News – Page 1118
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'Flat' review sparks talk over UK housing potential
UK – A government-commissioned report on proposed reforms for UK rented housing has sparked a debate which suggests the country’s top property experts disagree on the best way to help investors tap opportunities in the UK’s residential marketplace.
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Grosvenor to buy a ride on the Chinese dragon
ASIA/UK – Grosvenor, the London-based group of international property investment, development and fund management businesses, has launched a $600m (€468.7m) China retail fund.
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Alameda County opts out of JP Morgan commingled fund
UNITED STATES - Alameda County Employees Retirement Association has decided it wants to pull out of its commitment to JP Morgan’s Alternative Property Fund.
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Ohio PERS grabs opportunity to look beyond the value-add
UNITED STATES - Ohio Public Employees Retirement System will be shifting some of its investment capital in real estate to an opportunistic strategy in a bid to tap the little investment likely to surface over coming months.
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CalPERS reserves $400m for hotel fund
UNITED STATES - California Public Employees Retirement System has made a $400m (€300.4m) commitment to the Starwood Capital Hospitality Fund II, following earlier success with an first version of Starwood’s specialist fund.
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SanFran to become selective in real estate
UNITED STATES - San Francisco City and County Employees’ Retirement System is slowing down its real estate decisions to match the state of the US market and will make very selective investment decisions for the rest of the year.
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California Uni puts real estate on ice
UNITED STATES - The University of California Retirement Plan has put plans to increase its real estate target allocation on hold until markets turbulence and returns have calmed.
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APG pushes forward to meet infrastructure target
NETHERLANDS – APG, the asset manager of the €193bn ABP pension fund, is pushing forward to meet its infrastructure investment target of €4.5bn for 2009, even though opportunities are now drying up in the asset class.
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US managers begin switch from deals to strategy
UNITED STATES - US real estate investment managers are shifting their focus away from deal-specific research to strategic portfolio analysis, more in line with their European counterparts, as a side effect of the current market uncertainty, according to the International Property Databank (IPD).
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Prupim phases sustainability push beyond the UK
UK/GLOBAL – Prupim, the real estate investment manager, is planning to expand its approach towards sustainability worldwide and address the performance of its international portfolio, with research due to start in North America next month.
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Mixed opinions surface over Middle Eastern property
MIDDLE EAST – Experts are predicting the Middle Eastern real estate markets will significantly outperform all other regions yet the latest data from a central bank suggests real estate valuations in the region have already been hit by the credit crunch.
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INREV calls for single best practice framework
GLOBAL - Fund managers and investors have been invited to consider plans to combine all eight industry guidelines established by the European Association for Investors in Non-Listed Real Estate Vehicles (INREV) into one integrated best practice document.
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Office deal spreads EPISO assets across France
EUROPE – The European Property Investors Special Opportunities (EPISO) fund has increased its property holdings in France after purchasing a €145.6m portfolio from Credit Agricole Asset Management.
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Ontario begins foundations outside Canada
UK/CANADA – Ontario Municipal Employees Retirement System (OMERS), one of Canada’s largest pension funds with net investments of CA$52bn (€32.4bn), is expanding its global presence with the opening of an office in London.
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Dip in property values lower French and Japanese gains
FRANCE/JAPAN – Commercial real estate returns in the French and Japanese property investment markets have quickly slowed to deliver lower returns, the IPD’s biannual studies have revealed.
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Merrill to invest $2.65bn in Asian real estate
ASIA – Merrill Lynch has closed its Asian Real Estate Opportunities Fund after raising $2.65bn for investments despite the turbulent economic climate.
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Investors call for Thai real estate rule change
THAILAND – Thailand’s government is being urged to relax foreign ownership regulations governing real estate, in a bid to shore up its residential property market during the global economic downturn.
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Financial stress showing on apartment complex
UNITED STATES- The Stuyvesant Town/Peter Cooper Village apartment complex in New York, which is backed financially by pension funds, is going through some financial stress.
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Mass PRIM makes additions in real estate
UNITED STATES - Massachusetts Pension Reserves Investment Management Board has selected a new real estate consultant and added an office building to its real estate portfolio.
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GIC to invest in debt fund worth $2.5bn
UNITED STATES - Divco West Properties and LoanCore Capital have come together to form a $2.5bn (€1.8bn) investment fund which will target real estate debt opportunities at major institutional investors such as Singapore’s GIC.
