More Top Stories – Page 1107
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Deal digest
REAL ESTATE – A digest of the latest real estate deals involving: Scarborough, GE Real Estate, CBRE, Multi Development, RREEF, and Savills. Scarborough mops up German logistics Scarborough Continental Partners, a joint venture between Sc...
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Principal to invest in New York residential
REAL ESTATE - Principal Real Estate Investors has created a $300m (€239m) joint venture with The Dermot Company to invest in apartments in New York City. The equity in the deal is $100m, with the majority coming from Principal. The pension ...
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Van der Kooij joins Arlington for pension role
REAL ESTATE - Wim van der Kooij has joined Arlington’s Amsterdam office to co-manage a fund for Swedish pensions firm Alecta Pensionförsäkring. Van der Kooij, who used to manage the Dutch steelworkers’ pension fund, joins Ar...
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China considers further restrictions
REAL ESTATE - China’s concern that overseas buyers are causing an overheating of the country’s real estate market has resulted in further measures being considered to restrict foreign ownership. Local banks in Shanghai have already co...
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Hearthstone raises $600m
REAL ESTATE- Heathstone has raised $600m of equity for its latest commingled fund, Hearthstone Housing Partners III. This will be one of the largest single-family investment funds in the country. There will be up to 70% leveraged employed on th...
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Altera Vastgoed names two new directors
REAL ESTATE - Cyril van den Hoogen and Robert Eujen have been appointed as CFO and director of portfolio management respectively at Altera Vastgoed, the real estate fund has announced. Both have been working for the private fund for pension scheme...
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Ohio fund approves real estate investment plan
REAL ESTATE - The School Employees Retirement System of Ohio has approved its annual real estate investment plan for fiscal 2007 at its board meeting in late June. One of its new investment strategies for the next 12 months will be to consider inv...
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Blue Sky makes real estate appointments
NETHERLANDS - Blue Sky Group, the Dutch pension fund manager which runs the KLM pension fund, has made several real estate appointments. It named Raymond Satumalaij as fund manager, real estate. Satumalaij takes over from Jan van der Pol, who reti...
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Pitfalls seen in student housing asset class
REAL ESTATE – There’s been a warning over the possible pitfalls of student accommodation as an asset class from a partner at real estate consulting firm Knight Frank. Speaking at a conference in London recently – ‘REITs: An...
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London pension funds shun Olympic Village plan
REAL ESTATE - Cash to spend and an eye for the long term make pension funds the ideal investment partners to build the UK’s 2012 Olympic village, according to its real estate advisers – yet pension funds approached by IPE Real Estate indi...
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Annington bank consortium securitises €5.4bn in loans
Germany – Banks that have financed German property acquisitions by UK private equity firm Terra Firma are to sell €5.4bn worth of bonds backed by those properties in Germany’s biggest commercial mortgage backed securities transactio...
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Indian and China expansion for Emaar
Emaar Properties is stepping up its development plan for the Asian region. According to Shravan Gupta, MD of the Indian joint venture Emaar MGF Land, the Dubai-based group is planning to build on the already substantial investments it has made outsid...
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Pramerica sets up a joint venture to buy large senior housing complex
US - Pramerica Real Estate Investors (PREI) has put together a joint venture with American Retirement Corporation to acquire the Freedom Village senior housing property in Bradenton, Florida. The total size of the transaction was US$95m (€74...
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Apollo raises US$700m of equity for new commingled fund
US - Apollo Real Estate Advisors has raised US$700m (€546.6m) of equity for its latest commingled fund, Apollo Real Estate Investment Fund V. This is US$200m more than it had originally targeted when the money raising was started. One perso...
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Cordares Vastgoed to focus on indirect real estate
Cordares Vastgoed, the real estate branch of pensions manager and income insurer Cordares, is repositioning itself in the market, with a focus on indirect real estate, it said. “We are changing into a lean and mean organisation, which will c...
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Danish insurer sells up, moves to London
PFA Pension, Denmark’s largest insurer, has agreed to sell its residential portfolio for an undisclosed figure to a consortium of Danish real estate firm CenterPlan and Deutsche Bank’s RREEF. The divested portfolio comprises 43 pr...
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Hermes retail boss joins CBRE
Andrew Martin is to join CB Richard Ellis’s investment committee after he retires as Hermes’ retail group director next month. In his new non-executive role – which he takes over from James Hysop, who is retiring – Martin ...
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Pension funds to exploit sustained Nordic growth
European pension funds will be the primary investors in a pan-Nordic real estate SICAV to be launched by Aberdeen in the next few weeks. Philip Ingman, managing director of Strutt & Parker Real Estate Finance Services (SPREFS), which is advis...
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Benson Eliot steps up recruitment
Benson Eliot Capital Management, the private equity real estate firm, has appointed two partners aimed at boosting its team ready for an acquisition spree at the end of the summer. Philip Irons, former head of direct property transactions at Schr...
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Warner-Smith joins Invesco to manage UK assets, hotels
Quentin Warner-Smith has joined Invesco as a senior asset manager on the firm’s Property Income Trust (IPIT). In his new role, Warner-Smith will develop and implement strategies for the fund, which has around 50 investments in industrial (i...
