Latest Real Estate News – Page 836
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Norway-Global faces delay on real estate move
NORWAY – The Government Pension Fund – Global has warned market conditions and the need for new rules means it is unlikely to reach its 5% allocation to real estate for "several years".
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Kesko sign sale-and-leaseback deal with pension fund
FINLAND – The Kesko Pension Fund has bought four retail properties for €50m from the Finnish trading company Kesko Group.
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Pensions investors enticed by Catalyst opportunities
EUROPE – Catalyst Capital LLP, a European investment and asset management firm, has secured the support of major institutional investors for its €228.5m pan-European property fund.
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OMERS tracks long-term gains with railway top-up
CANADA – Ontario Municipal Employees Retirement System (OMERS) has increased its stake in a rail infrastructure project in Detroit, to become the majority owner.
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CPP to invest in real estate through bonds issuance
CANADA - The Canada Pension Plan Investment (CPPIB) Board is planning to issue up to C$5bn (€3bn) in fixed income paper over the next two years to help the pension fund invest in real estate and infrastructure.
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Dallas Police & Fire strengthen infrastructure
US –The Dallas Police and Fire Pension System has invested in a $4bn (€3.01bn) state of the art highway infrastructure system in Dallas, bolstering domestic investments.
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Real estate position to double for Jacksonville PF
US – The Jacksonville Police and Fire pension fund plans to double its real estate allocation once it gets the all-clear from the state legislator.
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New York PF hedges its bets on real estate
US – The New York State Common Retirement Fund (CRF) announced on Friday it closed $238.2m (€178.8m) of real estate hedge fund transactions last month.
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Asia more willing to embrace sustainability - study
ASIA PACIFIC – Corporate real estate professionals in Asia Pacific are more eager to continue investing in sustainability than their global peers, according to a survey by Jones Lang LaSalle (JLL) and CoreNet Global.
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Hypo RE falls under state control
GERMANY – The German government has taken an 8.7% stake in Hypo Real Estate in its first step to taking full control and bringing stability to the Group.
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West Midlands makes supermarket sweep
UK – The West Midlands Pension Fund has purchased a £36.5m (€39.6m) supermarket property in Birmingham from Land Securities, to strengthen its position for the future.
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San Diego City plans tactical moves in real estate
UNITED STATES - San Diego City Employees’ Retirement System is planning to take advantage of tactical investment opportunities in the second half of this year in certain property types.
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TriCon comes up short on capital raising
UNITED STATES - TriCon Capital was only able to attract $350m (€257.6m) for its latest commingled fund, TriCon IX – just over 40% shy of its $600m target.
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Reita claims residential Reits are a good buy
EUROPE - Institutional investors should consider investing in residential property as an asset class and push for residential Real Estate Investment Trusts (REITs), according to Reita’s panel of property investment experts.
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Merseyside reviews property adviser
UK - Merseyside Pension Fund has announced it is looking for a strategic property investment adviser for its £262m (€278m) direct UK property portfolio.
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Currency volatility could encourage local investing - CBRE
UK – UK institutional property investors are considering making more domestic investments, according to CB Richard Ellis, as continental European holdings are becoming increasingly overweight thanks to wild currency fluctuations.
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CalPERS sees demand for member mortgages triple
US – California Public Employees’ Retirement System’s (CalPERS’) Member Home Loan Programme has tripled in size over the last year thanks to its conservative mortgage practices, according to CalPERS’ Investment Committee.
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Norway sees property slip into the red
NORWAY –Norwegian commercial property returns fell into negative territory in 2008 after delivering 15% plus returns for three consecutive years, according to the IPD Norway Annual Property Index.
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Franklin Templeton raises $380m for Asia
ASIA – Franklin Templeton Real Estate Advisors has closed its $383m (€280.7m) private equity Asian Real Estate Fund and aims to take advantage of market corrections to buy up bargains.
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LaSalle signs Northern Europe head
EUROPE - LaSalle Investment Management has appointed Insa von Jürgensonn as regional director and head of portfolio management for Northern Europe.
