News – Page 1000
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Pramerica creates high-yield debt platform
UNITED STATES - Pramerica Real Estate Investors has created a team as part of a move to put together a high-yield debt platform to conduct transactions on a global basis.
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Henderson prepares for two-tier sustainability
UK – Henderson Global Investors is aiming to “future proof” its UK real estate assets against the emergence of a sustainability-led two-tier market, the fund manager announced today in its first responsible investment report (RPI).
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RREEF weigh ups its options over America III
UNITED STATES – RREEF, the real estate investment division of Deutsche Bank, is now considering three different options to help it deal with some debt issues for its open-ended commingled fund, RREEF America III.
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Maine PERS selects ORG as real estate consultant
UNITED STATES - Maine Public Employees Retirement System has selected ORG Real Property as its first ever real estate consultant.
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Tesco makes second property pledge to pension
UK – Tesco, the global supermarket chain, has signed another sale-and-leaseback deal with pension fund trustees, which will see the fund take a 50% stake in assets worth £458m.
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Goodman loses Wilkinson to AEW Europe
EUROPE - Rob Wilkinson is leaving the Goodman Group to head up AEW Europe’s fund management and separate accounts business.
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Progress continues on real estate sale
NETHERLANDS - Progress, the Dutch pension fund of food giant Unilever, has sold three housing complexes in Breda, Groningen and Nijmegen as it continues to divest its directly-held domestic real estate portfolio.
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ZIA enters new era with new president
GERMANY – Andreas Mattner, executive board member at German developer ECE Projektmanagement, has replaced Eckart John von Freyend as president of the German Property Federation (ZIA).
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Pension funds show interest in UK housing
UK – European pension funds who would not traditionally invest in UK rental housing may do so for the first time through an initiative to kick start investment in UK private residential property, according to a UK government body.
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Fresno County acts on concerns about value-added manager
UNITED STATES - Fresno County Employees Retirement Association has changed its mind about the appointment of a real estate manager to look after a $30m (€21.7m) allocation for a value-added investment as it has reservations about the firm’s ability to raise sufficient capital.
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Mass PRIM fires REIT manager
UNITED STATES - Massachusetts Pension Reserves Investment Management Board has terminated its separate account REIT manager relationship with Wellington Management in part on the back of poor performance and awarded a new $40m (€28.6m) allocation to the AFL-CIO Housing Investment Trust Fund.
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Valuers advised to consider all transactional evidence
GLOBAL - Investors have been warned they should ensure firms delivering their valuations take all possible scenarios and evidence into consideration when valuing a property, as leaving certain criteria out could be seen as distorting the market.
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UK residential may be on the up – index fund manager
A real estate investment house has claimed investing in UK residential housing “may have turned a corner”, although physical house price rises are still increasing at a very slow rate.
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Sustainable investment boosted by UNEPFI toolkit
GLOBAL - A new toolkit to guide investors through the process of investing in property in a sustainable manner has been launched by the Property Working Group (PWG) of the United Nations Environment Programme Finance Initiative (UNEP FI).
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AEW boosts research function
EUROPE - AEW Europe, which has €17bn in assets under management, has boosted its research function with the appointment of José Luis Pellicer to head the research function in London
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ATP trains its eye to 'club’ investments
DENMARK – ATP Real Estate still has €300m of outstanding equity to put into the non-listed real estate markets, but has moved its focus away from large commingled funds to club deals with like-minded investors.
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UK commercial loans at risk of covenant breach
UK – More than three-quarters of UK commercial real estate loans could be in breach of their loan to value (LTV) covenants and there could be up to £50bn (€57bn) of negative equity in the market, according to William Newsom, head of valuation at Savills.
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Lewis moves onto next venture
EUROPE – Ric Lewis has left AEW Europe but will continue to advise two of its institutional real estate funds from the helm of new fund management company Tristan Capital Partners.
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Kansas PERS expands into infrastructure
UNITED STATES - Kansas Public Employees Retirement System has made its first ever investment in infrastructure with a $50m (€35.2m) commitment into the Brookfield Americas Infrastructure Fund.
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Germany overtakes UK as biggest European market – IPD
EUROPE - The UK has dropped from second to fourth ranking in the global market, according to IPD.
