All articles by Poppy Sketchley – Page 2
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ProLogis continues deleveraging drive
US – ProLogis, the North American industrial property developer, has gained further ground in its de-leveraging process after receiving a second round of proceeds from its Asian transactions.
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Real estate has to go 'back to basics' – E&Y
US – Real estate companies face fiercer competition now than ever before and would benefit from adopting a “back to basics” approach to emerge stronger from the financial crisis, according to Ernst & Young (E&Y).
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Invesco appoints new research heads
US - Invesco Real Estate is expanding its global reach with the appointment of Mark Roberts as global director of research and Mike Sobolik as regional director or research in North America.
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Merseyside reviews property adviser
UK - Merseyside Pension Fund has announced it is looking for a strategic property investment adviser for its £262m (€278m) direct UK property portfolio.
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Currency volatility could encourage local investing - CBRE
UK – UK institutional property investors are considering making more domestic investments, according to CB Richard Ellis, as continental European holdings are becoming increasingly overweight thanks to wild currency fluctuations.
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CalPERS sees demand for member mortgages triple
US – California Public Employees’ Retirement System’s (CalPERS’) Member Home Loan Programme has tripled in size over the last year thanks to its conservative mortgage practices, according to CalPERS’ Investment Committee.
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TIAA-CREF sees gains in sustainability
UNITED STATES – TIAA-CREF Global Real Estate’s energy benchmarking initiative has helped increase the real estate portfolio’s value by improving energy intensity by 3.6%.
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Norway sees property slip into the red
NORWAY –Norwegian commercial property returns fell into negative territory in 2008 after delivering 15% plus returns for three consecutive years, according to the IPD Norway Annual Property Index.
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Franklin Templeton raises $380m for Asia
ASIA – Franklin Templeton Real Estate Advisors has closed its $383m (€280.7m) private equity Asian Real Estate Fund and aims to take advantage of market corrections to buy up bargains.
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LaSalle signs Northern Europe head
EUROPE - LaSalle Investment Management has appointed Insa von Jürgensonn as regional director and head of portfolio management for Northern Europe.
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FTSE merges real estate funds
GLOBAL – FTSE Group has rebranded the FTSE EPRA/NAREIT Global Indices to combine developed and emerging subsets.
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DTZ closes offices as pressure bubbles
GLOBAL – DTZ has warned there is likely to be a ”significantly greater” profit loss for the year to the end of April 2009 than expected, and is subsequently continuing to restructure the business in a bid to cut costs.
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State-owned Hypo touted as potential property lift
GERMANY – Experts claim Hypo Real Estate’s (HRE’s) possible nationalisation could help boost the German property market.
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DEGI to target discounted potential
GERMANY – Deutsche Gesellschaft für Immobilienfonds (DEGI), a part of Aberdeen Property Investors, is planning to take advantage of discounted property prices to expand its property portfolio.
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Ahorro to create and market a 'property bad bank'
SPAIN – Ahorro Corporación, the financial services arm of Spain’s savings banks, has launched a new vehicle to dispose of over €3bn of defaulted properties on behalf of its banks.
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AEW Europe signs new CEO
EUROPE – AEW Europe has appointed Christian Delaire to replace François Pochard as chief executive officer and develop its real estate investment management business.
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France to bounce back after poor 2008 - API
FRANCE - French property investments more than halved in value in 2008, however experts are confident activity will pick up, according to the Aberdeen Property Investors’ French quarterly property snapshot.
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Norway PF to start buying later this year
NORWAY – Norway’s Government Pension Fund Global will begin to buy commercial property in the second half of this year and will focus on investing in the UK as part of its plans to invest £14.5bn (€15.7bn) in real estate in the coming years.
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Fund eyes retail shopping sales
UK – Sovereign Land and Strutt & Parker Real Estate Financial Services (SPREFS) are working together to create a £300m (€327m) fund to invest in UK shopping centres.
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Risk in the US may be worth buying - RREEF
US – North American real estate markets are expected to offer high-risk investors “highly attractive” opportunities in 2009, suggests research from RREEF Alternative Investments.
