Investment Property Databank’s (IPD) UK quarterly property index have prompted fund managers to question the sustainability of the market’s recovery.
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Property bounce aides Belgian pension funds
BELGIUM – A study of 90 active pension funds by consultancy Mercer suggests Belgian pension funds returned a median of 18.5% on investments by the end of 2009, thanks to a rally in equities and real estate.
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Clavis Walden paifs the way with new structure
UK – Clavis Walden has become the first fund manager to launch a property authorised investment fund (PAIF), an open-ended fund structure offering pension funds the same UK tax benefits as a real estate investment trust (REIT).
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South Korea becomes latest to buy Gatwick stake
GLOBAL - The National Pension Service (NPS) of South Korea has agreed to buy a 12% stake in London’s Gatwick airport.
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SURS takes conservative approach to real estate
UNITED STATE - State Universities Retirement System of Illinois (SURS) is planning to apply conservative growth to its 6% targeted allocation to real estate.
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Nebraska nears investment in secondary market (amended)
UNITED STATES - Nebraska Investment Council is expected to put money in the secondary real estate market next month on behalf of its pension fund, and may make a $25m (€17.9m) investment in a Landmark Partners fund.
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UK real estate recovery looking shaky - experts
UK – Economic forecasters and property market analysts have warned the recovery in UK commercial real estate market could be unsustainable.
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Europe heading for 'slow' real estate recovery
EUROPE – European real estate faces a “long, slow haul” to recovery, according to the latest report from the Urban Land Institute (ULI) and PricewaterhouseCoopers (PwC).
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PensionDanmark widens its real estate ground
DENMARK – Danish pension provider PensionDanmark has acquired commercial real estate let to other pension funds in Denmark, and plans to increase its property exposure significantly over the next three years.
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Pension funds called on to invest in infrastructure
UK – The UK government has called on pension funds to consider investing in infrastructure, as officials admit hundreds billions of pounds of investments is needed over the next 10 years.
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New Jersey to tap structured credit...while it can
UNITED STATES – The New Jersey Division of Investment has established a $300m (€212m) separate account with Och-Ziff Capital Management to invest in structured credit investment products.
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Kansas PERS puts $150m into preferred REIT securities
UNITED STATES- Kansas Public Employees Retirement System has allocated $150m (€106m) to US preferred REIT securities through an existing REIT manager, Brookfield Redding.
