News – Page 1136
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Protego seizes off-market opportunity to shop
FINLAND - Protego Real Estate Investors has acquired Helsinki’s Kamppi shopping centre for €452.5m in an off-market deal.
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Ohio PERS eyes overseas REITs
UNITED STATES - Ohio Public Employees Retirement System is looking at creating an international REITs investment strategy.
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Pramerica takes its next Latam leap
UNITED STATES - Pramerica Real Estate Investors has closed its latest Latin American commingled fund and completed its first transaction in Chile.
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Chicago Teachers buys Asian exposure
UNITED STATES - Public School Teachers’ Pension and Retirement Fund of Chicago has extended its international real estate exposure by agreeing to allocate $40m (€25.7m) to the Merrill Lynch Asia real estate opportunity fund.
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CB Richard Ellis enters entity level
UNITED STATES - CB Richard Ellis Investors has completed its first ever entity level transaction and acquired a majority share in Atlanta-based apartment developer Wood Partners.
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IPE Real Estate Forum & Awards- few sponsored placed left
IPE still has a few sponsored places left for capital owners (pension funds, insurance companies, foundations,) to attend this year’s IPE Real Estate Investor Forum & Awards in Berlin on 22-23 May, Berlin.
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Size mattered in UK property correction – L&G
UK - The speed with which the UK real estate market has corrected in recent months is partly because of the huge changes in its investor base, according to Legal & General’s latest fundamentals briefing in London on Tuesday.
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E&Y turns its spotlight on Germany
GERMANY - Real estate investors expect Germany to be the best performing European real estate market in 2008, according to a survey by Ernst & Young Real Estate.
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Maryland State to double real estate allocation
UNITED STATES - Maryland State Retirement Agency is doubling its targeted allocation for real estate from 5% to 10%.
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LACERA books $250m into hotels and Reits
UNITED STATES - Los Angeles County Employees Retirement Association has approved $250m (€158.9m) worth of new real estate commitments, to invest in listed real estate and hotels.
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Mass PRIM plants natural resources RFP
UNITED STATES - Massachusetts Pension Reserves Investment Management Board has issued a Request for Proposal (RFP) for a global natural resources investment mandate worth $900m (€570.6m).
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Pennsylvania eyes opportunities in $461m placement
UNITED STATES - Pennsylvania Public School Employees Retirement System has approved new real estate commitments totaling $461.5m (€293.5m) in the opportunistic sector.
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San Francisco extends real estate holdings
UNITED STATES - San Francisco City and County Employees’ Retirement System made changes to its real estate portfolio to take advantage of market dislocation.
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Ilmarinen to finance Sponda’s Russian expansion
FINLAND/RUSSIA - Finnish pensions provider Ilmarinen has signed a deal to part-fund property firm Sponda’s aggressive Russian expansion strategy.
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ING shuffles European managers for healthcare launch
NETHERLANDS - ING Real Estate Investment Management (ING REIM) has shuffled its European management team ahead of the launch of the firm’s first healthcare property fund.
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West Sussex mulls overseas move
UK - West Sussex local authority pension fund has reappointed Cushman & Healey in a £340,000 deal to manage its direct property portfolio.
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CPPIB renounces rights to acquire Auckland airport
CANADA/NEW ZEALAND – THE Canada Pension Plan Investment Board (CPPIB) has headed off government attempts to block foreign ownership of strategic infrastructure assets, by gaining 57.7% shareholder approval for a carefully worded bid for a minority stake in Auckland International Airport.
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Developing Europe keeps investors local
EUROPE - Turkey and Russia now outclass other European property markets for both development and investment, indicating a shift away from “Old Europe” towards new holdings and developments, suggests a report co-published by the Urban Land Institute and PwC.
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Sustainability standards possible in two years
EUROPE - Global reporting standards on real estate sustainability are achievable in two years, delegates were told at the British Property Federation’s first ever international sustainability session at last week’s MIPIM convention in Cannes.
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Snippe resigns from Philips scheme’s board
NETHERLANDS - Jan Snippe, member of the management board of the €14.6bn Philips pension fund has resigned, a company spokesman has confirmed.
