Real Estate News – Page 719
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ING REIM forecasts broad European rental recovery in 2011
EUROPE – Prime real estate rents in Europe are to see a broad-based recovery from 2011, despite doubts over the economic outlook, according to ING Real Estate Investment Management.
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UK commercial rally running out of steam, says IPD
UK – Investment Property Databank (IPD) has warned that the rally in the UK commercial real estate market is all but over, with the third quarter seeing the shallowest period of capital growth in 2010.
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Norway's Pension Fund Global Fund makes first foray into real estate
EUROPE – Norges Bank has made its first real estate investment for the Norwegian Government Pension Fund Global, acquiring a 25% stake in The Crown Estate's Regent Street portfolio in London.
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Swiss investor tenders $1.8bn mandates for Latin America, Asia Pacific and Canada
IPE – A Swiss institutional investor is looking to award three direct real estate mandates worth more than $1.8bn (€1.3bn), using IPE Quest.
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Irish commercial real estate continues to slide, IPD says
IRELAND – The commercial real estate market in Ireland continued to see declines in capital values in the third quarter, meaning the market has been falling for more than three years, according to Investment Property Databank (IPD).
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CPPIB, LaSalle join forces on German shopping centre
GLOBAL – DEGI Europa, the open-ended real estate fund in the process of liquidating its assets, has sold a shopping centre in Germany for €157.3m to the Canada Pension Plan Investment Board (CPPIB) and LaSalle Investment Management.
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Goodman, Europa Capital to develop UK logistics
UK – Goodman and Europa Capital have entered into a joint venture to acquire land sites in the UK for the development of distribution and logistics properties.
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Penn State Employees to change benchmark for real estate investment
GLOBAL – The Pennsylvania State Employees Retirement System has decided to change its benchmark for private real estate investment.
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IPD shines light on Asian property performance
GLOBAL – Investment Property Databank (IPD) has provided the first-ever approximation of a pan-Asian real estate index, based on pooling data from markets in Japan, Hong Kong, China, Korea, Malaysia, Singapore and Thailand.
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APG joins group aiming to take over ING's €850m industrial portfolio
GLOBAL – Algemene Pensioen Groep (APG) is one of a number major global investors – also believed to include Canada Pension Plan Investment Board (CPPIB) and China Investment Corporation (CIC) – seeking to acquire a A$1.2bn (€846m) industrial portfolio from ING Real Estate Investment Management.
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Maine approves $75m allocation to debt fund
GLOBAL – The Maine Public Employees Retirement System has approved a $75m (€54m) commitment to the Prima Mortgage Investment Trust (PMIT), aiming to take advantage of a lack of debt players in the market.
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Illinois Municipal hires Cornerstone, INVESCO for core strategy
GLOBAL – The Illinois Municipal Retirement Fund has hired Cornerstone Real Estate Advisers and INVESCO Real Estate as core open-ended commingled fund managers.
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NCREIF index shows improved returns for third quarter running
GLOBAL – The National Council of Real Estate Investment Fiduciaries (NCREIF) has reported improved returns for the NCREIF Property index (NPI) for the third straight quarter.
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Lack of European prime stock slows global transactional recovery
GLOBAL – The recovery in global real estate transactions has levelled off, driven by a constrained availability of prime properties in Europe, according to Jones Lang LaSalle (JLL).
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Helical Bar, Thameling join central European development drive
EUROPE – Helical Bar and Thameling Group have joined forces to develop pre-let warehouse and distribution properties in central Europe.
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Investors back Sveafastigheter Nordic opportunity fund
SWEDEN – Sveafastigheter, the Stockholm-based private equity real estate fund manager, has made a second closing on its new Nordic opportunistic fund.
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OMERS, British Land team up to develop London's Cheesegrater
UK – Oxford Properties, the real estate division of Canadian pension fund OMERS, has entered into a 50:50 joint venture with British Land to develop the Leadenhall Building in the City of London, otherwise known as the Cheesegrater.
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Pacific Star Europe closes, Stürmer moves to Capital Dynamics
EUROPE – Pacific Star Europe, the start-up global fund of funds manager co-founded by the former head of real estate at E.ON Energie pension fund Matthias Stürmer, is to be dissolved.
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Canada Pension Plan swoops in on prime DC assets
GLOBAL – The Canada Pension Plan Investment Board (CPPIB) has invested $91m (€65m) in return for a 45% stake in two prime office buildings in Washington DC, its first investment in the US capital.
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Real estate markets failing to recover in Italy, Japan
GLOBAL – The Italian commercial real estate market has continued its gradual decline in capital values in the first half of 2010, according to Investment Property Databank (IPD).
