Latest Real Estate News – Page 864
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ING shuffles European managers for healthcare launch
NETHERLANDS - ING Real Estate Investment Management (ING REIM) has shuffled its European management team ahead of the launch of the firm’s first healthcare property fund.
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West Sussex mulls overseas move
UK - West Sussex local authority pension fund has reappointed Cushman & Healey in a £340,000 deal to manage its direct property portfolio.
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CPPIB renounces rights to acquire Auckland airport
CANADA/NEW ZEALAND – THE Canada Pension Plan Investment Board (CPPIB) has headed off government attempts to block foreign ownership of strategic infrastructure assets, by gaining 57.7% shareholder approval for a carefully worded bid for a minority stake in Auckland International Airport.
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Developing Europe keeps investors local
EUROPE - Turkey and Russia now outclass other European property markets for both development and investment, indicating a shift away from “Old Europe” towards new holdings and developments, suggests a report co-published by the Urban Land Institute and PwC.
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CalSTRS buys into opportunistic projects
UNITED STATES - California State Teachers Retirement System has grown its opportunistic real estate portfolio by $154m (€100.2m) through two new commitments, including one to a new development project in Washington DC.
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Chicago Police eyes more real estate
UNITED STATES - Chicago Policemen’s Annuity and Benefit Fund has increased its allocation to real estate from 5% to 7%.
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New player to enter 'B-Class' real estate
UNITED STATES - Former principals of Somera Capital Management have created a new player in the real estate manager market called Pacific Retail Capital Partners
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ING Clarion pays $116.2m for apartments
UNITED STATES - ING Clarion Partners has closed one of the largest single apartment investments in some time and purchased a 217-unit in Hoboken, New Jersey, for $116.2m (€75.5m).
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Principal creates California JV
UNITED STATES - Principal Real Estate Investors has created a new joint venture with The Martin Group to invest in Californian real estate.
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APG and ATP back INREV index campaign
EUROPE - European pension funds have lent their weight to a campaign organised by the European Association for Investors in Non-listed Real Estate Vehicles (INREV), aimed at increasing transparency among unlisted property funds.
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Finland peers down from 10-year peak
FINLAND - Finnish real estate delivered the market’s strongest performance in a decade last year, returning 11.3% –an increase of 1.3% over the previous year, according to figures published by KTI.
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UK industry defends 'pretty good' valuers
UK - Fund managers have shored up the value of property indices against claims they adequately fail to reflect the market.
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UK property set to stabilise in summer
UK – The Real Estate Investment Trust Association (Reita) has become the latest industry body to forecast a mid-year pick-up in the UK property market.
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Fortis forms car pool with Vinci
EUROPE - Insurer Fortis is in exclusive talks with French firm Vinci to pool the firms’ European carpark assets in a joint venture.
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FSP raises the ceiling on property
DENMARK- Finanssektorens Pensionskasse, the Danish pension scheme forfinancial sector workers, is adding a hefty slice of property exposureto the unit-linked scheme now used by all new members.
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Arizona State cuts follow-ons to limit market impact
UNITED STATES - Arizona State Retirement System is cutting back on its follow-on commitments to existing real estate investments but still diversifying some assets to prevent ‘denominator’ damage of over-allocation.
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Kåpan eyes more real estate after poor year
SWEDEN – The SEK32.7bn (€3.5bn) Kåpan Pensioner scheme forgovernment employees booked a return of 2.1% for 2007, and now plans toincrease its real estate allocation to 10%.
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LaSalle warns of poor Reits performance
United States - LaSalle Investment Management Securities has indicated the performance of US REITs was lackluster in the fourth quarter of 2007 and further is likely to be for the coming months.
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CalSTRS invests $100m in Nordic real estate
UNITED STATES - California State Teachers Retirement System has bolstered its international real estate portfolio with commitments to three new investment entities totalling nearly $252m (€165.2m), including $100m in Nordic property.
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Virginia to ups its real estate potential
UNITED STATES - Virginia Retirement System has approved a policy to increase its real estate allocation from 7% to 10%.
