More Top Stories – Page 1087
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European property market turnover hits €227bn in 2006
REAL ESTATE - The European commercial real estate market has doubled over the past two years, According to a CB Richard Ellis report just published, turnover increased 46% last year to €227bn, following an increase of 47% the previous year....
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Investors should communicate concerns to managers - INREV
REAL ESTATE - "INREV works hard to persuade fund managers to provide more comprehensive data, but investors also have a role to play in encouraging managers to do this as well," INREV CEO Lisette van Doorn spelled out to IPE Real Estate at ...
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DIM Vastgoed to sell entire US retail portfolio
REAL ESTATE – Dutch property investor DIM Vastgoed is considering selling its entire $505m (€380m) portfolio of US retail centres. The company aims to profit from the "current exceptionally favourable sellers’ conditions in...
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Ohio School Employees places capital into two commingled funds
REAL ESTATE - The School Employees Retirement System of Ohio has approved commitments into two commingled funds. These were Colony Investors VIII and CB Strategic Investors Europe Fund III. The pension fund made an allocation of up to $75m ($57m ...
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LPFA scouts global property manager
REAL ESTATE - The £3.6bn (€5.3bn) London Pensions Fund Authority (LPFA) is looking for an external investment manager to expand its £150m real estate portfolio outside the UK. The portfolio, which up to now has been managed in-hou...
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Oregon PERF places first investment in opportunistic portfolio
REAL ESTATE - The Oregon Public Employees Retirement Fund(OPERF)has made its first investment in its opportunistic portfolio that was created in 2005. The initial investment in this asset area was a $100m (€76.3m) commitment to the Fidelity ...
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CSAM UK property team defects to Aberdeen
UK – Glenn Newson, former head of UK property at Credit Suisse Asset Management (CSAM), has defected to Aberdeen Property Investors. He has taken six people from his team with him. Newson, who had left CSAM a few years back, joins Aberdeen ...
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Corio to issue €923m in notes to finance more retail projects
REAL ESTATE - Property investor and manager Corio is to issue €923m senior unsecured notes, to finance debt and pipeline projects. The issuance – in US dollars - will be made through a private placement to approximately 30 (institution...
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Ohio Police & Fire invests in Blackstone opportunity
REAL ESTATE - The Ohio Police & Fire Pension fund has invested $20m (€15.3m) into the Blackstone Real Estate Partners VI opportunity fund. The fund decided on this at recent board meeting, having been advised by real estate consultant, T...
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Moor Park buys 91 German and Dutch hotels from Accor
REAL ESTATE – Moor Park, a London-based real estate fund provider, has paid €863m to acquire 72 hotels in Germany and 19 in the Netherlands from French hotel chain Accor. Under the deal, Accor will rent the hotels, which fall under the...
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Alaska pension fund on point of infrastructure allocation
REAL ESTATE - The Alaska Permanent Fund(APF) will be making a formal allocation in the near future to infrastructure investments. The outcome at a recent fund board meeting was not to make a formal allocation at this time, though the move will b...
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Morgan Stanley clusters alternatives around real estate
REAL ESTATE - Morgan Stanley is to split its $45bn (€34bn) global real estate investment from banking operations – bucking a recent trend for investment banks to merge their operations. Morgan Stanley’s real estate will be house...
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CalSTRS makes $3.7bn RE commitments in last quarter of 2006
REAL ESTATE- The California State Teachers Retirement System(CalSTRS) made $3.7bn (€2.8bn) worth of commitments to real estate during the fourth quarter of 2006. Among these commitments were a $200m investment into Heitman Value Partners II ...
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ING bullish about global property fundamentals
REAL ESTATE - Global real estate fundamentals will remain healthy in most markets over the next 12 to 24 months, ING Real Estate predicted. "They will be supported by moderating but above-trend economic growth, improved earnings, and the con...
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Norwegian fund reveals property investment regions
REAL ESTATE – The Norwegian finance ministry has issued a tender for a company to draft a report on tax issues relating to investments in real estate and infrastructure in 32 markets outside Norway. The report, which is required by mid-June,...
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CalPERS narrows search for CalWest buyers
CalPERS narrows search for CalWest buyers REAL ESTATE – The $230bn (€175bn) California Public Employees Retirement System (CalPERS) has narrowed the list of candidates to buy the CalWest industrial portfolio. The four finalists are G...
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VastNed Group’s board still wants to merge funds
REAL ESTATE – Dutch property investor VastNed Group is still seeking its shareholders’ support for a merger of its investment funds Retail and Offices-Industrial, it said. "A combined fund is not only beneficiary to our listing, ...
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Habas acquires Zeeman’s family 12% stake in Nieuwe Steen
REAL ESTATE – A major shareholder of property investor Nieuwe Steen Investments has sold its 12% stake to Israel-based Habas Group, the company announced. NSI founder Jo Roelof Zeeman and family have sold their shares for €22.24 each, ...
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Dutch Homburg acquires Alexis Nihon after beating off Cominar
REAL ESTATE - Dutch real estate company Homburg has acquired Canadian real estate fund Alexis Nihon after a long-drawn bidding battle with competitor Cominar. Homburg increased its bid for Alexis Nihon after a friendly take-over bid offer from ...
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Invista posts positive post-HBOS flotation results
REAL ESTATE – UK property investment management firm Invista has posted £8.1m (€11.9m) profit before tax for four months’ trading since it demerged from HBOS in September. In a presentation to investors, Invista CEO Duncan ...
