Real Estate News – Page 766
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AXA REIM steps up Asian presence
ASIA - AXA Real Estate Investment Managers (AXA REIM), the global property arm of French financial services group AXA, has opened an Asian headquarters in Singapore as the springboard for moves into India and Japan.
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Invista sees 5-yr German potential
GERMANY - The developed countries in Europe continue to offer the best real estate investment opportunities but Germany is perhaps still the best investment even with current pressures, according to London-based Invista Real Estate Investment Management.
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Emerging market real estate indices launched
GLOBAL – The European Public Real Estate Association (EPRA) and National Association of Real Estate Investment Trusts (NAREIT) are extending its joint venture with the FTSE Group to develop a series FTSE EPRA/NAREIT Global Real Estate indices also covering the emerging markets.
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Ohio Police and Fire dampens core strategy
UNITED STATES - Ohio Police and Fire Pension Fund has altered its 2008 real estate strategy and will now be investing in core real estate this year, as previously planned.
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EPRA calls for focus on cross-border possibilities
EUROPE - Addressing the barriers to efficient cross-border investment in European real estate is more important in the near-term than lobbying for the creation of pan-European real estate investment trust (REIT) regime, according to the European Public Real Estate Association (EPRA).
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Texas Teachers makes $250m gateways commitment
UNITED STATES - Teacher Retirement System of Texas has approved a $250m (€171.2m) commitment with Westbrook Partners’ latest commingled fund.
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SanFran City and County signs follow-on commitments
UNITED STATES - San Francisco City and County Employees’ Retirement System is extending its relationship with CapMark Financial Group by approving follow-on real estate commitments worth $62.5m (€43.2m).
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Recession fears bring gloom to German real estate
GERMANY - Investors are increasingly reluctant to invest in German real estate as the Europe’s largest economy is slipping into recession, independent European property consultants, King Sturge has warned.
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Emerging markets lift global office sector…for now
GLOBAL - The office market worldwide has continued to show resilience despite the general downturn in the global economy, according to Boston-based global property specialist Colliers International.
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DEGI continues expansion eastwards and at home
GERMANY - Specialist Frankfurt-based property investors, DEGI, has acquired the Marynarska Business Park in Warsaw for €167m, as well as expanding its presence in Frankfurt.
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SEB to cash in on expanding Cologne office market
GERMANY - Frankfurt-based SEB Asset Management (SEB) has further expanded its German property holdings with the purchase of a major office building in Cologne which adds €75m to the group’s existing €132bn assets under management.
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BPF Bouw becomes latest victim to property fraud
NETHERLANDS - The €25bn pension fund for the construction industry BPF Bouw is understood to be the latest victim of the large-scale property fraud which has affected the company pension scheme of electronics giant Philips.
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Sacramento County plays strong hand on real estate
UNITED STATES - Sacramento County Employees Retirement System is now in the process of looking at firms to manage an ex-US public REITs strategy, but has rejected plans from one of its managers to change a fund’s existing strategy.
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Fresno County increases target on real estate and infrastructure
UNITED STATES - Fresno County Employees’ Retirement Association has increased its real estate allocation from 4% to 6% and added an allocation of 2% to infrastructure for the first time.
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CalPERS taps call for debt liquidity
UNITED STATES - California Public Employees Retirement System has made a $200m (€135.4bn) commitment into a US Debt Fund investment run by JER Investors Trust, to take advantage of dislocation in the credit markets.
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Apollo creates AREFIN on new investor demand
UNITED STATES - Apollo Real Estate Advisors has attracted an additional $309m (€210.6m) for its commingled fund, Apollo Real Estate Finance Corp, and placed the new capital raising in a separate holding called AREFIN Co-Investment Corporation.
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Real estate markets continue to struggle
GLOBAL - Global property markets are continuing to slow, according to the latest research by specialist property performance analysis firm, IPD, as the value of properties in the UK, Japan and Australia all showed declines in recent months.
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Student housing firm’s projects to target graduates
UK – London-based specialist property development group Unite is planning to build two student residence blocks worth €68m in London, and expanding its repertoire to try and plug the demand for housing among graduates.
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Heathrow tops expense poll in warehouse focal shift
GLOBAL - London’s Heathrow airport has the most expensive warehouse market in the world, followed by Tokyo, Oslo, Dublin and Singapore, according to Boston-based global real estate firm Colliers International.
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‘Cheesegrater’ put on hold as UK economy falters
UK - British Land has postponed plans to build a gleaming 220m skyscraper in the City of London, as falling demand for office space underlines the downward spiral of the UK economy.
