News – Page 1036
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Pension funds eyed for regional infrastructure
UK - Pension funds could be targeted for investment in a £1bn (€1.25bn) UK regional fund, set up to invest in small-scale and transport infrastructure projects.
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NZ scotches CPPIB airport deal
NEW ZEALAND - Canada Pension Plan Investment Board (CPPIB)’s long-running attempts to acquire a stake in Auckland International Airport (AIAL) collapsed last week after the New Zealand government refused to approve its application under the Overseas Investment Act.
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Sponda goes to the docks
FINLAND - Finnish property firm Sponda has agreed a €12m deal with the Port of Helsinki to build a harbour service centre at Vuosaari.
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INREV plans Asian expansion
EUROPE - The European Association for Investors in Non-listed Real Estate Vehicles (INREV) is to expand into unlisted Asian property.
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Direct property is a winner for SPOV
NETHERLANDS - Direct property was the best returning asset class of the €2.4bn pension fund for public transport SPOV in 2007, generating a return of 11.4%.
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IPE Real Estate Awards seeks outstanding contributions
There's only a few days to tell us who YOU think should be rewarded for their outstanding work in Europe’s Real Estate Industry over the last 18 months.
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Urdang raising hit by European pensions retreat
UNITED STATES - Urdang Capital Management did not reach the expected initial capital raising for its latest commingled fund, the Urdang Value-Added Fund II.
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Swiss pensions increase AIFAA’s US play
UNITED STATES/SWITZERLAND - AIFAA, an investment company backed by 12 Swiss pension funds, has doubled the size of its real estate portfolio in the United States by acquiring two properties in all-cash deals for $72m (€45.9m).
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VastNed forced to reconsider takeover
NETHERLANDS - VastNed Retail, the €1.8bn property fund, has beenforced by majority shareholders, such as pensions investor PGGM, tore-consider its initial refusal to a takeover bid.
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New York stores assets in Europe
UNITED STATES - New York Common Retirement Fund has added European self-storage properties to its real estate investment program for the first time with the acquisition of a 51% interest in Public Storage’s Shurgard Europe operations.
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Pension fund shops for real estate via AEW-Weingarten JV
UNITED STATES - AEW Capital Management and Weingarten Realty Investors have formed a $229m (€144.2m) partnership for the recapitalization of a US-based retail portfolio, which is expected to benefit an unnamed US pension fund.
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Texas Teachers applies $600m to non-core property
UNITED STATES - Teacher Retirement System of Texas approved $600m (€382.1m) of new real estate commitments in March to non-core real estate commingled funds.
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Finnish PFs invest in Portuguese retail
FINLAND/PORTGUAL - Finnish investors, including the €24.3bn Local Government Pensions Institution and pension insurer Ilmarinen, are among the reference investors in a Portuguese shopping centre fund.
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Teeside "may up allocation"
UK - Teesside Pension Fund is mulling an increase to its real estate allocation as it has issued a tender for the management of its £95m (€120m) directly-held UK portfolio.
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European capital shifts to Bavaria
GERMANY - Fidelity is shifting its pan-European real estate operations to Munich, in an expression of confidence in the recovering German property market.
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Pension funds are "comfortable" with global investment
GLOBAL - Pension funds are increasingly comfortable investing in overseas markets they see as subject to increasingly global standards of transparency, according to Standard Life Investments.
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Norway pension fund allocates 5% to real estate
NORWAY – Europe’s largest pension fund, the NOK2136bn (€267bn)Norwegian Government Pension Fund – Global, has said it will switch 5%of its asset to real estate, while moving more money into emerging markets.
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Blackstone creates $10.9bn real estate fund
GLOBAL - The Blackstone Group has closed its latest real estate fund and achieved capital commitments totally $10.9bn (€6.93bn) - an impressive total during a difficult time for fund-raising.
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Europe wins lion’s share of real estate inflows
EUROPE - Europe was the major target of global capital flows for real estate transactions in 2007, capturing 40% of the total $339bn (€215bn) in real estate transactions last year, according to data released by Real Capital Analytics (RCA).
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US REITs see turnaround
US – Real Estate Investment Trusts may be staging an investment comeback and breaking out of the trough they were stuck in for the last three quarters of 2007, suggest figures released by the National Association of Real Estate Investment Trusts (NAREIT).
