All News articles – Page 1173
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News
RREEF in new joint venture for US apartment deals
REAL ESTATE – Major manager RREEF has formed a joint venture with Bainbridge Capital, LLC to invest in apartment complexes in certain markets across the US. There is no set amount of capital that has been allocated to the venture. Transacti...
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DivcoWest buys property in Texas
REAL ESTATE - DivcoWest has closed on the purchase of an office building in Austin, Texas. The real estate fund manager paid $49m (€37.3m) for the Parmer Business Park in Austin. The property was acquired from pension fund manager RREEF....
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Kardan targets China in major expansion drive
REAL ESTATE – Dutch real estate group Kardan will invest $55m (€42.4m) has reported that its subsidiary GTC RE Real Estate will be developing a housing project in Shenyang, a city in the north of China. This will be the fourth real esta...
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SoCal office of ING Clarion to focus on value-added deals
REAL ESTATE - The Southern California office of ING Clarion Partners will be focusing on more value-added investments for 2007. Managing director Richard Pink said: "Our investment plan for this year is to emphasise more value-added kind of ...
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German pension scheme sells off Hamburg residential
REAL ESTATE - An unnamed north German pension fund has sold a 55-unit residential portfolio in Hamburg to property firm Hanseati for €4m. The ageing portfolio of 55 housing units and 28 parking bays is located in Alsterdorf-Winterhude. The ...
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AP3 to set up Asian property fund
REAL ESTATE - AP3, the third Swedish buffer fund, has awarded a second mandate in as many weeks to Aberdeen Property Investors – this one for a €250m Asian property fund-of-funds. The fund is scheduled to complete its fundraising by Q2 20...
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EOP prefers Blackstone’s $39bn bid, spurning Vornado
REAL ESTATE - The Blackstone group has ended up as winner of the bidding war, by Equity Office Properties’ decision to agree with its $39bn all-cash offer. After EOP’s board of trustees had already reaffirmed their acceptance of the Bl...
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Corio buys 40% stake in Turkish retail centre
REAL ESTATE - Property developer and manager Corio has acquired a 40% stake in a Turkish retail centre in a €55m transaction, it said. The deal involves the Teras Park shopping centre, comprising of 55,000m2 of gross lettable area, current...
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ING opens delayed €500m Warsaw retail landmark
REAL ESTATE - After a one-and-a-half year’s delay, ING Real Estate has officially opened its €500m landmark retail centre Zlote Tarasy in Central Warsaw. The mixed-use project of Zlote Tarasy - ‘Golden Terraces’ - covers 6...
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Missouri pension fund creates real estate allocation
REAL ESTATE - The Missouri Local Government Employees Retirement System has established a real estate allocation for the first time. The amount that was approved is 5% of its total assets. The pension fund made this decision at its recent board m...
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San Diego County approves investment in apartment commingled fund
REAL ESTATE - San Diego County Employees Retirement System has allocated a $25m(€19m) commitment into the Cornerstone Apartment Ventures III, LLC. The pension fund took this action on its real estate portfolio at its board meeting earlier ...
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CalSTRS expands US apartment JV with BlackRock
REAL ESTATE - California State Teachers Retirement System is in the process of expanding its apartment joint venture with BlackRock Realty called BlackRock Cal I, LLC. The pension fund will be contributing $300m(€231m) of additional equity t...
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HSBC considers selling Canary Wharf HQ
REAL ESTATE - UK banking giant HSBC is considering selling off its UK headquarters in Canary Wharf in a 15-year sale-and-leaseback deal. No price tag has yet been attached to the world’s largest single-occupier building. An HSBC spokesman s...
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RREEF joins with Epiphany for luxury residential club venture
REAL ESTATE – Property firm RREEF has formed an equity joint venture with Epiphany Capital Partners that will invest in the luxury residential club industry. RREEF had been looking for some time at investing in the residential club business....
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New York State Teachers invests in two euro commingled funds
REAL ESTATE - The New York State Teachers Retirement System has approved real estate investments in two commingled funds outside the US. One was a €28m commitment to the CB Richard Ellis Strategic Partners UK Fund III. The other was a ?...
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European office ‘will continue to perform’
REAL ESTATE - European office will continue to perform overall in 2007, according to IVG’s recently published Real Estate Barometer. IVG attributed the sub-sector’s "extraordinary" sales volume last year to falling yields...
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Euro-REITS take off as US veterans de-list
REAL ESTATE - European investors are looking to real estate for high yields and low volatility – except Dutch pension funds, which are looking for geographic diversification, according to a RREEF report into the global real estate securities ma...
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ECP to focus on increased exposure in Sweden
REAL ESTATE - Euro Commercial Properties will focus on increasing its present exposure of 19% in Sweden, it announced. The property investor and developer has budgeted €220m for upgrading and developing its existing retail centres within its...
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London’s Croydon diversifies into real estate
The fund, which is currently exclusively invested in equities, is seeking a real estate investment manager for a 10-year contract to manage a property portfolio of between £40m—£60m (€60.5m—€91m).
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Institutions could miss out on slice of €1bn ‘gherkin’
REAL ESTATE - Reinsurance firm Swiss Re has sold its landmark London headquarters in St Mary Axe to – known to Londoners as The Gherkin – to German property firm IVG for £630m (€950m). IVG acquired the building for one of i...
