More Top Stories – Page 1088
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State of Wisconsin spreads $265m spread across US investments
REAL ESTATE – The State of Wisconsin Investment Board has made real estate investments totalling $265m (€200.5m) in three separate events. The most recent of these investments was a $75m commitment to the Cornerstone Apartment Ventures...
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Property derivatives set for major euro expansion
REAL ESTATE – Data published last week by IPD showed trading in UK commercial property derivatives totalled £3.57bn (€5.2bn) in 2006 – a 300% increase over the previous two years. Iain Reid, Protego Real Estate Investors CE...
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ING Clarion in US medical office buildings joint venture
REAL ESTATE – The US-based ING Clarion Partners has setup an investment joint venture for the first time involving office buildings with Montecito Medical Investment Company. This venture represents another example of ING Clarion looking at ...
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Wereldhave eyes expansion to east and west
REAL ESTATE – Property investor and manager Wereldhave is considering expansion into new markets, such as San Diego area on the US west coast and Turkey. "We will continue to renew our investments in conformity with our clients’ ...
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Washington State adds $1.3bn to wide-ranging real estate
REAL ESTATE - Washington State Investment Board has approved new real estate commitments totaling as much as $1.3bn (€983.6m). The pension fund allocated up to $750m for an investment into GMS International, LLC, run by real estate manager...
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Corio acquires provincial retail centre in Turkey
Real Estate - Property developer and manager Corio has signed an agreement for the acquisition of a €49m retail centre under development in Turkey, the firm announced. The complex – AdaCenter, in the provincial capital Adapazari ?...
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Orange County Employees to invest in REITs and timber
REAL ESTATE – Orange County Employees Retirement System has approved new capital for real estate searches to invest in global real estate securities and timber assets. It was advised by its consultant, Callan Associates. At a recent board m...
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ING sells office and retail elements of Prague project
REAL ESTATE – ING Real Estate Development has sold the office and retail section of the A7 Arena Holesovice project in Prague. The €37m sale - 15,500m2 of gross lettable area and 200 parking spaces - was made to FHA Czech, a subsidiary...
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Illinois Teachers to invest $300m in US and European real estate
REAL ESTATE – The Teachers’ Retirement System of the State of Illinois has taken action to invest $300m (€226.9m) into new real estate investments. Two of these investments involve committing capital to office buildings, one of …
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Infrastructure boss takes over at Canada’s OMERS
REAL ESTATE – The CA$48bn (€31bn) Ontario Municipal Employees Retirement Scheme (OMERS) has appointed Michael Nobrega, the current head of its infrastructure subsidiary, as its new CEO. Michael Rolland, currently senior vice president...
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ABP, Keva in property private equity move
REAL ESTATE – Finnish local government pension fund Keva and ABP, Europe’s largest pension fund, were among eight initial investors in a pan-European real estate private equity fund launched last week by Spanish property group Neinver....
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Corestate in Zurich recruits Schulte Eistrup from Morgan Stanley
REAL ESTATE – Corestate Capital, a new Zurich-based real estate asset manager, has hired Christian Schulte Eistrup as managing director with responsibility for capital raising and investor relations. The appointment is with immediate effect....
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Shorenstein to buy portion of former EOP portfolio
REAL ESTATE – Shorenstein Properties LLC is working on a transaction that involves acquiring all of the Portland, Oregon, office building assets of the former Equity Office Properties Trust (EOP) portfolio. The properties are now owned by Bl...
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Penwood to consider next commingled fund
REAL ESTATE – Penwood Real Estate Investment Management is looking to start raising money for its next commingled fund. Principal John Hurley said, "We are now at the point in investing in California Select Industrial Partners…We...
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Fidelity launches Asia Pacific property fund
REAL ESTATE – Fidelity International has launched an Asia Pacific property fund, which will invest in real estate companies in both developed and emerging markets in the region, it has announced. "The fund will allow investors to benef...
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More US pension fund capital headed to foreign investment funds
REAL ESTATE – Additional pension fund capital in the United States is being invested in commingled funds with a foreign investment strategy. Two of the most recent examples of this are with Los Angeles County Employees Retirement Association (L...
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Deka to invest more outside Germany
REAL ESTATE – Germany’s Deka says its real estate funds for institutional investors plan to invest €550m in new properties over the near term, with €250m going to German objects and €300m to those outside of Germany....
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Threadneedle FoF ‘meets European demand’
REAL ESTATE – Threadneedle is to launch a pooled property fund of funds in response to demand for diversified European exposure from UK and continental European pension funds, the fund manager announced last week. The Luxembourg-listed SICA...
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Pennsylvania State fund expands opportunity commitments
REAL ESTATE – Pennsylvania State Employees Retirement System is expanding its commitments to placing capital in opportunity real estate funds. The pension fund will be interviewing Angelo Gordon & Co. at its March board meeting for a pos...
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Corio acquires 49% of Italian retail centre
REAL ESTATE – Property owner and manager Corio has reached an agreement on the acquisition of a 49% stake in retail centre Citta Fiera in Udine, Italy, paying €87m. The centre comprises 70,800 square metres of gross lettable area in to...
