Latest Real Estate News – Page 844
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ProLogis steps up to support European Properties
US – ProLogis, the international logistics developer, has stepped in to help ProLogis European Properties (PEPR) by buying a 20% interest in the ProLogis European Properties Fund II (PEPF II).
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DTZ goes for share-raising or bust
GLOBAL – DTZ is planning to raise up to £55m (€59.2m) of equity through new shares in a bid to help the company survive the economic downturn and avoid going into administration.
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Pension funds could snap up UK airports
UK – Pension funds could be in the running to buy Gatwick, Stansted and Edinburgh airports as the Competition Commission has announced the British Airport Authority (BAA) must sell to generate greater competition and improve its service standards across UK airports.
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CPPIB buys into Turkish retail
CANADA - The Canada Pension Plan Investment Board (CPPIB) has invested €250m of equity in a Turkish retail fund.
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NAREIM fears loss of carried interest CGT
US – The National Association of Real Estate Investment Managers (NAREIM) fears the new US presidential administration will make changes to the way carried interest is taxed and make real estate a less attractive investment and deterring entrepreneurs from taking risks.
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Real estate consultant folds Spanish offices
SPAIN – King Sturge España, the Spanish subsidiary of British property consultants, King Sturge, has filed for administration this week.
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Investment options widened by CalPERS
UNITED STATES - California Public Employees Retirement System has approved a temporary new allocation range for real estate, and selected consultants for both timberland and infrastructure investing.
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Iowa PERS withholds new capital
UNITED STATES - Iowa Public Employees Retirement System has decided not to allocate any new capital for real estate investing into the 2009 calendar year.
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US investors are feeling the pressure - PwC
US – Investor sentiment around North American commercial real estate has plummeted following further weakening of the industry, according to PricewaterhouseCoopers.
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Pru relocates its real estate divisions
US - Prudential Financial is integrating its Real Estate and Relocation businesses as Prudential Real Estate and Relocation Services Inc, in a bid to streamline the firm’s business and operational services.
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Icade REIT considers residential sale
FRANCE - Icade, a subsidiary of Caisse des Dépôts and one of the largest Real Estate Investment Trusts (REIT) in France, is considering selling its entire housing unit.
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European property to bottom out in 2010
EUROPE - The continental European real estate market will reach its lowest level In 2010 but will then encourage fund managers to raise equity again to tap property bargain property, according to research by the Scottish Widows Investment Partnership (SWIP).
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MPL taps buy-to-let repossessions
UK – Managing Partners Limited's British Property Opportunities Fund is expecting to return over 10% in its first year by snapping up bargain repossessed UK properties from banks at 30%-discounted prices.
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Protego concludes merger into Threadneedle PUT
UK – Protego Real Estate Investors and Threadneedle Asset Management have completed the merger of their respective UK property funds, the Protego UK Property Fund and the Threadneedle Property Unit Trust.
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Venice mulls pension money for local infrastructure
ITALY – The local government of the Veneto region in the North-East of Italy is considering using the resources of its local pension funds to finance regional infrastructure projects.
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AP1 seeks real estate advice
SWEDEN - Första AP-Fonden (First Swedish National Pension Fund AP1) has announced it is looking to appoint investment managers as part of its new international real estate strategy.
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Morgan Stanley exits separate accounts
UNITED STATES - Morgan Stanley Real Estate is pulling out of the separate account business.
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UK commercial sees investment halve
UK – Jones Lang LaSalle has predicted direct investment in UK commercial real estate will have dropped by approximately 55% year-on-year by the end of 2008, to stand at around £21bn (€24bn).
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Chicago Teachers to redeem commingled real estate
UNITED STATES - Public School Teachers’ Pension and Retirement Fund of Chicago is issuing redemption queues on all of its open-ended commingled funds.
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CBRE reveals new face in Poland
POLAND – CB Richard Ellis Group Inc. (CBRE) has appointed Charles Wardroper as the managing director of its business in Poland.
