News – Page 1069
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Ohio Police & Fire invests in Blackstone opportunity
REAL ESTATE - The Ohio Police & Fire Pension fund has invested $20m (€15.3m) into the Blackstone Real Estate Partners VI opportunity fund. The fund decided on this at recent board meeting, having been advised by real estate consultant, T...
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Moor Park buys 91 German and Dutch hotels from Accor
REAL ESTATE – Moor Park, a London-based real estate fund provider, has paid €863m to acquire 72 hotels in Germany and 19 in the Netherlands from French hotel chain Accor. Under the deal, Accor will rent the hotels, which fall under the...
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Alaska pension fund on point of infrastructure allocation
REAL ESTATE - The Alaska Permanent Fund(APF) will be making a formal allocation in the near future to infrastructure investments. The outcome at a recent fund board meeting was not to make a formal allocation at this time, though the move will b...
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Morgan Stanley clusters alternatives around real estate
REAL ESTATE - Morgan Stanley is to split its $45bn (€34bn) global real estate investment from banking operations – bucking a recent trend for investment banks to merge their operations. Morgan Stanley’s real estate will be house...
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CalSTRS makes $3.7bn RE commitments in last quarter of 2006
REAL ESTATE- The California State Teachers Retirement System(CalSTRS) made $3.7bn (€2.8bn) worth of commitments to real estate during the fourth quarter of 2006. Among these commitments were a $200m investment into Heitman Value Partners II ...
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ING bullish about global property fundamentals
REAL ESTATE - Global real estate fundamentals will remain healthy in most markets over the next 12 to 24 months, ING Real Estate predicted. "They will be supported by moderating but above-trend economic growth, improved earnings, and the con...
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Norwegian fund reveals property investment regions
REAL ESTATE – The Norwegian finance ministry has issued a tender for a company to draft a report on tax issues relating to investments in real estate and infrastructure in 32 markets outside Norway. The report, which is required by mid-June,...
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CalPERS narrows search for CalWest buyers
CalPERS narrows search for CalWest buyers REAL ESTATE – The $230bn (€175bn) California Public Employees Retirement System (CalPERS) has narrowed the list of candidates to buy the CalWest industrial portfolio. The four finalists are G...
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VastNed Group’s board still wants to merge funds
REAL ESTATE – Dutch property investor VastNed Group is still seeking its shareholders’ support for a merger of its investment funds Retail and Offices-Industrial, it said. "A combined fund is not only beneficiary to our listing, ...
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Habas acquires Zeeman’s family 12% stake in Nieuwe Steen
REAL ESTATE – A major shareholder of property investor Nieuwe Steen Investments has sold its 12% stake to Israel-based Habas Group, the company announced. NSI founder Jo Roelof Zeeman and family have sold their shares for €22.24 each, ...
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Dutch Homburg acquires Alexis Nihon after beating off Cominar
REAL ESTATE - Dutch real estate company Homburg has acquired Canadian real estate fund Alexis Nihon after a long-drawn bidding battle with competitor Cominar. Homburg increased its bid for Alexis Nihon after a friendly take-over bid offer from ...
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Invista posts positive post-HBOS flotation results
REAL ESTATE – UK property investment management firm Invista has posted £8.1m (€11.9m) profit before tax for four months’ trading since it demerged from HBOS in September. In a presentation to investors, Invista CEO Duncan ...
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State of Wisconsin spreads $265m spread across US investments
REAL ESTATE – The State of Wisconsin Investment Board has made real estate investments totalling $265m (€200.5m) in three separate events. The most recent of these investments was a $75m commitment to the Cornerstone Apartment Ventures...
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Property derivatives set for major euro expansion
REAL ESTATE – Data published last week by IPD showed trading in UK commercial property derivatives totalled £3.57bn (€5.2bn) in 2006 – a 300% increase over the previous two years. Iain Reid, Protego Real Estate Investors CE...
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ING Clarion in US medical office buildings joint venture
REAL ESTATE – The US-based ING Clarion Partners has setup an investment joint venture for the first time involving office buildings with Montecito Medical Investment Company. This venture represents another example of ING Clarion looking at ...
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Wereldhave eyes expansion to east and west
REAL ESTATE – Property investor and manager Wereldhave is considering expansion into new markets, such as San Diego area on the US west coast and Turkey. "We will continue to renew our investments in conformity with our clients’ ...
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Washington State adds $1.3bn to wide-ranging real estate
REAL ESTATE - Washington State Investment Board has approved new real estate commitments totaling as much as $1.3bn (€983.6m). The pension fund allocated up to $750m for an investment into GMS International, LLC, run by real estate manager...
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Corio acquires provincial retail centre in Turkey
Real Estate - Property developer and manager Corio has signed an agreement for the acquisition of a €49m retail centre under development in Turkey, the firm announced. The complex – AdaCenter, in the provincial capital Adapazari ?...
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Orange County Employees to invest in REITs and timber
REAL ESTATE – Orange County Employees Retirement System has approved new capital for real estate searches to invest in global real estate securities and timber assets. It was advised by its consultant, Callan Associates. At a recent board m...
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ING sells office and retail elements of Prague project
REAL ESTATE – ING Real Estate Development has sold the office and retail section of the A7 Arena Holesovice project in Prague. The €37m sale - 15,500m2 of gross lettable area and 200 parking spaces - was made to FHA Czech, a subsidiary...
