News – Page 1067
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Savills launches cross border valuation team
REAL ESTATE – Property services company Savills has launched a cross border European valuation team to be based at its London offices. William Newsom, head of valuation, told IPE that the new team, for which he recruited new directors Collie...
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Los Angeles Fire & Police boots real estate commitment
REAL ESTATE - The Los Angeles Fire & Police Pension System has committed capital to a real estate commingled fund and agreed in principle to establishing an annual allocation for real estate. The pension fund approved a $30m (€22.4m) com...
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Invista hires Easthaugh as finance director
REAL ESTATE - Real estate fund manager Invista has appointed former banker Guy Eastaugh as financial director as part of a plan to separate financial and operational functions. Current chief financial officer (CFO) Philip Gadsden will occupy the ...
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Warburg-Henderson spells out its €1.4bn plans for 2007
REAL ESTATE – Warburg-Henderson, a German provider of real estate funds for institutional investors, plans to allocate €1.4bn to acquire western European commercial properties this year. "Considering the record level of investmen...
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Barings: Buy anywhere in Asia – now
REAL ESTATE - "It doesn’t matter what you invest in or which market you invest in, just invest," Baring fund manager Chris Lees said of Asian real estate. In a global equity strategy published last week, Lees, who managers the ...
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New York State Teachers sets up US apartment JV
REAL ESTATE - New York State Teachers Retirement System(NYSTRS) has formulated a joint venture with the Bozzuto Group to develop apartment complexes. There is a total of $100m (€74.9m) of equity in the venture. The pension fund contributed ...
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Portuguese retail bonanza to run and run
REAL ESTATE - Portuguese property returned 12% in 2006 – above bonds (0.2%) but significantly below equities (29.9%), according to IPD data released last week. Retail delivered the strongest performance at 15.9%, driven largely by domestic ...
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CalPERS places $285m into Mexico and Brazil partnerships
REAL ESTATE - The California Public Employees Retirement System(CalPERS) has agreed to invest $285m (€213.5m) into real estate partnerships investing in Mexican and Brazilian real estate. Both of the partnerships will continue an on going re...
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Blue Sky’s Satumalaij to join Bouwfonds
REAL ESTATE - Blue Sky Group real estate fund manager Raymond Satumalaij is to join fund manager Bouwfonds in May. In this new role – both for Satumalaij and for Bouwfonds – Satumalaij will be responsible for structuring and managing ...
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Bundestag passes G-REITs bill
REAL ESTATE – Germany’s lower house of parliament, the Bundestag, has approved draft law legalising German real estate investments trusts (G-REITs) retroactively from 1 January.
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Corio undertakes massive Paris office revelopment
REAL ESTATE – Property investor and manager Corio will redevelop and enlarge its Paris’ office building Le Newton into a high quality complex of 42,000 m2, it has announced. The €120m project will lead to an almost fourfold incre...
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Noble raises $310m for new hotel fund
REAL ESTATE - Noble Investment Group has raised $310m (€233.1m) of equity for its hotel investment fund called Noble Hospitality Fund. This commingled fund will be the first time that the company has raised a discretionary investment fund f...
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Clerical Medical makes moves into Europe
REAL ESTATE - UK insurer Clerical Medical has hired fund manager Invista to spearhead its entry into continental European real estate. The pan-European portfolio will invest in sectors, such as commercial, with a core income profile. A spokes...
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JER starts to buy US properties for next commingled fund
REAL ESTATE – US manager JER Partners has started the process of buying properties for its next commingled fund, JER Partners IV. Among the first properties for the fund was the acquisition of the Fairview Park Marriott in Falls Church, Va., f...
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ING in €100m Stuttgart retail deal
REAL ESTATE - ING Real Estate Development has sold its Stuttgart retail centre Canstatter Carre to property fund Encore+ in a €100m transaction. The complex – developed by ING - comprises of 37,000 metre2 of lettable area (including 15...
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Harvard Endowment invests in BayNorth’s new $473m fund
REAL ESTATE – US-based BayNorth Capital LLC has completed raising capital for its latest investment fund, BayNorth Realty Fund VII, with a total of $472.5m (€356m) contributed. One of the more significant investors in the fund was the...
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Norway follows Denmark with record returns
REAL ESTATE - The Norwegian property market returned 17.6% last year – its highest return since the index launched in 2000 – but the property market still performed below equities, which returned 32.4%. But the figures, published last...
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Michael Koch found guilty of corruption in Frankfurt court
REAL ESTATE – Michael Koch, the central figure in the 2004 bribery scandal that engulfed German real estate fund provider Deka, was found guilty of corruption by a Frankfurt court but will not go to jail. Instead, the Frankfurt court sentenc...
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Aberdeen settles REO split cap lawsuit
REAL ESTATE - Fund management firm Aberdeen is to pay Real Estate Opportunities (REO) £30m (€44m) to settle a lawsuit brought by the split capital trust. Aberdeen and Swiss bank UBS, which REO also sued, advised REO on a 2001 listing i...
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Washington State approves over $800m in real estate
REAL ESTATE- The Washington State Investment Board has taken action to place more than $800m (€601.4m) into new real estate investments. The pension fund made these investment decisions at its board meeting recently. One decion was a follow...
