News – Page 1105
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Illinois Teachers up core office component
US - The Teachers' Retirement System for the State of Illinois has added to its exposure of core office buildings with a $100m (€85.4m) commitment to the Hines-Sumisei US Core Office Fund. The teachers' pension made the investment to address...
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AXA REIM opens Budapest office
HUNGARY - AXA Real Estate Investment Managers has opened an office in Budapest, headed by former DTZ executive John Verpeleti. AXA said the initial acquisition focus would be on the Czech Republic, Hungary, Poland and Slovakia. "The team will...
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IPD rescued in €16m deal
UK - Investment Property Databank (IPD) became the biggest news at its own annual conference last week when it announced its independence had been guaranteed by a "white knight" consortium of investment managers and developers. Hermes, M...
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Arizona scheme commits to Rothschild
US - The Arizona State Retirement System (ASRS) has become the latest investor in Rothschild Realty's Five Arrows Realty Securities IV fund. The €22bn pension scheme has made a $75m (€64.1m) commitment. Gary Dokes, ASRS' chief investm...
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LaSalle's Lewis joins Cordea Savills
UK - LaSalle Investment Management's Chris Lewis is to join Cordea Savills in January next year as director of UK fund management. Cordea said Lewis brings experience of managing segregated mandates for corporate pension schemes and a track record...
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Protego in €120m buy for UBS fund
UK - Protego Real Estate Investors has made two UK property acquisitions with a combined value of £81.2m (€120.7m) on behalf of UBS' Wealth Management UK Property Fund. The acquisitions are comprised of the Newlands Shopping Centre in...
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Ohio Police & Fire joins value-added US fund
US – The Ohio Police & Fire Pension Fund has made a $20m commitment to the CB Richard Ellis Strategic Partners IV commingled fund. The investment forms part of Ohio Police & Fire’s high-return investment strategy. It will be o...
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IPE-QUEST: Two new searches on system
GLOBAL – There are two new searches on IPE-QUEST.com. One is for a US and Canada real estate manager, and the second is for an Asia Pacific (including Japan) real estate manager. More than one manager can be selected for each region. ...
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Funds put faith in urban investment
US – Two California-based pension funds have committed capital to an urban investment strategy using commingled funds. The Los Angeles County Employees’ Retirement Association has made a $60m investment into UrbanAmerica II and the Los...
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Shurgard reconsiders
US – After rejecting unsolicited buy-out overtures from self-storage REIT giant, Public Storage, for four months, the board of US self-storage REIT Shurgard Storage Centers has done an about-face and decided to explore the sale of the company. ...
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Macquarie Goodman prepares Hong Kong REIT
Macquarie Goodman is expected to be third in line to launch a Hong Kong REIT. The move is expected sometime in early 2006, according to Colliers director in Hong Kong, Herrick Lee. Lee says that following on from the Link and Prosperity REITs,...
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Pension funds surge into US REITs
US – Several large public pension funds are preparing to jump into publicly traded real estate securities (REITs). Industry insiders are predicting that $500m (€422m) of new capital will be invested in REITs by public pension funds ov...
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LaSalle IM gets €4.1bn boost
GLOBAL – LaSalle Investment Management, the asset management arm of Jones Lang LaSalle, has gained $5bn (€4.1bn) in assets under management in the past year. JLL said in its third-quarter report that Lasalle IM’s investments were “exceeding expect…
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US REIT group NAREIT names chairman
US - Scot Sellers of Archstone-Smith is to take over as chairman of the trade US real estate investment trust trade body NAREIT. Sellers, chairman and chief executive at Archstone, will take over at the National Association of Real Estate Investme...
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UK REIT uncertainty “overdone” – Merrill Lynch
UK – Uncertainty over real estate investment trusts in the UK is “overdone” Merrill Lynch reckons. “We think fears and uncertainty on bonds, yield compression, consumption and REITS, are all overdone,” Merrill said in a research note. “There ha...
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ING Real Estate management shakeout
NETHERLANDS - Jan Eijkemans, general manager of ING Real Estate Development, has quit to make room for new management at the unit. The departure is the second senior figure to leave recently. In September, Paul Trip, chief executive of development...
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Real estate demand key says Oppenheim
GERMANY – Real estate has been identified as an important source of institutional demand by the head of asset management at German private bank Sal Oppenheim. “Real estate will be an important demand source in the next years,” said Bernd Borgmeier...
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MN Services eyes real estate partnerships
NETHERLANDS – Dutch pension group MN Services has revealed it is looking for partnerships in the real estate sector. The admission comes after a series of real estate executives left the firm earlier this year. “We’re also looking for partnersh…
