All Real Assets articles in May 2006 (Online)
View all stories from this issue.
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News
LaSalle's Ryall joins Gellatly at MLIM
REAL ESTATE - Merrill Lynch Investment Managers has hired LaSalle Investment Management's Matthew Ryall. MLIM said Ryall would be a director in its real estate research and strategy team - "with particular responsibility as fund manager for t...
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US REITS fall as interest rate fears rise
REAL ESTATE - The value of US Real Estate Investment Trusts tumbled last week amid a fall in equity share prices across global markets and investors’ anticipation of an interest rate rise. In a commentary, Royal Institution of Chartered Surv...
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Pennsylvania to invest in real estate finance firm
REAL ESTATE – The Pennsylvania Public School Employees Retirement System has chosen to invest up to $150m (€116m) into a new real estate finance company being created by Apollo Real Estate Advisors. The name of the new company is Apoll...
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Quinlan leads Spain’s largest property deal
REAL ESTATE - Irish property group Quinlan Private last week announced that it had led a group of unnamed investors in the acquisition of a Barcelona shopping centre from Deka, the German open-ended fund. A spokesman for Quinlan would not disclos...
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Pramerica creates first venture with ProLogis
REAL ESTATE- Pramerica Real Estate Investors has established a joint venture for the first time with ProLogis to develop industrial properties near Denver in Colorado. Pramerica made a $40m (€31m) investment in the venture, which gets the pe...
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London & Capital restructures, plans new funds
REAL ESTATE - Boutique investment firm London & Capital will boost its real estate investment team under a new head of real estate funds. The appointments come as part of a restructuring effort that will see Iain Keys assume overall responsibi...
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Credit Suisse real estate arm gets new MD
REAL ESTATE - Beat Schwab is to replace Alois Weibel as managing director of Credit Suisse’s Swiss real estate services arm Wincasa. Weibel is to retire from January 1 next year, the firm said in a release. The firm employs around 300 peo...
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Share issue funds warehouse acquisition
REAL ESTATE - Macquarie Goodman, the Australian investment trust, last week issued $264m in shares to institutional investors to part-pay for its €352m acquisition of Luxembourg-based warehouse developer Eurinpro. The 8.8% Macquarie-owned t...
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AEW raises €532m from schemes, endowments
REAL ESTATE- AEW Capital Management has closed its money raising for its latest commingled fund, AEW Partners V. It attracted equity capital from both pension funds and endowments totaling $686m (€532m). AEW portfolio manager Mark David...
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Cazenove says investors hail new trade platform
REAL ESTATE - Cazenove says most investors have welcomed the new real estate trading facility it has launched along with Morley Fund Management and DTZ. Morley last week unveiled a UK "trading facility" for its own unlisted real estate f...
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Morgan Stanley cuts forecast, boosts Euro team
REAL ESTATE - Morgan Stanley analysts last week forecast a 10% fall in the value of European real estate to the end of 2007 – as the bank’s investment management arm boosted its real estate team with two new senior managers. Concern o...
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Prudential opens Asia real estate office
REAL ESTATE - Prudential is to open an Asia-Pacific regional office in Singapore. The new office – a joint venture between Prudential Property Investment Managers, the UK real estate business, and fund management firm Prudential Corporation ...
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Schroders scheme ups property allocation
REAL ESTATE - Schroders has shifted its £500m (€733m) pension fund towards UK commercial real estate – with investment head Alan Brown slamming the “transparently wrong” assumptions underpinning asset/liability modelling....
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Pramerica signs agreement for retail venture
REAL ESTATE - Pramerica Real Estate Investors has signed a contract to form a joint venture with Cousins Properties to invest in retail properties. The deal – involving five Cousins properties - could be approved by the end of the month. ...
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German investors hint at more acquisitions
REAL ESTATE - Eurocastle, the largest listed owner of German commercial real estate, has hinted at imminent acquisitions in its new annual report. The offshore company, which is managed by US investment firm Fortress, said it was looking at R...
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€50bn German REITs market seen
REAL ESTATE – German Real Estate Investment Trusts (REITs) will bring huge benefits for Frankfurt’s financial centre – including creating a new €50bn property market that would put it on par with London and ahead of Paris, a n...
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Texas Teachers invests $400m
REAL ESTATE - The $100bn (€77.8bn) Teacher Retirement System of Texas has decided to place $400m of its real estate allocation into three commingled funds. The Austin-based fund chose to invest into two opportunity funds. It has made a ...
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Rodamco’s direct investment returns 11.4%
REAL ESTATE - The direct investment returns on real estate of Rodamco Europe have risen by 11.4% to €93.7m during the first quarter, it announced. Its triple net asset value per share increased by 5.9% to €64.02. Rodamco’s indire...
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Morley launches real estate trading facility
REAL ESTATE - Morley Fund Management has unveiled a UK “trading facility” for its own unlisted real estate funds. It said the move had been driven by “considerable investor demand” from institutions throughout Europe. T...
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Savills Spanish chief jumps to Jones Lang Lasalle
REAL ESTATE - Savills says it is unlikely to replace Marcus Lemli when the director of Spanish investment leaves later this year.
