Office – Page 172
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News
French property market 'must adapt to survive'
FRANCE – Property experts have predicted the French real estate industry is set to deteriorate even further in 2009 as a result of the financial crisis and will have to adapt itself to investors’ demands in order to recover.
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Six years of UK growth wiped out - IPD
UK - The entire capital growth made over the last six years in the UK commercial real estate market has been eroded in only 18 months, according to the IPD UK Quarterly Property Index Q4 2008 published this week.
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New Jersey changes strategy with commingled capital
UNITED STATES - New Jersey Division of Investment has decided to shift $250m (€190.5m) worth of commitments planned for commingled funds into different investment opportunities on the back of market performance worries.
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Arkansas searches property management
US – The $8.4bn Arkansas Teacher Retirement System (ATRS) it is looking to appoint a real estate manager to manage a $140m (€107m) property portfolio.
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Central London property presents a challenge - JLL
UK – Investment levels across Central London fell by 66% last year and could lead to “one of the most challenging years on record” for real estate take-up in the capital, according to Jones Lang LaSalle’s latest Central London report.
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MagazineRoom for improvement
As Asia’s markets develop, well-timed value-added opportunities will enable investors to harness the continent’s vast potential when the markets begin to stabilise, says Charlie Duke
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MagazineStill more selective
As the downturn demonstrates the degree to which some Asian markets are coupled to the rest of the world investors are retrenching in markets that offer stability, liquidity, transparency and sound fundamentals, as Kristen Paech reports
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Aberdeen predicts UK property bounceback
UK – Institutional investors, including UK pension funds, are likely to tap into the UK property market for attractive opportunities by the end of this year, according to Aberdeen Property Investors’ UK Property Snapshot.
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Japan real estate confirmed as falling year-on-year
JAPAN – Japanese real estate has delivered its first negative year-on-year capital returns, according to figures released by the Investment Property Databank (IPD) which run to the end of the third quarter 2008.
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Higher yields allude to lower income growth - CBRE
EUROPE – Yields across all commercial sectors in Europe, Middle East and Africa markets have increased in the fourth quarter of 2008 and may reflect a poor outlook for rents, according to latest data from the CB Richard Ellis EU-15 yield indices.
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More than €50bn waiting to be deployed in Europe
EUROPE – More than €50bn of equity is targeting European commercial real estate this year, according to the latest European capital markets research carried out by Jones Lang LaSalle (JLL).
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Land Securities sells Trillium
UK – Land Securities Group, the UK’s largest real estate investment trust (REIT), announced today it has agreed the sale of Trillium to Telereal, a property investment company, for £750m (€832m).
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EDHEC launches French index
FRANCE – French business school EDHEC has launched a monthly index for commercial property in France with the help of the Institut de l'Epargne Immobilière et Foncière (IEIF), an independent French real estate research institute.
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Hypo Real Estate faces claims for damages
GLOBAL – Pension funds are making the first claims for damages against Hypo Real Estate (HRE) for failing to reveal its financial difficulties sooner.
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UniCredit sells Italian bank assets to new fund
ITALY – Italian bank UniCredit has sold 72 commercial properties worth approximately €800m to a real estate investment fund run by Italian fund manager Fondi Immobiliari Italian (Fimit).
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ProLogis steps up to support European Properties
US – ProLogis, the international logistics developer, has stepped in to help ProLogis European Properties (PEPR) by buying a 20% interest in the ProLogis European Properties Fund II (PEPF II).
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UK commercial sees investment halve
UK – Jones Lang LaSalle has predicted direct investment in UK commercial real estate will have dropped by approximately 55% year-on-year by the end of 2008, to stand at around £21bn (€24bn).
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Surveyors predict further 25% UK drop
UK – Commercial property capital values are predicted to fall a further 25% over the next two years, according to the latest forecast issued by the Royal Institution of Chartered Surveyors (RICS).
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CalSTRS awards capital to existing managers
UNITED STATES - California State Teachers Retirement System has bucked the trend and issued new capital to real estate managers, to could be used for potential investment in 2009.
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Diebold’s pension moves into real estate
UNITED STATES - Diebold Corporation’s $450m (€356.5m) defined benefit pension fund has made its first move into real estate investment and made a $10m commitment to JP Morgan’s open-ended Strategic property fund.
