Real Estate News – Page 721
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INREV prepares for lobbying; Solvency II a 'key priority'
EUROPE – INREV will be taking on the function of lobbying Brussels on behalf of the non-listed real estate industry.
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GID takes over CalPERS apartment portfolio from BlackRock
GLOBAL – GID Investment Advisers has taken over the management of a core multi-family residential portfolio from BlackRock Realty Advisors on behalf of the $212bn (€152bn) California Public Employees' Retirement System (CalPERS).
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Institutional capital to desert German open-ended funds, says CBRE
GERMANY – Incoming regulations in Germany will see institutional capital leave open-ended funds and be reinvested in Spezialfonds, according to a report by CB Richard Ellis (CBRE).
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Hermes seeks to increase liquidity for BT Pension Fund
UK – Hermes Real Estate is to sell the BT Pension Scheme's interest in the Bluewater Shopping Centre as part of a wider rebalancing of the portfolio away from "less liquid" indirect and joint venture holdings in the UK.
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Denmark's ATP returns to real estate market
DENMARK – Denmark's largest pension fund ATP has made its first direct real estate acquisition in two years, acquiring a high-profile office block in central Copenhagen.
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CalSTRS invests $370m into real estate during second quarter
GLOBAL – The California State Teachers Retirement System made $370m (€270m) worth of new real estate investments during the second quarter.
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PensionDanmark makes 'significant' expansion in real estate
DENMARK – Labour market fund PensionDanmark is expanding its portfolio of domestic real estate with a new DKK500mn (€67m) investment in Århus.
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Oregon Retirement Fund considers larger commitments, club funds
GLOBAL – The Oregon Public Employees Retirement Fund is exploring the possibility of making larger investments into either commingled funds or separate accounts.
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Germany's IntReal makes board appointments
GERMANY – The Warburg-Henderson subsidiary IntReal KAG has named two new board members to cover the areas of risk management and client services.
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L&G annuities arm gets first real estate exposure
UK – Legal & General Pensions (LGPL) is to invest in UK real estate for the first time on behalf of its £23bn (€26.6bn) annuity business.
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BNP Paribas Real Estate takes over AEW Europe subsidiaries
EUROPE – BNP Paribas Real Estate Property Management has acquired the central European real estate management business of AEW Europe.
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Property derivatives fund backed by major fund managers
UK – The first pure property derivatives fund, offering cheap exposure to the UK real estate market index, has been launched with backing from a number of institutional real estate fund managers.
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Institutional investors back AEGON healthcare strategy
UK – AEGON Asset Management has secured two more institutional investors, through DTZ Investment Management, for its new healthcare real estate fund.
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APREA study urges pension funds to boost real estate allocations
GLOBAL – Asian pension funds are being urged by a new report to follow the lead of their US and European counterparts by allocating more to real estate.
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Carlyle combines buyout, real estate capital to fund B&B Hotel purchase
EUROPE – The Carlyle Group has acquired B&B Hotel Group, operator of 223 hotels across France, Germany and France, with equity from one of its private equity buyout funds and one if its real estate vehicles.
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French commercial real estate returns to positive territory, says IPD
FRANCE – Commercial real estate in France has emerged from a two-year slump to record a six-month 1.6% capital appreciation, according to Investment Property Databank (IPD).
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AMF makes largest Swedish transaction in over two years
SWEDEN – Swedish pension provider AMF and German open fund manager DEKA Immobilien Investment have executed the largest single real estate deal in the city of Stockholm for more than two years.
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Quarter of global fund managers' real estate assets in Asia
GLOBAL – Global fund managers own $178.6bn (€131bn) of real estate in Asia Pacific, close to a quarter of their total assets under management, according to ANREV.
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Texas Teachers approves $500m investment in retail REIT
GLOBAL – The Teacher Retirement System of Texas has approved a $500m (€371m) investment into General Growth Properties (GGP).
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Wisconsin commits $75m to Mesa West debt fund
GLOBAL – The Wisconsin State Investment Board has made a $75m (€56m) commitment to the Mesa West Real Estate Income II commingled fund.
