News – Page 1032
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Morgan Stanley to invest $4bn in infrastructure
UNITED STATES - Morgan Stanley has raised two-thirds more than originally intended for its global commingled fund, known as Morgan Stanley Infrastructure Partners, as investor demand created fund flows worth a total $4bn (€2.56bn).
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Subprime crisis 'took heat out of CEE'
VIENNA/CEE – The impact of the subprime crisis on stock markets helped reduce overpricing and overheating in the Central and Eastern European real estate markets, delegates at the Vienna Real have agreed.
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Finnish fund in quest for UK real estate
FINLAND – A Finnish pension fund is looking for managers for a £150m (€189.5m) UK real estate mandate, using IPE Quest.
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JPMorgan raises $600m for China fund
UNITED STATES - JPMorgan Asset Management raised in excess of $600m (€380.6m) for its latest commingled fund, the JPMorgan Greater China Property Fund.
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Illinois Municipal sees value in adding funds
UNITED STATES - Illinois Municipal Retirement Fund is moving $150m (€95.1m) of assets into value-added commingled funds.
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Ohio School Employees signs on for Reits
UNITED STATES - School Employees Retirement System of Ohio has selected Invesco Real Estate and ING Clarion Real Estate Securities as global Reit managers.
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Rockpoint takes up residence in Park Avenue
UNITED STATES - Rockpoint Group LLC has added a new regional office with the opening up of a New York City venture on Park Avenue.
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Investors 'should target ports'
EUROPEAN - Location, and not the growing differential between prime and secondary assets, is driving pricing in European logistics, according to a report published by Jones Lang LaSalle.
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UK 'real values' yet to see full impact
UK - The UK property market is approaching fair value, but it has yet to face the fall-out from an economic downturn, according to British Land CEO Stephen Hester.
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Russia to weather credit crisis
EUROPE - Moody’s last week issued an 18-month ‘negative’ rating for European real estate, blaming “fundamental credit conditions” – but claimed Russia would continue to offer value for investors.
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Cambodia is the new Vietnam
CAMBODIA - International investors in Asian real estate are looking beyond the rapidly saturating Vietnamese market to Cambodia in search of macro-driven investment opportunities.
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Europeans escape US in Asia
ASIA - Pension funds are increasing their exposure to Asian property in a bid to escape the US-led economic downturn.
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Corio expects equalled 2008 result
NETHERLANDS - Property investor Corio expects its 2008 results to be in line with last year’s return, after announcing its 2007 performance gained 2.7% to over €203m.
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ING Clarion sees guarded US investors
UNITED STATES- ING Clarion Partners believes any pension funds in the United States are going to be taking a very cautious approach to investing in real estate this year.
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New York Common looks at urban space
UNITED STATES - New York Common Retirement Fund has made a $285m (€182.1m) commitment to the JP Morgan Star Lake Fund I, which invests in urban real estate across the major US metropolitan markets.
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Louisiana Teachers places $125m in “real assets”
UNITED STATES- Teachers’ Retirement System of Louisiana has placed $125m (€80.2m) into new real estate investments, as part of its unique view of real estate investing.
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Los Angeles City eyes €200m for real estate value
UNITED STATES - Los Angeles City Employees’ Retirement System has decided to allocate $200m (€127m) to $220m into real estate as part of its real estate annual plan for 2008.
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San Francisco reduces real estate flow by $550m
UNITED STATES - City and County of San Francisco Employees’ Retirement System has reduced significantly the amount of capital it is investing in real estate for the 2008/2009 fiscal year.
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Outgoing Clwyd adviser rewarded for real estate success
EUROPE – Clwyd pension fund’s independent adviser is leaving his role on a high note next month as the Welsh local authority fund was crowned the king of IPE Real Estate’s Awards in Berlin yesterday, winning four awards including Best European Institutional Investor.
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LGPI allocates €75m to Asian property
FINLAND – The Finnish Local Government Pensions Institution (LGPI)has invested $75m (€48m) into an Asian real estate fund of funds managed by Aberdeen Property Investors (API).
