News – Page 1184
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News
CBRE Netherlands manager sets up own firm (Correct)
REAL ESTATE - Fred Rikken, manager of CB Richard Ellis’s Hoofddorp office in the Netherlands, is leaving to set up his own firm (Corrects to reflect no job losses at CBRE). He will take Siem-Jan Vos and Serge Wuts, both from CBRE’s Glo...
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Oregon in talks on new GID commingled fund
REAL ESTATE - General Investment & Development (GID) is getting prepared to close the money raising portion of its latest commingled fund, Windsor Realty Fund VII. The total amount of capital that would be raised is in the neighborhood of $170m.
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Italy may tax commercial property deals
REAL ESTATE - Real estate firms and leasing companies operating in Italy will lose out under a draft law that removes tax relief on commercial property transactions involving structured finance, according to rating agency Standard & Poor’s....
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Japanese funds ‘may up real estate allocation’
REAL ESTATE – Japanese pension funds may soon increase their allocations to real estate, says a spokesman for Japan’s Association for Real Estate Securitisation. In North America and parts of Europe, it is not uncommon to see pension f...
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European, US schemes back Prudential fund
REAL ESTATE – Major European and US pension funds have invested $700m (€554m) in Prudential Real Estate Investors (PREI)’s PRECO III closed-end real estate opportunity fund. Investors in the global fund include unnamed Irish and...
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IPE-QUEST: Dutch fund tenders real estate
NETHERLANDS – A Dutch pension fund has tendered €50m-60m in pan-European publicly traded European real estate via IPE-Quest. The investor is looking for a manager to actively manage a mandate of publicly traded European real estate, sa...
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Irish reserve fund commits to US real estate
IRELAND – The €16.3bn National Pensions Reserve Fund made commitments of €70m to two US-based property investment vehicles in the second quarter. The fund committed €31m to a vehicle managed by Capital Trust and €39m ...
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Chicago Police pick first real estate consultant
REAL ESTATE - The $3.9bn (€3.1bn) Chicago Policemen’s Annuity & Benefit Fund has selected Cleveland-based Courtland Partners as its first ever real estate consultant. The fund made the decision at its board meeting in June as it ...
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Germany: institutions lap up Adler share issue
GERMANY – US and German institutional investors have apparently piled into a new issue of stock by German real estate company Adler. Buyers of the stock – designed to give the company extra flexibility – had a “large intere...
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Los Angeles changes real estate allocation
REAL ESTATE - The $9.54bn (euro) Los Angeles City Employees’ Retirement System has changed its targeted real estate allocation. It had a targeted real estate allocation of 7% but has decided to move this allocation to a funding target of 3...
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Deal digest
REAL ESTATE – A digest of the latest real estate deals involving: Scarborough, GE Real Estate, CBRE, Multi Development, RREEF, and Savills. Scarborough mops up German logistics Scarborough Continental Partners, a joint venture between Sc...
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Principal to invest in New York residential
REAL ESTATE - Principal Real Estate Investors has created a $300m (€239m) joint venture with The Dermot Company to invest in apartments in New York City. The equity in the deal is $100m, with the majority coming from Principal. The pension ...
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Van der Kooij joins Arlington for pension role
REAL ESTATE - Wim van der Kooij has joined Arlington’s Amsterdam office to co-manage a fund for Swedish pensions firm Alecta Pensionförsäkring. Van der Kooij, who used to manage the Dutch steelworkers’ pension fund, joins Ar...
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China considers further restrictions
REAL ESTATE - China’s concern that overseas buyers are causing an overheating of the country’s real estate market has resulted in further measures being considered to restrict foreign ownership. Local banks in Shanghai have already co...
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Hearthstone raises $600m
REAL ESTATE- Heathstone has raised $600m of equity for its latest commingled fund, Hearthstone Housing Partners III. This will be one of the largest single-family investment funds in the country. There will be up to 70% leveraged employed on th...
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Altera Vastgoed names two new directors
REAL ESTATE - Cyril van den Hoogen and Robert Eujen have been appointed as CFO and director of portfolio management respectively at Altera Vastgoed, the real estate fund has announced. Both have been working for the private fund for pension scheme...
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Ohio fund approves real estate investment plan
REAL ESTATE - The School Employees Retirement System of Ohio has approved its annual real estate investment plan for fiscal 2007 at its board meeting in late June. One of its new investment strategies for the next 12 months will be to consider inv...
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Blue Sky makes real estate appointments
NETHERLANDS - Blue Sky Group, the Dutch pension fund manager which runs the KLM pension fund, has made several real estate appointments. It named Raymond Satumalaij as fund manager, real estate. Satumalaij takes over from Jan van der Pol, who reti...
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Pitfalls seen in student housing asset class
REAL ESTATE – There’s been a warning over the possible pitfalls of student accommodation as an asset class from a partner at real estate consulting firm Knight Frank. Speaking at a conference in London recently – ‘REITs: An...
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London pension funds shun Olympic Village plan
REAL ESTATE - Cash to spend and an eye for the long term make pension funds the ideal investment partners to build the UK’s 2012 Olympic village, according to its real estate advisers – yet pension funds approached by IPE Real Estate indi...
