More Top Stories – Page 1040
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UK lending improves but still faces uncertainty
UK – Bank of England figures show that real estate lending in the UK recovered slightly in the first quarter of 2009, but Jones Lang LaSalle (JLL) has warned that secondary assets remain a significant problem.
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CPPIB and Kimco join forces to hunt US retail
AMERICAS – The Canada Pension Plan Investment Board (CPPIB) has acquired a $166.5m (€125.8m) interest in four US shopping centers through a joint venture with Kimco Realty Corporation.
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Valuers ‘could do better’, say investors
GLOBAL – More than a third of investors believe valuers “could do better”, according to an unpublished survey of 63 fund managers active in a number of markets.
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Maine PERS to ramp up real estate exposure in 2010
UNITED STATES - Maine Public Employees Retirement System is planning to invest between $100m (€76.5m) and $200m in real estate in 2010.
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Pension funds and IVG co-invest in green fund
EUROPE – Four unnamed pension funds – three German, one Austrian – have each invested €33m in a €300m sustainable office fund.
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Half of real estate funds ‘will bleed to death’
GLOBAL - As many as 50% of fund managers will go out of business in an industry shakeout that still has far to go, according to Claude Angéloz of the Swiss-based Partners Group.
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Imperial Tobacco holds on to performance accolade
UK – The Imperial Tobacco pension scheme, winner of the coveted long-term performance award at the IPD/IPF UK Property Investment Awards in London, has highlighted the importance of consistency and adding value to existing assets.
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Munich buy reflects the robustness of residential
GERMANY – An unnamed European institutional investor – understood to be a German pension fund – has acquired a fully rented 274-unit residential block in a Munich suburb for €42.1m.
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AMF faces out-of-town competition
SWEDEN – Swedish pensions provider AMF, one of the biggest owners of Stockholm offices, has been keen to gauge how much competition it will face from foreign investors in its domestic market.
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US housing recovers – but tax regulations deter foreign investors
UNITED STATES – The residential market in the US is recovering, but foreign investors will not be placed to capitalise on opportunities unless government tax restrictions are lifted.
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Investors to take the highroad to Warsaw
POLAND – Polish infrastructure is poised for pension fund investment despite investor concerns over Central and Eastern European (CEE) economies, according to Barings fund manager Matthias Siller.
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Pension funds tap long-term potential of old age
UK – The raising of £80m (€92m) in new equity for a UK social infrastructure fund reflects pension fund appetite for long-term investments linked to inflation, according to Aviva Investors fund manager Neil Gardiner.
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Mass PRIM rebuilds timber portfolio
UNITED STATES - Massachusetts Pension Reserves Investment Management Board (Mass PRIM) is to invest a further $500m ($376m euros) in US timber after selling a $700m section of its portfolio approximately three years ago.
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San Antonio raises allocation and eyes new funds
UNITED STATES - San Antonio Fire and Police Pension Fund has increased its strategic asset allocation to real estate by four percentage points, giving it $95m (€71.4m) in new spending power.
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European pension funds retrench as Korea looks westward
ASIA-PACIFIC – Local investors will replace US and European pension funds in Asia within 10 years, the Asian Public Real Estate Association (APREA) conference heard last week.
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Henderson re-opens pan-European fund
EUROPE – Henderson Global Investors will this week reopen its €405m institutional pan-European real estate fund of funds after 76% of investors agreed to revoke their redemptions.
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Local authority funds urged to invest in housing
UK – A real estate debt specialist has slated UK local authority pension funds for failing to invest in domestic social housing.
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INREV index posts recovery figures: UK leads
EUROPE – European non-listed funds returned a negative -7.8% in 2009, compared with -19.8% the previous year, according to the INREV Index of 258 funds representing assets worth €132.7bn.
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Nominations for Outstanding Industry Contributions and Best Investment Consultancy
The IPE Real Estate Awards is about finding and rewarding the best in their field. And This is the part of the process where we need your help.
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Germany’s BVK signals fresh interest in Polish real estate
GERMANY – Invesco Real Estate has invested in a logistics development in Poland on behalf of pension fund BVK, and says there is growing interest in the market from other German institutional investors.
