All News articles – Page 1189
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News
Annington bank consortium securitises €5.4bn in loans
Germany – Banks that have financed German property acquisitions by UK private equity firm Terra Firma are to sell €5.4bn worth of bonds backed by those properties in Germany’s biggest commercial mortgage backed securities transactio...
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Apollo raises US$700m of equity for new commingled fund
US - Apollo Real Estate Advisors has raised US$700m (€546.6m) of equity for its latest commingled fund, Apollo Real Estate Investment Fund V. This is US$200m more than it had originally targeted when the money raising was started. One perso...
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Corio acquires retail centre Barcelona
Corio has reached agreement on the acquisition of Barcelona’s seaside retail centre Maremagnum, the €4.6bn real estate fund announced. Bar the formal approval of the town’s port authority, Corio will get control over the €1...
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Warner-Smith joins Invesco to manage UK assets, hotels
Quentin Warner-Smith has joined Invesco as a senior asset manager on the firm’s Property Income Trust (IPIT). In his new role, Warner-Smith will develop and implement strategies for the fund, which has around 50 investments in industrial (i...
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Benson Eliot steps up recruitment
Benson Eliot Capital Management, the private equity real estate firm, has appointed two partners aimed at boosting its team ready for an acquisition spree at the end of the summer. Philip Irons, former head of direct property transactions at Schr...
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Hermes retail boss joins CBRE
Andrew Martin is to join CB Richard Ellis’s investment committee after he retires as Hermes’ retail group director next month. In his new non-executive role – which he takes over from James Hysop, who is retiring – Martin ...
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BPF sets up REITs taskforce
The British Property Federation (BPF) is to establish a taskforce to “maintain the momentum” of its campaign for UK REITs. Given that legislation allowing the first UK REIT from January next year is likely to pass this month, it is le...
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Pramerica sets up a joint venture to buy large senior housing complex
US - Pramerica Real Estate Investors (PREI) has put together a joint venture with American Retirement Corporation to acquire the Freedom Village senior housing property in Bradenton, Florida. The total size of the transaction was US$95m (€74...
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Indian and China expansion for Emaar
Emaar Properties is stepping up its development plan for the Asian region. According to Shravan Gupta, MD of the Indian joint venture Emaar MGF Land, the Dubai-based group is planning to build on the already substantial investments it has made outsid...
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Cordares Vastgoed to focus on indirect real estate
Cordares Vastgoed, the real estate branch of pensions manager and income insurer Cordares, is repositioning itself in the market, with a focus on indirect real estate, it said. “We are changing into a lean and mean organisation, which will c...
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Danish insurer sells up, moves to London
PFA Pension, Denmark’s largest insurer, has agreed to sell its residential portfolio for an undisclosed figure to a consortium of Danish real estate firm CenterPlan and Deutsche Bank’s RREEF. The divested portfolio comprises 43 pr...
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UK ‘will remain principal European market’ – DTZ
The introduction of REITs will ensure the UK continues as Europe’s principal real estate market, according to property firm DTZ – despite a predicted slight fall in investment from €71bn to €65bn in 2006. In 2005 the UK ac...
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Pension funds to exploit sustained Nordic growth
European pension funds will be the primary investors in a pan-Nordic real estate SICAV to be launched by Aberdeen in the next few weeks. Philip Ingman, managing director of Strutt & Parker Real Estate Finance Services (SPREFS), which is advis...
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GMPF tests property management market
Greater Manchester Pension Fund – the largest local authority pension fund in the UK – is scouting a real estate manager-cum-consultant for its property venture fund. The tender is designed to keep the current incumbent – which ...
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Oppenheim plans E1bn investment in new properties
GERMANY – Oppenheim Immobilien-KAG, Germany’s leading provider of property funds for institutional investors, plans to invest €1bn in new properties in 2006, 30-40% of which will go to retail stores, according to OIK chief executive...
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Adler in bid to widen ownership
German property firm Adler is to increase its capital in a bid to improve liquidity and raise funds for unspecified acquisitions. The firm will issue 5,000,0000 non-par shares, in addition to the current 10,000,000 shares. Majority shareholder Jo...
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Swedish insurer buys Akzo Nobel’s Stockholm property
Swedish insurer Länsförsäkringar Liv has acquired Swedish conglomerate Akzo Nobel’s Stockholm offices for €30m. Humlegården Fastigheter, the insurer’s real estate arm, will lease back much of the 17,000 squar...
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Pension fund backs Italian independence
EUROPE - Cordea Savills last week announced that it had found a cornerstone institutional investor for Italian Opportunities, a closed-end Luxembourg real estate SOPARFI. The fund is looking to raise €200m for single-asset and portfolio ac...
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CalPERS looks to Europe for reasons to spend
US - The California Public Employees' Retirement System (CalPERS) is to boost its $11.6bn real estate allocation with opportunistic investments in cross-category European real estate, a spokesman for the fund said.
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Japanese investment set to increase – still a key destination for foreign capital
Japan - Japanese REITs are set to boost the already substantial cross-border investment flows in Asia. From 2007, they are expected to be free to acquire foreign properties and incorporate them into their portfolios.
