Real Estate News – Page 764
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Dallas Police & Fire helps fund retail venture
UNITED STATES - Dallas Police & Fire Pension System is the capital source behind a global capital relationship with its real estate manager CDK Realty Advisors and RED Development, which will invest in retail property.
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Alaska Retirement holds back from real estate
UNITED STATES - Alaska Retirement Management Board has decided not to allocate any new capital to real estate investment in fiscal 2009.
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Cornerstone gets ready to close hotel bookings
UNITED STATES - Cornerstone Real Estate Advisers is getting ready to close the capital raising on its Cornerstone Hotel Income & Equity Fund II, having persuaded investors to commit $466m (€340.5m) to the fund.
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Pennsylvania Public School takes $286m risk
UNITED STATES - Pennsylvania Public School Employees Retirement System has allocated $286m (€210m) in two commingled funds to target high returns in European mortgages and Asia.
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PREA Conference presents a gloomy future
UNITED STATES – The pension fund real estate industry painted a pretty negative outlook for real estate investing at the Pension Real Estate Association’s 18th Annual Plan Sponsor Conference in Chicago last week.
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BP deal squares up to property downturn
UK- BP’s pension fund real estate arm Ropemaker Properties has formed a £100m UK investment fund called Cubemaker Partnership with London-based property company Cube Real Estate, that aims to take advantage of the economic downturn and acquire cheap assets.
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London tops the office expenses
UK - London remains the most expensive office market in the world, according to the latest research by London-based global commercial property investment consultants, CB Richard Ellis (CBRE).
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DEGI continues European expansion
BELGIUM – DEGI, the €6bn German specialist property investment group, has bought a major European Union (EU) office complex in Brussels, in a deal worth €90m.
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Singapore expected to bounce back strongly
SINGAPORE - Singapore remains the centre of choice in Asia for long-term investors seeking stable real estate investment returns, according to a new survey by iProperty.com.
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German investors dominate in falling London markets
EUROPE - The Central London commercial property markets are continuing to fall under pressure from the current financial and economic crisis but indicators suggest overseas investors are still willing to consider deals, according to London-based commercial real estate services firm Cushman & Wakefield.
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Swiss funds still favour real estate
SWITZERLAND – Nine out of 10 Swiss pensions funds are indirectly invested in real estate while the majority also directly invest in the market, according to research from real estate investment specialist Sal Oppenheim.
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CalSTRS prepares for market turn
UNITED STATES - California State Teachers Retirement System is investing capital with existing real estate managers so these firms will have capital ready to place in the real estate market when conditions start to improve.
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Oregon PERF moves into infrastructure
UNITED STATES - Oregon Public Employees Retirement Fund has made its first move into an infrastructure commingled fund and approved a $200m (€140.3m) commitment into the Alinda Infrastructure Fund II.
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New York State takes $450m investment opportunity
UNITED STATES - New York State Common Retirement Fund has approved $450m (€308.2m) of commitments into three opportunity funds, in a bid to generate projected gross IRR of 20%.
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ING Clarion takes its talent to Brazil
UNITED STATES - ING Clarion Partners is tapping its in-house investment expertise and opening a regional investment office in Brazil for the first time.
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Felix turns off the road and into Aviva
UNITED STATES – Steve Felix, well-known in the pensions and institutional real estate market, is leaving his full-time writing behind and joining Aviva Investors to become head of marketing for its North American real estate multi-manager products.
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Union seeks growth through Axa CEO
GERMANY - Hamburg-based investment management firm Union Investment Real Estate (Union) has appointed Karl-Joseph Hermanns-Engel to its management board with specific responsibility for the €14bn firm’s international asset management operations.
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Russia to be avoided, warns JP Morgan
RUSSIA - Investors should avoid Russia as a potential area of growth as its property markets will be the hardest hit if the world’s largest country is drawn to the impending global recession, JP Morgan Chase has claimed.
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Germany steps in protect Hypo’s funds behind the funds
GERMANY – A consortium of German banks has stepped in at the eleventh hour to provide Hypo Real Estate, a provider of loans and financing to real estate purchases and funds, with assets to meet its financing obligations.
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Three out of four funds stand firm to real estate
UK – Three-quarters of UK pension funds are either maintaining or increasing their current level of exposure to real estate despite the recent turmoil in their domestic commercial property market.
