Retail – Page 114
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News
Nottingham PF sells ‘too big’ retail park
UK – A listed company specialising in edge-of-town and out-of-town retail has acquired assets from Nottingham local authority pension fund and Xerox Pensions for a total of £22.7m (€26.3m).
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Macro drives Euro growth as UK confidence boosts non-listed funds
EUROPE - Broad recovery in European property markets raises the prospect that markets such as Denmark and the Netherlands could escape the cyclical downturn altogether.
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Investors look past prime to secondary assets
EUROPE - European pension funds will look to secondary assets in search of higher returns as economies recover across the region, according to Simon Mallinson, director of research at Invesco.
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APG acquires Nice shopping centre in three-way deal
FRANCE/NETHERLANDS - A three-way joint venture involving Dutch pension fund ABP has acquired Cap 3000, a Nice shopping centre, for €450m.
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CPPIB and Kimco join forces to hunt US retail
AMERICAS – The Canada Pension Plan Investment Board (CPPIB) has acquired a $166.5m (€125.8m) interest in four US shopping centers through a joint venture with Kimco Realty Corporation.
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ING REIM steps in to rescue Creed fund
ASIA – ING Real Estate Investment Management has taken over as general partner (GP) at an Asian real estate fund for the second time in 12 months.
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Italian real estate scraped a positive return in 2009
ITALY – Capital values in Italian commercial property suffered the steepest decline in its seven-year history, falling by -4.6% in 2009, according to Investment Property Databank (IPD).
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Tennessee Consolidated nears real estate commingled holdings
UNITED STATES - Tennessee Consolidated Retirement System is getting close to making new investments in two core open-ended commingled funds, in a bid to gain diversification into office and retail real estate.
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Spain tops the losses for IPD European returns
EUROPE – Spain experienced its second consecutive year of negative commercial real estate returns in 2009, while Germany and Switzerland remained relatively stable over the same 12-month period, according to Investment Property Databank (IPD).
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Unilever’s Progress nears end of direct real estate divestment
NETHERLANDS – CB Richard Ellis is in negotiations with an unnamed investor to exchange on the remaining assets of the domestic real estate portfolio of Progress, the Dutch pension fund of Unilever.
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Illinois State to boost real estate holdings by $300m
UNITED STATES - Illinois State Board of Investment has approved plans to invest $300m (€223.1m) in real estate in 2010.
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BRIC-built recovery expected - JLL
GLOBAL – The BRIC countries will lead the global real estate market recovery as their economic expansion boosts occupier demand across all sectors and cross-border investment returns, according to Jones Lang LaSalle (JLL).
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APG and Corio to invest €1.3bn in European retail
EUROPE – Pension fund asset manager APG has agreed to help listed real estate company Corio raise enough capital to acquire more than €1.3bn worth of retail assets in Europe.
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Aviva's AIPL investments near €290m
UK – Aviva Investors has acquired more than £260m (€289m) of UK real estate over the last six months for its AIPL vehicle, a low-risk real estate fund for institutional corporate and local authority pension schemes.
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West Midlands bags UK shopping centre
UK – Property company and fund manager Delancey has sold a UK shopping centre for more than £70m (€78m) to the West Midlands Pension Fund.
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British Steel pension moves into music store
UK – The British Steel Pension Fund has acquired an HMV music store in Manchester from a private investor for £18.9m (€21.14m) and plans to make further acquisitions over the next 18 months.
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Standard Life snaps up Tesco 'eco' sale-and-leaseback
UK – Standard Life Investments has acquired a Tesco Extra Supermarket in Shrewsbury for its £1.85bn (€2.04bn) Pooled Property Pension Fund.
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MagazineShoppers choose to touch and feel
For the best part of a decade doomsters have been predicting the end of shopping as we know it. Someone forgot to tell shoppers, says Shayla Walmsley
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ING Clarion deal signals market re-entry
UNITED STATES- ING Clarion Partners has shown its belief in the comeback of the real estate market and made its first acquisition in over two years for the Clarion Development Ventures III commingled fund.
