News – Page 1114
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OMERS makes strategic move to private equity
CANADA – The Ontario Municipal Employees Retirement System (OMERS) has launched a new investment entity which will invest in private companies focused on real estate development, airports and energy.
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Demand for logistics creates investment potential
EUROPE – Jones Lang LaSalle has identified Europe’s seaports as logistics hotspots for growth on the back of a significant increase in demand.
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CalSTRS awards capital to existing managers
UNITED STATES - California State Teachers Retirement System has bucked the trend and issued new capital to real estate managers, to could be used for potential investment in 2009.
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Diebold’s pension moves into real estate
UNITED STATES - Diebold Corporation’s $450m (€356.5m) defined benefit pension fund has made its first move into real estate investment and made a $10m commitment to JP Morgan’s open-ended Strategic property fund.
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Aberdeen sells Belgian real estate operation
BELGIUM - BNP Paribas Real Estate Property Management has announced it is acquiring Aberdeen Property Investors Belgium.
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ING REIM to cut UK jobs
UK - ING Real Estate Investment Management (ING REIM) has announced up to one-fifth of its staff in the United Kingdom face redundancy following a costs review by the firm.
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Prupim arrival to make derivatives push
GLOBAL – Will Robson, property research analyst at Prupim, has been promoted to property derivatives director to help drive its focus and tap market opportunities.
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Investors see shine fade on German property
GERMANY- German investor sentiment in real estate has plummeted and is paralysing the industry, consultancy firm King Sturge has claimed, as economic data continues to fall.
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Pension funds scramble to fly UK airport bids
CANADA/UK - Ontario Teachers’ Pension Fund is working with 3i’s infrastructure fund on a potential bid to buy Gatwick Airport in a deal which could be worth more than £1.5bn (€1.8bn), but other pension funds are thought to be considering deals too.
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Experts name valuations as the next big headache
UK/GLOBAL – The inconsistent valuation process is one of the main challenges facing the real estate industry at the moment, according to experts at the IPD/IPF Property investment Conference 2008 held in Brighton last week.
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Domestic markets to see renewed focus
UK – The number of foreign investors investing in UK property is likely to drop in the short-term as the economic turmoil has made investors more cautious and selective, according to experts at the latest IPD/IPF Property Conference.
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Less call for leverage predicted
GLOBAL - Leverage is likely to become less important to property investors given the financial turmoil, according to Ian Gleeson, chief investment officer of global multi-manager investment at CB Richard Ellis Investors.
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Invista reveals pressures as dividends halted
UK/EUROPE - Invista European Real Estate Trust SICAF is suspending dividend payments in a bid to conserve cash and to deleverage the company.
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CBRE trains its eye on Middle East
ASIA - CB Richard Ellis (CBRE) has revealed it is opening an office in Bahrain as part of the development of the company’s Middle Eastern business.
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NAREIT reveals an uncertain future for REITs
UNITED STATES - The National Association of Real Estate Investment Trusts’ annual convention in San Diego last week confirmed there is serious concern about the future of the REITs market in the current climate and how that will play out over the next couple of years.
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Texas Teachers considers mezzanine debt
UNITED STATES - Teacher Retirement System of Texas may be one the of few US pension funds to make a major investment this as officials are thinking of investing $150m (€116.9m) in mezzanine debt.
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Schroder sees a future in ‘blind funds’
UK – Blind funds are likely to attract institutional investors entering the property market, according to William Hill, head of property at Schroders.
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UK REITs could turn market liquidity - Deloitte
UK – UK residential Real Estate Investment Trusts (REITs) will be attractive propositions for institutional investors and could help bring liquidity into the market, according to experts attending an IPD pre-conference meeting in Brighton yesterday.
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UK Reits to struggle but better Europe - managers
UK – UK REITs are entering unprecedented waters and are unlikely to achieve strong investor interest for at least a couple of years, according to Brend Stahli from Merrill Lynch.
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Shake-up at ING RE Canada
CANADA - ING Real Estate announced is making significant management changes to its Canadian subsidiary and losing five members of its senior team.
