News – Page 1048
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Sainsbury JV to unlock property value
UK - UK supermarket giant Sainsbury’s has entered into a joint venture with property firm Land Securities, aimed at active management of its property portfolio.
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CalPERS commits $250m to int'l opportunity
UNITED STATES - California Public Employees Retirement System has approved a $250m (€171.1m) commitment into the Rockpoint Real Estate Fund III which is currently only holding investments in Japan.
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Fillmore Capital to expand into UK and China
UNITED STATES - Fillmore Capital Partners is looking at expanding its investment operations into the United Kingdom and China for the first time.
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ING warns of knocked confidence in property
UK - Investor sentiment is significantly more uncertain and pessimistic than it was last year, according to ING Real Estate Investment Management.
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Norway seeks real estate expertise
NORWAY – The Norwegian Government Pension Fund – Global has effectively confirmed its intention to invest in real estate by tendering for a real estate investment consultant.
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Industry pushes for EU REIT
EUROPE - Five industry bodies including the European Property Federation (EPF) are pushing the European Commission to introduce an EU REIT regime, in a bid to transform a fragmented European market into “the largest and likely most efficient property market in the world”.
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Pension funds "could power Reits growth"
UK – Assets held by the UK Reits market could double over the next few years if investors such as pension funds sold their real estate assets to the listed market, according to First State Investments.
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REITs momentum shifts to Asia and Europe
GLOBAL - The centre of gravity for REITs has shifted away from the US towards Asia and Europe, according to a report by Ernst & Young.
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CPPIB to make direct bid to airport shareholders
NEW ZEALAND - The CA$120.5bn (€89bn) Canada Pension Plan Investment Board (CPPIB) is to approach Auckland International Airport (AIAL) shareholders directly after the firm called off talks on its bid to acquire a 49% stake.
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DTZ strikes oil with Canada buy
CANADA - As Canadian pension funds continue to invest aggressively in overseas infrastructure, DTZ has announced it is entering the market through the CA$31m (€22.5m) acquisition of property services firm JJ Barnicke.
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Pennsylvania State signs to $1bn Mexico fund
UNITED STATES - Pennsylvania State Employees Retirement System is thinking of making a commitment to a $1bn (€681.3m) Latin America residential fund being launched by Pramerica Real Estate Investors.
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Illinois Teachers widens separate account plans
UNITED STATES - Teachers Retirement System of the State of Illinois is planning a shift in its separate accounts real estate programme when it makes its next manager search.
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Principal study calls end of cap rate compression
UNITED STATES - Principal Real Estate Investors feels that time of the cap rate compression in the United States has run its course, according to a report investigating current real estate market potential.
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Alternative investments to carry more weight - ING
UK - Alternatives sectors are likely to register more on the agenda as UK pension funds seek to gain more exposure to real estate assets, according to ING Real Estate Investment Management.
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Oregon PERF creates structured finance account
UNITED STATES - Oregon Public Employees Retirement Fund has created a new structured finance separate account with Guggenheim Structured Real Estate Advisors worth $900m (€621m).
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Buchanan Street looks to European expansion
UNITED STATES - Buchanan Street Partners is considering investing in Europe for the first time by using the proceeds from a recent sale.
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To Russia, with cash
RUSSIA - Majority pension fund-owned property firm Sponda is to invest up to €400m in Russia by the end of 2009.
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UK property delivers negative return
UK - Real estate delivered a negative return of 1.1% in Q3, according to the IPD UK Quarterly Index – the first in its history – but real estate still outperformed property equities, which had a negative return of –10.3% for the three months to September.
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Quebec pension fund to invest in India office
INDIA - The Caisse de dépôt et placement du Québec, Canada’s largest pension fund, is weeks away from its entry into Indian property as part of a strategy to switch 15% of its portfolio to Indian real estate within 3—5 years.
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BA supports pensions flight with office block
UK – Pension fund of the airline British Airways has bought a recently-completed office development in Birmingham city centre, in a bid to help diversify its asset allocation.
