Real Estate News – Page 785
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CalSTRS and ING Clarion set up value-added JV
UNITED STATES - California State Teachers Retirement System and ING Clarion Partners have created a value-added investment joint venture called INGCal Tactical.
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US pensions scrutinise apartments
UNITED STATES - Pension funds in the United States are going to be taking a closer look at placing some capital into apartments as officials believe there will be stronger renter demand for apartments in the near-term.
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Harrison Street pairs up for medical offices
UNITED STATES - Harrison Street Real Estate Capital has formed a joint venture with Montecito Medical Investment Company to buy ownership of medical office buildings.
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CalWest assets reduce to $473m
UNITED STATES - California Public Employees Retirement System (CalPERS) and RREEF are working together at present to manage the real estate assets on the CalWest Industrial Investors LLC, but assets are now substantially lower following an earlier sale of properties.
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Real estate sought through IPE-Quest mandate
SWITZERLAND – A search has been launched for an investment manager to look after a €10m European real estate mandate, using IPE Quest.
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Two in three funds eye real estate
NORDICS - Nearly two-thirds of pension funds in Norway, Sweden and Denmark intend to invest in non-listed real estate in the future, according to a survey by Lymos BV Real Estate Capital Advisors.
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ABP advised to sell Corio
NETHERLANDS - Dutch pension fund ABP should sell its 37% share in Corio to one of the developers circling the Dutch real estate firm, according to sector analysts.
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Pension fund JV acquires €200m office
GERMANY - A three-way German office partnership involving ABP and ATP Ejendomme, the real estate subsidiary of the €49.6bn Danish pension scheme, has invested almost a third of its target capital with the €200m acquisition of two nationwide portfolios.
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Green building ‘will define class A’
UNITED STATES - Tenant demand will eliminate non-green new-build real estate in the US, according to a report published by Prudential US’ subsidiary Pramerica Real Estate Investors.
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Brookfield expansion targets REITs
UNITED STATES - Brookfield Asset Management has moved into the REIT management business with the acquisition of KG Redding.
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Henderson shorts inside global real estate
EUROPE - Henderson Global Investors has launched a property equities fund with the capability to take long and short positions on real estate listed stocks.
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Smaller schemes opt for Asian fund-of-funds
EUROPE - The European Association for Investors in Non-Listed Real Estate Vehicles (INREV) has launched a directory of 36 unlisted funds of property funds to meet demand from smaller pension funds and niche-hungry major funds.
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NYSTRS turns $525m to non-core investing
UNITED STATES - New York State Teachers Retirement System is looking at investing up to $525m (€356m) in non-core real state through commingled funds and a separate account.
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MacFarlane raises $1bn for urban investment
UNITED STATES - MacFarlane Partners has raised $1bn (€683.6m) for Urban Real Estate Fund II, making this one of the largest urban commingled funds ever to be created in the United States.
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Ohio School Employees places capital into non-core property
UNITED STATES - School Employees Retirement System of Ohio has approved commitments totaling $100m (€67.2m) into two non-core commingled funds, as its investment strategy for 2008 is to ignore the core real estate market.
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Duopoly to define logistics fund market
EUROPE - The European logistics market will diverge into ‘blockbuster’ and ‘niche’ funds, with specialist nous and tenant relationships determining asset managers’ survival in a shaken-out market, claims Peter Davies, fund director of the Goodman European Logistics Fund (GELF).
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Arizona State to take real estate over the border
UNITED STATES - Arizona State Retirement System has decided to open its real estate investment program to the international stage on both the private and public side.
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Reits design described as “wrong”
GLOBAL - European Reits are being formulated to appeal to the “wrong audience”, according to Europroperty Consulting.
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CEE pricing 'still a concern'
EUROPE - Central and Eastern Europe is still too overpriced to be worth investing in, despite greater differentiation between prime and secondary real estate pricing, according to Scottish Widows Investment Partnership’s head of property Malcolm Naish.
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French study suggests derivatives 'over-hyped'
EUROPE - European institutional investors have little appetite for property derivatives, despite claims from investment banks suggesting they offer an effective hedge against inflation, suggests academic research.
