News – Page 1115
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T.Rowe Price turns attention to globe real estate
US/GLOBAL – US-based asset manager T. Rowe Price is launching a global real Estate strategy in a bid to expand its global investment opportunities.
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Empty rates reform are 'empty promise'
UK - UK government proposals to temporarily scrap rate for empty properties with an estimated value of less than £250,000 (€299,110) are nothing more than empty spin and do little to help the market, according to property experts.
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North Yorks awards ING global property mandate
UK – North Yorkshire County Council has agreed to appoint ING Real Estate as global property manager for its £1.07bn (€1.26bn) local government pension fund.
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New Star loses shine with real estate investors
UK – The £673m (€811m) New Star International Property fund has been forced to temporarily suspended dealings following an increase in redemptions from institutional clients.
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Power call for property researchers
GLOBAL - Property researchers should be given greater decision-making powers and must work more closely with risk management, according to Jose Luis Pellicer from ING Wholesale.
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CalPERS’ sustainability reduces tenants energy use
US – The California Public Employees’ Retirement System’s (CalPERS) real estate partners have helped make significant progress towards the pension fund’s environmental goals.
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Real estate derivatives gain fresh impetus
UK - Derivatives offer real estate investors good opportunities to diversify their portfolio, according to property experts at the ING Real Estate Annual Seminar.
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Oregon to follow on Guggenheim fund
UNITED STATES - Oregon Public Employees Retirement Fund has approved a $100m (€78.6m) commitment into the Guggenheim Fund II(a),which follows a fund launched in 2006.
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Ohio School Employees to redeem real estate assets
UNITED STATES - School Employees Retirement System of Ohio is in the process of issuing redemption queues on the RREEF America REIT II and BlackRock Strategic Apartment funds.
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Oregon to follow on Guggenheim fund
UNITED STATES - Oregon Public Employees Retirement Fund has approved a $100m (€78.6m) commitment into the Guggenheim Fund II(a),which follows a fund launched in 2006.
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Property sector finally unveiled for UK unlisted market
UK – The Investment Management Association (IMA), trade body to the £3.4trn (€3.99trn) UK fund management industry, and its Performance Category Review Committee (PCRC) have created a new property sector.
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Dubai acts to shore real estate from market risk
MIDDLE EAST - The Dubai Government has formed a committee to tackle the impact of the financial crisis on its previously affluent property market and to restore investors’ confidence.
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Grosvenor reviews its business priorities
EUROPE- Grosvenor is planning to concentrate on developing its fund management business in continental Europe.
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Aviva signs new real estate finance chief
UK – Aviva Investors has announced the appointment of Marcus Shepherd as the company’s new real estate finance director.
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Negative rental growth now global
GLOBAL – Rental growth has turned negative on a global scale and the downturn in emerging markets is accelerating, the Royal Institute of Chartered Surveyors (RICS) finds in its latest quarterly global report.
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UK sets new record for fall in capital values
UK – UK commercial property capital values fell by record levels last month, according to Investment Property Databank (IPD).
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UK will start to recover in 2010 – Schroders
UK – The UK commercial real estate market will not stabilise until the latter part of 2009 but should begin to recover in 2010 according to Schroder Property.
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PME looks for global opportunities
NETHERLANDS – Pensioenfonds van de Metalektro (PME) is diversifying its real estate exposure by investing opportunistically on a global basis.
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Europe to produce ‘acceptable’ returns in the medium-term
EUROPE – Investors can generate “acceptable or attractive” returns from most of the European markets over the medium-term, according to a report by Invesco Real Estate.
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Orion ready for European bargains
Europe – Orion Capital Managers has raised €900m of capital for its latest opportunistic property fund which will aim to buy bargain real estate across Europe.
