More Top Stories – Page 1119
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JP Morgan creates new development fund
REAL ESTATE – JP Morgan Fleming Asset Management has put together a new investment fund called Excelsior II and attracted $450m of institutional capital for it. The money came from three large public pension funds, one of which was the New ...
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Pennsylvania Public School Employees in $300m move
REAL ESTATE - The Pennsylvania Public School Employees Retirement System has decided to invest $300m (€250.8m) into two new commingled funds. The fund has made a $200m commitment to the ProLogis North American Industrial Fund (a real est...
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Ilmarinen real estate chief Kankuri exits
REAL ESTATE – Ilmarinen Mutual Pension Insurance Co. has hired Esko Torsti to take over from real estate head Timo Kankuri. Kankuri is to join Jaakko Pöyry Infra as president of the building services and telecom -business area of J...
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Bidding war over Town & Country REIT
REAL ESTATE - A bidding war has broken out for the rights to acquire Town & Country (TCT), the Baltimore, Maryland-based apartment REIT that owns 13,000 units on the eastern US seaboard. A third bidder entered the fray last week when investmen...
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Henderson sets up property fund of funds
REAL ESTATE - Henderson Global Investors has launched what it says is Europe’s first property fund of funds. The Indirect Property Fund Europe will invest in “eight or nine” funds across sub-sectors and geographical locations. ...
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Partnership targets ‘low risk’ PPP projects
REAL ESTATE - Land Securities Trillium and Mill Group have formed a 50/50 joint venture to bid for UK public private partnership (PPP) projects. The venture, Investment in the Community, will expand on Mill Group’s programme of the same nam...
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UCITS real estate definitions revamped
REAL ESTATE - More closed-end real estate funds could be marketed across Europe if the European Commission heeds advice from the Committee of European Securities Regulations (CESR). In a note published at the end of January, the CESR, which a...
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A real estate new fund manager is born
REAL ESTATE - A new real estate investment manager has been created - Quadrant Real Estate Advisors. This company has two parents, both Australian-based. The Mirvac Group is one while former senior executives of GMAC Institutional Advisors compris...
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Real estate no longer beating equities - Merrill
REAL ESTATE – Real estate is no longer outperforming equities, despite continued strong money flows, says Merrill Lynch. “The start of 2006 has been strongly positive both for global equity markets and property shares,” Merrill s...
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Tishman closes $1bn fund
REAL ESTATE - Asset manager Tishman Speyer has closed its largest fund to new investors after raising more than $1bn to invest in high-end US commercial property. The Tishman Speyer Real Estate Fund VI has invested in nine properties to date, inc...
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Bank of New York buys Urdang
REAL ESTATE - Urdang Capital Management has signed a definitive agreement to be acquired by The Bank of New York. Urdang is a Pennsylvania-based real estate investment management firm. The transaction is set to close by either the end of Febru...
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Aussie trusts eye Europe and Asia
REAL ESTATE - Australian listed property trusts (LPTs) have been steadily increasing their overseas exposure and turning their focus to Europe and Asia at the expense of the US market. This is the finding of Melbourne research group PIR. Its anal...
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Call for uniform real estate earnings
REAL ESTATE - Real estate investment institutions should introduce a uniform statement on reporting on net asset value and earnings per share, the European Public Real Estate Association has advised its members. According to EPRA, the introduction...
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Hotel sector heats up in Asia
REAL ESTATE - With strong economic growth across Asia and tourism numbers rising steadily, real estate investors are enthusiastically buying into hotels in the region. Jones Lang LaSalle recently conducted a survey on hotel investment, targeting ...
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Oregon pension fund makes real estate moves
REAL ESTATE - The Oregon Public Employees' Retirement Fund made two real estate moves at its recent board meeting. It invested $150m into the Keystone Industrial Fund and established a value-added category for its real estate investment program. ...
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Dutch funds eye UK property derivatives
REAL ESTATE - Dutch investment institutions are being targeted to come to the aid of the emerging property-based derivatives market in London. Industry sources believe the Dutch institutions could boost the sector because of their greater sophist...
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Hypo Real Estate 2005 financing booms
REAL ESTATE – Hypo Real Estate gained €22.3bn in new real estate financing business in 2005, up from €12.6bn in the previous year. It said the figure was “considerably higher” than its 2005 target of €13.5bn. ...
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Dutch pension fund tenders €500m
REAL ESTATE – A Dutch pension fund has tendered up to €500m in Asian and European real estate via the IPE-Quest system. The fund expects to invest up to €250m into Asia (including Japan) and a similar sum into Europe during 2006 ...
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Rodamco names Shell executive as CFO
REAL ESTATE – Rodamco Europe has named Shell finance executive Peter van Rossum to take over from former chief financial officer John de Die. It said van Rossum, 49, would join the company in April. He’s currently regional finance dire...
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APUT enters INREV territory
REAL ESTATE - The Association of Property Unit Trusts (APUT) is to embrace the entire UK unlisted fund sector and has changed its name to the Association of Real Estate Funds (AREF). New chairman Nick Cooper (who is also managing director of ING ...
