More Top Stories – Page 988
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Property derivatives fund backed by major fund managers
UK – The first pure property derivatives fund, offering cheap exposure to the UK real estate market index, has been launched with backing from a number of institutional real estate fund managers.
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Institutional investors back AEGON healthcare strategy
UK – AEGON Asset Management has secured two more institutional investors, through DTZ Investment Management, for its new healthcare real estate fund.
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APREA study urges pension funds to boost real estate allocations
GLOBAL – Asian pension funds are being urged by a new report to follow the lead of their US and European counterparts by allocating more to real estate.
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Carlyle combines buyout, real estate capital to fund B&B Hotel purchase
EUROPE – The Carlyle Group has acquired B&B Hotel Group, operator of 223 hotels across France, Germany and France, with equity from one of its private equity buyout funds and one if its real estate vehicles.
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Former manager at AZL accused of taking bribes
NETHERLANDS – A former employee of pensions provider AZL has been accused of committing property fraud by accepting bribes.
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French commercial real estate returns to positive territory, says IPD
FRANCE – Commercial real estate in France has emerged from a two-year slump to record a six-month 1.6% capital appreciation, according to Investment Property Databank (IPD).
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AMF makes largest Swedish transaction in over two years
SWEDEN – Swedish pension provider AMF and German open fund manager DEKA Immobilien Investment have executed the largest single real estate deal in the city of Stockholm for more than two years.
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Quarter of global fund managers' real estate assets in Asia
GLOBAL – Global fund managers own $178.6bn (€131bn) of real estate in Asia Pacific, close to a quarter of their total assets under management, according to ANREV.
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Texas Teachers approves $500m investment in retail REIT
GLOBAL – The Teacher Retirement System of Texas has approved a $500m (€371m) investment into General Growth Properties (GGP).
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Wisconsin commits $75m to Mesa West debt fund
GLOBAL – The Wisconsin State Investment Board has made a $75m (€56m) commitment to the Mesa West Real Estate Income II commingled fund.
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Germany sets two-year holding period for open real estate funds
GERMANY – The German government has passed new regulations for open real estate funds (OIFs) that will include a minimum two-year holding period.
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Korea's National Pension Service goes global with $300m US mandate
GLOBAL – The National Pension Service (NPS) of Korea has hired The Townsend Group to invest $300m (€222m) of its capital opportunistically in the Americas.
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Large retails deals on the rise in Australia
AUSTRALIA – The sale of four retail outlet centres for $473m (€351m) has signalled a rebound in interest among institutional investors for large retail transactions in Australia, according to Jones Lang LaSalle (JLL).
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Former pension fund adviser to run 'liquid' global real estate fund
GLOBAL – Pacific Real Estate Capital Partners (PRECP) is to launch low-cost, liquid global real estate fund aimed at institutional investors "frustrated" with the performance of traditional property funds.
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Quarterly INREV index shows first positive returns since 2007
EUROPE – Performance of European non-listed real estate funds returned to positive territory this year, the first time since 2007, according to inaugural quarterly index results for the sector.
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Texas Teachers makes $300m commitment to US Government Building Fund
GLOBAL – The Teacher Retirement System of Texas has become the lead investor in the recently closed US Government Building Fund after Texas Teachers approved a $300m (€230.2m) allocation to the fund.
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San Diego County makes $200m commitment to core fund
GLOBAL – The San Diego County Employees Retirement Association (SDCERA) has approved a $200m (€152m) commitment into the JP Morgan Strategic Property fund.
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CalPERS continues Brazilian joint venture with Hines
GLOBAL – The $210bn (€158bn) California Public Employees Retirement System (CalPERS) has given its latest endorsement to Hines' Brazilian real estate expertise by committing to the third in a series of joint ventures in the South American market.
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Newham Pension Fund backs co-investment housing fund
UK – The London Borough of Newham Pension Fund is to invest in a new residential real estate fund run by Mill Group.
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CPPIB swoops on eight shopping centres
GLOBAL – The Canada Pension Plan Investment Board (CPPIB) has spent C$230.5m (€167m) to acquire interests in eight shopping centres in Canada.
