News – Page 1005
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Reita claims residential Reits are a good buy
EUROPE - Institutional investors should consider investing in residential property as an asset class and push for residential Real Estate Investment Trusts (REITs), according to Reita’s panel of property investment experts.
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ProLogis continues deleveraging drive
US – ProLogis, the North American industrial property developer, has gained further ground in its de-leveraging process after receiving a second round of proceeds from its Asian transactions.
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Real estate has to go 'back to basics' – E&Y
US – Real estate companies face fiercer competition now than ever before and would benefit from adopting a “back to basics” approach to emerge stronger from the financial crisis, according to Ernst & Young (E&Y).
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Invesco appoints new research heads
US - Invesco Real Estate is expanding its global reach with the appointment of Mark Roberts as global director of research and Mike Sobolik as regional director or research in North America.
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Merseyside reviews property adviser
UK - Merseyside Pension Fund has announced it is looking for a strategic property investment adviser for its £262m (€278m) direct UK property portfolio.
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Currency volatility could encourage local investing - CBRE
UK – UK institutional property investors are considering making more domestic investments, according to CB Richard Ellis, as continental European holdings are becoming increasingly overweight thanks to wild currency fluctuations.
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CalPERS sees demand for member mortgages triple
US – California Public Employees’ Retirement System’s (CalPERS’) Member Home Loan Programme has tripled in size over the last year thanks to its conservative mortgage practices, according to CalPERS’ Investment Committee.
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TIAA-CREF sees gains in sustainability
UNITED STATES – TIAA-CREF Global Real Estate’s energy benchmarking initiative has helped increase the real estate portfolio’s value by improving energy intensity by 3.6%.
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Norway sees property slip into the red
NORWAY –Norwegian commercial property returns fell into negative territory in 2008 after delivering 15% plus returns for three consecutive years, according to the IPD Norway Annual Property Index.
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Franklin Templeton raises $380m for Asia
ASIA – Franklin Templeton Real Estate Advisors has closed its $383m (€280.7m) private equity Asian Real Estate Fund and aims to take advantage of market corrections to buy up bargains.
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LaSalle signs Northern Europe head
EUROPE - LaSalle Investment Management has appointed Insa von Jürgensonn as regional director and head of portfolio management for Northern Europe.
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FTSE merges real estate funds
GLOBAL – FTSE Group has rebranded the FTSE EPRA/NAREIT Global Indices to combine developed and emerging subsets.
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DTZ closes offices as pressure bubbles
GLOBAL – DTZ has warned there is likely to be a ”significantly greater” profit loss for the year to the end of April 2009 than expected, and is subsequently continuing to restructure the business in a bid to cut costs.
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Mexican pensions to focus on home properties
MEXICO – Mexican pension funds have agreed to only invest in domestic investments this year and will focus on investing in real estate to help boost the struggling Mexican economy.
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SanFran PF sees real estate portfolio fall 5.6%
UNITED STATES - San Francisco City and County Employees’ Retirement System saw real estate portfolio fall by 5.6% during the fourth quarter of 2008 alone.
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Contra Costa reviews Morgan Stanley deal
UNITED STATES - Contra Costa County Employees’ Retirement Association has decided to reconsider its earlier $75m (€57.9m) commitment to the Morgan Stanley Real Estate Fund VII Global.
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State-owned Hypo touted as potential property lift
GERMANY – Experts claim Hypo Real Estate’s (HRE’s) possible nationalisation could help boost the German property market.
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DEGI to target discounted potential
GERMANY – Deutsche Gesellschaft für Immobilienfonds (DEGI), a part of Aberdeen Property Investors, is planning to take advantage of discounted property prices to expand its property portfolio.
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Ahorro to create and market a 'property bad bank'
SPAIN – Ahorro Corporación, the financial services arm of Spain’s savings banks, has launched a new vehicle to dispose of over €3bn of defaulted properties on behalf of its banks.
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AEW Europe signs new CEO
EUROPE – AEW Europe has appointed Christian Delaire to replace François Pochard as chief executive officer and develop its real estate investment management business.
