Real Estate News – Page 751
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Merseyside reviews property adviser
UK - Merseyside Pension Fund has announced it is looking for a strategic property investment adviser for its £262m (€278m) direct UK property portfolio.
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Currency volatility could encourage local investing - CBRE
UK – UK institutional property investors are considering making more domestic investments, according to CB Richard Ellis, as continental European holdings are becoming increasingly overweight thanks to wild currency fluctuations.
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CalPERS sees demand for member mortgages triple
US – California Public Employees’ Retirement System’s (CalPERS’) Member Home Loan Programme has tripled in size over the last year thanks to its conservative mortgage practices, according to CalPERS’ Investment Committee.
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Norway sees property slip into the red
NORWAY –Norwegian commercial property returns fell into negative territory in 2008 after delivering 15% plus returns for three consecutive years, according to the IPD Norway Annual Property Index.
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Franklin Templeton raises $380m for Asia
ASIA – Franklin Templeton Real Estate Advisors has closed its $383m (€280.7m) private equity Asian Real Estate Fund and aims to take advantage of market corrections to buy up bargains.
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LaSalle signs Northern Europe head
EUROPE - LaSalle Investment Management has appointed Insa von Jürgensonn as regional director and head of portfolio management for Northern Europe.
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Mexican pensions to focus on home properties
MEXICO – Mexican pension funds have agreed to only invest in domestic investments this year and will focus on investing in real estate to help boost the struggling Mexican economy.
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SanFran PF sees real estate portfolio fall 5.6%
UNITED STATES - San Francisco City and County Employees’ Retirement System saw real estate portfolio fall by 5.6% during the fourth quarter of 2008 alone.
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Contra Costa reviews Morgan Stanley deal
UNITED STATES - Contra Costa County Employees’ Retirement Association has decided to reconsider its earlier $75m (€57.9m) commitment to the Morgan Stanley Real Estate Fund VII Global.
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State-owned Hypo touted as potential property lift
GERMANY – Experts claim Hypo Real Estate’s (HRE’s) possible nationalisation could help boost the German property market.
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DEGI to target discounted potential
GERMANY – Deutsche Gesellschaft für Immobilienfonds (DEGI), a part of Aberdeen Property Investors, is planning to take advantage of discounted property prices to expand its property portfolio.
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Ahorro to create and market a 'property bad bank'
SPAIN – Ahorro Corporación, the financial services arm of Spain’s savings banks, has launched a new vehicle to dispose of over €3bn of defaulted properties on behalf of its banks.
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France to bounce back after poor 2008 - API
FRANCE - French property investments more than halved in value in 2008, however experts are confident activity will pick up, according to the Aberdeen Property Investors’ French quarterly property snapshot.
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Norway PF to start buying later this year
NORWAY – Norway’s Government Pension Fund Global will begin to buy commercial property in the second half of this year and will focus on investing in the UK as part of its plans to invest £14.5bn (€15.7bn) in real estate in the coming years.
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Fund eyes retail shopping sales
UK – Sovereign Land and Strutt & Parker Real Estate Financial Services (SPREFS) are working together to create a £300m (€327m) fund to invest in UK shopping centres.
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Risk in the US may be worth buying - RREEF
US – North American real estate markets are expected to offer high-risk investors “highly attractive” opportunities in 2009, suggests research from RREEF Alternative Investments.
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Industrial potential shifts to South America
EUROPE – Industrial commercial property markets in Central and Eastern Europe (CEE) and South America were the best performing worldwide in 2008 and are likely to continue doing well, according to research from Cushman & Wakefield.
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Japan stayed positive in global downturn
JAPAN - Japanese property returns remained for most of 2008 positive thanks to a strong, steady income return, according to the Investment Property Databank’s (IPD’s) Japan Monthly Indicator.
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INREV uncovers concerns over secondary market
EUROPE – Approximately €1.1bn of secondary trades were executed in the past 12 months by 18 INREV member funds, with a further €230m of trades in the pipeline, but the prospect of an efficient secondary market for European non-listed real estate funds remains uncertain, INREV members discovered at this week’s ...
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New York CRF takes a dip in Lake fund
US - The New York State Common Retirement Fund (NYSCRF) has committed $300m (€239m) to the Lake Montauk Real Estate Fund, a fund of fund managed by Franklin Templeton Real Estate Advisors.
