More Top Stories – Page 1047
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Pramerica creates investment platform for India
UNITED STATES - Pramerica Real Estate Investors has created an investment platform for investing in India.
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Starwood Land creates $150m JV
UNITED STATES - Starwood Land Ventures has setup a $150m (€95.3m) joint venture with Riverway Properties to invest in residential land acquisition and new project development in Houston.
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Sacramento County works on international REIT manager search
UNITED STATES - Sacramento County Employees’ Retirement System is carrying out an international REIT manager search.
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SWF to invest $150bn in real estate – DEGI
GLOBAL – Sovereign Wealth Funds (SWF) will increase their property exposure to 15% over the next few years, German real estate company DEGI estimates in an analysis of the market.
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Immofinanz and Immoeast buy parent's property
AUSTRIA – Constantia private bank is giving up its real estate business and selling to its sister firms, Immofinanz and Immoeast, for €440m.
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Investors to raise real estate holdings
EUROPE – A study of European institutional investors reveals one in four expect to increase their allocation to real estate this year, while one in 20 expect to reduce their weighting.
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Landmark move predicted on real estate FoFs
EUROPE –European institutional investors are likely to see a significant growth in more liquid real estate fund-of-funds in the market as a result of demand from investors, Landmark Partners has suggested.
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Sweden sells €4.4bn real estate arm to AP
SWEDEN – The Swedish government has agreed to sell the state-owned real-estate company Vasakronan to AP Fastigheter in a deal valued at SEK 41.1bn (€4.4bn).
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Manchester seeks property agent
UK – The £9.6bn (€12bn) Greater Manchester pension fund is seeking a new property management firm to manage part of its real estate portfolio.
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Maine PERS to double real estate portfolio
UNITED STATES – The $11.1bn (€7bn) Maine Public Employees Retirement System has increased the size of its targeted allocation to real estate from 5% to 10%.
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German fund seeks up to $1bn in US core
UNITED STATES - The Deka Global investment fund is looking to invest in United States’ core real estate, to the tune of $500m (€317.4bn) to $1bn.
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LaSalle raising shows less pensions capital in real estate
UNITED STATES - The recent capital raising by LaSalle Investment Management for its Income & Growth Fund V is further proof that pension funds in the United States are not as keen to move capital into real estate.
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US pension funds face slow activity
UNITED STATES – Pension funds have found activity in the buying and selling of real estate is slowing considerably in the United States, as a result of the downturn in prices and sentiment in the property markets.
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Los Angeles City approves non-core commitments
UNITED STATES - Los Angeles City Employees’ Retirement System has approved three new commingled fund investments totaling $50m (€31.5m), in a bid to diversify its non-core holding.
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Managers avoid dance with pension fund pests (amended)
GLOBAL - Smaller European pension funds are finding themselves marginalised by property fund managers tired of their requests for special terms, according to a US fund-of-funds manager.
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US-based PE funds struggle after record inflows
UNITED STATES - Investors are abandoning smaller US private equity property funds, and opting instead to commit capital to “megafunds” to avoid navigating a saturated market.
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Berks to increase alternatives exposure
UK – The £1.49bn (€1.88bn) Royal County of Berkshire Pension Fund has confirmed its intention to move into infrastructure, with the issue of a new manager tender.
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'Goodnight Europe', as RoW dominates returns ranking
GLOBAL - Europe accounted for only one of the world’s top five-returning property markets, according to the IPD Global Index launched last week.
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East Capital goes it alone in Baltics
BALTIC STATES - Fund manager East Capital has taken sole control of a joint venture set up to manage its Baltic property funds and expressed optimism for their performance despite an economic downturn in their target markets.
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Finnish PFs snap up Sponda bond
FINLAND - Finnish pension funds and insurers will be the primary investors in a €130m hybrid bond issued by Finnish real estate firm Sponda, according to chief executive Kari Inkinen.
