News – Page 1055
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Schroder hires ABP’s Bingen
EUROPE - Former ABP portfolio manager Rob Bingen will join Schroder Property in October as head of its €2.2bn European property multi-manager operation.
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CalPERS considers major real estate emigration
UNITED STATES – The California Public Employees Retirement System is thinking of expanding overseas and moving its international real estate allocation from its current 20% level to a 50% weighting.
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Morley set for European growth
EUROPE – Morley is looking to boost its business in Europe further with 'more people on the ground' and a potential eastward expansion of its property business.
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Neste scheme may invest abroad
FINLAND - The Finnish Neste Oil pension fund said it is considering investing outside its domestic property market as it looks towards completion of three new buildings in Keilaniemi, Espoo, to house its sponsor.
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Brussels yields remaining deals
BELGIUM - ING Real Estate has entered the Brussels office market with the €22m acquisition of two recently refurbished and fully-let prime office buildings.
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'Strategic' greenfields tap into residential potential
UK – Pension funds seeking slightly higher returns on real estate portfolios are being encouraged to turn their attention to ‘strategic land’ investments in greenfield developments.
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Allianz raises €1.3bn in IVG leaseback
GERMANY – IVG Immobilien, Germany’s biggest listed property firm, has acquired €1.3bn worth of office properties in Germany from insurance giant Allianz to be included in an upcoming German real estate investment trust (G-REIT).
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Oregon PERF to increase real estate presence
UNITED STATES - Oregon Public Employees Retirement Fund has moved its targeted allocation for real estate from 8% to 11%, giving the pension fund an extra $1.8bn (€1.3bn) of new capital to invest.
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More US pension fund capital heads for global REITs
UNITED STATES - Massachusetts Pension Reserves Investment Management Board and Wisconsin State Investment Board have become the latest pension funds in the United States to plan a global REIT strategy.
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Illinois Teachers schools overseas growth
UNITED STATES - Teachers’ Retirement System of the State of Illinois is close to reaching its international real estate allocation as the fund has now approved a further three investments totaling $250m (€184m) into commingled funds.
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Morgan Stanley buys a place in assisted homes
UK - Asset manager Morgan Stanley is moving into the UK senior living space through a joint venture worth $1.1bn with established real estate services firm Sunrise Senior Living. This is the first such assisted living market deal in the UK a
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European appreciation to slow gains in global property
GLOBAL – Invested real estate market is expected to grow by almost 40% in value over the next five years but the European market is likely to see a reduction is appreciation, according to research presented by RREEF. Details of the latest qu...
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Turkish retail market growth 'needs work' - VastNed
TURKEY-NETHERLANDS - Expansion into the Turkish retail market could take more work than initially expected, the €1.8bn property investor VastNed Retail has indicated. "The market is not fully ready yet for institutional investments as...
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Cap rates unchanged by debt market volatility
UNITED STATES – Real estate investors are now turning their attention to returns as cap rates on real estate investments in the United States were unaffected through the second quarter despite earlier volatility in the debt markets, suggests Pr...
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Real estate boosts ING's assets
GLOBAL – Dutch banking group ING saw the assets under management in its real estate division increase by 37% to €74.7bn over the last year. The "ongoing demand for property investment funds at ING Real Estate" led to strong i...
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Nieuwe Steen eyes foreign investments
NETHERLANDS - Property investment company Nieuwe Steen Investments (NSI) is considering extending its activities across the Dutch border in order to improve its returns. "Given the extreme price level and rising interest rates, the options f...
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Mexico industrial market offers strong opportunity
UNITED STATES - Pension funds in the United States are increasingly looking at the Mexican industrial market as a solid investment opportunity. Rob Kochis, principal with real estate consultancy The Townsend Group, said the Teacher Retirement Syst...
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Contra Costa County to cross Reits border
UNITED STATES - Contra Costa County Employees’ Retirement Association has decided to take its US REIT investment program to the global stage. The pension fund will be conducting a search for REIT managers over the next few months, according ...
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IVG plans office move into G-Reit
GERMANY – German real estate investment firm IVG Immobilien is expecting to convert its office assets into a real estate investment trust (Reit) but not before Spring 2008, according to the firm’s first half financial results. Details ...
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Market slowdown bring unitised redemptions
UK – Returns on pooled property remain strong but there was a significant increase in the outflow of money from UK property funds in the second quarter of this year, according to figures from the Association of Real Estate Funds (AREF). Infl...
