Latest Retail News – Page 119
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US pension fund capital heads back to core
UNITED STATES - Some pension fund capital in the United States is flowing against the tide and being reallocated to a core investment strategy.
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Strategies switched amid lower Romanian returns
ROMANIA - Charlemagne Capital’s €110.5m sale of three Romanian property assets last week indicates a significant shift in that market, according to investors.
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BT pension fund to sell £240m portfolio
UK – Hermes Real Estate has placed 10 property vehicles on the market, in the hope of generating £240m (€346m) for the BT Pension Scheme.
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Stunted supply boosts European retail
EUROPE - European pension funds are on a regional shopping spree motivated by a limited supply of new assets in low-risk markets, according to Aberdeen fund manager Nico Tates.
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Indiana PERF searches for core and REIT managers
UNITED STATES - The Indiana Public Employees Retirement Fund is now searching for real estate managers for core and REIT strategies through new RFPs.
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San Diego City targets non-US real estate
UNITED STATES - San Diego City Employees Retirement System has approved its first ever targeted allocation for non-United States real estate investments.
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Pension funds "ready for Russian real estate"
RUSSIA - Pension funds – at least Nordic ones – are ready to invest in Russian real estate, having overcome earlier reluctance concerning the complexity of the market, according to Ole Dall-Hansen, chief executive of Aberdeen Property Investors Eastern Europe.
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Pension funds show distressed debt interest
UNITED STATES – US pension funds are considering placing real estate capital into debt strategies on the back of recent market turbulence.
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New Jersey tries on separates
UNITED STATES - The New Jersey Division of Investment is shifting into the use of real estate separate accounts and has hired General Motors Investment Management for a $150m (€106.4m) equity mandate.
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RREEF expects US cap rates to climb
UNITED STATES – RREEF has predicted cap rates on the purchase of existing US properties will rise by 50 basis points by the end of 2007.
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US pension funds buy opportunity
UNITED STATES - Pension funds in the United States are investing more capital into commingled funds with opportunistic investment strategies.
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Irish pension fund sells retail stores
IRELAND – The Irish Property Unit Trust is selling some of its retail investments in Cork and Limerick, as well as an office block in Dublin, to finance its stake in a new Cork retail property project.
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Pension funds give euro focus to Goodman
EUROPE – Asset management firm Goodman Property Investors has picked up a series of new European real estate mandates from pension funds in recent months, the latest of which is from GlaxoSmithKline (GSK).
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Lothian pension tenders its real estate
UK – Lothian pension fund is reviewing its real estate investment manager and searching for a firm to handle the fund’s asset allocation.
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US pensions follow Mexican residential trail
UNITED STATES - More pension fund capital is being ploughed into the Mexican real estate market and heading for retail and ‘single family home’ developments, according to property investment firm ING Clarion.
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ECP to extend retail centres
EUROPE - The €2.2bn investor EuroCommercial Properties is increasingly focusing on extending its existing centres to improve its competitive position in a pressured property markets.
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North Dakota State shifts core capital to value-added
UNITED STATES - North Dakota State Investment Board has decided to move a portion of its capital originally invested in core real estate and move it into the value-added real estate bucket.
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Carrefour to spin off property
FRANCE - French retailer Carrefour is to offer 20% of its €24bn property portfolio to “strategic institutional real estate partners” and other investors, including pension funds.
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Corio to divest office and industrial portfolios
EUROPE - The €6bn property investment company Corio has decided to explore the divestment of a major part of its offices and industrial portfolios, and to further focus on its retail activities.
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Unibail-Rodamco prepares post-merger management
NETHERLANDS - Unibail-Rodamco is almost ready to announce its top 50 management structure as its integration efforts are now on track, the €23.9bn property investor has said.
