News – Page 1142
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Oil powers Canada returns
CANADA - Commercial property in oil-rich provinces contributed to Canadian returns of 16.1%, compared with 10.5% for equities, and 4.7% for bonds, according to IPD figures published last week.
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Spanish spread boosts logistics
SPAIN - Spanish logistics markets are expanding as urban sectoral growth continues at above the national average, according to a Savills report on the country’s warehousing market.
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CalPERS approves €850m in real estate
UNITED STATES - California Public Employees Retirement System has allocation $859.8m (€587.9m) of new real estate investments in commingled funds containing a mixture of local and international real estate, and debt.
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AVP Advisors raises $400m in ‘alternative real estate’ play
UNITED STATES - AVP Advisors attracted $400m ($273.5m euros) of institutional capital, including pension fund assets, to a new type of commingled fund combining indirect investment with direct holdings.
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NYSTRS creates new industrial JV
UNITED STATES - New York State Teachers Retirement System (NYSTRS) has created a new joint venture to invest in western US industrial properties.
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SanFran Employees selects global REIT managers
UNITED STATES - San Francisco Employees’ Retirement System has selected European Investors and ING Clarion Real Estate Securities as its global Reit managers.
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Russell Investments adds real estate staff
UNITED STATES - Russell Investments has expanded its real estate staff with the hiring of Dawne Clark as a portfolio manager.
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Join us in Berlin for IPE Real Estate Awards 2008
EUROPE - The 4th IPE Real Estate Investor Forum & Awards will take place in Berlin on Thursday 22 & Friday 23 May 2008, and pension funds are now being invited to join us for this important gathering.
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UK pension funds look east for storage
UK - UK pension funds see continued traction in Central and Eastern European (CEE) logistics despite concerns over pricing in other segments of those markets.
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GIC acquires Finnish retail
FINLAND - GIC, the €145bn Singapore sovereign wealth fund, has acquired 40% of one of Finland’s largest shopping centres for €131.6m.
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Hotel investors build at home, buy abroad
US/GLOBAL -US hospitality investors are looking to Asia for returns but will face increasing competition from local investors, according to a report by Ernst & Young.
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Strapped UK investors are still shopping
UK/EUROPE - Investors are still confident in the UK shopping centre market despite a sharp drop in transaction values in the second half of 2007, according to a DTZ report.
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KBC Pensioenfonds shifts real estate for LDI
BELGIUM – KBC Pensioenfonds has significantly diversified its real estate allocation within the last eight months, in a bid to match the scheme's liability-driven investment (LDI) strategy.
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Credit crunch cost $3-4trn – JP Morgan
GLOBAL – JP Morgan officials say investment market turbulence sparked by the US subprime housing crisis may already have cost in excess of $3trn (€2.04trn) in lost credit and warn there could be more to come under tightened credit pricing.
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ING Clarion targets $5bn in 2008
UNITED STATES - ING Clarion is expecting to invest $5bn (€3.44bn) in real estate in the United States and Mexico in 2008 - equal to its accomplishments in 2007 despite the recent market downturn.
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Mass PRIM expands REIT program
UNITED STATES - Massachusetts Pension Reserves Investment Management Board has decided to expand its REIT investment program by increasing its allocation by 50%.
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Nevada PERS strengthens ‘all-cash’ core status
UNITED STATES - Nevada Public Employees Retirement System has decided to grow its real estate portfolio through the acquisition of core assets adopting all-cash purchases.
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NYSTRS buys $250m in fresh real estate
UNITED STATES - New York State Teachers Retirement System has added a mix of international, opportunistic and structured finance funds to its real estate portfolio totaling up to $250m (€171.1m).
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Savanna creates first institutional fund
UNITED STATES - Savanna Investment Management has joined the institutional fund management business with the closing of its Savanna Real Estate Fund I.
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Pension property fund reaches €1bn
EUROPE - TKP Pensioen Real Estate Fonds (TREF), the pooled property fund set up in 1998 for the Dutch KPN and TNT pension funds, last week passed the €1bn mark to become the largest European property fund-of-funds.
