More Top Stories – Page 1089
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SLI abandons caution on Germany
REAL ESTATE – Standard Life Investments has abandoned its long-held caution over the sustainability of Germany’s nascent economic recovery and has made its first investments in the market. The fund manager announced last week that it had ...
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Habas refrains from Nieuwe Steen offer
REAL ESTATE – Israeli property investor Habas HZ Investments will not make a public offer for a stake in the Netherlands based Nieuwe Steen Investments, the Dutch firm has said. At Habas’ request, NSI was investigating a possible strat...
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CalPERS invests $155m in opportunity investments
REAL ESTATE – California Public Employees Retirement System has approved two opportunistic real estate investments totaling $155m (€118m). One of these investments was $80m that was placed into the Fortress Holiday transaction. This i...
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Hermes sells upmarket retail
REAL ESTATE – Hermes, the UK asset manager owned by the BT Pension Scheme, is to sell its 50% stake in the Glaswegian specialist shopping centre Princes Square. The asking price for the centre, which is co-owned by the insurer Clerical Medi...
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Unlisted UK real estate returned 69%in 2006
REAL ESTATE - Unlisted UK real estate funds returned 69% last year, driven by the outperformance of the City and West End, according to the Association of Real Estate Funds (AREF). The association’s newly launched quarterly report claims th...
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DivcoWest buys property in Texas
REAL ESTATE - DivcoWest has closed on the purchase of an office building in Austin, Texas. The real estate fund manager paid $49m (€37.3m) for the Parmer Business Park in Austin. The property was acquired from pension fund manager RREEF....
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Welsh scheme to invest €19m in unlisted property
REAL ESTATE – Welsh local authority Powys County Council is tendering for a multi-manager to handle £13m (€19m) of European (ex. UK) unlisted real estate for its pension fund. An investment panel of five local councillors will ap...
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RREEF in new joint venture for US apartment deals
REAL ESTATE – Major manager RREEF has formed a joint venture with Bainbridge Capital, LLC to invest in apartment complexes in certain markets across the US. There is no set amount of capital that has been allocated to the venture. Transacti...
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IVG issuing €400m of convertible bonds for growth purposes
REAL ESTATE – German real estate firm IVG says it has issued €400m worth of convertible bonds for the purpose of financing future growth and large acquisitions. IVG sold the convertibles last week to primarily European institutional in...
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SoCal office of ING Clarion to focus on value-added deals
REAL ESTATE - The Southern California office of ING Clarion Partners will be focusing on more value-added investments for 2007. Managing director Richard Pink said: "Our investment plan for this year is to emphasise more value-added kind of ...
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No slowdown in real estate transactions in Europe’s €6trn market
REAL ESTATE - A study of European portfolio transactions claims new supply and niche portfolios will drive continued investment in the real estate sector. The report, published last week by Sireo Research and the Centre for European Economic Res...
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Mass PRIM approves value-added strategy with $300m commitment
REAL ESTATE - Massachusetts Pension Reserves Investment Management Board(Mass PRIM) has approved a new value-added investment policy for its real estate portfolio. The pension fund took this action at its board meeting earlier this month. It was as...
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Swiss Partners Groups acquires PCA in US
REAL ESTATE - Swiss alternatives asset manager Partners Group said it had acquired the private real estate investment arm of US-based Pension Consulting Alliance (PCA). Financial details were not disclosed. Partners Group said that as a result of ...
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German pension scheme sells off Hamburg residential
REAL ESTATE - An unnamed north German pension fund has sold a 55-unit residential portfolio in Hamburg to property firm Hanseati for €4m. The ageing portfolio of 55 housing units and 28 parking bays is located in Alsterdorf-Winterhude. The ...
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Los Angeles Fire & Police adds commingled fund activity
REAL ESTATE - The Los Angeles Fire & Police Pension System is expanding its activity in investing in commingled funds. The pension fund is looking at placing $90m(€68.5m) into three funds. One of these commitments has already been appro...
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Sweden’s Alecta buys Dutch distributon centre
REAL ESTATE – The €44bn Swedish occupational pensions mutual Alecta has bought a Dutch, Venlo-based distribution centre for nearly €11m. Real estate investment company Arlington, which has bought the complex for Alecta, said that...
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APK fund invests CHF50m in Swiss housing projects
REAL ESTATE – Aargauische Pensionskasse (APK), a CHF5.5bn (€3.4bn) pension fund for Swiss civil servants, has invested CHF50m in two separate housing projects in the city of Aarau. The projects, which include 65 new flats for the elde...
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Kardan targets China in major expansion drive
REAL ESTATE – Dutch real estate group Kardan will invest $55m (€42.4m) has reported that its subsidiary GTC RE Real Estate will be developing a housing project in Shenyang, a city in the north of China. This will be the fourth real esta...
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RREEF joins with Epiphany for luxury residential club venture
REAL ESTATE – Property firm RREEF has formed an equity joint venture with Epiphany Capital Partners that will invest in the luxury residential club industry. RREEF had been looking for some time at investing in the residential club business....
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San Diego County approves investment in apartment commingled fund
REAL ESTATE - San Diego County Employees Retirement System has allocated a $25m(€19m) commitment into the Cornerstone Apartment Ventures III, LLC. The pension fund took this action on its real estate portfolio at its board meeting earlier ...
