News – Page 1076
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Tyneside fund hires Colliers for property portfolio
UK - South Tyneside Council pension fund has hired Colliers CRE to provide quarterly valuation services for its £375m (€567m) property portfolio. Colliers replaces incumbent Lambert Smith Hampton after winning a tender first announced last...
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ING Dutch real estate funds return up to 21%
NETHERLANDS - ING Real Estate’s three Dutch funds have realised returns of up to 21% during 2006. The best performer was the €1.7bn Dutch Retail Funds, which yielded 20.5%-21.1%, according to ING. Dutch Office Funds, with assets under ...
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DIFA to sell €1bn in commercial property
REAL ESTATE – DIFA, a German provider of open-ended real estate funds, has announced plans to sell more than €1bn worth of German commercial properties held by its funds. DIFA said it had already hired Atisreal, the real estate consul...
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Ohio Police & Fire commits capital to new commingled fund
REAL ESTATE- The Ohio Police & Fire Pension Fund has approved a $25m (€18.5m)investment into the Colony Investors VIII, L.P. The pension fund took this action with some assistance from its real estate consultant, The Townsend Group. The...
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Dutch real estate funds target for foreign investors
REAL ESTATE - International bank Merrill Lynch expects that Dutch real estate funds will be a main target for foreign investors. Several possible take-over candidates have been stated by Merrill Lynch in its report on the European real estate sec...
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New Jersey allocates $150 million into two commingled funds
REAL ESTATE- The New Jersey Division of Investment has approved real estate investments totaling $150m (€115m) into two commingled funds. One of these was a $100m allocation into the Prudential Property Investment Separate Account II. This ...
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Rodamco sells flagship office building
REAL ESTATE - Property investment and management company Rodamco Europe has sold its building Robeco house in Rotterdam, to increase its focus on shopping centres, it announced. Robeco House - one of Rodamco’s flagship buildings - has been a...
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San Diego City commits capital to apartment fund
REAL ESTATE - San Diego City Employees’ Retirement System has approved a $20m (€15.5m) commitment to the Cornerstone Apartment Venture III, LLC. This is a commingled fund that is managed by Cornerstone Real Estate Advisers. The real e...
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CS Capital nears closing on Los Angeles development fund
REAL ESTATE- CS Capital Management is set to have a final closing in March on its commingled fund, Los Angeles Development Partners. The projected total raise is in the neighborhood of $250m (€193m). There will be a total of eight or nine p...
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L&B to raise second medical office fund
REAL ESTATE- L&B Realty Advisors is now marketing its second medical office building investment fund, L&B Medical Partners II. The person overseeing this fund for the company is director Jason Blake. He said, "We believe that instit...
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ING announces close of CEE property fund
REAL ESTATE – ING Real Estate Investment Management has closed the ING Property Fund Central and Eastern Europe, the firm announced today.
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Two US plans to invest in €365m in commingled funds
REAL ESTATE - Two pension fund clients of The Townsend Group, a leading real estate pension fund consultant in the US, will be investing up to $475m(€365m) in two commingled funds. The investment funds involved in the commitments are Colony ...
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Cofinimmo to sell property after losing gov't contract
REAL ESTATE - Belgian real estate company Cofinimmo told IPE Real Estate that it would sell off some of its property after losing a portfolio of state-owned buildings to rival Befimmo. "After looking at recent price levels, we’re look...
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US institutions: over-liquid and over here
REAL ESTATE - CalPERS’ investment in European real estate will spur other US pension funds to invest in European office and retail, according to Henderson Global Investors. "If the logic has been accepted by CalPERS, it will be accept...
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HVB sells real estate non-performing loans
REAL ESTATE - Hypovereinsbank (HVB) has sold a third portfolio of non-performing real estate loans to Goldman Sachs for an undisclosed price. The portfolio, which the German bank sold by competitive auction, comprises loans in the lowest risk cla...
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Rodamco buys into Moscow retail market
REAL ESTATE - Real estate investor Rodamco Europe has set a first step onto the Moscow property market, by acquiring a 50% stake in the retail centre-under-development Metropolis, it has announced. Its investment of €200m in the ‘top-...
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Clarion creates new US hospitality unit
REAL ESTATE - Clarion Partners figures to become a major player in the investment of hotels with its creation of a new investment unit, The ING Clarion Hospitality Group. This was established to take over responsibility of the real estate manager...
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German firm criticises G-REITs legislation
REAL ESTATE – German property firm IVG Immobilien has lambasted the government legislation creating German real estate investment trusts (G-REITs), saying that unless it is improved, G-REITs will not be successful. Germany’s parliament...
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ABP declares interest in running Dutch toll roads
REAL ESTATE – The €201bn civil service pension fund ABP is willing to operate one or more motorways in the Netherlands as toll roads, its chairman Elco Brinkman said. The conditions are that ABP would get the rights for at least 30 yea...
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UK green-belt residential gets gov't okay
REAL ESTATE - A campaign to scupper the construction of a satellite town in England’s greenbelt has slated landowner the BP Pension Fund as "secretive" and "unresponsive". The remarks, made by Nigel Clarke of the St...
