News – Page 1078
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New real estate investment bank launched
REAL ESTATE – A new real estate investment bank has been launched by former executives at HSBC and Jones Lang Lasalle. "We announce the establishment of Lowndes Partners, LLP an independent investment bank specialising in financial adv...
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Shropshire fund moves out of UK property
REAL ESTATE - Shropshire County Council pension fund is seeking an investment manager for a £43m (€63.7m) pan-European real estate portfolio. The move reflects a wider trend for UK pension funds to move out of the domestic real estate ...
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GE scheme sets up California industrial venture
REAL ESTATE - The General Electric Pension Trust has put together a new $55m joint venture with Master Development Corporation to invest in industrial properties in Southern California. GE put in $50m, with the balance coming from Master Developme...
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Newham fund diverts into infrastructure
REAL ESTATE - The London Borough of Newham pension fund is to invest £30m (€45m) in infrastructure. The investment, which follows a strategic review and is the fund’s first in infrastructure, reflects a desire to influence the beta a...
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CSAM buys Amsterdam office complex
REAL ESTATE – Credit Suisse Asset Management (CSAM) has bought an Amsterdam office complex for €174m (£117.27m) from ING Real Estate, which had the building on a long-term lease. ING announced Credit Suisse has bought the complex ...
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USS buys into Bulgarian real estate developer
REAL ESTATE – The £26bn (€38.5bn) Universities Superannuation Scheme, the pension fund for university staff, has made a move to increase it Eastern European real estate holdings. In an announcement Bulgarian Land Development Plc, ...
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Jones Lang LaSalle opens in Dusseldorf
REAL ESTATE – Jones Lang LaSalle, the US real estate broker and asset manager, says that from January 1, it is creating a new German asset management services unit based in Düsseldorf. JLL said that to lead the unit, it had recruited Hi...
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Ohio School scheme commits to retail fund
REAL ESTATE - The School Employees Retirement System of Ohio has approved up to a $50m commitment into the Retail Enhancement Fund. The fund took this action at its board meeting in mid November. This is a commingled fund that is managed by M...
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US, Dutch, Irish schemes buy in Stockholm
REAL ESTATE - Pramerica, Prudential's European investment management subsidiary, is to invest $65m in a venture to acquire Swedish residential on behalf of unnamed US institutional investors and Irish and Dutch pension funds. The firm said it wou...
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SEB offers Baltic portfolio to pension funds
REAL ESTATE - Swedish bank SEB is to sell off its Baltic real estate portfolio – probably to a pension fund – as part of its bid to get out of property. Anders Arozin, deputy head of SEB’s Eastern European banking operations, sa...
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Ernst & Young names real estate head
REAL ESTATE – Ernst & Young have named Dean Hodcroft as its new head of Real Estate, Hospitality and Construction (RHC). After 18 years with the firm, Hodcraft, 39, will now lead the 1,000-strong group for the UK and NEMIA region - which...
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ING launches Eurosiris fund of funds
REAL ESTATE - ING Real Estate Select has launched a fund for investors who want to allocate their assets in continental Europe, it announced.
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Virginia Retirement System invests in commingled
REAL ESTATE - The Virginia Retirement System has approved investments in three new commingled funds. The total amount invested is $410m. It made two commitments to core commingled funds. One of these was a $175m commitment to the Strategy Proper...
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Ontario Teachers take to the seas
REAL ESTATE - The Ontario Teachers Pension Plan has acquired four marine container terminals for US$2.4bn (€1.8bn). The acquisition, from Hong Kong’s Orient Overseas (International), comprises New York’s Staten Island, a terminal in...
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New Jersey makes $425m commitment
REAL ESTATE - The State of New Jersey Division of Investment has approved commingled fund real estate investments totaling $425m. One of these investments was made with a manager that the pension fund had already made a commitment to. This was wi...
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Ipswich council pitches regeneration project
REAL ESTATE - Ipswich local authority in eastern England is to seek pension fund investment in a regeneration project comprising retail, leisure and possibly residential real estate. The plans – which have yet to be approved by the council&...
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Pension funds still bullish on UK, rest of Europe
REAL ESTATE - European pension fund managers still plan to invest in the UK and continental real estate markets despite a widespread downward revision of expectations, according to an in-house poll of pension fund managers conducted by ING Real Estat...
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Texas Teachers commit $300m
REAL ESTATE - The Teacher Retirement System of Texas has approved three investments in real estate commingled funds totaling $300m. The pension fund took these actions at its board meeting earlier this month. The three investments are up to $75m ...
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PWC names global real estate head
REAL ESTATE – PricewaterhouseCoopers has named Marc Saluzzi as the new global head of its investment management and real estate group. He replaces Simon Jeffreys, who left in early October to join Fidelity International as chief administrati...
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ABP’s role in real estate firm Corio queried
NETHERLANDS – Dutch pension giant ABP risks being drawn into a row over the management of real estate firm Corio, in which it has a 39% stake. Former Corio board members have in the past few days urged the current board to replace the manage...
