News – Page 1097
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BRICs, REITs dominate in 2006 - E&Y
REAL ESTATE - Disparities in economic growth and new regulations will change the contours of the real estate market in 2006, according to Ernst & Young’s 2006 Global Trends for Real Estate. The report forecasts that the US real estate se...
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Pennsylvania scheme backs opportunity fund
REAL ESTATE- Pennsylvania Public School Employees Retirement System has approved an investment up to $200m into the Fortress Investment Fund IV. The pension fund made this decision at its board meeting last month. One of the people involved in th...
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Asian REITS – curb your enthusiasm?
REAL ESTATE - With Asia’s booming real estate market showing no sign of cooling off, demand for shares in the latest REIT IPOs looks to be as strong as ever. At the inaugural Asian Property Leaders Forum, held last week in Shanghai, the cal...
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Sweden’s AMF to double real estate allocation
REAL ESTATE – The SEK281bn (€29.8bn) AMF pension fund is looking to more than double its current 6% investment allocation in real estate. The scheme’s current real estate investment amounts to SEK16.2bn, but it is looking to stre...
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French insurance funds go for Euroffice
REAL ESTATE - French life insurance funds are among new investors in Euroffice fund, asset management firm IXIS AEW Europe said last week as it announced the fund’s first closure. The Eurozone office real estate fund, which has capital of &...
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Institution-backed Carnegie in SEK1.2bn deal
SWEDEN – “A small number of reputable institutions” are set to benefit as Carnegie Fastigheter seals a SEK1.2bn (€128m) Swedish property deal. Carnegie Fastigheter Sverige AB – set up last year by the investment bank ...
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Allianz’s DEGI in €110m Luxembourg buy
REAL ESTATE – Germany’s DEGI said its €1.3bn international property fund has made its first acquisition in Luxembourg city, investing €110m in two new office buildings in the Kirchberg financial district. DEGI, a unit of Al...
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Principal sets up retail joint venture
REAL ESTATE- Principal Real Estate Investors has put together a new joint venture to invest in retail properties in the Southeast region in the US. The real estate manager will be investing along with its partner, Charlotte, North Carolina-based G...
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UK relents on REITS – but leaves the cap on
REAL ESTATE - The UK real estate industry last week celebrated near-total victory in its bid to remove controversial conditions affecting companies that set up REITs from January 2007. IPE Real Estate reported in February that industry bodies incl...
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Unilever scheme holds real estate at 15%
REAL ESTATE - Progress, Unilever’s Dutch pension fund, is to maintain its real estate allocation at around 15%, despite a stunning outperformance in 2005 from equities, which returned 30.2%. Real estate in 2005 generated a return of 8.2%, a...
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Ohio fund commits to mezzanine
REAL ESTATE- The School Employees Retirement System of Ohio has made a $30m (€24.9m) investment into the Fillmore East Fund. This decision was made by the pension fund at its board meeting in the middle of March. This investment falls in li...
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Investors shun Norwegian military land sale
REAL ESTATE – The Norwegian ministry of defence is inviting tenders for the valuation of land and buildings across Norway amounting to 1.5m sq m – but investors are wary. The assets include offices, forest storage facilities, shoreline...
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KarstadtQuelle sells real estate for pensions
REAL ESTATE – The external pension fund of KarstadtQuelle, Germany’s second-largest retailer, will receive part of the €4.5bn in proceeds from the retailer’s sale of its German warehouse portfolio. KarstadtQuelle announced...
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Belgian pension funds get real estate kick
REAL ESTATE – Belgian pension funds’ real estate holdings returned 22.9% in 2005, according to Mercer Human Resource Consulting. “In contrast to the nineties when real estate investments performed poorly, in 2005 they achieved an...
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Institutions global net sellers in 2005 – JLL
REAL ESTATE – Institutional investors were net sellers of global real estate in 2005, according to Jones Lang Lasalle.
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IVG leases Brussels plaza to EU
REAL ESTATE - IVG Immobilien has leased its Brussels Madou Plaza building to the European Union under a 27-year lease. The parties have signed an agreement not to disclose details of the contract. More than 1,200 civil servants from the EU, the Eu...
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Europe commercial investment up 40% - CBRE
REAL ESTATE – Direct investment in Europe’s commercial property market rose 40% in 2005 to hit a new record of €141.7bn, a new study by US real estate broker CB Richard Ellis shows. Of the €141.7bn invested directly in comm...
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MIPIM: deals getting done behind the glitz
REAL ESTATE – Behind the glitz of the recent MIPIM annual real estate industry event in Cannes, there were global real estate asset managers imbued with renewed zeal to pursue relationships and deals with investors and suppliers. Talk of MI...
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PREA meeting: let’s talk emerging markets
REAL ESTATE - Emerging markets was the talk of the town at the Pension Real Estate Association Conference in San Francisco on March 8 and 9. This idea was spelled out to all of the 480 attendees at the conference on countless occasions. One of the…
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CBRE loses German chief Piñol
REAL ESTATE - CB Richard Ellis’s Germany managing director and investment advisory services director Guido Piñol is to join Fortress Investment’s German operations as managing director next month. Piñol will head Fortress...
