Real Estate News – Page 715
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CalPERS transfers National Office Partners portfolio to CommonWealth
GLOBAL – The California Public Employees Retirement System (CalPERS) has transferred its National Office Partners real estate portfolio from Hines to CommonWealth Partners.
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APG makes joint bid for ING's €1.9bn Australian property fund
NETHERLANDS – The €266bn Dutch asset manager APG is part of a syndicate bidding for a €1.9bn ING property fund.
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Dutch pension funds offload Rotterdam courts to GBA
NETHERLANDS – A group including Dutch pension funds KPN and TNT has sold the Wilhelminahof offices and courts complex in Rotterdam for €220m to the Dutch Government Buildings Agency (GBA).
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Invesco-Ciloger partnership acquires German properties for French institutions
EUROPE – Invesco Real Estate and Ciloger have acquired 10 newly built retail assets in Germany for €218m on behalf of seven French institutional investors.
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Insurers commit to European debt through AXA Real Estate
EUROPE – AXA Real Estate Investment Managers has secured €1.5bn in insurance company capital to provide European real estate financing.
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Switzerland's AFIAA takes profits from Canadian investments
GLOBAL – AFIAA, the foundation owned by 20 Swiss pension funds, has sold three assets in Canada as part of an optimisation of its global real estate portfolio.
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Danish roundup: ATP, PensionDanmark, Magillum Properties, EY-Tower
DENMARK – The property arm of Danish pensions giant ATP has teamed up with labour market fund PensionDanmark to buy three department store buildings in the country's biggest real estate deal of 2010.
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Investors should branch into developing economies - LaSalle
GLOBAL – Institutional investors looking to guarantee strong returns in 2011 cannot rely on portfolios consisting purely of cities in developed markets, LaSalle Investment Management has warned.
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UK PPF appoints LaSalle, CB Richard Ellis to global real estate mandates
UK – The UK Pension Protection Fund (PPF) has appointed La Salle Investment Management and CBRE Investors to develop its global real estate strategy.
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Swiss investor seeks exposure to Chinese market
IPE QUEST – A Swiss institutional investor is seeking to award a $500m (€367m) real estate mandate to managers specialising in the Chinese market, using IPE Quest.
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Virginia makes $150m commitment to CIM urban fund
GLOBAL - Virginia Retirement System has approved a $150m (€113.8m) commitment to the CIM VI Urban REIT Fund. Pension fund officials stated that this commitment will be funded over the next four and a half years.
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Virginia makes $150m commitment to CIM urban fund
GLOBAL - Virginia Retirement System has approved a $150m (€113.8m) commitment to the CIM VI Urban REIT Fund. Pension fund officials stated that this commitment will be funded over the next four and a half years.
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ING Clarion buys DC area apartment building for €90m
GLOBAL - ING Clarion Partners has paid $118.5m (€90.1m) to acquire the 300-unit Millennium at Metropolitan Park in Arlington, Virginia.
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JP Morgan acquires its own London offices for more than €1bn
UK – Investment bank JP Morgan has taken ownership of 25 Bank Street in Canary Wharf, which will become its new European headquarters in 2012, and another London office housing its treasury and securities services division for close to £850m (€1.01bn).
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Amplion buys Varma portfolio for Finnish institutions
FINLAND – Amplion Asset Management Oy has acquired a €100m real estate portfolio from Varma Mutual Pension Insurance Company on behalf of a number of Finnish institutional investors.
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LACERA receives 28 responses to debt manager search
GLOBAL - Los Angeles County Employees Retirement Association has received 28 responses to its search for real estate debt managers.
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CalPERS combines property, infrastructure and forestry in allocation overhaul
UNITED STATES – The California Public Employees’ Retirement System (CalPERS) has placed real estate, infrastructure and forestry in a ‘real’ assets bucket as part of an overhaul of its asset allocation strategy.
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INREV: Positive capital growth returns to continental Europe
EUROPE – The European Association for Investors in Non-listed Real Estate Vehicles (INREV) has measured positive capital growth across the continental European property markets for the first time since 2007.
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Two JPMorgan Asset Management funds in €657m London office deal
UK – JPMorgan Asset Management (JPMAM) has acquired Bishops Square in London for £557m (€657m) for two of its institutional funds, highlighting continued demand for prime real estate in the capital.
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BT Pension Scheme lands Heathrow industrial estates
UK – The BT Pension Scheme has acquired an industrial real estate portfolio near Heathrow airport for £79.25m (€93.8m) from European developer SEGRO.
