More Top Stories – Page 1091
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Rodamco in four-for-one share split move
REAL ESTATE - Property investor and manager Rodamco Europe proposes to split its shares to increase its liquidity and accessibility. At its next annual general meeting, the company will ask shareholders to agree to a split in the ratio of 4 new sh...
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Swiss pension fund sells 23 properties to Avadis and mandates Arlington
REAL ESTATE – BLPK, a CHF5bn (€3.1bn) Swiss pension fund, has sold 23 properties worth CHF221m to asset manager Avadis to diversify its real estate portfolio. BLPK said that as part of its deal with Avadis, it had obtained a shareholdi...
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Institutions could miss out on slice of €1bn ‘gherkin’
REAL ESTATE - Reinsurance firm Swiss Re has sold its landmark London headquarters in St Mary Axe to – known to Londoners as The Gherkin – to German property firm IVG for £630m (€950m). IVG acquired the building for one of i...
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M&S plugs pension deficit with real estate
REAL ESTATE - UK retailer Marks & Spencer is to plug a £704m (€1.07bn) hole in its pension fund via a property partnership that will see the retailer sell and lease back its £1.1bn property portfolio.
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US retirement fund to invest in more international funds
REAL ESTATE - San Bernardino County Employees Retirement Association will be looking to invest more capital into commingled real estate funds that pursue an international real estate strategy. Don Pierce, who is the investment officer for the pens...
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Prupim purchases €123m Scottish centre for M&G
REAL ESTATE - Prudential Property Investments (Prupim) has purchased the Wellgate Shopping Centre in Dundee from HBG Properties, it announced. The €123m transaction was on behalf of the M&G Property Portfolio, it said. The retail cent…
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UK ports report by MPs slams foreign investors
REAL ESTATE – A UK parliamentary committee has urged government caution over attempts by foreign investors to acquire British ports. The recommendation would have blocked Borealis, a subsidiary of Canadian pension fund Ontario Municipal Emp...
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New Jersey fund to invest $100m with Blackstone
REAL ESTATE - The New Jersey Division of Investment has approved a $100m(€77m) commitment into the Blackstone Real Estate Partners VI. The pension fund approved this investment at its board meeting on January 18. The pension fund will put t...
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ING facilitates €260m credit for London City office
REAL ESTATE - ING Real Estate Finance has completed a €260m credit facility for the acquisition of 88 Wood Street, London EC2 by a co-investment partnership, it said. The transaction involved the largest asset purchase by ING in the UK so f...
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German corporates to sell real estate to create REITs
REAL ESTATE – Over a quarter (27%) of quoted German corporates had concrete plans to sell their property holdings to create real estate investment trusts (REITs), according to a study by German real estate fund firm DEGI. Legalisation of Ger...
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Mars pension fund sells off Nottingham office
REAL ESTATE - Mars Pension Trustees have sold off a four-story Nottingham office block to fund managers Warner Estate Holdings and Morley Fund Management for €23.2m. A spokesman for the UK pension fund declined to comment on the reasons for...
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Ohio Police & Fire issues RFP for independent fiduciary
REAL ESTATE - The Ohio Police & Fire Pension Fund has issued a request for proposal (RFP) for an independent fiduciary to evaluate a portion of its real estate portfolio. The responses are due to the pension fund on or before 3:00 PM eastern tim...
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Nieuwe Steen mulls cooperation with Israeli player
REAL ESTATE - Dutch real estate development company Nieuwe Steen Investments (NSI) has entered exploratory talks on cooperation with Israel-based property developer Habas HZ Investments, it announced. At Habas’ request, NSI is investigating ...
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Macquarie opens in Frankfurt and Paris to boost continental real estate
REAL ESTATE – The real estate fund arm of Australian investment bank Macquarie has this month opened offices in Frankfurt and Paris to step up its investments on the European continent. "We see great potential for both office and logis...
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Great Point to expand into US commingled fund business
REAL ESTATE – In the US, Great Point Investors will be expanding into the commingled fund real estate business for the first time with its Great Point Value Fund. Principal Gary Schwandt said, "It’s our opinion that most pension ...
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Dutch investor ups allocation with UK retail
REAL ESTATE – Netherlands-based TKP Pensioen, a subsidiary of Aegon, last week announced that it had invested €52m in Standard Life’s €2.8bn UK shopping centre fund. The Dutch pension fund manager said the move w as part ...
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Morgan Stanley sets up senior housing JV
REAL ESTATE - Morgan Stanley Real Estate has created a senior housing joint venture with National Health Care Properties. Dave Hardman is head of US real estate investing for Morgan Stanley. He said, "We feel good about doing business with ...
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S&P launches global property index for ‘liquidity and tradability’
REAL ESTATE – Index provider S&P has launched the Global Property 40 Index to provide exposure to 40 leading companies in the global real estate markets. The index is made up of large, well traded, liquid companies from North America, Eu...
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BBC’s industrial sale not indicating strategy shift
REAL ESTATE - The BBC’s pension fund in the UK has denied that last week’s sale of 60,000 square foot of real estate on a northeast English industrial estate reflected a tactical move away from industrial as an asset sub-class.
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UBS replaces O’Keefe by Marcuse hire
REAL ESTATE - UBS has appointed AXA Real Estate Investment Managers CEO Paul Marcuse to head its asset management arm’s global real estate business. Marcuse, who will also join the asset management firm’s executive committee, replaces Jam...
