More Top Stories – Page 1111
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Deka sells three properties for €690m
REAL ESTATE – DekaBank, a major German provider of open-ended property funds, has sold three commercial properties from its core German fund for €690m as part of an ongoing restructuring of the fund. DekaBank began the restructuring of...
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NY Teachers in €77m Texas retail venture
REAL ESTATE - The New York State Teachers Retirement System has put together a $100m (€77.2m) joint venture with Inland Real Estate Corp. to invest in retail properties in Texas. The fund was the driving force behind the venture as it had a ...
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AMF Pension still on real estate buy-side
REAL ESTATE - Swedish pensions manager AMF has sold its Stockholm Wenner-Gren complex to property company Fabege for €68m – but says it remains on the “buy side” in the sector. Mats Hederos, head of real estate at the Swed...
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IPE Real Estate Conference Report
REAL ESTATE - The second annual IPE Real Estate Conference – held alongside the magazine’s inaugural Awards Gala – drew a heavyweight collection of pension fund investors and consultants to the Amsterdam Hilton last week. Confer...
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IPE Real Estate Awards: the winners
REAL ESTATE - Pension funds’ adoption of new models for new markets paid off at the IPE Real Estate Awards last night as investors collected prizes for geographical diversification and the move into indirect investment. The awards, announce...
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Dutch rail fund questions real estate boom
NETHERLANDS - Dutch pension funds will ditch bricks for funds, according to Peter van Gool, deputy director of real estate at Dutch pension fund SPF Beheer. Describing recent market performance as “unsustainable”, he told the IPE Real ...
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Share issue funds warehouse acquisition
REAL ESTATE - Macquarie Goodman, the Australian investment trust, last week issued $264m in shares to institutional investors to part-pay for its €352m acquisition of Luxembourg-based warehouse developer Eurinpro. The 8.8% Macquarie-owned t...
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Quinlan leads Spain’s largest property deal
REAL ESTATE - Irish property group Quinlan Private last week announced that it had led a group of unnamed investors in the acquisition of a Barcelona shopping centre from Deka, the German open-ended fund. A spokesman for Quinlan would not disclos...
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Pramerica creates first venture with ProLogis
REAL ESTATE- Pramerica Real Estate Investors has established a joint venture for the first time with ProLogis to develop industrial properties near Denver in Colorado. Pramerica made a $40m (€31m) investment in the venture, which gets the pe...
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US REITS fall as interest rate fears rise
REAL ESTATE - The value of US Real Estate Investment Trusts tumbled last week amid a fall in equity share prices across global markets and investors’ anticipation of an interest rate rise. In a commentary, Royal Institution of Chartered Surv...
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Pennsylvania to invest in real estate finance firm
REAL ESTATE – The Pennsylvania Public School Employees Retirement System has chosen to invest up to $150m (€116m) into a new real estate finance company being created by Apollo Real Estate Advisors. The name of the new company is Apoll...
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London & Capital restructures, plans new funds
REAL ESTATE - Boutique investment firm London & Capital will boost its real estate investment team under a new head of real estate funds. The appointments come as part of a restructuring effort that will see Iain Keys assume overall responsibi...
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AEW raises €532m from schemes, endowments
REAL ESTATE- AEW Capital Management has closed its money raising for its latest commingled fund, AEW Partners V. It attracted equity capital from both pension funds and endowments totaling $686m (€532m). AEW portfolio manager Mark David...
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Credit Suisse real estate arm gets new MD
REAL ESTATE - Beat Schwab is to replace Alois Weibel as managing director of Credit Suisse’s Swiss real estate services arm Wincasa. Weibel is to retire from January 1 next year, the firm said in a release. The firm employs around 300 peo...
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LaSalle's Ryall joins Gellatly at MLIM
REAL ESTATE - Merrill Lynch Investment Managers has hired LaSalle Investment Management's Matthew Ryall. MLIM said Ryall would be a director in its real estate research and strategy team - "with particular responsibility as fund manager for t...
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Pramerica signs agreement for retail venture
REAL ESTATE - Pramerica Real Estate Investors has signed a contract to form a joint venture with Cousins Properties to invest in retail properties. The deal – involving five Cousins properties - could be approved by the end of the month. ...
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Morgan Stanley cuts forecast, boosts Euro team
REAL ESTATE - Morgan Stanley analysts last week forecast a 10% fall in the value of European real estate to the end of 2007 – as the bank’s investment management arm boosted its real estate team with two new senior managers. Concern o...
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€50bn German REITs market seen
REAL ESTATE – German Real Estate Investment Trusts (REITs) will bring huge benefits for Frankfurt’s financial centre – including creating a new €50bn property market that would put it on par with London and ahead of Paris, a n...
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Prudential opens Asia real estate office
REAL ESTATE - Prudential is to open an Asia-Pacific regional office in Singapore. The new office – a joint venture between Prudential Property Investment Managers, the UK real estate business, and fund management firm Prudential Corporation ...
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Cazenove says investors hail new trade platform
REAL ESTATE - Cazenove says most investors have welcomed the new real estate trading facility it has launched along with Morley Fund Management and DTZ. Morley last week unveiled a UK "trading facility" for its own unlisted real estate f...
