News – Page 1021
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Italian real estate held ground in H1
EUROPE – The total return of Italian pooled property funds dropped during the first half of 2008 but still managed stay in positive territory of 4.1%, according to the latest results from IPD’s Italian Pooled Property Fund study.
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Brazil’s FUNCEF to tackle equity fall with real estate
BRAZIL – FUNCEF, Brazil’s third-largest pension fund and one of the largest in Latin America, plans to allocate approximately BRL520m (€611m) to the fund’s real estate portfolio in a bid to diversify its assets following a huge drop on its chosen equity index
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Dumfries reviews real estate manager and allocation
UK – Dumfries and Galloway pension fund is looking to appoint a pension fund investment manager to manage up to £45m (€58.2m) in its UK and global property assets.
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Swiss pension funds buy Bern housing land
SWITZERLAND – Swiss pension funds have increased their real estate investments in Bern, by acquiring residential fields for new development projects.
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Market pressures force fund extensions
EUROPE – Non-listed real estate funds are increasingly extending the life of their vehicles rather than liquidating them in a bid to avoid the forced sale of their assets at current low market prices, the European Association for Investors in Non-listed Real Estate Vehicles (INREV) has found.
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European real estate shown as Canadian target
CANADA/EUROPE - Major Canadian pension funds continue to invest in European real estate, despite the credit crunch, as consumer and investor confidence remains high, according to DTZ.
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Los Angeles City seeks a wider view
UNITED STATES - Los Angeles City Employees’ Retirement System has approved two new real estate commitments totaling $45m (€33.1m) which will see the pension fund invest in REITS and Latin America.
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Dallas Police & Fire helps fund retail venture
UNITED STATES - Dallas Police & Fire Pension System is the capital source behind a global capital relationship with its real estate manager CDK Realty Advisors and RED Development, which will invest in retail property.
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Alaska Retirement holds back from real estate
UNITED STATES - Alaska Retirement Management Board has decided not to allocate any new capital to real estate investment in fiscal 2009.
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Cornerstone gets ready to close hotel bookings
UNITED STATES - Cornerstone Real Estate Advisers is getting ready to close the capital raising on its Cornerstone Hotel Income & Equity Fund II, having persuaded investors to commit $466m (€340.5m) to the fund.
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Pennsylvania Public School takes $286m risk
UNITED STATES - Pennsylvania Public School Employees Retirement System has allocated $286m (€210m) in two commingled funds to target high returns in European mortgages and Asia.
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PREA Conference presents a gloomy future
UNITED STATES – The pension fund real estate industry painted a pretty negative outlook for real estate investing at the Pension Real Estate Association’s 18th Annual Plan Sponsor Conference in Chicago last week.
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BP deal squares up to property downturn
UK- BP’s pension fund real estate arm Ropemaker Properties has formed a £100m UK investment fund called Cubemaker Partnership with London-based property company Cube Real Estate, that aims to take advantage of the economic downturn and acquire cheap assets.
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London tops the office expenses
UK - London remains the most expensive office market in the world, according to the latest research by London-based global commercial property investment consultants, CB Richard Ellis (CBRE).
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DEGI continues European expansion
BELGIUM – DEGI, the €6bn German specialist property investment group, has bought a major European Union (EU) office complex in Brussels, in a deal worth €90m.
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Singapore expected to bounce back strongly
SINGAPORE - Singapore remains the centre of choice in Asia for long-term investors seeking stable real estate investment returns, according to a new survey by iProperty.com.
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German investors dominate in falling London markets
EUROPE - The Central London commercial property markets are continuing to fall under pressure from the current financial and economic crisis but indicators suggest overseas investors are still willing to consider deals, according to London-based commercial real estate services firm Cushman & Wakefield.
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Fortis recruits for real estate amid its turmoil
NETHERLANDS - Raymond Satumalay, formerly investment manager at Bouwfonds Asset Management, is joining Fortis Vastgoed Vermogensbeheer, the real estate division of Fortis Insurance Netherlands, as its managing director of fund management.
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Swiss funds still favour real estate
SWITZERLAND – Nine out of 10 Swiss pensions funds are indirectly invested in real estate while the majority also directly invest in the market, according to research from real estate investment specialist Sal Oppenheim.
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CalSTRS prepares for market turn
UNITED STATES - California State Teachers Retirement System is investing capital with existing real estate managers so these firms will have capital ready to place in the real estate market when conditions start to improve.
