More Top Stories – Page 1121
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ING Real Estate boosts Asia team
ASIA - ING Real Estate has charged its managing director for Singapore, Peter Wittendorp, with doubling assets under management in Asia to $3bn within two years. Wittendorp, who adds the newly-created position of chief investment officer to his c...
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US schemes eye international real estate securities
US - There is going to be more interest from US pension funds this year in investing in international real estate securities. One of the leaders in this trend will be the California Public Employees Retirement System. The pension fund is looking a...
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Hermes real estate team renamed, revamped
UK – Hermes, the asset manager owned by the BT Pension Scheme, has restructured its real estate team in a bid to increase its market savvy. Under the new structure, dedicated fund managers will narrow their focus to concentrate on specific...
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DB Real Estate plans €1bn sale
GERMANY – DB Real Estate, the property fund arm of Deutsche Bank, will sell €1bn worth of real estate holdings from its embattled core German fund to boost the fund’s liquidity, banking sources said. The sources, who asked not to...
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PKA’s Gunnergaard to set up consulting firm
DENMARK – Troels Gunnergaard, the head of property investment at Pensionskassernes Administration (PKA), has resigned to establish his own consulting firm, Gunnergaard Consult. IPE understands that Gunnergaard’s new consultancy will be...
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Switzerland’s AFIAA plans US move
US - AFIAA-REIM, a leading investment advisor for state pension funds in Switzerland, is looking to become a bigger player in US real estate investment. The company would like to place $500m in the country over the next 12 to 18 months. AFIAA is a...
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Iowa scheme issues $360m in commitments
US - The Iowa Public Employees Retirement System (IPERS) has approved new commitments to its separate account real estate managers to the tune of $359.2m (€299.4m). IPERS now works with five separate account managers. These are Clarion P...
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CB Richard Ellis Investors raises $1.18bn
US - CB Richard Ellis Investors (CBREI) has raised $1.18bn (€984m) from 33 investors for its latest commingled fund: CB Richard Ellis Strategic Partners US IV, L.P. The fund was oversubscribed with an original target raise of $800m-$900m. ...
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Rabobank eyes Bouwfonds amid muted interest
NETHERLANDS - Rabobank says it may bid for ABN Amro’s property development subsidiary Bouwfonds when it comes up for sale in 2006. Bank spokesman Ernst Moeksis said the bank would not rule out a bid for the Netherlands’ largest reside...
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Industry in wait-and-see stance on UK REITS
UK - Reaction to the outline real estate investment trust proposals last week has been muted - with many industry specialists adopting a wait-and-see approach. Gareth Lewis, director of finance and investment at the British Property Federation (BP...
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Fidelity nabs Cable for real estate push
EUROPE - Fidelity International has hired Neil Cable to drive its entry into the European real estate market. Cable, who joins as Fidelity’s head of real estate in January, will spearhead the firm’s attempt to exploit what it predicts...
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Colonia buys 1,600 Hamburg apartments
GERMAN - Colonia Real Estate AG has bought roughly 1,600 apartments in the Hamburg area for less than €40m. The Cologne-based firm said it acquired the residential portfolio through its wholly owned subsidiary CRE Wohnen GmbH. It’s...
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Rodamco to expand to Central Europe
NETHERLANDS – Retail investment company Rodamco Europe is planning to double its properties in Central Europe, it said. In order to reach its goal, it will be looking at expansion in its existing markets – the Czech Republic, Poland, H...
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Deutsche facing DB Real Estate lawsuits
GERMANY – Deutsche Bank was last Friday scrambling to contain the dual threat of damage to its image and lawsuits following an unprecedented closing of its €6.1bn German real estate fund earlier in the week. According to Deutsche, inve...
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Sal. Oppenheim poaches Ernst & Young team
SWITZERLAND – Ernst & Young’s entire real estate team moved to the newly established Sal. Oppenheim jr. & Cie. corporate finance division on December 1. The team formed part of the larger EY corporate finance business unit, inc...
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Bulgarian developer aims to raise €59m
UK – Bulgarian Property Developments – which focuses on property developments, trading and investment – is planning to raise up to £40m (€59.4m) through the placing of new shares to capitalise on its existing six-site pro...
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Investors pull €1.5bn from Deka
GERMANY – Deka Immobilien Investment, Germany’s leading provider of real estate funds, saw its three flagship funds hit by almost €1.5bn in investor outflows during the first nine months of 2005. The three funds, targeted mainly ...
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CalPERS, LaSalle in $3.4bn Chicago deal
US – The California Public Employees' Retirement System and LaSalle Investment Management are to buy Chicago-based real estate investment trust CenterPoint Properties Trust in a $3.4bn deal. CalEast Industrial Investors – whose members...
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Townsend and Watson in US real estate tie
US - The Townsend Group is to provide real estate consulting services to clients of investment consultant Watson Wyatt in the US. Under the deal Townsend will be the exclusive real estate contractor to Watson Wyatt Investment Consulting. It will p...
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Canada Pension Plan makes €600m retail buy
CANADA - The Canadian Pension Plan Investment Board (CPPIB) has bought two large shopping centres in Quebec: the Galeries de la Capitale in Quebec City and Carrefour de L'Estrie in Sherbrooke. The value of the deal was confidential but Land Regist...
