Real Estate News – Page 746
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Rockpoint checks in for US hotel purchase
UNITED STATES - The Rockpoint Group has completed its first acquisition in the United States in 18 months, with the $10m (€6.93m) deal to purchase the 434-room Newton Marriott Hotel in Massachusetts.
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Distressed assets are at risk - RCA
US – The sum of US real estate ‘in distress’ has doubled since the start of the year and the equity of $1.3trn (€900bn) investing in US property is at risk, according to data providers Real Capital Analytics.
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European offices show signs of improvement
EUROPE – Cushman & Wakefield says European commercial real estate markets are beginning to show signs of stabilising, just as International Property Databank (IPD) has announced the return of yield compression in UK West End office markets.
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New Mexico moves into private real estate
UNITED STATES - New Mexico Educational Retirement Board is currently transiting out of public REITs and reinvesting the capital via a private real estate strategy.
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Sacramento County to hold onto AEW fund
UNITED STATES - Sacramento County Employees Retirement System has extended the investment period for its AEW Value Investors II holding.
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US pension giants lose big on real estate
EUROPE – Many of Europe’s cross-border investors returned to the real estate market in the second quarter, replacing domestic investors as the most dominant active group.
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ING calls the bottom of UK real estate
UK – The commercial real estate market in the UK has bottomed out in relation to property yields, according to Ian Whittock, chief investment officer at ING Real Estate Investment Management.
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BMW pension redistributes its real estate
UK – The UK pension fund of car manufacturer BMW has sold a distribution centre in Europort, Wakefield to UK real estate company Patrick Properties.
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Axa REIM edges towards China real estate fund
ASIA/EUROPE – AXA Real Estate Investment Managers (AXA REIM) has moved one step closer to creating a dedicated Chinese real estate fund.
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Aviva to invest £1bn in UK rental housing
UK – Aviva Investors is intending to launch a real estate fund aimed at pension funds and institutional investors that will invest in UK residential assets.
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Cross-border activity rises in Europe
EUROPE – Many of Europe’s cross-border investors returned to the real estate market in the second quarter, replacing domestic investors as the most dominant active group.
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C&W sees German investor return to real estate
GERMANY – Real estate consultant Cushman & Wakefield (C&W) is convinced the slowdown in real estate investment among German institutional investors is over.
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AIFM could bring less fund choice, claims law firm
EUROPE – A Paris-headquartered law firm has warned current proposals for the Alternative Investment Fund Managers (AIFM) Directive could lead to a lack of choice of funds in the future unless European officials can work with US and international counterparts to improve regulatory terms on alternative investments.
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Mercer expands real estate operation
UNITED STATES- Mercer Investment Consulting is growing its real estate staff with the hiring of David Nix as a senior researcher.
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Florida Board of Administration reassigns MS managed assets
UNITED STATES - Florida State Board of Administration has signed contracts to transfer 85% of the $2.7bn (€1.93bn) separate account assets previously managed by Morgan Stanley Real Estate to Heitman, L&B Realty Advisors and Invesco Real Estate.
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South Yorks invests in UK retail development
UK – The South Yorkshire Pension Fund has agreed to fund a shopping centre redevelopment in Wales for £11.8m.
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Sarasin launches new green listed fund
GLOBAL – Sarasin has launched what it claims to be the world’s first fund to specialise in investing in sustainable real estate companies.
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CalPERS in $1bn retail joint venture
US – California Public Employees' Retirement System (CalPERS) has entered into a joint venture with First Washington Realty, which will purchase close to US$1bn (€700m) in retail real estate assets from Macquarie CountryWide Trust.
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SBZ begins direct portfolio sell-off
NETHERLANDS - SBZ, the €2.2bn Dutch pension fund for care insurer employees, has made its first two disposals of direct property holdings as part of a transition to a wholly indirect real estate exposure.
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Teeside begins UK acquisition programme
UK - The £2bn (€2.1bn) Teesside Pension Fund, administered by Middlesbrough Council, has purchased its first real estate asset through its recently-appointed property manager LV Asset Management (LVAM).
