News – Page 1072
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RREEF in new joint venture for US apartment deals
REAL ESTATE – Major manager RREEF has formed a joint venture with Bainbridge Capital, LLC to invest in apartment complexes in certain markets across the US. There is no set amount of capital that has been allocated to the venture. Transacti...
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IVG issuing €400m of convertible bonds for growth purposes
REAL ESTATE – German real estate firm IVG says it has issued €400m worth of convertible bonds for the purpose of financing future growth and large acquisitions. IVG sold the convertibles last week to primarily European institutional in...
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SoCal office of ING Clarion to focus on value-added deals
REAL ESTATE - The Southern California office of ING Clarion Partners will be focusing on more value-added investments for 2007. Managing director Richard Pink said: "Our investment plan for this year is to emphasise more value-added kind of ...
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No slowdown in real estate transactions in Europe’s €6trn market
REAL ESTATE - A study of European portfolio transactions claims new supply and niche portfolios will drive continued investment in the real estate sector. The report, published last week by Sireo Research and the Centre for European Economic Res...
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Mass PRIM approves value-added strategy with $300m commitment
REAL ESTATE - Massachusetts Pension Reserves Investment Management Board(Mass PRIM) has approved a new value-added investment policy for its real estate portfolio. The pension fund took this action at its board meeting earlier this month. It was as...
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Swiss Partners Groups acquires PCA in US
REAL ESTATE - Swiss alternatives asset manager Partners Group said it had acquired the private real estate investment arm of US-based Pension Consulting Alliance (PCA). Financial details were not disclosed. Partners Group said that as a result of ...
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German pension scheme sells off Hamburg residential
REAL ESTATE - An unnamed north German pension fund has sold a 55-unit residential portfolio in Hamburg to property firm Hanseati for €4m. The ageing portfolio of 55 housing units and 28 parking bays is located in Alsterdorf-Winterhude. The ...
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Los Angeles Fire & Police adds commingled fund activity
REAL ESTATE - The Los Angeles Fire & Police Pension System is expanding its activity in investing in commingled funds. The pension fund is looking at placing $90m(€68.5m) into three funds. One of these commitments has already been appro...
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Sweden’s Alecta buys Dutch distributon centre
REAL ESTATE – The €44bn Swedish occupational pensions mutual Alecta has bought a Dutch, Venlo-based distribution centre for nearly €11m. Real estate investment company Arlington, which has bought the complex for Alecta, said that...
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APK fund invests CHF50m in Swiss housing projects
REAL ESTATE – Aargauische Pensionskasse (APK), a CHF5.5bn (€3.4bn) pension fund for Swiss civil servants, has invested CHF50m in two separate housing projects in the city of Aarau. The projects, which include 65 new flats for the elde...
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Kardan targets China in major expansion drive
REAL ESTATE – Dutch real estate group Kardan will invest $55m (€42.4m) has reported that its subsidiary GTC RE Real Estate will be developing a housing project in Shenyang, a city in the north of China. This will be the fourth real esta...
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RREEF joins with Epiphany for luxury residential club venture
REAL ESTATE – Property firm RREEF has formed an equity joint venture with Epiphany Capital Partners that will invest in the luxury residential club industry. RREEF had been looking for some time at investing in the residential club business....
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San Diego County approves investment in apartment commingled fund
REAL ESTATE - San Diego County Employees Retirement System has allocated a $25m(€19m) commitment into the Cornerstone Apartment Ventures III, LLC. The pension fund took this action on its real estate portfolio at its board meeting earlier ...
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Corio buys 40% stake in Turkish retail centre
REAL ESTATE - Property developer and manager Corio has acquired a 40% stake in a Turkish retail centre in a €55m transaction, it said. The deal involves the Teras Park shopping centre, comprising of 55,000m2 of gross lettable area, current...
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New York State Teachers invests in two euro commingled funds
REAL ESTATE - The New York State Teachers Retirement System has approved real estate investments in two commingled funds outside the US. One was a €28m commitment to the CB Richard Ellis Strategic Partners UK Fund III. The other was a ?...
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ING opens delayed €500m Warsaw retail landmark
REAL ESTATE - After a one-and-a-half year’s delay, ING Real Estate has officially opened its €500m landmark retail centre Zlote Tarasy in Central Warsaw. The mixed-use project of Zlote Tarasy - ‘Golden Terraces’ - covers 6...
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Euro-REITS take off as US veterans de-list
REAL ESTATE - European investors are looking to real estate for high yields and low volatility – except Dutch pension funds, which are looking for geographic diversification, according to a RREEF report into the global real estate securities ma...
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HSBC considers selling Canary Wharf HQ
REAL ESTATE - UK banking giant HSBC is considering selling off its UK headquarters in Canary Wharf in a 15-year sale-and-leaseback deal. No price tag has yet been attached to the world’s largest single-occupier building. An HSBC spokesman s...
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ECP to focus on increased exposure in Sweden
REAL ESTATE - Euro Commercial Properties will focus on increasing its present exposure of 19% in Sweden, it announced. The property investor and developer has budgeted €220m for upgrading and developing its existing retail centres within its...
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Missouri pension fund creates real estate allocation
REAL ESTATE - The Missouri Local Government Employees Retirement System has established a real estate allocation for the first time. The amount that was approved is 5% of its total assets. The pension fund made this decision at its recent board m...
