All News articles – Page 1169
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News
Savills launches cross border valuation team
REAL ESTATE – Property services company Savills has launched a cross border European valuation team to be based at its London offices. William Newsom, head of valuation, told IPE that the new team, for which he recruited new directors Collie...
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Invista hires Easthaugh as finance director
REAL ESTATE - Real estate fund manager Invista has appointed former banker Guy Eastaugh as financial director as part of a plan to separate financial and operational functions. Current chief financial officer (CFO) Philip Gadsden will occupy the ...
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Bundestag passes G-REITs bill
REAL ESTATE – Germany’s lower house of parliament, the Bundestag, has approved draft law legalising German real estate investments trusts (G-REITs) retroactively from 1 January.
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ING in €100m Stuttgart retail deal
REAL ESTATE - ING Real Estate Development has sold its Stuttgart retail centre Canstatter Carre to property fund Encore+ in a €100m transaction. The complex – developed by ING - comprises of 37,000 metre2 of lettable area (including 15...
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Noble raises $310m for new hotel fund
REAL ESTATE - Noble Investment Group has raised $310m (€233.1m) of equity for its hotel investment fund called Noble Hospitality Fund. This commingled fund will be the first time that the company has raised a discretionary investment fund f...
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Harvard Endowment invests in BayNorth’s new $473m fund
REAL ESTATE – US-based BayNorth Capital LLC has completed raising capital for its latest investment fund, BayNorth Realty Fund VII, with a total of $472.5m (€356m) contributed. One of the more significant investors in the fund was the...
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Washington State approves over $800m in real estate
REAL ESTATE- The Washington State Investment Board has taken action to place more than $800m (€601.4m) into new real estate investments. The pension fund made these investment decisions at its board meeting recently. One decion was a follow...
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Aberdeen settles REO split cap lawsuit
REAL ESTATE - Fund management firm Aberdeen is to pay Real Estate Opportunities (REO) £30m (€44m) to settle a lawsuit brought by the split capital trust. Aberdeen and Swiss bank UBS, which REO also sued, advised REO on a 2001 listing i...
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JER starts to buy US properties for next commingled fund
REAL ESTATE – US manager JER Partners has started the process of buying properties for its next commingled fund, JER Partners IV. Among the first properties for the fund was the acquisition of the Fairview Park Marriott in Falls Church, Va., f...
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Clerical Medical makes moves into Europe
REAL ESTATE - UK insurer Clerical Medical has hired fund manager Invista to spearhead its entry into continental European real estate. The pan-European portfolio will invest in sectors, such as commercial, with a core income profile. A spokes...
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Corio undertakes massive Paris office revelopment
REAL ESTATE – Property investor and manager Corio will redevelop and enlarge its Paris’ office building Le Newton into a high quality complex of 42,000 m2, it has announced. The €120m project will lead to an almost fourfold incre...
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Michael Koch found guilty of corruption in Frankfurt court
REAL ESTATE – Michael Koch, the central figure in the 2004 bribery scandal that engulfed German real estate fund provider Deka, was found guilty of corruption by a Frankfurt court but will not go to jail. Instead, the Frankfurt court sentenc...
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Norway follows Denmark with record returns
REAL ESTATE - The Norwegian property market returned 17.6% last year – its highest return since the index launched in 2000 – but the property market still performed below equities, which returned 32.4%. But the figures, published last...
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LA Fire & Police is looking hard at Stratford fund
REAL ESTATE - Los Angeles Fire & Police Pension System is looking into making a commitment to a new commingled fund, Stratford Land Fund III. But the pension fund will not be making a final decision until its gets a report on the commingled...
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LACERA makes first medical office investment
REAL ESTATE - The Los Angeles County Employees Retirement Association has placed its first ever investment in medical office buildings. This was accomplished with commitment of up to $25m (€19m) into the LaSalle Medical Office Fund II.
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CalPERS undertakes a major real estate review
REAL ESTATE - The California Public Employees Retirement System will be undertaking an overall review of its real estate portfolio and strategy over the next few months.
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Dutch 2006 commercial returns rise to 12.5%
REAL ESTATE - The total returns on all commercial property in the Netherlands were 12.5% in 2006, ROZ-IPD Netherlands Property Index has reported. Returns have increased for the fifth consecutive year, and were the highest since 2000, the property...
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Danish yields near record highs of 2005
REAL ESTATE - Yield compression drove returns for Danish real estate up to 17.8% in 2006, according to property data group IPD. This is the second highest return since the index launched in 2000. Overall, yields on Danish real estate fell by 60 b...
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European property market turnover hits €227bn in 2006
REAL ESTATE - The European commercial real estate market has doubled over the past two years, According to a CB Richard Ellis report just published, turnover increased 46% last year to €227bn, following an increase of 47% the previous year....
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Los Angeles City approves new emerging manager policy
REAL ESTATE – The Los Angeles City Employees’ Retirement System has approved a new emerging manager policy for its real estate investment plan. The pension fund made this decision in conjunction with its real estate consultant Townsend...
