Real Estate News – Page 730
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Prime continuing to defy fundamentals - King Sturge
EUROPE – King Sturge’s European first quarter survey is the latest to report prime property retaining its value despite a sluggish macro recovery across the continent.
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Pension funds to take the train
UK – Pension schemes could be asked to fund the UK’s high-speed rail network under proposals currently before the transport ministry.
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Finnish insurer pays more for long lease logistics
FINLAND – Finnish pensions insurer OP-Henkivakuutus Oy has acquired two assets – one light industrial, the other a warehouse – from a UK fund for €20.7m, reflecting a yield of 7.5%.
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Global forecast confirms two-tier trend
GLOBAL – The forecast for Europe is cautious, for the US better, and for some of Asia the best of all, according to Jones Lang LaSalle's (JLL) quarterly Global Market Perspective.
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Chinese property policies carry ‘a big if’
CHINA – The Chinese government’s attempts to contain a property price bubble could impact overseas joint-venture investors, according to a China-based economist.
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ING REIM offers access to its funds through single structure
EUROPE – An unnamed Swiss insurer has invested €100m via several of its subsidiaries in an ING Real Estate Investment Management fund of funds (FoF) vehicle launched last week.
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GIC ‘will not list’ real estate portfolio
GLOBAL – GIC’s European head of real estate today denied reports that Singapore’s largest sovereign wealth fund (SWF) plans to list its real estate portfolio. However, he did not deny that the fund could list a portion of it.
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Illinois Municipal plans core search
UNITED STATES – Illinois Municipal Retirement Fund is to conduct a search next month for a $150m (€122.7m) investment in core open-ended commingled funds.
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Texas Employees makes first move into non-listed
UNITED STATES – Employees Retirement System of Texas has made its first investments in non-listed real estate funds as it seeks to build up its overall property exposure.
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Munich office outlook maintains focus on prime
GERMANY – Munich office rental will pick up slowly in 2010 even if there is a speedy recovery, according to a report published this week by Knight Frank.
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Recovery boosts forecasts for Europe, US
GLOBAL – Economic recovery has upped the prospects for long-lease prime properties in cities such as London, New York, Paris and Hong Kong, according to ING Real Estate Investment Management.
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BVK ‘optimises’ UK portfolio by selling assets
GERMANY/UK – Bayerische Versorgungskammer (BVK), the €43.2bn German pension fund, has sold two UK office blocks for £48m (€56.6m).
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Former IPD boss appointed INREV CEO
EUROPE – The European Association for Investors in Non-listed Real Estate Funds (INREV) has appointed Matthias Thomas, the founder of Investment Property Databank (IPD) Germany, as chief executive officer.
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Gulf states have ‘too much supply, too little cash’ – Moody’s
MIDDLE EAST – Rating agency Moody’s today blamed oversupply and lack of property finance for an 18-month negative outlook for real estate markets in Gulf Cooperation Council (GCC) states.
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LPFA could start wave of investment in UK housing
UK – The £3.5bn (€4bn) London Pension Fund Authority (LPFA) could be the first in a number of UK pension funds investing in the residential real estate sector.
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Texas Teachers to target core US real estate through Lionstone
UNITED STATES – Teacher Retirement System of Texas has formed Lionstone Cash Flow Real Estate Partners One, a fund managed by Houston-based The Lionstone Group.
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Canada Pension Plan steps up global spending spree
GLOBAL – Canada Pension Plan Investment Board (CPPIB) has made its first ever investment in Manhattan through a joint venture with SL Green Realty Corporation, and established an Australian real estate development fund with Goodman Group.
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Crisis model includes real estate for first time
GLOBAL – A crisis forecasting model developed for banking regulators has included property prices as a key risk factor for the first time.
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Nottingham PF sells ‘too big’ retail park
UK – A listed company specialising in edge-of-town and out-of-town retail has acquired assets from Nottingham local authority pension fund and Xerox Pensions for a total of £22.7m (€26.3m).
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Oregon signs up to Vornado value-add club fund
UNITED STATES – Oregon Public Employees Retirement Fund has approved a $100m (€78.7m) commitment to the Vornado Capital Partners investment fund.
