News – Page 1074
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New Jersey fund to invest $100m with Blackstone
REAL ESTATE - The New Jersey Division of Investment has approved a $100m(€77m) commitment into the Blackstone Real Estate Partners VI. The pension fund approved this investment at its board meeting on January 18. The pension fund will put t...
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ING facilitates €260m credit for London City office
REAL ESTATE - ING Real Estate Finance has completed a €260m credit facility for the acquisition of 88 Wood Street, London EC2 by a co-investment partnership, it said. The transaction involved the largest asset purchase by ING in the UK so f...
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German corporates to sell real estate to create REITs
REAL ESTATE – Over a quarter (27%) of quoted German corporates had concrete plans to sell their property holdings to create real estate investment trusts (REITs), according to a study by German real estate fund firm DEGI. Legalisation of Ger...
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Mars pension fund sells off Nottingham office
REAL ESTATE - Mars Pension Trustees have sold off a four-story Nottingham office block to fund managers Warner Estate Holdings and Morley Fund Management for €23.2m. A spokesman for the UK pension fund declined to comment on the reasons for...
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Ohio Police & Fire issues RFP for independent fiduciary
REAL ESTATE - The Ohio Police & Fire Pension Fund has issued a request for proposal (RFP) for an independent fiduciary to evaluate a portion of its real estate portfolio. The responses are due to the pension fund on or before 3:00 PM eastern tim...
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Nieuwe Steen mulls cooperation with Israeli player
REAL ESTATE - Dutch real estate development company Nieuwe Steen Investments (NSI) has entered exploratory talks on cooperation with Israel-based property developer Habas HZ Investments, it announced. At Habas’ request, NSI is investigating ...
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Macquarie opens in Frankfurt and Paris to boost continental real estate
REAL ESTATE – The real estate fund arm of Australian investment bank Macquarie has this month opened offices in Frankfurt and Paris to step up its investments on the European continent. "We see great potential for both office and logis...
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Great Point to expand into US commingled fund business
REAL ESTATE – In the US, Great Point Investors will be expanding into the commingled fund real estate business for the first time with its Great Point Value Fund. Principal Gary Schwandt said, "It’s our opinion that most pension ...
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Dutch investor ups allocation with UK retail
REAL ESTATE – Netherlands-based TKP Pensioen, a subsidiary of Aegon, last week announced that it had invested €52m in Standard Life’s €2.8bn UK shopping centre fund. The Dutch pension fund manager said the move w as part ...
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Morgan Stanley sets up senior housing JV
REAL ESTATE - Morgan Stanley Real Estate has created a senior housing joint venture with National Health Care Properties. Dave Hardman is head of US real estate investing for Morgan Stanley. He said, "We feel good about doing business with ...
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S&P launches global property index for ‘liquidity and tradability’
REAL ESTATE – Index provider S&P has launched the Global Property 40 Index to provide exposure to 40 leading companies in the global real estate markets. The index is made up of large, well traded, liquid companies from North America, Eu...
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BBC’s industrial sale not indicating strategy shift
REAL ESTATE - The BBC’s pension fund in the UK has denied that last week’s sale of 60,000 square foot of real estate on a northeast English industrial estate reflected a tactical move away from industrial as an asset sub-class.
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UBS replaces O’Keefe by Marcuse hire
REAL ESTATE - UBS has appointed AXA Real Estate Investment Managers CEO Paul Marcuse to head its asset management arm’s global real estate business. Marcuse, who will also join the asset management firm’s executive committee, replaces Jam...
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Regency Centers forms open-ended $1.2bn retail fund
REAL ESTATE - Regency Centers Corporation has formed a new open-ended investment fund called Regency Retail Partners, LP. There is a total of $370m(€286m) of equity in the fund now. One of the largest investors in the fund is GIC Real Estat...
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REIT and pension fund manager setup retail venture
REAL ESTATE - Ramco-Gershenson Properties Trust and Heitman have created a JV to invest in retail properties in selected markets across the US. The total amount of equity in the joint venture is around $159m(€123m). The equity contributions...
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Kodak-backed Halladale posts results 8% up
REAL ESTATE - Halladale, the Scottish real estate firm backed by the Kodak pension fund, posted interim pre-tax profits of £4.12m(€6.4m) – an 8% increase over 2005. The results, covering the six months to the end of October 2006...
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Morgan Stanley fund buys €400m New York office
REAL ESTATE - Morgan Stanley Real Estate has made a major office building purchase in New York City with the acquisition of the one million2ft. 2 Park Avenue in Midtown Manhattan. The purchase price for the property was $519m(€400m). This w...
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Mainland European commercial ‘in sweet spot’
REAL ESTATE - Domestic demand will drive out-performance from mainland European commercial property, according to a report published last week by fund manager Seven Dials. Continued macroeconomic growth, low reliance on US trade and strong labour...
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Perennial names van Loen as senior portfolio manager
REAL ESTATE - Perennial Real Estate Investments (PREI) has appointed Boudewijn van Loen as senior portfolio manager Europe. Van Loen, will be closely working with the existing European team of Stuart Pearce and Joseph Daguio, it said. According...
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CalPERS to participate in new REIT IPO
REAL ESTATE - The California Public Employees Retirement System figures to be part of a new initial public that should be coming to the market in January. The new REIT being created is called Meruelo Maddux Properties, Inc. The total number of sh...
