More Top Stories – Page 1094
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Germany’s NAEV ups real estate exposure
REAL ESTATE – Germany’s NAEV, a €7.75bn medical pension fund, will expand investments in real estate investment trusts (REITs) and other real estate securities over the next three years, says Hermann Aukamp, NAEV’s director of...
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CalSTRS commits $100m to emerging manager fund
REAL ESTATE - The California State Teachers Retirement System has made a $100mn commitment to the Scout Fund that is being managed by Hawkeye Partners. This commingled fund will look to sign up between six to eight emerging managers for the fund....
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Belgium in €500m real estate sell-off
REAL ESTATE – The Belgian federal state is selling off government property, among which some historic buildings, to balance this year’s budget showing a €500m gap. In a notice of sale the Belgian Federal State today announced tha...
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CalPERS finalises office building venture
REAL STATE - The California Public Employees Retirement System has finalised plans for a new office building investment partnership. It’s called Fifth Street Properties II, LLC. The venture has a total of $2bn of capital available to invest...
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Sharia’a compliant real estate fund launched
REAL ESTATE – A new Sharia’a-compliant real estate fund has been launched by the European Islamic Investment Bank. Knight Frank Investment Management will source real estate deals on behalf of the EIIB Pan-European Islamic Real Estate...
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San Francisco City & County places $100m
REAL ESTATE - The San Francisco City and County Employees’ Retirement System has approved new real estate investments of $100m with Capmark Investments, L.P. This action was taken by the pension fund at its board meeting last month. It was ...
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Institutions must embed SRI for real estate – UN
REAL ESTATE – The United Nations has called for real estate investors to consider the environment when they make portfolio decisions. The UN’s Environment Programme Finance Initiative has launched a working group on responsible propert...
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ABP scales down stake in real estate group
REAL ESTATE - The €201bn civil service pension fund ABP has decreased its majority stake in real estate group Vesteda to 46.7%, Vesteda said. During five transactions, ABP has sold 13.4% of equity, worth €450m in total. The amount was ...
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German insurer Gerling in residential sell-off
REAL ESTATE – German life insurance group HDI Gerling has sold more than 2,600 residential units to Patrizia Immobilien for around €300m. Patrizia said it bought the portfolio – comprising 2,737 residential and commercial units &...
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LA County fund to look at international
REAL ESTATE - The Los Angeles County Employees Retirement Association will be looking at making some international real estate investments over the next 12 months. Its Principal Investment Officer for Real Estate John McClelland said, "We wi...
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New real estate investment bank launched
REAL ESTATE – A new real estate investment bank has been launched by former executives at HSBC and Jones Lang Lasalle. "We announce the establishment of Lowndes Partners, LLP an independent investment bank specialising in financial adv...
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Shropshire fund moves out of UK property
REAL ESTATE - Shropshire County Council pension fund is seeking an investment manager for a £43m (€63.7m) pan-European real estate portfolio. The move reflects a wider trend for UK pension funds to move out of the domestic real estate ...
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GE scheme sets up California industrial venture
REAL ESTATE - The General Electric Pension Trust has put together a new $55m joint venture with Master Development Corporation to invest in industrial properties in Southern California. GE put in $50m, with the balance coming from Master Developme...
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Newham fund diverts into infrastructure
REAL ESTATE - The London Borough of Newham pension fund is to invest £30m (€45m) in infrastructure. The investment, which follows a strategic review and is the fund’s first in infrastructure, reflects a desire to influence the beta a...
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CSAM buys Amsterdam office complex
REAL ESTATE – Credit Suisse Asset Management (CSAM) has bought an Amsterdam office complex for €174m (£117.27m) from ING Real Estate, which had the building on a long-term lease. ING announced Credit Suisse has bought the complex ...
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USS buys into Bulgarian real estate developer
REAL ESTATE – The £26bn (€38.5bn) Universities Superannuation Scheme, the pension fund for university staff, has made a move to increase it Eastern European real estate holdings. In an announcement Bulgarian Land Development Plc, ...
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Jones Lang LaSalle opens in Dusseldorf
REAL ESTATE – Jones Lang LaSalle, the US real estate broker and asset manager, says that from January 1, it is creating a new German asset management services unit based in Düsseldorf. JLL said that to lead the unit, it had recruited Hi...
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Ohio School scheme commits to retail fund
REAL ESTATE - The School Employees Retirement System of Ohio has approved up to a $50m commitment into the Retail Enhancement Fund. The fund took this action at its board meeting in mid November. This is a commingled fund that is managed by M...
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US, Dutch, Irish schemes buy in Stockholm
REAL ESTATE - Pramerica, Prudential's European investment management subsidiary, is to invest $65m in a venture to acquire Swedish residential on behalf of unnamed US institutional investors and Irish and Dutch pension funds. The firm said it wou...
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SEB offers Baltic portfolio to pension funds
REAL ESTATE - Swedish bank SEB is to sell off its Baltic real estate portfolio – probably to a pension fund – as part of its bid to get out of property. Anders Arozin, deputy head of SEB’s Eastern European banking operations, sa...
