More Top Stories – Page 1036
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Land Securities abandons demerger plans
UK – Land Securities announced yesterday in its half-yearly annual results that “adverse market conditions” have forced the firm to abandon its demerger plans in order to protect shareholders’ interests.
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LaSalle launches UK opportunity fund
UK – LaSalle Investment Management is raising a £400m (€487m) opportunity fund to take advantage of declining property values and potential distress in the UK real estate market.
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Foreign investors get smaller piece of the pie
CHINA – Domestic investors took an increasing larger share of the real estate investment market in China in the first half of the year, a report by property consultants DTZ shows.
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NYSTRS invests in warehousing and debt
UNITED STATES – New York State Teachers’ Retirement System (NYSTRS) has added to its real estate portfolio by investing in an industrial commingled fund and by making several investments in debt real estate.
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More flexibility or Spanish REITs will flounder – Testa
SPAIN – The Spanish government’s drafted legislation for real estate investment trusts (REITs) must be made more flexible in order to encourage the sector to develop, delegates heard at the latest Urban Land Institute (ULI) conference.
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Sustainable leases get the green light
UK – The first clear framework to help landlords and occupiers increase the environmental performance of existing buildings has been published, claims the UK’s Better Building Partnership (BBP).
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Crisis of confidence for UK property
UK – Confidence has collapsed across the UK real estate sector according to Smith & Williamson’s latest annual survey.
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Opportunistic funds continue to attract capital – Clerestory
GLOBAL – Capital continues to be raised globally for opportunistic real estate funds, albeit at a slower pace, despite the credit crunch and falling economic growth, according to research from Clerestory Capital Partners.
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Axa REIM shifts into distressed debt
EUROPE – Axa REIM, the real estate arm of Axa Investment Managers Group, is holding back from investing in European markets because it predicts property prices will drop even further and will concentrate on buying distressed debt.
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CEE real estate growth is kicked into the tall grass
EUROPE – Real estate markets in Central and Eastern European (CEE) countries will not escape the effects of the financial crisis over the next couple of years and are potentially risky choices for investors who are considering re-entering the markets, according to Nadja Savic, associate for CB Richard Ellis Investors ...
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US may correct by 30% - JER Partners
UNITED STATES - With the US entering the worst recession for 25 years, "the US real estate market may reprice by up to 30% following the correction of 10-20% that has already taken place," Michael Pralle, CIO and COO of US-based fund manager JER Partners, has told IPE Real Estate.
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UK market tipped as first to recover and invest
UK/GLOBAL - The UK’s real estate market is predicted to be among the first to exit the economic downturn ahead of more volatile markets, according to analysts’ speaking at the Barcelona Meeting Point this week.
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Illinois Teachers reviews five-year strategy
UNITED STATES - Teacher Retirement System for the State of Illinois is looking at making several changes to its real estate strategy as part of its five-year plan for real estate.
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Opposing markets halt TKP’s real estate gains
NETHERLANDS – TKP Pensioen has revealed the financial crisis has brought the performance growth of its real estate investments to a standstill.
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EC sustainability still a long way off real estate
EUROPE – The European Commission has revealed draft proposals for an EU-wide Energy and Water Performance of Buildings Directive this week in a bid to encourage sustainability and more energy efficiency in buildings across Europe, but experts maintain the EC still has a long way to go before achieving a ...
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Tennessee Consolidated extends manager relations
UNITED STATES - Tennessee Consolidated Retirement System is beefing up the range of separate account real estate managers it invests with.
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Private equity market is still a target - Preqin
US - Private equity real estate markets continues to attract long-term investors despite the financial crisis, according to the Preqin 2008 Private Equity Real Estate Review.
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Apollo to tap distress calls
US - Apollo Real Estate Advisors is hoping to take advantage of the turbulent market conditions to seize opportunities in distressed debt funds for the benefit of pension funds, but buying debt funds at discounted prices from banks.
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Study presents fresh call for EU REITs
GLOBAL - Real estate experts have today unveiled the first blueprint of how an EU Real Estate Investment Trust (REIT) might work and insisted now is the time to push the proposal through the Commission in Brussels.
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German rail IPO hits the buffers
GERMANY – The German government has halted plans to list parts of the federal railway company Deutsche Bahn (DB) on the stock exchange because of market turbulence.
