More Top Stories – Page 1117
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Online property derivatives trade in offing
REAL ESTATE - Independent pricing provider Tullet Prebon and e-trading firm Propex are teaming up to deliver the first real estate derivatives trading platform. Under the partnership agreement, Propex, the main data exchange for real estate-holdi...
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Morley, CBRE launch global REITs fund
REAL ESTATE - Morley and CB Richard Ellis will jointly launch a global REIT fund. The Aviva Funds Global REIT fund, the sub-fund of a Luxembourg SICAV, will invest in listed real estate securities in markets with REITs. The partners said the REIT...
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ABP and ATP in UK real estate venture
REAL ESTATE – The Netherlands’ ABP and Denmark’s ATP have signed up for a £500m (€724m) real estate joint venture. The civil service and labour market funds have teamed up with the management team of Hemingway Properti...
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Pension funds back new Morgan Stanley fund
REAL ESTATE – Major pension funds around the world have invested in the new Morgan Stanley global real estate fund, the bank says. It said it has raised $4.2bn (€3.53bn) of equity for its Morgan Stanley Real Estate Fund (MSREF) V Inter...
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Irish construction scheme ups allocation
REAL ESTATE - The Construction Federation Operatives Pension Scheme (CFOPS), the Irish builders’ fund, has boosted its real estate allocation by 2% with a move into indirect investment. Until last year the €570m fund held 10% of its po...
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San Bernardino in new allocation
REAL ESTATE – California’s San Bernardino County Employees Retirement Association has awarded separate account manager American Realty Advisors a new $25m allocation and approved a new value-added strategy. The real estate manager has ...
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David Hunter joins Halladale as consultant
REAL ESTATE - Halladale has appointed former Aberdeen and Arlington managing director David Hunter as a consultant to Rynda, its majority-owned fund management business. The UK commercial property group set up Rynda last year to expand its co-inv...
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Foncia acquisitions drive growth
REAL ESTATE - French property firm Foncia says it is already close to reaching its 15% growth target for 2006 thanks to an aggressive acquisition strategy that has seen it swallow up smaller French rivals. The residential real estate manager post...
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ING Real Estate names Central Europe MD
REAL ESTATE - ING Real Estate has appointed Martin Sabelko as managing director of its Central Europe investment management business five months after his predecessor quit the job. Sabelko will be responsible for local management of the ING Prope...
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UBS Asia real estate chief joins Goldman
REAL ESTATE – Goldman Sachs has hired Michael Smith, head of real estate in Asia at UBS, for its Singapore office. It’s also taken on Vincent Peng, head of UBS's corporate investment group for Singapore's Government of Singapore Inves...
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Townsend gets larger role at Ohio fund
REAL ESTATE - The $10.6bn Ohio Police & Fire Pension Fund has decided to let its real estate consultant, Cleveland-based the Townsend Group, to work with its separate account real estate managers. In the past, the pension fund had its senior r...
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Deutsche write-down lower than estimated
REAL ESTATE – DB Real Estate, the property fund arm of Deutsche Bank, has re-opened its core German real estate fund following a write-down of its holdings which, at €147m, was lower than previously estimated. Following the surprise cl...
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CalSTRS to expand apartment venture
REAL ESTATE – The California State Teachers Retirement System has expanded an existing joint venture with BlackRock Realty to invest in apartments that will have a total capitalization of $1.2bn (€1bn). There is a total of $420m of equ...
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Stouthamer’s Composition opens HK office
REAL ESTATE – Erwin Stouthamer’s Composition Capital Partners has opened a regional office in Hong Kong. The office would deal with local partners and scout out new investment opportunities for its Asia private real estate fund of fund...
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Ilmarinen wary of real estate price rises
REAL ESTATE - Economic growth could prove just as big a risk to real estate investors as slowdown, according to Finnish pension fund Ilmarinen. Against a buoyant Finnish economy, year-end results revealed that Ilmarinen’s €2.1bn real e...
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Ontario fund to raise real estate allocation
REAL ESTATE – OMERS, the C$41.1bn (€30.0bn) Ontario Municipal Employees’ Retirement System, is to raise its real estate allocation to 12.5% from the current 8.1%. It comes amid a plan to raise its allocation to real estate, priva...
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Firms selling property to pay for pensions
REAL ESTATE - Two of Britain’s most high-profile firms are to plug pension fund deficits with property assets. BAE Systems says it plans to help plug its £2.4bn (€3.5bn) main pension fund deficit with £240m in property asset...
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Corio in court action over Italy deal
REAL ESTATE - Retail property management firm Corio has filed suit for €46.8m against Italy’s Barletta Group over the 2003 turnkey acquisition of Campania shopping centre outside Naples. Corio claims the company has failed to comply w...
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BNP Paribas reduces Klepierre holding
REAL ESTATE - BNP Paribas has played down its decision to sell part of its share in French property firm Klepierre. A spokeswoman for the bank described the decision to reduce its shareholding from above 53% to below 51% as “not a significa...
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Alaska fund to buy into Simpson Housing
REAL ESTATE - The Alaska Permanent Fund Corporation is to acquire a 50% interest in Simpson Housing Corporation which is currently held by the State of Michigan Retirement System. The transaction is set to close by the end of March. The size of ...
