Real Estate News – Page 754
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Scandinavia real estate looks attractive, say pension funds
Scandinavia – Scandinavian funds still consider non-listed real estate an attractive investment opportunity in the medium to long-term, according to a survey by Lymos BV Real Estate Capital Advisors.
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Axa taps European housing opportunities
EUROPE – AXA Investment Managers’ German branch has launched a residential fund for institutional investors following their increased appetite for the sector.
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UK logistics traffic to hit a go-slow
UK – Demand for UK logistics could reach a record low this year and will remain subdued until at least 2010, according to Jones Lang LaSalle (JLL).
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Restructuring could save German funds - DTZ
EUROPE – German open-ended funds (GOEFs) are expected to suffer further liquidity issues in 2009 and should consider restructuring to protect themselves in the future, according to DTZ’s latest European quarterly report.
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Grosvenor seek urgent retail debt solution
UK – Grosvenor, the privately-owned property group, has confirmed it is in debt talks to prevent a breach in the banking contract of its retail fund.
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LandSecs becomes next to seek rights issue
UK – Land Securities today announced it is holding a rights issue to raise around £755.7m (€854.9m) from shareholders, making this the latest in a series of property giants proposing fundraising to strengthen their balance sheets.
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Mercer buys Callan to create consulting giant
UNITED STATES – Callan Associates, the San Francisco-headquartered consultant to major investors such as US pension funds, is being bought by rival firm Mercer to create one of the largest investment consulting businesses in the US.
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Tough year sees CPP investments fall 13%
CANADA – The Canadian Pension Plan fund declined by C$13.8bn (€15.42bn) in the nine months to 31 December 2008, its investment board has revealed in its latest financial results.
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OMERS steps up infrastructure holding
CANADA – Ontario Municipal Employees Retirement System (OMERS) has purchased a new asset management business as part of its plans to expand into the energy sector in Western Canada.
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Kalsi’s 'leave' shakes up MS Asian real estate team
ASIA – Morgan Stanley has reshuffled its Asian real estate team after putting Sonny Kalsi, global head of real estate investments, on administrative leave.
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Geni to pull magic from property bottleneck
MIDDLE EAST – Geni Capital LLP (Geni), the London-based asset manager, has teamed up with AREIT Management Limited to launch a commercial property opportunities fund to take advantage of recently-adjusted property values in the Middle East.
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Hypo Real financing keeps climbing
GERMANY – Hypo Real Estate was granted an additional €10bn by the German Financial Markets Stabilisation Fund (SoFFin) last week, bringing the total bailout to €52bn.
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IPD predicts further gloom for Ireland
IRELAND – Ireland’s real estate industry has tough times ahead and is unlikely to recover any time soon, according to analysts at the SCS/IPD Annual Results presentation in Dublin this week.
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ING Clarion expands into the DC pensions space
UNITED STATES - ING Clarion Partners is entering the US defined contribution (DC) investor market for the first time, as officials believe there will be significant growth in the DC pensions arena.
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NYSTRS ends REIT relationship with Citigroup
UNITED STATES - New York State Teachers Retirement System has ended an arrangement with Citigroup Alternative Investments as the REIT manager is pulling out of this space.
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Property investment slumped €335bn last year
GLOBAL - Global investment in commercial property plummeted 59% to $435bn (€335bn) in 2008 and is likely to fall further in 2009, according to Cushman & Wakefield’s Investment Atlas 2009 analysis.
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ProLogis sells remainder of PEPF II
EUROPE – ProLogis European Properties (PEPR) has decided to sell its one-third stake in the ProLogis European Properties Fund (PEPF) II to further de-leverage the firm.
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British Land halves Meadowhall stake ahead of rights issue
UK – The British Land Company has exchanged contracts with London & Stamford Property to sell a 50% interest in the freehold of the Meadowhall Shopping Centre near Sheffield, but it is also raising additional funds through a £740m (€819.49m) rights issue.
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Demands spark student accommodation drive
UK – Coral Portfolio and Strutt & Parker Real Estate Financial Services (SPREFS) are launching a student accommodation fund in response to strong market demand.
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Klépierre rolls on with real estate sale
FRANCE – Klépierre, the French real estate investment company, will continue its disposal programme to boost liquidity and expects positive growth in 2009, executives announced yesterday.
