News – Page 1103
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Fidelity nabs Cable for real estate push
EUROPE - Fidelity International has hired Neil Cable to drive its entry into the European real estate market. Cable, who joins as Fidelity’s head of real estate in January, will spearhead the firm’s attempt to exploit what it predicts...
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Colonia buys 1,600 Hamburg apartments
GERMAN - Colonia Real Estate AG has bought roughly 1,600 apartments in the Hamburg area for less than €40m. The Cologne-based firm said it acquired the residential portfolio through its wholly owned subsidiary CRE Wohnen GmbH. It’s...
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Rodamco to expand to Central Europe
NETHERLANDS – Retail investment company Rodamco Europe is planning to double its properties in Central Europe, it said. In order to reach its goal, it will be looking at expansion in its existing markets – the Czech Republic, Poland, H...
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Deutsche facing DB Real Estate lawsuits
GERMANY – Deutsche Bank was last Friday scrambling to contain the dual threat of damage to its image and lawsuits following an unprecedented closing of its €6.1bn German real estate fund earlier in the week. According to Deutsche, inve...
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Sal. Oppenheim poaches Ernst & Young team
SWITZERLAND – Ernst & Young’s entire real estate team moved to the newly established Sal. Oppenheim jr. & Cie. corporate finance division on December 1. The team formed part of the larger EY corporate finance business unit, inc...
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Bulgarian developer aims to raise €59m
UK – Bulgarian Property Developments – which focuses on property developments, trading and investment – is planning to raise up to £40m (€59.4m) through the placing of new shares to capitalise on its existing six-site pro...
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Investors pull €1.5bn from Deka
GERMANY – Deka Immobilien Investment, Germany’s leading provider of real estate funds, saw its three flagship funds hit by almost €1.5bn in investor outflows during the first nine months of 2005. The three funds, targeted mainly ...
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CalPERS, LaSalle in $3.4bn Chicago deal
US – The California Public Employees' Retirement System and LaSalle Investment Management are to buy Chicago-based real estate investment trust CenterPoint Properties Trust in a $3.4bn deal. CalEast Industrial Investors – whose members...
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Townsend and Watson in US real estate tie
US - The Townsend Group is to provide real estate consulting services to clients of investment consultant Watson Wyatt in the US. Under the deal Townsend will be the exclusive real estate contractor to Watson Wyatt Investment Consulting. It will p...
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Canada Pension Plan makes €600m retail buy
CANADA - The Canadian Pension Plan Investment Board (CPPIB) has bought two large shopping centres in Quebec: the Galeries de la Capitale in Quebec City and Carrefour de L'Estrie in Sherbrooke. The value of the deal was confidential but Land Regist...
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Scramble for Hong Kong REIT offerings
HONG KONG - A cartoon in Hong Kong’s South China Morning Post sums up the mood. While property agents are having a quiet time after the recent residential market boom, there is a buying frenzy on the stock market as investors scramble for share...
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Dubai set for new real estate law
DUBAI - Dubai could have a new real estate law by the end of the year, according to a senior officer at government-owned developer Dubai Properties. Haiyan Mujarjech says the law, designed to encourage greater foreign investment in the emirate, h...
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Dutch schemes in deal with Altera Vastgoed
NETHERLANDS – The Stork and PNO Media pension funds are to transfer their €90m Dutch real estate portfolio to, and become shareholders in, real estate group Altera Vastgoed. The funds will become shareholders in Altera and its four sec...
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€242m Arlington sells to Macquarie Goodman
UK - The Australian Macquarie Goodman group is acquiring UK-based Arlington Securities in a deal to be completed on December 23. The transaction values the Arlington business at £163m (€242m). A spokesman claimed the companies were att...
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NAEV wins IPE award for property investment
A medical pension fund from North Rhine Westphalia in Germany has won the themed award for property investments at the fifth annual IPE Awards in Berlin. Nordrheinische Aerzteversorgung (NAEV) triumphed amid a strong field of contenders for the a...
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Pan-European PREFF now 65% invested
EUROPE – The Pan-European Real Estate Fund of Funds is now 65% invested and still open for UK institutions, says investment adviser OPC, Oxford Property Consultants. OPC said the euro-denominated PREFF is the first core/core-plus real estate...
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Rockpoint closes $1.7bn fund
GLOBAL - Rockpoint Group says it has closed its third discretionary real estate fund with $1.7bn (€1.4bn) in commitments. The Rockpoint Real Estate Fund II’ investors include large US public and corporate pension funds and endowments, ...
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Morgan Stanley in joint venture with Lane Co.
US - Morgan Stanley Real Estate and property outfit The Lane Company have come together to establish a joint venture to invest in residential property. Equity of $150 million has been put into the venture. The amount of leverage will be in the bal...
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Ex-ATP team at Sparinvest in fund launch
DENMARK - Kresten Dahl Juelner and Mads Rude’s move from the real estate department of pension fund ATP to Sparinvest Property Investors is about to bear fruit for the boutique investment manager. The partners will soon announce the first cl...
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London Merchant to demerge investment arm
UK – James Wilson, managing director at US private equity firm Boston Ventures, is to head the spun-off investment arm of developer London Merchant Securities. LMS said it plans to demerge its investment division – Investco – fro...
