More Top Stories – Page 1079
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Alaska to invest in infrastructure
UNITED STATES- The Alaska Permanent Fund Corporation making its first move towards investing in infrastructure and plans to initially invest up to $800m ($601.9m euros) in the concept as a separate asset class. The $40bn pension fund agreed at it...
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CalSTRS gets closer to its real estate allocation
UNITED STATES- The California State Teachers Retirement System is inching its ways towards its targeted real estate allocation of 11% as the pension fund invested $560m (€420m) in the first quarter of this year. CalSTRS has now invested 9...
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Ennis Knupp to increase real estate presence
UNITED STATES - Ennis Knupp & Associates is seeking on expanding its expertise in the real estate asset class as the firm intends to hire four new people over coming months to increase its exposure to the asset class. Scott Brown, principal an...
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Pension funds see Heitman hit double the target
UNITED STATES - Heitman has attracted pension fund institutional investors to the tune of $800m ($599.6m euros) for its commingled fund known as Heitman Value Partners II - double the size of its original $400m Heitman Value Partners offering. One...
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IPO gives comfort to jittery Spanish market
SPAIN - An oversubscribed share issue last week from Spanish property firm Realia suggests a partial recovery in market sentiment from last month’s jitters over asset sale irregularities at another property group. Of the shares on offer, 52%...
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Vector’s bid to become hotel REIT thwarted
UK – Investors have derailed plans by UK hotel group Vector Hospitality to become Europe’s first hotel real estate investment trust (REIT). Vector was forced to abandon a planned flotation on the London Stock Exchange (LSE) last Thursd...
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Mercer calls for earlier selection input
EUROPE - Pension funds seeking real estate fund managers need to get involved in selection process discussions at an earlier stage because the bespoke nature of mandates is becoming more complicated, according to consultants Mercer. Greg Wright, p...
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French & UK pension funds invest €125m in Nordics
NORDIC REGION - Aberdeen has raised €125m in the fourth closing of Aberdeen’s €370m pan-Nordic real estate SICAV as UK, French and Scandinavian pension funds see Nordic economies outstripping those in Western Europe. Ubbe Strihag...
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Baltics to overtake CEE markets in residential
SWEDEN - Swedish bank SEB last week acquired the €37m Europeum Business Centre in Bratislava amid wider positive forecasts for the Slovakian market. The seven-storey building, for SEB’s ImmoPortfolio Target Return Fund, was built in 2...
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Blue Sky hires successor to Satumalaij
NETHERLANDS – Blue Sky Group, the manager of Dutch airline KLM’s pension fund assets, has appointed Hidde Frequin as its new real estate fund manager real estate. Succeeding Raymond Satumalaij, who resigned in March to join fund manage...
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More pension fund capital headed for infrastructure investing
UNITED STATES - More pension funds are expected to move into investing in infrastructure in the months ahead as New Jersey Division of Investment, California State Teachers Retirement System and Alaska Permanent Fund Corporation have now expressed an...
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Oregon edges to target with new deals
UNITED STATES - The Oregon State Treasury has approved two real estate investments for two different institutional investors totaling $129m ($95.6m euros), which edges Oregon Public Employees Retirement Fund (PERF) closer to its 8% real estate alloca...
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Hawkeye Partners begins emerging manager capital handover
UNITED STATES - Hawkeye Partners is about to begin the process of allocating equity it raised through its Scout Fund to emerging managers. The commingled fund manager raised in excess of $650m ($480.3m euros) for the fund through a select group of...
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ING Clarion takes hotel REIT private
UNITED STATES- ING Clarion Partners has acquired Apple Hospitality Two and turned it from a REIT owning 63 extended stay hotel properties in 24 states into a private company. Acquisition price for the company was $877m ($649.5m euros) and financed...
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Shorenstein sees new fund climb fast
UNITED STATES - Shorenstein Properties LLC had one of the fastest fundraising periods in recent memory with its latest commingled fund, the Shorenstein Realty Investors Nine. Around 85% of the investor commitments for the new fund had previously i...
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REITs to determine Indian property market
INDIA - Moody’s has urged the Indian government to push forward a regulatory and taxation framework allowing that market to introduce real estate investment trusts (REITs). In a research paper published last week, the ratings agency suggeste...
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Swedish central bank issues property price warning
SWEDEN - The Central Bank of Sweden warned last week of property price volatility as institutional investors continue to plough cash into Nordic real estate. Central bank deputy governor Lars Nyberg warned in a speech foreign investor interest in...
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Texas Employees makes major move to global REITs
UNITED STATES - The Employees Retirement System of Texas has decided to invest all of its targeted allocation for real estate into a global REIT investment strategy. The $24bn (€17.86bn) public pension fund’s targeted allocation for r...
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Investors squeeze Ferrovial over Polish project
Institutional investors are urging Spanish infrastructure group Ferrovial to re-route a Polish infrastructure project they claim endangers local wildlife. The Polish government, which commissioned the Via Baltica by-pass project, is currently bef...
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US real estate still looks good - ING Clarion
UNITED STATES - Economic and industry fundamentals are still in place to support continued strength in the United States commercial real estate markets in 2007 but returns will be moderate and cap rates will ease, according to ING Clarion. In a US...
