More Top Stories – Page 1116
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Ohio fund commits to mezzanine
REAL ESTATE- The School Employees Retirement System of Ohio has made a $30m (€24.9m) investment into the Fillmore East Fund. This decision was made by the pension fund at its board meeting in the middle of March. This investment falls in li...
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Investors shun Norwegian military land sale
REAL ESTATE – The Norwegian ministry of defence is inviting tenders for the valuation of land and buildings across Norway amounting to 1.5m sq m – but investors are wary. The assets include offices, forest storage facilities, shoreline...
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KarstadtQuelle sells real estate for pensions
REAL ESTATE – The external pension fund of KarstadtQuelle, Germany’s second-largest retailer, will receive part of the €4.5bn in proceeds from the retailer’s sale of its German warehouse portfolio. KarstadtQuelle announced...
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Belgian pension funds get real estate kick
REAL ESTATE – Belgian pension funds’ real estate holdings returned 22.9% in 2005, according to Mercer Human Resource Consulting. “In contrast to the nineties when real estate investments performed poorly, in 2005 they achieved an...
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Institutions global net sellers in 2005 – JLL
REAL ESTATE – Institutional investors were net sellers of global real estate in 2005, according to Jones Lang Lasalle.
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IVG leases Brussels plaza to EU
REAL ESTATE - IVG Immobilien has leased its Brussels Madou Plaza building to the European Union under a 27-year lease. The parties have signed an agreement not to disclose details of the contract. More than 1,200 civil servants from the EU, the Eu...
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Europe commercial investment up 40% - CBRE
REAL ESTATE – Direct investment in Europe’s commercial property market rose 40% in 2005 to hit a new record of €141.7bn, a new study by US real estate broker CB Richard Ellis shows. Of the €141.7bn invested directly in comm...
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MIPIM: deals getting done behind the glitz
REAL ESTATE – Behind the glitz of the recent MIPIM annual real estate industry event in Cannes, there were global real estate asset managers imbued with renewed zeal to pursue relationships and deals with investors and suppliers. Talk of MI...
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PREA meeting: let’s talk emerging markets
REAL ESTATE - Emerging markets was the talk of the town at the Pension Real Estate Association Conference in San Francisco on March 8 and 9. This idea was spelled out to all of the 480 attendees at the conference on countless occasions. One of the…
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CBRE loses German chief Piñol
REAL ESTATE - CB Richard Ellis’s Germany managing director and investment advisory services director Guido Piñol is to join Fortress Investment’s German operations as managing director next month. Piñol will head Fortress...
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Three new real estate indices launched
REAL ESTATE – Three new real estate indices have just been launched by Dow Jones’ Stoxx affiliate. Zurich-based Stoxx said the measures are the Dow Jones STOXX 600 Real Estate Index, the Dow Jones STOXX Americas 600 Real Estate Index a...
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Oregon looks at new opportunity funds, REITS
REAL ESTATE- The Oregon Public Employees Retirement Fund has allocated $225m to invest in two opportunity funds and will be pursuing a global REIT strategy later this year. The fund has approved a $100m investment into the IL&FS India Realty F...
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UCITS door ajar for open-ended funds
REAL ESTATE - The European Parliament’s Committee on Economic and Monetary Affairs has called for a pan-European investment framework for open-ended real estate funds. The move follows a report issued by the Committee of European Securities ...
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New Jersey to invest $1.6bn in two years
REAL ESTATE - The New Jersey Division of Investment has allocated $1.6bn (€1.3bn) to be invested in real estate over the next two years – that’s $675m in fiscal 2006 and $900m in the next year. This allocation comes from an alloc...
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AP3 to raise global real estate allocation
REAL ESTATE - Swedish national buffer fund Tredje AP-fonden, AP3, is to boost its long-term real estate allocation to 8.5% - at least half of it in overseas property. The public sector buffer fund said the increase - from a current allocation of ...
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Real estate returns 21% for Ontario Teachers
REAL ESTATE – The $96.1bn (€67.7bn) Ontario Teachers’ Pension Plan made a 21.3% return on its real estate portfolio in 2005. The figure compared to a 6.2% return for the benchmark. “Real estate, managed by the Cadillac F...
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Sponda results signal Finnish recovery
REAL ESTATE - Helsinki’s office market is showing the first signs of recovery, though it remains vulnerable to short-lease expiries, according to Merrill Lynch. In research note issued by the bank on Finnish property management firm Sponda,...
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Germany’s DEGI sees commercial recovery
REAL ESTATE – A new study by German property fund provider DEGI has provided further evidence of a recovery in the domestic commercial real estate market yet also questions the sustainability of that recovery. According to the study, demand ...
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Louisiana Teachers’ €600m move
REAL ESTATE – The Teachers’ Retirement System of Louisiana has allocated a total $600m (€503m) to three open-ended core commingled fund real estate managers. Each of these managers will receive a $200m commitment. They are Pramer...
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NY teachers back Penwood fund
REAL ESTATE - Penwood Real Estate Management has attracted $100m (€84m) in equity for its first commingled fund called California Select Industrial Partners. The capital came from two public pension funds contributing $50m each: one of these...
