News – Page 888
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US pension funds back bespoke UK sale-and-leaseback deal
GLOBAL – Consortium agrees £700m sale-and-leaseback deal to refinance 12 hospitals.
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Allianz downplays construction risk in £1bn infrastructure fund
UK – Fund to invest in greenfield sites to develop hospitals, schools and roads.
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APG acquires stake in £350m UK residential property portfolio
EUROPE – Partnership with UK’s Grainger is asset manager’s first stake in UK residential.
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Pension funds withdraw claim against Henderson Global Investors
UK – Schemes agree to withdraw claim in return for payment by Henderson of legal costs to date.
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Spain, Ireland praised for efforts to recapitalise property sectors
EUROPE – EPRA says REITs seens as most effective, transparent ways of recapitalising sectors.
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German cities offer 'most attractive' real estate investment prospects
EUROPE – European investors continue to favour safe-haven locations for real estate.
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Friday people roundup
GLOBAL – Aberdeen, AEW, Aviva, Blue Sky, C&W, IVG, Pramerica, Rockspring, Threadneedle
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US roundup: Marin County, Teachers' Retirement System of Illinois
NORTH AMERICA – Marin County pension fund replaces Cornerstone with AEW.
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Economics, not bricks and mortar, key to fund manager survival
EUROPE – Managers who neglect economic trends to focus on property specifics 'will not survive'.
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Investors reject construction risk as watchdog warns of lender pullout
EUROPE – UK parliamentary committee threatens changes to licensing regime.
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Continuing euro-zone crisis boosts real estate investor sentiment
EUROPE – More than 80% of Ernst & Young survey respondents expect deal volume to increase.
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Teacher Retirement System of Texas to invest $400m in real estate
NORTH AMERICA – Pension fund approves three commitments over past two months.
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German investors pull out of solar funds, shift into wind
GERMANY – Ratings agency Scope cites increasing competition, uncertainty in Southern Europe.
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US roundup: LA Fire and Police, LA City Employees' Retirement
NORTH AMERICA – Los Angeles Fire and Police Pensions earmarks $85m for real estate.
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Warburg-Henderson converts GOEF into Spezialfonds
GERMANY – German-UK real estate venture uses re-developed properties to start new fund.
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Leverage responsible for failings of real estate funds, ULI says
EUROPE – Urban Land Institute study cites underperforming opportunistic funds.
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NEST tenders UK, global real estate mandates
UK – DC fund currently has limited real estate exposure as part of diversified beta portfolio.
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UK parliamentary report criticises pension fund wind farm 'oligopoly'
EUROPE – Parliamentary public accounts committee demands profit redistribution.
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Retail property in top locations 'immune' to market distortions
EUROPE – Long-term study highlights resilience of high-end retail real estate.
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Growth of real estate Spezialfonds hit by uncertainty over AIFMD
GERMANY – Schroder Property says heated debate over directive scared institutions off funds.