News – Page 1062
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CalSTRS shifts focus of real estate allocations
UNITED STATES - California State Teachers Retirement System is changing the overall composition of its real estate portfolio to introduce publicly-traded investments as a portfolio segment. At present, CalSTRS has core real estate make-up of betw...
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Population decline could hit office space demand
EUROPE – Pension fund investors will need to be more selective about the property investments they make in the future as a decreasing European labour market is likely to slow the growth of demand for office space, according to the University of...
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E.on crowned top European real estate pension investor
EUROPE - E.on’s GPS service was the runaway winner of the evening at this year’s IPE Real Estate Awards as it picked up no less than five real estate investment awards and was named the Best European Pension Fund 2007. Presented at the...
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Value-add sole UK strategy
UK - Institutional investors – including pension funds – are getting more involved to decisions made by real estate fund managers as value-adding strategies become the differentiator between UK funds, according to Arlington Securities.
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Washington State commits $300m to opportunity fund
UNITED STATES - Washington State Investment Board has approved a commitment of up to $300m ($223m euros) into the Fortress Investment Fund V. Having agreed the action at its board meeting on May 17th, the investment will be split to give directly ...
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Ohio PERS moves ahead with real estate plan
UNITED STATES - Ohio Public Employees Retirement System is making some headway in its plans to invest $1.35bn ($1.004bn euros) in real estate this year. The pension fund had allocated $300m to invest in closed-ended commingled funds in 2007 as we...
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Corio sees net profits rise 44.3%
NETHERLANDS - Net profits of property investor Corio rose by over 44% to over €97m during the first quarter, the company announced. Compared to the first quarter of last year, net rental income increased 10.5% to €78.9m and there were ...
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US fund manager exploits UK appetite for equities
UK - US property fund manager Cohen & Steers has set up a London office to capitalise on pension funds’ burgeoning appetite for indirect investment. The office will target continental as well as UK pension funds but asked if the timing...
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REITS squeeze UK’s remaining value
UK - Two UK property REITs have reported positive annual returns but diverged on forecasts for the UK market. British Land reported an annual return of 21.3%, with a 13% year-on-year pre-tax profits increase to £257m. The firm, which conv...
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Pramerica adds presence in Mexico
MEXICO - Pramerica Real Estate Investors is expanding its investment operations in Mexico with a new strategic alliance with Industrial Global Solutions de Mexico SA de CV. Pramerica anticipates it will invest in one to three million square feet ...
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FTSE tunes its radar to EM
GLOBAL - FTSE is looking at extending its series of indices linked to the listed global real estate market to cover the emerging markets and smaller caps sectors. Gareth Parker, head of index design at the FTSE Group, said the information provider...
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Morgan Stanley widens its real estate presence
GLOBAL - Morgan Stanley Real Estate is making its first move into Poland and expanding operations in Brazil, just as it is thought to be completing its biggest ever real estate fund launch. The real estate manager has acquired a 25% stake in WAN ...
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"Patient capital" should fund infrastructure - OECD
GLOBAL - Governments should encourage pension funds to bankroll global infrastructure in the wake of inadequate public investment, according to a report published this month by the OECD. Based on a two-year study, the report suggested tapping pens...
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Real estate contributes 10% of total return
GLOBAL - Investing in global real estate contributes over 115 basis points or 10% to a pension fund’s annual total return, according to evidence presented by Ibbotson Associates. A study of global real estate past performance conducted by th...
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PGGM to co-invest in US residential property
UNITED STATES - The €83bn Dutch healthcare pension fund PGGM has linked up with US property investor Behringer Harvard in a €74m co-investment deal. Under the agreement, PGGM will invest in a geographically diverse portfolio of apartme...
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VastNed Retail profits from boost in indirect results
NETHERLANDS - Property investor VastNed Retail returned €48.4m during the first quarter, mainly thanks to a 79% rise in indirect results, it said. The company expects the direct investment results over the whole year to be slightly higher th...
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CalPERS invests $490m in three real estate strategies
UNITED STATES- California Public Employees Retirement System has agreed to invest $490m ($361.7m euros) into three separate real estate strategies. This is a follow on investment for CalPERS of $190m into the Hines European Development Fund II, ha...
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Increased pension fund capital heads for student housing
UNITED STATES- There are increasing signs of additional pension fund capital moving into the student housing sector. A series of indicators suggest there is renewed pension fund interest in the student accommodation sector including a move by RREE...
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RREEF to lose top executive
UNITED STATES - RREEF is losing one of its top executives as Steve Steppe has resigned and leaves at the end of July. Steppe is now on gardening leave – a term used by the asset management industry stating he is not allowed to work for any c...
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San Francisco City and County to place $750m
UNITED STATES - City and County of San Francisco Employees’ Retirement System has approved an allocation of $750m ($553.7m euros) to be invested in real estate for fiscal year 2008. Assisted by real estate consultant, The Townsend Group, the...
