Latest Real Estate News – Page 852
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SanFran City and County signs follow-on commitments
UNITED STATES - San Francisco City and County Employees’ Retirement System is extending its relationship with CapMark Financial Group by approving follow-on real estate commitments worth $62.5m (€43.2m).
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Recession fears bring gloom to German real estate
GERMANY - Investors are increasingly reluctant to invest in German real estate as the Europe’s largest economy is slipping into recession, independent European property consultants, King Sturge has warned.
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Emerging markets lift global office sector…for now
GLOBAL - The office market worldwide has continued to show resilience despite the general downturn in the global economy, according to Boston-based global property specialist Colliers International.
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DEGI continues expansion eastwards and at home
GERMANY - Specialist Frankfurt-based property investors, DEGI, has acquired the Marynarska Business Park in Warsaw for €167m, as well as expanding its presence in Frankfurt.
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SEB to cash in on expanding Cologne office market
GERMANY - Frankfurt-based SEB Asset Management (SEB) has further expanded its German property holdings with the purchase of a major office building in Cologne which adds €75m to the group’s existing €132bn assets under management.
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BPF Bouw becomes latest victim to property fraud
NETHERLANDS - The €25bn pension fund for the construction industry BPF Bouw is understood to be the latest victim of the large-scale property fraud which has affected the company pension scheme of electronics giant Philips.
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Sacramento County plays strong hand on real estate
UNITED STATES - Sacramento County Employees Retirement System is now in the process of looking at firms to manage an ex-US public REITs strategy, but has rejected plans from one of its managers to change a fund’s existing strategy.
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Fresno County increases target on real estate and infrastructure
UNITED STATES - Fresno County Employees’ Retirement Association has increased its real estate allocation from 4% to 6% and added an allocation of 2% to infrastructure for the first time.
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CalPERS taps call for debt liquidity
UNITED STATES - California Public Employees Retirement System has made a $200m (€135.4bn) commitment into a US Debt Fund investment run by JER Investors Trust, to take advantage of dislocation in the credit markets.
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Apollo creates AREFIN on new investor demand
UNITED STATES - Apollo Real Estate Advisors has attracted an additional $309m (€210.6m) for its commingled fund, Apollo Real Estate Finance Corp, and placed the new capital raising in a separate holding called AREFIN Co-Investment Corporation.
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Real estate markets continue to struggle
GLOBAL - Global property markets are continuing to slow, according to the latest research by specialist property performance analysis firm, IPD, as the value of properties in the UK, Japan and Australia all showed declines in recent months.
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Student housing firm’s projects to target graduates
UK – London-based specialist property development group Unite is planning to build two student residence blocks worth €68m in London, and expanding its repertoire to try and plug the demand for housing among graduates.
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Heathrow tops expense poll in warehouse focal shift
GLOBAL - London’s Heathrow airport has the most expensive warehouse market in the world, followed by Tokyo, Oslo, Dublin and Singapore, according to Boston-based global real estate firm Colliers International.
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‘Cheesegrater’ put on hold as UK economy falters
UK - British Land has postponed plans to build a gleaming 220m skyscraper in the City of London, as falling demand for office space underlines the downward spiral of the UK economy.
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ING Real Estate caps its property finance (amended)
NETHERLANDS - ING Real Estate is limiting its financing of property investments in the Netherlands in order to spread the risks within the ING Group.
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CalPERS sets new frontiers for markets and infrastructure
UNITED STATES - California Public Employees Retirement System has formulated ranges for investing additional capital in emerging and frontier markets and put unveiled its investment guidelines for investing in infrastructure.
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Pennsylvania Public School invests $775m
UNITED STATES - Pennsylvania Public School Employees Retirement System has approved new real estate commitments totaling $775m (€526.4m) in four commingled funds, including a $400m chunk with Beacon Capital.
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Pramerica venture to invest in Manhattan skyline
UNITED STATES - Pramerica Real Estate Investors has formed a joint venture with L&L Holding Company to invest in New York City office buildings.
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Contra Costa County seeks moves into wider space
UNITED STATES - Contra Costa County Employees Retirement System is looking to make some big moves into the opportunity fund sector of real estate.
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San Francisco City and County turn to distressed debt
UNITED STATES - San Francisco City and County Employees’ Retirement System has made a €20m commitment into the Apollo European Principal Finance fund, to tap into the growing demand for distressed debt support.
