More Top Stories – Page 979
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ING Clarion buys mixed use property in New York City
GLOBAL – ING Clarion Partners has bought the 90,000 square foot 636 Avenue of the Americas in New York City in a deal worth $42.5m (€32m).
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Finland's Varma to scale back domestic real estate investment
FINLAND – Varma Mutual Pension Insurance Company is expected to slow its domestic real estate investment programme in 2011, following two years of intense activity, citing rising vacancies and an influx of foreign investors.
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German roundup: AXA IM, infrastructure, Fleischhauer, Hoyer & Partner
GERMANY – Out of Germany's 156 institutional investors, Pensionskassen were the only ones to identify direct real estate holdings as more risky than indirect investments in a survey commissioned by AXA Investment Managers.
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Thursday people roundup
GLOBAL – Bouwfonds Real Estate Investment Management, Patrizia Immobilien, Savills, Knight Frank Investors
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SPMS awards Aviva Investors €350m property mandate
GLOBAL – The €5.5bn occupation pension fund for Dutch medical consultants (SPMS) has appointed UK firm Aviva Investors as manager of its unlisted property.
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PE fundraisers 'optimistic' for 2011 after a tough 12 months
GLOBAL – The private equity-style real estate funds sector continues to struggle to raise capital from investors, as the latest study from Preqin shows that only 89 funds reached a close in 2010, raising $35.8bn (€27.2bn) in the process.
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Arbuthnot UK real estate team enters JV with AEW Europe
UK – The UK real estate team of Arbuthnot Real Estate Investment Management (ArbreIM) has left the company to form a new joint venture business with AEW Europe.
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Harrison Street expands into the REIT management business
GLOBAL – Harrison Street Real Estate Capital has moved into the REIT management business with the acquisition of Transwestern Securities Management, the REIT subsidiary of the real estate investment firm Transwestern Investment.
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CalSTRS enters $1bn industrial joint venture with Panattoni
GLOBAL – The California State Teachers' Retirement System (CalSTRS) has entered into a joint venture with the Panattoni Development Company to invest $1.15bn (€874m) in industrial and commercial real estate in the US and Canada.
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AREA buys nine-property apartment portfolio in Texas
GLOBAL – AREA Property Partners has acquired a multi-family portfolio in Texas totaling nine properties and 2,589 units for an undisclosed sum.
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Transaction-linked index a 'gift' for asset allocation, says Mercer
EUROPE – The transaction-linked index (TLI) being developed by IPD, which combines market valuations with traded prices, will be a "gift" when devising asset allocations for pension funds, according to Mercer.
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CBRE Investors' opportunity fund takes over Atlantic Station
GLOBAL – CB Richard Ellis Investors has acquired Atlantic Station in Atlanta, Georgia, from insurer AIG for its fifth US opportunity fund.
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Monday people roundup
GLOBAL – Europa Capital, Union Investment, Rockspring Property Investment Managers, UNITE, TPG Capital
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Cornerstone targets infrastructure for first European offering
EUROPE – Cornerstone Real Estate Advisers Europe has launched its first European fund – a social infrastructure vehicle – since the US-based investment manager acquired Protego Real Estate Investors in 2009.
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ATP signs off €700m for indirect real estate investments
DENMARK – Denmark's largest pension fund, ATP, has allocated a further €700m to invest in real estate funds, joint ventures and club deals through its subsidiary ATP Real Estate.
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Connecticut scheme seeks separate account manager
GLOBAL – The Connecticut Retirement Plans and Trust Funds issued a Request for Proposal (RFP) for a separate account real estate manager at its December 2010 board meeting.
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Kansas PERS makes $75m commitment to UBS Trumbull
GLOBAL – The Kansas Public Employees Retirement System has signed a contract to allocate $75m (€58.1m) to the UBS Trumbull Property fund, managed by UBS Realty Investors.
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Vasakronan makes Sweden's largest real estate purchase
SWEDEN – Vasakronan, the real estate company owned by Sweden's national buffer funds, has acquired the Blåmannen 20 city block in Stockholm, known as Klara Zenit, in its entirety for SEK4.35bn (€487m).
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Ohio Police & Fire issues redemption queues on open-ended funds
GLOBAL – The Ohio Police & Fire Pension Fund has decided to issue redemption queues for two open-ended commingled funds in which it has invested.
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CalPERS transfers National Office Partners portfolio to CommonWealth
GLOBAL – The California Public Employees Retirement System (CalPERS) has transferred its National Office Partners real estate portfolio from Hines to CommonWealth Partners.
