More Top Stories – Page 1050
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Ohio Police & Fire commits to high return fund
UNITED STATES - Ohio Police & Fire Pension Fund is continuing its high return commingled fund investing strategy by making a $25m (€16.2m) commitment to the Walton Street Real Estate Fund VI.
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Investors pull back from emerging markets
GLOBAL - Investors are pulling back from emerging markets as the credit crunch dents both global transaction volumes and occupancy.
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Vietnam gains ground in global rent rise
VIETNAM - Ho Chi Minh City has seen the world’s fastest office rent rises in the 12 months to March, with occupancy costs rising 94%, according to CBRE’s Global Market Rents survey.
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Asian retail is 'sound'
ASIA - ING Real Estate has described the Asian retail market as “fundamentally sound” and announced the acquisition of 80% stakes in two Korean hypermarket developments, in a joint venture with an unnamed local insurance firm.
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Germans abandon bricks for unlisted funds
GERMANY - Cross-border investment in German real estate is pushing German pension fund investors to abandon bricks and mortar for unlisted funds, according to INREV.
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Smaller funds need to be more active - NAEV
EUROPE – Smaller pension funds may need to be more active in their handling of real estate assets than larger pension funds, suggests evidence presented at the recent IPE Real Estate Forum.
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Dutch transport funds team up to buy real estate
NETHERLANDS – The €12bn Dutch railway pension fund (SPF) and the €2bn public transport pension fund (SPOV) have, together with Generali Real Estate, bought an €80m Dutch shopping centre project.
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Morgan Stanley to invest $4bn in infrastructure
UNITED STATES - Morgan Stanley has raised two-thirds more than originally intended for its global commingled fund, known as Morgan Stanley Infrastructure Partners, as investor demand created fund flows worth a total $4bn (€2.56bn).
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Subprime crisis 'took heat out of CEE'
VIENNA/CEE – The impact of the subprime crisis on stock markets helped reduce overpricing and overheating in the Central and Eastern European real estate markets, delegates at the Vienna Real have agreed.
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Finnish fund in quest for UK real estate
FINLAND – A Finnish pension fund is looking for managers for a £150m (€189.5m) UK real estate mandate, using IPE Quest.
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JPMorgan raises $600m for China fund
UNITED STATES - JPMorgan Asset Management raised in excess of $600m (€380.6m) for its latest commingled fund, the JPMorgan Greater China Property Fund.
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Illinois Municipal sees value in adding funds
UNITED STATES - Illinois Municipal Retirement Fund is moving $150m (€95.1m) of assets into value-added commingled funds.
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Ohio School Employees signs on for Reits
UNITED STATES - School Employees Retirement System of Ohio has selected Invesco Real Estate and ING Clarion Real Estate Securities as global Reit managers.
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Rockpoint takes up residence in Park Avenue
UNITED STATES - Rockpoint Group LLC has added a new regional office with the opening up of a New York City venture on Park Avenue.
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Investors 'should target ports'
EUROPEAN - Location, and not the growing differential between prime and secondary assets, is driving pricing in European logistics, according to a report published by Jones Lang LaSalle.
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UK 'real values' yet to see full impact
UK - The UK property market is approaching fair value, but it has yet to face the fall-out from an economic downturn, according to British Land CEO Stephen Hester.
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Russia to weather credit crisis
EUROPE - Moody’s last week issued an 18-month ‘negative’ rating for European real estate, blaming “fundamental credit conditions” – but claimed Russia would continue to offer value for investors.
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Cambodia is the new Vietnam
CAMBODIA - International investors in Asian real estate are looking beyond the rapidly saturating Vietnamese market to Cambodia in search of macro-driven investment opportunities.
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Europeans escape US in Asia
ASIA - Pension funds are increasing their exposure to Asian property in a bid to escape the US-led economic downturn.
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Corio expects equalled 2008 result
NETHERLANDS - Property investor Corio expects its 2008 results to be in line with last year’s return, after announcing its 2007 performance gained 2.7% to over €203m.