More Top Stories – Page 1054
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UK residential 'risky' despite 2007 returns
UK - Market fragmentation and unfavourable tax treatment are scuppering attempts to widen investment in the UK residential, Savills director Jacqui Daley said last week.
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€91m spring clean at IVG
GERMANY – German real estate asset manager IVG has sold €91m in German property to London-based real estate private equity investor CIT Europe.
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Peace agreement sees New York make Emerald investment
UNITED STATES- Four New York City pension fund have committed to invest $150m (€94.1m) into the Emerald Infrastructure Development Fund LP, which in turn invests capital in Northern Ireland.
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Kansas PERS issues real estate consultant RFP
UNITED STATES - Kansas Public Employees Retirement System has sent out a Request for Proposal for a new real estate consultant.
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Illinois Teachers signs two core accounts
UNITED STATES - Teachers’ Retirement System of the State of Illinois has hired Cornerstone Real Estate Advisers and Invesco Real Estate as its new core separate account real estate managers.
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Mass PRIM places all REITs in one week
UNITED STATES - Massachusetts Pension Reserves Investment Management Board is a good example of the difference of investing in public and private real estate, as in the first week of March, the pension fund was able to place its entire REIT allocation for the year, worth $540m (€342.1m), in the ...
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Kimpton books $246m into hotels
UNITED STATES - Kimpton Group Holding raised $246m (€155.6m) through institutional partners for its latest hotel investment fund, Kimpton Hospitality Partners II.
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Pension funds eyed for regional infrastructure
UK - Pension funds could be targeted for investment in a £1bn (€1.25bn) UK regional fund, set up to invest in small-scale and transport infrastructure projects.
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NZ scotches CPPIB airport deal
NEW ZEALAND - Canada Pension Plan Investment Board (CPPIB)’s long-running attempts to acquire a stake in Auckland International Airport (AIAL) collapsed last week after the New Zealand government refused to approve its application under the Overseas Investment Act.
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Sponda goes to the docks
FINLAND - Finnish property firm Sponda has agreed a €12m deal with the Port of Helsinki to build a harbour service centre at Vuosaari.
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INREV plans Asian expansion
EUROPE - The European Association for Investors in Non-listed Real Estate Vehicles (INREV) is to expand into unlisted Asian property.
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Direct property is a winner for SPOV
NETHERLANDS - Direct property was the best returning asset class of the €2.4bn pension fund for public transport SPOV in 2007, generating a return of 11.4%.
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IPE Real Estate Awards seeks outstanding contributions
There's only a few days to tell us who YOU think should be rewarded for their outstanding work in Europe’s Real Estate Industry over the last 18 months.
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Urdang raising hit by European pensions retreat
UNITED STATES - Urdang Capital Management did not reach the expected initial capital raising for its latest commingled fund, the Urdang Value-Added Fund II.
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Swiss pensions increase AIFAA’s US play
UNITED STATES/SWITZERLAND - AIFAA, an investment company backed by 12 Swiss pension funds, has doubled the size of its real estate portfolio in the United States by acquiring two properties in all-cash deals for $72m (€45.9m).
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VastNed forced to reconsider takeover
NETHERLANDS - VastNed Retail, the €1.8bn property fund, has beenforced by majority shareholders, such as pensions investor PGGM, tore-consider its initial refusal to a takeover bid.
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New York stores assets in Europe
UNITED STATES - New York Common Retirement Fund has added European self-storage properties to its real estate investment program for the first time with the acquisition of a 51% interest in Public Storage’s Shurgard Europe operations.
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Pension fund shops for real estate via AEW-Weingarten JV
UNITED STATES - AEW Capital Management and Weingarten Realty Investors have formed a $229m (€144.2m) partnership for the recapitalization of a US-based retail portfolio, which is expected to benefit an unnamed US pension fund.
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Texas Teachers applies $600m to non-core property
UNITED STATES - Teacher Retirement System of Texas approved $600m (€382.1m) of new real estate commitments in March to non-core real estate commingled funds.
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Finnish PFs invest in Portuguese retail
FINLAND/PORTGUAL - Finnish investors, including the €24.3bn Local Government Pensions Institution and pension insurer Ilmarinen, are among the reference investors in a Portuguese shopping centre fund.
