News – Page 1190
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Latest Hong Kong REIT hits the road
REAL ESTATE - This week the roadshow for the latest Hong Kong REIT initial public offering hits Europe and the US. The Champion REIT from Great Eagle Holdings plans to offer a yield of between 4.85% and 5.5% in the planned $900m offering. Loca...
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LA Fire & Police pensions in €102m move
REAL ESTATE- The Los Angeles Fire & Police Pension System has made $130m (€102.2m) in real estate investments by committing capital to a new REIT manager and two commingled funds. The fund selected Principal Global Investors as its third...
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L&G pooled pension fund ups London allocation
REAL ESTATE - Legal & General’s pooled property pension fund has acquired a £25.6m (€37.3m) office block as part of the firm’s strategy to up its weighting in central London real estate. The firm acquired the refurbishe...
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UK church rebalances real estate portfolio
REAL ESTATE – The £4.9bn (€7.1bn) Church Commissioners fund – responsible for paying vicars’ pensions – rebalanced its commercial property holdings in 2005 to increase diversity and reduce risk. “There was ...
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Dutch set up real estate watchdog
REAL ESTATE - Five Dutch investment companies and real estate asset managers say they have taken the initiative towards an independent watchdog. The aim of the new foundation – Stichting Transparantie Vastgoedfondsen or STV – is to inc...
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Strong Germany boosts Jones Lang Lasalle
REAL ESTATE - Jones Lang Lasalle last week reported net income of $4.6m (€3.67m) for the first quarter of this year – bucking a trend in recent years to report first-quarter losses. Global revenues were up 40% to $337m over 2005, wit...
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ING launches China fund, plans REIT
REAL ESTATE - ING Real Estate is to launch its first fund in China later this year. The firm expects to raise between $200m—250m (€163m—€204m) for the China Opportunities Fund from Asian, European and US institutional inve...
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Dutch real estate group Corio names CFO
REAL ESTATE - John Kuik will join the board at Corio as chief financial officer at the beginning of May, the Utrecht-based property company said last week. He will replace Jan Procter, who has served as interim CFO since August 2005. Asked wh...
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Dawnay Day plans India real estate funds
REAL ESTATE - UK investment house Dawnay Day has plans to launch real estate funds in India this year. Its joint venture Indian business, headed by Alok Vajpeyi, is already active in real estate development projects. Vajpeyi, a former Swiss Bank ...
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Finland’s Espoo recruiting real estate managers
REAL ESTATE – The Finnish city of Espoo is scouting for investment teams to manage a new €364m fund being created. The municipality will capitalise the fund, designed to support the city’s long-term infrastructure and real estat...
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California funds active in real estate market
REAL ESTATE – Three large California-based pension funds have been active in the real estate market recently. They are the San Jose Federated City Employees Retirement System, the California Public Employees Retirement System and the Sacrame...
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ABP eyes Asia as sector gets professional
REAL ESTATE - Stichting Pensioenfonds ABP, Europe’s largest pension fund, plans to increase its real estate allocation in Asia, citing the increasing professionalism of the Asian real estate and the emergence of REITs. “The increasing ...
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Credit Suisse nabs Rudolf for Swiss role
REAL ESTATE - Credit Suisse has appointed Claudio Rudolf as a director in charge of acquisition and sales for its Swiss Real Estate Asset Management business. “As a director, he will directly report to Markus Graf, head of Real Estate Asset ...
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US funds 'double real estate commitments'
REAL ESTATE – The 50 largest public pension funds in the US made almost $20bn (€15.8bn) in new real estate commitments last year – double the 2004 figure – according to industry research. The total real estate holdings of t...
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Global commercial property investment jumps
REAL ESTATE - Global direct investment in commercial real estate jumped $100bn (€80bn) last year to $475bn, according to new research. Foreign investors in the US market accounted for almost half of the 21% increase, according to ResearchWor...
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Investors pull €1.3bn from DB Real Estate
REAL ESTATE – DB Real Estate’s embattled core German fund has been hit with another €1.36bn in investor outflows since it was re-activated on March 3, according to the new statistics from German fund industry association BVI. The...
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Clarion to develop new industrial properties
REAL ESTATE - Clarion Partners has created a joint venture with Trammell Crow Company to develop two new industrial buildings in Beaumont, Calif. The development will build two warehouse/distribution buildings within the Beaumont Business Park on ...
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Fortress to float German real estate
REAL ESTATE – US private equity firm Fortress plans to float part of its German real estate holdings on stock exchanges by the start of 2007, a spokesman for the firm has confirmed. Since entering the German market in 2004, Fortress has acqu...
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Deutsche’s RREEF in $500m Russia venture
REAL ESTATE - RREEF, Deutsche Bank’s real estate investment arm, has announced its entry into the Russian real estate market via a joint venture with local firm RBI to develop residential and mixed-use projects in St Petersburg. The pipelin...
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Belgium’s KBC scheme shifts to real estate
REAL ESTATE - Belgian bank KBC’s €870m pension fund is to shift 3% of its equity allocation to real estate after ruling out investing in hedge funds. Edwin Meysmans, managing director of the firm’s defined benefits scheme, said...
