News – Page 1166
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Vesteda in Netherlands mulls cross-border operations
REAL ESTATE - The €4.5bn residential Dutch property investor Vesteda is considering starting cross-border operations, it has announced. "The Netherlands has a closed housing market, in which the government decides the prices in almost...
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San Joaquin County opts for value-add-opportunity funds
REAL ESTATE – The San Joaquin County Employees Retirement Association has approved an investment plan for 2007 that will be placing $60m (€45.5m) to $100m into a mixture of either value-added or opportunistic commingled fund commitments....
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Sicilian launch for public building fund
REAL ESTATE - Pension funds will be offered 10% of a fund set up this month to invest in Sicilian public buildings. Fondo Immobiliare Pubblico Regione Siciliana (FIPRS) – a joint venture between the region of Sicily, Deutsche Bank real esta...
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Los Angeles City approves new emerging manager policy
REAL ESTATE – The Los Angeles City Employees’ Retirement System has approved a new emerging manager policy for its real estate investment plan. The pension fund made this decision in conjunction with its real estate consultant Townsend...
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New Interpolis-Achmea property company names directors
REAL ESTATE - Three former directors of the merged property companies of Interpolis and Achmea will head up the new Netherlands-based organisation. The new real estate company, which is yet to be named, has appointed former Interpolis Vastgoed exe...
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Canadian plan makes first move into US market
REAL ESTATE - The Canada Pension Plan Investment Board makes its first major move into the US with a $500m (€378.3m) investment with TIAA-CREF Asset Management. Graeme Eadie, senior vice president of real estate investments for CPP Investmen...
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Dutch 2006 commercial returns rise to 12.5%
REAL ESTATE - The total returns on all commercial property in the Netherlands were 12.5% in 2006, ROZ-IPD Netherlands Property Index has reported. Returns have increased for the fifth consecutive year, and were the highest since 2000, the property...
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Italy matures as investors look beyond prime
REAL ESTATE - Pressure on yields in the maturing Italian office market is pushing investors towards secondary cities and alternative sub-classes, according to a report published by property firm Savills. Continuing demand for prime locations will...
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Danish yields near record highs of 2005
REAL ESTATE - Yield compression drove returns for Danish real estate up to 17.8% in 2006, according to property data group IPD. This is the second highest return since the index launched in 2000. Overall, yields on Danish real estate fell by 60 b...
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European property market turnover hits €227bn in 2006
REAL ESTATE - The European commercial real estate market has doubled over the past two years, According to a CB Richard Ellis report just published, turnover increased 46% last year to €227bn, following an increase of 47% the previous year....
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Investors should communicate concerns to managers - INREV
REAL ESTATE - "INREV works hard to persuade fund managers to provide more comprehensive data, but investors also have a role to play in encouraging managers to do this as well," INREV CEO Lisette van Doorn spelled out to IPE Real Estate at ...
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DIM Vastgoed to sell entire US retail portfolio
REAL ESTATE – Dutch property investor DIM Vastgoed is considering selling its entire $505m (€380m) portfolio of US retail centres. The company aims to profit from the "current exceptionally favourable sellers’ conditions in...
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Ohio School Employees places capital into two commingled funds
REAL ESTATE - The School Employees Retirement System of Ohio has approved commitments into two commingled funds. These were Colony Investors VIII and CB Strategic Investors Europe Fund III. The pension fund made an allocation of up to $75m ($57m ...
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LPFA scouts global property manager
REAL ESTATE - The £3.6bn (€5.3bn) London Pensions Fund Authority (LPFA) is looking for an external investment manager to expand its £150m real estate portfolio outside the UK. The portfolio, which up to now has been managed in-hou...
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Oregon PERF places first investment in opportunistic portfolio
REAL ESTATE - The Oregon Public Employees Retirement Fund(OPERF)has made its first investment in its opportunistic portfolio that was created in 2005. The initial investment in this asset area was a $100m (€76.3m) commitment to the Fidelity ...
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CSAM UK property team defects to Aberdeen
UK – Glenn Newson, former head of UK property at Credit Suisse Asset Management (CSAM), has defected to Aberdeen Property Investors. He has taken six people from his team with him. Newson, who had left CSAM a few years back, joins Aberdeen ...
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Corio to issue €923m in notes to finance more retail projects
REAL ESTATE - Property investor and manager Corio is to issue €923m senior unsecured notes, to finance debt and pipeline projects. The issuance – in US dollars - will be made through a private placement to approximately 30 (institution...
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Ohio Police & Fire invests in Blackstone opportunity
REAL ESTATE - The Ohio Police & Fire Pension fund has invested $20m (€15.3m) into the Blackstone Real Estate Partners VI opportunity fund. The fund decided on this at recent board meeting, having been advised by real estate consultant, T...
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Moor Park buys 91 German and Dutch hotels from Accor
REAL ESTATE – Moor Park, a London-based real estate fund provider, has paid €863m to acquire 72 hotels in Germany and 19 in the Netherlands from French hotel chain Accor. Under the deal, Accor will rent the hotels, which fall under the...
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Alaska pension fund on point of infrastructure allocation
REAL ESTATE - The Alaska Permanent Fund(APF) will be making a formal allocation in the near future to infrastructure investments. The outcome at a recent fund board meeting was not to make a formal allocation at this time, though the move will b...
