News – Page 1065
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Henderson and mfi launch German shopping centre fund
REAL ESTATE – UK manager Henderson Global Investors has teamed up with German property manager mfi to launch a closed institutional fund to invest in German shopping centres. The fund is targeted to investors in Germany and abroad and promis...
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New Jersey looks at making commingled fund investments totaling $200m
REAL ESTATE - New Jersey Division of Investment is looking into making commitments into three commingled funds totaling $200m (E147.5m). These investments were discussed at its board meeting on April 19. The pension fund was assisted in this ac...
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Canadian fund acquires discount hotel chain from Accor
REAL ESTATE - The property subsidiary of Caisse de dépôt et placement du Québec, Canada’s largest pension fund, has acquired Red Roof Inns, a chain of US hotels from Accor for US$1.32bn (€960m). Cadim, the subsidiary, ac...
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Barclays launches European REIT fund
REAL ESTATE - Barclays Capital is to launch a European REIT fund based on the EPEU index, targeting investors looking to diversify away from UK property. The EPEU index tracks 47 mainly large-cap European REITs, mainly in France, Germany and the ...
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Schemes ‘should consider alternative alternatives’
REAL ESTATE - Pension funds will increasingly target alternatives within the property sector, according to Arlington Securities. In a research note published last week, the firm urged pension funds to diversify within Europe and across real estat...
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PREI sets up life science real estate venture
REAL ESTATE - Pramerica Real Estate Investors has formed a joint venture with BioMed Realty Trust to invest in life science properties across the United States. The first transaction for the relationship involves three assets that are located in Cam...
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European schemes eye sub-prime action
REAL ESTATE - European pension funds could join class actions against US sub-prime mortgage lenders currently under investigation for poor internal controls and decision-making, according to the law firm representing institutional investors. US i...
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Regulators probe Dutch institutional real estate
NETHERLANDS – Dutch regulators are probing institutional investors’ real estate investment activities to detect corruption. The moves come from the central bank, the DNB, and market regulator the Financial Markets Authority (AFM). F...
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Deutsche Börse launches REITs index
REAL ESTATE - Deutsche Börse announced last week that it will launch an index covering real estate investment trusts (REITs). The stock exchange will also launch a separate segment for the asset class "as soon as the first REIT is introduc...
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San Bernardino backs two commingled funds
REAL ESTATE - San Bernardino County Employees’ Retirement Association has made commitments to real estate commingled funds totaling $40m (€29.4m). One of these commitments was a $20m allocation to Beacon Capital Strategic Partners V....
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Dutch Butchers asked to chop real estate
REAL ESTATE – The Dutch €1.1bn industrywide butchers’ pension fund has clashed with pension regulator De Nederlandsche Bank (DNB) over demands to cut the scheme’s real estate holdings. The fund has long allocated a large pa...
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Islamic property fund acquires UK portfolio
REAL ESTATE - The European Islamic Investment Bank plc (EIIB)’s Pan-European Islamic Real Estate Fund last week announced that it has acquired five commercial properties in a £58.8m (€86.7m) from a fund sponsored by Arab Bank Interna...
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CalSTRS buys Chicago apartments for $470m
REAL ESTATE - California State Teachers Retirement System and Waterton Associates have acquired the 2,346-unit Presidential Towers apartment complex in Chicago for around $470m (€345.4m). This transaction represents one of the largest sing...
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Denmark's KP enters German real estate
REAL ESTATE – Danish pension fund KP International A-S has made its inaugural investment in German real estate, paying a bit more than €30m for an office building in Düsseldorf. The 16-story building is fully rented to Sparda Bank...
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Townsend axed by Los Angeles City scheme
REAL ESTATE - The $10.7bn (€7.8bn) Los Angeles City Employees’ Retirement System has appointed Courtland Partners as its new real estate consultant, resulting in a loss for incumbent consultant The Townsend Group. The fund's investment...
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BlackRock adds to Terranova venture
REAL ESTATE - BlackRock Realty and Terranova Corporation have added to their joint venture with the purchase of the 88, 850 s.f. Paraiso Parc in Pembroke Pines, Fla. The property was purchased for $39m (€29.02m). This asset is a new grocery...
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Macquarie logistics spree targets UK
REAL ESTATE - Macquarie has acquired a UK logistics property developer, Rosemound, for £336m (€493m), 44% of it debt. The acquisition represents a UK development boost for the Australian investor, with 1,000 acres of land and 30 staff...
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Dutch SPF to put €75m into nursery sector
NETHERLANDS - SPF Beheer, the manager of the €11.8bn railway fund SPF fund and the €2.3bn Dutch public transport workers' pensions fund SPOV, says it will invest €75m in real estate in the nursery sector. "We want to invest ...
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Sainsbury ‘should sell property' - shareholder
REAL ESTATE - UK retailer Sainsbury’s should sell off its £7.5bn (€11bn) property portfolio to fix a flawed capital structure, according to Robert Tchenguiz, one of its nine major shareholders. Tchenguiz, whose investment vehicle...
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Texas Teachers to invest $925m in real estate
REAL ESTATE- Teacher Retirement System of Texas will be looking at $925m (€692.3m) worth of real estate investments at its April board meeting. These will be commitments with new and existing real estate managers. A new manager that it will...
