Real Estate News – Page 723
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German pension fund to invest €400m in Europe through iii-Investments
GERMANY – iii-Investments has been chosen to manage a new €400m closed-end pan-European real estate fund for a German pension fund.
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AREF creates investor committee to be chaired by Nick Cooper
UK – Nick Cooper, principal of The Townsend Group, is to chair a new investor committee set up by the Association of Real Estate Funds (AREF).
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UK roundup: Greater Manchester Pension Fund, GVA Grimley, British Property Federation, Oaktree
UK – The UK government has rejected proposals to help attract institutional investment in residential property despite growing interest in the sector.
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INREV: Investors re-shaping fund management industry
EUROPE – The non-listed real estate fund industry in Europe is collectively paying the price for the use of excessive leverage by a minority of fund managers, according to a report by the European Association for Investors in Non-listed Real Estate Vehicles (INREV).
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Invesco fund shows German appetite for UK property remains strong
EUROPE – Invesco Real Estate has raised €75m from four German institutional investors, enabling it to make a first closing for its latest UK real estate fund.
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Allianz plans to double real estate portfolio to €30bn
GERMANY – Allianz Real Estate is aiming to sell €1bn in small and secondary assets in Germany within 18 months as part of its ongoing project to double its portfolio to €30bn.
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Ohio Police and Fire Pension Fund to issue redemption queues
GLOBAL – The Ohio Police and Fire Pension Fund has begun the process of filing redemption queue requests for two of its commingled funds.
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Virginia invests $425m into real estate portfolio
GLOBAL – The Virginia Retirement System has added $425m (€330m) worth of real estate investments to its portfolio through two deals.
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German Spezialfond looks to invest in Belgium, France
GERMANY – HypoVereinsbank's real estate investment subsidy iii-Investment has launched a new Spezialfond, aiming to raise €400m worth of capital.
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Unlisted fund market surging in Asia, says ANREV
GLOBAL – ANREV, the association for the Asian real estate funds industry, has estimated the aggregated gross asset value (GAV) of Asian non-listed funds has reached $130bn (€101bn).
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Multi-manager ING RE Select to deploy €500m in US, Asia
GLOBAL – European institutional investors have committed close to €500m this year to US and Asian real estate through ING Real Estate's multi-manager investment business.
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Dutch real estate survey highlights investor 'sophistication'
NETHERLANDS – The latest Investor Universe Netherlands survey shows the Dutch institutional real estate market is large, sophisticated and with considerable overseas exposure.
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Hermes Fund Managers appoints real estate head after two-year search
UK – Hermes Fund Managers has appointed Chris Taylor as chief executive of Hermes Real Estate Investment Management.
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MGPA's opportunity fund targets €200m of German retail
GERMANY – MGPA's European opportunistic real estate fund has acquired 140 ALDI SÜD stores in Germany as it seeks to deploy close to €200m of capital in the country's retail sector over the next six months.
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INREV's Carpenter to build up Asia-Pacific cooperation
GLOBAL – The European Association for Investors in Non-listed Real Estate Vehicles (INREV) has sent its former acting chief executive Andrea Carpenter to work with its counterpart in the Asia Pacific region, ANREV, on a temporary basis.
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Portfolio deals on the rise as ING sells Canadian industrial fund
GLOBAL – Alberta Investment Management Corporation (AIMCo), which manages more than CA$70bn (€51.6bn) for Alberta pension schemes, is to acquire a 50% stake in the CA$2bn ING Summit Fund.
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Oklahoma Teachers selects three core managers
GLOBAL – The Teacher Retirement System of Oklahoma has hired AEW Capital Management, Heitman and L&B Realty Advisors as its open-ended, core commingled fund managers.
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Orange County ends separate account relationship with American Realty
GLOBAL – The Orange County Employees Retirement System has decided to end its separate account relationship with American Realty Advisors.
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Malaysian pension fund allocates €1.2bn to UK property
GLOBAL – Malaysia's first-pillar pension scheme has allocated £1bn (€1.2bn) to UK real estate in expectation of a long-term annual yield of 6-7%.
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Investors shunning PE funds, keeping cash for JVs
GLOBAL – Institutional investors are holding back from private equity real estate funds, preferring to hold on to their capital or channel it into direct investment and joint ventures, according to Preqin, the private equity data firm.
