More Top Stories – Page 1037
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CPPIB invests fresh CA$1.4bn in real estate
CANADA – The Canada Pension Plan Investment Board has expanded its real estate portfolio with $1.4bn worth of new investments, bringing the fund’s total real estate commitments to $8.4bn.
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Irish property falls on hard times
IRELAND - Irish commercial property repricing has set in hard, as the total return on the SCS/IPD Irish quarterly index fell by 13.9% over three months to end of September, making it the lowest quarterly return in the index history.
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Demolition threats add fuel to UK empty properties row
UK – Findings from CBI/GVA Grimley’s latest Corporate Real Estate Survey have added further weight to the British Property Federation’s campaign to restore empty rate relief for unoccupied properties, as indications are a fifth of companies polled are planning to demolish buildings to avoid paying extra tax.
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Avon signs Partners to work on global property
UK - Partners Group, the Swiss-based global alternative asset manager with over CHF25bn (€16.8bn) in assets under management, has been chosen to manage Avon Pension Fund’s overseas real estate portfolio.
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Survey finds investors still want to tap real estate
UNITED STATES - Investors are ready to make the most of a predicted decline in value of commercial real estate, the results of Ernst & Young ‘s “Reality Check Survey” suggest.
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Netherlands tightens measures against property fraud
NETHERLANDS - The Dutch government is stepping up its efforts to prevent property fraud by tightening rules for notaries, surveyors and brokers.
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Progress redirects Unilever’s real estate
NETHERLANDS – Progress, the €4bn Dutch pension fund of Unilever Netherlands, is altering its real estate strategy by replacing direct real estate holdings with indirect real estate investments.
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Texas Teachers commits €200m to Europe
UNITED STATES - Teacher Retirement System of Texas has approved a €200m commitment to the Blackstone Real Estate Partners Europe III commingled fund.
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Santa Barbara County plans international expansion
UNITED STATES - Santa Barbara County Employees’ Retirement Association is looking at expanding into international real estate for the first time.
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CalSTRS to stick with changing First Industrial
UNITED STATES - California State Teachers Retirement System anticipates its relationship with First Industrial Realty Trust will not be affected by a major change in the firm’s upper management.
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Sacramento County puts manager search on hold
UNITED STATES - Sacramento County Employees’ Retirement System has put plans to conduct a new manager search on hold until at least the first quarter of next year.
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Apollo plans a rebrand
GLOBAL – Apollo Real Estate Advisors, the global firm with $11.6bn of equity commitments to investments worldwide, is changing its name to AREA Property Partners from the beginning of next year.
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Townsend retains its job in San Diego
UNITED STATES - San Diego City Employees’ Retirement System has chosen to retain The Townsend Group remain as its real estate consultant.
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CBRE trust widens into UK retail
UK - The CB Richard Ellis Realty Trust has expanded its property holdings outside of the United States after purchasing a second major UK retail park.
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REITs are worth it in the long-term – S&P
GLOBAL - Real Estate Investment Trusts (REITs) are still solid, long-term investment choices despite their recent poor returns, according to Standard & Poor’s (S&P) latest global property and REIT report.
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'Flat' review sparks talk over UK housing potential
UK – A government-commissioned report on proposed reforms for UK rented housing has sparked a debate which suggests the country’s top property experts disagree on the best way to help investors tap opportunities in the UK’s residential marketplace.
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Grosvenor to buy a ride on the Chinese dragon
ASIA/UK – Grosvenor, the London-based group of international property investment, development and fund management businesses, has launched a $600m (€468.7m) China retail fund.
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Alameda County opts out of JP Morgan commingled fund
UNITED STATES - Alameda County Employees Retirement Association has decided it wants to pull out of its commitment to JP Morgan’s Alternative Property Fund.
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Ohio PERS grabs opportunity to look beyond the value-add
UNITED STATES - Ohio Public Employees Retirement System will be shifting some of its investment capital in real estate to an opportunistic strategy in a bid to tap the little investment likely to surface over coming months.
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CalPERS reserves $400m for hotel fund
UNITED STATES - California Public Employees Retirement System has made a $400m (€300.4m) commitment to the Starwood Capital Hospitality Fund II, following earlier success with an first version of Starwood’s specialist fund.
