News – Page 999
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South Yorks invests in UK retail development
UK – The South Yorkshire Pension Fund has agreed to fund a shopping centre redevelopment in Wales for £11.8m.
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Sarasin launches new green listed fund
GLOBAL – Sarasin has launched what it claims to be the world’s first fund to specialise in investing in sustainable real estate companies.
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CalPERS in $1bn retail joint venture
US – California Public Employees' Retirement System (CalPERS) has entered into a joint venture with First Washington Realty, which will purchase close to US$1bn (€700m) in retail real estate assets from Macquarie CountryWide Trust.
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SBZ begins direct portfolio sell-off
NETHERLANDS - SBZ, the €2.2bn Dutch pension fund for care insurer employees, has made its first two disposals of direct property holdings as part of a transition to a wholly indirect real estate exposure.
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Teeside begins UK acquisition programme
UK - The £2bn (€2.1bn) Teesside Pension Fund, administered by Middlesbrough Council, has purchased its first real estate asset through its recently-appointed property manager LV Asset Management (LVAM).
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Schroders calls for fund structure standardisation
GLOBAL - Greater standardisation of the way funds are structured could deliver significant savings for investors, suggests William Hill, head of property at Schroders.
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Etera reduces office exposure
FINLAND – The €4.9bn Etera Mutual Pension Insurance Company has sold business park Swing Life Science Center in Keilaniemi, Finland to fund manager CommerzReal for approximately €120m.
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German investors return home for safety
GERMANY – Interest in domestic residential property funds is rising among German institutional investors, according to German real estate fund manager Patrizia Immobilien.
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NPS partners Carlyle Group in Tokyo office purchase
ASIA - South Korea’s National Pension Service (NPS) has entered into a joint venture with private equity firm The Carlyle Group to purchase an office building in Tokyo.
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Ohio School Employees steps up global REITS
UNITED STATES - School Employees Retirement System of Ohio is increasing its allocation to global REITs from 11% to 15% of its total real estate portfolio.
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Ohio Police and Fire’s real estate keeps falling
UNITED STATES – The value of real estate portfolios for US pension funds is still declining as Ohio Police and Fire pension fund has revealed as its real estate assets dropped in value from $1.01bn (€713.9m euros) at the end of 2008 to $784m by the end of the first ...
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Crisis shrinks CALSTRS real estate commitments
UNITED STATES – The California State Teachers Retirement System made a total commitment to real estate of just $41.1m (€29.3m) in the first quarter of 2009, compared with over $1bn in the same period last year.
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New York Common invests in UK underperformers
UNITED STATES - New York State Common Retirement Fund has made a $30m (€21.3m) commitment to the Mountgrange Real Estate Opportunity Fund I in a bid to further diversify into European real estate.
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London property attracts overseas interest
UK - Investment in London commercial property has risen for the first time since the second half of 2007, according to new figures from Cushman & Wakefield.
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Real estate dominates alternative assets in pensions
GLOBAL – Real estate investments still make up over half of the alternative assets managed by external managers on behalf of pension funds, and despite the economic downturn, suggests a study conducted by Watson Wyatt.
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PGGM to pursue ESG terms for real estate
NETHERLANDS – PGGM Investments, the Dutch pensions asset manager, will in future scrutinise all real estate investments under environmental, social and governance (ESG) terms as part of its strategy to encourage all companies to abide by responsible investment principles.
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Texas Teachers makes industrial acquisition
UNITED STATES - Teacher Retirement System of Texas has made one of the largest industrial acquisitions of the year by investing $410m (€292.8m) into TLF Logistics.
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Hercules receives backing from pensions giant
CANADA/UK - The Canada Pension Plan Investment Board (CPPIB) has injected £100m (€118m) into the Hercules Unit Trust (HUT), a UK retail warehouse fund run by British Land and Schroders, which is in the process of restructuring its £800m debt facility.
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BT pension fund sells miner’s head office
UK – Hermes Real Estate has sold 20-24 Carlton House Terrace, the UK headquarters of Anglo American, for £66.5m (€78.3m) on behalf of the BT Pension Fund.
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Danish doctors sell offices to Aberdeen
DENMARK – The Doctors’ Pension Fund in Denmark, Lægernes Pensionskasse (LP), has sold two fully-let offices in Copenhagen to Aberdeen Property Fund Denmark, but will be paid half of the €17.8m acquisition price in cash and half in fund shares.
