Latest Real Estate News – Page 784
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Unite transfers UK student assets
UK - Student accommodation developer Unite has sold assets in Glasgow, Leeds and Bristol to its Unite UK student accommodation fund for £81.8m (€118m) in cash.
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Austrian prices ‘good for two more years’
AUSTRIA - Recovering office across European markets still offers yields as a sector no longer available in retail and industrial, according to property firm Matrix.
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Stunted supply boosts European retail
EUROPE - European pension funds are on a regional shopping spree motivated by a limited supply of new assets in low-risk markets, according to Aberdeen fund manager Nico Tates.
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Ohio Police & Fire sells separates
UNITED STATES - Ohio Police & Fire Pension Fund has voted to approve the transfer of seven separate account assets and move them into a commingled fund.
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Pennsylvania spends €200m in Europe
UNITED STATES - Pennsylvania Public School Employees’ Retirement System has increased its exposure to European real estate by committing a total of €200m to two commingled funds.
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Indiana PERF searches for core and REIT managers
UNITED STATES - The Indiana Public Employees Retirement Fund is now searching for real estate managers for core and REIT strategies through new RFPs.
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CalSTRS expands JV to $500m
UNITED STATES - California State Teachers Retirement System has expanded its real estate joint venture relationship with Pacific Coast Capital Partners by investing a total of $500m (€353m) into two ventures.
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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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Land of Rising Sun is still Asian favourite
JAPAN - Japan continues to dominate core Asian real estate despite the emergence of investible real estate markets in more volatile regional economies.
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CalPERS feeds $500m to Dragon
UNITED STATES - CalPERS is adding a further $500m to its existing $3bn invested in Asia real estate, via a local fund focused on mature regional markets and China, while the same amount will be placed in commingled funds.
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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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US pension fund capital flows to Europe
UNITED STATES - A significant amount of pension fund capital in the United States is still moving towards Europe as California State Teachers Retirement System and Los Angeles County Employees Retirement Association made new investments.
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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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Ex-army ‘new town’ set for sale
UK - The UK government is to sell off decommissioned land earmarked for the development of a new town in southeast England.
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INREV data 'will make fees more transparent'
EUROPE - New guidelines have been published which are expected to increase the transparency of management fees for private property funds.
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IPD reveals global property outshone Europe
GLOBAL - Global real estate performed well last year, according to IPD figures published, delivering returns only slightly down on their 2005 peak.
