Office – Page 176
-
News
Pirelli punts on Euro-property fund
EUROPE - Pirelli Real Estate is targeting international pension funds with an opportunistic pan-European property fund it plans to launch early next year.
-
News
Texas Teachers approves $862.5m in new structures
UNITED STATES - Teacher Retirement System of Texas approved $862.5m (€557.9m) in real estate commitments in April, including one deal which has the structure of a commingled fund but is in fact a separate account.
-
News
TIAA-CREF moves into commingled space
UNITED STATES - TIAA-CREF has created its first commingled fund to be backed by third-party investment capital.
-
News
ABP-owned firm sells office portfolio
EUROPE - Corio, the Dutch property firm 37%-owned by the €220bn ABP pension fund, has sold its Dutch office portfolio for €650m - 1.5% below book value.
-
News
ATP buys a harbour view
DENMARK - ATP Real Estate, the property arm of Denmark’s DKK350bn (bn) labour market supplementary fund, is investing DKK700m in a “ground-breaking” office block development in Copenhagen’s harbour area.
-
News
Orange County works on commingled fund manager search
UNITED STATES - Orange County Employees Retirement System is nowworking on a search to hire new commingled fund real estate managers.
-
News
Washington State outshines Oregon’s commitment to Lone Star
UNITED STATES - Washington State Investment Board has approved a commitment of up to $600m (€375.1m) into the Lone Star Fund VI commingled fund.
-
News
European property returns hit by currency pressure
EUROPE – Unlisted European real estate funds saw a negative return on their investments of –3.9% in 2007, driven by the very poor performance of the UK property market as well as currency conversion pressures attached to the dollar and euro.
-
News
€91m spring clean at IVG
GERMANY – German real estate asset manager IVG has sold €91m in German property to London-based real estate private equity investor CIT Europe.
-
News
Illinois Teachers signs two core accounts
UNITED STATES - Teachers’ Retirement System of the State of Illinois has hired Cornerstone Real Estate Advisers and Invesco Real Estate as its new core separate account real estate managers.
-
News
BP pension fund signs central London JV
UK – BP’s UK pension fund has launched a joint venture that will give the £13.8bn (€19bn) scheme access to central London assets as part of a broader drive to increase its exposure to property.
-
News
Latecomer Swede enters Finnish market
FINLAND - The German fund management arm of Swedish bank SEB has acquired the first Finnish asset for its ImmoInvest open-ended fund, in a €23m deal for an airport-city office block outside Helsinki.
-
News
Pennsylvania eyes opportunities in $461m placement
UNITED STATES - Pennsylvania Public School Employees Retirement System has approved new real estate commitments totaling $461.5m (€293.5m) in the opportunistic sector.
-
News
CalSTRS buys into opportunistic projects
UNITED STATES - California State Teachers Retirement System has grown its opportunistic real estate portfolio by $154m (€100.2m) through two new commitments, including one to a new development project in Washington DC.
-
News
Principal creates California JV
UNITED STATES - Principal Real Estate Investors has created a new joint venture with The Martin Group to invest in Californian real estate.
-
News
Dubai wealth fund offers €3.1bn for Colonial
GLOBAL – Sovereign wealth fund the Investment Corporation of Dubai (ICD) is seeking approval from two major shareholders in Colonial for its €3.1bn offer for the Spanish property firm.
-
News
New Jersey considers $350m for non-core
UNITED STATES - New Jersey Division of Investment is looking at placing $350m (€232m) into non-core real estate investments through commitments to six commingled funds.
-
News
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.
-
News
Canada scheme bags prime office
CANADA - CPP Investment Board (CPPIB), the investment arm of Canada’s CA$121.3bn (€82bn) public pension fund, has upped its exposure to domestic prime commercial with the CA$64m (€43m) investment in an Edmonton office block.
-
News
Ireland returns 10% despite Q4 slide
IRELAND - Irish property returned just under 10% in 1007, despite dropping 2.3 percentage points to 1% in Q4, according to IPD data published last week.
