Latest Real Estate News – Page 787
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CPP acquires Euro logistics
CANADA - The C$120bn (€83.5bn) Canada Pension Plan Investment Board has invested €400m in European distribution via a fund set up by US logistics firm ProLogis.
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UK property investors divest €8bn
UK - Institutional investors continued the exodus out of the UK domestic market in the first half of 2007, and became net sellers with divestments worth €8.7bn.
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Low returns fail to deter core pension fund investors
UNITED STATES – Some US pension funds are still willing to invest a portion of their capital in core real estate despite returns being at an all-time low, according to consultants Townsend Group.
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Ohio PERS to sell $1bn in real estate
UNITED STATES – Strong interest in real estate acquisitions has promoted Ohio Public Employees Retirement System to spend the remainder of 2007 working on the sale of $1bn (€741.2m) in real estate assets.
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CalPERS to rest capital in global hotels
UNITED STATES – California Public Employees Retirement System is planning to tap into the tourism trade next year with the development of a global hotel investment platform.
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Protego taps Almquist to head Nordic growth
SWEDEN - Protego Real Estate Investors has revealed it is expanding into the Nordic market with the appointment of Lars Almquist to head its new Stockholm office.
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Schroder hires ABP’s Bingen
EUROPE - Former ABP portfolio manager Rob Bingen will join Schroder Property in October as head of its €2.2bn European property multi-manager operation.
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CalPERS considers major real estate emigration
UNITED STATES – The California Public Employees Retirement System is thinking of expanding overseas and moving its international real estate allocation from its current 20% level to a 50% weighting.
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Morley set for European growth
EUROPE – Morley is looking to boost its business in Europe further with 'more people on the ground' and a potential eastward expansion of its property business.
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Neste scheme may invest abroad
FINLAND - The Finnish Neste Oil pension fund said it is considering investing outside its domestic property market as it looks towards completion of three new buildings in Keilaniemi, Espoo, to house its sponsor.
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Brussels yields remaining deals
BELGIUM - ING Real Estate has entered the Brussels office market with the €22m acquisition of two recently refurbished and fully-let prime office buildings.
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'Strategic' greenfields tap into residential potential
UK – Pension funds seeking slightly higher returns on real estate portfolios are being encouraged to turn their attention to ‘strategic land’ investments in greenfield developments.
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Oregon PERF to increase real estate presence
UNITED STATES - Oregon Public Employees Retirement Fund has moved its targeted allocation for real estate from 8% to 11%, giving the pension fund an extra $1.8bn (€1.3bn) of new capital to invest.
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More US pension fund capital heads for global REITs
UNITED STATES - Massachusetts Pension Reserves Investment Management Board and Wisconsin State Investment Board have become the latest pension funds in the United States to plan a global REIT strategy.
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Illinois Teachers schools overseas growth
UNITED STATES - Teachers’ Retirement System of the State of Illinois is close to reaching its international real estate allocation as the fund has now approved a further three investments totaling $250m (€184m) into commingled funds.
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Morgan Stanley buys a place in assisted homes
UK - Asset manager Morgan Stanley is moving into the UK senior living space through a joint venture worth $1.1bn with established real estate services firm Sunrise Senior Living. This is the first such assisted living market deal in the UK a
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PREI sets up life science real estate venture
REAL ESTATE - Pramerica Real Estate Investors has formed a joint venture with BioMed Realty Trust to invest in life science properties across the United States. The first transaction for the relationship involves three assets that are located in Cam...
