News – Page 1064
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ING to significantly expand into Germany
GERMANY - ING Real Estate Management intends to significantly increase its presence in Germany in 2007, in order to profit from the continuing improving market fundamentals. In its annual report, ING Real Estate Group announced it also expects to ...
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Los Angeles County adds co-investment option
US - Los Angeles County Employees Retirement Association has added a co-investment option to its real estate investment strategy. This will be the first time the pension fund has had a co-investment option, having taken this action at its board m...
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Arizona State tweaks real estate program
US - Arizona State Retirement System has adjusted its portfolio and the amount its real estate program invests in core, non-core and public REITs because of increasing prices of core properties. The maximum amount of the pension fund’s real ...
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Buchanan commingled raises $414m
US - Buchanan Street Partners has completed its equity raise for its latest commingled fund and attracted total commitments of $414m ($304.9m euros) to the Buchanan Fund V. Buchanan had originally intended to raise somewhere in the neighborhood of...
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Texas Teachers move 10% into real estate
US - Teacher Retirement System of Texas is planning to allocate 10% of its portfolio assets in real estate. Speaking about the move, Rob Kochis, principal with The Townsend Group which acts the Texas Teachers real estate consultant, said: "T...
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Austrian Immoeast lists in Warsaw
AUSTRIA-POLAND – The Austrian real estate company Immoeast plans to list on the Warsaw stock exchange in a bid to attract more capital from investors including pension funds. As part of a major capital raising of €3bn, the company wil...
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INREV chair to drive in new direction
EUROPE - Johan van der Ende, chief investment officer for strategy and structured investments at Dutch pension fund PGGM, is the new chairman of INREV, the European Association for Investors in Non-Listed Real Estate Vehicles. Van der Ende takes o...
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Property returns slow in UK, Eire
EUROPE - Growth in the UK and Irish property markets slowed in Q1, according to the latest IPD data. Irish real estate posted its lowest quarterly returns since the beginning of 2004 –2.2% compared with 5.8% in Q4 2006 – despite outpe...
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EPRA study reveals diversified benefits
EUROPE - A report published by the European Real Estate Association (EPRA) has found low or negative correlations between the performance of real estate equities and other asset classes. The lowest rolling correlation, measured over five years, w...
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UK niche retail REIT raises €234m
UK - The Local Shopping REIT, the UK’s first specialist retail REIT, last week announced it had raised £160m (€234m) from its 87% flotation on London’s main bourse. Although it is too early to gauge the main sources of inve...
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NYSTRS adds $150m to commingled funds
US - New York State Teachers Retirement System has approved commitments to two new commingled funds totaling no less than $150m (€110.3m). One of these commitments is for the ING Clarion Debt Opportunity Fund II and will see the pension fund...
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DIM Vastgoed to sell entire retail portfolio
REAL ESTATE - The executive and supervisory boards of the property investor DIM Vastgoed are persisting on selling the company’s entire portfolio of US retail centres, they . Following this decision, DIM has signed an exclusive marketing ...
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Austrian finance minister joins C–Quadrat
REAL ESTATE - Former Austrian finance minister Karl-Heinz Grasser on Friday joined the supervisory board of C-Quadrat, the real estate subsidiary of fund manager Altira, at the firm’s annual shareholder meeting. The firm is priming Grasser ...
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Morley sets out Asia strategy
REAL ESTATE - Fund manager Morley has set out its strategy for investment in Asian real estate on behalf of its largest client, the life insurance business of parent company Aviva. The initial investment of US$2bn (€1.4bn) will involve join...
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Apollo expands urban residential strategy to Los Angeles
REAL ESTATE – US investor Apollo Real Estate Advisors has broadened its urban residential investment strategy to Los Angeles for the first time with the purchase of 1,002 rental units in the region. Apollo partner Dean Pentikis who heads up...
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Fifield creates $400m joint venture with Pacific Life
REAL ESTATE – In the US, Fifield Companies has created an apartment development joint venture with Pacific Life Insurance Company. The two firms together will construct $400m (E293m ) worth of properties over the next 24 months. The structu...
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Aberdeen targets Nordic investors with French fund
REAL ESTATE - Aberdeen is targeting Nordic pension funds with a fund to be invested mainly in French real estate. The fund management firm made its first acquisition for the Aberdeen Fund France and southern Europe last week, paying GE Real Estat...
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JER invests equity in resort mixed-use project
REAL ESTATE - JER Partners has made a $96m (E70.5m) preferred equity investment into the Snowmass Base Village, Snowmass Center and West Village mixed-use project near Aspen, Colo. Cia Buckley ,president of the US Fund Business for JER Partners, s...
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UK derivatives trades report record Q1 values
REAL ESTATE - UK property derivatives in the first quarter of 2007 chalked up 125 transactions worth a record £2.9bn (E4.3bn). This is the equivalent of 10% of direct investment in real estate in the UK, according to figures published by IP...
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San Bernardino expands timber allocation to 4%
REAL ESTATE - San Bernardino County Employees Retirement Association has decided to expand its asset class for investing in timberland from 2 to 4%. The pension fund feels that timber deserves its own asset class. Investment officer Don Pierce s...
