All Real Assets articles in November 2005 (Online)
View all stories from this issue.
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News
Invesco Real Estate hires JLL’s Kókai
GLOBAL – Invesco Real Estate has hired Jones Lang LaSalle Hotels vice president Ascan Kókai as its new assets and acquisitions manager for hotels and leisure. Invesco said Kókai, a German national, has 13 years experience in the ho...
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MN delivers real estate project for pension fund
NETHERLANDS – MN Services says it is set to deliver a major real estate development project in the Netherlands for the Pension Fund for Metalworking and Mechanical Engineering. The four-and-a-half-year project in the town of Berkel entailed ...
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LA Fire & Police commits to urban real estate
US - The Los Angeles Fire & Police Pension System has decided to invest $30m in the CIM urban REIT. It has also decided to extend the contract of Lowe Enterprises as a separate account real estate manager. Both decisions were taken at the pension...
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Italian bank pension fund to sell real estate
ITALY – The Banca Commerciale Italiana pension fund is seeking expressions of interest for its almost 300,000-square metre real estate portfolio. The Fondo Pensioni per il Personale della Banca Commerciale Italiana is the scheme for the bank...
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AXA REIM investment chief Depoux joins SFL
GLOBAL – Philippe Depoux, global head of investments at AXA Real Estate Investment Managers, has joined rival firm Société Foncière Lyonnaise as deputy managing director and chief operating officer. Depoux, 44, will report dir...
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Bouwfonds AM sets up car park fund
NETHERLANDS – ABN Amro’s Bouwfonds Asset Management has set up a €300m fund focusing on European car parks. The European Real Estate Parking Fund has been successfully place with Dutch and German international institutional inves...
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Pramerica acquires old folks’ housing
US - Pramerica Real Estate Investors has set up a joint venture to acquire the Epoch Senior Living portfolio for $138m (€117.4m). Pramerica will hold an 80% stake in the portfolio with the balance being held by American Retirement Corporati...
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Global direct market ‘to reach $550bn’
GLOBAL – Global direct real estate investment will jump to an all-time high of $550bn (€468.9bn) this year if Jones Lang LaSalle’s latest study is proved correct. The property specialist recorded an 18% jump in global direct real es...
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Japanese investors eye real estate opportunities
JAPAN - Almost all institutional real estate investors in Japan are planning to look for new investment opportunities in the next year, according to a survey. The twice-yearly Japanese Real Estate Investor Survey quizzed 89 firms in October and fo...
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IPD looking for research chief as Callender quits
EUROPE - Real estate data firm IPD's research chief Mark Callender has quit to join Schroders as head of international property research. Callender has been IPD's research director since 2001 and has 19 years' experience in the property industry. ...
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Rodamco boosted by Jones Lang revaluation
EUROPE - Dutch-based real estate group Rodamco Europe has seen a more than 240% boost in shareholder profit after Jones Lang LaSalle revalued around 70% of its portfolio. The Rotterdam-based firm said JLL's revaluation led to a €719.5m incre...
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Blackstone buys La Quinta hotel REIT
US - New York-based equity firm Blackstone Group has agreed to buy Texas-based hotel REIT La Quinta for $3.4bn (€2.9bn). It's the latest acquisition in the firm's 18-month shopping spree in the hotel sector. The deal means Blackstone will pa...
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German association calls for EU passport
GERMANY - Fund industry association BVI has urged the European Commission to enable German real estate funds qualify for a so-called “EU passport,” which would permit their sale across the bloc. “Our view is that German real esta...
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German coalition agrees on REITs
GERMANY - The Conservatives and the Social Democrats, about to form the next government, have agreed that German-style Real Estate Investment Trusts (REITs) should be introduced - but only under certain conditions. In their coalition agreement, th...
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Substantial yield differences seen across Europe
EUROPE - Real estate measurement firm IPD, Investment Property Databank, has found “substantial” differences in the yields of investment property in Europe. “Despite a benign environment of low inflation and low interest rates ac...
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Corio to invest $500m in Turkish retail market
NETHERLANDS - Dutch real estate firm Corio is planning to invest some $500m (€427m) into Turkish retail real estate market in the next three years. “Corio aims at investing approximately $500m in Turkey within the next three years, whi...
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LaSalle's Lewis joins Cordea Savills
UK - LaSalle Investment Management's Chris Lewis is to join Cordea Savills in January next year as director of UK fund management. Cordea said Lewis brings experience of managing segregated mandates for corporate pension schemes and a track record...
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Illinois Teachers up core office component
US - The Teachers' Retirement System for the State of Illinois has added to its exposure of core office buildings with a $100m (€85.4m) commitment to the Hines-Sumisei US Core Office Fund. The teachers' pension made the investment to address...
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AXA REIM opens Budapest office
HUNGARY - AXA Real Estate Investment Managers has opened an office in Budapest, headed by former DTZ executive John Verpeleti. AXA said the initial acquisition focus would be on the Czech Republic, Hungary, Poland and Slovakia. "The team will...
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Arizona scheme commits to Rothschild
US - The Arizona State Retirement System (ASRS) has become the latest investor in Rothschild Realty's Five Arrows Realty Securities IV fund. The €22bn pension scheme has made a $75m (€64.1m) commitment. Gary Dokes, ASRS' chief investm...
