News – Page 1079
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Schroders defends international diversification
GLOBAL – The recovery in the global real estate markets will not be synchronised in contrast to the downturn, marking a return to the traditional benefits of diversification, according to Schroders.
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Investors have failed to learn lessons – Valente
GLOBAL – It is not clear whether real estate markets are going through a sustainable phase of recovery or whether it is an illusion driven by capital market liquidity, according to Joe Valente, head of investment strategy at Allianz Real Estate.
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Investors call for clear communication from fund managers
EUROPE – European institutional investors called on real estate investment managers to deliver clearer, pro-active communication and reporting, especially on key areas that would ultimately determine the success or failure of a fund.
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Co-investment an outmoded misconception, claims industry veteran
GLOBAL – The effectiveness of co-investment by real estate fund managers to align interests was seriously questioned at this year’s IPE Real Estate Investor Forum & Awards, part of the IPD/IPE Real Estate Congress.
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Illinois Municipal plans core search
UNITED STATES – Illinois Municipal Retirement Fund is to conduct a search next month for a $150m (€122.7m) investment in core open-ended commingled funds.
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Texas Employees makes first move into non-listed
UNITED STATES – Employees Retirement System of Texas has made its first investments in non-listed real estate funds as it seeks to build up its overall property exposure.
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Munich office outlook maintains focus on prime
GERMANY – Munich office rental will pick up slowly in 2010 even if there is a speedy recovery, according to a report published this week by Knight Frank.
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Recovery boosts forecasts for Europe, US
GLOBAL – Economic recovery has upped the prospects for long-lease prime properties in cities such as London, New York, Paris and Hong Kong, according to ING Real Estate Investment Management.
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BVK ‘optimises’ UK portfolio by selling assets
GERMANY/UK – Bayerische Versorgungskammer (BVK), the €43.2bn German pension fund, has sold two UK office blocks for £48m (€56.6m).
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Former IPD boss appointed INREV CEO
EUROPE – The European Association for Investors in Non-listed Real Estate Funds (INREV) has appointed Matthias Thomas, the founder of Investment Property Databank (IPD) Germany, as chief executive officer.
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And the winners of the IPE Real Estate Awards 2010 are…
EUROPE – Ärzteversorgung Westfalen-Lippe (AeVWL) was crowned Best European Institutional Investor last night at a glittering event in Amsterdam to celebrate this year’s IPE Real Estate Awards 2010.
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Gulf states have ‘too much supply, too little cash’ – Moody’s
MIDDLE EAST – Rating agency Moody’s today blamed oversupply and lack of property finance for an 18-month negative outlook for real estate markets in Gulf Cooperation Council (GCC) states.
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Smith takes over at Aberdeen as Blacklund retires
GLOBAL – Aberdeen Asset Management has appointed Andrew Smith as group head of property.
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Retailers seek prime as shoppers hold back
EUROPE – European shoppers could take two years to catch up with the global economic recovery, according to CB Richard Ellis.
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LPFA could start wave of investment in UK housing
UK – The £3.5bn (€4bn) London Pension Fund Authority (LPFA) could be the first in a number of UK pension funds investing in the residential real estate sector.
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Texas Teachers to target core US real estate through Lionstone
UNITED STATES – Teacher Retirement System of Texas has formed Lionstone Cash Flow Real Estate Partners One, a fund managed by Houston-based The Lionstone Group.
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Canada Pension Plan steps up global spending spree
GLOBAL – Canada Pension Plan Investment Board (CPPIB) has made its first ever investment in Manhattan through a joint venture with SL Green Realty Corporation, and established an Australian real estate development fund with Goodman Group.
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Crisis model includes real estate for first time
GLOBAL – A crisis forecasting model developed for banking regulators has included property prices as a key risk factor for the first time.
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Whitbread property plugs pension gap
UK – based hotel and restaurant group Whitbread is to siphon income from some of its property assets to plug £100m (€115.6m) of its £434m pension deficit.
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Nottingham PF sells ‘too big’ retail park
UK – A listed company specialising in edge-of-town and out-of-town retail has acquired assets from Nottingham local authority pension fund and Xerox Pensions for a total of £22.7m (€26.3m).
