Real Estate News – Page 792
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San Joaquin County considers real estate rise
UNITED STATES - San Joaquin County Employees’ Retirement Association is thinking of increasing its exposure to real estate to as much as a tenth of its assets.
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CalPERS and MacFarlane bet big on the capitol
UNITED STATES - California Public Employees Retirement System and MacFarlane Partners have formed a venture which could build a real estate portfolio worth $10bn (€7.3bn) in the greater Washington DC region.
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Closed-end real estate feels UK pricing pressure
UK – Investment trust managers predict UK investors will increasingly turn to overseas real estate to seek diversification in a weakening domestic market.
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EU institutions drive Brussels boost
BELGIUM - Brussels is the new Berlin, International Real Estate (IRE) indicated when it announced a sharper focus on value-added opportunities in Brussels real estate.
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Carrefour to spin off property
FRANCE - French retailer Carrefour is to offer 20% of its €24bn property portfolio to “strategic institutional real estate partners” and other investors, including pension funds.
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Corio to divest office and industrial portfolios
EUROPE - The €6bn property investment company Corio has decided to explore the divestment of a major part of its offices and industrial portfolios, and to further focus on its retail activities.
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UK schemes wake up to residential
UK - UK pension funds need to catch up with their continental counterparts and ditch outmoded perceptions of domestic residential, according to Quinton Hill-Lines, managing director of fund management at Grainger.
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ABP to sell office fund KFN
NETHERLANDS - The €211bn civil service scheme ABP is considering selling at least part of its offices investment fund KFN, in order to further diversify its overall portfolio.
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Unibail-Rodamco prepares post-merger management
NETHERLANDS - Unibail-Rodamco is almost ready to announce its top 50 management structure as its integration efforts are now on track, the €23.9bn property investor has said.
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TIAA-CREF sales push draws Alaska hire
UNITED STATES - TIAA-CREF Asset Management has signaled plans for a major institutional business drive with the expansion of its sales team and three key appointments.
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Milan buys flags future for Euro-office
ITALY - Segro, the serviced office firm, has acquired a Milan business park for €84.5m from fund manager Europa Capital Partners – a beachhead in a market segment known for the difficulty of cross-border investment.
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Austrian property "like the UK, but cheaper"
AUSTRIA - Austrian property firms will largely escape the sub-prime crisis and remain immune to interest rate rises, according to a report from Raiffeisen bank.
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CPP acquires Euro logistics
CANADA - The C$120bn (€83.5bn) Canada Pension Plan Investment Board has invested €400m in European distribution via a fund set up by US logistics firm ProLogis.
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UK property investors divest €8bn
UK - Institutional investors continued the exodus out of the UK domestic market in the first half of 2007, and became net sellers with divestments worth €8.7bn.
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Low returns fail to deter core pension fund investors
UNITED STATES – Some US pension funds are still willing to invest a portion of their capital in core real estate despite returns being at an all-time low, according to consultants Townsend Group.
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Ohio PERS to sell $1bn in real estate
UNITED STATES – Strong interest in real estate acquisitions has promoted Ohio Public Employees Retirement System to spend the remainder of 2007 working on the sale of $1bn (€741.2m) in real estate assets.
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CalPERS to rest capital in global hotels
UNITED STATES – California Public Employees Retirement System is planning to tap into the tourism trade next year with the development of a global hotel investment platform.
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Protego taps Almquist to head Nordic growth
SWEDEN - Protego Real Estate Investors has revealed it is expanding into the Nordic market with the appointment of Lars Almquist to head its new Stockholm office.
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Schroder hires ABP’s Bingen
EUROPE - Former ABP portfolio manager Rob Bingen will join Schroder Property in October as head of its €2.2bn European property multi-manager operation.
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CalPERS considers major real estate emigration
UNITED STATES – The California Public Employees Retirement System is thinking of expanding overseas and moving its international real estate allocation from its current 20% level to a 50% weighting.
