News – Page 1058
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Phillips Edison to market new commingled fund
UNITED STATES - Smaller retail properties are among the most difficult for pension funds to buy on their own in the United States – at least that is what Phillips Edison & Company is banking on as it prepares to market its next commingled f...
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West Midlands awards ING £560m property mandate
UK - The £7.8bn (€11.6bn) West Midlands Metropolitan Pension Fund has awarded ING Real Estate a £560m advisory mandate to manage its UK direct property portfolio. The deal – one of UK’s largest pension fund property man...
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ING Clarion to create global opportunity space
UNITED STATES - ING Clarion Partners is establishing a global opportunity platform with the hiring of David Gilbert as a managing director and portfolio manager. This new entity will see the real estate manager pull together opportunity funds to i...
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CalSTRS seeks tripled exposure to tap overseas growth
UNITED STATES - California State Teachers Retirement System is making a significant move to almost triple its exposure to international real estate over the next four years to tap the investment potential of office space. The pension fund believes...
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Pension funds take careful steps with real estate
EUROPE - Pension funds may display more caution in their real estate investment decisions over the coming months because of emerging signs of a slowdown in yield returns. Hans Op’t Veld, senior investment strategist for structured investment...
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Investors eye Asia over Europe
GLOBAL - Pension fund cash will continue to pour into European real estate at least to the end of the year but there is fresh interest in the Asian market, according to preliminary figures published by Jones Lang Lasalle (JLL). Direct property tra...
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No euro greenbacks for green building
EUROPE - Pension funds are increasingly concerned with sustainability issues in real estate investments but doing nothing about it, according to a report commissioned by the European Social Investment Forum (Eurosif). Eurosif executive director Ma...
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Private equity wins student halls contract
UK - Private equity firm UPP last week won a contract to build undergraduate accommodation for the UK’s Loughborough University – an indication of increasing competition in a market gained momentum as a niche within a saturated real estat...
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German transactions top €26bn in H1
GERMANY – Commercial property transactions in Germany totalled €26.4bn in the first half – a 34% increase over the same 2006 period – and should reach €50bn for the full year, US broker Jones Lang LaSalle (JLL) has repor...
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VastNed Offices eyes German market
GERMANY - Property investor VastNed Offices-Industrial wants to expand its German office portfolio up to €500m, the firm has announced. The company’s German portfolio has now hit €90m thanks to a recent acquisition - a €37....
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Valencia Capital pumps $250m for medical targets
UNITED STATES - Valencia Capital Management has raised $250m (€183.8m) for its commingled fund, Next Block Medical Fund I, through strong support from pension funds. Lead investor in the commingled fund is California Public Employees Retirem...
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San Diego makes its first overseas play
UNITED STATES - San Diego City Employees Retirement System has approved its first ever international real estate investment by allocating $30m ($22m euros) to the Colony Investors VIII commingled fund. San Diego City is expected to make at least o...
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CB Richard Ellis Investors creates M&A team
UNITED STATES - CB Richard Ellis Investors has hired two people to create a new mergers and acquisitions team within its company. The real estate manager has enticed Deborah Smith and June Yu away from Lehman Brothers to become senior managing dir...
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Morgan Stanley buys Daewoo Korea HQ
KOREA - Morgan Stanley is to boost its property investments in the Korean market with the acquisition of Daewoo Engineering Headquarters in the capital, Seoul, for 960bn won (€0.76bn). AHI Holdings, a real estate fund managed by the bank, w...
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Hilton delisting likely after Blackstone acquisition
GLOBAL - Hilton Hotels could de-list early next year after Blackstone last week agreed to acquire the hospitality group for $26bn (€19bn).
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UK investors sell in dwindling market
UK - Rising interest rates will significantly slow leveraged investment in UK real estate at least until 2008, according to a report published by Jones Lang LaSalle (JLL). Despite investment in the first half of 2007 above €27bn – matc...
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Asian property ‘world’s strongest performer’
ASIA - A softer-than-expected landing and supply limitations will continue to boost real estate rental growth across Asia, according to a report published by RREEF. Deutsche Bank’s real estate subsidiary said expansion of the financial serv...
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Glasgow fund monitors underperforming managers
UK - The £9.73bn (€14.4bn) Strathclyde Pension Fund has put Edinburgh-based Baillie Gifford and Isle of Man’s Capital International under watch because of underperformance. Baillie Gifford manages £1.57bn or 16.1% of the t...
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Stockbridge brings in executives to take on RREEF
UNITED STATES - Several former executives RREEF North America are hooking up with Stockbridge Capital Group in September in a bid to build an operation rivaling their former employer. Steve Steppe, former chairman of RREEF’s North America op...
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Washington State makes two real estate moves
UNITED STATES - Washington State Investment Board is taking action to make two significant real estate deals which give it additional US and global investment positions. The pension fund will commit another $500m (€368m) with Evergreen Real ...
