News – Page 966
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Monday people roundup
GLOBAL – CB Richard Ellis Investors, Invesco Real Estate, Quintain Estates & Development, UNITE, CLS Holdings
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US apartment market in early period of recovery, says Pramerica
GLOBAL – The US apartment market is in the early parts of a recovery, according to Pramerica Real Estate Investors.
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UK real estate values to fall in 2011, offset by income returns, says Invista
UK – The recovery in capital values in the UK real estate market slowed to a crawl in October and is expected to see a reversal in fortunes over 2011.
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Solvency II will lead 75% of European insurers to revise property strategies
EUROPE – Close to three-quarters of European insurance companies will revise their real estate commitments as a result of incoming Solvency II regulations, according to data providers Preqin.
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Investors flock to DIC Asset's German office fund
GERMANY – DIC Asset has secured more than three-quarters of the €117m capital raising target for its inaugural special investment fund.
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Germany's BVK sells Paris office after 10 years of ownership
EUROPE – German pension fund Bayerische Versorgungskammer (BVK) has sold a Paris office building that it has owned for 10 years.
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Texas Employees commits $60m to value-added fund
GLOBAL – The Employees Retirement System of Texas has made a $60m (€43m) commitment to the Madison International Real Estate Liquidity Fund IV.
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Iowa PERS to conduct search for REIT manager
GLOBAL – The Iowa Public Employees Retirement System is set to conduct a search for a real estate investment trust (REIT) manager focusing on the US market.
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Institutional investors ideal for plugging real estate funding gap
GLOBAL – Debt may be the newer, safer equity, according to Mercer.
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VastNed Retail builds up Turkish portfolio to €90m
TURKEY – Pan-European retail property fund VastNed Retail has acquired its seventh prime high street shop in the heart of Istanbul, taking its total investment in Turkey to €90m.
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Capital Symonds launches real estate advisory, management arm
UK – Capita Symonds, a subsidiary of outsourcing giant Capita, is merging its former construction project management business with the recently acquired NB Real Estate to create a global "end-to-end" property advisory and asset management offering.
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Monday people roundup
GLOBAL – Europa Capital, Hearthstone Investments, CB Richard Ellis Investors, Savills, Residential Land
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Deutsche Bank's RREEF buys industrial portfolio in US Pacific Northwest
GLOBAL – RREEF, the real estate investment management business of Deutsche Bank's Asset Management division, has acquired the 940,654 square foot Kent Valley Industrial Portfolio in Kent and Tukwila, Washington.
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Ontario pension funds take over UK's high-speed rail network
UK – The UK government has sold the high-speed rail network connecting London to the Channel Tunnel to two Canadian pension funds for £2.1bn (€2.43bn).
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Texas Teachers-backed property fund makes first investment
GLOBAL – An office building investment fund backed by the Teacher Retirement System of Texas has completed its first investment.
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Orange County Employees mulling investment in Buchanan, Cornerstone funds
GLOBAL – The Orange County Employees Retirement System (OCERS) in the process of evaluating three new funds – managed by Angelo, Gordon & Co, Buchanan Street and Cornerstone Real Estate Advisors – as part of its value-added investment strategy.
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OPERS considering €143m investment in Credit Suisse secondary market fund
GLOBAL – The Ohio Public Employees Retirement System (OPERS) is conducting due diligence on a $200m (€143m) commitment to Credit Suisse's Strategic Partners V Real Estate fund.
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Pradera begins raising capital for UK retail park 'club fund'
UK – Pradera UK has secured £75m (€85.6m) from a European pension fund to invest in UK retail parks and is hoping to raise a further £175m from several other investors currently undertaking due diligence.
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ING REIM forecasts broad European rental recovery in 2011
EUROPE – Prime real estate rents in Europe are to see a broad-based recovery from 2011, despite doubts over the economic outlook, according to ING Real Estate Investment Management.
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UK commercial rally running out of steam, says IPD
UK – Investment Property Databank (IPD) has warned that the rally in the UK commercial real estate market is all but over, with the third quarter seeing the shallowest period of capital growth in 2010.
