Office – Page 169
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News
UK real estate could turn negative after returning 15.2% in 2010 – Standard Life
Commercial real estate delivered double-digit returns in 2010, but managers are preparing for a leaner 2011.
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Savills highlights opportunity in Brussels leasing market
BRUSSELS – Investors should target Belgian real estate investments with three to five-year lease maturities, according to Savills.
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CalSTRS enters $1bn industrial joint venture with Panattoni
GLOBAL – The California State Teachers' Retirement System (CalSTRS) has entered into a joint venture with the Panattoni Development Company to invest $1.15bn (€874m) in industrial and commercial real estate in the US and Canada.
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CBRE Investors' opportunity fund takes over Atlantic Station
GLOBAL – CB Richard Ellis Investors has acquired Atlantic Station in Atlanta, Georgia, from insurer AIG for its fifth US opportunity fund.
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Kansas PERS makes $75m commitment to UBS Trumbull
GLOBAL – The Kansas Public Employees Retirement System has signed a contract to allocate $75m (€58.1m) to the UBS Trumbull Property fund, managed by UBS Realty Investors.
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Vasakronan makes Sweden's largest real estate purchase
SWEDEN – Vasakronan, the real estate company owned by Sweden's national buffer funds, has acquired the Blåmannen 20 city block in Stockholm, known as Klara Zenit, in its entirety for SEK4.35bn (€487m).
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Dutch pension funds offload Rotterdam courts to GBA
NETHERLANDS – A group including Dutch pension funds KPN and TNT has sold the Wilhelminahof offices and courts complex in Rotterdam for €220m to the Dutch Government Buildings Agency (GBA).
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Switzerland's AFIAA takes profits from Canadian investments
GLOBAL – AFIAA, the foundation owned by 20 Swiss pension funds, has sold three assets in Canada as part of an optimisation of its global real estate portfolio.
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Investors should branch into developing economies - LaSalle
GLOBAL – Institutional investors looking to guarantee strong returns in 2011 cannot rely on portfolios consisting purely of cities in developed markets, LaSalle Investment Management has warned.
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Virginia makes $150m commitment to CIM urban fund
GLOBAL - Virginia Retirement System has approved a $150m (€113.8m) commitment to the CIM VI Urban REIT Fund. Pension fund officials stated that this commitment will be funded over the next four and a half years.
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Virginia makes $150m commitment to CIM urban fund
GLOBAL - Virginia Retirement System has approved a $150m (€113.8m) commitment to the CIM VI Urban REIT Fund. Pension fund officials stated that this commitment will be funded over the next four and a half years.
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JP Morgan acquires its own London offices for more than €1bn
UK – Investment bank JP Morgan has taken ownership of 25 Bank Street in Canary Wharf, which will become its new European headquarters in 2012, and another London office housing its treasury and securities services division for close to £850m (€1.01bn).
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LACERA receives 28 responses to debt manager search
GLOBAL - Los Angeles County Employees Retirement Association has received 28 responses to its search for real estate debt managers.
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F&C REIT raises €240m for German retail acquisitions
GERMANY – F&C REIT Asset Management in Germany is looking to invest as much as €240m in German retail properties having raised capital for a new real estate fund and a segregated account with a German pension fund.
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Ohio Police & Fire approves $30m commitment to opportunity fund
GLOBAL – The Ohio Police & Fire Pension Fund has approved a $30m (€23.1m) commitment into the Savanna Real Estate Fund II.
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PKA acquires €79m office, retail project in Copenhagen
DENMARK – Denmark's PKA has bought an office and retail construction project in the country's capital for DKK588m (€79m), with provisional leases already secured for around a quarter of units.
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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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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.
