News – Page 1085
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Hewitt’s Duff attacks real estate managers
REAL ESTATE - Most real estate fund managers aren’t fit for purpose, according to Nick Duff, real estate partner at Hewitt Associates. In an interview with IPE Real Estate, Duff said most lacked “the contacts, the systems or the teams...
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LaSalle names new CEO
REAL ESTATE – LaSalle Investment Management, a member of the Jones Lang LaSalle Group, has appointed Jeff Jacobson as its new CEO.
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EPRA conference report
REAL ESTATE - Red tape is hindering the development of the Hungarian real estate investment market – that’s one of the messages to emerge from the European Public Real Estate Association conference in Budapest.
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CalSTRS to put 11% into real estate
REAL ESTATE – The California State Teachers' Retirement System is looking to real estate as it rejigs its investments and tries to plug a $20bn (€15.7bn) funding gap.
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Savills rethink after public fund failure
REAL ESTATE - Savills is to launch a private German real estate fund after an abortive public fund launch earlier this year failed to generate sufficient funds. The new fund, aimed at European pension funds and retail investors, is expected to la...
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DB Real Estate sells German properties
REAL ESTATE – DB Real Estate, the property fund arm of Deutsche Bank, has sold six properties worth €500m from its core German fund to Fortress, the US private equity investor. A spokesman for DB Real Estate said the properties were so...
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Ohio Police & Fire commits to commingled fund
REAL ESTATE - The Ohio Police & Fire Pension Fund has made a $25m (€19.6m) commitment to the Westbrook Real Estate Fund VII. This was an investment that was approved by the pension fund’s staff and real estate consultant Townsend G...
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Nottingham scheme gets Noble boost
REAL ESTATE - Noble Property Trust – the fund set up last year with an initial £20m (€29m) investment from Nottinghamshire County Council Pension Fund – has reported what it describes as “impressive early gains” in ...
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Swiss foundation tenders real estate
REAL ESTATE – A Swiss investment foundation has tendered $100m+ (€78.7m) in global passively managed publicly traded real estate via IPE-Quest. The search (QN658) says: “The client is looking for a global mandate that will theref...
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LA Water dips toe into real estate
REAL ESTATE – The $11.1bn (€8.6bn) Los Angeles Water and Power Employees’ Retirement Plan has approved its first two investments in real estate. These will be in two open-ended core commingled funds. It has made $50m commitments ...
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Finnish pension funds cautious on REITs reform
REAL ESTATE - The Finnish Pension Alliance (TELA) has criticised government proposals on real estate investment for failing to remove tax obstacles that will discourage pension funds and other investors from investing in REIT-style structures. At...
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San Bernardino County makes its move
REAL ESTATE – The San Bernardino County Employees Retirement Association took on several real estate items at its board meeting in early August. The most significant of the actions was to change the overall mix of its real estate portfolio...
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Pramerica plans $1bn office development
REAL ESTATE- Pramerica Real Estate Investors and SJP Properties have setup a joint venture to develop the $1bn (€770m) 11 Times Square office project on Times Square in New York. Pramerica will be the main equity source for the development a...
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Insight floats real estate under Ross Goobey
REAL ESTATE - Insight Investment plans to raise £100m (€148m) in new capital when it floats its real estate fund management business, Invista, on the junior AIM market this month. Former Hermes pensions chief executive Alistair Ross G...
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American Realty raises $200m for new fund
REAL ESTATE- American Realty Advisors has attracted equity commitments totaling $200m (€155m) for its latest close-ended commingled fund, Building for America III. The real estate manager thinks that a factor in the investor interest was its...
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CalPERS commits extra $300m
REAL ESTATE- The California Public Employees Retirement System has recently committed $300m (€233m) to three real estate investments. One of the investments was a $100m commitment to the PRECO III. This is a closed-ended commingled fund tha...
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Ex-Hewitt consultant takes real estate role
REAL ESTATE - Dick van den Oever, a former senior consultant at consulting firm Hewitt Associates in Amsterdam, has taken on a role at Dutch real estate firm Berckheijde. He’s taken over the operational management and a part of the shares of...
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Pennsylvania to invest in structured finance
REAL ESTATE – The $30bn (€23.3bn) Pennsylvania State Employees Retirement System will be looking at investing capital into three structured finance commingled funds at in next board meeting on September 13. One of the commitments will ...
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AP3 hindered by lack of real estate advisor
REAL ESTATE - Six months after it first announced it was to re-allocate half its real estate into global markets, Swedish buffer fund AP3 is reporting falling returns for the asset class because it has yet to appoint an adviser to manage the shift. ...
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AIM faces competition for property listings
REAL ESTATE - Two IPOs announced last week suggest that AIM, the London Stock Exchange’s junior bourse, is losing its near-exclusive power to attract global real estate companies. Kenmore European Industrial Fund announced that it is to lis...
