Office – Page 178
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News
Pension fund JV acquires €200m office
GERMANY - A three-way German office partnership involving ABP and ATP Ejendomme, the real estate subsidiary of the €49.6bn Danish pension scheme, has invested almost a third of its target capital with the €200m acquisition of two nationwide portfolios.
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MacFarlane raises $1bn for urban investment
UNITED STATES - MacFarlane Partners has raised $1bn (€683.6m) for Urban Real Estate Fund II, making this one of the largest urban commingled funds ever to be created in the United States.
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Corio to divest office and industrial portfolios
NETHERLANDS - The €6bn property investment and management company Corio has decided to go ahead with divesting the major part of its offices and industrial portfolios, and to further focus on its retail activities.
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CalPERS commits $250m to int'l opportunity
UNITED STATES - California Public Employees Retirement System has approved a $250m (€171.1m) commitment into the Rockpoint Real Estate Fund III which is currently only holding investments in Japan.
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Pension funds "could power Reits growth"
UK – Assets held by the UK Reits market could double over the next few years if investors such as pension funds sold their real estate assets to the listed market, according to First State Investments.
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Alternative investments to carry more weight - ING
UK - Alternatives sectors are likely to register more on the agenda as UK pension funds seek to gain more exposure to real estate assets, according to ING Real Estate Investment Management.
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UK property delivers negative return
UK - Real estate delivered a negative return of 1.1% in Q3, according to the IPD UK Quarterly Index – the first in its history – but real estate still outperformed property equities, which had a negative return of –10.3% for the three months to September.
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Quebec pension fund to invest in India office
INDIA - The Caisse de dépôt et placement du Québec, Canada’s largest pension fund, is weeks away from its entry into Indian property as part of a strategy to switch 15% of its portfolio to Indian real estate within 3—5 years.
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BA supports pensions flight with office block
UK – Pension fund of the airline British Airways has bought a recently-completed office development in Birmingham city centre, in a bid to help diversify its asset allocation.
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Macro growth boosts Nordic retail
NORDICS - Pension funds have an irrational attachment to office real estate when they should be looking to outperforming retail, according to fund manager Cordea Savills.
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Oslo property market is ‘the new Helsinki’
NORWAY – Europe is good but Norway is better, according to a property market report published by Close, the independent merchant bank.
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US pension fund capital heads back to core
UNITED STATES - Some pension fund capital in the United States is flowing against the tide and being reallocated to a core investment strategy.
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CPP Investment Board buys Denver office space
UNITED STATES - CPP Investment Board has made its first acquisition in the Denver office market through a joint venture with Callahan Capital Partners.
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SBB sells 9,800m2 to fund pensions
SWITZERLAND - The Swiss federal railways SBB has sold another one of its real estate holdings under its funding promise to the SBB pension fund.
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Indiana PERF searches for core and REIT managers
UNITED STATES - The Indiana Public Employees Retirement Fund is now searching for real estate managers for core and REIT strategies through new RFPs.
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San Diego City targets non-US real estate
UNITED STATES - San Diego City Employees Retirement System has approved its first ever targeted allocation for non-United States real estate investments.
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Pension funds "ready for Russian real estate"
RUSSIA - Pension funds – at least Nordic ones – are ready to invest in Russian real estate, having overcome earlier reluctance concerning the complexity of the market, according to Ole Dall-Hansen, chief executive of Aberdeen Property Investors Eastern Europe.
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Shareholders vote to keep F&C trust open
UK – Investors in the F&C Commercial Property Trust have voted overwhelming for the continuation of the company, despite an earlier drop in its performance.
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Pension funds show distressed debt interest
UNITED STATES – US pension funds are considering placing real estate capital into debt strategies on the back of recent market turbulence.
