Latest Real Estate News – Page 834
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Investor alignment could solve 'diversity' problems
GLOBAL - The common practice of having diverse investor bases in real estate funds poses significant challenges for pension funds’ due diligence, delegates heard at IPE Real Estate’s Investor Forum in Amsterdam last week.
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BPF Bouw alters real estate strategy
NETHERLANDS – BPF Bouw, the €24.2bn pension fund for the Dutch building industry, plans to increase the size of its global indirect real estate portfolio but in doing so will aim for a greater weighting to European markets and core investments with little or no leverage.
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IPD unveils its first US property index
GLOBAL - IPD, the provider of real estate performance analysis and benchmarking, had added US coverage to its range of country coverage with the launch of its first annual commercial real estate index and quarterly indicator for the United States.
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US recovery to be a slow haul - ING
UNITED STATES - ING Clarion Partners has predicted there will be no quick recovery of the US real estate markets.
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Texas Employees signs real estate consultant
UNITED STATES - Texas Employees Retirement System has selected RV Kuhns & Associates as its first ever real estate consultant.
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BP pension fund shops for real estate
UK - The £20.3bn (€23.1bn) pension fund for BP has bought an out-of-town retail park in the UK and an office building in London, and plans to invest a further £100-150m in its domestic real estate market before the end of the year.
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Progress unwinds domestic property
NETHERLANDS - Progress, the Dutch pension fund of food giant Unilever, has begun to divest its directly-held domestic real estate portfolio through a sale of 30 residential assets in the city of Nijmegen to a private investor.
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UK property sees resurgence of interest
UK – Henderson Global Investors is the latest in a succession of managers to launch or close funds in the last two weeks targeting UK real estate.
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SanFran CC to spend in real estate
UNITED STATES - San Francisco City and County Employees’ Retirement System is planning to invest capital in public REITs and the non-core sector of its real estate portfolio over the next year.
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USS keeps shopping for UK real estate
UK - The £28bn (€31.7bn) Universities Superannuation Scheme has bought large retail and industrial assets in the UK and plans to make more acquisitions in the near future as it looks to rebuild its domestic portfolio.
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German investors to increase local exposure
GERMANY - More than one-third of institutional investors active in the German real estate markets intend to increase their exposure to the region this year, according to German investment group Estavis.
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F&C Reit sees opportunity in distress
GLOBAL - F&C REIT Asset Management has launched its first fund, an opportunistic institutional vehicle targeting distressed situations in the UK and with an internal rate of return (IRR) of more than 20%.
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Do your ‘debt’ due diligence - Partners Group (amended)
GLOBAL - Debt is the new investment buzzword but a warning has been sounded about the critical importance of performing thorough due diligence on real estate debt products.
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Illinois Municipal moves MS assets
UNITED STATES - Illinois Municipal Retirement Fund has become one of the first pension funds to transfer a separate account from Morgan Stanley Real Estate to another manager.
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AEW widens its logistical holdings
EUROPE - AEW Europe has made a number of logistics investments across Europe for two of its closed-ended funds.
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Texas Teachers to revisit core strategy
UNITED STATES - Teacher Retirement System of Texas is planning to invest approximately $500m (€368.2m) in core strategy real estate over the next 12 months.
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Central & Eastern Europe stayed positive - IPD
CEE - Total returns for central and eastern Europe (CEE) real estate dropped to 0.5% for 2008 from 14.2% for the previous 12 months, according to International Property Databank (IPD).
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Slowing yield compression may hint at improving sentiment - JLL
EUROPE – The weighted average European price office yield moved out 20 basis points from 5.8% at the end of 2008 to 6%, a much smaller increase than the 50bps movement between Q3 and Q4 2008, according to Jones Lang LaSalle’s (JLL) Q1 2009 European Office Yields Report.
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Rockwood Capital hits fundraising target
UNITED STATES - Rockwood Capital has closed the money raising on its Rockwood Capital Real Estate Partners Fund VIII just shy of its target, at $964m (€720.6m).
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Gellatly leaves BlackRock for new base
EUROPE – John Gellatly has left BlackRock as head of real estate fund of funds to join Aviva Investors’ global multi-manager team in Europe.
