Real Estate News – Page 738
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CPPIB shops for San Diego retail
UNITED STATES – The Canada Pension Plan Investment Board (CPPIB) has completed its first ever joint venture with Donahue Schriber on a retail property in San Diego.
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New arrival to pursue European deals for OMERS
GLOBAL – Oxford Properties, the real estate division of Canadian pension fund OMERS, has appointed Simon Marriott to lead its European investment programme as it gears up to make its first acquisitions in the UK since 2007.
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Pension funds consider shift back into property
EUROPE – European and North American pension funds are planning to increase investments in real estate over the coming year and the majority of schemes are reviewing external managers, an asset allocation survey has suggested.
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Asia predicted to drive real estate recovery
ASIA – Emerging Asian economies are likely to spearhead the next phase in the recovery of the global real estate markets, according to Prupim, the real estate division of UK life assurer Prudential.
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Strathclyde pension fund buys BREEAM green office
UK – The Strathclyde Pension Fund has purchased a sustainable office development in Glasgow, which is seen as the first building in the city to achieve a BREEAM (BRE Environment Assessment Method) ‘excellent’ status.
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Hermes swoops on property for BT
UK – Hermes Real Estate has acquired a series of commercial properties, known as the ‘Hawk’ portfolio, on behalf of the BT Pension Fund.
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NPS buys rooms with a view of Sydney Harbour
GLOBAL – South Korea’s National Pension Service (NPS) has bought an office building in Sydney for A$685m (€440m) as it continues to snap up prime assets across the world’s top cities.
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San Mateo County to stay with open-ended fund
UNITED STATES - San Mateo County Employees Retirement Association has rescinded a $70m (€48.5m) capital redemption order for the Invesco Core Real Estate Fund as the value of its overall investment portfolio has improved significantly over the past couple of years and officials no longer feel the need to withdraw ...
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Ohio Police & Fire places blind faith in LaSalle
UNITED STATES - Ohio Police & Fire Pension Fund is hoping to tap real estate opportunities as the market improves and made a $60m (€41.6m) allocation to the LaSalle US Property blind pool investment fund.
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CPPIB joint venture pursues forced retail sale
CANADA/UK - The Canada Pension Plan Investment Board (CPPIB) has entered into a joint venture with UK property company Hammerson to take advantage of the forced sale of a prime UK retail asset.
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Varma agrees deal for Kesko retail stores
FINLAND – Varma Mutual Pension Insurance Company has entered into a sale and leaseback arrangement with The Kesko Group for 13 its stores, including one owned by the retailer’s pension fund.
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USS beefs up its real estate strategy
UK – Universities Superannuation Scheme (USS) has poached Alex Turner from Hermes Real Estate to manage its UK office portfolio, just as other changes are being made to improve its performance.
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HSBC Pension Fund sells UK real estate holding
UK – The HSBC Pension Fund has sold Wilmslow Park in central Manchester to Legal & General (L&G) Property’s Managed Fund.
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UK’s Merchant Navy Pension rebalances real estate
UK – The Merchant Navy Officers Pension Fund (MNOPF) has sought to rebalance its UK real estate portfolio and sold three commercial real estate assets in the UK, for almost a third more than recent valuations.
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BP pension fund and GPE buy a piece of London’s Regent St
UK – F&C REIT Asset Management and AREA Property Partners have sold one of the top assets from the Dawnay Day portfolio they acquired in March to the BP pension fund and Great Portland Estates (GPE).
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Merchant Navy sells Waitrose property (amended)
UK – Wilky Fund Management has sold a Waitrose supermarket store in Cheadle Hulme on behalf of the Merchant Navy Officers Pension Fund, which is considering reducing its real estate exposure.
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IVG moves out of direct German property management
GERMANY – The IVG real estate group is slimming down its operations and transferring its German property management activities to third parties following a bidding process.
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Wisconsin turns to real estate fund of funds
UNITED STATES - Wisconsin State Investment Board has made a $27.5m (€18.8m) investment in the Core Plus Real Estate Fund Q, which is structured by the pension fund as a convertible preferred equity investment.
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Internos pays €2 for GPT Halverton
EUROPE – Internos Real Investors, the fund manager founded by Jos Short and Andrew Thornton, has acquired GPT Halverton (GPTH), giving it an established European investment platform.
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Pension funds to tap struggling US hotels market
UNITED STATES- US pension funds are returning to the real estate investment market to plug into opportunities in the struggling upscale hotel market.
