News – Page 1125
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Jones Lang LaSalle reshuffles directors
UNITED STATES - US-based property investment and consultants group Jones Lang LaSalle is reshuffling its senior board in a bid to reinforce its global presence and strategy for expansion.
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Schroders expands Nordic team
SCANDINAVIA - Schroder Property, the real estate arm of London-based €164.4bn Schroders, has further strengthened its presence in Scandinavia with the appointment of Ubbe Strihagen as director of business development for the Nordic region.
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Propinvest seals largest ever European property deal
SPAIN - London-based real estate investment and management specialist Propinvest has acquired the global headquarters of Spanish banking giant Banco Santander, for €1.9bn – the largest ever European real estate deal.
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AvalonBay falls short of capital raising goal
UNITED STATES - AvalonBay Communities has raised $333m (€234.2m) of equity for its latest commingled fund, AvalonBay Value Added Fund II – but this is short of the $500m goal established early in the process.
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CalSTRS expands real estate debt investments
UNITED STATES - California State Teachers Retirement System is in the process of increasing its efforts investing capital into real estate debt, having just invested $500m (€354.5m) in that arena.
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Kansas PERS moves into senior housing
UNITED STATES - Kansas Public Employees Retirement System has expanded its real estate strategy into senior housing by making a $35m (€24.6m) commitment to AEW Senior Housing Investors LP.
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Orange County considers opportunistic allocations
UNITED STATES - Orange County Employees Retirement System has approved a plan to explore the idea of creating a separate allocation for opportunistic or innovative investments.
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Pramerica sees capital waiting on the sidelines
UNITED STATES - Pramerica Real Estate Investors have found a huge sum of investible capital is currently sitting on the sidelines in the United States, as investors are unsure whether now is a good time to invest given market conditions.
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Lehman spins off real estate after $3.9bn loss
GLOBAL – Investment banking giant Lehman Bros is separating its commercial real estate business as a new listed entity and selling a majority stake in its investment management division after yet more writedowns generated a third-quarter net loss of $3.9bn (€2.76bn).
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Valuers need to employ more tools
GLOBAL - Valuers will in future have to use more data sources in arriving at their market estimates, but was just one of the points raised at this year’s IPD Real World Conference held at the University of Cambridge this week.
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Corio to widen emerging markets presence
NETHERLANDS - Property investor and manager Corio is looking to increase its 6% allocation in emerging markets real estate to 20%, in a bid to maximise the differentials between emerging and mature markets.
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AXA REIM steps up Asian presence
ASIA - AXA Real Estate Investment Managers (AXA REIM), the global property arm of French financial services group AXA, has opened an Asian headquarters in Singapore as the springboard for moves into India and Japan.
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Invista sees 5-yr German potential
GERMANY - The developed countries in Europe continue to offer the best real estate investment opportunities but Germany is perhaps still the best investment even with current pressures, according to London-based Invista Real Estate Investment Management.
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Emerging market real estate indices launched
GLOBAL – The European Public Real Estate Association (EPRA) and National Association of Real Estate Investment Trusts (NAREIT) are extending its joint venture with the FTSE Group to develop a series FTSE EPRA/NAREIT Global Real Estate indices also covering the emerging markets.
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Patrizia signs research heavyweight
GERMANY - Augsburg-based real estate investment specialists, Patrizia, has appointed Marcus Cieleback as head of research.
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Ohio Police and Fire dampens core strategy
UNITED STATES - Ohio Police and Fire Pension Fund has altered its 2008 real estate strategy and will now be investing in core real estate this year, as previously planned.
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EPRA calls for focus on cross-border possibilities
EUROPE - Addressing the barriers to efficient cross-border investment in European real estate is more important in the near-term than lobbying for the creation of pan-European real estate investment trust (REIT) regime, according to the European Public Real Estate Association (EPRA).
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Wisconsin expands real estate consultancy needs
UNITED STATES - Wisconsin State Investment Board has expanded the duties for its real estate consultant, Courtland Partners, as officials at the pension fund say its remit is becoming more complicated.
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Texas Employees to employ real estate consultant
UNITED STATES – The Employees Retirement System of Texas has begun the search to find a real estate consultant for the first time, and has issued a Request for Information to the market.
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Texas Teachers makes $250m gateways commitment
UNITED STATES - Teacher Retirement System of Texas has approved a $250m (€171.2m) commitment with Westbrook Partners’ latest commingled fund.
