Residential – Page 134
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Ireland's NAMA could take 10 years to sell real estate loans
Organisation pledges to be part of solution no neighbouring Northern Ireland's problems.
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US property rebounds to double digit returns, led by apartments – IPD
Total return rises to highest level in five years, up from 18.7% loss in 2009.
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New investors join Corestate's value-add real estate strategy
Private equity specialist raises fresh capital for existing German Commercial Fund.
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German roundup: Patrizia, IMC, Evangelische Stiftung Pflege Schönau
Investors turn to 'second-row' cities as rent, price levels skyrocket in major cities.
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APG puts weight behind Philippines property developer
GLOBAL – The €266bn Dutch pension asset manager APG has invested P2.25bn (€37.2m) in a Philippines real estate developer.
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USAA enters $400m apartment joint venture with Gables
GLOBAL – USAA Real Estate Company and Gables Residential Trust have formed a joint venture for the acquisition and development of apartments in the US worth a combined $400m (€295m).
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ING Clarion buys mixed use property in New York City
GLOBAL – ING Clarion Partners has bought the 90,000 square foot 636 Avenue of the Americas in New York City in a deal worth $42.5m (€32m).
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Finland's Varma to scale back domestic real estate investment
FINLAND – Varma Mutual Pension Insurance Company is expected to slow its domestic real estate investment programme in 2011, following two years of intense activity, citing rising vacancies and an influx of foreign investors.
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AREA buys nine-property apartment portfolio in Texas
GLOBAL – AREA Property Partners has acquired a multi-family portfolio in Texas totaling nine properties and 2,589 units for an undisclosed sum.
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CBRE Investors' opportunity fund takes over Atlantic Station
GLOBAL – CB Richard Ellis Investors has acquired Atlantic Station in Atlanta, Georgia, from insurer AIG for its fifth US opportunity fund.
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Kansas PERS makes $75m commitment to UBS Trumbull
GLOBAL – The Kansas Public Employees Retirement System has signed a contract to allocate $75m (€58.1m) to the UBS Trumbull Property fund, managed by UBS Realty Investors.
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APG makes joint bid for ING's €1.9bn Australian property fund
NETHERLANDS – The €266bn Dutch asset manager APG is part of a syndicate bidding for a €1.9bn ING property fund.
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Investors should branch into developing economies - LaSalle
GLOBAL – Institutional investors looking to guarantee strong returns in 2011 cannot rely on portfolios consisting purely of cities in developed markets, LaSalle Investment Management has warned.
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ING Clarion buys DC area apartment building for €90m
GLOBAL - ING Clarion Partners has paid $118.5m (€90.1m) to acquire the 300-unit Millennium at Metropolitan Park in Arlington, Virginia.
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AREA Property Partners buys Chicago area hotels for $51m
GLOBAL – AREA Property Partners has closed on its first hotel purchases of the year with the acquisition of three Chicago area properties for $51m (€38.6m).
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PGGM commits €57m to Chinese real estate joint venture
GLOBAL – A joint venture between UBS Global Asset Management and Gemdale Corporation has completed a second successful closing after Dutch investor PGGM agreed to commit as much as $75m (€56.6m) to Chinese real estate.
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Texas Teachers-backed apartment fund makes first investments in two years
GLOBAL – The Camden Multifamily Value Add fund, 80% owned by the Teacher Retirement System of Texas, has closed on its first two apartment deals in more than two years.
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Texas Employees commits $60m to value-added fund
GLOBAL – The Employees Retirement System of Texas has made a $60m (€43m) commitment to the Madison International Real Estate Liquidity Fund IV.
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Irish commercial real estate continues to slide, IPD says
IRELAND – The commercial real estate market in Ireland continued to see declines in capital values in the third quarter, meaning the market has been falling for more than three years, according to Investment Property Databank (IPD).
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Rockspring enters student housing through counter-cyclical strategy
UK – Rockspring Property Investment Managers has entered the student accommodation market for the first time with the acquisition of 123 Fountainbridge, Edinburgh, in a joint venture with Mansion Group.
