News – Page 1095
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ABP eyes Asia as sector gets professional
REAL ESTATE - Stichting Pensioenfonds ABP, Europe’s largest pension fund, plans to increase its real estate allocation in Asia, citing the increasing professionalism of the Asian real estate and the emergence of REITs. “The increasing ...
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Credit Suisse nabs Rudolf for Swiss role
REAL ESTATE - Credit Suisse has appointed Claudio Rudolf as a director in charge of acquisition and sales for its Swiss Real Estate Asset Management business. “As a director, he will directly report to Markus Graf, head of Real Estate Asset ...
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US funds 'double real estate commitments'
REAL ESTATE – The 50 largest public pension funds in the US made almost $20bn (€15.8bn) in new real estate commitments last year – double the 2004 figure – according to industry research. The total real estate holdings of t...
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Global commercial property investment jumps
REAL ESTATE - Global direct investment in commercial real estate jumped $100bn (€80bn) last year to $475bn, according to new research. Foreign investors in the US market accounted for almost half of the 21% increase, according to ResearchWor...
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Investors pull €1.3bn from DB Real Estate
REAL ESTATE – DB Real Estate’s embattled core German fund has been hit with another €1.36bn in investor outflows since it was re-activated on March 3, according to the new statistics from German fund industry association BVI. The...
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Clarion to develop new industrial properties
REAL ESTATE - Clarion Partners has created a joint venture with Trammell Crow Company to develop two new industrial buildings in Beaumont, Calif. The development will build two warehouse/distribution buildings within the Beaumont Business Park on ...
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Fortress to float German real estate
REAL ESTATE – US private equity firm Fortress plans to float part of its German real estate holdings on stock exchanges by the start of 2007, a spokesman for the firm has confirmed. Since entering the German market in 2004, Fortress has acqu...
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Deutsche’s RREEF in $500m Russia venture
REAL ESTATE - RREEF, Deutsche Bank’s real estate investment arm, has announced its entry into the Russian real estate market via a joint venture with local firm RBI to develop residential and mixed-use projects in St Petersburg. The pipelin...
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Belgium’s KBC scheme shifts to real estate
REAL ESTATE - Belgian bank KBC’s €870m pension fund is to shift 3% of its equity allocation to real estate after ruling out investing in hedge funds. Edwin Meysmans, managing director of the firm’s defined benefits scheme, said...
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CalSTRS commits to old folks’ housing
REAL ESTATE - The California State Teachers Retirement System has made its first investment in old folks’ housing. It has established a partnership relationship with Newport Beach, California-based Vintage Senior Advisors. CalSTRS and V...
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Irish reserve fund on target for real estate
REAL ESTATE - Ireland’s National Pensions Reserve Fund (NPRF) invested €400m in real estate in 2005, according to its annual review. The fund expects to invest €500m in 2006, and €500m for each of the next three years. And ...
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CalPERS to hire managers for global REIT program
REAL ESTATE- California Public Employees Retirement System has sent out an RFP for managers for an international public real estate equity securities (PREES) investment program. The Sacramento-based fund has not established a specific amount for t...
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Aviva scheme buys Leeds office block
REAL ESTATE - Aviva’s pension fund has acquired an empty Leeds office block for around £11m (€15.8m). Morley, the financial services group’s asset management arm, completed the deal for the property – once owned by th...
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European real estate to get $100bn boost – S&P
REAL ESTATE – The introduction of UK and German retail estate investment trusts could boost result in $100bn in extra capital entering the market, says Standard & Poor’s. “The introduction of U.K. and German tax-efficient rea...
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Schemes put €1.44bn into real estate in quarter
REAL ESTATE - Pension funds poured more than £1bn (€1.44bn) into real estate in the first quarter of this year, according to industry data. Deal Flow, investment publishers MandateWire’s quarterly survey of investment activity, co...
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Hart to market its first commingled fund
REAL ESTATE - Hart Realty Advisers has begun the marketing process for its first commingled fund. The Hart Realty Fund, L.P. is slated to grow to $100m (€81.5m). It’s the first time in its 24-year history that the company has done t...
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DIFA buys 50% of London office project
REAL ESTATE – Germany’s Deutsche Immobilien Fonds AG (DIFA) has acquired 50% of a 250,000 square foot central London office complex for around £90m (€130m). The deal for “building 3” will kick off phase two of t...
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Clarion eyes self-storage
REAL ESTATE - Clarion Partners has plans to acquire $50m-$100m (€40.7m-€81.4m) in self-storage properties on an annual basis. This capital will be invested on behalf of a mixture of commingled funds and separate account pension fund clie...
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Pension schemes to raise allocation – ING
REAL ESTATE - Pension funds will hike their allocations to real estate over the next five years as they ditch the drive for returns in favour of “an approach based on managing assets and liabilities”, according to George Jautze, CEO of IN...
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Cerebus Deutschland ‘real estate head quits’
REAL ESTATE – The German arm of US private equity firm Cerebus has reportedly lost the head of its real estate business as well as five other employees from the unit. According to Germany’s Börsen-Zeitung, Ralf Winter, head of rea...
