News – Page 1059
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Ohio School Employees schedule annual real estate plan
Ohio School Employees approves annual real estate UNITED STATES - School Employees Retirement System of Ohio has approved a new annual plan to invest around $100-$150m (€73.4m-€110m) in real estate for fiscal year 2008. The pension ...
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Pennsylvania Public School approves Euro commitment
UNITED STATES - Pennsylvania Public School Employees Retirement System has agreed to invest 25% of the committed capital into the Carlyle Europe Real Estate Partners III commingled fund, as long as the total is no more than €200m. Working in...
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Walton Street closes on CalWest industry
UNITED STATES - Walton Street Capital has completed the $2.8bn (€2.06bn) acquisition of the CalWest Industrial portfolio. Leverage of around 85% was placed on the transaction while yield was in the region of 5%, to factor in the existing inc...
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Austrian firm to launch G-REIT by spring 2008
GERMANY – Austrian real estate firm CA Immobilien intends to launch a German real estate investment trust (G-REITs) by next spring that will have between €1.5bn and €2bn in assets. In a statement, CA Immobilien said between 26% a...
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IPE-QUEST: $100m REIT mandate
NETHERLANDS – A Dutch institutional investor is looking for a real estate manager via IPE-Quest. The mandate is for an active $100m (€73.8m) US and Canada real estate mandate benchmarked against the FTSE EPRA NAREIT North America TR In...
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Rabobank scheme plots its real estate future
NETHERLANDS - The Stichting Pensioenfonds Rabobank has started to invest in plots of land, to create future building opportunities for its property investments. Details of the firm’s annual report reveal the €10bn scheme has acquired 2...
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Enpam offloads real estate
ITALY - Enpam, the Italian pension fund for doctors and dentists, has sold a 29-property portfolio for €305m. Pirelli Real Estate acquired the portfolio with holder Global Opportunities Fund II, a fund managed by Deutsche Bank subsidiary RRE...
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Germany ‘still offers best opportunities’
GERMANY - International Real Estate (IRE) has ruled out expansion outside German property despite recent investor jitters over market underperformance. This vote of confidence came as the AIM-listed investment firm posted year-end pre-tax profits ...
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RREEF takes to the road for €1.3bn
EUROPE - RREEF Infrastructure has acquired 50% of German motorway service operator Tank & Rast for a reported €1.3bn. The acquisition, from private equity firm Terra Firma, includes 390 motorway service stations across Germany. John ...
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US real estate investment to slow
UNITED STATES - Mercer Investment Consulting is expecting less pension fund money to enter the US real estate markets this year. According to Real Estate newsletter, the market has matured sufficiently to expect inflows of assets will now slow, sa...
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Rodamco moves into Le Havre docklands
FRANCE - Rodamco Europe has agreed to acquire a large shopping and leisure centre under development in the Le Havre harbour area, the firm has announced. The €10.6bn company said it has signed an agreement with Vinci Immobilier and ING Real ...
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Morgan Stanley fund reaches $8bn height
UNITED STATES - Morgan Stanley Real Estate has raised $8bn (€5.94bn) for its most recently-completed international commingled fund MSREF VI International. – the largest sum ever raised for a single real estate fund. Capital raised was ...
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Germany is ING’s prime office market
GERMANY - ING Real Estate has allocated Germany as the most important market for its European Office Fund, fund manager Leo Weidenaar said. "Since its economy is recovering very fast, Germany offers big opportunities. After entering the Germ...
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Pennsylvania State Employees pursues opportunity
UNITED STATES - Pennsylvania State Employees Retirement System has approved a $50m (€37.1m) commitment into the Rockpoint Real Estate Fund III by recycling its capital. Principal at The Townsend Group, Rob Kochis, has been working with the p...
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Orange County Employees places $116m
UNITED STATES - Orange County Employees Retirement System has approved real estate investments totaling $116m (€86.4m) to be invested in a mixture of public and private real estate. The pension fund approved $75m of capital to be managed by ...
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Cornerstone to market new hotel fund
UNITED STATES - Cornerstone Real Estate Advisers is to begin the marketing process for its next commingled fundraising. The real estate manager is looking at raising around $400m ($297.1m euros) to $600m through the Cornerstone Hotel Income and Eq...
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AMB completes initial capital for European fund
UNITED STATES – European pension funds were key investors in the initial fund-raising period for AMB Europe Fund I commingled fund, according to AMB executives. John Roberts, president of AMB Capital Partners, said around 95% of the capital ...
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Wall of money to stay firm for 2007 - DTZ
EUROPE - A report published by DTZ offers a largely optimistic prognosis for growth in European real estate markets – at least in 2007. The report, entitled Money into property, said a 25% increase in global investment transactions worth $6...
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Ambitious Italian fund targets 20% returns
ITALY - Managers of two funds launched last week claim they can harness scarce Italian real estate assets to generate well-above-average returns for pension fund investors. Cordea Savills’ Italian Opportunities Fund II will target returns o...
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Reed Smith targets Europe with DLA finance hire
UK - Terry Green is leaving London law firm DLA Piper to head up a major push into Europe for rival real estate lawyers Reed Smith Richards Butler. Speaking to IPE Real Estate earlier today, Green confirmed he will be leaving DLA Piper’s rea...
