More Top Stories – Page 1114
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Irish reserve fund on target for real estate
REAL ESTATE - Ireland’s National Pensions Reserve Fund (NPRF) invested €400m in real estate in 2005, according to its annual review. The fund expects to invest €500m in 2006, and €500m for each of the next three years. And ...
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CalPERS to hire managers for global REIT program
REAL ESTATE- California Public Employees Retirement System has sent out an RFP for managers for an international public real estate equity securities (PREES) investment program. The Sacramento-based fund has not established a specific amount for t...
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Aviva scheme buys Leeds office block
REAL ESTATE - Aviva’s pension fund has acquired an empty Leeds office block for around £11m (€15.8m). Morley, the financial services group’s asset management arm, completed the deal for the property – once owned by th...
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European real estate to get $100bn boost – S&P
REAL ESTATE – The introduction of UK and German retail estate investment trusts could boost result in $100bn in extra capital entering the market, says Standard & Poor’s. “The introduction of U.K. and German tax-efficient rea...
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Schemes put €1.44bn into real estate in quarter
REAL ESTATE - Pension funds poured more than £1bn (€1.44bn) into real estate in the first quarter of this year, according to industry data. Deal Flow, investment publishers MandateWire’s quarterly survey of investment activity, co...
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Hart to market its first commingled fund
REAL ESTATE - Hart Realty Advisers has begun the marketing process for its first commingled fund. The Hart Realty Fund, L.P. is slated to grow to $100m (€81.5m). It’s the first time in its 24-year history that the company has done t...
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DIFA buys 50% of London office project
REAL ESTATE – Germany’s Deutsche Immobilien Fonds AG (DIFA) has acquired 50% of a 250,000 square foot central London office complex for around £90m (€130m). The deal for “building 3” will kick off phase two of t...
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Clarion eyes self-storage
REAL ESTATE - Clarion Partners has plans to acquire $50m-$100m (€40.7m-€81.4m) in self-storage properties on an annual basis. This capital will be invested on behalf of a mixture of commingled funds and separate account pension fund clie...
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Pension schemes to raise allocation – ING
REAL ESTATE - Pension funds will hike their allocations to real estate over the next five years as they ditch the drive for returns in favour of “an approach based on managing assets and liabilities”, according to George Jautze, CEO of IN...
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Cerebus Deutschland ‘real estate head quits’
REAL ESTATE – The German arm of US private equity firm Cerebus has reportedly lost the head of its real estate business as well as five other employees from the unit. According to Germany’s Börsen-Zeitung, Ralf Winter, head of rea...
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Dutch SPF sets €150m in real estate target
REAL ESTATE - SPF Beheer, manager of the Dutch rail and public transport pension funds, has changed its investment strategy seriously. After the rather cautious investment approach towards real estate until 2005, the last year a more aggressive a...
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Colonia results reflect bullish German market
REAL ESTATE - German real estate firm Colonia exceeded its group-wide income targets by €4m, delivering €6.8m in 2005. As it announced the results, the firm said it would increase its guidance for the coming year “considerably”...
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Sacramento scheme commits to offices
REAL ESTATE – The Sacramento County Employees Retirement System has decided to invest all of its separate account capital into office buildings. The main reason for this is portfolio diversification. The fund’s chief investment office...
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NIBC nabs three for real estate
REAL ESTATE – Dutch banking group NIBC has hired three pension industry real estate people as it expands its real estate and infrastructure unit. It said the move was part of its strategy “to grow the investment management activities f...
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Germany’s €17.7bn BVV eyes real estate
REAL ESTATE - BVV, a €17.7bn pension fund serving Germany’s financial services industry, plans to raise its exposure to real estate to at most 8% over the long-term and is mulling an initial investment in private equity. As reported b...
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NJ to invest in two new commingled funds
REAL ESTATE- The New Jersey Division of Investment has committed a $75m investment into both the CPI Capital Partners Europe and to Walton Street Real Estate Fund V. The CPI Capital Partners Europe fund will be the pension fund’s initial inv...
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CalPERS’ real estate official McCook to retire
REAL ESTATE – Mike McCook, senior real estate investment officer at the $183bn (euro) California Public Employees’ Retirement Scheme, is to retire. An official at the Sacramento-based fund told IPE Real Estate that McCook is to retire ...
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Foreign investors eye South African market - IPD
REAL ESTATE - Potential returns from South African real estate are encouraging overseas investors despite the perceived risks, according to research firm International Property Databank (IPD). Stan Garrun, IPD South Africa managing director, said...
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ABP in French office tie with Grosvenor
REAL ESTATE – Stichting Pensioenfonds ABP, Europe’s largest pension fund, is to invest in French office real estate in a tie with the Duke of Westminster’s Grosvenor group. “We have not been active in the office market sinc...
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ABN Amro shortlists Bouwfonds buyers
REAL ESTATE - Bouwfonds, the ABN AMRO property fund put up for sale in December, announced last week that it had shortlisted would-be buyers as credit rating agency Moody’s confirmed it was holding the firm on review for possible downgrade. ...
