All Real Assets articles in May 2006 (Online) – Page 2
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News
Pennsylvania fund in govt leasing move
REAL ESTATE- The Pennsylvania State Employees Retirement System has setup an investment program to invest in properties leased to the federal government. The fund has agreed to invest $30m of equity into the Oxford Development Fund I. This is a ...
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News
Merrill nabs two for European real estate
REAL ESTATE - Merrill Lynch has poached two Citibank staff for its real estate arm in Europe, the Middle East and Africa (EMEA). Incoming managing director Joe Pedlow will expand the bank’s London-based commercial real estate financing team...
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Germany’s BVV steps up international real estate
REAL ESTATE – BVV, a €17.7bn pension fund for Germany’s financial services industry, has stepped up its investments in international property funds to compensate for continued weakness in the domestic real estate market. In its a...
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BPF Bouwinvest caught up in Strasbourg row
REAL ESTATE - BPF Bouwinvest, the real estate arm of Dutch pension fund BPF Bouw, has become embroiled in a row between the European Parliament and its host city Strasbourg. Dutch MEP Edith Mastenbroek has been quoted as saying the “current...
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Morley adds three amid inflows
REAL ESTATE - Morley Fund Managers has hired three new fund managers for its life UK real estate team. Barry Hill, Justin Brand and Henry Richardson replace three fund managers promoted internally. Hill, who joins from Arlington Property Inv...
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ABP involved in €484m hotels deal
REAL ESTATE – Stichting Pensioenfonds ABP, Europe’s largest pension fund, is among a group that has bought four European hotels in a deal that will eventually be worth around $621m (€484m). The giant civil service fund, along wit...
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European fund tenders $100m+ in real estate
REAL ESTATE – A continental European corporate pension fund has tendered substantially excess of $100m (€78m) in indirect global real estate via IPE-Quest. The search (QN624) states the investor has no preferred benchmark (although the...
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News
Nominations due for IPE Real Estate Awards
REAL ESTATE - The IPE Real Estate Investor Forum and Awards 2006 are taking place at the Amsterdam Hilton on June 1 – and now’s your chance to make your nominations. “The awards are the first event to honour investors and servic...
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IPD unveils new UK quarterly index
REAL ESTATE – IPD, the global independent research company, has released its first quarterly index report for the UK property market. The new index reflects the performance of more than 7,000 properties valued at close to £100bn (€...
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Latest Hong Kong REIT hits the road
REAL ESTATE - This week the roadshow for the latest Hong Kong REIT initial public offering hits Europe and the US. The Champion REIT from Great Eagle Holdings plans to offer a yield of between 4.85% and 5.5% in the planned $900m offering. Loca...
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S&P unveils nine new real estate indices
REAL ESTATE - Standard & Poor’s has launched nine new Property and REIT Peer Indices - designed to give a more accurate reflection of global property and REIT investment trends. The launch coincides with S&P’s seventh annual GI...
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News
Dutch set up real estate watchdog
REAL ESTATE - Five Dutch investment companies and real estate asset managers say they have taken the initiative towards an independent watchdog. The aim of the new foundation – Stichting Transparantie Vastgoedfondsen or STV – is to inc...
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UK church rebalances real estate portfolio
REAL ESTATE – The £4.9bn (€7.1bn) Church Commissioners fund – responsible for paying vicars’ pensions – rebalanced its commercial property holdings in 2005 to increase diversity and reduce risk. “There was ...
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L&G pooled pension fund ups London allocation
REAL ESTATE - Legal & General’s pooled property pension fund has acquired a £25.6m (€37.3m) office block as part of the firm’s strategy to up its weighting in central London real estate. The firm acquired the refurbishe...
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New Jersey puts $150m into real estate
REAL ESTATE- The New Jersey Division of Investment has placed a total investment of $150m (€117.9m) into two commingled funds. The largest of the two investments was a $100m commitment into the RREEF Global Opportunities Fund II. This close...
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LA Fire & Police pensions in €102m move
REAL ESTATE- The Los Angeles Fire & Police Pension System has made $130m (€102.2m) in real estate investments by committing capital to a new REIT manager and two commingled funds. The fund selected Principal Global Investors as its third...
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SNS Reaal raises €1.3bn from institutions, retail
REAL ESTATE - Dutch bancassurance firm SNS Reaal is to raise €1.3bn in an initial public offering aimed at institutional and retail investors. Former sole shareholder Stichting Beheer SNS Reaal, which supported the Euronext flotation, will ...
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News
University of California activates €1.9bn plan
REAL ESTATE - The University of California has decided to activate its real estate investment program for two of its investment entities. It has $2.5bn (€1.9bn) available to invest in real estate, representing a 5% allocation to the asset cl...
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Finland’s Espoo recruiting real estate managers
REAL ESTATE – The Finnish city of Espoo is scouting for investment teams to manage a new €364m fund being created. The municipality will capitalise the fund, designed to support the city’s long-term infrastructure and real estat...
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Dawnay Day plans India real estate funds
REAL ESTATE - UK investment house Dawnay Day has plans to launch real estate funds in India this year. Its joint venture Indian business, headed by Alok Vajpeyi, is already active in real estate development projects. Vajpeyi, a former Swiss Bank ...
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