News – Page 1056
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HSBC pulls in property team
UK - HSBC Investments has brought in a seven-strong team of fund selection specialists in a move the firm hopes will increase property-hungry investors’ appetite for multi-manager funds. Guy Morrell, who will head the UK-based team, told IP...
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Irish property returns up
IRELANDS - Returns on Irish property reached 16.9% in the year to June, despite a continuing exodus of domestic investors into other European real estate markets. IPD figures published last week showed returns on Irish real estate rose from 2.2% i...
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RREEF predicts new spending in Asia-Pacific
UNITED STATES – Institutional capital will head into new countries within the Asia Pacific region such as Vietnam and Brazil over the next two years, according to research presented by RREEF Details of RREEF’s Asia Pacific Property Cyc...
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BC pension fund buys hotel Reit
CANADA - British Columbia Investment Management Corporation (bcIMC), the investment arm of several Canadian public-sector pension funds, is to acquire a hotel Reit for CA$1.2bn (€800m) in cash. The CA$85bn fund will acquire the Canadian Hot...
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Pension funds prompt access to Skandia property
UK – Skandia is adding an institutional share class to its Global Property Securities fund as pension funds are demanding the ability to invest in it. Ryan Hughes, fund manager at Skandia Investment Managers Limited (SIML), said pension fund...
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Boston purchase adds to DTZ global expansion
UK-US - DTZ, the property advisory firm, is to acquire Boston property brokerage FHO Partners in a bid to broaden its global platform. The three-stage deal involves an initial payment of £2m (€4.2m) for the right to acquire the Massachu...
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ING Clarion seeks healthy gains in medical push
UNITED STATES - ING Clarion Partners is looking to invest at least $200m (€146m) in the medical office building sector in the next several years as the firm believes returns are 1% better than in traditional offices. At this stage, capital ...
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NY State Teachers adds CMBS in $634m commitment
UNITED STATES - New York State Teachers Retirement System has placed $674m (€492.3m) into new real estate commitments through a series of fund investments which includes commercial mortgage-backed securities. NYSTRS’ real estate portfo...
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LACERA resumes global REIT search
UNITED STATES - Los Angeles County Employees Retirement Association is now in the planning stages for a new global REIT manager search worth around $100m (€73.1m). John McClelland, principal investment officer for real estate at the pension ...
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Infrastructure 'moving out of real estate' - RREEF
EUROPE – Pension funds are beginning to regard infrastructure as an asset class in its own right rather than as part its real estate allocation, according to officials at RREEF. John McCarthy, head of RREEF Infrastructure Europe, said Europe...
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ABP discloses budget hotels move after prime acquisition
NETHERLANDS - Dutch pension fund ABP has expanded its base in European hospitality sector with the acquisition of three high-end Belgian hotels.
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IVG sees Parisian charm in €323m deals
GERMANY – IVG Immoblien, Germany’s largest quoted real estate firm, has completed €323m worth of transactions in Paris which included selling an office building on the city’s “Rive Gauche” for €165m and buying two others for €158m.
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Canada pension plan in UK shopping spree
UK - A 50—50 joint venture involving the Canada Pension Plan Investment Board and fund manager Henderson Global Investors has acquired the UK’s Whitefriars Quarter shopping centre for £253m (€375m).
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Texas Teachers consider making money from casinos
UNITED STATES – The Teacher Retirement System of Texas is thinking of investing $550m (€398.1m) into real estate – a move which could include putting money into casinos.
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Orange County commits to timberland
UNITED STATES - Orange County Employees Retirement System has made a selection of two managers to invest $140m (€102.2m) in timberland assets.
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Investors go for Euro-niche as leverage lessons
EUROPE - Despite market saturation in the UK and declining yields elsewhere in Europe, “the wall of money” surrounding real estate is showing few signs of collapse, claimed a report published last week by UK property firm Knight Frank.
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Jamestown Group to go after institutional investors
UNITED STATES - The Jamestown Group is going after the institutional investor capital source for the first time as it teams up with Griffin Realty Advisors to form the Griffin Realty Fund.
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Ohio State Teachers maintains real estate for 2008
UNITED STATES- State Teachers Retirement System of Ohio has approved a real estate investment plan for fiscal 2008 which should see the pension fund maintain its annual allocation and move into global Reits.
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Pension funds switch targets to gain returns
UNITED STATES – Pension funds are continuing to invest in real estate but may not follow their original allocation strategies in stable markets, suggest figures related to one US pension fund.
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Texas Teachers consider making money from casinos
UNITED STATES – The Teacher Retirement System of Texas is thinking of investing $550m (€398.1m) into real estate – a move which could include putting money into casinos. Rob Kochis, a principal with real estate consultant The Tow...
