Latest Real Estate News – Page 783
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Oslo property market is ‘the new Helsinki’
NORWAY – Europe is good but Norway is better, according to a property market report published by Close, the independent merchant bank.
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PCA 'conflict of interest' forces CalSTRS' shop
UNITED STATES - California State Teachers Retirement System is planning to hire a new real estate consultant for the first time in 10 years.
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US pension fund capital heads back to core
UNITED STATES - Some pension fund capital in the United States is flowing against the tide and being reallocated to a core investment strategy.
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UCAL moves to separate accounts
UNITED STATES - The University of California (UCAL) has moved into the separate account real estate space for the first time signing a relationship with Cornerstone Real Estate Advisers.
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Shorenstein buys into mezzanine gap
UNITED STATES - Shorenstein Properties plans to increase its appetite for mezzanine debt deals on office buildings over the next couple of months, to take advantage of the dislocation in the debt markets.
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LVAM in drive to grow institutional business
UK – LV Asset Management (LVAM), the asset management arm of UK’s largest friendly society, has announced ambitious plans to expand its fund management arm with 12 new funds and the development of a multi-manager capability, targeted at institutional and retail investors.
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UK government to invest €2.4bn in infrastructure
UK - The UK government is to plough £1.7bn (€2.4bn) into boosting infrastructure for planned ‘new’ towns and growth areas over the next three years.
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Bär taps into thirst for infrastructure
SWITZERLAND - A fund jointly launched by Macquarie and Julius Bär, the private bank, is targeting European pension fund investors with a global infrastructure fund focused primarily on energy and utilities.
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Credit crunch creates PE buyers’ market
GLOBAL - Excess capital accumulated by US real estate private equity funds in the first half of 2007 will help them mop up in a downward-valued market, according to an Ernst & Young report on real estate private equity funds.
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Strategies switched amid lower Romanian returns
ROMANIA - Charlemagne Capital’s €110.5m sale of three Romanian property assets last week indicates a significant shift in that market, according to investors.
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ING real estate wins £100m Welsh mandate
UK – The GBP1.3bn (€1.9bn) Rhondda Cynon Taf council pension fund has awarded a £100m UK property mandate, with possible exposure to other European markets, to ING Real Estate Investment Management.
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State of Alaska branches out into timber
UNITED STATES - Alaska Retirement Management Board has expanded into timberland for the first time with a $200m (€142.5m) allocation.
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CPP Investment Board buys Denver office space
UNITED STATES - CPP Investment Board has made its first acquisition in the Denver office market through a joint venture with Callahan Capital Partners.
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Select-service hotels hit Warburg Pincus’ radar
United States - Warburg Pincus Real Estate Fund I and Triyar Hospitality have formed a joint venture to develop and acquire ‘select-service’ hotels.
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Mass PRIM abandons small cap REITs
UNITED STATES – Massachusetts’ Pension Reserves Investment Management Board has decided to drop a small cap investment mandate for its publicly-traded real estate securities program in the United States.
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Texas Teachers to approve $800m in real estate
UNITED STATES- Teacher Retirement System of Texas is in the process of approving $800m ($568m euros) in new real estate commingled fund investments.
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BT pension fund to sell £240m portfolio
UK – Hermes Real Estate has placed 10 property vehicles on the market, in the hope of generating £240m (€346m) for the BT Pension Scheme.
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Folksam PFs in pilot pooling venture
SWEDEN - Swedish insurance group Folksam has set up the first bespoke property pooling structure designed for separate pension funds within the same group.
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SBB sells 9,800m2 to fund pensions
SWITZERLAND - The Swiss federal railways SBB has sold another one of its real estate holdings under its funding promise to the SBB pension fund.
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Hotels lose clients but grow revenues
UK - Despite flattening occupancy rates, UK hotel revenues will increase by 6.2% in 2007—8, according to a report published by PricewaterhouseCoopers.
