All articles by Poppy Sketchley – Page 7
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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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Economic freeze hits Alaska’s investments
US – The Alaska Permanent Fund Corporation’s (APFC’s) real estate portfolio performed better than other assets but has still contributed to the fund’s $4.2bn (€3.2bn) drop in value in the second quarter of fiscal year 2009.
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Hermes' Evans moves into new role
GLOBAL – Hermes, the pension fund manager owned by the BT Pension Scheme, has reshuffled its property team as part of a new strategy that will focus on investing in debt and listed company shares.
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AIG puts real estate house on the market
US - AIG Global Real Estate has today announced the $12.4bn (€9.4bn) fund management business has been put up for sale, as part of the American International Group’s (AIG’s) divestment programme set out at the end of last year.
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Inflows see DEGI alter redemptions ban
GLOBAL – Deutsche Gesellschaft für Immobilienfonds mbH (DEGI), the German-based property investors, has announced it will end the suspension of redemptions from its DEGI International Fund at the end of this month following new capital inflows into the fund.
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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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UBS unwinds real estate secs team
SWITZERLAND – UBS, the Zurich-based bank, is to close its real estate and securitisation business and cut more jobs, following plans to downsize its fixed-income unit.
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UK pooled funds lose almost a third
UK – Total annual returns for all pooled property funds hit -32% over 2008, according to the IPD UK Pooled Property Fund Indices’ fourth quarter results for 2008.
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Teesside hires LVAM to manage real estate
UK – The £2bn (€2.1bn) Teesside Pension Fund, administered by Middlesbrough Council, has appointed LV Asset Management (LVAM) to manage the pension fund’s direct UK commercial property portfolio.
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Infrastructure investors to buy Puget Energy
US – Puget Holdings LLC, a group of long-term infrastructure investors which includes the Canada Pension Plan Investment Board (CPPIB), expects to buyout Puget Energy and its wholly-owned subsidiary Puget Sound Energy (PSE) by early February.
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Morgan Stanley reopens revised infrastructure pool
UNITED STATES – Morgan Stanley Investment Management (MSIM) has re-opened its Morgan Stanley Global Infrastructure Fund 1 to new investors in the United States, in anticipation of growing investment opportunities across the globe.
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Land Securities warns of tenancy pressures
UK – Land Securities is retaining a “cautious outlook” of the property markets after registering an increase in empty properties within its portfolio, and fears property will continue on a downward spiral over the coming months.
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Merseyside rolls real estate investment contracts
UK - Merseyside Pension Fund (MPF) has extended two major contracts for real estate investment services instead of exposing the pension fund to the pressures of the volatile property markets.
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Schroders to apply blind fund to Avon's strategy
UK – The £2bn (€2.12bn) Avon Pension Fund, administered by Bath and North East Somerset Council, has appointed Schroders to manage a £90m UK property multi-manager mandate.
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Texas Teachers gets new head
US – The Teacher Retirement System of Texas (TRS) has appointed Linus Wright as the system’s new chairman, following Jim Lee’s decision to resign from the post to pursue a new business venture.
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Ireland priced for opportunity - DTZ
IRELAND – Ireland’s real estate market is expected to be challenging but offers investors attractive opportunities in 2009, according to DTZ's 2008 review of the Irish commercial market and outlook for 2009.
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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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AREF appoints new chair
UK – The Association of Real Estate Funds (AREF) has appointed Bill Hughes, managing director of Legal & General Property, as its new chairman.
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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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Purdon arrival to drive AREIT growth
MIDDLE EAST – AREIT Management Limited, manager of the Arabian Real Estate Investment Trust (AREIT), has appointed Chris Purdon as chief investment officer (CIO) as part of the firm’s plans to tap iopportunities in the Middle East region.
