All News articles – Page 1162
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News
CalSTRS gets closer to its real estate allocation
UNITED STATES- The California State Teachers Retirement System is inching its ways towards its targeted real estate allocation of 11% as the pension fund invested $560m (€420m) in the first quarter of this year. CalSTRS has now invested 9...
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EC appoints experts for open-ended fund inquiry
EUROPE - The European Commission has appointed an expert panel to advise on regulation of open-ended real estate funds. The panel, which will meet until January 2008, comprises members including representatives of Crédit Agricole Asset Manage...
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Yields drive pension funds to car parks
EUROPE - A Luxembourg-domiciled fund is promising to deliver pension funds above-average yields with a fund set up to invest €600—700m in Central European car parks. The Société d’Investissement à Capital Risque (S...
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China property growth 'sustainable’
CHINA - A 40% year-on-year increase in the number of sale agreements in the Hong Kong property market last year suggests an upward trend will continue in 2007, according to a report published by Vigers. The Hong Kong-based property consultants fou...
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Dutch schemes consider rejuvenating industrial estates
NETHERLANDS - Dutch pension funds are showing an interest in investing in the rejuvenation of run-down industrial estates in the Netherlands. "Providing that our criteria are met, we are willing to look at solid proposals from both councils ...
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Moody’s: investors are diversifying into timber
GLOBAL - Long-term cashflow, a need for diversification and growth prospects in a fragmented industry are pushing investors towards timber REITs, according to a report published by credit ratings agency Moody’s. The report claims this ?...
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Pension funds see Heitman hit double the target
UNITED STATES - Heitman has attracted pension fund institutional investors to the tune of $800m ($599.6m euros) for its commingled fund known as Heitman Value Partners II - double the size of its original $400m Heitman Value Partners offering. One...
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Ennis Knupp to increase real estate presence
UNITED STATES - Ennis Knupp & Associates is seeking on expanding its expertise in the real estate asset class as the firm intends to hire four new people over coming months to increase its exposure to the asset class. Scott Brown, principal an...
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Prupim enters Swedish property market
SWEDEN - Real estate investment manager Prupim has entered the Swedish property market by acquiring a €41m landmark office building in Kungsholmen. The company purchased the building – Paradiset 14 – on behalf of the M&G Euro...
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RREEF gains space in Norwegian joint venture
NORWAY - RREEF is expanding its presence further into the Nordic region through a joint venture purchase of its first Oslo-based office block. The real estate subsidiary of Deutsche Bank has signed a joint venture with Norwegian-based real estate ...
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French & UK pension funds invest €125m in Nordics
NORDIC REGION - Aberdeen has raised €125m in the fourth closing of Aberdeen’s €370m pan-Nordic real estate SICAV as UK, French and Scandinavian pension funds see Nordic economies outstripping those in Western Europe. Ubbe Strihag...
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Baltics to overtake CEE markets in residential
SWEDEN - Swedish bank SEB last week acquired the €37m Europeum Business Centre in Bratislava amid wider positive forecasts for the Slovakian market. The seven-storey building, for SEB’s ImmoPortfolio Target Return Fund, was built in 2...
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Vector’s bid to become hotel REIT thwarted
UK – Investors have derailed plans by UK hotel group Vector Hospitality to become Europe’s first hotel real estate investment trust (REIT). Vector was forced to abandon a planned flotation on the London Stock Exchange (LSE) last Thursd...
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Hawkeye Partners begins emerging manager capital handover
UNITED STATES - Hawkeye Partners is about to begin the process of allocating equity it raised through its Scout Fund to emerging managers. The commingled fund manager raised in excess of $650m ($480.3m euros) for the fund through a select group of...
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Blue Sky hires successor to Satumalaij
NETHERLANDS – Blue Sky Group, the manager of Dutch airline KLM’s pension fund assets, has appointed Hidde Frequin as its new real estate fund manager real estate. Succeeding Raymond Satumalaij, who resigned in March to join fund manage...
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Mercer calls for earlier selection input
EUROPE - Pension funds seeking real estate fund managers need to get involved in selection process discussions at an earlier stage because the bespoke nature of mandates is becoming more complicated, according to consultants Mercer. Greg Wright, p...
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More pension fund capital headed for infrastructure investing
UNITED STATES - More pension funds are expected to move into investing in infrastructure in the months ahead as New Jersey Division of Investment, California State Teachers Retirement System and Alaska Permanent Fund Corporation have now expressed an...
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ING Clarion takes hotel REIT private
UNITED STATES- ING Clarion Partners has acquired Apple Hospitality Two and turned it from a REIT owning 63 extended stay hotel properties in 24 states into a private company. Acquisition price for the company was $877m ($649.5m euros) and financed...
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Shorenstein sees new fund climb fast
UNITED STATES - Shorenstein Properties LLC had one of the fastest fundraising periods in recent memory with its latest commingled fund, the Shorenstein Realty Investors Nine. Around 85% of the investor commitments for the new fund had previously i...
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IPO gives comfort to jittery Spanish market
SPAIN - An oversubscribed share issue last week from Spanish property firm Realia suggests a partial recovery in market sentiment from last month’s jitters over asset sale irregularities at another property group. Of the shares on offer, 52%...
