Latest reports – Page 3820
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Adler in bid to widen ownership
German property firm Adler is to increase its capital in a bid to improve liquidity and raise funds for unspecified acquisitions. The firm will issue 5,000,0000 non-par shares, in addition to the current 10,000,000 shares. Majority shareholder Jo...
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Shurgard reconsiders
US – After rejecting unsolicited buy-out overtures from self-storage REIT giant, Public Storage, for four months, the board of US self-storage REIT Shurgard Storage Centers has done an about-face and decided to explore the sale of the company. ...
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Leichnitz takes over at IVG
Wolfhard Leichnitz will take over as chairman of IVG Immobilien, one of Europe’s largest real estate firms, on 1 July. In a statement, the former Viterra chairman said he would continue IVG’s expansion “according to clear profit...
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Finnish insurers invest in Sponda logistics fund
Pension funds and insurers including Fennia, Vertias and Assai Oy are to invest in a Finnish logistics fund with real estate firm Sponda. The fund will invest in logistics across the funds’ domestic market in areas such as Vantaa, Turku, Ta...
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Pramerica cashes in DeWag, scouts new ventures
Private equity firm Pramerica last week sold German residential real estate firm Deutsche WohnAnlage (DeWag) to US firm Archstone for €518m. It completed the sale on behalf of unidentified institutional investors that have helped it acquire 91%...
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Oregon PERF nears decision on global REIT manager
REAL ESTATE- The Oregon Public Employees Retirement Fund is approaching making a final decision on its search for a global REIT manager. The pension fund expects to make a final choice sometime during the late summer to early fall. The pension fu...
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Ohio Police & Fire joins value-added US fund
US – The Ohio Police & Fire Pension Fund has made a US$20m (€15.6m)commitment to the CB Richard Ellis Strategic Partners IV commingled fund. The investment forms part of Ohio Police & Fire’s high-return investment strate...
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Cheung Kong REIT races for listing
HONG KONG – The betting among Hong Kong property experts is that Cheung Kong’s Prosperity REIT will beat the Link REIT to become Hong Kong’s first listed trust. Hong Kong’s listed property trust sector has had a protra...
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Pension fund backs Italian independence
EUROPE - Cordea Savills last week announced that it had found a cornerstone institutional investor for Italian Opportunities, a closed-end Luxembourg real estate SOPARFI. The fund is looking to raise €200m for single-asset and portfolio ac...
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Pension funds surge into US REITs
US – Several large public pension funds are preparing to jump into publicly traded real estate securities (REITs). Industry insiders are predicting that $500m (€422m) of new capital will be invested in REITs by public pension funds ov...
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Japanese investment set to increase – still a key destination for foreign capital
Japan - Japanese REITs are set to boost the already substantial cross-border investment flows in Asia. From 2007, they are expected to be free to acquire foreign properties and incorporate them into their portfolios.
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Funds put faith in urban investment
US – Two California-based pension funds have committed capital to an urban investment strategy using commingled funds. The Los Angeles County Employees’ Retirement Association has made a $60m (€47m) investment into UrbanAmerica I...
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Oppenheim plans E1bn investment in new properties
GERMANY – Oppenheim Immobilien-KAG, Germany’s leading provider of property funds for institutional investors, plans to invest €1bn in new properties in 2006, 30-40% of which will go to retail stores, according to OIK chief executive...
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WP Realty forms new investment fund
US - WP Realty has put together a new investment fund called WP Real Estate Investment Fund IV. There was a total equity raise of US$150m (€117m). One of the largest investors in the fund was BayNorth Capital Partners, which has many institut...
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CalPERS looks to Europe for reasons to spend
US - The California Public Employees' Retirement System (CalPERS) is to boost its $11.6bn real estate allocation with opportunistic investments in cross-category European real estate, a spokesman for the fund said.
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Carlyle hires for Nordic real estate
REAL ESTATE - US private equity group Carlyle has appointed Thomas Lindström to head its new Nordic real estate operations. Lindström joins from GE Real Estate, where he was responsible for Nordic acquisitions. As managing director,...
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Washington State invests $850m in real estate
REAL ESTATE- The Washington State Investment Board has placed $850m (€677m) of new investment capital into real estate in two investments. The fund made an investment of up to $750m into GMS International and a $100m commitment into the Warb...
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Illinois to invest up to $90m in three funds
REAL ESTATE - The $11bn Illinois State Board of Investment will be investing up to $90m (€71.7m) into three non-core pooled (commingled) funds. The fund will take the action at its board meeting later this month, June 29-30. T...
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Sacramento interviews four real estate managers
REAL ESTATE - The Sacramento County Employees Retirement System is to interview four value-added commingled fund real estate managers for its new manager search. The four commingled funds are AEW Value Investors II, GEAM Value Add Realty Partners,...
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Swiss Publica in €70m Basle development
REAL ESTATE – Publica, a pension fund for federal employees that is one of Switzerland’s largest, has invested CHF110m (€70m) in the creation of 240 new flats in the city of Basle. Publica, which allocates 4.5% of its CHF32.8bn i...
