More Top Stories – Page 1112
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Rodamco’s direct investment returns 11.4%
REAL ESTATE - The direct investment returns on real estate of Rodamco Europe have risen by 11.4% to €93.7m during the first quarter, it announced. Its triple net asset value per share increased by 5.9% to €64.02. Rodamco’s indire...
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German investors hint at more acquisitions
REAL ESTATE - Eurocastle, the largest listed owner of German commercial real estate, has hinted at imminent acquisitions in its new annual report. The offshore company, which is managed by US investment firm Fortress, said it was looking at R...
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Texas Teachers invests $400m
REAL ESTATE - The $100bn (€77.8bn) Teacher Retirement System of Texas has decided to place $400m of its real estate allocation into three commingled funds. The Austin-based fund chose to invest into two opportunity funds. It has made a ...
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Schroders scheme ups property allocation
REAL ESTATE - Schroders has shifted its £500m (€733m) pension fund towards UK commercial real estate – with investment head Alan Brown slamming the “transparently wrong” assumptions underpinning asset/liability modelling....
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Morley launches real estate trading facility
REAL ESTATE - Morley Fund Management has unveiled a UK “trading facility” for its own unlisted real estate funds. It said the move had been driven by “considerable investor demand” from institutions throughout Europe. T...
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Savills Spanish chief jumps to Jones Lang Lasalle
REAL ESTATE - Savills says it is unlikely to replace Marcus Lemli when the director of Spanish investment leaves later this year.
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Morley adds three amid inflows
REAL ESTATE - Morley Fund Managers has hired three new fund managers for its life UK real estate team. Barry Hill, Justin Brand and Henry Richardson replace three fund managers promoted internally. Hill, who joins from Arlington Property Inv...
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Merrill nabs two for European real estate
REAL ESTATE - Merrill Lynch has poached two Citibank staff for its real estate arm in Europe, the Middle East and Africa (EMEA). Incoming managing director Joe Pedlow will expand the bank’s London-based commercial real estate financing team...
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European fund tenders $100m+ in real estate
REAL ESTATE – A continental European corporate pension fund has tendered substantially excess of $100m (€78m) in indirect global real estate via IPE-Quest. The search (QN624) states the investor has no preferred benchmark (although the...
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BPF Bouwinvest caught up in Strasbourg row
REAL ESTATE - BPF Bouwinvest, the real estate arm of Dutch pension fund BPF Bouw, has become embroiled in a row between the European Parliament and its host city Strasbourg. Dutch MEP Edith Mastenbroek has been quoted as saying the “current...
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Pennsylvania fund in govt leasing move
REAL ESTATE- The Pennsylvania State Employees Retirement System has setup an investment program to invest in properties leased to the federal government. The fund has agreed to invest $30m of equity into the Oxford Development Fund I. This is a ...
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ABP involved in €484m hotels deal
REAL ESTATE – Stichting Pensioenfonds ABP, Europe’s largest pension fund, is among a group that has bought four European hotels in a deal that will eventually be worth around $621m (€484m). The giant civil service fund, along wit...
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Germany’s BVV steps up international real estate
REAL ESTATE – BVV, a €17.7bn pension fund for Germany’s financial services industry, has stepped up its investments in international property funds to compensate for continued weakness in the domestic real estate market. In its a...
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Nominations due for IPE Real Estate Awards
REAL ESTATE - The IPE Real Estate Investor Forum and Awards 2006 are taking place at the Amsterdam Hilton on June 1 – and now’s your chance to make your nominations. “The awards are the first event to honour investors and servic...
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SNS Reaal raises €1.3bn from institutions, retail
REAL ESTATE - Dutch bancassurance firm SNS Reaal is to raise €1.3bn in an initial public offering aimed at institutional and retail investors. Former sole shareholder Stichting Beheer SNS Reaal, which supported the Euronext flotation, will ...
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IPD unveils new UK quarterly index
REAL ESTATE – IPD, the global independent research company, has released its first quarterly index report for the UK property market. The new index reflects the performance of more than 7,000 properties valued at close to £100bn (€...
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University of California activates €1.9bn plan
REAL ESTATE - The University of California has decided to activate its real estate investment program for two of its investment entities. It has $2.5bn (€1.9bn) available to invest in real estate, representing a 5% allocation to the asset cl...
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New Jersey puts $150m into real estate
REAL ESTATE- The New Jersey Division of Investment has placed a total investment of $150m (€117.9m) into two commingled funds. The largest of the two investments was a $100m commitment into the RREEF Global Opportunities Fund II. This close...
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S&P unveils nine new real estate indices
REAL ESTATE - Standard & Poor’s has launched nine new Property and REIT Peer Indices - designed to give a more accurate reflection of global property and REIT investment trends. The launch coincides with S&P’s seventh annual GI...
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Latest Hong Kong REIT hits the road
REAL ESTATE - This week the roadshow for the latest Hong Kong REIT initial public offering hits Europe and the US. The Champion REIT from Great Eagle Holdings plans to offer a yield of between 4.85% and 5.5% in the planned $900m offering. Loca...
