All News articles – Page 1175
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News
German corporates to sell real estate to create REITs
REAL ESTATE – Over a quarter (27%) of quoted German corporates had concrete plans to sell their property holdings to create real estate investment trusts (REITs), according to a study by German real estate fund firm DEGI. Legalisation of Ger...
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Ohio Police & Fire issues RFP for independent fiduciary
REAL ESTATE - The Ohio Police & Fire Pension Fund has issued a request for proposal (RFP) for an independent fiduciary to evaluate a portion of its real estate portfolio. The responses are due to the pension fund on or before 3:00 PM eastern tim...
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UK ports report by MPs slams foreign investors
REAL ESTATE – A UK parliamentary committee has urged government caution over attempts by foreign investors to acquire British ports. The recommendation would have blocked Borealis, a subsidiary of Canadian pension fund Ontario Municipal Emp...
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US retirement fund to invest in more international funds
REAL ESTATE - San Bernardino County Employees Retirement Association will be looking to invest more capital into commingled real estate funds that pursue an international real estate strategy. Don Pierce, who is the investment officer for the pens...
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Mars pension fund sells off Nottingham office
REAL ESTATE - Mars Pension Trustees have sold off a four-story Nottingham office block to fund managers Warner Estate Holdings and Morley Fund Management for €23.2m. A spokesman for the UK pension fund declined to comment on the reasons for...
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S&P launches global property index for ‘liquidity and tradability’
REAL ESTATE – Index provider S&P has launched the Global Property 40 Index to provide exposure to 40 leading companies in the global real estate markets. The index is made up of large, well traded, liquid companies from North America, Eu...
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Morgan Stanley sets up senior housing JV
REAL ESTATE - Morgan Stanley Real Estate has created a senior housing joint venture with National Health Care Properties. Dave Hardman is head of US real estate investing for Morgan Stanley. He said, "We feel good about doing business with ...
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BBC’s industrial sale not indicating strategy shift
REAL ESTATE - The BBC’s pension fund in the UK has denied that last week’s sale of 60,000 square foot of real estate on a northeast English industrial estate reflected a tactical move away from industrial as an asset sub-class.
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Regency Centers forms open-ended $1.2bn retail fund
REAL ESTATE - Regency Centers Corporation has formed a new open-ended investment fund called Regency Retail Partners, LP. There is a total of $370m(€286m) of equity in the fund now. One of the largest investors in the fund is GIC Real Estat...
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Morgan Stanley fund buys €400m New York office
REAL ESTATE - Morgan Stanley Real Estate has made a major office building purchase in New York City with the acquisition of the one million2ft. 2 Park Avenue in Midtown Manhattan. The purchase price for the property was $519m(€400m). This w...
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Kodak-backed Halladale posts results 8% up
REAL ESTATE - Halladale, the Scottish real estate firm backed by the Kodak pension fund, posted interim pre-tax profits of £4.12m(€6.4m) – an 8% increase over 2005. The results, covering the six months to the end of October 2006...
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ABP-backed developer builds tallest high-rise for students
REAL ESTATE - UK student accommodation developer UNITE has secured planning permission for the £35m(€53m) second phase of the world’s tallest student accommodation block. The firm, which is 4% owned by Dutch pension fund ABP, will bu...
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CalPERS to participate in new REIT IPO
REAL ESTATE - The California Public Employees Retirement System figures to be part of a new initial public that should be coming to the market in January. The new REIT being created is called Meruelo Maddux Properties, Inc. The total number of sh...
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Mainland European commercial ‘in sweet spot’
REAL ESTATE - Domestic demand will drive out-performance from mainland European commercial property, according to a report published last week by fund manager Seven Dials. Continued macroeconomic growth, low reliance on US trade and strong labour...
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Pramerica creates JV to develop senior living in UK
REAL ESTATE - Pramerica Real Estate Investors has put together a joint venture with Sunrise Senior Living to construct senior living properties in the United Kingdom. Jonathan Short, managing director and head of the group’s European merchan...
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Three pensions players join forces in Finnish fund
REAL ESTATE - Ilmarinen, the €21.6bn multi-employer pension scheme in Finland, has joined with Dutch pension fund ABP and Denmark’s €49.6bn ATP fund in a Finnish property fund set up specifically for them by Aberdeen. The three ...
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REIT and pension fund manager setup retail venture
REAL ESTATE - Ramco-Gershenson Properties Trust and Heitman have created a JV to invest in retail properties in selected markets across the US. The total amount of equity in the joint venture is around $159m(€123m). The equity contributions...
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UBS replaces O’Keefe by Marcuse hire
REAL ESTATE - UBS has appointed AXA Real Estate Investment Managers CEO Paul Marcuse to head its asset management arm’s global real estate business. Marcuse, who will also join the asset management firm’s executive committee, replaces Jam...
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Perennial names van Loen as senior portfolio manager
REAL ESTATE - Perennial Real Estate Investments (PREI) has appointed Boudewijn van Loen as senior portfolio manager Europe. Van Loen, will be closely working with the existing European team of Stuart Pearce and Joseph Daguio, it said. According...
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DIFA to sell €1bn in commercial property
REAL ESTATE – DIFA, a German provider of open-ended real estate funds, has announced plans to sell more than €1bn worth of German commercial properties held by its funds. DIFA said it had already hired Atisreal, the real estate consul...
